<SEC-DOCUMENT>0001193125-20-164635.txt : 20200609
<SEC-HEADER>0001193125-20-164635.hdr.sgml : 20200609
<ACCEPTANCE-DATETIME>20200609160622
ACCESSION NUMBER:		0001193125-20-164635
CONFORMED SUBMISSION TYPE:	PREC14A
PUBLIC DOCUMENT COUNT:		1
FILED AS OF DATE:		20200609
DATE AS OF CHANGE:		20200609

SUBJECT COMPANY:	

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			BROADWAY FINANCIAL CORP \DE\
		CENTRAL INDEX KEY:			0001001171
		STANDARD INDUSTRIAL CLASSIFICATION:	SAVINGS INSTITUTION, FEDERALLY CHARTERED [6035]
		IRS NUMBER:				954547287
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		PREC14A
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-39043
		FILM NUMBER:		20951880

	BUSINESS ADDRESS:	
		STREET 1:		5055 WILSHIRE BLVD STE 500
		CITY:			LOS ANGELES
		STATE:			CA
		ZIP:			90036
		BUSINESS PHONE:		3236341700

	MAIL ADDRESS:	
		STREET 1:		5055 WILSHIRE BLVD STE 500
		CITY:			LOS ANGELES
		STATE:			CA
		ZIP:			90036

FILED BY:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			Capital Corps, LLC
		CENTRAL INDEX KEY:			0001798750
		IRS NUMBER:				201938893
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		PREC14A

	BUSINESS ADDRESS:	
		STREET 1:		16845 VON KARMAN AVENUE, SUITE #200
		CITY:			IRVINE
		STATE:			CA
		ZIP:			92606
		BUSINESS PHONE:		323-329-8303

