Slm Corporation · NASDAQ:SLM
Slm — Q3 2025 Earnings Presentation
10 slides from Slm's earnings presentation, Oct 23, 2025
Slide 1: Earnings Presentation 3rd Quarter 2025
Earnings Presentation 3rd 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 October 23, 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 September 30, 202
Slide 3: 3rd Quarter 2025 Highlights
Balance Sheet & 3rd Quarter Capital Allocation $2.9B $0.13 Private Education Loan Common stock dividend per 2025 Highlights Originations(1) in Q3 2025 as compared to $2.8B in the share paid in Q3 2025. year-ago quarter. 24.3% (2) 12.6% Return on Common Equity for Total risk-based capital ratio; Q3 2
Slide 4: Additional Key Performance Metrics
Funding & Liquidity Additional Key Performance 15.8% Deposit portfolio balances at the end of Q3 2025 were 7% Metrics lower than at the end of Q3 2024; Q3 2025 mix of brokered Liquidity ratio as of September 30, vs. retail and other was 2025. approximately 39% and 61%, respectively. $1.9B Private Ed
Slide 5: Private Education Loan Trends
Average FICO In School Cosigned Private Private Education Loan Originations(1) at Approval(5) Payment Education Q3 Loan Trends Full Year 2025* 2025 * $6,393 Third quarter 2025 originations at YTD approximately $2.9 Billion, 6% growth from the year-ago quarter. 2024 $7,013 752 56% 90% Third quarter 2
Slide 6: Quarterly Financial Highlights
Quarterly Financial Highlights Q3 Q2 Q3 Q3 Q2 Q3 2025 2025 2024 2025 2025 2024 Income Statement ($ Millions) $ $ $ Key Performance Metrics ($ in millions) Total interest income 658 657 653 Net Interest Margin 5.18% 5.31% 5.00% Total interest expense 285 280 293 Net Interest Income 373 377 359 Yield—
Slide 7: Credit Performance
Credit Performance (7)(8)(9) Private Education Loans Held for Investment Quarters Ended SEPT 30, 2025 JUN 30, 2025 SEPT 30, 2024 ($ Thousands) Balance % Balance % Balance % Loans in repayment and percentage of each status: Loans current $ 15,638,904 96.0% $ 15,661,996 96.5% $ 14,806,983 96.4% Loans
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 3rd Quarter 2025 Quarter Ended September 30, 2025 ($ THOUSANDS) • Total Allowance % of Private Private Education Loan provision for credit loss
Slide 9: 2025 Guidance
For the full year 2025, the Company expects: 2025 Guidance * $3.20 - $3.30 5% - 6% 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. We calculate and report our Return on Common Equity (“ROCE”) as the ratio of (a) GAAP net income (loss) attributable to SLM Corporation common stock numerator (annualized) to (b) the net denominato