Slides
Page 1
November 12, 2025 N YSE: AX Axos Financial, Inc. I nvestor Presentation
Page 2
2© 2025 Axos Financial, Inc. All Rights Reserved. 2 Safe Harbor This presentation contains forward -looking statements that involve risks and uncertainties, including without limit at io nstatements relat ing to Axos Financial, Inc.’s (“Axo s ”)financial prospects and other project ions of it s performance and asset quality, Axos’ deposit balances and capital rat io s, Axos’ abilit y to continue to grow profitabl y and increase it s business, Axos’ abilit y to continue to d ive rsify it s lending and deposit franchises, the ant icipat ed t iming and financial performance of other offerings, init iat ives,and acquisit ions, expectations of the environment in which Axos operates and projections of future performance . These forward - looking statements are made on the basis of the views and assumptions of management regarding future events and performance as of the date of t his presentation . Act ual result s and the t iming of events could differ mat erially from those expressed or implied in such forward -l ooking statements as a result of risks and uncertainties, including without limit at ion Axos’ ability to successfully i ntegrate acquisit ions and realize the ant icipat ed benefits of the transactions, changes in the interest rate environment, monetary policy, inflat ion, tariffs, government regulat ion, general economic conditi ons, changes in the competiti ve marketplace, conditions in the real estate markets in which we operate, risks associated wit h credit quality, our ability to attract and ret ain deposits and access other sources of liquidity, and the outcome and effects of lit igat ionand other factors beyond our control . These and other risks and uncertainties det ailed in Axos’ periodic reports filed with the Securit ies and Exchange Commission, including it s Annual Report on Form 10 -K for the fiscal year ended June 30, 2025, Form 10- Q for the quarter ended September 30, 2025 and it s last earnings press release, could cause actual result s to differ mat erially from those expressed or implied in any forward -l ooking statements . R eaders are cautioned not to place undue reliance on these forward -looking statements, which speak only as of the date of t his press release . Axos undertakes no obligat ion to publicly update or revise any forward -lo o kingstatements, whether as a result of new informat ion, future events or ot he rwise. All wri tten and oral forward -looking statements made in connection wit h t his presentation, which are attri butabl e to us or persons act ing on Axos’ behalf are expressly qualified in t heir entirety by the foregoing informat ion.
Page 3
3© 2025 Axos Financial, Inc. All Rights Reserved. 3 › Di verse mi x of assets, deposi ts, and fee i ncome reduces risk and provides multiple growth opportunities in varying environments › Asset -based lending at low loan- to -values has re sult e d in low hist orical cre dit losse s › Diffe re nt iat e d re t ail digit al st rat e gy from “online savings banks” or fin -tech competitors › Structural cost advantage vs. traditional banks › New busi ness i ni ti ati ves generate i ncremental growth › Dire ct-to -consumer and securities clearing and custody businesses provide differentiated sources of growth › Technology synergies among divisions reduce ove rall clie nt acquisit ion and se rvicing cost s Investment Thesis Axos Financial’ s Three Divisions Provide the Foundation for Sustained L ong -term Growth Consumer Banking Commercial Banking Securit ies
Page 4
4© 2025 Axos Financial, Inc. All Rights Reserved. 4 Consumer Banking Commercial Banking Securit ies L ending › Auto L ending › Single-Family Mortgages › Personal Unsecured › Asset -Based L ending › C&I L ending › Commercial Real Est at e Specialt y L ending › Equipment Finance › Fund Finance › L ender Finance › Mult ifamily › Margin L ending › Securit ies Lending › SBLO Cs Deposits › Checking › Savings › Money Market › CDs › Bundled Products › Cash and Treasury Management › HOA › Axos Fiduciary Services › Business Management › Payment Processing › Cash Sweeps › Money Market Fee I ncome › Mortgage Banking › Banking Fees › FX › Prepayment Fees › Operating L ease I ncome › Unused L ine of Credit Fees › Clearing Fees › Custody Fees › Mutual Fund/ETF Fees › Commissions › I nvestment Management Fees Technology › Universal Digit al Bank › ACE (Cash and TM) › Zenith (Business Management) › Unit y (Fiduciary Services) › Lib e r t y › Axos Professional Workstation (APW ) Diversified Sources of L ending, Deposits and Fee Income
Page 5
5© 2025 Axos Financial, Inc. All Rights Reserved. 5 Axos Bank Peer Group 1 Percent ile RO AA 1.69% 0.73% 91% Return on Equity 16.13% 6.71% 92% NIE/ Avg Asse t s 2.09% 2.45% 31% Net I nterest I ncome 4.71% 2.85% 96% Efficie ncy Rat io 43.34% 71.76% 6% Source: Uniform Bank Performance Report ( UBPR) as of September 30, 2025; data retrieved November 3, 2025. Note 1: Peer group is all savings banks with assets greater than $1 billion for quarter ended September 30, 2025. Axos is a Top Performer Versus Bank Peer Group The 92% on ROE means that the Bank outperformed 92% of all banks. The 6% efficiency ratio ranking means that only 6% of banks have lower expenses in comparison to their revenues.
