septsupplement

Axos Q1 Fiscal 2026 Earnings Supplement NYSE: AXOctober 30, 2025

2 © 2025 Axos Financial, Inc. All Rights Reserved. 2 Loan Growth by Category $ Millions SF Warehouse Lending Multifamily Small Balance Commercial Jumbo Mortgage Asset-Based and Cash Flow Lending1 Lender Finance Non-RE Capital Call Facilities Auto Unsecured/OD Single Family Mortgage & Warehouse Multifamily & Commercial Mortgage Commercial Real Estate Commercial & Industrial Non-RE Loans Inc (Dec)Q4 FY25Q1 FY26 $ (33)$ 3,786$ 3,753 179609788 (144)1,7291,585 (3)1,2121,209 3375,7136,050 211,2241,245 202,5672,587 1,3142,6333,947 (149)1,5961,447 41430471 85260 (1)1— $ 1,590$ 21,552$ 23,142 Lender Finance RE CRE Specialty Other Auto & Consumer Note 1: Asset-Based and Cash Flow Lending as of Q1 FY26 includes $1,020 million of loans and leases from the Verdant acquisition.

3 © 2025 Axos Financial, Inc. All Rights Reserved. 3 Three Months Ended September 30, 2025Three Months Ended June 30, 2025 Axos ReportedVCC Impact Axos excluding VCCAxos Reported($ millions) $ 291.1$ —$ 291.1$ 280.2Net interest income (17.3)(7.8)(9.5)(15.0)Provision for credit losses 32.3—32.341.3Non-interest income (156.2)(1.3)(154.9)(150.7)Non-interest expense $ 112.4$ (6.8)$ 119.2$ 110.7Net Income2 Income Statement Verdant Commercial Capital ("VCC") Acquisition Impact Note 1: Provision for credit losses reflects the "Day 1" adjustment to the allowance for credit losses following acquisition; non-interest expense reflects acquisition-related expenses incurred by Axos in connection with the acquisition. Note 2: Represents the total as included in Axos Financial, Inc.'s consolidated income statements, not the summation of components listed above

4 © 2025 Axos Financial, Inc. All Rights Reserved. 4 As of September 30, 2025As of June 30, 2025 Axos ReportedVCC Impact1Axos (excluding VCC)Axos Reported($ millions) $ 2,560.7$ 31.6$ 2,529.1$ 1,933.8Cash and cash equivalents 324.934.9290.0242.5Restricted cash 22,635.11,020.321,614.821,049.6 Loans—net of allowance for credit losses 205.772.8132.9134.5Goodwill and intangibles, net 1,127.7223.8903.9891.4Other assets $ 27,431.8$ 1,383.5$ 26,048.3$ 24,783.1Total assets2 $ 782.4$ 782.4$ —$ —Secured financings 431.029.3401.7410.2Accounts payable and other liabilities $ 24,638.7$ 811.7$ 23,827.0$ 22,102.4Total liabilities2 Note 1: Other assets includes $212.6 million of equipment under operating lease arrangements. Note 2: Represents the total as included in Axos Financial, Inc.'s consolidated balance sheets, not the summation of components listed above Balance Sheet Verdant Commercial Capital ("VCC") Acquisition Impact

5 © 2025 Axos Financial, Inc. All Rights Reserved. 5 Diversified Deposit Gathering 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 › Software allows servicing of SEC receivers and non-chapter 7 cases › Full service digital banking, wealth management, and securities trading › White-label banking › Business banking with simple suite of cash management services › 1031 exchange firms › Title and escrow companies › HOA and property management › Business management and entertainment › Broker-dealer client cash › Broker-dealer reserve accounts › Full service treasury/cash management › Team enhancements and geographic expansion › Bank and securities cross-sell Fiduciary Services $1.1B Consumer Direct $12.0B Specialty Deposits $2.6B Distribution Partners $0.3B Axos Securities1 $1.1B Small Business Banking $0.7BCommercial & Treasury Management $4.5B Diversified Deposit Gathering Business Lines Approximately 90% of deposits are FDIC-insured or collateralized

