Market Overview

TFS Financial Corporation Declares Dividend

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TFS Financial Corporation (NASDAQ:TFSL) (the "Company"), the holding
company for Third Federal Savings and Loan Association of Cleveland (the
"Association"), today announced that the Board of Directors declared a
quarterly cash dividend of $0.25 per share, payable on September 24,
2018 to stockholders of record on September 10, 2018. The $0.25 dividend
is a 47% increase from the previous quarterly dividend paid by the
Company during the June 30, 2018 quarter.

This press release features multimedia. View the full release here:
https://www.businesswire.com/news/home/20180830005561/en/

Marc A. Stefanski Chairman and CEO Third Federal Savings and Loan (Photo: Business Wire)

Marc A. Stefanski Chairman and CEO Third Federal Savings and Loan (Photo: Business Wire)

Third Federal Savings and Loan Association of Cleveland, MHC (the
"MHC"), the mutual holding company of the Company and owner of
227,119,132 shares, or 81% of the Company's common stock outstanding,
has waived its right to receive the dividend on its shares.

On July 11, 2018, the MHC received the approval of its members
(depositors and certain loan customers of the Association) with respect
to the waiver of dividends, and subsequently received the non-objection
of the Federal Reserve Bank of Cleveland, to waive receipt of dividends
on the Company's common stock the MHC owns up to $1.00 per share during
the four quarters ending June 30, 2019. The MHC previously waived an
aggregate amount of $0.68 per share dividends paid by the Company during
the four quarters ending June 30, 2018.

Third Federal Savings and Loan Association is a leading provider of
savings and mortgage products, and operates under the values of love,
trust, respect, a commitment to excellence and fun. Founded in Cleveland
in 1938 as a mutual association by Ben and Gerome Stefanski, Third
Federal's mission is to help people achieve the dream of home ownership
and financial security. It became part of a public company in 2007 and
celebrated its 80th anniversary in May, 2018. Third Federal, which lends
in 21 states and the District of Columbia, is dedicated to serving
consumers with competitive rates and outstanding service. Third Federal,
an equal housing lender, has 21 full service branches in Northeast Ohio,
eight lending offices in Central and Southern Ohio, and 17 full service
branches throughout Florida. As of June 30, 2018, the Company's assets
totaled $13.9 billion.

This news release contains forward-looking statements as defined in the
Securities Exchange Act of 1934 and is subject to the safe harbors
created therein. The forward-looking statements contained herein
include, but are not limited to, the Company's plans regarding its
dividends. These forward-looking statements involve risks and
uncertainties that could cause the Company's results to differ
materially from management's current expectations. The Company's risks
and uncertainties are detailed in its filings with the Securities and
Exchange Commission, including our Annual Report on Form 10-K for the
fiscal year ended September 30, 2017. Forward-looking statements are
based on the beliefs and assumptions of our management and on currently
available information. The Company undertakes no responsibility to
publicly update or revise any forward-looking statement.

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