Page 6
6© 2025 Axos Financial, Inc. All Rights Reserved. 6 Return on Equity = 15.94% Return on Assets = 1.77% Consolidated Fiscal First Quarter 2026 Highlights Compared with Fiscal First Quarter 2025 16% 11% 12% 13% Asset Growth Deposit Growth Ne t Income Dilut ed EPS $ Millions $ Millions $ Millions $ Dilut e d EPS Q1 2026 112.4 1.94 Note 1: The quarter ended September 30, 2024, included a benefit of $12.0 million after tax, or $0.21 per diluted common share , from the one -time discount accretion from the prepayment of three FDIC -purchased loans. 112.3 1 1.93 1 100.3 1.72
Page 7
7© 2025 Axos Financial, Inc. All Rights Reserved. 7 Diluted EPS and Book Value Per Share Have Been Consistently Strong 20.0% CAGR 18.2% CAGR Dilut ed EPS (FY) Book Value Per Share ( FY ) $ Per Share $ Per Share Note 1: The year ended June 30, 2024, included a one -t ime pre-tax gain of approximately $92.4 million, or $1.11 per diluted comm on share, related to the FDIC L oan Purchase 1
Page 8
8© 2025 Axos Financial, Inc. All Rights Reserved. 8 Resil ient Net I nterest Margin Through a V ariety of I nterest Rate Cycl es 4.09% 4.75%
Page 9
9© 2025 Axos Financial, Inc. All Rights Reserved. 9 L oan Growth by Category $ Millions SF Warehouse L ending Mult ifamily Small Balance Commercial Jumbo Mortgage Asset -Based and Cash Flow L ending1 L ender Finance Non -RE Capit al Call Facilit ies Auto Unsecured/OD Single Family Mortgage & Warehouse Mult ifamily & Commercial Mortgage Commercial Real Estate Commercial & Industrial Non -RE Lo a n s Q1 FY 26 Q4 FY 25 Inc ( Jun) $ 3,753 $ 3,786 $ ( 33) 788 609 179 1,585 1,729 ( 144) 1,209 1,212 (3 ) 6,050 5,713 337 1,245 1,224 21 2,587 2,567 20 3,947 2,633 1,314 1,447 1,596 ( 149) 471 431 40 60 52 8 $ 23,142 $ 21,552 $ 1,590 L ender Finance RE CRE Specialt y Auto & Consumer Note 1: Asset -Based and Cash Flow L ending as of Q1 FY 26 includes $1,020 million of loans and leases from the Verdant acquisition.