7 © 2025 Axos Financial, Inc. All Rights Reserved. 7 Credit Quality ($ millions) %Non-Accrual LoansLoans O/SSeptember 30, 2025 1.50 %$ 68$ 4,541Single Family-Mortgage & Warehouse 0.57162,794Multifamily and Commercial Mortgage 0.30227,295Commercial Real Estate 0.78627,981Commercial & Industrial - Non-RE 0.382531Auto & Consumer 0.74 %$ 170$ 23,142Total %Non-Accrual LoansLoans O/SJune 30, 2025 1.00 %$ 44$ 4,395Single Family-Mortgage & Warehouse 1.12332,941Multifamily and Commercial Mortgage 0.42296,937Commercial Real Estate 0.91626,796Commercial & Industrial - Non-RE 0.412483Auto & Consumer 0.79 %$ 170$ 21,552Total %Non-Accrual LoansLoans O/SSeptember 30, 2024 1.42 %$ 59$ 4,152Single Family-Mortgage & Warehouse 0.85313,647Multifamily and Commercial Mortgage 0.66416,256Commercial Real Estate 0.82445,355Commercial & Industrial - Non-RE 0.482416Auto & Consumer 0.89 %$ 177$ 19,826Total

8 © 2025 Axos Financial, Inc. All Rights Reserved. 8 September 30, 2024 December 31, 2024 March 31, 2025 June 30, 2025 September 30, 2025 Selected Balance Sheet Data: $ 23,569,084$ 23,709,422$ 23,981,154$ 24,783,078$ 27,431,817Total assets 19,280,60919,486,72720,193,63021,049,61022,635,137Loans—net of allowance for credit losses 14,56625,43615,64410,01212,202Loans held for sale, carried at fair value 263,854270,605279,950290,049307,431Allowance for credit losses 594241346649533Securities—trading 137,99697,84879,95866,00857,798Securities—available-for-sale 84,326114,67291,915139,396182,518Securities borrowed 262,774298,887300,907252,720263,095Customer, broker-dealer and clearing receivables 19,973,32919,934,90420,136,71420,829,54322,264,753Total deposits 90,00060,00060,00060,00060,000Advances from the FHLB ————782,423Secured financings 313,519358,692377,427312,671510,064Borrowings, subordinated notes and debentures 95,883135,258111,094139,426204,620Securities loaned 315,985309,593314,399350,606385,821Customer, broker-dealer and clearing payables $ 2,405,728$ 2,521,962$ 2,603,900$ 2,680,677$ 2,793,121Total stockholders’ equity 57,092,21657,097,63256,865,52456,483,61756,643,547Common shares outstanding at end of period 70,562,33370,571,33270,813,63771,101,64271,356,152Common shares issued at end of period Per Common Share Data: $ 42.14$ 44.17$ 45.79$ 47.46$ 49.31Book value per common share $ 39.22$ 41.27$ 42.91$ 44.60$ 45.21Tangible book value per common share (Non-GAAP)1 Capital Ratios: 10.21 %10.64 %10.86 %10.82 %10.18 %Equity to assets at end of period Axos Financial, Inc.: 9.78 %10.02 %10.45 %10.73 %10.26 %Tier 1 leverage (to adjusted average assets) 12.44 %12.42 %12.39 %12.52 %11.66 %Common equity tier 1 capital (to risk-weighted assets) 12.44 %12.42 %12.39 %12.52 %11.66 %Tier 1 capital (to risk-weighted assets) 15.29 %15.23 %15.21 %15.28 %15.20 %Total capital (to risk-weighted assets) Axos Bank: 9.82 %9.85 %10.14 %10.23 %9.69 %Tier 1 leverage (to adjusted average assets) 12.87 %12.67 %12.31 %12.42 %11.37 %Common equity tier 1 capital (to risk-weighted assets) 12.87 %12.67 %12.31 %12.42 %11.37 %Tier 1 capital (to risk-weighted assets) 14.06 %13.86 %13.49 %13.70 %12.62 %Total capital (to risk-weighted assets) Axos Clearing LLC: $ 85,292$ 83,932$ 79,264$ 86,996$ 91,442Net capital $ 80,081$ 78,282$ 73,172$ 81,834$ 86,042Excess capital 32.73 %29.71 %26.02 %33.71 %33.87 %Net capital as a percentage of aggregate debit items $ 72,264$ 69,805$ 64,035$ 74,091$ 77,942Net capital in excess of 5% aggregate debit items AXOS FINANCIAL, INC. SELECTED FINANCIAL INFORMATION (Unaudited – dollars in thousands)

