Sec Form 4 Filing - Snow Ian Kendell @ LAUREATE EDUCATION, INC. - 2023-11-14

FORM 4 Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, Section 17(a) of the Public Utility Holding Company Act of 1935 or Section 30(h) of the Investment Company Act of 1940

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1. Name and Address of Reporting Person Snow Ian Kendell 2. Issuer Name and Ticker or Trading Symbol LAUREATE EDUCATION, INC. [ LAUR] 5. Relationship of Reporting Person(s) to Issuer (Check all applicable) X __ Director X __ 10% Owner _____ Officer (give title below) _____ Other (specify below) (Last) (First) (Middle) 545 MADISON AVENUE, 10TH FLOOR 3. Date of Earliest Transaction (MM/DD/YY) 11/14/2023 (Street) NEW YORK, NY10022 4. If Amendment, Date Original Filed (MM/DD/YY) 6. Individual or Joint/Group Filing (Check Applicable Line) _____ Form filed by One Reporting Person __ X __ Form filed by More than One Reporting Person (City) (State) (Zip)

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned 1.Title of Security (Instr. 3) 2. Transaction Date (MM/DD/YY) 2A. Deemed Execution Date, if any (MM/DD/YY) 3. Transaction Code (Instr. 8) 4. Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5) 5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4) 6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4) 7. Nature of Indirect Beneficial Ownership (Instr. 4) Code V Amount (A) or (D) Price Common Stock 11/14/2023 S 36,622 D $ 13.377 ( 1 ) 2,805,213 I See footnote ( 13 ) Common Stock 11/15/2023 S 9,226 D $ 13.3108 ( 2 ) 2,795,987 I See footnote ( 13 ) Common Stock 11/16/2023 S 5,015 D $ 13.2548 ( 3 ) 2,790,972 I See footnote ( 13 ) Common Stock 11/17/2023 S 3,824 D $ 13.2571 ( 4 ) 2,787,148 I See footnote ( 13 ) Common Stock 11/20/2023 S 90 D $ 13.27 2,787,058 I See footnote ( 13 ) Common Stock 11/21/2023 S 18,635 D $ 13.2785 ( 5 ) 2,768,423 I See footnote ( 13 ) Common Stock 11/22/2023 S 24,480 D $ 13.3422 ( 6 ) 2,743,943 I See footnote ( 13 ) Common Stock 11/24/2023 S 11,550 D $ 13.2832 ( 7 ) 2,732,393 I See footnote ( 13 ) Common Stock 11/27/2023 S 23,648 D $ 13.2738 ( 8 ) 2,708,745 I See footnote ( 13 ) Common Stock 11/28/2023 S 985 D $ 13.2586 ( 9 ) 2,707,760 I See footnote ( 13 ) Common Stock 11/29/2023 S 358 D $ 13.2575 ( 10 ) 2,707,402 I See footnote ( 13 ) Common Stock 11/30/2023 S 442 D $ 13.2502 ( 11 ) 2,706,960 I See footnote ( 13 ) Common Stock 12/01/2023 S 18,395 D $ 13.2755 ( 12 ) 2,688,565 I See footnote ( 13 ) Common Stock 12/04/2023 S 179 D $ 13.25 2,688,386 I See footnote ( 13 ) Common Stock 43,589 I See footnote ( 14 ) Common Stock 2,071,339 I See footnote ( 15 )

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned ( e.g. , puts, calls, warrants, options, convertible securities) 1. Title of Derivative Security (Instr. 3) 2. Conversion or Exercise Price of Derivative Security 3. Transaction Date (MM/DD/YY) 3A. Deemed Execution Date, if any (MM/DD/YY) 4. Transaction Code (Instr. 8) 5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4, and 5) 6. Date Exercisable and Expiration Date (MM/DD/YY) 7. Title and Amount of Underlying Securities (Instr. 3 and 4) 8. Price of Derivative Security (Instr. 5) 9. Number of Derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4) 10. Ownership Form of Derivative Security: Direct (D) or Indirect (I) (Instr. 4) 11. Nature of Indirect Beneficial Ownership (Instr. 4) Code V (A) (D) Date Exercisable Expiration Date Title Amount or Number of Shares

Reporting Owners Reporting Owner Name / Address Relationships Director 10% Owner Officer Other Snow Ian Kendell 545 MADISON AVENUE 10TH FLOOR NEW YORK, NY10022 X X Snow Phipps Group, L.P. 545 MADISON AVENUE, 10TH FLOOR NEW YORK, NY10022 X X SPG Co-Investment, L.P. 545 MADISON AVENUE, 10TH FLOOR NEW YORK, NY10022 X X Snow Phipps Group (B), L.P. 545 MADISON AVENUE, 10TH FLOOR NEW YORK, NY10022 X X Snow Phipps Group (Offshore), L.P. 545 MADISON AVENUE, 10TH FLOOR NEW YORK, NY10022 X X Snow Phipps Group (RPV), L.P. 545 MADISON AVENUE, 10TH FLOOR NEW YORK, NY10022 X X Snow Phipps Group, LLC 545 MADISON AVENUE, 10TH FLOOR NEW YORK, NY10022 X X Signatures See Exhibit 99.1 01/05/2024 Signature of Reporting Person Date

Explanation of Responses:

( 1 )This transaction was executed by Wengen Alberta, Limited Partnership ("Wengen") in multiple trades at prices ranging from $13.270 to $13.435 on November 14, 2023. The price reported above reflects the weighted average sale price. The reporting person hereby undertakes to provide upon request to the SEC staff, the issuer or a security holder of the issuer full information regarding the number of shares and prices at which the transaction was effected. ( 2 )This transaction was executed by Wengen in multiple trades at prices ranging from $13.150 to $13.480 on November 15, 2023. The price reported above reflects the weighted average sale price. The reporting person hereby undertakes to provide upon request to the SEC staff, the issuer or a security holder of the issuer full information regarding the number of shares and prices at which the transaction was effected. ( 3 )This transaction was executed by Wengen in multiple trades at prices ranging from $13.250 to $13.265 on November 16, 2023. The price reported above reflects the weighted average sale price. The reporting person hereby undertakes to provide upon request to the SEC staff, the issuer or a security holder of the issuer full information regarding the number of shares and prices at which the transaction was effected. ( 4 )This transaction was executed by Wengen in multiple trades at prices ranging from $13.250 to $13.275 on November 17, 2023. The price reported above reflects the weighted average sale price. The reporting person hereby undertakes to provide upon request to the SEC staff, the issuer or a security holder of the issuer full information regarding the number of shares and prices at which the transaction was effected. ( 5 )This transaction was executed by Wengen in multiple trades at prices ranging from $13.250 to $13.325 on November 21, 2023. The price reported above reflects the weighted average sale price. The reporting person hereby undertakes to provide upon request to the SEC staff, the issuer or a security holder of the issuer full information regarding the number of shares and prices at which the transaction was effected. ( 6 )This transaction was executed by Wengen in multiple trades at prices ranging from $13.270 to $13.415 on November 22, 2023. The price reported above reflects the weighted average sale price. The reporting person hereby undertakes to provide upon request to the SEC staff, the issuer or a security holder of the issuer full information regarding the number of shares and prices at which the transaction was effected. ( 7 )This transaction was executed by Wengen in multiple trades at prices ranging from $13.250 to $13.325 on November 24, 2023. The price reported above reflects the weighted average sale price. The reporting person hereby undertakes to provide upon request to the SEC staff, the issuer or a security holder of the issuer full information regarding the number of shares and prices at which the transaction was effected. ( 8 )This transaction was executed by Wengen in multiple trades at prices ranging from $13.250 to $13.335 on November 27, 2023. The price reported above reflects the weighted average sale price. The reporting person hereby undertakes to provide upon request to the SEC staff, the issuer or a security holder of the issuer full information regarding the number of shares and prices at which the transaction was effected. ( 9 )This transaction was executed by Wengen in multiple trades at prices ranging from $13.250 to $13.275 on November 28, 2023. The price reported above reflects the weighted average sale price. The reporting person hereby undertakes to provide upon request to the SEC staff, the issuer or a security holder of the issuer full information regarding the number of shares and prices at which the transaction was effected. ( 10 )This transaction was executed by Wengen in multiple trades at prices ranging from $13.250 to $13.270 on November 29, 2023. The price reported above reflects the weighted average sale price. The reporting person hereby undertakes to provide upon request to the SEC staff, the issuer or a security holder of the issuer full information regarding the number of shares and prices at which the transaction was effected. ( 11 )This transaction was executed by Wengen in multiple trades at prices ranging from $13.250 to $13.255 on November 30, 2023. The price reported above reflects the weighted average sale price. The reporting person hereby undertakes to provide upon request to the SEC staff, the issuer or a security holder of the issuer full information regarding the number of shares and prices at which the transaction was effected. ( 12 )This transaction was executed by Wengen in multiple trades at prices ranging from $13.250 to $13.330 on December 1, 2023. The price reported above reflects the weighted average sale price. The reporting person hereby undertakes to provide upon request to the SEC staff, the issuer or a security holder of the issuer full information regarding the number of shares and prices at which the transaction was effected. ( 13 )Represents shares of Common Stock held directly by Wengen, whose general partner is Wengen Investments Limited. Certain investors, including, but not limited to, certain investment funds and other persons affiliated with or managed by Sterling Fund Management, LLC, Cohen Private Ventures, LLC and Snow Phipps Group, LLC have interests in the Issuer through Wengen. ( 14 )Snow Phipps Group, LLC, Snow Phipps Group (Offshore), L.P., Snow Phipps Group (B), L.P., Snow Phipps Group, L.P ., and Snow Phipps Group (RPV), L.P. beneficially own such shares indirectly as a result of contractual arrangements with Mr. Snow. Mr. Snow disclaims beneficial ownership of the securities to the extent it exceeds his pecuniary interest therein and the inclusion of the securities in this report shall not be deemed to be an admission of beneficial ownership of the reported securities for the purposes of Section 16 of the Exchange Act or otherwise. ( 15 )Represents shares of Common Stock held directly by SPG GP, LLC, SPG Co-Investment, L.P., Snow Phipps Group (Offshore), L.P., Snow Phipps Group (B), L.P., Snow Phipps Group, L.P., Snow Phipps Group, LLC and Snow Phipps Group (RPV), L.P.

Remarks: Exhibit 99.1 - Joint Filer Information and Signatures, incorporated herein by reference.

Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.

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