Page 10
10© 2025 Axos Financial, Inc. All Rights Reserved. 10 Holist ic Credit Risk Management What We Do Lo a n Life Cy c le Ut ilize a holist ic cre dit-risk management framework to manage and monitor credit quality at each stage of the loan life cycle, and le ve rage spe cialize d Cre dit Tools t o opt imize monit oring and re port ing capabilit ie s Set A ppeti te Originat ions Portfolio Management Reporting Special Assets Credit Monit oring & Oversight Axos Credit Object ives Example of Credit Tools › Board of Directors › Annual Strategic Plan › Corporate Governance › Policies & Approval Authorities Note: Credit tools list is a sampling and is not purported to be comprehensive. Establish Credit Framework and Culture Safe Growth Monitor Assets Throughout Lif e Cy c le Data -Driven Decision Making Mit igat e Problem L oans
Page 11
11© 2025 Axos Financial, Inc. All Rights Reserved. 11 Change in Allowance for Credit L osses ( ACL ) & Unfunded L oan Commitments Reserve ( UCL ) ($ in millions) ACL + UCL ACL + UCL ( 6.4) 7.8 7.8
Page 12
12© 2025 Axos Financial, Inc. All Rights Reserved. 12 Commercial Real Estate Specialty 1 Detail as of September 30, 2025 60% of total Commercial Re al Estate Spe cialt y balance at September 30, 2025 is indire ct note structures where Axos has first payment priorit y; these loans carry a wei ghted -average LTV of 43% . Be low is a breakdown of the stage of the properties underlying the CRES loans : Note 1: Includes Commercial Real Estate Specialty loan portfolio only L oan Type Balance ( mm) Weighted Avg. L TV Construction $ 2,837 47 % Bridge 2,107 47 St abilized 950 57 Pre -development 156 42 Total $ 6,050 48 %
Page 13
13© 2025 Axos Financial, Inc. All Rights Reserved. 13 Diversified Deposit Gathering Approximately 90% of deposits are FDIC -insure d or collat e ralize d Deposit balances as of September 30, 2025 Note 1: Excludes approximately $450 million of off -balance sheet deposits › Serves approximately 30% of U.S. Chapter 7 bankruptcy trustees in exclusive relationship › Soft ware allows se rvicing of SEC re ce ive rs and non- chapter 7 cases › Full service digital banking, wealth management, and se curit ie s t rading › W hit e-label banking › Business banking with simple suite of cash management servi ces › HOA and property management › Business management and entertainment › Tit le and e scrow companie s › 1031 exchange fi rms › Broker -de ale r clie nt cash › Broker -deal er reserve accounts › Full service treasury/cash management › Team enhancements and geographic expansion › Bank and securities cross -se ll Fiduciary Services $1.1B Consumer Direct $12.0B Specialt y Deposits $2.6B Dist ribut ion Partners $0.3B Axos Securit ies $1.1B 1 Small Business Banking $0.7BCommercial & Treasury Management $4.5B Tot al Deposits: $22.3B
Page 14
14© 2025 Axos Financial, Inc. All Rights Reserved. 14 Five-Y ear Deposit Growth ($ in billions) 18.5% CAGR
Page 15
15© 2025 Axos Financial, Inc. All Rights Reserved. 15 Axos Deposits Have National Reach With Customers in Every State Customer Base and Deposit Volume is Well Distributed Throughout the United States
Page 16
16© 2025 Axos Financial, Inc. All Rights Reserved. 16 Non -Interest Income Growth and Diversification Y ear Ended June 30, 2020 Three Months Ended September 30, 2025 Total Non -I nterest I ncome = $103.0 million Total Non -I nterest I ncome = $129.4 million 1 Note 1: Represents annualized quarterly September 30, 2025 data ($ in millions) ($ in millions)
Page 17
17© 2025 Axos Financial, Inc. All Rights Reserved. 17 › L eadership team with more than 100 years combined industry experi ence. › Proprietary front - and back -end technologies for advisors and broker - deal ers. › Axos Advisor Services is the 7th l argest R I A custodian in the U.S. › More t han $ 4 0 billion in Cle aring Se rvice s clie nt assets under custody and/or administration. Three Months E nded September 30, 2025 Three Months Ended June 30, 2020 Custody $ — Cl eari ng Fees & Executi on 4,817,561 Cash Sorting 811,599 Margin L ending 1,455,625 Securities L ending 1,588,500 Net I nterest I ncome 494,424 Net R evenues $ 9,167,709 Custody $ 8,524,962 Cl eari ng Fees & Executi on 6,681,497 Cash Sorting 13,888,231 Margin L ending 3,958,418 Securities L ending 2,270,245 Net I nterest I ncome 2,076,420 Net R evenues $ 37,399,773 Axos Clearing and Custody Highlights
Page 18
18© 2025 Axos Financial, Inc. All Rights Reserved. 18 Axos Advisor Se rvice s (AAS) At A Glance L iberty Provides a Comprehensive Turnkey Platform A utomati c Reconciliat ion Serving 211 RIAs 1 ( $1M+ AUC) ~$33B Assets Under Custody Small RIAs 2% of Total AUC Advisors with <$25M in AUC Tradit ional RIAs 44% of Total AUC Gathers and manages assets, works directly with investor TAMPs 54% of Total AUC Turnkey Asset Management Platform, relies on Reps to gather assets and maintain relationship with investor Data as of September 30, 2025 Note 1: 257 total advisors on L iberty platform; advisors with <$1M AUC comprise <$12M in total assets; there are 9 non- AAS RIAs not on Libert y at Axos Clearing
