<SEC-DOCUMENT>0001104659-21-040463.txt : 20210324
<SEC-HEADER>0001104659-21-040463.hdr.sgml : 20210324
<ACCEPTANCE-DATETIME>20210323203750
ACCESSION NUMBER:		0001104659-21-040463
CONFORMED SUBMISSION TYPE:	SC 13D/A
PUBLIC DOCUMENT COUNT:		1
FILED AS OF DATE:		20210324
DATE AS OF CHANGE:		20210323
GROUP MEMBERS:		WENGEN INVESTMENTS LTD

SUBJECT COMPANY:	

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			LAUREATE EDUCATION, INC.
		CENTRAL INDEX KEY:			0000912766
		STANDARD INDUSTRIAL CLASSIFICATION:	SERVICES-EDUCATIONAL SERVICES [8200]
		IRS NUMBER:				521492296
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		SC 13D/A
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	005-42825
		FILM NUMBER:		21766274

	BUSINESS ADDRESS:	
		STREET 1:		650 S. EXETER STREET
		CITY:			BALTIMORE
		STATE:			MD
		ZIP:			21202
		BUSINESS PHONE:		4108436100

	MAIL ADDRESS:	
		STREET 1:		650 S. EXETER STREET
		CITY:			BALTIMORE
		STATE:			MD
		ZIP:			21202

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	SYLVAN LEARNING SYSTEMS INC
		DATE OF NAME CHANGE:	19930929

FILED BY:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			Wengen Alberta, LP
		CENTRAL INDEX KEY:			0001399590
		IRS NUMBER:				208658661
		STATE OF INCORPORATION:			A0
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		SC 13D/A

	BUSINESS ADDRESS:	
		STREET 1:		C/O LAUREATE EDUCATION, INC.
		STREET 2:		650 SOUTH EXETER STREET
		CITY:			BALTIMORE
		STATE:			MD
		ZIP:			21202
		BUSINESS PHONE:		212-750-8300

	MAIL ADDRESS:	
		STREET 1:		C/O LAUREATE EDUCATION, INC.
		STREET 2:		650 SOUTH EXETER STREET
		CITY:			BALTIMORE
		STATE:			MD
		ZIP:			21202
</SEC-HEADER>
<DOCUMENT>
<TYPE>SC 13D/A
<SEQUENCE>1
<FILENAME>tm2110685d1_sc13da.htm
<DESCRIPTION>SC 13D/A
<TEXT>
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<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="margin: 0"></P>

<!-- Field: Rule-Page --><DIV STYLE="width: 100%"><DIV STYLE="font-size: 1pt; border-top: Black 2pt solid; border-bottom: Black 1pt solid">&nbsp;</DIV></DIV><!-- Field: /Rule-Page -->

<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="font: 14pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>UNITED STATES</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-size: 14pt"><B>SECURITIES AND
EXCHANGE COMMISSIO</B></FONT><B>N</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Washington, D.C. 20549</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 18pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>SCHEDULE 13D</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Under the Securities Exchange Act of 1934</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>(Amendment No. 6)*</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: Black 1pt solid; width: 100%; font-size: 10pt; text-align: center"><FONT STYLE="font-size: 24pt"><B>Laureate Education, Inc.</B></FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="font-size: 10pt; text-align: center"><FONT STYLE="font-size: 10pt">(Name of Issuer)</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: Black 1pt solid; width: 100%; font-size: 10pt; text-align: center"><FONT STYLE="font-size: 10pt"><B>Class A Common Stock, par value $0.004 per share</B></FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="font-size: 10pt; text-align: center"><FONT STYLE="font-size: 10pt">(Title of Class of Securities)</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: Black 1pt solid; width: 100%; font-size: 10pt; text-align: center"><FONT STYLE="font-size: 10pt"><B>518613203</B></FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="font-size: 10pt; text-align: center"><FONT STYLE="font-size: 10pt">(CUSIP Number)</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>William L. Cornog</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>c/o Wengen Alberta, Limited Partnership</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>c/o Laureate Education, Inc.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>650 South Exeter Street</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Baltimore, Maryland 21202</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>with a copy to:</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Mark D. Wood, Esq.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Katten Muchin Rosenman LLP</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>525 W. Monroe Street</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Chicago, Illinois&nbsp; 60661</B></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: Black 1pt solid; width: 100%; font-size: 10pt; text-align: center"><B>Telephone: (312) 902-5493</B></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">(Name, Address and Telephone Number of Person</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">Authorized to Receive Notices and Communications)</P></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: Black 1pt solid; width: 100%; font-size: 10pt; text-align: center"><FONT STYLE="font-size: 10pt"><B>March 18, 2021</B></FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="font-size: 10pt; text-align: center"><FONT STYLE="font-size: 10pt">(Date of Event Which Requires Filing of this Statement)</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">If the filing person has previously filed a statement on Schedule 13G
to report the acquisition that is the subject of this Schedule 13D, and is filing this schedule because &sect;240.13d-1(e), 240.13d-1(f)
or 240.13d-1(g) check the following box. &#9744;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Note</B>: Schedules filed in paper format shall include a signed
original and five copies of the schedule, including all exhibits. See &sect;240.13d-7(b) for other parties to whom copies are to be sent.</P>




