144 0001286613 XXXXXXXX LIVE 0001524397 LINCOLN EDUCATIONAL SERVICES CORP 021-162089 14 Sylvan Way Suite A Parsippany NJ 07054 973-736-9340 Juniper Targeted Opportunity Fund, L.P. Affiliate Common Shares CF Secured, LLC

110 East 59th Street 4th Floor New York NY 10022

225120 11710742.40 31720728 05/14/2026 NASDAQ Common Shares, no par value per share 11/26/2021 Open market purchases Open market purchases N 65895 11/26/2021 Cash Common Shares, no par value per share 11/30/2021 Open market purchases Open market purchases N 11300 11/30/2021 Cash Common Shares, no par value per share 12/01/2021 Open market purchases Open market purchases N 89790 12/01/2021 Cash Common Shares, no par value per share 07/14/2017 Open market purchases Open market purchases N 980 07/14/2017 Cash Common Shares, no par value per share 07/13/2017 Open market purchases Open market purchases N 600 07/13/2017 Cash Common Shares, no par value per share 07/10/2017 Open market purchases Open market purchases N 6155 07/10/2017 Cash Common Shares, no par value per share 07/12/2017 Open market purchases Open market purchases N 400 07/12/2017 Cash Common Shares, no par value per share 12/16/2019 Open market purchases Open market purchases N 50000 12/16/2019 Cash N Juniper Targeted Opportunity Fund, L.P.

555 Madison Avenue 24th Floor New York NY 10022

Common Stock, no par value per share 02/25/2026 275000 9500645.00 Juniper Targeted Opportunity Fund, L.P.

555 Madison Avenue 24th Floor New York NY 10022

Common Stock, no par value per share 02/27/2026 150000 5350302.30 The securities referred to in this Form 144 are held directly by Juniper Targeted Opportunity Fund, L.P., a limited partnership of which Juniper HF Investors II, LLC is general partner. John A. Bartholdson is a Managing Member of Juniper HF Investors II, LLC and a director of the Issuer. The Aggregate Market Value is based on $52.02, the closing per share price on May 13, 2026. The Number of Shares or Other Units Outstanding represents shares outstanding as of May 11, 2026, as reported on the Issuer's Quarterly report on Form 10-Q filed May 11, 2026. 05/14/2026 /s/ John A. Bartholdson for JUNIPER TARGETED OPPORTUNITIES, L.P. By: Juniper HF Investors II, LLC, its General Partner