DealVector to assist PCG Academic Loan Group with amendments to insert LIBOR Fallback language in its ALG Student Loan Trusts.

ALG Student Loan Trust I & ALG Student Loan Trust II
Statement from PCG Academic Loan Group, Inc. Concerning LIBOR Transition
October 28, 2020

ALG Student Loan Trust I and ALG Student Loan Trust II (the “Trusts”) have issued, and have outstanding, several series of student loan backed notes (the “Notes”) that bear interest either (i) at a rate equal to the London Interbank Offered Rate (“LIBOR”) plus a specified margin or (ii) pursuant to an auction process where LIBOR is one of the components used to calculate the applicable interest rate under certain circumstances. Because the United Kingdom’s Financial Conduct Authority, which regulates LIBOR, has announced that it intends to stop encouraging or requiring banks to submit LIBOR rates after 2021, PCG Academic Loan Group, Inc., as administrator of the Trusts, intends to solicit holders of the Notes to consent to amendments to the indentures under which the Notes were issued, which amendments would provide an alternative mechanism for determining the interest rate on the Notes if LIBOR no longer is provided. Each amendment will require the consent of 100% of the holders of the Notes of the applicable Trust.

We expect this amendment process to begin in early 2021, and will be done simultaneously for both Trusts. Holders of Notes are encouraged to register their holdings at DealVector.com in preparation for the upcoming consent materials that will be distributed. Periodic reports and notices concerning the Trusts are available to registered users on the investor relations website: www.academicloangroup.com/investors.

Questions about the upcoming amendments should be directed to Nimbus One Financial, LLC, as subadministrator, on behalf of PCG Academic Loan Group, Inc., at:

Nimbus One Financial, LLC
Attn: Emily Stebing
3268 Governor Drive #319
San Diego, CA 92122-2902
investorrelations@nimbus1.com
(858) 259-7011 ext. 380