PTRN · Pattern Group Inc.

The reported price represents the public offering price, less underwriting discounts and commissions, received by KL Pattern Holdings LP (the "KL Shareholder") in connection with a registered offering.

17,375,341 of the reported securities are held directly by the KL Shareholder, 302,256 of the reported securities are held directly by KLC Fund I LP ("KLC Fund I") and, after giving effect to a distribution by the KL Shareholder in connection with the reported sale, 1,298,945 of the reported securities are held directly by KL Pattern Co-Invest Partners LP ("KL Pattern Co-Invest"). The management of the KL Shareholder and the management of KLC Fund I are controlled by KLC Fund I GP LP ("KLC Fund GP"). The management of KL Pattern Co-Invest is controlled by KL CIP GP LP ("KL CIP GP"). KLC Fund I UGP LLC ("KLC Fund UGP") is the general partner of KLC Fund GP and KL CIP GP. The management of KLC Fund UGP is controlled by its managing member, John Bailey. As such, Mr. Bailey may be deemed to have voting and dispositive power with respect to the shares held by the KL Shareholder,

(Continued from footnote 2) KLC Fund I and KL Pattern Co-Invest but disclaims beneficial ownership except to the extent of his pecuniary interest therein.

These shares represent restricted stock units (RSUs) granted on May 15, 2026, which fully vest on the earlier of (i) May 15, 2027, or (ii) the date of the issuer's 2027 Annual Meeting of Stockholders, subject to the continued service of the reporting person to the issuer through the applicable vesting date. Each RSU represents a contingent right to receive one share of Series A common stock.

The price reported in column 4 is the weighted average price. The shares were sold in multiple transactions at prices ranging from $16.50 to $16.56 per share, inclusive. The reporting person will provide, upon request by the SEC staff, the issuer, or any security holder of the issuer, full information regarding the number of shares sold at each separate price within the range set forth in this footnote.

These shares represent restricted stock units (RSUs) granted on May 15, 2026, which fully vest on the earlier of (i) May 15, 2027, or (ii) the date of the issuer's 2027 Annual Meeting of Stockholders, subject to the continued service of the reporting person to the issuer through the applicable vesting date. Each RSU represents a contingent right to receive one share of Series A common stock.

These shares represent restricted stock units (RSUs) granted on May 15, 2026, which fully vest on the earlier of (i) May 15, 2027, or (ii) the date of the issuer's 2027 Annual Meeting of Stockholders, subject to the continued service of the reporting person to the issuer through the applicable vesting date. Each RSU represents a contingent right to receive one share of Series A common stock.

These shares represent restricted stock units (RSUs) granted on May 15, 2026, which fully vest on the earlier of (i) May 15, 2027, or (ii) the date of the issuer's 2027 Annual Meeting of Stockholders, subject to the continued service of the reporting person to the issuer through the applicable vesting date. Each RSU represents a contingent right to receive one share of Series A common stock.

These shares represent RSUs granted on March 23, 2026, which vest in equal annual installments over two years following March 23, 2026, subject to the continued service of Melanie Alder to the Issuer through each applicable vesting date. Each RSU represents a contingent right to receive one share of Series A common stock.

David K. Wright's spouse, Melanie Alder, is a director and the Chief Strategy Officer of the Issuer.

These shares represent restricted stock units (RSUs) granted on March 23, 2026, which vest in equal annual installments over two years following March 23, 2026, subject to the continued service of David K. Wright to the Issuer through each applicable vesting date. Each RSU represents a contingent right to receive one share of Series A common stock.

Represents shares of Series A Common Stock withheld by the Issuer in satisfaction of tax withholding obligations in connection with the vesting of restricted stock units ("RSUs") previously granted to the Reporting Person.

Represents shares of Series A Common Stock withheld by the Issuer in satisfaction of tax withholding obligations in connection with the vesting of restricted stock units ("RSUs") previously granted to the Reporting Person.

These shares include an award of 793,184 RSUs granted to the Reporting Person on August 26, 2025 under the Pattern Group Inc. 2019 Equity Incentive Plan, which grant was inadvertently omitted from the Form 3 filed on behalf of the Reporting Person on September 18, 2025 (and subsequently amended to reflect the August 26, 2025 grant).

Represents shares of Series A Common Stock acquired by KLC Fund I LP ("KLC Fund I").

