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Investor Presentaiton

Consumer Lending Segment "Core Earnings" Basis Selected Financial Information and Ratios ($ In millions) Q4 20 Q4 19 2020 2019 Segment net interest margin 3.02% 3.31% 3.20% 3.30% Private Education Loans (including Refinance Loans): Provision for loan losses $2 $42 $142 $228 Charge-offs 1 $28 $97 $184 $364 Annualized charge-off rate 1 0.53% 1.75% 0.88% 1.67% Greater than 30-days 2.6% 4.6% 2.6% 4.6% delinquency rate Greater than 90-days 1.0% 2.0% 1.0% 2.0% delinquency rate Forbearance rate 3.9% 2.7% 3.9% 2.7% Average Private Education Loans $22,296 $22,624 $22,720 $22,512 Operating Expense Net Income • • Full Year and 4th Quarter Highlights Consumer Lending Q4 20 Net Interest Margin: 302 basis points Q4 20 Charge-off Rate 1: 53 basis points Annualized charge-off rate declined 70% to 53 basis points 1 compared to the year ago quarter Private Education Loan delinquency rate declined 43% to 2.6% compared to the year ago quarter Q4 20 Forbearance rate declined 73% from its peak of 14.7%, in Q2 20 Forbearance rate increased to 3.9% from 2.7% in the year ago quarter Originated $4.6 billion of Private Education Refinance Loans in 2020 $1.1 billion of Private Education Refinance Loans originated in Q4 20 with an average FICO of 771 $37 $40 $146 $156 $108 $89 $360 $316 Full year net income increased 14% or $44 million, to $360 million compared to the year ago quarter 1 1 Excluding the $23M and $21M of charge-offs on the expected future recoveries of charged-off loans in 2020 and 2019, respectively, that occurred as a result of changing the charge-off rate from 81% to 81.4% in 2020 and from 80.5% to 81% in 2019. ©2021 Navient Solutions, LLC. All rights reserved. 46
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