Sallie Mae Reports First-Quarter 2020 Financial Results

First-Quarter GAAP Net Income Attributable to Common Stock of $359 Million, or $0.87 Per Diluted Share

Private Education Loan Originations Increase 8 Percent From the Year-Ago Quarter to $2.3 Billion

Completed $3.1 Billion in Loan Sales and Entered into $525 Million Accelerated Share Repurchase Agreement

Withdrawing Full-Year 2020 Guidance

Sallie Mae SLM, formally SLM Corporation, today released first-quarter 2020 financial results. Highlights of those results are included in the attached supplement. Complete financial results are available at www.SallieMae.com/investors.

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Sallie Mae will host an earnings conference call tomorrow, April 23, 2020, at 8 a.m. EDT. Executives will be on hand to discuss various highlights of the quarter and to answer questions related to Sallie Mae's performance. To participate, dial 877-356-5689 (USA and Canada) or 706-679-0623 (international) and use access code 6197339 starting at 7:45 a.m. EDT. A replay of the conference call will be available approximately two hours after the call's conclusion and will remain available through May 7, 2020, by dialing 855-859-2056 (USA and Canada) or 404-537-3406 (international) with access code 6197339.

A live audio webcast of the conference call and presentation slides may be accessed at www.SallieMae.com/investors.

Sallie Mae SLM believes education and life-long learning, in all forms, help people achieve great things. As the leader in private student lending, we provide financing and know-how to support access to college and offer products and resources to help customers make new goals and experiences, beyond college, happen. Learn more at SallieMae.com. Commonly known as Sallie Mae, SLM Corporation and its subsidiaries are not sponsored by or agencies of the United States of America.

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