2025 Shareholders’ Meeting

Safe Harbor Statement Statements in this presentation regarding Lincoln’s business that are not historical facts may be “forward-looking statements” as that term is defined in the federal securities law. The words “may,” “will,” “expect,” “believe,” “anticipate,” “project,” “plan,” “intend,” “estimate,” and “continue,” and their opposites and similar expressions are intended to identify forward-looking statements. Forward-looking statements are based on information available at the time those statements are made and/or management’s good faith belief as of that time with respect to future events and are subject to risks and uncertainties that could cause actual performance or results to differ materially from those expressed in or suggested by the forward-looking statements. Forward-looking statements should not be read as a guarantee of future performance or results and will not necessarily be accurate indications of the times at, or by, which such performance or results will be achieved, if at all. Generally, these statements relate to business plans or strategies and projections involving anticipated revenues, earnings, or other aspects of the Company’s operating results. The Company cautions you that these statements concern current expectations about the Company’s future performance or events and are subject to a number of uncertainties, risks, and other influences, many of which are beyond the Company’s control, that may influence the accuracy of the statements and the projects upon which the statements are based including, without limitation, impacts related to epidemics or pandemics; our failure to comply with the extensive regulatory framework applicable to our industry or our failure to obtain timely regulatory approvals in connection with acquisitions or a change of control of our Company; our success in updating and expanding the content of existing programs and developing new programs for our students in a cost-effective manner or on a timely basis; risks associated with cybersecurity; risks associated with changes in applicable federal laws and regulations; uncertainties regarding our ability to comply with federal laws and regulations, such as the 90/10 rule and prescribed cohort default rates; risks associated with the opening of new campuses; risks associated with integration of acquired schools; industry competition; our ability to execute our growth strategies; conditions and trends in our industry; general economic conditions; and other factors discussed in the “Risk Factors” section of our Annual Reports and Quarterly Reports filed with the Securities and Exchange Commission. All forward-looking statements are qualified in their entirety by this cautionary statement, and Lincoln undertakes no obligation to publicly revise or update any forward-looking statements, whether as a result of new information, future events or otherwise after the date hereof.

2024 was an Outstanding Year We achieved or exceeded our guidance Grew our revenue by 16% Increased our profitability by 60% Increased our starts by 15% Increased our ending population by 14% No debt and $60 million in cash Opened our first new campus in 19 years Replicated 5 programs Strong reaccreditation visits More visits by public officials Expanded our partnerships

Annual Summary ($ in millions) Full Year Revenue & Adj. EBITDA Margin Full Year Adj. EBITDA Adjusted EBITDA excludes Somerville campus, East Point, GA (Atlanta) campus for Q1 & Q2 2024, other new campus / new program start-up costs, and other one-time items Full Year Starts Full Year Avg Pop

A Resurgence of the Trades Skepticism about ROI of college Cost of education Practical, AI proof careers Solid middle class opportunities Growing demand Over 95% of our students are pursuing careers that the U.S Department of Homeland Security considers Essential Critical Infrastructure Workers. The Toolbelt Generation

Investment Opportunity Employers cannot find enough technically trained employees and with the infrastructure bill passed demand for skilled workers should be even greater Lincoln is a leading, technical, hands- on educator and trainer serving high demand industries (transportation, skilled trades and healthcare) facing this Skills Gap Proven ability to grow population and revenue in high and low unemployment markets Continuing our strong track record of profitability with increasing operating leverage Strong balance sheet with resources to expand programs and campuses to accelerate growth Continuing efforts to streamline and standardize operations including moving to a more efficient hybrid learning model, and standardizing curriculum. Hybrid model is more attractive to students Skills Gap Leader Growth Profitability Increasing Efficiency Balance sheet

Our Superior Educational Approach Feedback Integration Student Support Industrial Infrastructure Engaging Curriculum Graduation and Placement Employment Assistance Develop training programs with feedback from employers and key industry associations to understand gaps and needs Integrate industry preferred licensing and certifications into the curriculum Provide robust student support services to ensure strong outcomes Build labs and shops that replicate the working environment using professional grade equipment and tools Incorporate cutting edge education technology with animations, videos and simulations to make learning active and engaging Superior graduation rates and placement rates Expect students to meet employability standards for appearance, attendance and professional attitude while in school Offer an accelerated program with multiple entry points to allow students to graduate quickly and enter the workforce earlier

