Phoenix Education Partners PXED

Christopher Lynne has served as our President since March 2023 and will be appointed to serve as our Chief Executive Officer and a member of our board of directors in connection with this offering, following our Corporate Conversion. Mr. Lynne has served as the President and as a Trustee of the University since December 2022 after serving as interim president since June 2022. In his previous role at the University, Mr. Lynne served as Senior Vice President, Chief Financial Officer and Treasurer from 2018 to 2022. Prior to joining the University, Mr. Lynne served as Chief Financial Officer of Cadence Education LLC from 2017 to 2018. Previous roles include Founder and Managing Principal at Transcend Education Group LLC from 2015 to 2016; President and Chief Operating Officer of HotChalk, Inc. from 2014 to 2015; and Executive Vice President, Chief Financial and Operating Officer at Northcentral University from 2010 to 2014. Earlier in his career, he served in several financial leadership roles at Education Management Corporation, including Senior Vice President and Chief Accounting Officer, and as an Audit Manager for Arthur Andersen LLC. Mr. Lynne holds a Bachelor of Science in Accounting from Purdue University and a Master of Business Administration from The University of Chicago Booth School of Business.

Srini Medi has served as Senior Vice President, General Counsel and Secretary of the University since June 2020 and will be appointed to serve as our Chief Legal Officer and Secretary in connection with this offering, following our Corporate Conversion. Prior to joining the University, Mr. Medi served in a number of different legal roles at Bisk Education, Inc. including Associate General Counsel from January 2017 to September 2017, General Counsel from October 2017 to January 2019 and Chief Legal Officer from February 2019 to June 2020. Prior to that, Mr. Medi served as Associate General Counsel at Vantage Hospitality Group, Inc. n/k/a Red Lion Hotel Corporation from January 2016 to December 2017. Earlier in his career, Mr. Medi worked for approximately eight years at Kaplan, Inc., where he led their Commercial Transaction team and served as the lead attorney of Kaplan University, a global provider of higher education and education-related services. Mr. Medi began his legal career at various law firms working in the areas of corporate securities, corporate finance, technology, and real estate. Mr. Medi holds a Bachelor of Business Administration in Accounting, a Master of Business Administration and a Juris Doctorate from the University of Houston.

Blair Westblom has served as our Chief Financial Officer and Treasurer since March 2023 and as the Chief Financial Officer and Treasurer of the University since January 2023. While at the University, Ms. Westblom has also held the role of Vice President, Financial Planning & Analysis from 2014 to 2022 and as Director of Finance, with multiple promotions and responsibility expansions, from February 2010 to 2014. Prior to joining the University, Ms. Westblom served in various finance leadership roles in the biotechnology industry including Senior Group Controller, Commercial Finance at Genentech and Associate Director, Finance at Elan Pharmaceuticals. Earlier in her career, Ms. Westblom served as Financial Analyst at Thomas Weisel Partners Investment Bank and Analyst at Healthcare Realty Trust. Ms. Westblom holds a Bachelor of Arts in Economics and a minor in Business Administration from Vanderbilt University.

On July 9, 2026, Robert Brackenbury was appointed to the Board of Directors of Phoenix Education Partners, Inc. as a director. Mr. Brackenbury previously served at the State of Michigan Retirement System from 2010 to 2026, most recently as the Deputy Chief Investment Officer, where he oversaw the investment management of more than $170 billion in combined pension and other state trust fund assets. Mr. Brackenbury also held several senior leadership positions with the State of Michigan Retirement System. Earlier in his career with the State of Michigan, Mr. Brackenbury served as a State Tax Tribunal judge and as an Assistant Attorney General. Mr. Brackenbury spent a decade in senior administrative roles at Eastern Michigan University and serves as an investment committee member for local community foundations in Michigan. Mr. Brackenbury also served as a U.S. Army officer, both on active duty and in the U.S. Army Reserve. Mr. Brackenbury currently serves on the board of directors of Athene Holding Ltd. Mr. Brackenbury holds a Bachelor of Science degree in mathematics and economics and a Master of Arts degree in economics from Eastern Michigan University, a Master of Business Administration degree from the University of Michigan Ross School of Business, and a Juris Doctor degree from Wayne State University Law School. He also completed the Senior Executives in State and Local Government Program at Harvard Kennedy School.