<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">* The remainder of this cover page shall be filled out for a reporting
person&#8217;s initial filing on this form with respect to the subject class of securities, and for any subsequent amendment containing
information which would alter disclosures provided in a prior cover page.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">The information required on the remainder of this cover page shall
not be deemed to be &#8220;filed&#8221; for the purpose of Section 18 of the Securities Exchange Act of 1934 (&#8220;<U>Act</U>&#8221;)
or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act (however, see
the Notes).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR>
    <TD COLSPAN="5"><FONT STYLE="font-size: 10pt"><BR STYLE="clear: both">
    CUSIP No.&nbsp;&nbsp; 518613203</FONT></TD>
    <TD COLSPAN="3"><FONT STYLE="font-size: 10pt"><B>13D</B></FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD></TR>
  <TR>
    <TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD ROWSPAN="3" STYLE="border-top: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; padding: 1.5pt; text-align: center"><FONT STYLE="font-size: 10pt"><B>1</B></FONT></TD>
    <TD COLSPAN="4" STYLE="border-top: black 1pt solid; border-left: black 1pt solid; padding: 1.5pt"><FONT STYLE="font-size: 10pt"><B>NAMES
    OF REPORTING PERSONS</B></FONT></TD>
    <TD STYLE="border-top: black 1pt solid; padding: 1.5pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="vertical-align: top; border-top: black 1pt solid; border-right: black 1pt solid; padding: 1.5pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD></TR>
  <TR>
    <TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD COLSPAN="4" ROWSPAN="2" STYLE="border-bottom: black 1pt solid; border-left: black 1pt solid; padding: 1.5pt 1.5pt 1.5pt 2pt"><FONT STYLE="font-size: 10pt">Wengen
    Alberta, Limited Partnership</FONT></TD>
    <TD STYLE="padding: 1.5pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="vertical-align: top; border-right: black 1pt solid; padding: 1.5pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD></TR>
  <TR>
    <TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding: 1.5pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="vertical-align: top; border-right: black 1pt solid; border-bottom: black 1pt solid; padding: 1.5pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD></TR>
  <TR>
    <TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD ROWSPAN="3" STYLE="border-bottom: black 1pt solid; border-left: black 1pt solid; padding: 1.5pt; text-align: center"><FONT STYLE="font-size: 10pt"><B>2</B></FONT></TD>
    <TD COLSPAN="4" STYLE="border-left: black 1pt solid; padding: 1.5pt"><FONT STYLE="font-size: 10pt"><B>CHECK THE APPROPRIATE BOX IF
    A MEMBER OF A GROUP</B></FONT></TD>
    <TD STYLE="padding: 1.5pt; text-align: right"><FONT STYLE="font-size: 10pt">(a)</FONT></TD>
    <TD COLSPAN="2" STYLE="border-right: black 1pt solid; padding: 1.5pt"><FONT STYLE="font-size: 10pt">&#9744;</FONT></TD></TR>
  <TR>
    <TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD COLSPAN="4" ROWSPAN="2" STYLE="border-bottom: black 1pt solid; border-left: black 1pt solid; padding: 1.5pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="padding: 1.5pt; text-align: right"><FONT STYLE="font-size: 10pt">(b)</FONT></TD>
    <TD COLSPAN="2" STYLE="border-right: black 1pt solid; padding: 1.5pt"><FONT STYLE="font-size: 10pt">&#9744;</FONT></TD></TR>
  <TR>
    <TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding: 1.5pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="vertical-align: top; border-right: black 1pt solid; border-bottom: black 1pt solid; padding: 1.5pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD></TR>
  <TR>
    <TD STYLE="background-color: White"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD ROWSPAN="2" STYLE="background-color: White; border-bottom: black 1pt solid; border-left: black 1pt solid; padding: 1.5pt; text-align: center"><FONT STYLE="font-size: 10pt"><B>3</B></FONT></TD>
    <TD COLSPAN="4" STYLE="border-left: black 1pt solid; padding: 1.5pt; background-color: White"><FONT STYLE="font-size: 10pt"><B>SEC
    USE ONLY</B></FONT></TD>
    <TD STYLE="padding: 1.5pt; background-color: White"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="border-right: black 1pt solid; vertical-align: top; padding: 1.5pt; background-color: White"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD></TR>
  <TR>
    <TD STYLE="background-color: White"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD COLSPAN="4" STYLE="border-bottom: black 1pt solid; border-left: black 1pt solid; padding: 1.5pt; background-color: White"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding: 1.5pt; background-color: White"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="border-right: black 1pt solid; vertical-align: top; border-bottom: black 1pt solid; padding: 1.5pt; background-color: White"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD></TR>
  <TR>
    <TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD ROWSPAN="3" STYLE="border-bottom: black 1pt solid; border-left: black 1pt solid; padding: 1.5pt; text-align: center"><FONT STYLE="font-size: 10pt"><B>4</B></FONT></TD>
    <TD COLSPAN="4" STYLE="border-left: black 1pt solid; padding: 1.5pt"><FONT STYLE="font-size: 10pt"><B>SOURCE OF FUNDS (SEE INSTRUCTIONS)</B></FONT></TD>
    <TD STYLE="padding: 1.5pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="vertical-align: top; border-right: black 1pt solid; padding: 1.5pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD></TR>
  <TR>
    <TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD COLSPAN="4" ROWSPAN="2" STYLE="border-bottom: black 1pt solid; border-left: black 1pt solid; padding: 1.5pt 1.5pt 1.5pt 2pt"><FONT STYLE="font-size: 10pt">OO</FONT></TD>
    <TD STYLE="padding: 1.5pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="vertical-align: top; border-right: black 1pt solid; padding: 1.5pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD></TR>
  <TR>
    <TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding: 1.5pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="vertical-align: top; border-right: black 1pt solid; border-bottom: black 1pt solid; padding: 1.5pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD></TR>
  <TR>
    <TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD ROWSPAN="2" STYLE="border-bottom: black 1pt solid; border-left: black 1pt solid; padding: 1.5pt; text-align: center"><FONT STYLE="font-size: 10pt"><B>5</B></FONT></TD>
    <TD COLSPAN="4" STYLE="border-left: black 1pt solid; padding: 1.5pt"><FONT STYLE="font-size: 10pt"><B>CHECK BOX IF DISCLOSURE OF
    LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEM 2(D) OR 2(E)</B></FONT></TD>
    <TD STYLE="padding: 1.5pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="border-right: black 1pt solid; padding: 1.5pt"><FONT STYLE="font-size: 10pt">&#9744;</FONT></TD></TR>
  <TR>
    <TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD COLSPAN="4" STYLE="border-left: black 1pt solid; padding: 1.5pt; border-bottom: black 1pt solid"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding: 1.5pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="vertical-align: top; border-right: black 1pt solid; border-bottom: black 1pt solid; padding: 1.5pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD></TR>
  <TR>
    <TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD ROWSPAN="3" STYLE="border-bottom: black 1pt solid; border-left: black 1pt solid; padding: 1.5pt; text-align: center"><FONT STYLE="font-size: 10pt"><B>6</B></FONT></TD>
    <TD COLSPAN="4" STYLE="border-left: black 1pt solid; padding: 1.5pt"><FONT STYLE="font-size: 10pt"><B>CITIZENSHIP OR PLACE OF ORGANIZATION</B></FONT></TD>
    <TD STYLE="padding: 1.5pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="vertical-align: top; border-right: black 1pt solid; padding: 1.5pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD></TR>
  <TR>
    <TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD COLSPAN="4" ROWSPAN="2" STYLE="border-bottom: black 1pt solid; border-left: black 1pt solid; padding: 1.5pt 1.5pt 1.5pt 2pt"><FONT STYLE="font-size: 10pt">Alberta,
    Canada</FONT></TD>
    <TD STYLE="padding: 1.5pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="vertical-align: top; border-right: black 1pt solid; padding: 1.5pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD></TR>
  <TR>
    <TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding: 1.5pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="vertical-align: top; border-right: black 1pt solid; border-bottom: black 1pt solid; padding: 1.5pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD></TR>
  <TR>
    <TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" ROWSPAN="12" STYLE="border-bottom: black 1pt solid; border-left: black 1pt solid; padding: 1.5pt; text-align: center"><FONT STYLE="font-size: 10pt"><B>NUMBER
    OF <BR>
SHARES<BR>
 BENEFICIALLY <BR>
OWNED BY <BR>
EACH<BR>
 REPORTING <BR>
PERSON WITH</B></FONT></TD>
    <TD ROWSPAN="3" STYLE="border-bottom: black 1pt solid; border-left: black 1pt solid; padding: 1.5pt; text-align: center"><FONT STYLE="font-size: 10pt"><B>7</B></FONT></TD>
    <TD COLSPAN="2" STYLE="border-left: black 1pt solid; padding: 1.5pt"><FONT STYLE="font-size: 10pt"><B>SOLE VOTING POWER</B></FONT></TD>
    <TD STYLE="padding: 1.5pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="vertical-align: top; border-right: black 1pt solid; padding: 1.5pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD></TR>
  <TR>
    <TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" ROWSPAN="2" STYLE="border-bottom: black 1pt solid; border-left: black 1pt solid; padding: 1.5pt 1.5pt 1.5pt 2pt"><FONT STYLE="font-size: 10pt">0</FONT></TD>
    <TD STYLE="padding: 1.5pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="vertical-align: top; border-right: black 1pt solid; padding: 1.5pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD></TR>
