Investor Presentaiton

Borrowers in IDR (%) ** Excludes PSLF GNN W w 20 15 10 25 Default rate (%) Navient delivers strong performance for borrowers Navient's CDR is 26% lower than all others 7.5% Navient-serviced borrowers are 26% less likely Navient helps borrowers use forbearance responsibly to default 9.7% Pre-COVID forbearance usage is in line with other servicers 20 251 15 10 forbearance (%) Borrowers in 5 0 03/15 06/15 09/15 All borrowers Navient-serviced borrowers Navient's IDR enrollment leads comparable servicers PHEAA 35- 30 Great Lakes/ Nelnet - Navient - NFP PHEAA Great Lakes Navient Effective March 27, 2020, all ED-owned loans were placed in a COVID-19 disaster forbearance. Note: increase in forbearance usage in Sept 2017 due to disaster relief in Puerto Rico, Florida, and Texas Data-driven programs help make contact 9 times out of 10 ...when we can reach a past-due federal student loan borrower, Navient can help him or her avoid default. 12/15 03/16 06/16 09/16 12/16 03/17 06/17 09/17 12/17 03/18 06/18 09/18 12/18 03/19 06/19 12/15 03/16 06/16 09/16 12/16 03/17 06/17 09/17 12/17 03/18 06/18 09/18 12/18 03/19 06/19 09/19 12/19 03/20 06/20 09/20 Text Video Message Sources* FSA data center, Federal Student Loan portfolio, Portfolio by Loan Status; forbearance as a percent of borrowers in repayment, forbearance, and deferment, "Official Cohort Default Rates for Schools," Federal Student Aid, 10/8/2020; Navient data, Federal Student Aid, "Federal Student Loan Portfolio - FSA Data Center," U.S. Department of Education, as of June 2020, accessed 10/27/2020. **Excludes borrowers enrolled in Public Service Loan Forgiveness which are placed with one servicer. Nelnet services direct student loans under two brands, Nelnet & Great Lakes *Including all types of forbearance, including forbearance necessary for IDR enrollment ©2021 Navient Solutions, LLC. All rights reserved. E-Mail Phone Call Mail 90% of borrowers who default have not responded to Navient outreach during the year of missed payments leading up to default. ||| 39 09/19 Nelnet 12/19

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