Axos Financial : Q2 2021 Earnings Supplement

Axos Financial, Inc. Q2 2021 Earnings Presentation

January 28, 2021

NYSE: AX

Safe Harbor

This presentation contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 (the "Reform Act"). The words "believe," "expect," "anticipate," "estimate," "project," or the negation thereof or similar expressions constitute forward-looking statements within the meaning of the Reform Act. These statements may include, but are not limited to, projections of revenues, income or loss, projected consummation of pending acquisitions, estimates of capital expenditures, plans for future operations, products or services, the effects of the COVID-19 pandemic, and financing needs or plans, as well as assumptions relating to these matters. Such statements involve risks, uncertainties and other factors that may cause actual results, performance or achievements of the Company and its subsidiaries to be materially

different from any future results, performance or achievements expressed or implied by such forward- looking statements. For a discussion of these factors, we refer you to the Company's reports filed with the Securities and Exchange Commission, including its Annual Report on Form 10-K for the year ended June 30, 2020 and our last earnings press release. In light of the significant uncertainties inherent in the forward-looking statements included herein, the inclusion of such information should not be regarded as a representation by the Company or by any other person or entity that the objectives and plans of the Company will be achieved. For all forward-looking statements, the Company claims the protection of the safe-harbor for forward-looking statements contained in the Reform Act.

2

Net Loan Growth by Category for Second
Quarter Ended December 31, 2020										$ Millions
																			Inc (Dec)
													Q2 FY21			Q1 FY21
															($144)
						$4,068		$4,212
					Jumbo Mortgage
		Single Family
		Mortgage &			1,185		723		462
			SF Warehouse Lending
		Warehouse
						1,930		1,904		26
		Multifamily &		Multifamily
		SB Commercial				433		395		38
		Mortgage		Small Balance
					Commercial										2,346		265
					CRE Specialty		2,611
		Commercial
		Real Estate					111		98		13
Loans &			Lender Finance RE
Leases								510		544		(34)
				Lender Finance Non RE
		Commercial &
		Industrial		Equipment Leasing		130		148		(18)
		Non-RE												175		118
					SBLOC & Other			293
																	(4)
							269		273
					Auto
		Auto &
		Consumer							58		57			1
			Unsecured / OD
					PPP		140		163		(23)
		Other
					Refund Advance &					11		17		(6)
					Other
						$11,749		$11,055		$ 694	3

Change in Allowance for Credit Losses (ACL) & Unfunded Loan Commitments Liability (UCL)

($ in millions)

$M
160
140	6.7		(1.0)	5.7
		11.5
120	(2.6)
(2.1)	(3.5)
100
80
60	132.9			136.4
40
20
0

September 30,	Commercial	Other Net	Reduction of	Other Net	December 31,
2020	Lease Charge-	Charge-offs	Provision for	Provisions	2020
ACL + UCL	off		HRB Refund		ACL + UCL
			Advance		4
			Loans