Lincoln Tech Largest Provider of Automotive and Skilled Trade Graduates in the East Source: IPEDS completions survey 2022-23

Growth Strategy New Programs 2024: 4 additional programs and 1 expansion 2025: 5 additional programs and 2 expansions New programs expected to generate ~$1M+ of EBITDA 36 months after opening Efficiencies through Centralization and Automation resulting in cost optimization Expansion of standardization hybrid teaching model Buy : Acquisition Strategic acquisition to expand market share Diversify Program Offerings Leverage cost saving synergies New School Construction Evaluate new and adjacent markets to expand our campus footprint Create a new efficient and streamlined campus model Relocation of existing campuses to expand program offerings New campuses expected to generate ~$6M of EBITDA 36 months after opening Lincoln’s Growth Strategy Organic Growth Inorganic Growth

Strategic Growth Plan * New Locations: East Point, GA; Houston, TX; Levittown, PA (Philadelphia); and Nashville, TN. 2027 Adjusted EBITDA does not include Hicksville, NY which is projected to open Q4 2026 and will be adjusted for losses during the first year of opening. ** 2027 Net Income includes losses from new campus in Hicksville, NY during first year of opening $15 $12 $21 2024 Adjusted EBITDA Base Growth (incl. Efficiencies) New Programs New Locations* 2027 Adjusted EBITDA Adjusted EBITDA (in millions) Margin: 16% $42 $90 $36 $27 $90 2024 Base Revenue Base Growth New Programs New Locations* 2027 Revenue Revenue (in millions) $397 $550 Excludes East Point, Philadelphia, and Nashville campuses S t a r ted f r o m a p o s i t ion o f s t r e ngth G r o w th b y e x p a nd ing o ur s t r o nges t p r o g r ams G r o w th f r o m e x p a nsio n t o ne w ma r k ets Margin: 41% Margin: 44% Margin: 23% 2027 Projections: Net Income: ~$36M** EPS: ~$1.13 Cash from Ops: ~$68M

Strong Industry Partner Relationships Positions Lincoln as long-term solutions provider for both entry level technicians and advanced workforce training Employers appreciate the technical and soft skills of our students Partners provide validation of the quality of our education Co-branding opportunities with elite partners helps attract new students Partners provide better job opportunities for our graduates

Experienced Management Team Alexandra Luster SVP, General Counsel & Secretary (30) Val Thomas SVP & Chief Information Officer (14) Stephen Ace SVP of Human Resources (16) Francis Giglio SVP of Compliance and Regulatory (21) James Rasmussen SVP Admissions (18) Chad Nyce EVP, Chief Operating Officer (4) Scott Shaw President and CEO (23) Brian Meyers EVP, CFO & Treasurer (22) David Shaw SVP Finance (21) Gina Zaffino SVP Education (4)

Board Of Directors Carlton E. Rose Former President, Global Fleet Maintenance & Engineering, UPS; 1981 Lincoln Tech Graduate Scott M. Shaw President & Chief Executive Officer, Lincoln Educational Services Felecia J. Pryor Senior Vice President & Chief People Officer, John Deere Sylvia J. Young Former President & Chief Executive Officer HCA Continental Division James J. Burke, Jr. Founder & Managing Member, JJB Capital Partners LLC Kevin M. Carney Former Executive Vice President & Chief Financial Officer, Web.com Group Inc. John A. Bartholdson Non-Executive Chairman, Lincoln Educational Services; Co-Founder & Partner, Juniper Investment Co. LLC Dr. Michael A. Plater Former University President, Strayer University Marta Ronquillo Newhart Independent Director, Enterprise Leader & Chief Marketing, Communications & Brand Officer at APCO Worldwide Anna Cabral Former Treasurer of the United States of America

Thank You