Higher Ground EducationWho We Are and Next Steps

Early Education:An Incredibly Ripe Opportunity

The early education market has explosive growth potential.• A highly fragmented, mom-and-pop market with thousands of acquisition opportunities over the

next decade• Approx. 5000 existing Montessori schools, and additional 20,000 traditional early

childcare centers that could be transitioned to Montessori• Fueled by widespread cultural recognition of the importance of early childhood education,

percolating down from decades of robust research• Demand for quality through the roof, particularly in urban metropolises, with no one capable of

addressing programmatic barriers to entry, challenges of executing on small real estate footprints, and professional customer service demand by sophisticated clientele

• Lack of expert operators means that the winning team can quickly gain significant market share• Not many early education companies exist, but those that do are going for 10x to 12x multiples

despite mediocre performance

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The Higher Ground Team: A Proven Track Record

Prior to forming Higher Ground Education, the team operated and expanded LePort Schools, a national network of premium Montessori schools.• Achieved enrollment of 2,500+ students• Programs for 3 months old through 8th grade, offering premium Montessori-inspired education

with in-demand elements such as language immersion • Operated in high end of

market, with tuition rangingfrom $15,000 to $35,000

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The Higher Ground Team: A Proven Track Record (continued)

A track record of rapid growth:• Starting from 3 Montessori schools in

Southern California, HGE team transformed organization into a national chain of 22 Montessori schools in 5 years

• Five-year enrollment CAGR over 40%

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Prior Enrollment Growth

Includes 13 aligned and seasons executives with proven skills across school operations, HR, marketing, expansion, construction, finance—and a difficult to replicate world class academic team with strong reputation in Montessori and early education space.

The Higher Ground Team: Integrating Business and Academics

Ray GirnFounder & CEO

Guy BarnettChief Development Officer

Jane Erickson, Ph.D.Chief Programs Officer

Lindsay JournoExecutive Program

Developer

Maris MendesDirector of Operations

Mitch MichulkaDirector of Finance

Elan WalsheDirector of Construction &

Real Estate Development

Chris AlexanderBrand Designer

Rebecca GirnGeneral Counsel

Matt Bateman, Ph.D.Director of Content

Cornelia LockitchDirector of Prepared

Environments

Nicole St. PierreDirector of Talent

Mark BorisonDirector of Expansion

Hany SyedAdvisor, Business

Development & Expansionpage 5

The PlanHigher Ground is developing a full stack educational platform for running great schoolsat scale:• An expansion model that allows for rapid growth. Includes:

• Leveraging insider network to access high volume of great greenfield and school acquisition opportunities

• A non-dilutive capital model that attracts a broader range of off-balance sheet investors• A technology-enabled operational system that enables HGE to operate thriving, high

quality schools through superior pedagogy, facilities, marketing, and customer service• Scalable, revolutionary, accredited teacher training that attracts and amplifies the best

teaching talent in education

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Expansion: Three Kinds of Opportunity• Stable/cash flow positive schools: thousands of schools available at 4x to 5x EBIDTA, with

significant improvement potential• Schools in crisis: distressed schools in high end demographic areas which could be acquired

for nothing (or less than nothing), and turned around by the right team. HGE is seasoned at these transitions, both in program implementation and change management

• Greenfields: incredible demand in urban areas for those that can truly offer premium quality education by addressing programmatic challenges in early childhood education, and the challenge of the cost and availability of real estate. HGE has the ability to efficiently open schools with a small footprint, which is another competitive advantage

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Expansion: Management Company/School Company Partnership Strategy

HGE has opportunity to develop a Marriott model for the Montessori/early education market, in which it manages brands for investors and executes a roll-up strategy:

• HGE provides management, brand, and a complete set of operational resources, taking full responsibility for implementing a quality school program, in exchange for a management fee

• Investors own School (asset) Companies, putting up capital in exchange for cash flows• HGE will guarantee a buyout of School Co from investor at 20% IRR after 5 years• Investors also have an opportunity to separately own underlying real estate, with turn-key

acquisition, long-term lease at attractive cap rates

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Expansion: Partnership Model OverviewMANAGEMENT FEES:School Co to pay HGE:

