Exhibit 99.1

American Public Education Reports Second Quarter 2023 Results

CHARLES TOWN, WV (August 08, 2023) – American Public Education, Inc. (Nasdaq: APEI) announced financial results for the quarter ended June 30, 2023.

Second Quarter Highlights:

“APEI delivered second quarter adjusted EBITDA above our expectations and revenue at the high end of our expectations. APUS, Hondros, and Graduate School USA continue to show strong growth in both registrations or enrollment and corresponding revenue. Additionally, we have seen some continued improvement in our Rasmussen online enrollments during the last few quarters and have continued to focus on student outcomes, where meaningful progress on NCLEX scores was made in key jurisdictions during the second quarter 2023,” said Angela Selden, President and Chief Executive Officer of APEI.

Financial Results:

Three months ended June 30, 2023 compared to three months ended June 30, 2022:

Balance Sheet and Liquidity:

Registrations and Enrollment:

1APUS Net Course Registrations represents the approximate aggregate number of courses for which students remain enrolled after the date by which they may drop a course without financial penalty. Excludes students in doctoral programs.

2Rasmussen Total Student Enrollment represents students in an active status as of the full-term census or billing date

3HCN Total Student Enrollment represents the approximate number of students enrolled in a course after the date by which students may drop a course without financial penalty.

Third Quarter 2023 Outlook:

The following statements are based on APEI’s current expectations. These statements are forward-looking and actual results may differ materially. APEI undertakes no obligation to update publicly any forward-looking statements for any reason unless required by law. Refer to APEI’s earnings conference call and presentation for further details.

Non-GAAP Financial Measures:

This press release contains the non-GAAP financial measures of EBITDA (earnings before interest, taxes, depreciation, and amortization) and adjusted EBITDA (EBITDA less non-cash expenses such as stock compensation and non-recurring expenses). APEI believes that the use of these measures is useful because they allow investors to better evaluate APEI’s operating profit and cash generation capabilities.

For the three months ended June 30, 2023 and 2022, adjusted EBITDA excludes non-cash compensation expense, loss on disposals of long-lived assets, and M&A-related professional fees.

These non-GAAP measures should not be considered in isolation or as an alternative to measures determined in accordance with generally accepted accounting principles in the United States (GAAP). The principal limitation of our non-GAAP measures are that they exclude expenses that are required by GAAP to be recorded. In addition, non-GAAP measures are subject to inherent limitations as they reflect the exercise of judgment by management about which expenses are excluded.

APEI is presenting EBITDA and adjusted EBITDA in connection with its GAAP results and urges investors to review the reconciliation of EBITDA and adjusted EBITDA to the comparable GAAP financial measures that is included in the tables following this press release (under the captions “GAAP Net Income to Adjusted EBITDA,” and “GAAP Outlook Net Income to Outlook Adjusted EBITDA”) and not to rely on any single financial measure to evaluate its business.

Webcast:

A live webcast of the APEI’s second quarter 2023 earnings conference call will be held today at 5:00 p.m. Eastern Time. This webcast will be open to listeners who log in through the APEI’s investor relations website, www.apei.com.

A replay of the live webcast will also be available starting approximately one hour after the conclusion of the live webcast. The replay will be archived and available to listeners through APEI’s investor relations website for one year.

About American Public Education

American Public Education, Inc. (Nasdaq: APEI), through its institutions American Public University System (APUS), Rasmussen University, Hondros College of Nursing, and Graduate School USA (GSUSA), provides education that transforms lives, advances careers, and improves communities.

APUS, which operates through American Military University and American Public University, is the leading educator to active-duty military and veteran students* and serves approximately 89,300 adult learners worldwide via accessible and affordable higher education.

Rasmussen University is a 120-year-old nursing and health sciences-focused institution that serves approximately 13,900 students across its 22 campuses in six states and online. It also has schools of Business, Technology, Design, Early Childhood Education and Justice Studies.

Hondros College of Nursing focuses on educating pre-licensure nursing students at eight campuses (six in Ohio, one in Indiana, and one in Michigan). It is the largest educator of PN (LPN) nurses in the state of Ohio** and serves approximately 3,000 total students. Graduate School USA is a leading training provider to the federal workforce with an extensive portfolio of government agency customers. It serves the federal workforce through customized contract training (B2G) to federal agencies and through open enrollment (B2C) to government professionals.

