CVSA

• Fiscal year 2026 revenue was $1,954.1 million, up 9.3% year-over-year; GAAP diluted EPS was $7.04, adjusted EPS was $8.25, up 23.7% year-over-year.
• Total Q4 enrollment was 99,472, up 8.4% year-over-year, with Chamberlain up 1.6%, Walden up 14.0%, and Medical and Veterinary up 7.3%.
• Fiscal year 2026 adjusted EBITDA was $521.7 million, up 13.5% year-over-year; Q4 adjusted EBITDA was $126.9 million, up 15.2%.
• Company initiates fiscal year 2027 guidance: revenue of $2,050 million to $2,090 million (5-7% growth) and adjusted EPS of $8.90 to $9.15 (8-11% growth).

2.02 Results of Operations and Financial Condition · 9.01 Financial Statements and Exhibits

• Covista Inc. appointed Emily Chiu and Leslie Storms as independent members of its Board of Directors, effective August 17, 2026.
• Chiu and Storms will receive the same compensation as other non-employee directors, including a prorated restricted stock unit grant valued at approximately $32,986 on August 17, 2026.
• They will also receive an equity retainer grant of restricted stock units valued at $150,000 after the 2026 annual meeting and annual cash compensation of $85,000 paid quarterly.
• Chiu is a former CEO with experience in technology, fintech, and edtech; Storms is COO of National Veterinary Associates with experience in healthcare delivery and medtech.

5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements · 9.01 Financial Statements and Exhibits

• GAAP net income was $41.6 million, down from $60.8 million in the prior year; adjusted EBITDA was $127.9 million, roughly flat year-over-year.
• The company raised fiscal year 2026 revenue guidance to $1,930 million–$1,945 million (8%–9% growth) and adjusted EPS guidance to $7.95–$8.15 (19%–22% growth).
• Chamberlain University returned to positive total enrollment growth, while Walden University grew enrollment 12.3% year-over-year.
• Covista repurchased $66 million of shares in the quarter and refinanced debt into a $510 million Term Loan B due 2033.

2.02 Results of Operations and Financial Condition · 9.01 Financial Statements and Exhibits

• The newsletter introduces 'Purpose at Scale,' a three-year strategy with FY2029 targets of 7–10% revenue CAGR, 10–14% Adjusted EPS CAGR, and enrollment exceeding 120,000 students.
• Covista announced its founding membership in the Alliance for Advancing Rural Healthcare (AARH) to support the federal Rural Health Transformation initiative.
• Dr. Cheryl Holmes joined in March 2026 as Dean of Ross University School of Medicine, bringing over 30 years of clinical experience.
• The company's third quarter earnings call is scheduled for May 7, 2026.

7.01 Regulation FD Disclosure · 9.01 Financial Statements and Exhibits

• The 2026 Term Loans bear interest at Term SOFR plus 2.25% (0.75% SOFR floor) or alternate base rate plus 1.25%, reducing term loan interest rate margins by 0.50%.
• Proceeds refinanced in full existing term loans and redeemed all outstanding 5.50% Senior Secured Notes due 2028, with a redemption payment of approximately $404,950,000 principal plus accrued interest.
• The Indenture for the Notes was fully satisfied and discharged upon deposit of the redemption payment with U.S. Bank National Association, the trustee.
• The Amendment was among Covista, guarantors, the lender, and Morgan Stanley Senior Funding, Inc. as administrative agent.

1.01 Entry into a Material Definitive Agreement · 1.02 Termination of a Material Definitive Agreement · 2.03 Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement · 9.01 Financial Statements and Exhibits

• The company introduced 'Purpose at Scale,' a three-year growth strategy for fiscal years 2027-2029, focusing on operational excellence, platform extension, employer integration, and technology.
• Covista announced financial targets for FY27-FY29: revenue growth of 6-8%, 7-10%, and 8-11%, and adjusted EPS growth of 9-13%, 10-14%, and 12-16%, respectively.
• The company reaffirmed its FY2026 guidance: revenue of $1,900 million to $1,940 million and adjusted EPS of $7.80 to $8.00.
• Covista announced new partnerships with GE Healthcare's HelloAI business unit and as a founding partner in the Alliance for Advancing Rural Healthcare with SAIC.
• The company's stock began trading under the ticker symbol CVSA on the NYSE effective at market open on February 24, 2026.

7.01 Regulation FD Disclosure · 9.01 Financial Statements and Exhibits

• Covista Inc. (formerly Adtalem Global Education Inc.) filed a Certificate of Amendment with Delaware to change its corporate name, effective February 5, 2026.
• The board amended the bylaws to reflect the new name and updated the registered agent's name and address; no other bylaw changes were made.
• Covista will host an Investor Day on February 24, 2026, to present its forward-looking strategic plan and investment priorities.
• The company released the Covista Care Capacity Monitor, research by Gallup, documenting the U.S. healthcare workforce crisis, and launched Covista Open Doors, a multi-year impact commitment.

5.03 Amendments to Articles of Incorporation or Bylaws; Change in Fiscal Year · 7.01 Regulation FD Disclosure · 9.01 Financial Statements and Exhibits

• GAAP net income was $76.4 million, and adjusted EBITDA was $154.9 million, up 23.9% year-over-year.
• Diluted EPS was $2.11; adjusted EPS was $2.43, up 34.3% year-over-year.
• The company raised its fiscal year 2026 adjusted EPS guidance to $7.80-$8.00, while maintaining revenue guidance of $1,900-$1,940 million.
• Adtalem completed a $150 million share repurchase program and authorized a new $750 million program through December 2028.

2.02 Results of Operations and Financial Condition · 9.01 Financial Statements and Exhibits