The reported price is a VWAP. The reported securities were purchased in open market transactions at prices ranging from $12.00 to $12.81, inclusive. The reporting persons undertake to provide to the SEC, the Issuer or any stockholder of the Issuer, upon request, the number of shares purchased at each price within such range.

The reported securities are held directly by KL Pattern Holdings LP (the "KL Shareholder") and KLC Fund I. The management of the KL Shareholder and the management of KLC Fund I are controlled by KLC Fund I GP LP ("KLC Fund GP"). KLC Fund I UGP LLC ("KLC Fund UGP") is the general partner of KLC Fund GP. The management of KLC Fund UGP is controlled by its managing member, John Bailey. As such, Mr. Bailey may be deemed to have voting and dispositive power with respect to the shares held by the KL Shareholder and KLC Fund I but disclaims beneficial ownership except to the extent of his pecuniary interest therein.

Represents shares of Series A Common Stock acquired by KLC Fund I LP ("KLC Fund I").

The reported price is a volume weighted average price ("VWAP"). The reported securities were purchased in open market transactions at prices ranging from $13.15 to $13.49, inclusive. The reporting persons undertake to provide to the Securities & Exchange Commission ("SEC"), the Issuer or any stockholder of the Issuer, upon request, the number of shares purchased at each price within such range.

The reported securities are held directly by KL Pattern Holdings LP (the "KL Shareholder") and KLC Fund I. The management of the KL Shareholder and the management of KLC Fund I are controlled by KLC Fund I GP LP ("KLC Fund GP"). KLC Fund I UGP LLC ("KLC Fund UGP") is the general partner of KLC Fund GP. The management of KLC Fund UGP is controlled by its managing member, John Bailey. As such, Mr. Bailey may be deemed to have voting and dispositive power with respect to the shares held by the KL Shareholder and KLC Fund I but disclaims beneficial ownership except to the extent of his pecuniary interest therein.

Each share of Series A Preferred Stock converted into one share of Common Stock on a one-for-one basis immediately prior to the completion of the Offering. The shares of Series A Preferred Stock had no expiration date.

Pursuant to a reclassification exempt under Rule 16b-7 of the Securities Exchange Act of 1934, as amended, each share of Common Stock, $0.001 par value per share ("Common Stock"), was reclassified into one share of Series A Common Stock, $0.001 par value per share ("Series A Common Stock"), immediately prior to the completion of the Issuer's initial public offering of Series A Common Stock (the "Offering").

These shares are owned directly by KSV Pattern II, LLC ("KSV Pattern II). The managing member of KSV Pattern II is KS Global, and the member of KS Global is K12 Investments. The Reporting Person is a member of K12 Investments. The Reporting Person disclaims beneficial ownership of these securities, except to the extent, if any, of his pecuniary interest therein, and the filing of this Form 4 is not an admission that the Reporting Person is the beneficial owner of these securities for purposes of Section 16 or for any other purpose.

Pursuant to a reclassification exempt under Rule 16b-7 of the Securities Exchange Act of 1934, as amended, each share of Common Stock, $0.001 par value per share, was reclassified into one share of Series A Common Stock, $0.001 par value per share, immediately prior to the completion of the Issuer's initial public offering of Series A Common Stock.

The shares were sold in the Offering pursuant to an underwriting agreement by and among the Issuer, the representatives of the underwriters and the selling stockholders named therein, dated September 18, 2025. The price of $13.02 represents the $14.00 Offering price per share of Series A Common Stock of the Issuer less the underwriting discounts and commissions of $0.98 per share, for shares sold to the underwriters pursuant to the Offering.

These shares are owned directly by KSV Pattern II, LLC ("KSV Pattern II). The managing member of KSV Pattern II is KS Global, and the member of KS Global is K12 Investments. The Reporting Person is a member of K12 Investments. The Reporting Person disclaims beneficial ownership of these securities, except to the extent, if any, of his pecuniary interest therein, and the filing of this Form 4 is not an admission that the Reporting Person is the beneficial owner of these securities for purposes of Section 16 or for any other purpose.

The shares were sold in the Offering pursuant to an underwriting agreement by and among the Issuer, the representatives of the underwriters and the selling stockholders named therein, dated September 18, 2025. The price of $13.02 represents the $14.00 Offering price per share of Series A Common Stock of the Issuer less the underwriting discounts and commissions of $0.98 per share, for shares sold to the underwriters pursuant to the Offering.