Both APUS and Rasmussen are institutionally accredited by the Higher Learning Commission (HLC), an institutional accreditation agency recognized by the U.S. Department of Education. Hondros is accredited by the Accrediting Bureau of Health Education Schools (ABHES). GSUSA is accredited by the Accrediting Council for Continuing Education & Training (ACCET). For additional information, visit www.apei.com.

*Based on FY 2019 Department of Defense tuition assistance data, as reported by Military Times and Veterans Administration student enrollment data as of 2023.

**Based on information compiled by the National Council of State Boards of Nursing and Ohio Board of Nursing.

Forward Looking Statements

Statements made in this press release regarding APEI or its subsidiaries that are not historical facts are forward-looking statements based on current expectations, assumptions, estimates and projections about APEI and the industry. In some cases, forward-looking statements can be identified by words such as “anticipate,” “believe,” “seek,” “could,” “estimate,” “expect,” “intend,” “may,” “plan,” “should,” “will,” “would,” and similar words or their opposites. Forward-looking statements include, without limitation, statements regarding expected growth, registration and enrollments, revenues, income and adjusted EBITDA and EBITDA, benefits of the acquisition of Rasmussen University and plans with respect to recent, current and future initiatives.

Forward-looking statements are subject to risks and uncertainties that could cause actual results to differ materially from those expressed or implied by such statements. Such risks and uncertainties include, among others, risks related to: APEI’s dependence on the effectiveness of its ability to attract students who persist in its institutions’ programs; changing market demands; APEI’s inability to effectively market its institutions’ programs; APEI’s inability to maintain strong relationships with the military and maintain course registrations and enrollments from military students; the loss or disruption of APEI’s ability to receive funds under tuition assistance programs or the reduction, elimination, or suspension of tuition assistance; adverse effects of changes APEI makes to improve the student experience and enhance the ability to identify and enroll students who are likely to succeed; APEI’s need to successfully adjust to future market demands by updating existing programs and developing new programs; APEI’s failure to comply with regulatory and accrediting agency requirements and to maintain institutional accreditation and the impacts of any actions APEI may take to prevent or correct such failure; APEI’s loss of eligibility to participate in Title IV programs or ability to process Title IV financial aid; economic and market conditions and changes in interest rates; difficulties involving acquisitions; the Company’s indebtedness and preferred stock; APEI’s dependence on and the need to continue to invest in its technology infrastructure; the inability to recognize the intended benefits of APEI’s cost savings efforts; and the various risks described in the “Risk Factors” section and elsewhere in APEI’s Quarterly Report on Form 10-Q for the period ended June 30, 2023 and Annual Report on Form 10-K for the year ended December 31, 2022, and in other filings with the SEC. You should not place undue reliance on any forward-looking statements. APEI undertakes no obligation to update publicly any forward-looking statements for any reason, unless required by law, even if new information becomes available or other events occur in the future.

Contacts:

Ryan Koren

AVP, Investor Relations & Corporate Development

(610) 428-7376

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1. Corporate and Other includes tuition and contract training revenue earned by GSUSA and the elimination of intersegment revenue for courses taken by employees of one segment at other segments.

1. Corporate and Other includes tuition and contract training revenue earned by GSUSA and the elimination of intersegment revenue for courses taken by employees of one segment at other segments.

GAAP Net Income to Adjusted EBITDA:

The following table sets forth the reconciliation of the Company’s reported GAAP net income to the calculation of adjusted EBITDA for the three months ended June 30, 2023 and 2022:

GAAP Outlook Net Income to Outlook Adjusted EBITDA:

The following table sets forth the reconciliation of the Company’s outlook GAAP net income to the calculation of outlook adjusted EBITDA for the three months ending September 30, 2023:

Exhibit 99.2

American Public Education, Inc.

