Investor Presentaiton

FFELP ABS Transactions NAVSL 2021-1 NAVSL 2020-2 Pricing Date: Settlement Date: February 8, 2021 February 18, 2021 Issuance Amount: Collateral: $1,015,900,000 October 14, 2020 October 22, 2020 $776,800,000 U.S. Government Guaranteed FFELP Consolidation, and FFELP Non-Consolidation Loans U.S. Government Guaranteed FFELP Consolidation, and FFELP Non-Consolidation Loans Prepayment Speed 1: 4% CPR Consolidation / 6% CPR Non-Consolidation 8% CPR Rehabilitation 4% CPR Consolidation / 6% CPR Non-Consolidation 8% CPR Rehabilitation Class Ratings (M/S/D) 2 Amt. ($M) WAL3 Pricing 3 Class Ratings (M/S/D) 2 Amt. ($M) WAL³ Pricing 3 A-1A Aaa/AA+/AAA $150 5.77 Tranching: Swaps + 0.60% A-1A Aaa / AA+ / AAA $250 5.70 Swaps + 0.90% Aaa / AA+ / A-1B Aaa/AA+/AAA $852 5.77 1ML +0.60% A-1B $516 5.70 1ML + 0.90% AAA B Aaa/NR/AAA $14 12.85 1ML + 1.45% B Aaa/NR/AAA $11 12.34 1ML + 2.10% 1 Constant Repayment Rate (CPR) estimated based on a variety of assumptions concerning loan repayment behavior. 2 Represents ratings by Moody's (M), S&P (S), and DBRS (D). 3 Weighted Average Life (WAL) and Pricing are to the expected call date. ©2021 Navient Solutions, LLC. All rights reserved. III 14

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