PXED

The stock options granted under The University of Phoenix, Inc. Management Equity Plan (the "University Equity Plan") were exercised by the Reporting Person because such stock options were scheduled to expire prior to the expiration of certain restrictions on transfer of the Issuer's common stock by the Reporting Person, as previously disclosed in connection with the Issuer's initial public offering. The Reporting Person remains subject to such restrictions, which will expire on October 8, 2026. No shares of the Issuer's common stock were sold by the Reporting Person in connection with this transaction.

The stock options granted under The University of Phoenix, Inc. Management Equity Plan (the "University Equity Plan") were exercised by the Reporting Person because such stock options were scheduled to expire prior to the expiration of certain restrictions on transfer of the Issuer's common stock by the Reporting Person, as previously disclosed in connection with the Issuer's initial public offering. The Reporting Person remains subject to such restrictions, which will expire on October 8, 2026. No shares of the Issuer's common stock were sold by the Reporting Person in connection with this transaction.

Consists of restricted stock units granted under the Phoenix Education Partners, Inc. 2025 Omnibus Incentive Plan (the "Omnibus Incentive Plan") that will vest and become shares of the Issuer's common stock in accordance with the following: (i) 1/3 of such units shall vest on October 8, 2026, and (ii) the remaining 2/3 of such units shall vest in eight equal installments on each three-month anniversary thereafter over two years.

Consists of restricted stock units granted under the Phoenix Education Partners, Inc. 2025 Omnibus Incentive Plan that will vest on the earlier of: (i) the date of the annual meeting of stockholders the year following the grant date or (ii) the first anniversary of the grant date, subject to the director's continued service on the board of directors through such vesting date.

Consists of restricted stock units granted under the Phoenix Education Partners, Inc. 2025 Omnibus Incentive Plan that will vest on the earlier of: (i) the date of the annual meeting of stockholders the year following the grant date or (ii) the first anniversary of the grant date, subject to the director's continued service on the board of directors through such vesting date.

Consists of restricted stock units granted under the Phoenix Education Partners, Inc. 2025 Omnibus Incentive Plan that will vest on the earlier of: (i) the date of the annual meeting of stockholders the year following the grant date or (ii) the first anniversary of the grant date, subject to the director's continued service on the board of directors through such vesting date.

Consists of restricted stock units granted under the Phoenix Education Partners, Inc. 2025 Omnibus Incentive Plan that will vest on the earlier of: (i) the date of the annual meeting of stockholders the year following the grant date or (ii) the first anniversary of the grant date, subject to the director's continued service on the board of directors through such vesting date.

Consists of restricted stock units granted under the Phoenix Education Partners, Inc. 2025 Omnibus Incentive Plan that will vest on the earlier of: (i) the date of the annual meeting of stockholders the year following the grant date or (ii) the first anniversary of the grant date, subject to the director's continued service on the board of directors through such vesting date.

Reflects shares of the Issuer sold by TVG-I-E-AEG Holdings, LP (the "Vistria Stockholder") pursuant to the underwriters' overallotment option in connection with the Issuer's initial public offering.

This Form 4 reflects shares of the Issuer held directly by the Vistria Stockholder. Vistria-AEG GP, LLC ("Vistria GP") is the general partner of the Vistria Stockholder and Adnan A. Nisar is the sole manager of Vistria GP. The Vistria Group, LP ("Vistria LP") is the sole member of Vistria GP. The Vistria Group, LLC is the general partner of Vistria LP and Harreld N. Kirkpatrick III and Martin H. Nesbitt are the sole members of The Vistria Group, LLC. The Reporting Person may be deemed to have voting and dispositive control of the shares of the Issuer's common stock held by the Vistria Stockholder.

The Reporting Person disclaims beneficial ownership of the reported securities, except to the extent of such Reporting Person's pecuniary interest therein, if any. The filing of this statement shall not be deemed an admission by the Reporting Person of beneficial ownership of the reported securities.

Reflects shares of the Issuer sold by TVG-I-E-AEG Holdings, LP (the "Vistria Stockholder") pursuant to the underwriters' overallotment option in connection with the Issuer's initial public offering.

