SLM (SLM) investor relations material

Executive summary

• 2025 marked a pivotal year with industry reforms and strategic shifts, including a new partnership model to enhance capital efficiency and broaden customer reach.

• Achieved strong financial results: $729M net income, $3.46 diluted EPS, $7.4B in loan originations, and a 6% reduction in shares outstanding via repurchases.

• Focused on innovation, digital transformation, and disciplined growth in private student lending, with expanded offerings for graduate students.

• Maintained rigorous capital allocation, returning value to shareholders through dividends and buybacks.

Voting matters and shareholder proposals

• Shareholders are to vote on: (1) election of 13 directors for one-year terms, (2) advisory approval of executive compensation, and (3) ratification of KPMG LLP as independent auditor for 2026.

• Board recommends voting FOR all proposals.

• No other business is currently anticipated for the annual meeting.

Board of directors and corporate governance

• Board consists of 13 nominees, 92% independent, with diverse expertise in finance, technology, risk, and education.

• Separate roles for Board Chair and CEO; Board Chair is independent.

• Annual self-assessment and director elections; majority vote standard in uncontested elections.

• Stock ownership guidelines and tenure diversity (46% with less than four years' service).