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Investor Presentaiton

APEI: Building a National Nursing Platform to Address Chronic Issue Chronic Nursing Shortfall BLS annual job projections: ☐ RNs: 9% increase from 2020 to 2030; 195k annual openings □ PNs: 9% increase from 2020 to 2030; 61k annual openings More than 40% of nursing population is age 55+ Healthcare systems experiencing depressed margins on elevated temporary and overtime labor costs APEI's curriculum gets new LPNs to work in as little as 15 months and new RNs to work in as little as 2.5 years. Significant barriers to entry exist due to regulatory, state board, and accreditation requirements; clinical partnership needs; and physical campus locations needed in pre-licensure space Hondros Rasmussen APEI's Nursing Platform Current Campuses Future Campuses apei AMERICAN PUBLIC EDUCATION, INC. 30 campuses $204MM in revenue¹ 1.Pro forma trailing twelve months 12/31/21 APEI's Full Nursing Curriculum Ladder Post-Licensure Online Pre-Licensure Campus, online Doctor of Nursing Practice (DNP) Family Nurse Practitioner (Masters) 2022 Master of Science in Nursing (MSN) RN to MSN RN to BSN Accelerated (ABSN) and Traditional (BSN) Bachelor of Science in Nursing Associate Degree Nurse (RN) Direct Entry Associate Degree Nurse (RN) Practical Nursing Diploma (LPN) RU APUS HCN ✓ Laddered program that encompasses nursing education lifecycle ✓ RN program has significant enrollment due to market demand ✓ Attractive multiple entry points for diverse populations ✓ 15 additional programs in Allied Health and Healthcare Administration UT 5
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