These shares are owned directly by the Wright Irrevocable Trust dated December 5, 2019, of which David K. Wright and his spouse, Melanie Alder, are trustees. Each of David K. Wright and Melanie Alder disclaims beneficial ownership of these securities, except to the extent, if any, of their pecuniary interest therein, and the filing of this Form 4 is not an admission that any person is the beneficial owner of these securities for purposes of Section 16 or for any other purpose.

Each share of Series B Common Stock is convertible into one share of Series A Common Stock at the option of the holder at any time. Each share of Series B Common Stock will automatically convert into one share of Series A Common Stock upon certain transfers and the occurrence of certain events described in the Issuer's amended and restated certificate of incorporation.

Each share of Founder Voting Preferred Stock was reclassified into 1.219391493 shares of Series B Common Stock immediately prior to the completion of the Offering.

Pursuant to a reclassification exempt under Rule 16b-7 of the Securities Exchange Act of 1934, as amended, each share of Common Stock, $0.001 par value per share ("Common Stock"), was reclassified into one share of Series A Common Stock, $0.001 par value per share ("Series A Common Stock"), immediately prior to the completion of the Issuer's initial public offering of Series A Common Stock (the "Offering").

David K. Wright's spouse, Melanie Alder, is a director and the Chief Strategy Officer of the Issuer.

Pursuant to a reclassification exempt under Rule 16b-7 of the Securities Exchange Act of 1934, as amended, each share of Common Stock, $0.001 par value per share ("Common Stock"), was reclassified into one share of Series A Common Stock, $0.001 par value per share ("Series A Common Stock"), immediately prior to the completion of the Issuer's initial public offering of Series A Common Stock (the "Offering").

These shares are owned directly by KSV Pattern, LLC ("KSV Pattern"). The managing member of KSV Pattern is KS Global Innovation Partners LLC ("KS Global"), and the member of KS Global is K12 Investments, LLC ("K12 Investments"). The Reporting Person is a member of K12 Investments. The Reporting Person disclaims beneficial ownership of these securities, except to the extent, if any, of his pecuniary interest therein, and the filing of this Form 4 is not an admission that the Reporting Person is the beneficial owner of these securities for purposes of Section 16 or for any other purpose.

Pursuant to a reclassification exempt under Rule 16b-7 of the Securities Exchange Act of 1934, as amended, each share of Common Stock, $0.001 par value per share ("Common Stock"), was reclassified into one share of Series A Common Stock, $0.001 par value per share ("Series A Common Stock"), immediately prior to the completion of the Issuer's initial public offering of Series A Common Stock (the "Offering").

Pursuant to a reclassification exempt under Rule 16b-7 of the Securities Exchange Act of 1934, as amended, each share of Common Stock, $0.001 par value per share ("Common Stock"), was reclassified into one share of Series A Common Stock, $0.001 par value per share ("Series A Common Stock"), immediately prior to the completion of the Issuer's initial public offering of Series A Common Stock (the "Offering").

These shares are owned directly by KSV Pattern II, LLC ("KSV Pattern II). The managing member of KSV Pattern II is KS Global, and the member of KS Global is K12 Investments. The Reporting Person is a member of K12 Investments. The Reporting Person disclaims beneficial ownership of these securities, except to the extent, if any, of his pecuniary interest therein, and the filing of this Form 4 is not an admission that the Reporting Person is the beneficial owner of these securities for purposes of Section 16 or for any other purpose.

Each share of Founder Voting Preferred Stock was convertible into, subject to certain anti-dilution adjustments dependent on the Offering price, (i) one share of Common Stock or (ii) one share of Founder Non-Voting Preferred Stock, at any time at the option of the holder. The shares of Founder Voting Preferred Stock had no expiration date.

Each share of Founder Voting Preferred Stock was reclassified into 1.219391493 shares of Series B Common Stock immediately prior to the completion of the Offering.

David K. Wright's spouse, Melanie Alder, is a director and the Chief Strategy Officer of the Issuer.

Pursuant to a reclassification exempt under Rule 16b-7 of the Securities Exchange Act of 1934, as amended, each share of Common Stock, $0.001 par value per share ("Common Stock"), was reclassified into one share of Series A Common Stock, $0.001 par value per share ("Series A Common Stock"), immediately prior to the completion of the Issuer's initial public offering of Series A Common Stock (the "Offering").