	MAIL ADDRESS:	
		STREET 1:		16845 VON KARMAN AVENUE, SUITE #200
		CITY:			IRVINE
		STATE:			CA
		ZIP:			92606
</SEC-HEADER>
<DOCUMENT>
<TYPE>PREC14A
<SEQUENCE>1
<FILENAME>d938608dprec14a.htm
<DESCRIPTION>PREC14A
<TEXT>
<HTML><HEAD>
<TITLE>PREC14A</TITLE>
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<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="line-height:1.0pt;margin-top:0pt;margin-bottom:0pt;border-bottom:1px solid #000000">&nbsp;</P>
<P STYLE="line-height:3.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1px solid #000000">&nbsp;</P> <P STYLE="margin-top:4pt; margin-bottom:0pt; font-size:16pt; font-family:Times New Roman" ALIGN="center"><B>UNITED STATES </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:16pt; font-family:Times New Roman" ALIGN="center"><B>SECURITIES AND EXCHANGE COMMISSION </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:11pt; font-family:Times New Roman" ALIGN="center"><B>Washington, D.C. 20549 </B></P> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><center>
<P STYLE="line-height:6.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1.00pt solid #000000;width:21%">&nbsp;</P></center> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:16pt; font-family:Times New Roman" ALIGN="center"><B>SCHEDULE 14A
</B></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:11pt; font-family:Times New Roman" ALIGN="center"><B>(Rule <FONT STYLE="white-space:nowrap">14a-101)</FONT> </B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:11pt; font-family:Times New Roman" ALIGN="center"><B>(Amendment No.&nbsp;&nbsp;&nbsp;&nbsp;) </B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:11pt; font-family:Times New Roman" ALIGN="center"><B>INFORMATION REQUIRED IN PROXY STATEMENT </B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:11pt; font-family:Times New Roman" ALIGN="center"><B>SCHEDULE 14A INFORMATION </B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:11pt; font-family:Times New Roman" ALIGN="center"><B>Proxy Statement Pursuant to Section&nbsp;14(a) of The Securities Exchange Act of 1934 </B></P>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><center> <P STYLE="line-height:6.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1.00pt solid #000000;width:21%">&nbsp;</P></center>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:Times New Roman">Filed by the
Registrant&nbsp;&nbsp;&#9744;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Filed by a Party other than the
Registrant&nbsp;&nbsp;&#9746;</P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:Times New Roman">Check the appropriate box: </P> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:9pt">
<TD VALIGN="top">&#9746;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">Preliminary Proxy Statement</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:9pt">
<TD VALIGN="top">&#9744;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">Confidential, for Use of the Commission Only&nbsp;(as permitted by Rule <FONT STYLE="white-space:nowrap">14a-6(e)(2))</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:9pt">
<TD VALIGN="top">&#9744;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">Definitive Proxy Statement</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:9pt">
<TD VALIGN="top">&#9744;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">Definitive Additional Materials</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:9pt">
<TD VALIGN="top">&#9744;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">Soliciting Material Under Rule 14a-12</TD></TR></TABLE> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:19pt; font-family:Times New Roman" ALIGN="center"><B>BROADWAY FINANCIAL
CORPORATION </B></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:Times New Roman" ALIGN="center"><B>(Name of Registrant as Specified In Its Charter) </B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:Times New Roman" ALIGN="center"><B>COMMERCE HOME MORTGAGE, LLC </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:Times New Roman" ALIGN="center"><B>THE CAPITAL CORPS, LLC </B></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:Times New Roman" ALIGN="center"><B>TCC
MANAGER, LLC </B></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:Times New Roman" ALIGN="center"><B>SUGARMAN ENTERPRISES, INC. </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:Times New Roman" ALIGN="center"><B>STEVEN A. SUGARMAN </B></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:Times New Roman" ALIGN="center"><B>CARLOS
SALAS </B></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:Times New Roman" ALIGN="center"><B>ANTONIO VILLARAIGOSA </B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:8pt; font-family:Times New Roman" ALIGN="center"><B>(Name of Person(s) Filing Proxy Statement, if other than the Registrant) </B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:Times New Roman">Payment of Filing Fee (Check the appropriate box): </P>
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<TD WIDTH="4%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="90%"></TD></TR>
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<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:9pt">
<TD VALIGN="top">&#9746;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top" COLSPAN="3">No fee required.</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:9pt">
<TD VALIGN="top">&#9744;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top" COLSPAN="3">Fee computed on table below per Exchange Act Rules 14a-6(i)(1) and 0-11.</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:9pt">
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top">(1)</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:Times New Roman">Title of each class of securities to which transaction applies:</P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; border-bottom:1px solid #000000; font-size:9pt; font-family:Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</P></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:9pt">
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top">(2)</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:Times New Roman">Aggregate number of securities to which transaction applies:</P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; border-bottom:1px solid #000000; font-size:9pt; font-family:Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</P></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:9pt">
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top">(3)</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:Times New Roman">Per unit price or other underlying value of transaction computed pursuant to Exchange Act Rule <FONT STYLE="white-space:nowrap">0-11</FONT>
(set forth the amount on which the filing fee is calculated and state how it was determined):</P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; border-bottom:1px solid #000000; font-size:9pt; font-family:Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</P></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:9pt">
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top">(4)</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:Times New Roman">Proposed maximum aggregate value of transaction:</P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; border-bottom:1px solid #000000; font-size:9pt; font-family:Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</P></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:9pt">
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top">(5)</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:Times New Roman">Total fee paid:</P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; border-bottom:1px solid #000000; font-size:9pt; font-family:Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</P></TD></TR>
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<TD HEIGHT="8"></TD>
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<TD VALIGN="top">&#9744;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top" COLSPAN="3">Fee paid previously with preliminary materials.</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:9pt">
<TD VALIGN="top">&#9744;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top" COLSPAN="3">Check box if any part of the fee is offset as provided by Exchange Act Rule <FONT STYLE="white-space:nowrap">0-11(a)(2)</FONT> and identify the filing for which the offsetting fee was paid previously. Identify the
previous filing by registration statement number, or the Form or Schedule and the date of its filing.</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
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<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top">(1)</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:Times New Roman">Amount Previously Paid:</P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; border-bottom:1px solid #000000; font-size:9pt; font-family:Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</P></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:9pt">
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top">(2)</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:Times New Roman">Form, Schedule or Registration Statement No.:</P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; border-bottom:1px solid #000000; font-size:9pt; font-family:Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</P></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:9pt">
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top">(3)</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:Times New Roman">Filing Party:</P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; border-bottom:1px solid #000000; font-size:9pt; font-family:Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</P></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:9pt">
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top">(4)</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:Times New Roman">Date Filed:</P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; border-bottom:1px solid #000000; font-size:9pt; font-family:Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</P></TD></TR>
</TABLE> <P STYLE="font-size:8pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P> <P STYLE="line-height:1.0pt;margin-top:0pt;margin-bottom:0pt;border-bottom:1px solid #000000">&nbsp;</P>
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<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><FONT COLOR="#ff4338"><B>PRELIMINARY PROXY STATEMENT, SUBJECT TO COMPLETION </B></FONT></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><FONT COLOR="#ff4338"><B>DATED JUNE 9, 2020 </B></FONT></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>2020 ANNUAL MEETING OF STOCKHOLDERS </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>OF </B></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>BROADWAY FINANCIAL
CORPORATION </B></P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><center> <P STYLE="line-height:6.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1.00pt solid #000000;width:21%">&nbsp;</P></center>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>PROXY STATEMENT </B></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>OF
