Board of Directors Approves New $500 Million Share Repurchase Program

Sallie Mae (NASDAQ:SLM), formally SLM Corporation, today released fourth quarter and full-year 2025 financial results. Complete financial results and related materials are available at www.SallieMae.com/investors. The materials will also be available on the Securities and Exchange Commission's website at www.sec.gov.

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Sallie Mae will host an earnings conference call today, Jan. 22, 2026, at 5:30 p.m. ET. Executives will be on hand to discuss various highlights of the quarter and year and to answer questions related to Sallie Mae's performance. A live audio webcast of the conference call and presentation slides may be accessed at www.SallieMae.com/investors and the hosting website.

A replay of the webcast will be available via the company's investor website approximately two hours after the call's conclusion.

Sallie Mae announced today that its Board of Directors authorized a new stock repurchase program of up to $500 million of the Company's outstanding common stock, par value $0.20 per share, to begin on Jan. 22, 2026 (the "2026 Share Repurchase Program"). The 2026 Share Repurchase Program is expected to be completed over the next approximately 24 months ending Feb. 4, 2028. The Company's "2024 Share Repurchase Program," authorized on Jan. 23, 2024, with a repurchase capacity of $650 million, remains open. Repurchases may be made under the 2024 Share Repurchase Program until it expires on Feb. 6, 2026, or is expended (whichever comes first).

Under the announced program, Sallie Mae may repurchase shares of common stock from time to time in various transaction formats including, but not limited to, tender offers, open market purchases, accelerated share repurchases, negotiated or block purchases, and/or pursuant to trading plans in accordance with Rules 10b5-1 and 10b-18 of the Exchange Act. The actual timing, number, and value of shares repurchased under the program will be determined by management at its discretion and are dependent on a number of factors. Sallie Mae reserves the right to suspend or discontinue share repurchases at any time and for any reason.

Sallie Mae (NASDAQ: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.

Category: Corporate and Financial

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Media

Rick Castellano, 302-451-2541, rick.castellano@SallieMae.com

Investors

Kate deLacy, 571-438-9574, kate.delacy@salliemae.com

Sallie Mae Reports Fourth Quarter and Full-Year 2025 Financial Results