Axos Financial, Inc. · NYSE:AX
Axos Financial — Q3 2025 Earnings Presentation
26 slides from Axos Financial's earnings presentation, Apr 30, 2025
Slide 1: Axos Financial, Inc. Investor Presentation
Axos Financial, Inc. Investor Presentation May 5, 2025 NYSE: AX
Slide 2: Safe Harbor
Safe Harbor This presentation contains forward-looking statements that involve risks and uncertainties, including without limitation statements relating to Axos Financial, Inc.’s (“Axos”) financial prospects and other projections of its performance and asset quality, Axos’ deposit balances and capit
Slide 3: Axos Financial's Three Divisions Provide the Foundation for Sustained Long-term Growth
Axos Financial’s Three Divisions Provide the Foundation for Sustained Long-term Growth Investment Thesis › Diverse mix of assets, deposits, and fee income reduces risk and provides multiple growth opportunities in varying environments › Asset-based lending at low loan-to-values Consumer has resulted
Slide 4: Axos is a Top Performer Versus Bank Peer Group
Axos is a Top Performer Versus Bank Peer Group Axos Bank Peer Group1 Percentile ROAA 1.71% 0.54% 93% Return on Equity 17.13% 5.22% 93% NIE/Avg Assets 2.00% 2.39% 28% Net Interest Income 4.60% 2.55% 96% Efficiency Ratio 42.32% 76.52% 6% The 93% on ROE means that the Bank outperformed 93% of all banks
Slide 5: Diluted EPS and Book Value Per Share Have Been Consistently Strong
Diluted EPS and Book Value Per Share Have Been Consistently Strong Diluted EPS (FY) Book Value Per Share (FY) $ Per Share $ Per Share 18.2% CAGR 25.3% CAGR 5
Slide 6: Expanding Net Interest Margin Through a Variety of Interest Rate Cycles
Expanding Net Interest Margin Through a Variety of Interest Rate Cycles1 4.35% Note 1: The Company partnered with H&R Block Bank (HRB) to provide HRB branded financial products. The partnership was terminated December 6 8, 2020. NIM excludes impact of HRB.
Slide 7: Interest Rate Sensitivity of Loans & Deposits
Interest Rate Sensitivity of Loans & Deposits As of March 31, 2025 Loans Deposits • Of the fixed and hybrid rate loan balances in our portfolio at March 31, 2025, Non-Time Deposits by Interest 61% will reprice within 3 years and Rate 90% will reprice within 5 years. (Dollars in Thousands) Interest R
Slide 8: Loan Growth by Category
Loan Growth by Category $ Millions Q3 FY25 Q2 FY25 Inc (Mar) Single Family Jumbo Mortgage $ 3,697 $ 3,641 $ 56 Mortgage & Warehouse SF Warehouse Lending 498 509 (11) Multifamily & Multifamily 2,059 2,148 (89) Commercial Mortgage Small Balance Commercial 1,281 1,283 (2) CRE Specialty 5,371 5,301 70 C
Slide 9: Holistic Credit Risk Management
Holistic Credit Risk Management What We Do Utilize a holistic credit-risk management framework to manage and monitor credit quality at each stage of the loan life cycle, and leverage specialized Credit Tools to optimize monitoring and reporting capabilities Credit Monitoring & Oversight Loan Life Po
Slide 10: Annualized Charge-offs to Average Loans Outstanding
Annualized Charge-offs1 to Average Loans Outstanding Strong Credit Performance Exhibited through Low Charge-off Ratios 10 Note 1: The Company partnered with H&R Block Bank (HRB) to provide HRB branded financial products. The partnership was terminated December 8, 2020.
