2630 Pitcairn Rd, Monroeville, PA 15146

Corporate Guaranty (NYSE: KLC) from the #1 Corporate Operator in the Country

• KinderCare is the largest private provider of high-quality early childhood education in the US by center capacity with the ability to serve over 200,000 children across its more than 2,400 centers and sites.

• KinderCare currently operates in over 40 states across the United States.

• #1 largest childcare brand with $2.66 billion in 2024 reported annual revenue.

KinderCare Completed IPO in October 2024

• KinderCare completed its IPO in October 2024, raising approximately $616M in proceeds and receiving a credit rating upgrade as a result.

• FY 2024 revenues of $2.66B, a 5.9% increase over the previous year.

22-Year Operating History at this Location

• KinderCare signed an original 15-year lease, after owning/occupying the property for many years and they have signed multiple lease renewals.

• The lease is absolute net and has zero landlord responsibilities.

• The lease also features multiple options to extend with rental increases every 5 years.

Pittsburgh MSA - Second Largest Metropolitan Area in the State of Pennsylvania

• The Pittsburgh Metro Area has a population of 2,420,000+ and is among the top-30 largest US metro areas according to Census Reporter.

• The University of Pittsburgh Medical Center is the largest non-government employer, with well over 90,000 employees across hospitals, outpatient centers, insurance, and health services, and more than 40 hospitals and hundred of clinical sites.

• The Pittsburgh Metro Area is home to several major Universities including University of Pittsburgh and Carnegie Mellon University, which have a combined 72,000+ students and employees.

Demand For Child Care Remains Extremely Strong

• The U.S. child care market size was valued at USD 60.4 in 2022 and is expected to grow at a compound annual growth rate (CAGR) on 4.18% from 2023 to 2030.

• They key factor driving the growth is the rising demand for early daycare & education services with more parents returning to working in offices, the rising number of single & working mothers, advancement in learning technologies for children, and the accessibility of government funding.

• The expenditure on daycare in the U.S. is very high. As per the cost of childcare survey facilitated by the U.S. Department of Health and Human Services, the expenditure on these services reached up to 7% of the household income in 2021.