May 9, 2023

Washington Federal

Washington Federal, Inc., the parent company of Washington Federal Bank, and Luther Burbank Corporation, the parent company of Luther Burbank Savings, jointly announced that at special meetings of their respective shareholders held on May 4, 2023, Washington Federal shareholders approved the issuance of shares of Washington Federal's common stock to the shareholders of Luther Burbank pursuant to the Agreement and Plan of Reorganization, (The Merger Agreement), dated as of November 13, 2022, and Luther Burbank's shareholders approved the Merger Agreement, the merger of Luther Burbank with and into Washington Federal, with Washington Federal as the surviving corporation. The final results on the proposals voted on at the special meetings of each company's shareholders will be set forth in the companies' separate Form 8-Ks to be filed with the U.S. Securities and Exchange Commission after certification by each company's inspector of election. The consummation of the Merger remains subject to customary closing conditions, including receipt of required regulatory approval. Washington Federal is headquartered in Seattle, and has 199 branches in eight western states. Washington Federal conducts its business primarily through its wholly-owned subsidiary, WaFd Bank. Luther Burbank is headquartered in Santa Rosa, California, and operates 10 full service branches in California, 1 full service branch in Washington, and several loan production offices located throughout California.