Pathward Financial Results Presentation Deck

0.58% 0.06% 0.09% 0.06% 1Q21 2Q21 3Q21 4Q21 COST OF DEPOSITS 20 1Q22 All-in Cost of Deposits Cost of Total Deposits 5.33% 3.08% Note: All-in Cost of Deposits represents cost of total deposits with the additional incorporation of the company's noninterest variable card processing expenses impacted by interest rates. Pathward Financial, Inc. (Nasdaq: CASH) | Quarterly Investor Presentation 1.84% 2Q22 3Q22 4Q22 1Q23 2Q23 3Q23 4Q23 1Q24 Cost of Interest Bearing Deposits Quarterly Average Effective Fed Funds Rate 0.21% COST OF DEPOSITS During the 2024 fiscal first quarter, approximately 53% of the deposit balances were subject to variable card processing expenses, derived from contractual agreements with certain BaaS partners tied to a rate index, typically the Effective Fed Funds Rate. These costs reprice immediately upon a change in the applicable rate index, leading to an instant cost change as compared to the earning-asset yields that will generally experience a lag in repricing. As of December 31, 2023, Pathward also managed $1.1 billion in off-balance sheet deposits and earned $5.1 million of recordkeeping service fee income during the fiscal first quarter. That income is also typically reflective of the Effective Fed Funds Rate. pathward

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