</B></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>COMMERCE HOME MORTGAGE, LLC </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>THE CAPITAL CORPS, LLC </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>TCC MANAGER, LLC </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>SUGARMAN ENTERPRISES, INC. </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>STEVEN A. SUGARMAN </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>CARLOS SALAS </B></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>ANTONIO
VILLARAIGOSA </B></P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">June [&nbsp;&nbsp;&nbsp;&nbsp;], 2020 </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">To
Our Fellow Broadway Financial Stockholders: </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">This Proxy Statement and the accompanying <B>GOLD</B> proxy card are being furnished to Stockholders (the
&#147;Stockholders&#148;) of Broadway Financial Corporation, 5055 Wilshire Boulevard, Suite 500, Los Angeles, California 90036 (&#147;Broadway Financial&#148; or the &#147;Company&#148;) in connection with the solicitation of proxies by Commerce
Home Mortgage, LLC and the other Participants (as hereinafter defined), to be used at the 2020 Annual Meeting (the &#147;Annual Meeting&#148;) of Stockholders of Broadway Financial, which is scheduled to be held on Wednesday, June&nbsp;24, 2020 as a
virtual meeting conducted through the Internet, and at any postponements or adjournments thereof. This Proxy Statement and the GOLD proxy card are first being furnished to Stockholders on or about [&nbsp;&nbsp;&nbsp;&nbsp;]. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">At the Annual Meeting, the Participants will seek your support for the following proposals: </P>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="3%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:Times New Roman; font-size:10pt">to vote <B>FOR</B> the election Antonio Villaraigosa as the Participants&#146; nominee (the &#147;Nominee&#148;)
to the Board of Directors (&#147;Board&#148;) of Broadway Financial; </P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="3%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:Times New Roman; font-size:10pt">to <B>WITHHOLD</B> your vote from Virgil Roberts and Daniel Medina as directors of Broadway Financial; and
</P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="3%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:Times New Roman; font-size:10pt">to vote on an advisory (non-binding) basis <B>AGAINST</B> the Company&#146;s proposal on executive compensation.
</P></TD></TR></TABLE> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Our GOLD proxy card will also allow you to vote on the following proposals that are being presented by the Company for Stockholder
consideration at the Annual Meeting: </P> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="3%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:Times New Roman; font-size:10pt">To ratify the appointment of Moss Adams LLP as the independent registered public accounting firm for Broadway
Financial for its fiscal year ending December&nbsp;31, 2020; and </P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="3%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:Times New Roman; font-size:10pt">To cast an advisory <FONT STYLE="white-space:nowrap">(non-binding)</FONT> vote as to whether the stockholder vote
required to approve the compensation of named executive officers should occur every 1, 2, or 3 years. </P></TD></TR></TABLE> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">We believe Broadway
Financial&#146;s Board would be enhanced by electing Antonio Villaraigosa to the Board. Mayor Villaraigosa is a proven public executive who presided as Mayor of the City of Los Angeles from 2005 to 2013, when he entered the private sector to work
with Banc of California Inc. and later The Capital Corps, LLC, providing strategic leadership. Mayor Villaraigosa has a proven track record of finding solutions for the Los Angeles community and working with financial services businesses to fulfill
this purpose. Mayor Villaraigosa has advised a highly successful bank in the execution of its growth and profitability initiatives in the same market as Broadway. He has also helped to launch and grow as its chairman a successful consumer lender
that itself is a CDFI, which over the past three years has grown originations from zero to an annual <FONT STYLE="white-space:nowrap">run-rate</FONT> of over $5&nbsp;billion. </P>
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Importantly, Mayor and now chairman Villaraigosa&#146;s work within the financial services industry has resulted in building highly profitable organizations driving substantial community impact.
</P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Moreover, Mayor Villaraigosa has a long-standing collaborative relationship with Broadway Financial&#146;s Board and management team (including, for
example, in addressing educational needs in Los Angeles&#146; minority and <FONT STYLE="white-space:nowrap">low-income</FONT> communities). We are confident he will be an influential and positive voice in helping to redirect Broadway Financial to
its community mission and increased profitability and growth. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Mayor Villaraigosa has consented to being named in this Proxy Statement and, if elected, to
serve as a director. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B><U>THE PARTICIPANTS URGE YOU TO VOTE THE GOLD PROXY CARD FOR MAYOR ANTONIO VILLARAIGOSA AS DIRECTOR.</U> </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">The Nominee and each of the other Participants have no interest in Broadway Financial other than through the beneficial ownership (if any) of shares of the
Company&#146;s voting common stock, par value $0.01 per share (the &#147;Voting Common Stock&#148;) or other securities (if any) of Broadway Financial, except as disclosed herein, including the Annexes hereto. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">MAYOR VILLARAIGOSA IS COMMITTED TO ACTING IN THE BEST INTEREST OF ALL STOCKHOLDERS OF BROADWAY FINANCIAL. THE PARTICIPANTS URGE YOU TO VOTE YOUR GOLD PROXY
CARD FOR MAYOR VILLARAIGOSA. </P> <P STYLE="margin-top:24pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">IMPORTANT </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">According to the Company Proxy Statement, its Bylaws, and applicable law, the election of the Nominee requires the affirmative vote of a plurality of the
votes cast by the holders of Broadway Financial&#146;s Voting Common Stock at a meeting at which a quorum is present in person or represented by proxy. As a result, your vote is extremely important. We urge you to mark, sign, date, and return the
enclosed GOLD proxy card to vote <B>FOR</B> the election of the Nominee. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">WE URGE YOU NOT TO SIGN ANY PROXY CARD SENT TO YOU BY BROADWAY FINANCIAL. IF YOU
HAVE ALREADY DONE SO, YOU MAY REVOKE YOUR PROXY BY DELIVERING A LATER-DATED GOLD PROXY CARD IN THE ENCLOSED POSTAGE-PREPAID ENVELOPE, EXECUTING A VOTE VIA INTERNET OR TELEPHONE, OR BY VOTING AT THE ANNUAL MEETING. SEE &#147;VOTING PROCEDURES&#148;
AND &#147;PROXY PROCEDURES&#148; BELOW. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>To facilitate timely receipt of your proxy despite any potential systems disruption due to coronavirus <FONT
STYLE="white-space:nowrap">(COVID-19),</FONT> we encourage you to vote by telephone or via the Internet following the instructions set forth on the enclosed GOLD proxy card TODAY. </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">If you participate in the Annual Meeting and you beneficially own shares of Voting Common Stock but are not the record owner, your mere attendance at the
Annual Meeting WILL NOT be sufficient to cancel your prior given proxy card. You must have written authority from the record owner to vote the shares of Voting Common Stock in its name at the meeting. Contact Mackenzie Partners, Inc. at the number
shown in this Proxy Statement for assistance or if you have any questions. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">If you have any questions or require any assistance in executing your proxy,
please call: </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>MACKENZIE PARTNERS, INC. </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">1407 Broadway </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">New York, New York
10018 </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">proxy@mackenziepartners.com </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">Call Collect: (212) <FONT STYLE="white-space:nowrap">929-5500</FONT> </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">Toll-Free: (800) <FONT STYLE="white-space:nowrap">322-2885</FONT> </P>
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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">THE PROXY STATEMENT, AS WELL AS OTHER PROXY MATERIALS DISTRIBUTED BY THE PARTICIPANTS, ARE AVAILABLE FREE OF
CHARGE ONLINE AT [<I></I>&#9679;<I></I><I></I>]. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Only holders of record of Broadway Financial&#146;s Voting Common Stock as of the close of business on
May&nbsp;1, 2020 (the &#147;Record Date&#148;) are entitled to a notice of, and to vote at the Annual Meeting or any postponement or adjournment thereof. Stockholders of record at the close of business on the Record Date will be entitled to one vote
at the Annual Meeting for each share of Voting Common Stock of Broadway Financial held on the Record Date. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">According to the Company&#146;s Proxy
Statement in respect of the Annual Meeting (the &#147;Company Proxy Statement&#148;), there were 19,282,571 shares of Voting Common Stock issued and outstanding as of the Record Date. As of the Record Date, the Participants and their affiliates
beneficially owned an aggregate of 1,846,154 shares of Voting Common Stock, which represented approximately 9.57% of the shares of Voting Common Stock issued and outstanding as of the Record Date. The Participants and their affiliates intend to vote
such shares of Voting Common Stock <B>FOR</B> the election of the Nominee, to <B>WITHHOLD</B> their votes from the Company&#146;s nominees for director, and to vote <B>AGAINST</B> the Company&#146;s proposal on executive compensation. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">VOTE FOR THE NOMINEE BY USING THE ENCLOSED GOLD PROXY TO VOTE TODAY &#150; BY TELEPHONE, BY INTERNET, OR BY MARKING, SIGNING, DATING AND RETURNING THE GOLD
PROXY CARD IN THE POSTAGE-PAID ENVELOPE PROVIDED TO YOU. </P> <P STYLE="margin-top:24pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">PARTICIPANTS IN SOLICITATION OF PROXIES </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">In addition to the Nominee, Mayor Villaraigosa, the participants in the solicitation of proxies (the &#147;Participants&#148;) from Stockholders of Broadway
Financial consist of the following: Commerce Home Mortgage, LLC (&#147;Commerce Home Mortgage&#148;), a California limited liability company; The Capital Corps, LLC (&#147;Capital&#148;), a California limited liability company; TCC Manager, LLC