This Form 4 reflects shares of the Issuer held directly by the Vistria Stockholder. Vistria-AEG GP, LLC ("Vistria GP") is the general partner of the Vistria Stockholder and Adnan A. Nisar is the sole manager of Vistria GP. The Vistria Group, LP ("Vistria LP") is the sole member of Vistria GP. The Vistria Group, LLC is the general partner of Vistria LP and Harreld N. Kirkpatrick III and Martin H. Nesbitt are the sole members of The Vistria Group, LLC. The Reporting Person may be deemed to have voting and dispositive control of the shares of the Issuer's common stock held by the Vistria Stockholder.

The Reporting Person disclaims beneficial ownership of the reported securities, except to the extent of such Reporting Person's pecuniary interest therein, if any. The filing of this statement shall not be deemed an admission by the Reporting Person of beneficial ownership of the reported securities.

Reflects shares of the Issuer sold by the Reporting Person pursuant to the underwriters' overallotment option in connection with the Issuer's initial public offering.

This Form 4 reflects shares of the Issuer held directly by TVG-I-E-AEG Holdings, LP (the "Vistria Stockholder"). Vistria-AEG GP, LLC ("Vistria GP") is the general partner of the Vistria Stockholder and Adnan A. Nisar is the sole manager of Vistria GP. The Vistria Group, LP ("Vistria LP") is the sole member of Vistria GP. The Vistria Group, LLC is the general partner of Vistria LP and Harreld N. Kirkpatrick III and Martin H. Nesbitt are the sole members of The Vistria Group, LLC. Messrs. Kirkpatrick, Nesbitt and Nisar each may be deemed to have voting and dispositive control of the shares of the Issuer's common stock held by the Vistria Stockholder. Messrs. Kirkpatrick, Nesbitt and Nisar disclaim beneficial ownership of the reported securities, except to the extent of their pecuniary interest therein, if any.

The Reporting Person disclaims beneficial ownership of the reported securities, except to the extent of such Reporting Person's pecuniary interest therein, if any. The filing of this statement shall not be deemed an admission by the Reporting Person of beneficial ownership of the reported securities.

See Exhibit 99.1.

See Exhibit 99.1.

See Exhibit 99.1.

See Exhibit 99.1.

Reflects shares of the Issuer sold by TVG-I-E-AEG Holdings, LP (the "Vistria Stockholder") in connection with the Issuer's initial public offering.

This Form 4 reflects shares of the Issuer held directly by the Vistria Stockholder. Vistria-AEG GP, LLC ("Vistria GP") is the general partner of the Vistria Stockholder and Adnan A. Nisar is the sole manager of Vistria GP. The Vistria Group, LP ("Vistria LP") is the sole member of Vistria GP. The Vistria Group, LLC is the general partner of Vistria LP and Harreld N. Kirkpatrick III and Martin H. Nesbitt are the sole members of The Vistria Group, LLC. The Reporting Person may be deemed to have voting and dispositive control of the shares of the Issuer's common stock held by the Vistria Stockholder.

The Reporting Person disclaims beneficial ownership of the reported securities, except to the extent of such Reporting Person's pecuniary interest therein, if any. The filing of this statement shall not be deemed an admission by the Reporting Person of beneficial ownership of the reported securities.

Reflects shares of the Issuer sold by TVG-I-E-AEG Holdings, LP (the "Vistria Stockholder") in connection with the Issuer's initial public offering.

This Form 4 reflects shares of the Issuer held directly by the Vistria Stockholder. Vistria-AEG GP, LLC ("Vistria GP") is the general partner of the Vistria Stockholder and Adnan A. Nisar is the sole manager of Vistria GP. The Vistria Group, LP ("Vistria LP") is the sole member of Vistria GP. The Vistria Group, LLC is the general partner of Vistria LP and Harreld N. Kirkpatrick III and Martin H. Nesbitt are the sole members of The Vistria Group, LLC. The Reporting Person may be deemed to have voting and dispositive control of the shares of the Issuer's common stock held by the Vistria Stockholder.