Second Quarter 2023 Results August 8, 2023 PRESENTED BY Angela Selden President and CEO Richard Sunderland, CPA Executive VP and CFO Safe Harbor Statement Statements made in this presentation regarding American Public Education, Inc. or its subsidiaries (“APEI” or the “Company”) tha t are not historical facts are forward - looking statements based on current expectations, assumptions, estimates and projections about APEI and the industry. In some cases, forward - looking statements can be identified by words such as “anticipate,” “believe,” “seek,” “could,” “estimate,” “expect,” “intend,” “may,” “plan,” “should,” “will,” “would,” “potentially,” and similar words or their opposites. Forward - looki ng statements include, without limitation, statements regarding expectations for growth, registration, enrollments, revenues, net income, earnings p er share, EBITDA and Adjusted EBITDA, and plans with respect to and future impacts of recent, current and future initiatives. Forward - looking statements are subject to risks and uncertainties that could cause actual results to differ materially from thos e expressed or implied by such statements. Such risks and uncertainties include, among others, risks related to: APEI’s dependence on the ef fec tiveness of its ability to attract students who persist in its institutions’ programs, the inability to effectively market the Company’s prog ram s or expand into new markets, the loss or disruption of the Company’s ability to receive funds under tuition assistance programs or the reduction, el imination, or suspension of tuition assistance, the inability to maintain enrollments from military students, effects of changes the Compan y m akes to improve the student experience and enhance the ability to identify and enroll students who are likely to succeed, the inability to ad jus t to future market demands, continued strong competition in the education market, failure to comply with regulatory and accrediting agency requi rem ents or to maintain institutional accreditation and the impacts of any actions the Company may take to prevent or correct such failure, the impact of recent regulatory rulemakings, the loss of eligibility to participate in Title IV programs or ability to process Title IV financial aid , economic and market conditions and changes in interest rates, difficulties involving business combinations and acquisitions, the Company’s indebt edn ess and preferred stock, dependence on and the need to continue to invest in the Company’s technology infrastructure, inability to re cog nize the intended benefits of the Company’s cost savings efforts, inability to attract, retain, and develop skilled personnel, impacts of changes in management, and the risk factors described in the risk factor section and elsewhere in the Company’s annual report on Form 10 - K and in the Company’s other SEC filings. You should not place any undue reliance on any forward - looking statements. The Company undertakes n o obligation to update publicly any forward - looking statements for any reason, unless required by law, even if new information bec omes available or other events occur in the future.

2Q23 Executive Summary 3 ▪ APEI delivered revenue of $ 147.2 million, at the high end of guidance ▪ Net loss available to common of $(52.7) million and EPS per diluted common share of $(2.93) ▪ Excluding non - cash impairments, net loss available to common of $(4.5) million and EPS per diluted share of $(0.25), both above guidance ranges ▪ APEI exceeded Adjusted EBITDA guidance for 2Q23, delivering $8.8 million or by 38% ▪ 2Q23 Positive enrollment momentum continued at APUS, HCN, GSUSA, RU Online ▪ Significant NCLEX - RN improvements in 2Q23 at RU and HCN ▪ 3Q23 positive enrollment momentum, driven by RU Online and HCN • RU non - nursing +5% enrollment • HCN: +17% vs prior year period ▪ With new leadership in place, RU initiatives are gaining traction • Right - sizing cost structure to align expenses with current revenue profile 1) Adjusted EBITDA (earnings before interest, taxes, depreciation, and amortization less non - recurring expenses, such as severance, and non - cash expenses, such as stock compensation) is a non - GAAP financial measure. Refer to appendix for GAAP to non - GAAP reconciliation.

Education Unit Updates

Key Take - Aways Guidance Summary 10% - 8% - 8% - 2% 1% 1% 3% 1% 2% 6% 7% 1Q21 2Q21 3Q21 4Q21 1Q22 2Q22 3Q22 4Q22 1Q23 2Q23 3Q23 APUS Registrations APUS Summary 5 *Note: 3Q23 reflects mid - point of registration guidance □ Overall margin expansion due to higher enrollments + modest price increase + improved marketing efficiencies □ Continued positive enrollment growth driven by military (+9.9%) and veteran students □ Growth with veterans leads to positive long - term contribution □ 3Q23 Registration guidance of +6% to +8% (90,600 to 92,500 registrations) Guidance Period * Hondros Summary 6 □ 14 consecutive quarters of yr / yr enrollment growth □ 3Q23 enrollment guidance is approximately 2,800 (+17% vs. 3Q22) □ 2Q23 EBITDA was positive □ Hondros NCLEX - RN scores significantly improved 2,270 2,380 2,300 2,500 2,460 2,440 2,410 2,600 2,700 3,000 2,800 45% 36% 19% 17% 8% 3% 4% 4% 10% 22% 17% 1Q21 2Q21 3Q21 4Q21 1Q22 2Q22 3Q22 4Q22 1Q23 2Q23 3Q23 HCN Total Enrollment Total HCN YOY % Change

