LAUREATE EDUCATION, INC. — Director's Dealing 2021

Nov 2, 2021

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: LAUREATE EDUCATION, INC. (LAUR)
CIK: 0000912766
Period of Report: 2021-10-28

Reporting Person: Wengen Alberta, LP (10% Owner)
Reporting Person: Wengen Investments LTD (10% Owner)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2021-10-28	Class A Common Stock	C	48062109	—	Acquired	48062109	Direct
2021-10-28	Class A Common Stock	J	48062109	—	Disposed	0	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2021-10-28	Class B Common Stock	$	C	48062109	Disposed		Class A Common Stock (48062109)	Direct

Footnotes

F1: Represents the number of shares that were acquired upon conversion of Class B Common Stock ("Class B Common Stock") of Laureate Education, Inc. (the "Issuer") to Class A Common Stock of the Issuer ("Class A Common Stock").

F2: Upon distribution of shares of Class B Common Stock, previously indirectly beneficially owned (for purposes of Section 16) by certain investors through ownership of limited partnership interests in Wengen Alberta, Limited Partnership ("Wengen"), upon redemption of such limited partnership interests, such shares of Class B Common Stock automatically converted into shares of Class A Common Stock on a one-for-one basis (the "Distribution").

F3: Each share of Class B Common Stock is convertible into one share of Class A Common Stock upon the election of the holder or upon transfer, subject to the terms of the Issuer's Amended and Restated Certificate of Incorporation.

F4: An aggregate of 48,062,109 shares of Class B Common Stock converted automatically into 48,062,109 shares of Class A Common Stock in the Distribution.

F5: Represents shares held directly by Wengen. Wengen Investments Limited ("Wengen GP") is the general partner of Wengen. Certain investors, including, but not limited to, certain investment funds and other persons affiliated with or managed by Kohlberg Kravis Roberts & Co. L.P., CPV Partners, LLC, Sterling Fund Management, LLC and Snow Phipps Group, LLC (collectively, the "Wengen Investors"), have interests in the Issuer through Wengen. Each of the Wengen GP and the holders of interests in Wengen (including the Wengen Investors) disclaims beneficial ownership of the securities held by Wengen except to the extent of its pecuniary interest therein.