5% of revenue and 10% of EBITDA

MANAGEMENT:HGE to manage all operational and financial aspects of the

acquired schools on behalf of School Co

HGE to acquire within 5 years

School Co to own 100% initially

ACQUIRED SCHOOLS

Higher Ground Education

Management Company

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REAL ESTATE

Investors

School Company

Real Estate investorscontinue to own

underlying real estate even if HGE acquires

School Co

The HGE School PlatformWhether transitioning an acquisition or establishing a new school, management ensures the complete implementation of its program. HGE provides:

• A professional management team in an industry dominated by individual amateur operators• Best-in-class Montessori program oversight

from six-week- to six-year-olds, optimized tofoster motor development, socialdevelopment, independence and grit, andcore academic skills

• Premium, seamlessly integrated languageimmersion offerings

• Recruiting, staffing and training for both theadministration and the faculty. HGE isuniquely positioned to capitalize on a wide,international network of Montessori educatorsand providers

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The HGE School Platform (continued)• New branding: HGE will create and establish a targeted brand suitable to the market, e.g.

• Operational systems for all aspects of school operations, from admissions to billing to human resources to student information

• A complete marketing protocol, from initial analysis and validation of the school opportunity, to an integrated set of marketing resources, events, tour training, analytics, etc.

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The HGE School Platform (continued) :HGE Impact on Education

HGE’s Montessori programs feature developmentally optimized learning environments.The classrooms house striking, effective curricular materials that enable children to learn core academic skills—and to do so independently, in a way that nurtures the child’s curiosity and fosters her self-discipline.HGE’s programs thus combine the best features of classical and progressive education, affording young children joyous learning of truly foundational knowledge.

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The HGE School Platform (continued) :HGE Impact on Education

The Montessori pedagogy offers the foundation of a truly enduring alternative approach to education. Just to scratch the surface:• Montessori students, by the age of six, have typically mastered writing sentences and reading

challenging storybooks• Montessori students, by the age of six, have conceptual and practical facility with the decimal

system, including all four basic operations up to multiple digits• Montessori classrooms are mixed age with a difference of up to three years, deliberately

providing students with a rich social environment in which they can learn from each other• Montessori has a tremendous emphasis on independence and work ethic, providing students

with long periods of uninterrupted concentration without the assistance of a teacher, and building in “practical life”, complex practical personal routines, into the core curriculum

• HGE’s innovative elementary and middle school programs continue the Montessori spirit of independent inquiry into foundational knowledge

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What’s Next?Higher Ground Education has been in existence since March 2016. Our team is currently:

• Establishing relationships and gaining critical mind share in the Montessori world, setting us up to leverage and consolidate the large, fragmented international Montessori movement. Management partnerships have been established with reputable training centers, and top Montessori thought leaders and advocates have begun referring inquiries and business development opportunities. (These relationships are unique and entrenched.)

• Establishing a relationship with a REIT real estate partner which will invest in real estate and improvements to real estate.

• Entering into an agency agreement with EB-5 agent(s) in China proven to deliver EB-5 investors to school projects.

• Entering into negotiations to manage up to 20 school sites beginning in the fall

Higher Ground Education was founded to take our accomplishments to the next level. To facilitate even greater growth and innovation, we’re:

• Developing a strategy to transform our platform of operational systems into a technology platform, delivered via comprehensive software services.

• Developing an school company/management company structure that institutionalizes a growth strategy fueled by non-dilutive capital, and opens up a broader range of possible management opportunities with schools.

• Actively pursuing opportunities for further development of our academic programs, including our upper elementary and middle school programs, as well as partnerships with Montessori-inspired high school operators.

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Thank You

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Contacts

Ray GirnChief Executive Officerrgirn@tohigherground.com

+1 949 689 7854

Hany SyedAdvisor for Business Development& Expansionhsyed@tohigherground.com

+1 650 471 4631