  <TR>
    <TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding: 1.5pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="vertical-align: top; border-right: black 1pt solid; border-bottom: black 1pt solid; padding: 1.5pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD></TR>
  <TR>
    <TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD ROWSPAN="3" STYLE="border-bottom: black 1pt solid; border-left: black 1pt solid; padding: 1.5pt; text-align: center"><FONT STYLE="font-size: 10pt"><B>8</B></FONT></TD>
    <TD COLSPAN="2" STYLE="border-left: black 1pt solid; padding: 1.5pt"><FONT STYLE="font-size: 10pt"><B>SHARED VOTING POWER</B></FONT></TD>
    <TD STYLE="padding: 1.5pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="vertical-align: top; border-right: black 1pt solid; padding: 1.5pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD></TR>
  <TR>
    <TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" ROWSPAN="2" STYLE="border-bottom: black 1pt solid; border-left: black 1pt solid; padding: 1.5pt 1.5pt 1.5pt 2pt"><FONT STYLE="font-size: 10pt">86,147,116*</FONT></TD>
    <TD STYLE="padding: 1.5pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="vertical-align: top; border-right: black 1pt solid; padding: 1.5pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD></TR>
  <TR>
    <TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding: 1.5pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="vertical-align: top; border-right: black 1pt solid; border-bottom: black 1pt solid; padding: 1.5pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD></TR>
  <TR>
    <TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD ROWSPAN="3" STYLE="border-bottom: black 1pt solid; border-left: black 1pt solid; padding: 1.5pt; text-align: center"><FONT STYLE="font-size: 10pt"><B>9</B></FONT></TD>
    <TD COLSPAN="2" STYLE="border-left: black 1pt solid; padding: 1.5pt"><FONT STYLE="font-size: 10pt"><B>SOLE DISPOSITIVE POWER</B></FONT></TD>
    <TD STYLE="padding: 1.5pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="vertical-align: top; border-right: black 1pt solid; padding: 1.5pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD></TR>
  <TR>
    <TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" ROWSPAN="2" STYLE="border-bottom: black 1pt solid; border-left: black 1pt solid; padding: 1.5pt 1.5pt 1.5pt 2pt"><FONT STYLE="font-size: 10pt">0</FONT></TD>
    <TD STYLE="padding: 1.5pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="vertical-align: top; border-right: black 1pt solid; padding: 1.5pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD></TR>
  <TR>
    <TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding: 1.5pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="vertical-align: top; border-right: black 1pt solid; border-bottom: black 1pt solid; padding: 1.5pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD></TR>
  <TR>
    <TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD ROWSPAN="3" STYLE="border-bottom: black 1pt solid; border-left: black 1pt solid; padding: 1.5pt; text-align: center"><FONT STYLE="font-size: 10pt"><B>10</B></FONT></TD>
    <TD COLSPAN="2" STYLE="border-left: black 1pt solid; padding: 1.5pt"><FONT STYLE="font-size: 10pt"><B>SHARED DISPOSITIVE POWER</B></FONT></TD>
    <TD STYLE="padding: 1.5pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="vertical-align: top; border-right: black 1pt solid; padding: 1.5pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD></TR>
  <TR>
    <TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" ROWSPAN="2" STYLE="border-bottom: black 1pt solid; border-left: black 1pt solid; padding: 1.5pt 1.5pt 1.5pt 2pt"><FONT STYLE="font-size: 10pt">86,147,116*</FONT></TD>
    <TD STYLE="padding: 1.5pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="vertical-align: top; border-right: black 1pt solid; padding: 1.5pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD></TR>
  <TR>
    <TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding: 1.5pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="vertical-align: top; border-right: black 1pt solid; border-bottom: black 1pt solid; padding: 1.5pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD></TR>
  <TR>
    <TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD ROWSPAN="3" STYLE="border-bottom: black 1pt solid; border-left: black 1pt solid; padding: 1.5pt; text-align: center"><FONT STYLE="font-size: 10pt"><B>11</B></FONT></TD>
    <TD COLSPAN="4" STYLE="border-left: black 1pt solid; padding: 1.5pt"><FONT STYLE="font-size: 10pt"><B>AGGREGATE AMOUNT BENEFICIALLY
    OWNED BY EACH REPORTING PERSON</B></FONT></TD>
    <TD STYLE="padding: 1.5pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="vertical-align: top; border-right: black 1pt solid; padding: 1.5pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD></TR>
  <TR>
    <TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD COLSPAN="4" ROWSPAN="2" STYLE="border-bottom: black 1pt solid; border-left: black 1pt solid; padding: 1.5pt 1.5pt 1.5pt 2pt"><FONT STYLE="font-size: 10pt">86,147,116*</FONT></TD>
    <TD STYLE="padding: 1.5pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="vertical-align: top; border-right: black 1pt solid; padding: 1.5pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD></TR>
  <TR>
    <TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding: 1.5pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="vertical-align: top; border-right: black 1pt solid; border-bottom: black 1pt solid; padding: 1.5pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD></TR>
  <TR>
    <TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD ROWSPAN="3" STYLE="border-bottom: black 1pt solid; border-left: black 1pt solid; padding: 1.5pt; text-align: center"><FONT STYLE="font-size: 10pt"><B>12</B></FONT></TD>
    <TD COLSPAN="4" STYLE="border-left: black 1pt solid; padding: 1.5pt"><FONT STYLE="font-size: 10pt"><B>CHECK BOX IF THE AGGREGATE
    AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES (SEE INSTRUCTIONS)</B></FONT></TD>
    <TD STYLE="padding: 1.5pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="border-right: black 1pt solid; padding: 1.5pt"><FONT STYLE="font-size: 10pt">&#9744;</FONT></TD></TR>
  <TR>
    <TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD COLSPAN="4" ROWSPAN="2" STYLE="border-bottom: black 1pt solid; border-left: black 1pt solid; padding: 1.5pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="padding: 1.5pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="vertical-align: top; border-right: black 1pt solid; padding: 1.5pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD></TR>
  <TR>
    <TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding: 1.5pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="vertical-align: top; border-right: black 1pt solid; border-bottom: black 1pt solid; padding: 1.5pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD></TR>
  <TR>
    <TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD ROWSPAN="3" STYLE="border-bottom: black 1pt solid; border-left: black 1pt solid; padding: 1.5pt; text-align: center"><FONT STYLE="font-size: 10pt"><B>13</B></FONT></TD>
    <TD COLSPAN="4" STYLE="border-left: black 1pt solid; padding: 1.5pt"><FONT STYLE="font-size: 10pt"><B>PERCENT OF CLASS REPRESENTED
    BY AMOUNT IN ROW (11)</B></FONT></TD>
    <TD STYLE="padding: 1.5pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="vertical-align: top; border-right: black 1pt solid; padding: 1.5pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD></TR>
  <TR>
    <TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD COLSPAN="4" ROWSPAN="2" STYLE="border-bottom: black 1pt solid; border-left: black 1pt solid; padding: 1.5pt 1.5pt 1.5pt 2pt"><FONT STYLE="font-size: 10pt">43.79%*</FONT></TD>
    <TD STYLE="padding: 1.5pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="vertical-align: top; border-right: black 1pt solid; padding: 1.5pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD></TR>
  <TR>
    <TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding: 1.5pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="vertical-align: top; border-right: black 1pt solid; border-bottom: black 1pt solid; padding: 1.5pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD></TR>
  <TR>
    <TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD ROWSPAN="2" STYLE="border-bottom: black 1pt solid; border-left: black 1pt solid; padding: 1.5pt; text-align: center"><FONT STYLE="font-size: 10pt"><B>14</B></FONT></TD>
    <TD COLSPAN="4" STYLE="border-left: black 1pt solid; padding: 1.5pt"><FONT STYLE="font-size: 10pt"><B>TYPE OF REPORTING PERSON (SEE
    INSTRUCTIONS)</B></FONT></TD>
    <TD STYLE="padding: 1.5pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="vertical-align: top; border-right: black 1pt solid; padding: 1.5pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD></TR>
  <TR>
    <TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD COLSPAN="4" STYLE="border-bottom: black 1pt solid; border-left: black 1pt solid; padding: 1.5pt 1.5pt 1.5pt 2pt"><FONT STYLE="font-size: 10pt">PN</FONT></TD>
    <TD STYLE="padding: 1.5pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="vertical-align: top; border-right: black 1pt solid; padding: 1.5pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD></TR>
  <TR>
    <TD STYLE="width: 1%"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 6%"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 8%"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 6%"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 29%"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 46%"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 2%"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 1%"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 1%"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">*See Item 5.</P>