David K. Wright's spouse, Melanie Alder, is a director and the Chief Strategy Officer of the Issuer.

Each share of Founder Non-Voting Preferred Stock was convertible into, subject to certain anti-dilution adjustments dependent on the Offering price, (i) one share of Common Stock or (ii) in contemplation of an Offering, one share of Founder Voting Preferred Stock, at any time at the option of the holder. The shares of Founder Non-Voting Preferred Stock had no expiration date.

Each share of Founder Non-Voting Preferred Stock was reclassified into 1.219391493 shares of Series A Common Stock immediately prior to the completion of the Offering.

These shares are owned directly by the Alder Irrevocable Trust dated December 5, 2019, of which David K. Wright and his spouse, Melanie Alder, are trustees. Each of David K. Wright and Melanie Alder disclaims beneficial ownership of these securities, except to the extent, if any, of their pecuniary interest therein, and the filing of this Form 4 is not an admission that any person is the beneficial owner of these securities for purposes of Section 16 or for any other purpose.

Pursuant to a reclassification exempt under Rule 16b-7 of the Securities Exchange Act of 1934, as amended, each share of Common Stock, $0.001 par value per share, was reclassified into one share of Series A Common Stock, $0.001 par value per share, immediately prior to the completion of the Issuer's initial public offering of Series A Common Stock.

Pursuant to a reclassification exempt under Rule 16b-7 of the Securities Exchange Act of 1934, as amended, each share of Common Stock, $0.001 par value per share, was reclassified into one share of Series A Common Stock, $0.001 par value per share, immediately prior to the completion of the Issuer's initial public offering of Series A Common Stock.

Each share of Founder Non-Voting Preferred Stock was reclassified into 1.219391493 shares of Series A Common Stock immediately prior to the completion of the Offering.

These shares are owned directly by the Alder Irrevocable Trust dated December 5, 2019, of which David K. Wright and his spouse, Melanie Alder, are trustees. Each of David K. Wright and Melanie Alder disclaims beneficial ownership of these securities, except to the extent, if any, of their pecuniary interest therein, and the filing of this Form 4 is not an admission that any person is the beneficial owner of these securities for purposes of Section 16 or for any other purpose.

Pursuant to a reclassification exempt under Rule 16b-7 of the Securities Exchange Act of 1934, as amended, each share of Common Stock, $0.001 par value per share, was reclassified into one share of Series A Common Stock, $0.001 par value per share, immediately prior to the completion of the Issuer's initial public offering of Series A Common Stock.

Each share of Founder Non-Voting Preferred Stock was convertible into, subject to certain anti-dilution adjustments dependent on the Offering price, (i) one share of Common Stock or (ii) in contemplation of an Offering, one share of Founder Voting Preferred Stock, at any time at the option of the holder. The shares of Founder Non-Voting Preferred Stock had no expiration date.

Each share of Founder Non-Voting Preferred Stock was reclassified into 1.219391493 shares of Series A Common Stock immediately prior to the completion of the Offering.

These shares are owned directly by the Wright Irrevocable Trust dated December 5, 2019, of which David K. Wright and his spouse, Melanie Alder, are trustees. Each of David K. Wright and Melanie Alder disclaims beneficial ownership of these securities, except to the extent, if any, of their pecuniary interest therein, and the filing of this Form 4 is not an admission that any person is the beneficial owner of these securities for purposes of Section 16 or for any other purpose.

Each share of Founder Non-Voting Preferred Stock was reclassified into 1.219391493 shares of Series A Common Stock immediately prior to the completion of the Offering.

These shares are owned directly by the Wright Irrevocable Trust dated December 5, 2019, of which David K. Wright and his spouse, Melanie Alder, are trustees. Each of David K. Wright and Melanie Alder disclaims beneficial ownership of these securities, except to the extent, if any, of their pecuniary interest therein, and the filing of this Form 4 is not an admission that any person is the beneficial owner of these securities for purposes of Section 16 or for any other purpose.