Slide 11: Change in Allowance for Credit Losses (ACL) & Unfunded Loan Commitments Reserve (UCL)
Change in Allowance for Credit Losses (ACL) & Unfunded Loan Commitments Reserve (UCL) ($ in millions) 6.2 ACL + UCL ACL + UCL 11
Slide 12: Allowance for Credit Losses (ACL) by Loan Category
Allowance for Credit Losses (ACL) by Loan Category as of March 31, 2025 $ Millions Loan Balance ACL $ ACL %1 Single Family Mortgage & Warehouse $ 4,195 15 0.4 % Multifamily & Commercial Mortgage 3,341 48 1.4 % Loans Commercial Real Estate 6,356 90 1.4 % Commercial & Industrial Non-RE 6,390 114 1.8 %
Slide 13: Commercial Real Estate Specialty Detail: LTV Distribution
Commercial Real Estate Specialty1 Detail as of March 31, 2025 Balance Non-Accrual Loans Loan Type (mm) Weighted Avg. LTV (mm) Multifamily $ 1,485 43 % $ — SFR 1,211 38 15 Industrial 957 58 — Hotel 836 41 — Office 380 30 5 Other 326 37 15 Retail 176 43 — Total $ 5,371 42 % $ 35 LTV Distribution 13 No
Slide 14: Commercial Real Estate Specialty Detail
Commercial Real Estate Specialty1 Detail as of March 31, 2025 67% of total Commercial Real Estate Specialty balance at March 31, 2025 is indirect note structures where Axos has first payment priority; these loans carry a weighted-average LTV of 39%. Loan Type Balance (mm) Weighted Avg. LTV Construct
Slide 15: Diversified Deposit Gathering
Diversified Deposit Gathering Approximately 90% of deposits are FDIC-insured or collateralized › Serves approximately 40% of U.S. Chapter 7 › Full service digital banking, wealth bankruptcy trustees in exclusive relationship management, and securities trading › Software allows servicing of SEC recei
Slide 16: Deposit Growth in Checking, Business, and Savings Was Achieved While Transforming the Mix of Deposits
Deposit Growth in Checking, Business, and Savings Was Achieved While Transforming the Mix of Deposits June 30, 2013 March 31, 2025 Total Deposits = $2.1 billion Total Deposits = $20.1 billion Checking and Time deposits other demand deposits Checking and other demand Time deposits deposits Savings Sa
Slide 17: Customer Base and Deposit Volume is Well Distributed Throughout the United States
Customer Base and Deposit Volume is Well Distributed Throughout the United States Axos Deposits Have National Reach With Customers in Every State 17
Slide 18: Non-Interest Income Growth and Diversification
Non-Interest Income Growth and Diversification Year Ended Three Months Ended June 30, 2019 March 31, 2025 Total Non-Interest Income = Total Non-Interest Income = $82.9 million $133.5 million1 Securities Segment Fee Income2 (6/2019 – 3/2025) = 562% Note 1: Represents annualized quarterly March 31, 20
Slide 19: Axos Clearing and Custody Highlights
Axos Clearing and Custody Highlights Three Months Ended March 31, 2025 Custody $ 8,119,686 › Leadership team Clearing Fees & Execution 7,546,235 with more than 100 years combined Cash Sorting 14,601,737 industry experience. Margin Lending 4,364,553 › Proprietary front- Securities Lending 1,428,541 a
Slide 20: Axos Advisor Services (AAS) At A Glance
Axos Advisor Services (AAS) At A Glance Liberty Provides a Comprehensive Turnkey Platform Serving 212 RIAs1 ($1M+ AUC) ~$28B Assets Under Custody Automatic Reconciliation TAMPs Traditional Small RIAs RIAs 57% of Total 41% of Total AUC 2% of Total AUC AUC Gathers and manages Advisors with <$25M in Tu
Slide 21: Secular Industry Trends Provide Opportunities for Axos
Secular Industry Trends Provide Opportunities for Axos › RIAs need to reduce costs and streamline back-office Fee Compression for ops Active and Passive › Automation frees up time/resources for client Investment Managers interactions › Axos to provide bundled securities clearing, Advisors are Leavin
Slide 22: Axos Clearing Long-Term Revenue and Expense Synergies
Axos Clearing Long-Term Revenue and Expense Synergies Revenue Synergies Cost Synergies Axos Securities: Axos Securities: › Margin Loans › Self-Clearing › Securities Lending Axos Custody › Regulatory/Compliance › Fixed Income Trading › Client Acquisition Costs › Order Flow › Customer Service › White-
Slide 23: Axos' Business Model is Differentiated From Other Banks
Axos’ Business Model is Differentiated From Other Banks Customer Sales Servicing Distribution Acquisition › Digital Marketing › Automated › Self-service › Balance sheet fulfillment › Affinity and › Digital journey › Whole loan sales Distribution › Inbound call center options › Direct banker (call Pa
Slide 24: Key Goals of Universal Digital Bank
Key Goals of Universal Digital Bank › Increase chances of offering right product at the right time and place Personalization › Personalization is the right antidote for too much choice, too much content, and not enough time › Automation tools assist customer support and sale of banking products such
Slide 25: Evolving Capabilities of the UDB Platform
Evolving Capabilities of the UDB Platform UDB offers a growing set of products, capabilities and integrations UDB 1.0 UDB 2.0 White Label UDB Banking: Axos deposit products Products + Features Borrowing: Axos loan products Investing: Managed Portfolios, Self Directed Trading Planning: Account Aggreg
Slide 26: Contact Information
Contact Information 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 26