<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR>
    <TD COLSPAN="5"><FONT STYLE="font-size: 10pt"><BR STYLE="clear: both">
    CUSIP No.&nbsp;&nbsp; 518613203</FONT></TD>
    <TD COLSPAN="3"><FONT STYLE="font-size: 10pt"><B>13D</B></FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD></TR>
  <TR>
    <TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD ROWSPAN="3" STYLE="border-top: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; padding: 1.5pt; text-align: center"><FONT STYLE="font-size: 10pt"><B>1</B></FONT></TD>
    <TD COLSPAN="4" STYLE="border-top: black 1pt solid; border-left: black 1pt solid; padding: 1.5pt"><FONT STYLE="font-size: 10pt"><B>NAMES
    OF REPORTING PERSONS</B></FONT></TD>
    <TD STYLE="border-top: black 1pt solid; padding: 1.5pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="vertical-align: top; border-top: black 1pt solid; border-right: black 1pt solid; padding: 1.5pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD></TR>
  <TR>
    <TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD COLSPAN="4" ROWSPAN="2" STYLE="border-bottom: black 1pt solid; border-left: black 1pt solid; padding: 1.5pt 1.5pt 1.5pt 2pt"><FONT STYLE="font-size: 10pt">Wengen
    Investments Limited</FONT></TD>
    <TD STYLE="padding: 1.5pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="vertical-align: top; border-right: black 1pt solid; padding: 1.5pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD></TR>
  <TR>
    <TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding: 1.5pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="vertical-align: top; border-right: black 1pt solid; border-bottom: black 1pt solid; padding: 1.5pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD></TR>
  <TR>
    <TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD ROWSPAN="3" STYLE="border-bottom: black 1pt solid; border-left: black 1pt solid; padding: 1.5pt; text-align: center"><FONT STYLE="font-size: 10pt"><B>2</B></FONT></TD>
    <TD COLSPAN="4" STYLE="border-left: black 1pt solid; padding: 1.5pt"><FONT STYLE="font-size: 10pt"><B>CHECK THE APPROPRIATE BOX IF
    A MEMBER OF A GROUP</B></FONT></TD>
    <TD STYLE="padding: 1.5pt; text-align: right"><FONT STYLE="font-size: 10pt">(a)</FONT></TD>
    <TD COLSPAN="2" STYLE="border-right: black 1pt solid; padding: 1.5pt"><FONT STYLE="font-size: 10pt">&#9744;</FONT></TD></TR>
  <TR>
    <TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD COLSPAN="4" ROWSPAN="2" STYLE="border-bottom: black 1pt solid; border-left: black 1pt solid; padding: 1.5pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="padding: 1.5pt; text-align: right"><FONT STYLE="font-size: 10pt">(b)</FONT></TD>
    <TD COLSPAN="2" STYLE="border-right: black 1pt solid; padding: 1.5pt"><FONT STYLE="font-size: 10pt">&#9744;</FONT></TD></TR>
  <TR>
    <TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding: 1.5pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="vertical-align: top; border-right: black 1pt solid; border-bottom: black 1pt solid; padding: 1.5pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD></TR>
  <TR>
    <TD STYLE="background-color: White"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD ROWSPAN="2" STYLE="background-color: White; border-bottom: black 1pt solid; border-left: black 1pt solid; padding: 1.5pt; text-align: center"><FONT STYLE="font-size: 10pt"><B>3</B></FONT></TD>
    <TD COLSPAN="4" STYLE="border-left: black 1pt solid; padding: 1.5pt; background-color: White"><FONT STYLE="font-size: 10pt"><B>SEC
    USE ONLY</B></FONT></TD>
    <TD STYLE="padding: 1.5pt; background-color: White"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="border-right: black 1pt solid; vertical-align: top; padding: 1.5pt; background-color: White"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD></TR>
  <TR>
    <TD STYLE="background-color: White"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD COLSPAN="4" STYLE="border-bottom: black 1pt solid; border-left: black 1pt solid; padding: 1.5pt; background-color: White"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding: 1.5pt; background-color: White"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="border-right: black 1pt solid; vertical-align: top; border-bottom: black 1pt solid; padding: 1.5pt; background-color: White"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD></TR>
  <TR>
    <TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD ROWSPAN="3" STYLE="border-bottom: black 1pt solid; border-left: black 1pt solid; padding: 1.5pt; text-align: center"><FONT STYLE="font-size: 10pt"><B>4</B></FONT></TD>
    <TD COLSPAN="4" STYLE="border-left: black 1pt solid; padding: 1.5pt"><FONT STYLE="font-size: 10pt"><B>SOURCE OF FUNDS (SEE INSTRUCTIONS)</B></FONT></TD>
    <TD STYLE="padding: 1.5pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="vertical-align: top; border-right: black 1pt solid; padding: 1.5pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD></TR>
  <TR>
    <TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD COLSPAN="4" ROWSPAN="2" STYLE="border-bottom: black 1pt solid; border-left: black 1pt solid; padding: 1.5pt 1.5pt 1.5pt 2pt"><FONT STYLE="font-size: 10pt">OO</FONT></TD>
    <TD STYLE="padding: 1.5pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="vertical-align: top; border-right: black 1pt solid; padding: 1.5pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD></TR>
  <TR>
    <TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding: 1.5pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="vertical-align: top; border-right: black 1pt solid; border-bottom: black 1pt solid; padding: 1.5pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD></TR>
  <TR>
    <TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD ROWSPAN="2" STYLE="border-bottom: black 1pt solid; border-left: black 1pt solid; padding: 1.5pt; text-align: center"><FONT STYLE="font-size: 10pt"><B>5</B></FONT></TD>
    <TD COLSPAN="4" STYLE="border-left: black 1pt solid; padding: 1.5pt"><FONT STYLE="font-size: 10pt"><B>CHECK BOX IF DISCLOSURE OF
    LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEM 2(D) OR 2(E)</B></FONT></TD>
    <TD STYLE="padding: 1.5pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="border-right: black 1pt solid; padding: 1.5pt"><FONT STYLE="font-size: 10pt">&#9744;</FONT></TD></TR>
  <TR>
    <TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD COLSPAN="4" STYLE="border-left: black 1pt solid; padding: 1.5pt; border-bottom: black 1pt solid"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding: 1.5pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="vertical-align: top; border-right: black 1pt solid; border-bottom: black 1pt solid; padding: 1.5pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD></TR>
  <TR>
    <TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD ROWSPAN="3" STYLE="border-bottom: black 1pt solid; border-left: black 1pt solid; padding: 1.5pt; text-align: center"><FONT STYLE="font-size: 10pt"><B>6</B></FONT></TD>
    <TD COLSPAN="4" STYLE="border-left: black 1pt solid; padding: 1.5pt"><FONT STYLE="font-size: 10pt"><B>CITIZENSHIP OR PLACE OF ORGANIZATION</B></FONT></TD>
    <TD STYLE="padding: 1.5pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="vertical-align: top; border-right: black 1pt solid; padding: 1.5pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD></TR>
  <TR>
    <TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD COLSPAN="4" ROWSPAN="2" STYLE="border-bottom: black 1pt solid; border-left: black 1pt solid; padding: 1.5pt 1.5pt 1.5pt 2pt"><FONT STYLE="font-size: 10pt">Cayman
    Islands</FONT></TD>
    <TD STYLE="padding: 1.5pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="vertical-align: top; border-right: black 1pt solid; padding: 1.5pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD></TR>
  <TR>
    <TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding: 1.5pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="vertical-align: top; border-right: black 1pt solid; border-bottom: black 1pt solid; padding: 1.5pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD></TR>
  <TR>
    <TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" ROWSPAN="12" STYLE="border-bottom: black 1pt solid; border-left: black 1pt solid; padding: 1.5pt; text-align: center"><FONT STYLE="font-size: 10pt"><B>NUMBER
    OF <BR>
SHARES <BR>
BENEFICIALLY<BR>
 OWNED BY<BR>
 EACH<BR>
 REPORTING<BR>
 PERSON WITH</B></FONT></TD>
    <TD ROWSPAN="3" STYLE="border-bottom: black 1pt solid; border-left: black 1pt solid; padding: 1.5pt; text-align: center"><FONT STYLE="font-size: 10pt"><B>7</B></FONT></TD>
    <TD COLSPAN="2" STYLE="border-left: black 1pt solid; padding: 1.5pt"><FONT STYLE="font-size: 10pt"><B>SOLE VOTING POWER</B></FONT></TD>
    <TD STYLE="padding: 1.5pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="vertical-align: top; border-right: black 1pt solid; padding: 1.5pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD></TR>
  <TR>
    <TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" ROWSPAN="2" STYLE="border-bottom: black 1pt solid; border-left: black 1pt solid; padding: 1.5pt 1.5pt 1.5pt 2pt"><FONT STYLE="font-size: 10pt">0</FONT></TD>
    <TD STYLE="padding: 1.5pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="vertical-align: top; border-right: black 1pt solid; padding: 1.5pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD></TR>
  <TR>
    <TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding: 1.5pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="vertical-align: top; border-right: black 1pt solid; border-bottom: black 1pt solid; padding: 1.5pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD></TR>
