3Q 2023 Earnings Call Presentation Confidential and proprietary information © 2023 Navient Solutions, LLC. All rights reserved. 1 Delivering Value to Shareholders | --- | --- | |----------------------------------------------------|---------------------------------------------------------------------------------------------------------------------------------------------------------| | | | | | | | Maximize the cash flows from our loan portfolios | • Manage credit and interest rate risk and help borrowers man ...

Confidential and proprietary information © 2023 Navient Solutions, LLC. All rights reserved. 1 2 Federal Education Loans Business Processing Solutions Federally guaranteed loans • Seasoned Private Education Loan Portfolio Strategic Imperatives Continuously simplify the business and increase efficiency Enhance the value of our growth businesses • Continuously strengthening our control environment Federal Education Loans – Overview • FFELP portfolio of $41 billion 5-Year Projected Annual FFELP Cash Flows 1 - ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 10-Q (Mark One) ☑ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2023 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number: 001-36228 Navient Corporation (Exact name of registrant as specified in its charter) Delaware 46-4054283 (State or other jurisdictio ...

Financial Data and Key Metrics Changes - The company reported core earnings per share of $1.73 year-to-date through Q2 2023, with updated full-year guidance of $3.15 to $3.30 per share, including $22 million in regulatory and restructuring expenses [42][67] - The net interest margin (NIM) for the Federal Education Loan segment was 97 basis points, down from 111 basis points a year ago, primarily due to a lower balance of loans eligible to earn income [61] - The overall efficiency ratio was maintained at 56%, consistent with full-year guidance of 55% to 58% [48][67] Business Line Data and Key Metrics Changes - In the Consumer Lending segment, net interest income for the quarter was $143 million, with a NIM of 297 basis points, an improvement of 31 basis points compared to the prior year [44] - The company originated $197 million in private education loans during the quarter, consisting of $142 million in refinancing and $55 million in new in-school loans [62] - Revenue from the Business Processing Solutions (BPS) segment increased to $83 million, with an EBITDA margin rising to 10% from 7% [46] Market Data and Key Metrics Changes - The company anticipates that the resumption of federal student loan payments will not significantly impact the current rate environment, as the addressable market for refinancing loans is expected to remain low [62][67] - The percentage of borrowers in repayment for the consumer lending portfolio is over 95%, reflecting a recovery from pandemic-related relief programs [36] Company Strategy and Development Direction - The company's strategy focuses on maximizing cash flows from loan portfolios, enhancing growth business value, maintaining a strong balance sheet, and simplifying operations for increased efficiency [6][24] - The management is conducting a comprehensive review of the business to identify opportunities for delivering greater shareholder value, emphasizing a flexible approach to capital allocation [29][106] Management's Comments on Operating Environment and Future Outlook - Management expressed caution regarding the impact of external economic factors on borrowers, particularly with over $1.5 trillion in education loan balances held by the U.S. government that will require repayments [64] - The company remains optimistic about its ability to manage interest rate risks and funding elements effectively, despite the current economic challenges [33][102] Other Important Information - The company has a strong capital allocation framework, maintaining an adjusted tangible equity ratio of 8.4%, up from 7.5% a year ago [65] - The company plans to return $100 million to shareholders through dividends and share repurchases, having reduced its share count by 4% [47][65] Q&A Session Summary Question: Can you talk about cash flows and commitment to capital returns? - Management emphasized the importance of cash flows and indicated a commitment to returning capital to shareholders [50][52] Question: What is the outlook for refinancing volumes as student loan repayments resume? - Management does not expect a significant increase in refinancing volumes due to the current rate environment and the resumption of payments [73][97] Question: How does the company view the competitive landscape for in-school originations? - Management feels confident about the products offered through the Earnest subsidiary and is focused on disciplined margins and returns [71][72] Question: What percentage of the FFELP book is enrolled in IDR plans? - Approximately 35% of borrowers and 45% of balances in the FFELP portfolio are currently enrolled in IDR plans [128] Question: What is the focus of the strategic review being undertaken? - The review aims to optimize the cost structure while also exploring growth opportunities across different business segments [130][106]

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 10-Q (Mark One) ☑ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2023 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number: 001-36228 Navient Corporation (Exact name of registrant as specified in its charter) Delaware 46-4054283 (State or other jurisdicti ...

Shared services are related to the management of the entire company or shared by multiple reporting segments Notes on Non-GAAP Financial Measures (Dollars in Millions) Confidential and proprietary information © 2023 Navient Solutions, LLC. All rights reserved. 16 5. Earnings before Interest, Taxes, Depreciation and Amortization Expense ("EBITDA") – This metric measures the operating performance of the Business Processing segment and is used by management and our equity investors to monitor operating perform ...

Navient Corporation (NASDAQ:NAVI) Q1 2023 Earnings Conference Call April 26, 2023 8:00 AM ET Company Participants Jen Earyes - Head of Investor Relations Jack Remondi - President and Chief Executive Officer Joe Fisher - Executive Vice President and Chief Financial Officer Conference Call Participants Mark DeVries - Barclays John Hecht - Jefferies Arren Cyganovich - Citi Moshe Orenbuch - Credit Suisse Bill Ryan - Seaport Research Partners Giuliano Bologna - Compass Point Jeff Adelson - Morgan Stanley Rick S ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 10-K (Mark One) Commission file number 001-36228 Navient Corporation (Exact Name of Registrant as Specified in Its Charter) Delaware 46-4054283 (State or Other Jurisdiction of Incorporation or Organization) 123 Justison Street, Wilmington, Delaware 19801 (302) 283-8000 (Address of Principal Executive Offices) (Telephone Number) Securities registered pursuant to Section 12(b) of the Act | | Trading | | | --- | --- | --- | | Title of ...

Navient Corporation (NASDAQ:NAVI) Q4 2022 Earnings Conference Call January 25, 2023 8:00 AM ET Company Participants Jennifer Earyes - Head of Investor Relations Jack Remondi - President and Chief Executive Officer Joe Fisher - Executive Vice President and Chief Financial Officer Conference Call Participants William Ryan - Seaport Research Partners Sanjay Sakhrani - Keefe, Bruyette, & Woods, Inc. Mark DeVries - Barclays Bank PLC Moshe Orenbuch - Credit Suisse Richard Shane - JPMorgan Chase & Co. Giuliano And ...

Confidential and proprietary information © 2023 Navient Solutions, LLC. All rights reserved. 3 The company could also be affected by, among other things: Federal Education Loans Segment Selected Financial Information and Ratios January 25, 2023 The following information is current as of December 31, 2022 (unless otherwise noted) and should be read in connection with Navient Corporation's "Navient" Annual Report on Form 10-K for the year end December 31, 2021 (the "2021 Form 10-K"), filed by Navient with the ...