>>> vector = np.array([0.465344, 0.519904])
>>> matrix_b = np.array([[-0.701366, 0.261183],[-0.295642, -1.41441 ]])
>>> vector - matrix_b
array([[1.16671 , 0.258721],
[0.760986, 1.934314]])
For subtraction, vector is broadcasted to the shape of matrix_b. The elements of the result are thus
vector[0] - matrix_b[0,0] vector[1] - matrix_b[0,1]
vector[0] - matrix_b[1,0] vector[1] - matrix_b[1,1]
Then,
>>> dist_matrix = np.linalg.norm(vector - matrix_b, ord=2, axis=1)
>>> dist_matrix
array([1.19505179, 2.07862222])
Referring to the documentation of numpy.linalg.norm, you can see that the axis argument specifies the axis for computing vector norms. So here, axis=1 means that the vector norm would be computed per row in the matrix.
Then, ord=2 for vector norms means that for a vector x, the result is sum(abs(x)**2)**(1./2) (which is also the formula for the Euclidean distance).
So, we have, mathematically:
dist_matrix[0] == (abs(vector[0] - matrix_b[0,0])**2 + abs(vector[1] - matrix_b[0,1])**2)**(1./2)
dist_matrix[1] == (abs(vector[0] - matrix_b[1,0])**2 + abs(vector[1] - matrix_b[1,1])**2)**(1./2)