  <TR>
    <TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD ROWSPAN="3" STYLE="border-bottom: black 1pt solid; border-left: black 1pt solid; padding: 1.5pt; text-align: center"><FONT STYLE="font-size: 10pt"><B>8</B></FONT></TD>
    <TD COLSPAN="2" STYLE="border-left: black 1pt solid; padding: 1.5pt"><FONT STYLE="font-size: 10pt"><B>SHARED VOTING POWER</B></FONT></TD>
    <TD STYLE="padding: 1.5pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="vertical-align: top; border-right: black 1pt solid; padding: 1.5pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD></TR>
  <TR>
    <TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" ROWSPAN="2" STYLE="border-bottom: black 1pt solid; border-left: black 1pt solid; padding: 1.5pt 1.5pt 1.5pt 2pt"><FONT STYLE="font-size: 10pt">86,147,116*</FONT></TD>
    <TD STYLE="padding: 1.5pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="vertical-align: top; border-right: black 1pt solid; padding: 1.5pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD></TR>
  <TR>
    <TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding: 1.5pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="vertical-align: top; border-right: black 1pt solid; border-bottom: black 1pt solid; padding: 1.5pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD></TR>
  <TR>
    <TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD ROWSPAN="3" STYLE="border-bottom: black 1pt solid; border-left: black 1pt solid; padding: 1.5pt; text-align: center"><FONT STYLE="font-size: 10pt"><B>9</B></FONT></TD>
    <TD COLSPAN="2" STYLE="border-left: black 1pt solid; padding: 1.5pt"><FONT STYLE="font-size: 10pt"><B>SOLE DISPOSITIVE POWER</B></FONT></TD>
    <TD STYLE="padding: 1.5pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="vertical-align: top; border-right: black 1pt solid; padding: 1.5pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD></TR>
  <TR>
    <TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" ROWSPAN="2" STYLE="border-bottom: black 1pt solid; border-left: black 1pt solid; padding: 1.5pt 1.5pt 1.5pt 2pt"><FONT STYLE="font-size: 10pt">0</FONT></TD>
    <TD STYLE="padding: 1.5pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="vertical-align: top; border-right: black 1pt solid; padding: 1.5pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD></TR>
  <TR>
    <TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding: 1.5pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="vertical-align: top; border-right: black 1pt solid; border-bottom: black 1pt solid; padding: 1.5pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD></TR>
  <TR>
    <TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD ROWSPAN="3" STYLE="border-bottom: black 1pt solid; border-left: black 1pt solid; padding: 1.5pt; text-align: center"><FONT STYLE="font-size: 10pt"><B>10</B></FONT></TD>
    <TD COLSPAN="2" STYLE="border-left: black 1pt solid; padding: 1.5pt"><FONT STYLE="font-size: 10pt"><B>SHARED DISPOSITIVE POWER</B></FONT></TD>
    <TD STYLE="padding: 1.5pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="vertical-align: top; border-right: black 1pt solid; padding: 1.5pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD></TR>
  <TR>
    <TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" ROWSPAN="2" STYLE="border-bottom: black 1pt solid; border-left: black 1pt solid; padding: 1.5pt 1.5pt 1.5pt 2pt"><FONT STYLE="font-size: 10pt">86,147,116*</FONT></TD>
    <TD STYLE="padding: 1.5pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="vertical-align: top; border-right: black 1pt solid; padding: 1.5pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD></TR>
  <TR>
    <TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding: 1.5pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="vertical-align: top; border-right: black 1pt solid; border-bottom: black 1pt solid; padding: 1.5pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD></TR>
  <TR>
    <TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD ROWSPAN="3" STYLE="border-bottom: black 1pt solid; border-left: black 1pt solid; padding: 1.5pt; text-align: center"><FONT STYLE="font-size: 10pt"><B>11</B></FONT></TD>
    <TD COLSPAN="4" STYLE="border-left: black 1pt solid; padding: 1.5pt"><FONT STYLE="font-size: 10pt"><B>AGGREGATE AMOUNT BENEFICIALLY
    OWNED BY EACH REPORTING PERSON</B></FONT></TD>
    <TD STYLE="padding: 1.5pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="vertical-align: top; border-right: black 1pt solid; padding: 1.5pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD></TR>
  <TR>
    <TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD COLSPAN="4" ROWSPAN="2" STYLE="border-bottom: black 1pt solid; border-left: black 1pt solid; padding: 1.5pt 1.5pt 1.5pt 2pt"><FONT STYLE="font-size: 10pt">86,147,116*</FONT></TD>
    <TD STYLE="padding: 1.5pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="vertical-align: top; border-right: black 1pt solid; padding: 1.5pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD></TR>
  <TR>
    <TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding: 1.5pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="vertical-align: top; border-right: black 1pt solid; border-bottom: black 1pt solid; padding: 1.5pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD></TR>
  <TR>
    <TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD ROWSPAN="3" STYLE="border-bottom: black 1pt solid; border-left: black 1pt solid; padding: 1.5pt; text-align: center"><FONT STYLE="font-size: 10pt"><B>12</B></FONT></TD>
    <TD COLSPAN="4" STYLE="border-left: black 1pt solid; padding: 1.5pt"><FONT STYLE="font-size: 10pt"><B>CHECK BOX IF THE AGGREGATE
    AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES (SEE INSTRUCTIONS)</B></FONT></TD>
    <TD STYLE="padding: 1.5pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="border-right: black 1pt solid; padding: 1.5pt"><FONT STYLE="font-size: 10pt">&#9744;</FONT></TD></TR>
  <TR>
    <TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD COLSPAN="4" ROWSPAN="2" STYLE="border-bottom: black 1pt solid; border-left: black 1pt solid; padding: 1.5pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="padding: 1.5pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="vertical-align: top; border-right: black 1pt solid; padding: 1.5pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD></TR>
  <TR>
    <TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding: 1.5pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="vertical-align: top; border-right: black 1pt solid; border-bottom: black 1pt solid; padding: 1.5pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD></TR>
  <TR>
    <TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD ROWSPAN="3" STYLE="border-bottom: black 1pt solid; border-left: black 1pt solid; padding: 1.5pt; text-align: center"><FONT STYLE="font-size: 10pt"><B>13</B></FONT></TD>
    <TD COLSPAN="4" STYLE="border-left: black 1pt solid; padding: 1.5pt"><FONT STYLE="font-size: 10pt"><B>PERCENT OF CLASS REPRESENTED
    BY AMOUNT IN ROW (11)</B></FONT></TD>
    <TD STYLE="padding: 1.5pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="vertical-align: top; border-right: black 1pt solid; padding: 1.5pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD></TR>
  <TR>
    <TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD COLSPAN="4" ROWSPAN="2" STYLE="border-bottom: black 1pt solid; border-left: black 1pt solid; padding: 1.5pt 1.5pt 1.5pt 2pt"><FONT STYLE="font-size: 10pt">43.79%*</FONT></TD>
    <TD STYLE="padding: 1.5pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="vertical-align: top; border-right: black 1pt solid; padding: 1.5pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD></TR>
  <TR>
    <TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding: 1.5pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="vertical-align: top; border-right: black 1pt solid; border-bottom: black 1pt solid; padding: 1.5pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD></TR>
  <TR>
    <TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD ROWSPAN="2" STYLE="border-bottom: black 1pt solid; border-left: black 1pt solid; padding: 1.5pt; text-align: center"><FONT STYLE="font-size: 10pt"><B>14</B></FONT></TD>
    <TD COLSPAN="4" STYLE="border-left: black 1pt solid; padding: 1.5pt"><FONT STYLE="font-size: 10pt"><B>TYPE OF REPORTING PERSON (SEE
    INSTRUCTIONS)</B></FONT></TD>
    <TD STYLE="padding: 1.5pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="vertical-align: top; border-right: black 1pt solid; padding: 1.5pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD></TR>
  <TR>
    <TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD COLSPAN="4" STYLE="border-bottom: black 1pt solid; border-left: black 1pt solid; padding: 1.5pt 1.5pt 1.5pt 2pt"><FONT STYLE="font-size: 10pt">CO</FONT></TD>
    <TD STYLE="padding: 1.5pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="vertical-align: top; border-right: black 1pt solid; padding: 1.5pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD></TR>
  <TR>
    <TD STYLE="width: 1%"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 6%"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 8%"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 6%"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 29%"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 46%"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 2%"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 1%"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 1%"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">*See Item 5.</P>