9 © 2025 Axos Financial, Inc. All Rights Reserved. 9 At or For The Three Months Ended September 30, 2024 December 31, 2024 March 31, 2025 June 30, 2025 September 30, 2025 Selected Income Statement Data: $ 484,262$ 456,068$ 432,722$ 442,413$ 465,736Interest and dividend income 192,214175,969157,258162,252174,686Interest expense 292,048280,099275,464280,161291,050Net interest income 14,00012,24814,50014,99717,255Provision for credit losses 278,048267,851260,964265,164273,795Net interest income, after provision for credit losses 28,60927,79933,37341,28532,340Non-interest income 147,465145,320146,261150,652156,246Non-interest expense 159,192150,330148,076155,797149,889Income before income taxes 46,85245,64342,87045,12237,537Income taxes $ 112,340$ 104,687$ 105,206$ 110,675$ 112,352Net income Weighted average number of common shares outstanding: 56,934,67157,094,15357,029,07856,392,62056,512,587Basic 58,168,46858,226,00658,174,69657,782,82857,782,828Diluted Per Common Share Data: Net income: $ 1.97$ 1.83$ 1.84$ 1.96$ 1.99Basic $ 1.93$ 1.80$ 1.81$ 1.92$ 1.94Diluted $ 1.96$ 1.82$ 1.81$ 1.94$ 2.07Adjusted earnings per common share (Non-GAAP)1 Performance Ratios and Other Data: $ 49,224$ 206,118$ 706,903$ 855,980$ 1,585,527Growth in loans held for investment, net $ 69,570$ 66,826$ 20,962$ 42,487$ 47,122Loan originations for sale 1.92 %1.74 %1.77 %1.85 %1.77 %Return on average assets 19.12 %16.97 %16.44 %16.85 %15.94 %Return on average common stockholders’ equity 4.13 %3.91 %3.91 %3.97 %3.89 %Interest rate spread2 5.17 %4.83 %4.78 %4.84 %4.75 %Net interest margin3 5.21 %4.87 %4.83 %4.88 %4.80 %Net interest margin3 – Banking Business Segment 45.99 %47.20 %47.36 %46.87 %48.32 %Efficiency ratio4 39.83 %40.95 %41.53 %40.94 %42.89 %Efficiency ratio4 – Banking Business Segment Asset Quality Ratios: 0.17 %0.10 %0.09 %0.16 %0.11 %Net annualized charge-offs to average loans 0.89 %1.26 %0.89 %0.79 %0.74 %Nonaccrual loans to total loans 0.75 %1.06 %0.79 %0.71 %0.64 %Non-performing assets to total assets 1.35 %1.37 %1.37 %1.36 %1.34 %Allowance for credit losses - loans to total loans held for investment 149.32 %107.58 %151.28 %170.23 %180.41 %Allowance for credit losses - loans to non-performing loans 1 See “Use of Non-GAAP Financial Measures” herein. 2 Interest rate spread represents the difference between the annualized weighted average yield on interest-earning assets and the annualized weighted average rate paid on interest-bearing liabilities. 3 Net interest margin represents annualized net interest income as a percentage of average interest-earning assets. 4 Efficiency ratio represents non-interest expense as a percentage of the aggregate of net interest income and non-interest income. AXOS FINANCIAL, INC. SELECTED FINANCIAL INFORMATION (Unaudited – dollars in thousands)