(&#147;Manager&#148;), a California limited liability company; Sugarman Enterprises, Inc. (&#147;Enterprises&#148;), a California corporation; Steven A. Sugarman, a citizen of the United States; and Carlos Salas, a citizen of the United States. The
business address of each of the Participants is 16845 Von Karman Avenue, Suite #200, Irvine CA 92606. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Commerce Home Mortgage directly owns 1,846,154
shares of Voting Common Stock. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Capital directly owns no shares of common stock in the Company (&#147;Shares&#148;). However, as a result of being the
wholly-owning direct parent of Commerce Home Mortgage, Capital may be deemed to have shared voting power over and thus beneficial ownership of the 1,846,154 shares of Voting Common Stock owned by Commerce Home Mortgage pursuant to Rule <FONT
STYLE="white-space:nowrap">13d-3</FONT> (&#147;Rule <FONT STYLE="white-space:nowrap">13d-3&#148;)</FONT> under the Securities Exchange Act of 1934, as amended (the &#147;Exchange Act&#148;). </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Manager directly owns no Shares. However, as a result of being in control of Capital, which wholly owns Commerce Home Mortgage, Manager may be deemed to have
shared voting power over and thus beneficial ownership of the 1,846,154 shares of Voting Common Stock owned by Commerce Home Mortgage pursuant to Rule <FONT STYLE="white-space:nowrap">13d-3</FONT> under the Exchange Act. Pursuant to their internal
management structures, Manager retains express, full and exclusive control over the voting and disposition of the shares of Voting Common Stock owned by Commerce Home Mortgage, which control is exercised by and thus shared with Mr.&nbsp;Sugarman and
Enterprises. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Enterprises directly owns no Shares. However, as a result of being in control of Manager, which controls Capital, which wholly owns Commerce
Home Mortgage, Enterprises may be deemed to have shared voting power over and thus beneficial ownership of the 1,846,154 shares of Voting Common Stock owned by Commerce Home Mortgage pursuant to Rule <FONT STYLE="white-space:nowrap">13d-3</FONT>
under the Exchange Act. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Mr.&nbsp;Sugarman directly owns no Shares. However, as a result of wholly-owning Enterprises, which controls Manager, which
controls Capital, which wholly owns Commerce Home Mortgage, Mr.&nbsp;Sugarman may be deemed to have shared voting power over and thus beneficial ownership of the 1,846,154 shares of Voting Common Stock owned by Commerce Home Mortgage pursuant to
Rule <FONT STYLE="white-space:nowrap">13d-3</FONT> under the Exchange Act. </P>
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Mr.&nbsp;Sugarman has an indirect interest in a portion of the same 1,846,154 shares of Voting Common Stock already reported above by virtue of an indirect ownership in Capital. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Neither Mr.&nbsp;Salas nor Mr.&nbsp;Villaraigosa own beneficially or of record any securities of Broadway Financial. Mr.&nbsp;Villaraigosa, by virtue of his
relationship with Capital, may be deemed the beneficial owner of the 1,846,154 shares of Voting Common Stock owned by Commerce Home Mortgage. Each of the participants named herein disclaims beneficial ownership of any Shares, except to the extent of
his, her or its pecuniary interest therein. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Annex A attached hereto sets forth, as to the Nominee and the other Participants, all transactions in
securities of Broadway Financial effected during the past two years and their beneficial ownership of securities of Broadway Financial. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">With respect to
each Participant (including the Nominee), except as set forth herein or in any of the Annexes attached hereto, (i)&nbsp;such Participant is not, nor was within the past year, a party to any contract, arrangement or understanding with any person with
respect to any securities of Broadway Financial, including, but not limited to, joint ventures, loan or option arrangements, puts or calls, guarantees against loss or guarantees of profit, division of losses or profits, or the giving or withholding
of proxies; (ii)&nbsp;neither such Participant nor any of such Participant&#146;s associates have any arrangement or understanding with any person with respect to (A)&nbsp;any future employment by Broadway Financial or its affiliates or (B)&nbsp;any
future transactions to which Broadway Financial or any of its affiliates will or may be a party; and (iii)&nbsp;neither such Participant nor any of such Participant&#146;s associates have a direct or indirect material interest in any transaction or
series of similar transactions since the beginning of Commerce Home Mortgage&#146;s last fiscal year or any currently proposed transactions or series of similar transactions to which Broadway Financial or any of its subsidiaries was or is to be a
party in which the amount involved exceeds $120,000. No Participant has been convicted in a criminal proceeding (excluding traffic violations and similar misdemeanors) during the past ten years. </P>
<P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Proposal #1 &#150; Vote FOR the election of Antonio Villaraigosa to the Board </B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Pursuant to Section&nbsp;3.4 of the Company&#146;s Bylaws, nominations for director may be made by any stockholder of record entitled to vote at an annual
meeting, if such nomination is submitted not less than 60 and not more than 90 days in advance of the date of the previous year&#146;s annual meeting. Since the Company&#146;s 2019 annual meeting was held on June&nbsp;26, 2019, nominations were
timely if submitted by Saturday, April&nbsp;27, 2020. On April&nbsp;8, 2020, Commerce Home Mortgage, a record holder of Voting Common Stock, delivery timely notice in accordance with the foregoing, notifying the Company of its nomination of Antonio
Villaraigosa and its intend to seek his election at the Annual Meeting. Mayor Villaraigosa, if elected, would serve a three-year term and hold office until the Company&#146;s 2023 annual meeting or until a successor has been duly elected and
qualified. Background information on Mayor Villaraigosa is set forth below. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">If elected, our Nominee will be a minority of the directors and will not
alone be able to adopt resolutions. However, we believe our Nominee will be able to actively engage other Board members in full discussion of the issues facing the Company and resolve them together. By utilizing his experience and working
constructively with the other Board members, we believe our Nominee will be able to bring about positive change at the Company. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Commerce Home Mortgage
has an interest in the election of directors at the Annual Meeting indirectly through the beneficial ownership of Voting Common Stock, as described above. The Nominee will not receive any compensation from any of the Participants or any of their
affiliates in connection with this proxy solicitation. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">The Nominee would not be barred from being considered independent under the independence
requirements of The Nasdaq Stock Market LLC or the independence standards applicable to the Company under paragraph (a)(1) of Item 407 of Regulation <FONT STYLE="white-space:nowrap">S-K</FONT> under the Securities Exchange Act of 1934, as amended.
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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">ANTONIO VILLARAIGOSA, age 67 </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Mayor Villaraigosa is a proven public executive who presided as Mayor of the City of Los Angeles from 2005 to 2013, when he entered the private sector to work
with Banc of California Inc. and later The Capital Corps, LLC, providing strategic leadership. Mayor Villaraigosa has a proven track record of finding solutions for the Los Angeles community and working with financial services businesses to fulfill
this purpose. Mayor Villaraigosa has advised a highly successful bank in the execution of its growth and profitability initiatives in the same market as Broadway. He has also helped to launch and grow as its chairman a successful consumer lender
that itself is a CDFI, which over the past three years has grown originations from zero to an annual <FONT STYLE="white-space:nowrap">run-rate</FONT> of over $5&nbsp;billion. Importantly, Mayor and now chairman Villaraigosa&#146;s work within the
financial services industry has resulted in building highly profitable organizations driving substantial community impact. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Moreover, Mayor Villaraigosa
has a long-standing collaborative relationship with the Company&#146;s Board and management team (including, for example, in addressing educational needs in Los Angeles&#146; minority and <FONT STYLE="white-space:nowrap">low-income</FONT>
communities). We are confident he will be an influential and positive voice in helping to redirect Broadway Financial to its community mission and increased profitability and growth. </P>
<P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Proposal #2 &#150; WITHHOLD your vote from Virgil Roberts and Daniel Medina </B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">The Company has nominated Virgil Roberts and Daniel Medina to be elected to the Board. If elected, each would serve a three-year term and hold office until the
Company&#146;s 2023 annual meeting or until a successor has been duly elected and qualified. We are soliciting Stockholders to <B>WITHHOLD</B> their votes from Messrs. Roberts and Medina. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">One of the leading proxy advisory services, Institutional Shareholder Services Inc. (&#147;ISS&#148;) has recommended that Stockholders <B>WITHHOLD</B> their
vote from the Company&#146;s nominees, Messrs. Roberts and Medina. ISS advised that &#147;[i]f a company adopts&#133; a long-term poison pill without shareholder approval, adverse votes are generally recommended for all director nominees each year
as long as the company maintains a <FONT STYLE="white-space:nowrap">non-shareholder</FONT> approved long-term poison pill.&#148; Broadway Financial adopted such a plan in September 2019, without shareholder consent. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">The Participants intend to, and recommend that you, <B>WITHHOLD</B> your vote from the Company&#146;s nominees, Messrs. Roberts and Medina. <B>WITHHOLDING</B>
your vote from Messrs. Roberts and Medina will send a strong message to the Board that the Company&#146;s current direction is untenable. Stockholders wishing to express their disappointment with longstanding and ineffective Board members, Messrs.
Roberts and Medina, and the Company&#146;s adoption of an anti-takeover defense provision without shareholder consent, should be sure to <B>WITHHOLD </B>their vote from the Company&#146;s two nominees, in line with the ISS recommendation. </P>
