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Investor Presentaiton

American Public University System (APUS) Background Provides affordable, high-quality online post-secondary education to service-minded adult learners #1 Educator of Active-Duty Military #1 Educator of Veterans Approximately 90,000 adult learners from over 90 countries during 2021 Enrollment momentum measured by net course registrations Accredited by: American Public AMU University System APU apei AMERICAN PUBLIC EDUCATION, INC. Focus on High Affordability & Quality Outcomes APUS undergraduate tuition is 30% lower (1) than average 4-year public in-state tuition and fees $0 for books and materials, after grants, for most students since 2001 72% of students graduate with no APUS-incurred student debt Over 116,000 alumni, with 27% returning for a second degree (2) 96% of students (3) said programs met expectations 46% of new students referred (4) by others. 65% of full-time faculty have a terminal degree in their fields ACBSP CCNE ACCREDITED ACCREDITED W CEPH ACCREDITED HUTNY HIGHER LEARNING COMMISSION (1) Source: College Board, IPEDS, and APUS estimates (2) Undergraduates who completed an associate or bachelor's degree in 2021 and returned for a second degree at any level (3) Source: 2021 end of program survey (4) Students starting in 2022
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