Company: AX
Filing Date: 2025-09-25
Form Type: DEF 14A
Source: 0001299709-25-000174
Chunk: 32

Company: Axos Financial, Inc.
Filing Date: 2025-09-25
Form: DEF 14A
Chunk 32
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% (After-Tax Net Income - Target Net Income)</div>

| Compensation Formula Variable                        |     |            Fiscal Year 2025 Results |
| Annual Target Cash Bonus                             
 Salary × 150%                                        |     |        $700,000 × 150% = $1,050,000 |
| Individual Factor                                    |     |                                0.95 |
| Fiscal Year 2025 Net Income                          |     |                        $432,908,469 |
| Target Net Income                                    
 15% of Average Common Equity(1)                      |     | 15% x $2,522,332,442 = $378,349,866 |
| Fiscal Year 2025 Annual Cash Bonus(2)                
 $1,050,000 x 0.95 + 2% ($432,908,469 - $378,349,866) 
 $2,088,672                                           |     |                                     |

(1) Based on the 12 month spot average per the Agreement.

(2) The $2,088,672 short-term cash incentive compensation was paid to the CEO in September 2025, following the approval of the Compensation Committee.

| 42 |

#### Compensation Discussion & Analysis

#### 15% Target Return on Equity
According to the performance criteria set by the Compensation Committee, in order for the CEO to earn the full annual target cash bonus, the Company must achieve an annual return on average common equity equal to at least 15%. In order to set the 15% goal at the time of the initial agreement, the Compensation Committee evaluated return on equity rates for 812 exchange-traded banks tracked by SNL Financial Global Market Intelligence. The Board believes industry performance data demonstrates that this 15% return on equity target is a highly rigorous performance metric achieved by few public banks in any one year and even fewer consistently at the Company’s size.

The Compensation Committee considers the following factors in determining the 15% target return on equity.

| Compensation Objective & Rationale                                                          |     |                                                                                                                                                                                                                                                                                                                      |
| Annual Target Bonus only paid for exceptional performance                                   |     | •Annual Target Cash Bonus, consisting of the 150% of salary, is set at the 56th percentile of the Peer Group at the time of the initial agreement                                                                                                                                                                    
 •Full Annual Target Cash Bonus is only achieved by reaching a 15% target return on equity                                                                                                                                                                                                                            |
| Requires return on equity equal to or in excess of 15%                                      |     | •Rigorous metric initially set to approximate