Organizational Structure — Pro Forma for Funding of $7 Billion. All figures are rounded.
Principals
Knowledge Universe Holdings LLC, a Delaware limited lability company
Knowledge Universe Learning Group LLC, a Delaware limited liability company “KULG” Investors 900 Class B
Shares Knowledge Universe Education LLC,
a Delaware limited liability company “KUE LLC”
1,000,000 Class A Shares 1,530,000 —— = ClassA UE
Shares
11% Profits Participation Interest Limited Partner”
41,530,000 Common LP Units
Approx. 1,000 General Partner Units
1,000,000 Common LP Units
17.9% to 40.0%"
KU Education Inc “KUE Inc.”
Knowledge Schools, Inc.
Knowledge Learning Corporation “KLC”
" KUE owns preferred stock that is convertible into 17.9% of k12's Common Stock. KUE’s ownership varies depending on the liquidation value or sale value of k12 and according to the preference of the various securities KUE owns. At higher valuations, KUE’s percentage ownership is lower.
See “k12 Inc. (k12) — k12 Equity.” * Of those Profits Participation LP Units outstanding immediately after the offering, 2/11ths will be allocated or held for the benefit of persons other
than the Principals or their affiliates.
A
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