<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Explanatory Note</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">This Amendment No. 6 to Schedule 13D (&#8220;<U>Amendment No. 6</U>&#8221;)
relates to the shares of Class A common stock, par value $0.004 per share (the &#8220;<U>Class A Common Stock</U>&#8221;), of Laureate
Education, Inc., a Delaware public benefit corporation (the &#8220;<U>Issuer</U>&#8221;), and amends the initial statement on Schedule
13D filed by Wengen Alberta, Limited Partnership (&#8220;<U>Wengen</U>&#8221;) and Wengen Investments Limited (&#8220;<U>Wengen GP</U>&#8221;
and, together with Wengen, the &#8220;<U>Reporting Persons</U>&#8221;) with the Securities and Exchange Commission (the &#8220;<U>SEC</U>&#8221;)
on February 16, 2017, as amended by Amendment No. 1, Amendment No. 2, Amendment No. 3, Amendment No. 4 and Amendment No. 5 to such Schedule
13D filed on April 25, 2018, November 15, 2018, November 21, 2018, June 19, 2019 and September 23, 2019, respectively (as so amended,
the &#8220;<U>Statement</U>&#8221;). This Amendment No. 6 is being filed by the Reporting Persons to report that the Wengen GP and limited
partners in Wengen holding a majority of the Series A-1 interests therein (the &#8220;<U>Limited Partners</U>&#8221;) approved a pro rata
distribution by Wengen of 17,229,423 shares of the Issuer&#8217;s Class A Common Stock to the Limited Partners in proportion to, and in
partial redemption of, their respective ownership percentages in Wengen, as described in more detail below. Except as specifically provided
herein, this Amendment No. 6 does not modify any of the information previously reported in the Schedule 13D. Capitalized terms used herein
but not otherwise defined herein shall have the meanings ascribed to them in the Schedule 13D.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 60px"><FONT STYLE="font-size: 10pt"><B>Item 4.</B></FONT></TD>
    <TD><FONT STYLE="font-size: 10pt"><B>Purpose of Transaction.</B></FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><I>Item 4 of the Statement is hereby amended by adding the following:</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">On March 18, 2021, Wengen GP and investors in Wengen
holding a majority of the Series A-1 interests in Wengen approved a pro rata distribution by Wengen of 17,229,423 shares of the Issuer&#8217;s
Class B Common Stock to Wengen investors for no additional consideration and in proportion to, and in partial redemption of, such Wengen
investors&#8217; respective ownership percentages in Wengen (the &#8220;<U>Distribution</U>&#8221;), which shares, upon the Distribution,
will convert into shares of the Issuer&#8217;s Class A Common Stock. The Wengen investors also approved a waiver under the Wengen Securityholders
Agreement to permit Wengen to effectuate the Distribution. The Distribution is scheduled to occur on March 26, subject to certain material
conditions.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Following the Distribution, the Reporting Persons
may be deemed to beneficially own, in the aggregate, 68,917,693 shares of Class A Common Stock, which represent, in the aggregate, approximately
35.03% of the outstanding shares of the Issuer&#8217;s Class A Common Stock, calculated pursuant to Rule 13d-3 of the Securities Exchange
Act of 1934 (the &#8220;Exchange Act&#8221;) and based on information provided by the Issuer and assuming the full conversion of all outstanding
shares of Class B Common Stock to shares of Class A Common Stock, as a result of Wengen&#8217;s ownership, following the Distribution,
of 68,917,693 shares of Class B Common Stock, which are convertible by Wengen on a one-for-one basis into shares of Class A Common Stock
at the discretion of Wengen GP or upon transfer, subject to the terms of the Issuer&#8217;s Amended and Restated Certificate of Incorporation.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Also on March 18, 2021, the shareholders of
Wengen GP approved a change in the size of Wengen GP&#8217;s board of directors, which change permits the board to be comprised of
between six and nine directors. In connection therewith, pursuant to the terms of the Wengen Securityholders Agreement, Christopher
Hoehn-Saric resigned as a representative of Sterling on the Wengen GP board of directors, and M. Avi Epstein was appointed to fill
the vacancy as a Sterling representative.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>