The Reporting Person disclaims beneficial ownership of the reported securities, except to the extent of such Reporting Person's pecuniary interest therein, if any. The filing of this statement shall not be deemed an admission by the Reporting Person of beneficial ownership of the reported securities.

Reflects shares of the Issuer sold by the Reporting Person in connection with the Issuer's initial public offering.

This Form 4 reflects shares of the Issuer held directly by TVG-I-E-AEG Holdings, LP (the "Vistria Stockholder"). Vistria-AEG GP, LLC ("Vistria GP") is the general partner of the Vistria Stockholder and Adnan A. Nisar is the sole manager of Vistria GP. The Vistria Group, LP ("Vistria LP") is the sole member of Vistria GP. The Vistria Group, LLC is the general partner of Vistria LP and Harreld N. Kirkpatrick III and Martin H. Nesbitt are the sole members of The Vistria Group, LLC. Messrs. Kirkpatrick, Nesbitt and Nisar each may be deemed to have voting and dispositive control of the shares of the Issuer's common stock held by the Vistria Stockholder. Messrs. Kirkpatrick, Nesbitt and Nisar disclaim beneficial ownership of the reported securities, except to the extent of their pecuniary interest therein, if any.

The Reporting Person disclaims beneficial ownership of the reported securities, except to the extent of such Reporting Person's pecuniary interest therein, if any. The filing of this statement shall not be deemed an admission by the Reporting Person of beneficial ownership of the reported securities.

Consists of stock options granted under The University of Phoenix, Inc. Management Equity Plan (the "University Equity Plan") that became exercisable for shares of the Issuer's common stock in connection with the closing of the IPO.

Consists of stock options granted under The University of Phoenix, Inc. Management Equity Plan (the "University Equity Plan") that became exercisable for shares of the Issuer's common stock in connection with the closing of the Issuer's initial public offering (the "IPO").

Consists of restricted stock units granted under the Phoenix Education Partners, Inc. 2025 Omnibus Incentive Plan that will vest and become exercisable for shares of the Issuer's common stock on the date of the 2026 annual meeting of shareholders, subject to the Reporting Person's continued membership on the board of directors of the Issuer or any of its affiliates through such date.

Consists of (i) 5,629 stock options granted under the University Equity Plan that became exercisable for shares of the Issuer's common stock in connection with the closing of the IPO and (ii) 55,973 stock options granted under the University Equity Plan that vest and become exercisable for shares of the Issuer's common stock on the twelve-month anniversary of the closing of the IPO.

Consists of shares of common stock in The University of Phoenix, Inc. held by the Reporting Person that became shares of common stock of the Issuer in connection with the closing of the Issuer's initial public offering (the "IPO").

Consists of stock options granted under The University of Phoenix, Inc. Management Equity Plan (the "University Equity Plan") that became exercisable for shares of the Issuer's common stock in connection with the closing of the Issuer's initial public offering (the "IPO").

Consists of (i) 6,858 stock options granted under the University Equity Plan that became exercisable for shares of the Issuer's common stock in connection with the closing of the IPO and (ii) 54,744 stock options granted under the University Equity Plan that vest and become exercisable for shares of the Issuer's common stock on the twelve-month anniversary of the closing of the IPO.

Consists of shares of common stock in The University of Phoenix, Inc. held by the Reporting Person that became shares of common stock of the Issuer in connection with the closing of the Issuer's initial public offering (the "IPO").

Consists of stock options granted under The University of Phoenix, Inc. Management Equity Plan (the "University Equity Plan") that became exercisable for shares of the Issuer's common stock in connection with the closing of the IPO.

Consists of stock options granted under The University of Phoenix, Inc. Management Equity Plan (the "University Equity Plan") that became exercisable for shares of the Issuer's common stock in connection with the closing of the IPO.

Consists of (i) 16,941 stock options granted under the University Equity Plan that became exercisable for shares of the Issuer's common stock in connection with the closing of the IPO and (ii) 13,860 stock options granted under the University Equity Plan that vest and become exercisable for shares of the Issuer's common stock on the twelve-month anniversary of the closing of the IPO.

