Split the pizza dough into 4 equal pieces. Using your hands, roll each piece into a small round pizza shape.
Spread pizza sauce over half of each dough round, leaving the edges clean for sealing.
Add a layer of shredded mozzarella, followed by pepperoni slices, then top with another layer of mozzarella.
Fold the clean side of the dough over the filling to form a half-circle. Crimp the edges firmly with your fingers or a fork to seal.
Lightly spray the air fryer basket with oil. Place the calzones into the basket, leaving space between them.
Air fry at 375°F for 7–10 minutes, flipping halfway through, until golden brown and crispy.
Let cool slightly before serving.