Rasmussen Summary 7 □ Permanent leadership in place; 12 of 16 new to role □ Reducing reliance on ADN program in enrollment capped markets by enrolling students in other approved nursing and allied health programs □ Efforts to improve outcomes gaining traction in 3Q23 □ Significant 2Q23 NCLEX - RN improvements at 14 campuses □ Positive total 3Q23 start – only second in two years □ RU Online fourth consecutive quarter of YoY enrollment growth □ Initiated further cost savings to right size costs to revenue levels 17,300 17,000 16,300 17,100 16,200 15,900 15,000 15,600 14,300 13,900 13,500 5% 8% - 1% - 3% - 6% - 6% - 8% - 9% - 12% - 13% - 10% 1Q21 2Q21 3Q21 4Q21 1Q22 2Q22 3Q22 4Q22 1Q23 2Q23 3Q23 Rasmussen Total Enrollment Total Ras Enrollment YOY % Change Operating Income ($ in millions) 1Q22 2Q22 3Q22 4Q22 1Q23 2Q23 APUS 13.2$ 13.6$ 12.5$ 19.1$ 17.1$ 18.9$ Margin 18% 19% 18% 26% 23% 26% Rasmussen 0.9$ (146.6)$ (7.9)$ (13.0)$ (12.9)$ (77.3)$ Margin 1% -229% -13% -21% -22% -149% Hondros (1.0)$ (0.6)$ (1.4)$ (1.0)$ (1.3)$ (0.2)$ Margin -9% -5% -12% -8% -10% -2% Graduate School (1.6)$ (1.7)$ 1.6$ (0.0)$ (1.4)$ 0.7$ Margin -50% -39% 20% 0% -27% 9% Corporate (6.3)$ (6.0)$ (5.9)$ (5.4)$ (6.9)$ (7.4)$ Consolidated Operating Income 5.2$ (141.3)$ (1.0)$ (0.3)$ (5.4)$ (65.3)$ (+) Goodwill & intangible impairments -$ 144.9$ -$ 2.0$ -$ 64.0$ Consolidated Adj.

APEI Financial Results

Operating Income 5.2$ 3.6$ (1.0)$ 1.7$ (5.4)$ (1.3)$ Margin 3% 2% -1% 1% -4% -1% Education Unit Operating Income and Margin Profile 9 Notes: See note 9 to the financial statements included in the 2Q23 10Q. Reflects income (loss) from operations before interest, inco me taxes, and gain (loss) from acquisitions. 1 Rasmussen includes a non - cash impairment of $144.9M in 2Q22 and $64M in 2Q23.

2 Graduate School and Corporate combined comprise the Corporate & Other segment 2 1 2 EBITDA ($ in millions) 1Q22 2Q22 3Q22 4Q22 1Q23 2Q23 APUS 14.9 15.2 14.1 20.6 18.5 20.2 Margin 20% 22% 21% 28% 25% 28% Rasmussen 7.0 4.5 (1.9) (5.0) (6.9) (7.1) Margin 10% 7% -3% -8% -12% -14% Hondros (0.8) (0.4) (1.1) (0.7) (1.0) 0.1 Margin -7% -3% -10% -6% -8% 1% Graduate School (1.4) (1.6) 1.8 0.1 (1.3) 0.8 Margin -46% -36% 22% 2% -24% 11% Corporate (6.3) (6.0) (5.9) (5.4) (6.9) (7.4) Consolidated EBITDA 13.3 11.8 7.0 9.6 2.4 6.7 (+) Adjustments 4.0 2.8 2.5 5.8 4.6 2.1 Consolidated Adj. EBITDA 17.3 14.6 9.5 15.4 7.0 8.8 Margin 11% 10% 6% 10% 5% 6% Education Unit EBITDA and Margin Profile 10 600 basis point improvement in margin driven by higher enrollments, select price increases, lower marketing costs and lower G&A expenses EBITDA decline and margin contraction driven by impact of lower enrollments, especially nursing, on RU’s fixed operating cost structure Increased scale and improved cost control delivering positive EBITDA and margin in 2Q23 Higher enrollments and contract business driving margin expansion over its large fixed cost base Note: See note 9 to the financial statements included in the 2Q23 10Q. Reflects income (loss) from operations before interest, inco me taxes, gain (loss) from acquisitions, + depreciation & amortization Please refer to slide 15 and appendix for GAAP to non - GAAP reconciliation 1 Rasmussen excludes a non - cash impairment of $144.9M in 2Q22 and $64M in 2Q23. 2 Graduate School and Corporate combined comprise the Corporate & Other segment, as discussed in footnote 9 within the 2Q23 10Q di sclosure.