<P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Proposal #3 &#150; Advisory (Non-Binding) Vote AGAINST the Company&#146;s Executive Compensation Proposal </B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">According to the Company Proxy Statement, the Company will solicit proxies with respect to a proposal for Stockholders to approve, on an advisory (non-binding)
basis, the compensation of the Company&#146;s Named Executive Officers as disclosed in the Company Proxy Statement pursuant to the compensation disclosure rules of the SEC. Please refer to the Company Proxy Statement for a discussion of such
proposal. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">The Participants intend to vote, and recommend that you vote, <B>AGAINST</B> this proposal. ISS noted that its screen yielded &#147;a high
concern level, indicating a misalignment between CEO pay and company performance&#148; and that the Company had a lack of risk mitigants. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">A vote
<B>AGAINST</B> the Company&#146;s executive compensation proposal will send a strong message to the Company that its compensation policies must be more closely aligned with the Company&#146;s performance. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">WE STRONGLY URGE YOU TO VOTE <B>FOR</B> THE ELECTION OF ANTONIO VILLARAIGOSA, <B>WITHHOLD</B> YOUR VOTE FROM THE COMPANY&#146;S NOMINEES, VIRGIL ROBERTS AND
DANIEL MEDINA, AND VOTE <B>AGAINST</B> THE COMPANY&#146;S EXECUTIVE COMPENSATION PROPOSAL BY MARKING, SIGNING, DATING AND RETURNING THE ENCLOSED GOLD PROXY CARD IN THE POSTAGE PAID ENVELOPE PROVIDED TO YOU WITH THIS PROXY STATEMENT OR BY USING THE
GOLD PROXY CARD TO VOTE BY TELEPHONE OR INTERNET. IF YOU HAVE SIGNED THE GOLD PROXY CARD AND NO MARKING IS MADE, YOU WILL BE DEEMED TO HAVE GIVEN A DIRECTION TO VOTE ALL THE SHARES OF VOTING COMMON STOCK REPRESENTED BY THE
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GOLD PROXY CARD <B>FOR</B> THE ELECTION ANTONIO VILLARAIGOSA, <B>WITHHOLDING</B> YOUR VOTE FROM VIRGIL ROBERTS AND DANIEL MEDINA, AND VOTING <B>AGAINST</B> THE COMPANY&#146;S EXECUTIVE
COMPENSATION PROPOSAL. </P> <P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Other Matters to be Considered at the Annual Meeting </B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">According to the Company Proxy Statement, Broadway Financial is also soliciting proxies with respect to two other proposals. Please refer to the Company Proxy
Statement for a detailed discussion of these proposals, including various arguments in favor of and against such proposals. These proposals are outlined below. IF YOU HAVE SIGNED THE <B>GOLD</B> PROXY CARD AND NO MARKING IS MADE, YOU WILL BE DEEMED
TO HAVE GIVEN A DIRECTION TO VOTE ALL OF THE SHARES OF VOTING COMMON STOCK REPRESENTED BY YOUR <B>GOLD </B>PROXY CARD IN FAVOR OF PROPOSAL 4, AND FOR 1 YEAR, ON PROPOSAL 5. </P>
<P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Proposal #4 &#150; Ratification of Appointment of Independent Registered Public Accounting Firm </B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">According to the Company Proxy Statement, the Company will solicit proxies with respect to a proposal for Stockholders to ratify the selection of Moss Adams
LLP to audit the financial statement of the Company for the fiscal year ending December&nbsp;31, 2020. Please refer to the Company Proxy Statement for a discussion of such proposal. The Participants intend to vote, and recommend that you vote, FOR
this proposal. </P> <P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Proposal #5 &#150; Advisory <FONT STYLE="white-space:nowrap">(Non-Binding)</FONT> Vote on Frequency of Advisory Vote on Executive
Compensation </B></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">According to the Company Proxy Statement, the Company will also solicit proxies with respect to a vote providing Stockholders with the
opportunity to cast an advisory vote on whether the advisory vote on executive compensation should be held &#150; every one, two, or three years
<FONT STYLE="white-space:nowrap"><FONT STYLE="white-space:nowrap"><FONT STYLE="white-space:nowrap">(say-when-on-pay).</FONT></FONT></FONT> Please refer to the Company Proxy Statement for a discussion of such proposal. The Participants intend to
vote, and recommend that you vote for &#147;1 YEAR&#148; as the frequency for future advisory votes on executive compensation arrangements. </P> <P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Other
Proposals </B></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">The Participants and their affiliates know of no other business to be presented at the Annual Meeting. If any other matters should properly
come before the Annual Meeting, it is intended that the persons named on the enclosed GOLD proxy card will vote that proxy on such other matters in accordance with their judgment. </P>
<P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Voting Procedures </B></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">According to the Company Proxy
Statement, the Company&#146;s Bylaws and applicable law, holders of shares of Broadway Financial&#146;s Voting Common Stock, at the close of business on the Record Date are entitled to notice of, and to vote at, the Annual Meeting. Each share of
Voting Common Stock outstanding on the Record Date is entitled to one vote on each matter presented at the Annual Meeting. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">According to the Company Proxy
Statement, the Company&#146;s Bylaws and applicable law, a plurality of votes cast by holders of shares of Voting Common Stock will be required for the election of directors. Plurality means that the individuals who receive the largest number of
votes cast are elected as directors, up to the maximum number of directors to be chosen at the meeting. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Consequently, any shares of Voting Common Stock
not voted (whether by abstention, broker <FONT STYLE="white-space:nowrap">non-vote</FONT> or otherwise) have no impact in the election of directors. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">A
quorum must be present, in person or by proxy, in order for the Company to hold the Annual Meeting. A quorum is the presence by person or by proxy of a majority of the shares of Voting Common Stock issued and outstanding and entitled to vote at the
Annual Meeting. The shares of Voting Common Stock represented by a proxy marked &#147;withhold&#148; or &#147;abstain&#148; and broker <FONT STYLE="white-space:nowrap">non-votes</FONT> (as described below) will be considered present at the Annual
Meeting for purposes of determining a quorum. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">If you hold your shares of Voting Common Stock through a bank, broker or other nominee and do not provide
voting instructions to the record holder of the shares of Voting Common Stock, your shares of Voting Common </P>
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Stock will not be voted on any proposal on which your broker or nominee does not have discretionary authority to vote. In this case, a &#147;broker
<FONT STYLE="white-space:nowrap">non-vote&#148;</FONT> occurs. Shares of Voting Common Stock constituting broker <FONT STYLE="white-space:nowrap">non-votes</FONT> are not counted or deemed to be present or represented for the purpose of determining
whether Stockholders have approved a matter, but they are counted as present for the purpose of determining a quorum at the Annual Meeting. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">The election
of directors at the Annual Meeting is a <FONT STYLE="white-space:nowrap">&#147;non-routine</FONT> matter&#148; and brokers do not have discretionary authority to vote your shares of Voting Common Stock on
<FONT STYLE="white-space:nowrap">&#147;non-routine</FONT> matters.&#148; Therefore, unless you provide specific voting instructions to your broker, your broker will not have discretionary authority to vote your shares of Voting Common Stock for the
election of directors at the Annual Meeting and your shares of Voting Common Stock will not be voted for the election of directors. If your shares of Voting Common Stock are held in street name, your broker or nominee has enclosed a voting
instruction card with this Proxy Statement. We strongly encourage you to vote your shares of Voting Common Stock by following the instructions provided on the voting instruction card. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">According to the Company Proxy Statement, the Company&#146;s Bylaws and applicable law, the Stockholder vote on Proposals 3 (Advisory (Non-Binding) Vote to
Approve Executive Compensation), 4 (Ratification of Appointment of Independent Registered Public Accounting Firm), and 5 (Advisory <FONT STYLE="white-space:nowrap">(Non-Binding)</FONT> Vote on Frequency of Advisory Vote on Executive Compensation)
require the affirmative vote of a majority of the shares of Voting Common Stock voting on the matter. Accordingly, abstentions and broker <FONT STYLE="white-space:nowrap">non-votes</FONT> will not have any effect in the voting on these proposals.
</P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">As explained in the detailed instructions on your GOLD proxy card, there are four ways you may vote. You may: </P>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="4%" VALIGN="top" ALIGN="left">1.</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman; " ALIGN="left">Sign, date and return the enclosed GOLD proxy card in the enclosed postage-paid envelope. We recommend that you
vote on the GOLD proxy card even if you plan to attend the Annual Meeting, which will be held online live via webcast; </P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="4%" VALIGN="top" ALIGN="left">2.</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman; " ALIGN="left">Vote via the Internet by following the voting instructions on the GOLD proxy card or the voting instructions
provided by your broker, bank or other holder of record. </P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="4%" VALIGN="top" ALIGN="left">3.</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman; " ALIGN="left">Vote by telephone by following the voting instructions on the GOLD proxy card or the instructions provided by
your broker, bank or other holder of record; or </P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="4%" VALIGN="top" ALIGN="left">4.</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman; " ALIGN="left">Vote in person by attending the Annual Meeting which will be held online live via webcast. If you hold your
shares of Voting Common Stock through a bank, broker or other custodian, you must obtain a legal proxy from such custodian in order to vote in person at the meeting. </P></TD></TR></TABLE>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">To submit a proxy with voting instructions by telephone please call the telephone number listed on the GOLD proxy card. Proxies may also be submitted over the