Eric Rizzo has served as Senior Vice President, Government Affairs of the University since November 2019. Prior to joining the University, Mr. Rizzo served as Director, Government Affairs at Mizuho Bank Ltd. from December 2017 to November 2019. Earlier in his career, Mr. Rizzo served as Vice President, Government Affairs Officer at Fifth Third Bancorp from June 2011 to November 2017 and Assistant Vice President, Government Affairs at Farmers Insurance Group from April 2002 to May 2011. Mr. Rizzo began his public policy career as a legislative aide in the U.S. House of Representatives. Mr. Rizzo holds a Bachelor of Science in Marketing and Business Communications from Bentley University.

Itai Wallach will be appointed a member of our board of directors in connection with this offering, following our Corporate Conversion. Itai Wallach is a partner in the Private Equity group of Apollo, which he joined in 2012. Mr. Wallach also currently serves on the board of directors of Arconic and Cengage Group, and previously served on the board of directors of Qdoba Restaurant Corporation from January 2022 to September 2022, McGraw-Hill Education from March 2017 to July 2021, Smart & Final from June 2019 to July 2021, Smart Stores Holding Corp. from April 2019 to April 2020, The Fresh Market from January 2017 to December 2020 and Jacuzzi Brands from February 2017 to February 2019. Prior to joining Apollo, Mr. Wallach was a member of the Financial Sponsors Investment Banking group at Barclays Capital. Mr. Wallach graduated with distinction as an Ivey scholar from the Richard Ivey School of Business at the University of Western Ontario with a B.A. in Honors Business Administration.

Steven Gross has served as Chief Marketing Officer of the University since August 2019. Prior to joining the University, Mr. Gross served as Chief Executive Officer of Calvert Education from February 2015 to July 2019. Earlier in his career, Mr. Gross served as Divisional Global Chief Marketing officer at Pearson and he served in several marketing leadership roles at Lexis Nexis, Arch Wireless and Pepsi. Mr. Gross holds a Bachelor of Arts in Economics and Political Science from State University of New York at Albany and a Master of Business Administration from The Wharton School of the University of Pennsylvania.

Ruth Veloria has served as Chief Strategy and Customer Officer of the University since September 2017. While at the University, Ms. Veloria has also held other roles such as Executive Dean, School of Business from September 2014 until September 2017 and Senior Vice President of Student Experience from September 2011 until September 2014. Prior to joining the University, Ms. Veloria served as Chief of Staff to the President and Chief Operating Officer of AEG from June 2009 to September 2011. Earlier in her career, Ms. Veloria served as Vice President, Strategy and Vice President, Call Center Operations for Charles Schwab & Co. and various roles at strategic consulting firms such as Booz Allen and Hamilton and the Boston Consulting Group. Ms. Veloria holds a Bachelor of Arts in Chemistry from New College at the University of Oxford in the U.K. and a Master of Business Administration in Finance, Marketing and Organizational Behavior from the Kellogg School of Management at Northwestern University.

Adnan A. Nisar will be appointed a member of our board of directors in connection with this offering, following our Corporate Conversion. Mr. Nisar is a Senior Partner and Co-Head of Knowledge and Learning Solutions at The Vistria Group having joined at its inception in 2013. Prior to joining Vistria, Mr. Nisar was a Senior Associate at Mubadala Development Company in Abu Dhabi from 2011 to 2013. Earlier in his career, Mr. Nisar worked at M3 Capital Partners. Mr. Nisar currently serves on the boards of directors of (i) Risepoint, a leading technology-enabled services company that assists institutions of higher education in taking academic programs online, (ii) Unitek Learning, the parent company for five distinguished learning institutions in the areas of healthcare, nursing, and emergency medical services, (iii) Sleep Doctor, a sleep wellness company, (iv) The Gardner School, an early childhood education provider, and (v) Vanta Education, a collection of premier higher education schools located in various international markets. Mr. Nisar holds a Bachelor of Arts in Economics and Finance from Washington University in St. Louis and a Master of Business Administration from The University of Chicago Booth School of Business.