Pursuant to a reclassification exempt under Rule 16b-7 of the Securities Exchange Act of 1934, as amended, each share of Common Stock, $0.001 par value per share ("Common Stock"), was reclassified into one share of Series A Common Stock, $0.001 par value per share ("Series A Common Stock"), immediately prior to the completion of the Issuer's initial public offering of Series A Common Stock (the "Offering").

These shares are owned directly by KSV Pattern, LLC ("KSV Pattern"). The managing member of KSV Pattern is KS Global Innovation Partners LLC ("KS Global"), and the member of KS Global is K12 Investments, LLC ("K12 Investments"). The Reporting Person is a member of K12 Investments. The Reporting Person disclaims beneficial ownership of these securities, except to the extent, if any, of his pecuniary interest therein, and the filing of this Form 4 is not an admission that the Reporting Person is the beneficial owner of these securities for purposes of Section 16 or for any other purpose.

Each share of Founder Voting Preferred Stock was convertible into, subject to certain anti-dilution adjustments dependent on the Offering price, (i) one share of Common Stock or (ii) one share of Founder Non-Voting Preferred Stock, at any time at the option of the holder. The shares of Founder Voting Preferred Stock had no expiration date.

Each share of Founder Voting Preferred Stock was reclassified into 1.219391493 shares of Series B Common Stock immediately prior to the completion of the Offering.

Pursuant to a reclassification exempt under Rule 16b-7 of the Securities Exchange Act of 1934, as amended, each share of Common Stock, $0.001 par value per share ("Common Stock"), was reclassified into one share of Series A Common Stock, $0.001 par value per share ("Series A Common Stock"), immediately prior to the completion of the Issuer's initial public offering of Series A Common Stock (the "Offering").

Each share of Series A Preferred Stock converted into one share of Common Stock on a one-for-one basis immediately prior to the completion of the Offering. The shares of Series A Preferred Stock had no expiration date.

These shares are owned directly by KSV Pattern II, LLC ("KSV Pattern II). The managing member of KSV Pattern II is KS Global, and the member of KS Global is K12 Investments. The Reporting Person is a member of K12 Investments. The Reporting Person disclaims beneficial ownership of these securities, except to the extent, if any, of his pecuniary interest therein, and the filing of this Form 4 is not an admission that the Reporting Person is the beneficial owner of these securities for purposes of Section 16 or for any other purpose.

The shares were sold in the Offering pursuant to an underwriting agreement by and among the Issuer, the representatives of the underwriters and the selling stockholders named therein, dated September 18, 2025. The price of $13.02 represents the $14.00 Offering price per share of Series A Common Stock of the Issuer less the underwriting discounts and commissions of $0.98 per share, for shares sold to the underwriters pursuant to the Offering.

These shares are owned directly by the Alder Irrevocable Trust dated December 5, 2019, of which David K. Wright and his spouse, Melanie Alder, are trustees. Each of David K. Wright and Melanie Alder disclaims beneficial ownership of these securities, except to the extent, if any, of their pecuniary interest therein, and the filing of this Form 4 is not an admission that any person is the beneficial owner of these securities for purposes of Section 16 or for any other purpose.

Each share of Series A Preferred Stock converted into one share of Common Stock on a one-for-one basis immediately prior to the completion of the Offering. The shares of Series A Preferred Stock had no expiration date.

Pursuant to a reclassification exempt under Rule 16b-7 of the Securities Exchange Act of 1934, as amended, each share of Common Stock, $0.001 par value per share ("Common Stock"), was reclassified into one share of Series A Common Stock, $0.001 par value per share ("Series A Common Stock"), immediately prior to the completion of the Issuer's initial public offering of Series A Common Stock (the "Offering").

These shares are owned directly by KSV Pattern, LLC ("KSV Pattern"). The managing member of KSV Pattern is KS Global Innovation Partners LLC ("KS Global"), and the member of KS Global is K12 Investments, LLC ("K12 Investments"). The Reporting Person is a member of K12 Investments. The Reporting Person disclaims beneficial ownership of these securities, except to the extent, if any, of his pecuniary interest therein, and the filing of this Form 4 is not an admission that the Reporting Person is the beneficial owner of these securities for purposes of Section 16 or for any other purpose.

Pursuant to a reclassification exempt under Rule 16b-7 of the Securities Exchange Act of 1934, as amended, each share of Common Stock, $0.001 par value per share, was reclassified into one share of Series A Common Stock, $0.001 par value per share, immediately prior to the completion of the Issuer's initial public offering of Series A Common Stock.

