Investor Presentaiton

Key Assumptions Earnings Assumptions • WAFD's earnings per Street consensus estimates • LBC's earnings per Street consensus estimates less 30% given Luther Burbank's liability-sensitive balance sheet and adjusted for a September 30 fiscal year end Merger Costs • One-time merger expenses: $37.0 million, pre-tax Synergies . • Cost savings estimated at 25% of LBC's 2023 estimated noninterest expense Phased in 50% in 2023 and 100% thereafter Gross credit mark: $36.0 million, or 0.53% of total loans (equal to 1.0x reserve) • Non-PCD loan credit mark: $21.6 million, accreted back into earnings over 4 years using sum-of-years digits PCD loan credit mark: $14.4 million Loan Credit Marks . Interest Rate Marks (pre-tax) Other Assumptions • Due Diligence Establishment of new reserve equal to $14.4 million • Net rate mark (excluding AOCI) of 2.51%, expressed as a percentage of gross loans ($202) million of loans rate mark accreted straight-line over 3.4 years • . ($52) million of securities rate mark (including AOCI) accreted straight-line over 5 years • $37 million (1) of time deposits, brokered CDs, FHLB borrowings, trust preferred securities and senior debt ($59) million of deferred loan fees (pre-tax) accreted straight-line over 8 years Core deposit intangible: 1.0% of LBC's $3.2 billion core deposits, amortized using sum-of-years-digits over 7 years • No estimated annual interchange revenue loss attributable to Durbin Comprehensive financial, legal, regulatory and operational due diligence conducted (1) Amortized in the pro forma financials over a range of 1 to 10 years. WaFd Bank 15

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