2 1 2 Revenue Summary by Education Unit 1 Graduate School includes nominal amount of corporate revenue eliminations 11 APEI Revenue » 3 of 4 Units delivering solid revenue growth » Accelerating growth at APUS, HCN and GSUSA » RU revenue declined due primarily to lower nursing enrollments in capped markets ($ in millions) 2Q22 2Q23 % Change 1H22 1H23 % Change 69.9$ 73.6$ 5% 143.0$ 147.5$ 3% 63.9$ 52.0$ -19% 131.0$ 109.4$ -16% 11.5$ 14.3$ 24% 23.0$ 27.4$ 19% 4.3$ 7.4$ 71% 7.3$ 12.5$ 71% 149.6$ 147.2$ -2% 304.4$ 296.9$ -2% 1 Capitalization & Liquidity 12 (1) Includes effective interest rate, net of hedge, for Term Loan and represents the annualized YTD 2Q23 amount for Preferred Equity ($ in millions) 12/31/2022 6/30/2023 Cash 129$ 139$ (-) Restricted cash (27) (27) Unrestricted cash 103$ 113$ Term Loan (principal) 99$ 99$ Revolver, drawn - - Total Debt 99$ 99$ Cash (net of debt) 3$ 14$ Preferred equity 40$ 40$

These statements are based on current expectations. These statements are forward - looking and actual results may differ materially. (1) APUS Net course registrations represent the approximate aggregate number of courses for which students remain enrolled after the date by which they may drop a course without financial penalty. (2) HCN and Rasmussen student enrollment represents the total number of students enrolled in a course after the date by which stu den ts may drop a course without financial penalty. (3) Please refer to Appendix for GAAP to Non - GAAP reconciliation APEI’s 3Q23 Outlook 13 Third Quarter 2023 Guidance Full Year 2021 Guidance (Approximate) (% Yr/Yr Change) APUS Net course registrations 1 90,500 to 92,500 6% to 8% HCN Student enrollment 2 2,800 17% RU Student enrollment 2 13,500 -10% - Nursing 5,700 -25% - Non-Nursing 7,700 5% ($ in millions except EPS) APEI Consolidated revenue $148.3 to $150.3 -1% to +1% APEI Net loss available to common stockholders -$5.7 to -$4.3 n.m. APEI Adjusted EBITDA 3 $8.4 to $10.4 -11% to 10% APEI Diluted EPS -$0.32 to -$0.24 n.m.

