Financial Performance - GAAP Net Income attributable to common stock was $67 million in Q2 2025[10] - GAAP diluted earnings per common share was $0.32 in Q2 2025[11] - Net interest margin for Q2 2025 was 5.31%, a decrease of 5 basis points from Q2 2024[10] - Total non-interest expenses in Q2 2025 were $167 million, compared to $159 million in the year-ago quarter[11] - Return on Common Equity for Q2 2025 was 12.6%[8] Balance Sheet & Capital Allocation - Private Education Loan Originations were $686 million in Q2 2025, compared to $691 million in the year-ago quarter[7] - 2.4 million shares were repurchased in Q2 2025 at an average price of $29.46 per share[9] - $0.13 common stock dividend per share was paid in Q2 2025[7] Credit Performance - Private Education Loan net charge-offs for Q2 2025 were $94 million, representing 2.36% of average loans in repayment (annualized), compared with 2.19% in Q2 2024[20] - The provision for credit losses was $149 million in Q2 2025[18] - 3.5% of Private Education Loans were delinquent 30+ days as of June 30, 2025[19] Funding & Liquidity - Deposit portfolio balances at the end of Q2 2025 were 1% lower than at the end of Q2 2024[15]

Earnings Presentation 1 st Quarter 2025 1 Confidential and proprietary information. © 2025 Sallie Mae Bank. All rights reserved. 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, furnished to the Securities and Exchange Commission ("SEC") on April 24, 2025, and sub ...