10 © 2025 Axos Financial, Inc. All Rights Reserved. 10 September 30, 2024 December 31, 2024 March 31, 2025 June 30, 2025 September 30, 2025(Dollars in thousands, except per share amounts) $ 112,340$ 104,687$ 105,206$ 110,675$ 112,352Net income 2,5541,6451,6041,6042,941Acquisition-related costs1 ————7,765Verdant acquisition - Provision for credit losses ——(1,879)——Other costs2 (752)(503)80(465)(2,681)Income taxes $ 114,142$ 105,829$ 105,011$ 111,814$ 120,377Adjusted earnings (non-GAAP) 58,168,46858,226,00658,174,69657,558,28057,782,828Average dilutive common shares outstanding $ 1.93$ 1.80$ 1.81$ 1.92$ 1.94Diluted EPS 0.040.030.030.030.05Acquisition-related costs1 ————0.13Verdant acquisition - Provision for credit losses ——(0.03)——Other costs2 (0.01)(0.01)—(0.01)(0.05)Income taxes $ 1.96$ 1.82$ 1.81$ 1.94$ 2.07Adjusted EPS (Non-GAAP) 1 Acquisition-related costs includes amortization of intangible assets, and for the three months ended September 30, 2025, also includes $1.3 million of acquisition-related costs associated with the Verdant acquisition. 2 Other costs for the three months ended March 31, 2025, primarily reflects the payment of a legal judgment at an amount less than previously accrued. We define “tangible book value”, a non-GAAP financial measure, as book value adjusted for goodwill and other intangible assets. Tangible book value is calculated using common stockholders’ equity minus servicing rights, goodwill and other intangible assets. Tangible book value per common share, a non-GAAP financial measure, is calculated by dividing tangible book value by the common shares outstanding at the end of the period. We believe tangible book value per common share is useful in evaluating the Company’s capital strength, financial condition, and ability to manage potential losses. Below is a reconciliation of total stockholders’ equity, the nearest comparable GAAP measure, to tangible book value per common share (non-GAAP) as of the dates indicated: September 30, 2024 December 31, 2024 March 31, 2025 June 30, 2025 September 30, 2025(Dollars in thousands, except per share amounts) $ 2,405,728$ 2,521,962$ 2,603,900$ 2,680,677$ 2,793,121Common stockholders’ equity 27,33528,04527,58527,21826,243Less: servicing rights, carried at fair value 139,215137,570135,966134,502205,747Less: goodwill and intangible assets $ 2,239,178$ 2,356,347$ 2,440,349$ 2,518,957$ 2,561,131Tangible common stockholders’ equity (Non-GAAP) 57,092,21657,097,63256,865,52456,483,61756,643,547Common shares outstanding at end of period $ 42.14$ 44.17$ 45.79$ 47.46$ 49.31Book value per common share $ 0.48$ 0.49$ 0.49$ 0.48$ 0.46Less: servicing rights, carried at fair value per common share $ 2.44$ 2.41$ 2.39$ 2.38$ 3.63Less: goodwill and other intangible assets per common share $ 39.22$ 41.27$ 42.91$ 44.60$ 45.22Tangible book value per common share (Non-GAAP) In addition to the results presented in accordance with GAAP, this earnings supplement includes non-GAAP financial measures such as adjusted earnings, adjusted earnings per diluted common share, and tangible book value per common share. Non-GAAP financial measures have inherent limitations, may not be comparable to similarly titled measures used by other companies and are not audited. Readers should be aware of these limitations and should be cautious as to their reliance on such measures. Although we believe the non-GAAP financial measures disclosed in this report enhance investors’ understanding of our business and performance, these non-GAAP measures should not be considered in isolation, or as a substitute for GAAP basis financial measures. We define “adjusted earnings”, a non-GAAP financial measure, as net income without the after-tax impact of non-recurring acquisition-related costs and other costs (unusual or non-recurring charges). Adjusted earnings per diluted common share (“adjusted EPS”), a non-GAAP financial measure, is calculated by dividing non-GAAP adjusted earnings by the average number of diluted common shares outstanding during the period. We believe the non-GAAP measures of adjusted earnings and adjusted EPS provide useful information about the Company’s operating performance. We believe excluding the non-recurring acquisition related costs and other costs (unusual or non-recurring) provides investors with an alternative understanding of Axos’ core business. Below is a reconciliation of net income, the nearest comparable GAAP measure, to adjusted earnings and adjusted EPS (Non-GAAP) for the periods shown: Use of Non-GAAP Financial Measures

11 © 2025 Axos Financial, Inc. All Rights Reserved. 11 Greg Garrabrants, President and CEO Derrick Walsh, EVP and CFO investors@axosfinancial.com www.axosfinancial.com Johnny Lai, SVP Corporate Development and Investor Relations Phone: 858.649.2218 Mobile: 858.245.1442 jlai@axosfinancial.com Contact Information