On December 2, 2020, Inclusive Capital Partners, L.P. have had and anticipate having further discussions with officers and directors of Strategic Education, Inc. in connection with Inclusive Capital' investment in the Company. Inclusive Capital stated that the topics of these conversations have covered and will cover a range of issues, including those relating to the business of the Company, management, board composition, investor communications, operations, capital allocation, dividend policy, financial condition, mergers and acquisitions strategy, overall business strategy, executive compensation, corporate governance and environmental and social matters related to the Company's business and stakeholders.