<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>SIGNATURE</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">After reasonable inquiry and to the best of my
knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD COLSPAN="2"><FONT STYLE="font-size: 10pt">Dated:&nbsp; March 23, 2021</FONT></TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD COLSPAN="2">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD COLSPAN="2"><FONT STYLE="font-size: 10pt"><B>WENGEN ALBERTA, LIMITED PARTNERSHIP</B></FONT></TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD COLSPAN="2">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 4%"><FONT STYLE="font-size: 10pt">By:</FONT></TD>
    <TD STYLE="width: 46%"><FONT STYLE="font-size: 10pt">Wengen Investments Limited, its general partner</FONT></TD>
    <TD STYLE="width: 50%">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD COLSPAN="2">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-size: 10pt">By:</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid"><FONT STYLE="font-size: 10pt">/s/ Steven M. Taslitz</FONT></TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-size: 10pt">Name:</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">Steven M. Taslitz</FONT></TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-size: 10pt">Title:</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">Director</FONT></TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD COLSPAN="2">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD COLSPAN="2"><FONT STYLE="font-size: 10pt"><B>WENGEN INVESTMENTS LIMITED</B></FONT></TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD COLSPAN="2">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-size: 10pt">By:</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid"><FONT STYLE="font-size: 10pt">/s/ Steven M. Taslitz</FONT></TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-size: 10pt">Name:</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">Steven M. Taslitz</FONT></TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-size: 10pt">Title:</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">Director</FONT></TD>
    <TD>&nbsp;</TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>