Jamie L. Smith has served as Chief Information Officer of the University since April 2018. Prior to joining the University, Mr. Smith served as Chief Information Officer at ServiceMaster Global Holdings from February 2014 to March 2018. Earlier in his career, Mr. Smith served in a variety of roles in leading organizations such as Nissan, IBM and PriceWaterhouseCoopers LLP. Mr. Smith holds a Bachelor of Arts in Business Administration from Iowa State University.

Johannes Worsoe will be appointed a member of our board of directors in connection with this offering, following our Corporate Conversion. Mr. Worsoe is an alumnus of the University of Phoenix and currently serves as the Chief Financial Officer of Apollo Asset Management, a position he has held since 2022. Prior to joining Apollo, Mr. Worsoe held various positions with Mitsubishi UFJ Financial Group (MUFG) Americas Holdings and its predecessor entities, stretching back to 2001. Most recently, he served as Chief Financial Officer of the Americas from 2016 to 2021 and Americas Head of Investment Banking and Markets from 2013 to 2016. Prior to his time with MUFG, Mr. Worsoe held capital markets, private banking and other investment related roles in Denmark, Spain and the United States. Currently, Mr. Worsoe also serves as the Vice Chair of the board of RoundAbout Theatre Company and as an advisory board member of the Mount Sinai Department of Dermatology. Mr. Worsoe holds a Bachelor of Science in Business Management from the University of Phoenix and a Master of Business Administration from the University of Southern California. He is also a graduate of the Danish Banking School and has attended executive leadership programs at Harvard Business School.

Andrew Bird will be appointed a member of our board of directors in connection with this offering, following our Corporate Conversion. Mr. Bird most recently served as Chief Executive Officer of Pearson plc, a FTSE100 company, from 2020 to 2024 where he led the transformation of the business into the digital and AI age. Prior to his appointment as CEO, Mr. Bird was a member of Pearson's board of directors. Before joining Pearson, Mr. Bird spent 14 years as Chairman of Walt Disney International, where he was responsible for all of the company's activities outside the United States across all business units except Parks & Resorts, from 2004 to 2018. Earlier in his career, Mr. Bird served as President of Turner Broadcasting International from 1993 to 2003, where he oversaw the launch and growth of Turner's entertainment brands, including Cartoon Network, TNT, and TCM, as well as the distribution and sales for CNN International. Mr. Bird has also served as an advisor to His Majesty's Government Department of Business & Trade. In recognition of his services to UK media and entertainment, Mr. Bird was appointed Commander of the Most Excellent Order of the British Empire in the 2012 Queen's Birthday Honours. Mr. Bird received a Bachelor of Arts degree in English language and literature at Newcastle University.

Martin H. Nesbitt is a Trustee of the University and will be appointed a member of our board of directors in connection with this offering, following our Corporate Conversion. Mr. Nesbitt is a Senior Partner, Co-Chairman and Co-Chief Executive Officer of The Vistria Group, having founded the firm in 2013. Prior to founding Vistria, Mr. Nesbitt served as President and Chief Executive Officer of TPS Parking Management, LLC (dba The Parking Spot) from 1998 to 2012. Mr. Nesbitt conceptualized and co-founded The Parking Spot. Previously, Mr. Nesbitt served as an officer of the Pritzker Realty Group, L.P. and an Equity Vice President and Investment Manager at LaSalle Partners. Mr. Nesbitt currently serves on the board of directors of (i) CareMetx, a digital hub platform that focuses on specialty patient treatments, (ii) Help at Home, an innovative program and service to provide in-home care, (iii) Treliant, a consulting firm, (iv) Chewy, Inc., an online source for pet-related necessities, and (v) American Airlines Group, an airline holding company. Mr. Nesbitt is also a Trustee of Chicago's Museum of Contemporary Art, a Trustee of Rush University Medical Center and serves as Chairman of the Barack Obama Foundation. Mr. Nesbitt received a Bachelor of Arts and Honorary Doctorate from Albion College and a Master of Business Administration from The University of Chicago Booth School of Business.