Pursuant to a reclassification exempt under Rule 16b-7 of the Securities Exchange Act of 1934, as amended, each share of Common Stock, $0.001 par value per share, was reclassified into one share of Series A Common Stock, $0.001 par value per share, immediately prior to the completion of the Issuer's initial public offering of Series A Common Stock.

Pursuant to a reclassification exempt under Rule 16b-7 of the Securities Exchange Act of 1934, as amended, each share of Common Stock, $0.001 par value per share, was reclassified into one share of Series A Common Stock, $0.001 par value per share, immediately prior to the completion of the Issuer's initial public offering of Series A Common Stock.

Pursuant to a reclassification exempt under Rule 16b-7 of the Securities Exchange Act of 1934, as amended, each share of Common Stock, $0.001 par value per share ("Common Stock"), was reclassified into one share of Series A Common Stock, $0.001 par value per share ("Series A Common Stock"), immediately prior to the completion of the Issuer's initial public offering of Series A Common Stock (the "Offering").

These shares are owned directly by KSV Pattern II, LLC ("KSV Pattern II). The managing member of KSV Pattern II is KS Global, and the member of KS Global is K12 Investments. The Reporting Person is a member of K12 Investments. The Reporting Person disclaims beneficial ownership of these securities, except to the extent, if any, of his pecuniary interest therein, and the filing of this Form 4 is not an admission that the Reporting Person is the beneficial owner of these securities for purposes of Section 16 or for any other purpose.

Each share of Series B Common Stock is convertible into one share of Series A Common Stock at the option of the holder at any time. Each share of Series B Common Stock will automatically convert into one share of Series A Common Stock upon certain transfers and the occurrence of certain events described in the Issuer's amended and restated certificate of incorporation.

Each share of Founder Voting Preferred Stock was reclassified into 1.219391493 shares of Series B Common Stock immediately prior to the completion of the Offering.

David K. Wright's spouse, Melanie Alder, is a director and the Chief Strategy Officer of the Issuer.

Pursuant to a reclassification exempt under Rule 16b-7 of the Securities Exchange Act of 1934, as amended, each share of Common Stock, $0.001 par value per share ("Common Stock"), was reclassified into one share of Series A Common Stock, $0.001 par value per share ("Series A Common Stock"), immediately prior to the completion of the Issuer's initial public offering of Series A Common Stock (the "Offering").

Each share of Series A Preferred Stock converted into one share of Common Stock on a one-for-one basis immediately prior to the completion of the Offering. The shares of Series A Preferred Stock had no expiration date.

These shares are owned directly by KSV Pattern, LLC ("KSV Pattern"). The managing member of KSV Pattern is KS Global Innovation Partners LLC ("KS Global"), and the member of KS Global is K12 Investments, LLC ("K12 Investments"). The Reporting Person is a member of K12 Investments. The Reporting Person disclaims beneficial ownership of these securities, except to the extent, if any, of his pecuniary interest therein, and the filing of this Form 4 is not an admission that the Reporting Person is the beneficial owner of these securities for purposes of Section 16 or for any other purpose.

Pursuant to a reclassification exempt under Rule 16b-7 of the Securities Exchange Act of 1934, as amended, each share of Common Stock, $0.001 par value per share ("Common Stock"), was reclassified into one share of Series A Common Stock, $0.001 par value per share ("Series A Common Stock"), immediately prior to the completion of the Issuer's initial public offering of Series A Common Stock (the "Offering").

The shares were sold in the Offering pursuant to an underwriting agreement by and among the Issuer, the representatives of the underwriters and the selling stockholders named therein, dated September 18, 2025. The price of $13.02 represents the $14.00 Offering price per share of Series A Common Stock of the Issuer less the underwriting discounts and commissions of $0.98 per share, for shares sold to the underwriters pursuant to the Offering.

These shares are owned directly by KSV Pattern, LLC ("KSV Pattern"). The managing member of KSV Pattern is KS Global Innovation Partners LLC ("KS Global"), and the member of KS Global is K12 Investments, LLC ("K12 Investments"). The Reporting Person is a member of K12 Investments. The Reporting Person disclaims beneficial ownership of these securities, except to the extent, if any, of his pecuniary interest therein, and the filing of this Form 4 is not an admission that the Reporting Person is the beneficial owner of these securities for purposes of Section 16 or for any other purpose.