Page 19
19© 2025 Axos Financial, Inc. All Rights Reserved. 19 Secular Industry Trends Provide Opportunities for Axos › RIAs need to reduce costs and streamline back -office ops › Automation frees up time/resources for client interactions › Axos to provide bundled securities clearing, custody and banking services › Targe t small & me dium-sized RIAs and IBDs that large custodians do not serve well › Axos to provide succession -based and M& A financing to RIAs and IBDs › Nationwide footprint and industry focus are competitive advantages › Axos offers direct -to -consumer self -directed trading and robo -advisory solut ions; will offe r privat e labe l robo-advisory solutions to independent RIAs Fee Compression for Active and Passive Investment Managers Digit izat ion of W e alt h Manage me nt Aging Advisor Populat ion is Driving Consolidation and Succession Planning Advisors are L eaving Wirehouses to Become Independent Advisors
Page 20
20© 2025 Axos Financial, Inc. All Rights Reserved. 20 Axos Securities Roadmap Past Present Future 2018 - 2022 2023 - 2025 2026+ Pe ople • Learning new skills wit hin the current business vert ical (adapt able, siloed) Processes • L everaging technology for efficiencies / out sourcing low value tasks (enhanced accuracy, better resource ut ilizat ion) Technology • Home -grown bi -furcated t echnology (duplicat ive, confusing) Pe ople • Broad growth in competence and knowledge ( Collaborative, Aligned, Client -Cent ric) Processes • Di gi tal transformati on that drives automation and scalabilit y (Dat a- driven, AI, Machine Learning, Agile) Technology • Ent it lement-based single pane of glass tech & open architecture data solution(s) meet clients where they are at ( I nnovative, Differentiated, Flexible) Pe ople • Highly skilled in t he business segment(s) being served ( Uncertainty, frustration) Processes • O perat ional inefficiencies (high cost , inflexible) Technology • Closed ecosystem technology and dependent on 3 rd party solutions L everage expertise and technologies in clearing and custody to serve a broader client base
Page 21
21© 2025 Axos Financial, Inc. All Rights Reserved. 21 Customer Acquisition Sales Servicing Dist ribut ion › Digit al Marke t ing › Affinity and Distribution Partners › Data mining/ target feeding direct marke t ing › Cross -se lling › Aut omat e d fulfillme nt › Inbound call center sale s › Outbound call center sale s › Minimal out side sale s › Significant inside sale s › Se lf-se rvice › Digit al journe y › Dire ct banke r (call center) › Bal ance sheet › W hole loan sale s options › Se curit izat ion Data Driven Insight Integrated Customer Experience Digit al Market ing Digit ally Enabled Operations Next -Gen Technology Core Digit al Capabilit ies Axos’ Business Model is Differentiated From Other Banks
Page 22
22© 2025 Axos Financial, Inc. All Rights Reserved. 22 Evolving Capabilities of the UDB Platform UDB 1.0 UDB 2.0 W hit e Labe l UDB Banking: Axos deposit products Borrowing: Axos loan products Investing: Managed Portfolios, Self Directed Trading Planning: Account Aggregation, PFM, Credit Monitoring Personalized Offers + Content Co-branded Wealth Management SSO t o Enrollme nt Port als Unive rsal Enrollme nt : Single , digit al point of sale UDB offers a growing set of products, capabilities and integrations Small Busine ss Banking Products + FeaturesSegmentsEnable rs
Page 23
23© 2025 Axos Financial, Inc. All Rights Reserved. 23 Automation/ Straight -Through Processing Lo w-Code Development Art ificial Int elligence Offshoring • Axos Professional Workstation ( APW) devel opment • Code refresh for AAS’ advisor platforms: AL F and L iberty • New feature and pl atform devel opment for Axos Invest/ SDT • QC of various legal documents and contracts • St re amline various cre dit and port folio management functions (i.e. appraisal revi ews) • Automate additional risk and compliance monit oring t asks • Commercial spreading and manual credit underwriting tasks to ABC/ Acuity • Zenith bookkeeping support and journal entri es • Accounts payable and other accounting functions • L everage A PI s to streaml i ne workfl ows for clients on front end in new commercial deposit platform ( ACE) • Abstract authentication and entitlements out of core to make it more scalable and cust omizable Operational Productivit y Initiatives
Page 24
24© 2025 Axos Financial, Inc. All Rights Reserved. 24 Greg Garrabrants, President and CEO Derrick Walsh, EVP and CFO inve st ors@axosfinancial.com www.axosfinancial.com Johnny L ai, SVP Corporate Development and Investor Relations Phone: 858.649.2218 Mobi l e: 858.245.1442 jlai@axosfinancial.com Contact Information