Investor Presentaiton

Education Loan Portfolio Generates Meaningful Cash Flows Over The Next Five Years • Projected Annual Private Education Loan Cash Flows ($'s in Billions) $1.2 $1.1 $1.0 $1.0 $1.0 $0.9 $0.8 $0.8 $0.6 $0.4 $0.2 $0.0 2021 2022 2023 2024 Projected Annual FFELP Loan Cash Flows $1.6 $1.4 $1.2 $1.2 ($'s in Billions) $1.0 $1.0 $1.0 $0.9 $0.8 $0.8 $0.6 $0.4 $0.2 $0.0 2025 2021 2022 2023 2024 2025 ■Cash Flows assuming call option can be exercised at 10% Private Education Loan Portfolio Assumptions The Private Education Loan portfolio is projected to generate $4.8 billion in cash flows through 2025 excluding operating expenses, taxes and unsecured debt principal and interest payments Future loan originations are not included Unencumbered loans of $2.4 billion are not securitized to term ■Cash Flows assuming trusts run to maturity FFELP Loan Portfolio Assumptions The FFELP loan portfolio is projected to generate $4.9 billion in cash flows through 2025 excluding operating expenses, taxes and unsecured debt principal and interest payments Unencumbered loans of $0.2 billion are not securitized to term Includes projected floor income • Includes the repayment of debt related to asset-backed securitization repurchase facilities when the call option is exercised These projections are based on internal estimates and assumptions and are subject to ongoing review and modification. These projections may prove to be incorrect. ©2021 Navient Solutions, LLC. All rights reserved. ||| 19

View entire presentation