Internet. Please refer to the GOLD proxy card for the website information. In each case, Stockholders will be required to provide the unique control number which has been printed on each Stockholder&#146;s GOLD proxy card. In addition to the
instructions that appear on the GOLD proxy card, <FONT STYLE="white-space:nowrap"><FONT STYLE="white-space:nowrap">step-by-step</FONT></FONT> instructions will be provided by a recorded telephone message for those Stockholders submitting proxies by
telephone, or at the designated website for those Stockholders submitting proxies over the Internet. Stockholders submitting their proxies with voting instructions by telephone or over the Internet will receive confirmation on the telephone that
their vote by telephone was successfully submitted, and may provide an email address for confirmation that their vote by Internet was successfully submitted. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Whether or not you are able to attend the Annual Meeting, you are urged to complete the enclosed GOLD proxy and return it in the enclosed self-addressed,
prepaid envelope. All valid proxies received prior to the meeting will be voted. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">If you specify a choice with respect to any item by marking the
appropriate box on the proxy, the shares of Voting Common Stock will be voted in accordance with that specification. IF NO SPECIFICATION IS MADE, THE SHARES OF VOTING COMMON STOCK WILL BE VOTED (I) &#147;FOR&#148; ANTONIO VILLARAIGOSA FOR DIRECTOR;
(II)&nbsp;AS A &#147;WITHHOLD&#148; FROM MESSRS. ROBERTS AND MEDINA FOR DIRECTOR; (III) &#147;FOR&#148; THE ADVISORY <FONT STYLE="white-space:nowrap">(NON-BINDING)</FONT> VOTE TO APPROVE EXECUTIVE COMPENSATION; (IV) &#147;FOR&#148; THE RATIFICATION
OF THE APPOINTMENT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM; (V)&nbsp;FOR &#147;1 YEAR&#148; ON THE ADVISORY <FONT STYLE="white-space:nowrap">(NON-BINDING)</FONT> VOTE ON FREQUENCY </P>
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OF ADVISORY VOTE ON EXECUTIVE COMPENSATION; AND (VI)&nbsp;IN THE PROXY HOLDER&#146;S DISCRETION AS TO OTHER MATTERS THAT MAY PROPERLY COME BEFORE THE ANNUAL MEETING. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">If you have any questions or require any assistance in executing your proxy, please call: </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>MACKENZIE PARTNERS, INC. </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">1407 Broadway </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">New York, New York
10018 </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">proxy@mackenziepartners.com </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">Call Collect: (212) <FONT STYLE="white-space:nowrap">929-5500</FONT> </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">Toll-Free: (800) <FONT STYLE="white-space:nowrap">322-2885</FONT> </P>
<P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">PROXY PROCEDURES </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">IN ORDER FOR YOUR VIEWS TO BE REPRESENTED AT
THE ANNUAL MEETING, PLEASE MARK, SIGN, DATE AND RETURN THE ENCLOSED GOLD PROXY CARD IN THE ENCLOSED POSTAGE-PREPAID ENVELOPE OR USE THE GOLD PROXY CARD TO VOTE BY TELEPHONE OR INTERNET. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">The accompanying GOLD proxy card will be voted at the Annual Meeting in accordance with your instructions on such card. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Only holders of record as of the close of business on the Record Date will be entitled to vote. If you were a Stockholder of record on the Record Date, you
will retain your voting rights at the Annual Meeting even if you sell such shares of Voting Common Stock after the Record Date. Accordingly, it is important that you vote the shares of Voting Common Stock held by you on the Record Date, or grant a
proxy to vote such shares of Voting Common Stock on the GOLD proxy card, even if you sell such shares of Voting Common Stock after the Record Date. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">IF
YOUR SHARES OF VOTING COMMON STOCK ARE HELD IN THE NAME OF A BROKERAGE FIRM, BANK, BANK NOMINEE OR OTHER INSTITUTION ON THE RECORD DATE, ONLY IT CAN VOTE SUCH SHARES OF VOTING COMMON STOCK AND ONLY UPON RECEIPT OF YOUR SPECIFIC INSTRUCTIONS. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">ACCORDINGLY, PLEASE CONTACT THE PERSON RESPONSIBLE FOR YOUR ACCOUNT AND INSTRUCT THAT PERSON TO EXECUTE ON YOUR BEHALF THE GOLD PROXY CARD AS SOON AS
POSSIBLE. </P> <P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">REVOCATION OF PROXIES </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Any Stockholder of record
may revoke or change his or her proxy instructions at any time prior to the vote at the Annual Meeting by: </P> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="1%">&nbsp;</TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:Times New Roman; font-size:10pt">submitting a properly executed, subsequently dated GOLD proxy card that will revoke all prior proxy cards,
including any white proxy cards which you may have submitted to Broadway Financial; </P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="1%">&nbsp;</TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:Times New Roman; font-size:10pt">instructing Participants by telephone or via the Internet as to how you would like your shares of Voting Common
Stock voted (instructions are on your GOLD proxy card); </P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="1%">&nbsp;</TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:Times New Roman; font-size:10pt">attending the Annual Meeting which will be held online live via webcast, and withdrawing his or her proxy by
voting in person (although attendance at the Annual Meeting will not in and of itself constitute revocation of a proxy); or </P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="1%">&nbsp;</TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:Times New Roman; font-size:10pt">delivering written notice of revocation either to the Participants c/o Mackenzie Partners, Inc.,
1407&nbsp;Broadway, New York, New York 10018, or the Corporate Secretary of Broadway Financial. </P></TD></TR></TABLE>
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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Although a revocation is effective if delivered to Broadway Financial, the Participants request that either
the original or a copy of any revocation be mailed to them, c/o Mackenzie Partners, Inc., 1407 Broadway, New York, New York 10018, so that the Participants will be aware of all revocations. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">IF YOU PREVIOUSLY SIGNED AND RETURNED A WHITE PROXY CARD TO BROADWAY FINANCIAL, WE URGE YOU TO REVOKE IT BY (1)&nbsp;MARKING, SIGNING, DATING AND RETURNING
THE GOLD PROXY CARD, (2)&nbsp;INSTRUCTING US BY TELEPHONE OR VIA THE INTERNET AS TO HOW YOU WOULD LIKE YOUR SHARES OF VOTING COMMON STOCK VOTED WITH RESPECT TO THE GOLD PROXY CARD, (3)&nbsp;ATTENDING THE ANNUAL MEETING (WHICH WILL BE HELD ONLINE
LIVE VIA WEBCAST) AND VOTING IN PERSON OR (4)&nbsp;DELIVERING A WRITTEN NOTICE OF REVOCATION TO THE PARTICIPANTS OR TO THE CORPORATE SECRETARY OF THE COMPANY. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>To facilitate timely receipt of your proxy despite any potential systems disruption due to coronavirus <FONT STYLE="white-space:nowrap">(COVID-19),</FONT>
we encourage you to vote by telephone or via the Internet following the instructions set forth on the enclosed GOLD proxy card TODAY. </B></P> <P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">COST AND METHOD
OF SOLICITATION </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Commerce Home Mortgage has retained Mackenzie Partners, Inc. (the &#147;Proxy Solicitor&#148;) to conduct the solicitation, for which the
Proxy Solicitor is to receive a fee of up to $50,000, plus expenses. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Commerce Home Mortgage has agreed to indemnify the Proxy Solicitor against certain
liabilities and expenses, including certain liabilities under the federal securities laws. Insofar as indemnification for liabilities arising under the federal securities laws may be permitted to the Proxy Solicitor pursuant to the foregoing
provisions, we have been informed that in the opinion of the SEC, such indemnification is against public policy and is therefore unenforceable. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Proxies
may be solicited by mail, courier services, Internet, advertising, telephone or telecopier or in person. It is anticipated that the Proxy Solicitor will employ up to 15 persons to solicit proxies from Broadway Financial Stockholders for the Annual
Meeting. The total expenditures in furtherance of, or in connection with, the solicitation of proxies is approximately [&#9679;] to date, and is estimated to be [&#9679;] in total. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">The Participants will pay all costs associated with this solicitation. The Participants do not intend to seek reimbursement for the costs and expenses
associated with the proxy solicitation in the event that the Nominee is elected to the Board of Directors of Broadway Financial. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">The Participants will
pay all costs associated with this solicitation. The Participants do not intend to seek reimbursement for the costs and expenses associated with the proxy solicitation in the event that the Nominee is elected to the Board of Directors of Broadway
Financial. </P> <P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">ADDITIONAL INFORMATION </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Certain information
regarding the securities of Broadway Financial held by Broadway Financial&#146;s directors, management and 5% Stockholders is contained in the Company Proxy Statement. Information concerning the date by which proposals of security holders intended
to be presented at the next annual meeting of Stockholders of Broadway Financial must be received by Broadway Financial for inclusion in the Company Proxy Statement and form of proxy for that meeting is also contained in the Company Proxy Statement.
This information is expected to be contained in Broadway Financial&#146;s public filings. The Participants take no responsibility for the accuracy or completeness of such information contained in Broadway Financial&#146;s public filings. </P>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">June [&nbsp;&nbsp;&nbsp;&nbsp;], 2020</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="3">Commerce Home Mortgage, LLC</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="3">The Capital Corps, LLC</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="3">TCC Manager, LLC</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="3">Sugarman Enterprises, Inc.</TD></TR>
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<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
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<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="3">Steven A. Sugarman</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="3">Carlos Salas</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="3">Antonio Villaraigosa</TD></TR>
</TABLE>
</DIV></Center>