Consists of restricted stock units granted under the Phoenix Education Partners, Inc. 2025 Omnibus Incentive Plan (the "Omnibus Incentive Plan") that will vest and become exercisable for shares of the Issuer's common stock in accordance with the following: (i) 1/3 of such units shall vest on the first anniversary of the date of grant and (ii) the remaining 2/3 of such units shall vest in eight?equal installments on each three-month anniversary thereafter over two years.

Consists of stock options granted under The University of Phoenix, Inc. Management Equity Plan (the "University Equity Plan") that became exercisable for shares of the Issuer's common stock in connection with the closing of the IPO.

Consists of stock options granted under The University of Phoenix, Inc. Management Equity Plan (the "University Equity Plan") that became exercisable for shares of the Issuer's common stock in connection with the closing of the IPO.

Consists of restricted stock units granted under the Phoenix Education Partners, Inc. 2025 Omnibus Incentive Plan (the "Omnibus Incentive Plan") that will vest and become exercisable for shares of the Issuer's common stock in accordance with the following: (i) 1/3 of such units shall vest on the first anniversary of the date of grant and (ii) the remaining 2/3 of such units shall vest in eight?equal installments on each three-month anniversary thereafter over two years.

Consists of shares of the Issuer's common stock that were withheld by the Issuer to satisfy tax obligations.

Consists of shares of the Issuer's common stock that were granted to the Reporting Person in connection with the closing of the Issuer's initial public offering (the "IPO").

Consists of stock options granted under The University of Phoenix, Inc. Management Equity Plan (the "University Equity Plan") that became exercisable for shares of the Issuer's common stock in connection with the closing of the IPO.

Consists of stock options granted under The University of Phoenix, Inc. Management Equity Plan (the "University Equity Plan") that became exercisable for shares of the Issuer's common stock in connection with the closing of the IPO.

Consists of stock options granted under The University of Phoenix, Inc. Management Equity Plan (the "University Equity Plan") that became exercisable for shares of the Issuer's common stock in connection with the closing of the IPO.

Consists of shares of common stock in The University of Phoenix, Inc. held by the Reporting Person that became shares of common stock of the Issuer in connection with the closing of the Issuer's initial public offering (the "IPO").

Consists of stock options granted under The University of Phoenix, Inc. Management Equity Plan (the "University Equity Plan") that became exercisable for shares of the Issuer's common stock in connection with the closing of the IPO.

Consists of restricted stock units granted under the Phoenix Education Partners, Inc. 2025 Omnibus Incentive Plan that will vest and become exercisable for shares of the Issuer's common stock on the date of the 2026 annual meeting of shareholders, subject to the Reporting Person's continued membership on the board of directors of the Issuer or any of its affiliates through such date.

Consists of stock options granted under The University of Phoenix, Inc. Management Equity Plan (the "University Equity Plan") that became exercisable for shares of the Issuer's common stock in connection with the closing of the IPO.

Consists of stock options granted under The University of Phoenix, Inc. Management Equity Plan (the "University Equity Plan") that became exercisable for shares of the Issuer's common stock in connection with the closing of the IPO.

Consists of stock options granted under The University of Phoenix, Inc. Management Equity Plan (the "University Equity Plan") that became exercisable for shares of the Issuer's common stock in connection with the closing of the IPO.

Consists of stock options granted under The University of Phoenix, Inc. Management Equity Plan (the "University Equity Plan") that became exercisable for shares of the Issuer's common stock in connection with the closing of the IPO.

Consists of stock options granted under The University of Phoenix, Inc. Management Equity Plan (the "University Equity Plan") that became exercisable for shares of the Issuer's common stock in connection with the closing of the IPO.

Consists of stock options granted under The University of Phoenix, Inc. Management Equity Plan (the "University Equity Plan") that became exercisable for shares of the Issuer's common stock in connection with the closing of the IPO.

Consists of restricted stock units granted under the Phoenix Education Partners, Inc. 2025 Omnibus Incentive Plan (the "Omnibus Incentive Plan") that will vest and become exercisable for shares of the Issuer's common stock in accordance with the following: (i) 1/3 of such units shall vest on the first anniversary of the date of grant and (ii) the remaining 2/3 of such units shall vest in eight equal installments on each three-month anniversary thereafter over two years.