Nelnet receives $411M in ALLO unit redemption, records $175M pre-tax gain

NELNET INC

Cash proceeds of $411M from redeeming ALLO voting and all preferred membership interests.
Pre-tax gain of $175M recognized on the transaction.
Ownership of ALLO reduced from 45% to 27%; no preferred interests remain.
Remaining 27% voting interest carrying value is $0 under HLBV method.
Transaction closed June 4, 2025 per Membership Unit Redemption Agreement.

item 8.01

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