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Ref IMAGES-007-HOUSE_OVERSIGHT_024433.txt Release House Oversight Committee — Epstein Estate Records (Nov 2025) 1 pages

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Table of Contents 1. EXECUTIVE SUMMARY 19 2. SUMMARY TERMS OF THE TRANSACTION 27 3. USE OF PROCEEDS 39 4. CAPITALIZATION 40 5. SUMMARY FINANCIAL DATA ~ 42 6. RISK FACTORS 44 7. DISTRIBUTION POLICY 60 8. INDUSTRY OVERVIEW 61 9. KNOWLEDGE UNIVERSE EDUCATION (“KUE”) 73 10. MANAGEMENT’S DISCUSSION AND ANALYSIS OF KLC’s PRO FORMA RESULTS OF OPERATIONS 75 11. THE OPERATING COMPANY (“KLC OPCO”) 82 12. THE REAL ESTATE COMPANY (“KLC PROPCO”) 100 13. k12 INC. (“k12”) 106 14. THE STRUCTURE OF KUE AND THE GENERAL PARTNER 115 15. MANAGEMENT INCENTIVE PLANS AND EMPLOYMENT AGREEMENTS 131 16. RELATED PARTY TRANSACTIONS 133 17. ELIGIBLE INVESTORS 136 18. CERTAIN INCOME TAX CONSEQUENCES 140 19. APPENDICES 146 HOUSE_OVERSIGHT_024433

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