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<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">Annex A </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">Two Year Summary Table: </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">The following table
indicates the date of each purchase and sale of shares of Voting Common Stock, as well as the exercise of call options, by the Participants within the past two years, and the number of shares in each such purchase and sale. </P>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:8pt" ALIGN="center">


<TR>

<TD WIDTH="36%"></TD>

<TD VALIGN="bottom" WIDTH="22%"></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="22%"></TD>
<TD></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:8pt">
<TD VALIGN="bottom" NOWRAP> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; border-bottom:1.00pt solid #000000; display:table-cell; font-size:8pt; font-family:Times New Roman; "><B>Name</B></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="border-bottom:1.00pt solid #000000"><B>Date</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"><B>Shares Purchased/Call Options Exercised</B></TD></TR>


<TR BGCOLOR="#cceeff" STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Commerce Home Mortgage</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">May&nbsp;1,&nbsp;2019</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">1,846,154</TD></TR>
</TABLE>
</DIV></Center>


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<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>PLEASE VOTE TODAY! </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>SEE REVERSE SIDE </B></P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>FOR
THREE EASY WAYS TO VOTE. </B></P> <P STYLE="margin-top:72pt; margin-bottom:0pt; font-size:8pt; font-family:Times New Roman" ALIGN="center">TO VOTE BY MAIL, PLEASE DETACH PROXY CARD HERE, AND SIGN, DATE AND RETURN IN THE POSTAGE-PAID ENVELOPE
PROVIDED </P> <P STYLE="line-height:3.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1px solid #000000">&nbsp;</P> <P STYLE="margin-top:36pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>BROADWAY FINANCIAL
CORPORATION </B></P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>2020 ANNUAL MEETING OF STOCKHOLDERS </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>THIS PROXY IS SOLICITED BY COMMERCE HOME MORTGAGE, LLC, THE CAPITAL CORPS, LLC, TCC MANAGER, LLC, SUGARMAN ENTERPRISES, INC., STEVEN A
SUGARMAN, CARLOS SALAS AND ANTONIO VILLARAIGOSA (COLLECTIVELY, THE &#147;PARTICIPANTS&#148;) </B></P> <P STYLE="font-size:24pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" ALIGN="center">


<TR>

<TD WIDTH="4%"></TD>

<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD WIDTH="95%"></TD></TR>


<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:9pt">
<TD VALIGN="top"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>G</B></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>O</B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>L</B></P> <P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:10pt; font-family:Times New Roman"><B>D</B></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">The undersigned, revoking all proxies previously given, hereby appoints and constitutes [&#9679;] and [&#9679;], or any of them, as attorneys and proxies, with full power of substitution and resubstitution, to represent the
undersigned at the Annual Meeting of Stockholders of Broadway Financial Corporation (&#147;Broadway Financial&#148;) to be held on Wednesday, June&nbsp;24, 2020 at 2:00 p.m., local time as a virtual meeting conducted solely as a live webcast through
the Internet, and at any adjournments or postponements thereof, to vote all shares of voting common stock of Broadway Financial held or owned by the undersigned as directed below, and in their discretion upon such other matters as may come before
the meeting.</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:9pt">
<TD VALIGN="top"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>P</B></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>R</B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>O</B></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>X</B></P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:10pt; font-family:Times New Roman"><B>Y</B></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">Upon proper execution of this proxy, all shares of voting common stock of Broadway Financial held or owned by the undersigned will be voted in the manner directed herein by the undersigned stockholder. <B>IF NO DIRECTION IS MADE
WITH RESPECT TO THE ELECTION OF A DIRECTOR OR A PROPOSAL, ALL SUCH SHARES WILL BE VOTED AS FOLLOWS WITH RESPECT TO ANY SUCH DIRECTOR OR PROPOSAL: (I) &#147;FOR&#148; ANTONIO VILLARAIGOSA, (II) &#147;WITHHELD&#148; FROM MESSRS. ROBERTS AND MEDINA,
(III) &#147;AGAINST&#148; THE COMPANY&#146;S PROPOSAL ON EXECUTIVE COMPENSATION, (IV) &#147;FOR&#148; PROPOSAL&nbsp;4, AND (V) FOR &#147;1 YEAR&#148; FOR PROPOSAL 5.</B></TD></TR>
</TABLE> <P STYLE="margin-top:24pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>YOUR VOTE IS VERY IMPORTANT &#150; PLEASE SUBMIT YOUR PROXY TODAY </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:9pt; font-family:Times New Roman" ALIGN="center">(CONTINUED AND TO BE SIGNED AND DATED ON THE REVERSE SIDE.) </P>
</DIV></Center>


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<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>YOUR VOTE IS IMPORTANT </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">Please take a moment now to vote your shares of Broadway Financial Corporation </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">Voting Common Stock for the upcoming 2020 Annual Meeting of Stockholders. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>PLEASE REVIEW THE PROXY STATEMENT AND VOTE TODAY IN ONE OF THREE WAYS: </B></P>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="4%" VALIGN="top" ALIGN="left"><B>1.</B></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman; " ALIGN="left"><B>Vote by Telephone&#151;</B>Please call toll-free in the U.S or Canada at (800) <FONT
STYLE="white-space:nowrap">322-2885,</FONT><B> </B>on a touch-tone phone. If outside the U.S. or Canada, call collect at (212) <FONT STYLE="white-space:nowrap">929-5500</FONT><B>. </B>Please follow the simple instructions. You will be required to
provide the unique control number printed below. </P></TD></TR></TABLE> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>OR </B></P>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="4%" VALIGN="top" ALIGN="left"><B>2.</B></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman; " ALIGN="left"><B>Vote by Internet</B>&#151;Please access <B>https://[</B>&#9679;], and follow the simple instructions. Please
note you must type an &#147;s&#148; after http. You will be required to provide the unique control number printed below. </P></TD></TR></TABLE> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><center>
<P STYLE="line-height:6.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:2.00pt solid #000000;width:21%">&nbsp;</P></center> <P STYLE="font-size:60pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><center>
<P STYLE="line-height:6.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:2.00pt solid #000000;width:21%">&nbsp;</P></center>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><div style="max-width:100%;margin-left:0%; margin-right:0%;border:solid 1px;background-color:;;padding-top:2pt;padding-bottom:3pt">
<P STYLE="margin-top:0pt; margin-bottom:0pt; padding-top:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">You may vote by telephone or Internet 24 hours a day, 7 days a week. Your telephone or Internet vote authorizes the named
proxies to vote your shares in the same manner as if you had marked, signed and returned a proxy card. </P></div> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>OR </B></P>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="4%" VALIGN="top" ALIGN="left"><B>3.</B></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman; " ALIGN="left"><B>Vote by Mail&#151;</B>If you do not wish to vote by telephone or over the Internet, please complete, sign,
date and&nbsp;return the proxy card in the envelope provided, or mail to Mackenzie Partners, Inc., 1407 Broadway, New&nbsp;York, New York 10018. <B>To facilitate the timely receipt of your proxy despite any potential systems disruption due to <FONT
STYLE="white-space:nowrap">COVID-19,</FONT> we encourage you to vote by telephone or internet today.</B> </P></TD></TR></TABLE> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:8pt; font-family:Times New Roman" ALIGN="center">TO VOTE BY MAIL,
PLEASE DETACH PROXY CARD HERE, AND SIGN, DATE AND RETURN IN THE POSTAGE-PAID ENVELOPE PROVIDED </P> <P STYLE="line-height:3.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1px solid #000000">&nbsp;</P>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TR>

