4Q 2025 Earnings Call Presentation Confidential and proprietary information © 2026 Navient Solutions, LLC. All rights reserved. 1 Delivering Value to Shareholders Enhance the value of our growth businesses Maximize the cash flows from our loan portfolios Continuously simplify the business and increase efficiency Maintain a strong balance sheet and distribute excess capital • Invest in capabilities to grow high-quality loan originations that generate targeted returns, and explore opportunities to deepen rela ...

Core Insights - The partnership aims to provide financial education and resources to help individuals manage their savings, debt, and investments effectively [1][3][17] Financial Management Strategies - Emphasis on utilizing high-yield savings accounts and managing debt strategically to minimize interest payments [2][4] - Importance of refinancing options for mortgages and student loans to improve financial standing [3][4] Generational Perspectives - Gen Z faces unique financial challenges, having experienced economic downturns and a tough job market, leading to skepticism about traditional financial success narratives [8][9][10] - The need for updated financial education that resonates with younger generations, moving away from outdated advice [10][11] Financial Literacy and Empowerment - The initiative focuses on enhancing financial literacy, enabling individuals to understand debt, taxes, and investment strategies [6][12] - The upcoming book aims to reshape mindsets regarding consumerism and financial planning, including estate planning for generational wealth [14][12] Investment Education - A call for early investment education to help individuals build wealth over time, with initiatives like the Generational Wealth Fund [15][17] - Distinction between investing and gambling, highlighting the importance of a disciplined investment strategy [19][20]

Earnest's Strategy and Financial Performance - Navient's restructuring program has increased future cash flows, adding approximately $2 billion to existing net cash flow for growth investments or distributions[13] - Earnest aims to achieve overall efficiency equal to or greater than peers at lower breakeven volumes[15] - Earnest has over 375,000 unique customer relationships as of September 30, 2025, with over 40,000 expected to be added in 2026[20] - For 2025E, Earnest's total revenue is projected to be $219 million, with net interest income of $168 million and servicing revenue of $51 million[26] - Earnest's total assets are projected to be $10,007 million, with securitized loans of $8,255 million and equity of $724 million as of December 31, 2025[28] Growth and Efficiency Improvements - Annual originations are expected to increase 2.5x from $971 million in 2023 to $2,400 million in 2025E[37] - Quarterly rate check volume (Q3) for SLR is expected to increase 3.9x from $1.4 billion in 2023 to $5.4 billion in 2025E[37] - Sales & Marketing expenses as a percentage of originations are expected to decrease by 59% from 5.6% in 2023 to 2.3% in 2025E[37] - Loan automation (Q3) is expected to increase 1.4x from 57% in 2023 to 79% in 2025E[37] Market Opportunity and Future Plans - The total Earnest opportunity in non-education loans is projected to be $47 billion in 2026 and $101 billion in 2028[46]

Core Insights - SoFi and Barclays are both online banks that offer minimal fee accounts and competitive interest rates, making them suitable for customers with simple banking needs [1] Group 1: Company Overview - SoFi, founded in 2011, is a financial technology company that serves over 6.9 million customers and offers a range of products including lending, investing, and personal banking [2] - Barclays Bank has a history of over 300 years and serves 48 million customers globally, providing retail banking, credit cards, and investment services [3] Group 2: Deposit Account Options - SoFi offers an interest-bearing checking account with a 0.5% APY, no overdraft fees, and no minimum balance requirements, while Barclays does not offer checking accounts [4][5] - Both banks provide high-yield savings accounts, with Barclays offering 3.7% APY and SoFi providing a limited-time offer of up to 4.5% APY for six months [7] Group 3: Additional Products and Services - SoFi has a broader range of products including student loan refinancing, personal loans, and insurance, while Barclays primarily offers savings accounts and CDs [9][10] - Barclays offers CDs with terms from six months to five years and competitive interest rates up to 4% APY, which SoFi does not provide [9] Group 4: APYs and Fees - SoFi generally offers higher APYs compared to Barclays on the products they both provide, but Barclays has competitive rates on CDs [11] - Both banks are low-cost options compared to traditional banks, but SoFi has an advantage for customers who frequently use ATMs [12] Group 5: Customer Suitability - SoFi is ideal for customers looking to earn high rates on savings and prefer having both checking and savings accounts at the same bank [13] - Barclays is suitable for savers interested in top CD rates and those starting out, as it has no monthly service fees or minimum balance requirements [14]