Investor Presentaiton

FFELP Cash Flows Highly Predictable $'s in millions as of 12/31/2020 2021 2022 2023 2024 2025 2026 2027 2028 Projected FFELP Average Balance $54,649 $48,521 $42,753 $37,436 $32,510 $27,882 $23,606 $19,649 Projected Excess Spread $579 $521 $459 $406 $364 $337 $301 $263 Projected Servicing Revenue $267 $243 $220 $198 $176 $155 $134 $113 Projected Total Revenue $846 $764 $679 $604 $541 $492 $435 $376 2029 2030 2031 2032 2033 2034+ Projected FFELP Average Balance $15,987 $12,655 $9,562 $6,856 $4,610 $1,193 Projected Excess Spread $230 $203 $169 $134 $123 $176 Projected Servicing Revenue $92 $73 $55 $39 $26 $42 Projected Total Revenue $323 $276 $224 $173 $149 $219 • Total Cash Flows from Projected Excess Spread = $4.3 Billion . Total Cash Flows from Projected Servicing Revenues = $1.8 Billion Assumptions No Floor Income, CPR/CDR = 5% These projections are based on internal estimates and assumptions and are subject to ongoing review and modification. These projections may prove to be incorrect. *Numbers may not add due to rounding © 2021 Navient Solutions, LLC. All rights reserved. ||| 20 20

View entire presentation