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<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="21%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="21%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="5%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="1%"></TD></TR>


<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"><B></B>&#9746;<B></B><B></B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Please mark your</B></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>vote as in
this</B></P> <P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:10pt; font-family:Times New Roman"><B>example</B></P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom" STYLE=" BORDER-TOP:2.00pt solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="top" STYLE="BORDER-TOP:2.00pt solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:2.00pt solid #000000; BORDER-TOP:2.00pt solid #000000">&nbsp;</TD>
<TD VALIGN="top" STYLE="BORDER-TOP:2.00pt solid #000000">&nbsp;</TD></TR>
</TABLE>
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<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>COMMERCE HOME MORTGAGE AND THE OTHER PARTICIPANTS RECOMMEND YOU VOTE (I) <U>FOR</U>
ANTONIO VILLARAIGOSA, (II) <U>WITHHOLD</U> FROM MESSRS. ROBERTS AND MEDINA, (III) AGAINST THE COMPANY&#146;S EXECUTIVE COMPENSATION PROPOSAL, (IV) <U>FOR</U> PROPOSAL 4, AND (V) FOR &#147;<U>1 YEAR</U>&#148; FOR PROPOSAL 5. </B></P>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD></TD>

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<TD></TD>

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<TD></TD>

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<TD></TD></TR>


<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:8pt">
<TD VALIGN="top"><FONT STYLE="font-size:9pt">PROPOSAL 1: To vote FOR the Participants&#146; nominee, Antonio Villaraigosa</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top" ALIGN="center"><B>FOR&nbsp;ANTONIO<BR>VILLARAIGOSA</B> <P STYLE="margin-bottom:1pt; margin-top:0pt; font-size:8pt; font-family:Times New Roman" ALIGN="center"><B></B>&#9744;<B></B><B></B></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top" ALIGN="center"><B>WITHHOLD&nbsp;FROM<BR>ANTONIO<BR>VILLARAIGOSA</B> <P STYLE="margin-bottom:1pt; margin-top:0pt; font-size:8pt; font-family:Times New Roman" ALIGN="center"><B></B>&#9744;<B></B><B></B></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:8pt">
<TD VALIGN="top"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:Times New Roman">PROPOSAL 2: To WITHHOLD your vote from the Company&#146;s nominees, (1) Virgil Roberts and</P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:9pt; font-family:Times New Roman">(2) Daniel Medina</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top" ALIGN="center"><B>WITHHOLD&nbsp;FROM<BR>ALL&nbsp;COMPANY<BR>NOMINEES</B> <P STYLE="margin-bottom:1pt; margin-top:0pt; font-size:8pt; font-family:Times New Roman" ALIGN="center"><B></B>&#9744;<B></B><B></B></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top" COLSPAN="3" STYLE="border-bottom:1.00pt solid #000000" ALIGN="center"><B>WITHHOLD FROM ALL COMPANY NOMINEES EXCEPT THE NOMINEE LISTED BELOW: </B>
<P STYLE="font-size:12pt; margin-top:0pt; margin-bottom:1pt" align="left">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:8pt">
<TD VALIGN="top"><FONT STYLE="font-size:9pt">PROPOSAL 3: To cast an advisory (non-binding) vote AGAINST Broadway Financial&#146;s executive compensation proposal</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top" ALIGN="center"><B>AGAINST</B><BR> <P STYLE="margin-bottom:1pt; margin-top:0pt; font-size:8pt; font-family:Times New Roman" ALIGN="center"><B></B>&#9744;<B></B><B></B></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top" ALIGN="center"><B>FOR</B><BR> <P STYLE="margin-bottom:1pt; margin-top:0pt; font-size:8pt; font-family:Times New Roman" ALIGN="center"><B></B>&#9744;<B></B><B></B></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top" ALIGN="center"><B>ABSTAIN</B><BR> <P STYLE="margin-bottom:1pt; margin-top:0pt; font-size:8pt; font-family:Times New Roman" ALIGN="center"><B></B>&#9744;<B></B><B></B></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:8pt">
<TD VALIGN="top"><FONT STYLE="font-size:9pt">PROPOSAL 4: To ratify the appointment of Moss Adams LLP as the independent registered public accounting firm for Broadway Financial for its fiscal year ending December 31, 2020</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top" ALIGN="center"><B>FOR</B><BR> <P STYLE="margin-bottom:1pt; margin-top:0pt; font-size:8pt; font-family:Times New Roman" ALIGN="center"><B></B>&#9744;<B></B><B></B></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top" ALIGN="center"><B>AGAINST</B><BR> <P STYLE="margin-bottom:1pt; margin-top:0pt; font-size:8pt; font-family:Times New Roman" ALIGN="center"><B></B>&#9744;<B></B><B></B></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top" ALIGN="center"><B>ABSTAIN</B><BR> <P STYLE="margin-bottom:1pt; margin-top:0pt; font-size:8pt; font-family:Times New Roman" ALIGN="center"><B></B>&#9744;<B></B><B></B></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:8pt">
<TD VALIGN="top"><FONT STYLE="font-size:9pt">PROPOSAL 5: To cast an advisory (non-binding) vote as to whether the stockholder vote required to approve the compensation of named executive officers should occur every 1, 2, or 3 years</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top" ALIGN="center"><B>1 YEAR</B><BR> <P STYLE="margin-bottom:1pt; margin-top:0pt; font-size:8pt; font-family:Times New Roman" ALIGN="center"><B></B>&#9744;<B></B><B></B></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top" ALIGN="center"><B>2 YEARS</B><BR> <P STYLE="margin-bottom:1pt; margin-top:0pt; font-size:8pt; font-family:Times New Roman" ALIGN="center"><B></B>&#9744;<B></B><B></B></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top" ALIGN="center"><B>3 YEARS</B><BR> <P STYLE="margin-bottom:1pt; margin-top:0pt; font-size:8pt; font-family:Times New Roman" ALIGN="center"><B></B>&#9744;<B></B><B></B></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top" ALIGN="center"><B>ABSTAIN</B><BR> <P STYLE="margin-bottom:1pt; margin-top:0pt; font-size:8pt; font-family:Times New Roman" ALIGN="center"><B></B>&#9744;<B></B><B></B></P></TD></TR>
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<TD VALIGN="bottom" COLSPAN="5"><FONT STYLE="font-size:9pt">In their discretion, the proxy holders are authorized to vote upon such other business as may properly come before the Annual Meeting or any adjournments or postponements
thereof.</FONT></TD></TR>
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<TD VALIGN="bottom" COLSPAN="3"><FONT STYLE="font-size:9pt">Dated:
<U>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U>, 2020</FONT></TD></TR>
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<TD VALIGN="bottom" COLSPAN="3"><FONT STYLE="font-size:9pt">Signature(s)</FONT></TD></TR>
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<TD VALIGN="bottom" COLSPAN="3"><FONT STYLE="font-size:9pt">Signature (if held jointly)</FONT></TD></TR>
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<TD VALIGN="bottom" COLSPAN="3"><FONT STYLE="font-size:9pt">Title(s), if any</FONT></TD></TR>
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<TD VALIGN="bottom" COLSPAN="3"><FONT STYLE="font-size:9pt">Please sign exactly as your name(s) appear(s) hereon. If shares are issued in the name of two or more persons, all such persons should sign the proxy. A proxy executed by a corporation
other company should be signed in its name by its authorized officers. Executors, administrators, trustees and partners should indicate their positions when signing.</FONT></TD></TR>
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