Investor Presentaiton

Appendix: Enrollment and Registration Summary APUS Registrations Total Rasmussen Enrollment 4Q 2021 4Q 2020 % Change 86,600 88,400 -2% 17,100 17,700 -3% Rasmussen Nursing Enrollment 8,700 8,000 8% Rasmussen Non-Nursing Enrollment 8,400 9,700 -13% HCN Enrollment 2,510 2,140 17% apei AMERICAN PUBLIC EDUCATION, INC. 12

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