<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B><U>SCHEDULE I</U></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; background-color: white"><B><U>DIRECTORS OF WENGEN
GP</U></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in; background-color: white">The following sets forth
the name, business address, principal occupation of each director of Wengen GP, the number of shares of the Issuer&#8217;s Class A Common
Stock beneficially owned by each such director and a description of any transactions in the Issuer&#8217;s Class A Common Stock that were
effected during the past sixty days by each such director.&nbsp; Each director is a citizen of the United States.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; background-color: white">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR>
    <TD STYLE="border-top: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding: 1.5pt; vertical-align: top; width: 1%">&nbsp;</TD>
    <TD STYLE="border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding: 1.5pt; vertical-align: bottom; width: 33%; text-align: center"><FONT STYLE="font-size: 10pt"><B>Director and Business Address</B></FONT></TD>
    <TD STYLE="border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding: 1.5pt; vertical-align: top; width: 1%">&nbsp;</TD>
    <TD STYLE="border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding: 1.5pt; vertical-align: bottom; width: 21%; text-align: center"><FONT STYLE="font-size: 10pt"><B>Principal Occupation</B></FONT></TD>
    <TD STYLE="border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding: 1.5pt; vertical-align: top; width: 1%">&nbsp;</TD>
    <TD STYLE="border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding: 1.5pt; vertical-align: bottom; width: 21%">
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Shares of Class A </B></P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Common Stock</B></P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Beneficially </B></P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Owned</B></P></TD>
    <TD STYLE="border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding: 1.5pt; vertical-align: top; width: 1%">&nbsp;</TD>
    <TD STYLE="border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding: 1.5pt; vertical-align: bottom; width: 21%">
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Transactions in the</B></P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Issuer&#8217;s Class A</B></P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Common Stock&nbsp; </B></P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Within 60 Days</B></P></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding: 1.5pt">&nbsp;</TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding: 1.5pt">
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><I>Brian Carroll</I></P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">c/o Laureate Education, Inc.</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">650 South Exeter Street</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Baltimore, Maryland 21202</P></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding: 1.5pt">&nbsp;</TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding: 1.5pt">
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Managing Partner</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Carroll Capital LLC</P></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding: 1.5pt">&nbsp;</TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding: 1.5pt; text-align: center"><FONT STYLE="font-size: 10pt">13,620(1)</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding: 1.5pt">&nbsp;</TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding: 1.5pt; text-align: center"><FONT STYLE="font-size: 10pt">None</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding: 1.5pt">&nbsp;</TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding: 1.5pt">
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><I>Andrew Cohen</I></P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">c/o Cohen Private Ventures, LLC</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">510 Madison Avenue</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">New York, New York 10022</P></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding: 1.5pt">&nbsp;</TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding: 1.5pt">
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Managing Director</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Cohen Private Ventures, LLC</P></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding: 1.5pt">&nbsp;</TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding: 1.5pt; text-align: center"><FONT STYLE="font-size: 10pt">See Footnote (2)</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding: 1.5pt">&nbsp;</TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding: 1.5pt; text-align: center"><FONT STYLE="font-size: 10pt">See Footnote (2)</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding: 1.5pt">&nbsp;</TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding: 1.5pt">
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><I>William Cornog</I></P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">c/o KKR Capstone Americas LLC</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">30 Hudson Yards</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">New York, New York 10001</P></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding: 1.5pt">&nbsp;</TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding: 1.5pt">
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Global Head</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">KKR Capstone Americas LLC</P></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding: 1.5pt">&nbsp;</TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding: 1.5pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; background-color: white">22,986</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding: 1.5pt">&nbsp;</TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding: 1.5pt; text-align: center"><FONT STYLE="font-size: 10pt">None</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding: 1.5pt">&nbsp;</TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding: 1.5pt">
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><I>M. Avi Epstein</I></P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">c/o Sterling Partners</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">401 N. Michigan Avenue</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Suite 3300</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Chicago, Illinois 60611</P></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding: 1.5pt">&nbsp;</TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding: 1.5pt">
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Managing Director, Chief Operating Officer, General Counsel and Chief
    Compliance Officer,</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Sterling Partners</P></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding: 1.5pt">&nbsp;</TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding: 1.5pt; text-align: center"><FONT STYLE="font-size: 10pt">See Footnote (3)</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding: 1.5pt">&nbsp;</TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding: 1.5pt; text-align: center"><FONT STYLE="font-size: 10pt">See Footnote (3)</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding: 1.5pt">&nbsp;</TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding: 1.5pt">
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><I>Ian Snow</I></P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">c/o Snow Phipps Group, LLC</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">667 Madison Avenue</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">New York, New York 10065</P></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding: 1.5pt">&nbsp;</TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding: 1.5pt">
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Chief Executive Officer and Co-Founding Partner</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Snow Phipps Group, LLC</P></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding: 1.5pt">&nbsp;</TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding: 1.5pt; text-align: center"><FONT STYLE="font-size: 10pt">See Footnote (4)</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding: 1.5pt">&nbsp;</TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding: 1.5pt; text-align: center"><FONT STYLE="font-size: 10pt">See Footnote (4)</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding: 1.5pt">&nbsp;</TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding: 1.5pt">
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><I>Steven M. Taslitz</I></P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">c/o Sterling Partners</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">401 N. Michigan Avenue</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Suite 3300</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Chicago, Illinois 60611</P></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding: 1.5pt">&nbsp;</TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding: 1.5pt">
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Senior Managing Director</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Sterling Partners</P></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding: 1.5pt">&nbsp;</TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding: 1.5pt; text-align: center"><FONT STYLE="font-size: 10pt">See Footnote (3)</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding: 1.5pt">&nbsp;</TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding: 1.5pt; text-align: center"><FONT STYLE="font-size: 10pt">See Footnote (3)</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; background-color: white">(1) Includes 4,611 shares of Class B Common
Stock reserved for issuance upon distribution of Mr. Carroll&#8217;s Deferred Compensation Plan account when he retires from the Issuer&#8217;s
board of directors.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; background-color: white">(2) Information concerning the
director&#8217;s beneficial ownership of Class A Common Stock and transactions in the Issuer&#8217;s Class A Common Stock effected
during the past sixty days is incorporated herein by reference to the Schedule 13D to be filed by Cohen Private Ventures, LLC in
connection with the Distribution.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; background-color: white">(3) Information concerning the director&#8217;s
beneficial ownership of Class A Common Stock and transactions in the Issuer&#8217;s Class A Common Stock effected during the past sixty
days is incorporated herein by reference to the Schedule 13D to be filed by Sterling in connection with the Distribution.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; background-color: white">(4) Information concerning the director&#8217;s
beneficial ownership of Class A Common Stock and transactions in the Issuer&#8217;s Class A Common Stock effected during the past sixty
days is incorporated herein by reference to the Schedule 13D to be filed by Snow Phipps in connection with the Distribution.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; background-color: white">&nbsp;</P>



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