Slide 1: Earnings Presentation 1st Quarter 2025
Earnings Presentation 1st Quarter 2025 Confidential and proprietary information. © 2025 Sallie Mae Bank. All rights reserved. 1
Slide 2: Cautionary Note and Disclaimer Regarding Forward-Looking Statements
CAUTIONARY NOTE AND DISCLAIMER REGARDING FORWARD-LOOKING STATEMENTS The following information is current as of April 24, 2025 (unless otherwise noted) and should be read in connection with the press release of SLM Corporation announcing its financial results for the quarter ended March 31, 2025, fur
Slide 3: 1st Quarter 2025 Highlights
Balance Sheet & Capital Allocation $2.8B 7.3% 1stQuarter Private Education Loan Private Education Loan 2025 Highlights Originations(1) in Q1 2025 Originations(1) growth in Q1 as compared to $2.6B in 2025, compared to Q1 2024. the year-ago quarter. $0.13 60% (4) 12.9% Common stock dividend per share
Slide 4: Additional Key Performance Metrics
Loan Sales Funding & Liquidity Additional Key Performance Deposit portfolio balances $2.0B at the end of Q1 2025 were 4% 3% Metrics lower than at the end of Q1 Private Education Loans, 2024; Q1 2025 mix of brokered Uninsured deposits as a percentage including $1.84 billion of vs. retail and other wa
Slide 5: Private Education Loan Trends
Private In School Cosigned Private Education Loan Originations(1) Average FICO at Approval(2) Payment Education Loan Trends * Full Year 2025* 2025 $2,771 First quarter 2025 originations at Q1 approximately $2.77 billion, 7% higher than the year-ago quarter. 2024 $2,582 $7,013 752 56% 90% Cosigned ra
Slide 6: Quarterly Financial Highlights
Quarterly Financial Highlights Q1 Q4 Q1 Q1 Q4 Q1 2025 2024 2024 2025 2024 2024 Income Statement ($ Millions) Key Performance Metrics ($ in millions) Total interest income 656 661 $664 Net Interest Margin 5.27% 4.92% 5.49% Total interest expense 281 299 277 Net Interest Income 375 362 387 Yield—Total
Slide 7: Credit Performance
Credit Performance (5)(6)(7) Private Education Loans Held for Investment Quarters Ended MAR 31, 2025 DEC 31, 2024 MAR 31, 2024 ($ Thousands) Balance % Balance % Balance % Loans in repayment and percentage of each status: Loans current $ 15,333,672 96.4% $ 15,513,333 96.3% $ 14,451,606 96.6% Loans de
Slide 8: Allowance for Credit Losses
Allowance for Credit Losses Consolidated Statements of Income – Provision for Credit Losses Reconciliation Factors affecting the Provision for Credit Losses 1st Quarter 2025 Quarter Ended ($ THOUSANDS) March 31, 2025 • Provision for credit losses was Private Education Loan provision for credit losse
Slide 9: 2025 Guidance
For the full year 2025, the Company expects: 2025 Guidance * $3.00 - $3.10 6% - 8% GAAP Diluted Earnings Private Education Loan Originations Per Common Share Year-over-Year Growth 2.0% - 2.2% $655 - $675 Total Loan Portfolio Net Charge-Offs Million as a Percentage of Average Loans in Repayment Non-I
Slide 10: Footnotes
Footnotes 1. Originations represent loans that were funded or acquired during the period presented. 2. Represents the higher credit score of the cosigner or the borrower. 3. We calculate and report our Return on Assets (“ROA”) as the ratio of (a) GAAP net income (loss) numerator (annualized) to (b)