Slide 1: SLM Corporation Earnings Presentation Fourth Quarter 2021
Exhibit 99.1 SLM Corporation Earnings Presentation Fourth Quarter 2021 sallie mae’ ) January 27, 2022
Slide 2: Forward-Looking Statements and Disclaimer
Forward-Looking Statements and Disclaimer Cautionary Note Regarding Forward-Looking Statements sallie mae The following information is current as of January 26, 2022 (unless otherwise noted) and should be read in connection with the press release of SLM Corporation (the “Company”) announcing, its fi
Slide 3: Strengthening Economy, Strategic Execution, Nitro Acquisition
sallie mae Strengthening Economy - Average unemployment rate for the over 25 year-old college graduate population improved to 2.2% in Q4 2021 from 2.8% in Q3 2021.'5 - Expect spring semester demand to be largely unimpacted by recent uptick in COVID cases due to minor delays to the semester start dat
Slide 4: Private Education Loan Originations
Private Education Loan Originations® % Cosigned % In School Payment Avg FICO at Approval’? Sallie Mae Annual Originations (s mitiions) 6% _ $5,625 (5%) 2% 5,493 ayy _, $5315 $5,321. $5 $4,666 2% _ $4,800 | r 2016 2017 2018 2019 2020 2021 89% 88% 87% 87% 86% 86% 55% 54% 57% 58% 60% 59% 748 747 746 74
Slide 5: Pursued a Simple Yet Powerful Strategy
Over the Last 18 Months, Sallie Mae Has olig, Pursued a Simple Yet Powerful Strategy Strategic Imperatives: 1. lant Maximize the profitability and growth of our core 3. [1 Better inform the external narrative about private student aS Develop & nurture a mission-led culture lending and Sallie Mae bus
Slide 6: Revenue, Total Operating Expenses, Earnings/Capital
Revenue • • Total Operating Expenses • Earnings/Capital • • • •
Slide 7: Quarterly Financial Highlights
Quarterly Financial Highlights? Income Statement ($ Millions) Q4 Q3 Q4 2021 2021 2020 Total interest income $458 $448 $480 Total interest expense a 90 113 Net Interest Income 367 358 367 Less: provisions for credit losses (15) 138 (316) Total non-interest income 153 14 1 Total non-interest expenses
Slide 8: Annual Financial Highlights
Annual Financial Highlights? Income Statement ($ Millions) Total interest income Total interest expense Net Interest Income Less: provisions for credit losses Total non-interest income Total non-interest expenses Income tax expense Net Income Preferred stock dividends Net income attributable to comm
Slide 9: Credit Performance
Credit Performance": 12. 13, 16 allt mae Private Education Loans Held for Investment Quarters Ended December 31, 2021 September 30, 2021 December 31, 2020 ($ Thousands) Balance % Balance % Balance % Loans in repayment and percentage of each status: Loans current $ 15,005,773 96.7% $15,115,541 97.6%
Slide 10: Allowance for Credit Losses Q4 2021
Allowance for Credit Losses Q4 2021 sale, Consolidated Statements of Income Provisions for Credit Losses Reconciliation ‘$ Thousands) Private Education Loan provisions for credit losses: Provisions for credit losses. Provisions for unfunded loan commitments. Total Private Education Loan provisions f
Slide 11: A Simple Vision
A Simple Vision: Sallie Mae provides tools, content, data, & insight to address common needs & pain points so students can confidently navigate their journey to, through & immediately after college Students & families seek out Sallie Mae for those solutions often through organic channels or low cost
Slide 12: The Purchase of Nitro Accelerates Our Journey
The Purchase of Nitro sali, Accelerates Our Journey™2° . . e = » Epic Research, which is based in Delaware, [N] NITES launched Nitro in 2016 » Nitro is an online portal with tools, content & resources to help students & families evaluate how to responsibly pay for & pay off their college education N
Slide 13: The Nitro Acquisition is Expected to Have Immediate Benefits
The Nitro Acquisition is Expected to Have Immediate _ -:- mae Benefits & Supports Our Strategic Focus"™.2° Creates immediate opportunities to our core business Significant increases in our active lead and customer database: 7X ~~ 1.7K 2X increase increase increase College Bound Students in Parents o
Slide 14: Guidance
Guidance” alls mae For the full-year 2022, the Company expects: $2.80- $3.00 8%-10% Diluted Non-GAAP “Core Earnings”! Private Education Loan Per Common Share Originations Year-Over-Year Growth $255 million - $555 million - $275 million $565 million Total Loan Portfolio Non-Interest Net Charge-Offs E
Slide 15: Footnotes
Footnotes sallg, Derivative Accounting: we provide non-GAAP “Core Earnings” because it is one of several measures management uses to evaluate management performance and allocate corporate resources. Non-GAAP “Core Earnings” exclude periodic unrealized gains and losses caused by the mark-to-fair valu
Slide 16: Footnotes (continued)
Footnotes (continued) slg, 15. 16. 7. 18. 18: 20. ai. Quarterly average: Source based on U.S. Bureau of Labor Statistics (BLS): Current Population Survey (CPS) as of December 2021. A-5. Employment status of the civilian noninstitutional population 25 years and over by educational attainment, seasona
Slide 17: Non-GAAP Core Earnings to GAAP Reconciliation
Non-GAAP “Core Earnings” to GAAP Reconciliation aellle Quarters Ended Years Ended ($ Thousands except per share amounts) 2021 Sep.30, 2021 Dec. 31,2020 Dec, 31, 2021 Non-GAAP “Core Earnings” adjustments to GAAP: GAAP net income $306,265 $72,840 $432,700 $1,160,513 $880,690 Preferred stock dividends