Investor Presentaiton

FFELP ABS Issuance Characteristics FFELP ABS Transaction Features • Issue size of $500M+ • Senior and subordinate notes • Amortizing tranches with 1 to 10(+) year average lives • Fixed rate and floating rate securities Compliant with U.S. risk retention regulations • • Navient Solutions, LLC is master servicer Collateral Characteristics Guarantee of underlying collateral insulates bondholders from most risk of loss of principal 1 . Typically non-dischargeable in bankruptcy 1 Principal and accrued interest on underlying FFELP loan collateral carry insurance or guarantee of 97%-100% dependent on origination year and on meeting the servicing requirements of the U.S. Department of Education. © 2021 Navient Solutions, LLC. All rights reserved. ||| 23 23

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