Cheryl Naumann has served as Chief Human Resources Officer of the University since May 2017. Prior to her current role, Ms. Naumann served as Senior Vice President, Human Resources from March 2013 to May 2017. Prior to joining the University, Ms. Naumann's roles included Vice President of Human Resources for AEG, Vice President of Human Resources, North America for Avnet, Inc., and Vice President of Human Resources for the Phoenix Suns and Arizona Diamondbacks. Ms. Naumann holds a Bachelor of Arts in English and a Bachelor of Science in Business Administration from the University of Texas at San Antonio.

Jeffrey Denham will be appointed a member of our board of directors in connection with this offering, following our Corporate Conversion. Mr. Denham currently serves as Senior Policy Director at Dentons, a position he has held since 2022. From 2019 to 2022, Mr. Denham served as Public Policy Director at K&L Gates LLP. Mr. Denham is a former member of the U.S. House of Representatives, having served four terms, from 2011 to 2018, representing California's 10th and formerly 19th districts. As a member of the Transportation and Infrastructure Committee, he served as chairman of the Subcommittee on Railroads, Pipelines, and Hazardous Materials and the Agriculture, Natural Resources, and Veterans' Affairs Committees. From 2002 to 2010, Mr. Denham was a member of the California State Senate, representing the state's 12th District. He was chairman of the Agriculture and Veterans' Affairs Committees and focused on such issues as education, government waste, agriculture, and economic development. Mr. Denham founded Denham Plastics LLC, a full-service provider of plastic material handling solutions in Salinas, CA. A staff sergeant in the U.S. Air Force, Mr. Denham served in Operation Desert Storm with the 452nd Air Force Refueling Wing and was awarded a Meritorious Service Medal, the Kuwait Liberation Medal and various campaign medals for combat duty. Mr. Denham received a Bachelor of Arts in Political Science from California Polytechnic University, San Luis Obispo.

Peter Cohen will be appointed a member of our board of directors in connection with this offering, following our Corporate Conversion. Mr. Cohen has owned an education consulting firm, COWATCO LLC, since February 2022. Previously, Mr. Cohen served as President of the University from May 2017 to January 2022. Prior to that, he was the U.S. Group President for McGraw Hill Education from November 2013 to April 2017, overseeing the company's U.S. K-12 and higher education businesses. Earlier in his career, Mr. Cohen was CEO of Pearson plc's K-12 Schools division in the United States from 2008 to 2013, and served as both President and CEO of Sylvan Learning from 1996 to 2008. Mr. Cohen currently serves as a board member of FullBloom, a provider of K-12 education services, and as a senior advisor to Boston Consulting Group, where he consults on pre-K-12, higher education, and workforce development. He is also a board member and treasurer of Education Week, a leading education information publication, and serves on the boards of Carnegie Learning, a provider of K-12 education products and services, and Primrose Schools, an early childhood education provider. In addition, Mr. Cohen is the board chair of Teachers of Tomorrow, a K-12 teacher certification and training organization. Mr. Cohen is a graduate of the University of Redlands, where he earned his Bachelor of Arts in Business.