Pursuant to a reclassification exempt under Rule 16b-7 of the Securities Exchange Act of 1934, as amended, each share of Common Stock, $0.001 par value per share, was reclassified into one share of Series A Common Stock, $0.001 par value per share, immediately prior to the completion of the Issuer's initial public offering of Series A Common Stock.

The shares of Series B Preferred Stock converted on a one-for-2.431157114 basis into shares of Common Stock immediately prior to the completion of the Offering. The shares of Series B Preferred Stock had no expiration date.

Pursuant to a reclassification exempt under Rule 16b-7 of the Securities Exchange Act of 1934, as amended, each share of Common Stock, $0.001 par value per share ("Common Stock"), was reclassified into one share of Series A Common Stock, $0.001 par value per share ("Series A Common Stock"), immediately prior to the completion of the Issuer's initial public offering of Series A Common Stock (the "Offering").

These shares are owned directly by KSV Pattern II, LLC ("KSV Pattern II). The managing member of KSV Pattern II is KS Global, and the member of KS Global is K12 Investments. The Reporting Person is a member of K12 Investments. The Reporting Person disclaims beneficial ownership of these securities, except to the extent, if any, of his pecuniary interest therein, and the filing of this Form 4 is not an admission that the Reporting Person is the beneficial owner of these securities for purposes of Section 16 or for any other purpose.

Immediately prior to the completion of the Issuer's initial public offering of Series A Common Stock (the "Offering"), each share of Common Stock shall be reclassified into one share of Series A Common Stock.

Represents shares of Common Stock withheld by the Issuer in satisfaction of tax withholding obligations in connection with the vesting of restricted stock units previously granted to David K. Wright.

Immediately prior to the completion of the Issuer's initial public offering of Series A Common Stock (the "Offering"), each share of Common Stock shall be reclassified into one share of Series A Common Stock.

Represents shares of Common Stock withheld by the Issuer in satisfaction of tax withholding obligations in connection with the vesting of restricted stock units previously granted to Melanie Alder.

David K. Wright's spouse, Melanie Alder, is a director and the Chief Strategy Officer of the Issuer.

Immediately prior to the completion of the Issuer's initial public offering of Series A Common Stock, each share of Common Stock shall be reclassified into one share of Series A Common Stock.

Represents shares of Common Stock withheld by the Issuer in satisfaction of tax withholding obligations in connection with the vesting of restricted stock units previously granted to the Reporting Person.

Immediately prior to the completion of the Offering, each share of Founder Voting Preferred Stock shall be reclassified into a number of shares of Series B Common Stock, after giving effect to the Founder Preferred Stock Adjustments.

Pursuant to the Issuer's amended and restated certificate of incorporation as in effect as of the transaction date (the "Pre-IPO Charter"), each share of Founder Non-Voting Preferred Stock is convertible into, subject to the Founder Preferred Stock Adjustments, (i) one share of Common Stock or (ii) in contemplation of an Offering, one share of Founder Voting Preferred Stock, at any time at the option of the holder.

Immediately prior to the completion of the Offering, pursuant to the terms of the Pre-IPO Charter, all outstanding shares of Series B Preferred Stock shall automatically convert into a number of shares of Common Stock, after giving effect to certain anti-dilution adjustments dependent on the Offering price. Each share of Series B Preferred Stock shall convert into a number of shares of Series A Common Stock determined by dividing the original issue price of such share by the lesser of (a) the original issue price of such share (subject to certain anti-dilution adjustments) and (b) 50% of the Offering price per share in the Offering (the "Series B Preferred Special Conversion Ratio").

Pursuant to the Pre-IPO Charter, each share of Founder Voting Preferred Stock is convertible into, subject to the Founder Preferred Stock Adjustments, (i) one share of Common Stock or (ii) one share of Founder Non-Voting Preferred Stock, at any time at the option of the holder.

This transaction occurred prior to the Offering and is being reported on Form 4 solely for purposes of compliance with Rule 16a-2(a) under the Securities Exchange Act of 1934, as amended. The securities covered by such transaction were previously included on the Reporting Person's Form 3.

Each share of Founder Non-Voting Preferred Stock converted into one share of Founder Voting Preferred Stock at the option of the holder.