Axos Financial, Inc.

Cash flow information is as follows:

During the three months ended September 30, 2026, we had net cash inflows from operating activities of $294.9 million compared to inflows of $118.4 million for the three months ended September 30, 2025. Net operating cash inflows and outflows fluctuate primarily due to the timing of the following: originations of loans held for sale, proceeds from loan sales, securities borrowed and loaned, and customer, broker-dealer and clearing receivables and payables and changes in other assets and payables.

Net cash outflows from investing activities totaled $404.8 million for the three months ended September 30, 2026, while outflows totaled $1,033.4 million for the three months ended September 30, 2025. The decrease in outflows was primarily due to the absence of the Verdant acquisition in the current quarter as well as a lower net change in loans held for investment at amortized cost and at fair value.

Net cash inflows from financing activities totaled $678.7 million for the three months ended September 30, 2026, compared to net cash inflows from financing activities of $1,624.2 million for the three months ended September 30, 2025. The decrease in net cash inflows from financing was primarily driven by a lower increase in deposits in the current quarter, and the issuance of $200 million of subordinated debt in the three months ended September 30, 2025.

As of September 30, 2026, the Bank could borrow up to 35% of its total assets from the FHLB. Borrowings are collateralized by pledging certain mortgage loans and available-for-sale securities to the FHLB. At September 30, 2026, the Company had $3,060.0 million available immediately and $6,684.6 million available with additional collateral and the Company had $3,635.8 million of loans and $750.1 million of securities pledged to the FHLB. At September 30, 2026, the Company had $250.0 million in unsecured federal funds lines of credit with five major banks under which there were no borrowings outstanding.

The Bank has the ability to borrow short-term from the FRBSF Discount Window. At September 30, 2026, the Bank did not have any borrowings outstanding and the amount available from this source was $9,999.7 million. Borrowings are collateralized by pledging commercial loans and consumer loans. At September 30, 2026, the Bank had $11,553.3 million of loans pledged to the FRBSF.

Axos Clearing has a $150.0 million third-party secured line of credit available for borrowing, as needed. As of September 30, 2026, there was no amount outstanding on this credit facility. This credit facility bears interest at rates based on the Federal Funds rate and is due upon demand.

In July 2026, Axos Clearing terminated a $95.0 million third-party unsecured line of credit which was available for limited purpose borrowing.

We view our liquidity sources to be stable and adequate for our anticipated needs and contingencies for both the short- and long-term. Due to the diversified sources of our deposits, while maintaining approximately 85% of our total Bank deposits in insured or collateralized accounts as of September 30, 2026, we believe we have the ability to increase our level of deposits, and have available other potential sources of funding, to address our liquidity needs for the foreseeable future.

For additional information on certain contractual and other obligations, see Note 10—“Commitments and Contingencies,” Note 11—“Other Assets”and Note 12—“Variable Interest Entities” in the accompanying interim condensed consolidated financial statements and refer to Note 11—“Deposits,” Note 12—“Advances from the Federal Home Loan Bank,”Note 13—“Variable Interest Entities” and Note 14—“Borrowings, Subordinated Notes and Debentures” in the 2026 Form 10-K.

On January 28, 2025, the Company entered into an equity distribution agreement pursuant to which the Company may issue and sell through distribution agents from time to time shares of the Company’s common stock in at-the-market offerings with an aggregate offering price of up to $150,000,000. The Company will issue the stock pursuant to a previously effective registration statement and a prospectus supplement filed with the SEC on January 28, 2025. No shares of the Company’s common stock have been issued pursuant to this offering.