Raghu Krishnaiah has served as Chief Operating Officer of the University since October 2015. Prior to joining the University, Mr. Krishnaiah served as Chief Operating Officer at Western Governors University. Earlier in his career, Mr. Krishnaiah served as Senior Vice President at Kaplan Higher Education Group and has held senior leadership roles in global financial services, management consulting and business services organizations. Mr. Krishnaiah holds both a Bachelor of Science in Electrical Engineering and Computer Science and a Master of Science in Electrical Engineering from the Massachusetts Institute of Technology and a Master of Business Administration from The Wharton School of the University of Pennsylvania.

John Sizer will be appointed a member of our board of directors in connection with this offering, following our Corporate Conversion. Until 2020, Mr. Sizer was a Partner at Deloitte & Touche LLP, having worked for the firm for nearly 37 years. Mr. Sizer is a Certified Public Accountant in the state of Arizona and prior to retiring from Deloitte & Touche LLP was an audit partner to public companies and higher education companies. Currently, Mr. Sizer is a board member of Stearns Bank, N.A., a privately held bank based in Minnesota. He also serves on the boards of the Arizona Hispanic Chamber of Commerce and Aguila Youth Leadership Institute, a not-for-profit organization in Arizona. Mr. Sizer received a Bachelor's Degree in Accounting from Arizona State University.

Theodore Kwon is a Trustee of the University and will be appointed a member and Chairman of our board of directors in connection with this offering, following our Corporate Conversion. Mr. Kwon is a Partner of Apollo having joined in 2015. Prior to joining Apollo, Mr. Kwon was a Vice President at Angelo, Gordon & Co. from 2012 to 2015. Prior thereto, Mr. Kwon worked at Weston Presidio and was a member of the Mergers & Acquisitions group at Citigroup. Mr. Kwon also serves on the board of directors of Vanta Education, a collection of premier higher education schools located in various international markets, Apollo Enterprise Strategies, a global services company that provides business critical solutions to Apollo's strategic origination platforms, and the investment committee and oversight committee of Apollo Aligned Alternatives, a leading semi-liquid private markets fund with over 23 billion in diversified assets. Mr. Kwon previously served on the board of directors of The Fresh Market, a specialty grocery business with 166 stores located predominantly in the Southeastern U.S, and Tegra Global, a sportswear apparel manufacturer in the Western Hemisphere. Mr. Kwon is also a non-profit board director of The Korea Society. Mr. Kwon graduated with a Bachelor of Science in Economics and a Master of Business Administration from The Wharton School of the University of Pennsylvania.

John Woods has served as Chief Academic Officer and Provost of the University since January 2018. Prior to joining the University, Dr. Woods served as Chief Academic Officer of Education Corporation of America Inc. from December 2014 to December 2017. Earlier in his career, Dr. Woods served in several roles, such as Dean, Adjunct Faculty Member and Chief Academic Officer, at various companies that focused on adult education. Dr. Woods holds both a Bachelor of Arts and a Master of Arts from Carleton University and a PhD in Higher Education Administration from Bowling Green State University.

Mr. Jeffrey Charles Honaker, Prior to joining the University, Westblom held finance and controller leadership roles at Genentech, a subsidiary of Roche, which is a 259 billion pharmaceuticals and diagnostics business in Europe, North America, and Asia. She also served as a financial analyst at Thomas Weisel Partners, a subsidiary of Stifel Financial, a 6 billion financial holding company that provides retail and institutional wealth management and investment banking services. Blair is a graduate of Vanderbilt University where she earned a Bachelor of Arts degree in Economics and a minor in Business Administration. Honaker has been named the University's Chief Accounting Officer (CAO) and Controller. In this role, Honaker reports to the Chief Financial Officer. Honaker joined the University in 2008 as Manager of Financial Reporting before transitioning to the role of Controller where he became responsible for leading several Finance functions. Honaker's elevation to the CAO role reflects his level of expertise in all aspects of accounting. Prior to joining the University of Phoenix, he worked in the assurance practice at Ernst & Young. Honaker earned a Bachelor of Science in Accounting with the University of Southern California.