Thank You

Education Unit Overview – Operating Income to EBITDA Reconciliation (1) See note 9 to the financial statements in the 2Q23 10Q. Reflects income (loss) from operations before interest, income taxes, an d gain / (loss) from acquisition. 15 Corporate + APEI Revenue ($ in millions) 1Q22 2Q22 3Q22 4Q22 1Q23 2Q23 Revenue 73.1 69.9 68.7 73.4 74.0 73.6 Operating Income (1) 13.2 13.6 12.5 19.1 17.1 18.9 (+) D&A 1.7 1.6 1.6 1.5 1.4 1.3 EBITDA 14.9 15.2 14.1 20.6 18.5 20.2 EBITDA Margin 20.4% 21.8% 20.5% 28.1% 25.0% 27.5% Revenue 67.1 63.9 61.5 60.7 57.5 52.0 Operating Income (1) 0.9 (146.6) (7.9) (13.0) (12.9) (77.3) (+) D&A 6.1 6.2 6.0 6.0 5.9 6.2 (+) Impairment / Other - 144.9 - 2.0 - 64.0 EBITDA 7.0 4.5 (1.9) (5.0) (6.9) (7.1) EBITDA Margin 10.4% 7.1% -3.1% -8.3% -12.1% -13.6% Revenue 11.5 11.5 11.4 12.6 13.1 14.3 Operating Income (1) (1.0) (0.6) (1.4) (1.0) (1.3) (0.2) (+) D&A 0.2 0.2 0.2 0.3 0.3 0.3 EBITDA (0.8) (0.4) (1.1) (0.7) (1.0) 0.1 EBITDA Margin -6.7% -3.3% -10.0% -5.8% -7.7% 0.6% Revenue 3.0 4.3 7.8 5.7 5.1 7.4 Operating Income (1) (7.9) (7.7) (4.3) (5.4) (8.3) (6.7) (+) D&A 0.1 0.2 0.1 0.1 0.1 0.1 EBITDA (7.7) (7.6) (4.1) (5.2) (8.1) (6.6) Revenue 154.7 149.6 149.5 152.4 149.7 147.2 Operating Income (1) 5.2 (141.3) (1.0) (0.3) (5.4) (65.3) (+) D&A 8.1 8.1 8.0 7.9 7.8 8.0 (+) Impairment / Other - 144.9 - 2.0 - 64.0 EBITDA 13.3 11.8 7.0 9.6 2.4 6.7 EBITDA Margin 8.6% 7.9% 4.7% 6.3% 1.6% 4.5% (+) Adjustments 4.0 2.8 2.5 5.8 4.6 2.1 Adjusted EBITDA 17.3 14.5 9.5 15.4 7.0 8.8 Adjusted EBITDA Margin 11.2% 9.7% 6.3% 10.1% 4.7% 6.0% Enrollment and Registration Summary 16 2Q 2023 2Q 2022 % Change APUS Registrations 88,300 83,500 6% Total Rasmussen Enrollment 13,900 15,900 -12% Rasmussen Nursing Enrollment 6,400 8,200 -22% Rasmussen Non-Nursing Enrollment 7,500 7,700 -3% HCN Enrollment 3,000 2,440 22%

American Public Education is presenting adjusted EBITDA in connection with its GAAP results and urges investors to review the reconciliation of adjusted net income to the comparable GAAP financial measure that is included in the table below (under the caption “GAAP Net Income to Adjusted EBITDA”) and not to rely on any single financial measure to evaluate its business . Disclosures 17 GAAP Net Income to Adjusted EBITDA: (in thousands, except per share data) Net loss available to common shareholders $ (52,719) $ (110,029) $ (59,916) $ (104,696) Preferred stock dividends 1,487 - 2,944 - Net loss $ (51,232) $ (110,029) $ (56,972) $ (104,696) Income tax benefit (15,137) (35,332) (16,551) (34,292) Interest expense 1,097 3,390 2,876 6,745 Equity investment loss 4 6 9 11 Depreciation and amortization 7,953 8,119 15,709 16,267 EBITDA (57,315) (133,846) (54,929) (115,965) Impairment of goodwill and intangible assets 64,000 144,900 64,000 144,900 Adjustment to gain on acquisition - 705 - (3,828) Stock Compensation 2,068 2,350 4,292 4,706 Loss on disposals of long-lived assets 32 (9) 33 784 M&A - related professional - 437 - 1,273 Transition services - - 2,403 - Adjusted EBITDA $ 8,785 $ 14,537 $ 15,799 $ 31,870 Six Months Ended June 30, 2023 2022 The following table sets forth the reconciliation of the Company’s reported GAAP net income to the calculation of adjusted EBITDA for the three months ended June 30, 2023 and 2022: Three Months Ended June 30, 2023 2022 American Public Education is presenting adjusted EBITDA in connection with its GAAP outlook and urges investors to review the reconciliation of projected adjusted net income to the comparable GAAP financial measure that is included in the table below (under the caption “GAAP Outlook Net Income to Outlook Adjusted EBITDA”) and not to rely on any single financial measure to evaluate its business . Disclosures (continued) 18 GAAP Outlook Net Income to Outlook Adjusted EBITDA: (in thousands, except per share data) Net loss available to common stockholders $ (5,681) $ (4,281) Preferred dividends 1,488 1,488 Net loss (4,193) (2,793) Income tax benefit (1,797) (1,197) Interest expense 2,555 2,555 Depreciation and amortization 7,222 7,222 EBITDA 3,787 5,787 Stock compensation 1,796 1,796 Severance expense 2,800 2,800 Adjusted EBITDA $ 8,383 $ 10,383 The following table sets forth the reconciliation of the Company’s outlook GAAP net income to the calculation of outlook adjusted EBITDA for the three months ending September 30, 2023: Three Months Ending September 30, 2023 Low High