ASF 2013 Investor Presentation - *
Forward-Looking Statements
Statements in this presentation regarding First Marblehead’s strategy and the characteristics, pricing or performance of future Monogram®-based private
education loan portfolios, and our expectations as to future financial success, as well as any other statements in this presentation that are not purely historical,
constitute forward-looking statements for purposes of the safe harbor provisions of The Private Securities Litigation Reform Act of 1995. These forward-looking
statements are based on our historical performance and on our plans, estimates and expectations as of January 28, 2013. The inclusion of this forward-looking
information should not be regarded as a representation by us or any other person that the future results, plans, estimates and expectations expressed or
implied by us will be achieved. You are cautioned that matters subject to forward-looking statements involve known and unknown risks and uncertainties,
including economic, legislative, regulatory, competitive and other factors, which may cause our actual financial or operating results, facilitated loan volumes and
resulting cash flows or financing-related revenues, or the timing of events, to be materially different than those expressed or implied by our forward-looking
statements. Important factors that could cause or contribute to such differences include: market acceptance of, and demand for, our Monogram platform and
fee-based service offerings, including our success in negotiating loan program agreements with additional clients; the successful sales and marketing of
Monogram-based loan offerings, including the volume of loan applications and the extent to which loan applications ultimately result in disbursed loans; the
volume, timing and performance of disbursed loans; the size and structure of any credit enhancement provided by us in connection with our Monogram
platform; our success in designing, implementing and commercializing private education loan programs through Union Federal Savings Bank, including receipt of
and compliance with regulatory approvals and conditions with respect to such programs; capital market conditions and our ability to structure securitizations or
alternative financings; the size, structure and timing of any such securitizations or alternative financings; any investigation, audit, claim, regulatory action or
suit relating to the transfer of the trust certificate of NC Residuals Owner Trust or the asset services agreement between the purchaser and us, including any
challenge to tax refunds previously received as a result of the audit being conducted by the Internal Revenue Service; resolution of litigation and regulatory
proceedings pertaining to our Massachusetts state income tax returns; the estimates and assumptions we make in preparing our financial statements, including
quantitative and qualitative factors used in determining the estimate of the fair value of service revenue receivables; and the other factors set forth under the
caption "Part II - Item 1A. Risk Factors" in our quarterly report on Form 10-Q filed with the Securities and Exchange Commission on November 8, 2012.
Important factors that could cause or contribute to future adjustments to the estimates and assumptions we make in preparing our financial statements include:
actual transactions or market observations relating to asset-backed securities, loan portfolios or corporate debt securities; variance between our performance
assumptions and the actual performance of the loan portfolios held by the GATE Trusts, Union Federal Savings Bank or our clients (the "Portfolios"); economic,
legislative, regulatory, competitive and other factors affecting discount, default, recovery and prepayment rates on the Portfolios, including general economic
conditions, the consumer credit environment and unemployment rates; management's determination of which qualitative and quantitative factors should be
weighed in our estimates, and the weight to be given to such factors; capital markets receptivity to securities backed by private education loans; and interest
rate trends. We specifically disclaim any obligation to update any forward-looking statements as a result of developments occurring after January 28, 2013,
even if our estimates change, and you should not rely on those statements as representing our views as of any date subsequent to January 28, 2013.
Disclaimer
The information in this presentation is intended to provide a broad overview of a portfolio of private education loans previously facilitated by First Marblehead.
Neither First Marblehead nor any other party is offering any securities by making this presentation or soliciting any action based upon the information provided.
Nothing in this presentation should be relied upon as a representation by First Marblehead, or any other person, as to the future performance of any securities
that may be issued in the future. The information contained herein is intended to be illustrative only, and historical collateral pools may not be representative of
any future collateral pool.
