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Full title: Application for compensation for Lighthouse Management Group, Inc., Financial Advisor. Period: 1/1/2021 to 2/28/2021, Fee: $11,583.35, Expenses: $0.00. An affidavit or verification, Proposed order. Hearing scheduled 5/11/2021 at 09:30 AM at Courtroom 2B, 2nd floor, 316 North Robert Street, St. Paul, Judge William J. Fisher. (Caldie, Edwin) (Entered: 04/14/2021)

Document posted on Apr 13, 2021 in the bankruptcy, 20 pages and 0 tables.

Bankrupt11 Summary (Automatically Generated)

NOTICE OF HEARING AND FIFTH INTERIM APPLICATION OF LIGHTHOUSE MANAGEMENT GROUP, INC., FINANCIAL ADVISER TO THE CHAPTER 11 TRUSTEE, FOR ALLOWANCE OF COMPENSATION AND REIMBURSEMENT OF ACTUAL AND NECESSARY EXPENSES 1. B310 Claims Administration and Objections 01-04-2021 Josh Clark B310 Claims Administration and Objections 1.20 165.00 198.00Analyze and review model of estimated payments on federal student loans.01-25-2021 Josh Clark B310 Claims Administration and Objections 0.70 165.00 115.50Review of Bankruptcy Claimants Summary spreadsheet (0.7) 01-26-2021 Josh Clark B310 Claims Administration and Objections 3.50 165.00 577.50Correspondence with A. Welle re: servicer responses and balance of principal refunds owed tostudents (0.3) Analysis re: same (1.5) Correspondence with J. Herrmann re: Bankruptcy ClaimantsSummary spreadsheet.(1.5) 02-24-2021 Josh Clark B310 Claims Administration and Objections 0.60 165.00 99.00Further review and analysis of bankruptcy claims and interest estimate model.The Applications for allowance of professional fees and expenses for the court-appointed Chapter 11 Trustee, James A. Bartholomew (the “Trustee”), Lighthouse Management Group, Inc. (“Lighthouse”), Stinson LLP (“Stinson”), Winthrop & Weinstine, P.A. (“Winthrop”), and Donlin, Recano & Company, Inc. (“Donlin”) are set for hearing on Tuesday, May 11, 2021, at 9:30 a.m., or as soon thereafter as counsel may be heard, in Courtroom 2B,

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Document Contents

UNITED STATES BANKRUPTCY COURT FOR THE DISTRICT OF MINNESOTA Jointly Administered Under Case No. 19-33629 (WJF) In re: Minnesota School of Business, Inc., Case No.: 19-33629 Globe University, Inc., Case No.: 19-33632 Chapter 11 Cases Debtors. SUMMARY SHEET FOR FIFTH INTERIM APPLICATION OF LIGHTHOUSE MANAGEMENT GROUP, INC., FINANCIAL ADVISOR TO THE CHAPTER 11 TRUSTEE FOR ALLOWANCE OF COMPENSATION AND REIMBURSEMENT OF ACTUAL AND NECESSARY EXPENSES Name of Applicant: Lighthouse Management Group, Inc. Authorized to Provide The Chapter 11 Trustee Professional Services to: Date of Retention: May 16, 2020, by Order dated May 19, 2020 Period for which compensation and January 1, 2021 through February 28, 2021 reimbursement is sought: (the “Compensation Period”) Amount of Compensation sought as $11,583.35 actual, reasonable and necessary: Amount of Expense Reimbursement sought as actual, reasonable and $0.00 necessary: This is a(n)  Monthly  Interim  Final application

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SUMMARY OF PROFESSIONALS
Table 1 on page 2. Back to List of Tables
Name of Professional Title Total
Hours
Billed
Hourly
Rate
Total
Compensation
Total
Compensation
after Discount
Patrick Finn Partner 1.8 $465 $837.00 $5,795.15
Josh Clark Associate 58.9 $165 $9,718.50 $9,232.57
Pam Wigen Office Manager 13.1 $125 $1,637.50 $1,555.63
Total 73.8 $12,193.001 $11,583.35
Blended Rate $340.64
SUMMARY OF PROFESSIONALS FEES BY PROJECT CATEGORY
Table 2 on page 2. Back to List of Tables
Project Category Total
Hours
Total Fees Total Fees
after Discount
Case Administration (B110) 14.4 $2,242.00 $2,129.90
Claims Administration and Objections (B310) 59.4 $9,951.00 $9,453.45
Grand Total 73.8 $12,193.00 $11,583.35
EXPENSES DESCRIPTION AMOUNT None $0.00 Total $0.00 1 Per Lighthouse’s application for employment, Lighthouse has applied a 5% discount to the services provided.

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UNITED STATES BANKRUPTCY COURT FOR THE DISTRICT OF MINNESOTA Jointly Administered Under Case No. 19-33629 (WJF) In re: Minnesota School of Business, Inc., Case No.: 19-33629 Globe University, Inc., Case No.: 19-33632 Chapter 11 Cases Debtors. NOTICE OF HEARING AND FIFTH INTERIM APPLICATION OF LIGHTHOUSE MANAGEMENT GROUP, INC., FINANCIAL ADVISER TO THE CHAPTER 11 TRUSTEE, FOR ALLOWANCE OF COMPENSATION AND REIMBURSEMENT OF ACTUAL AND NECESSARY EXPENSES 1. Lighthouse Management Group, Inc. (“Lighthouse”) submits this fifth interim application for allowance of compensation and reimbursement of actual and necessary expenses (“Application”) for services performed as financial adviser to the appointed Chapter 11 Trustee, James A Bartholomew (the “Trustee”) from January 1, 2021 through February 28, 2021, and hereby gives notice of hearing on the Application. NOTICE OF HEARING 2. The Court will hold a hearing on this Application on Tuesday, May 11, 2021, at 9:30 a.m., or as soon thereafter as counsel may be heard, in Courtroom 2B, 232 Warren E. Burger Federal Building and U.S. Courthouse, 316 North Robert Street, St. Paul, Minnesota 55101. 3. Any response to this Application must be filed and served by delivery or mail not later than Thursday, May 6, 2021 which is five days before the date set for hearing (including Saturday, Sunday, and holidays). UNLESS A RESPONSE OPPOSING THE APPLICATION

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IS TIMELY FILED, THE COURT MAY GRANT THE APPLICATION WITHOUT A HEARING. 4. The Court has jurisdiction over this matter pursuant to 28 U.S.C. §§ 157 and 1334, Fed. R. Bankr. P. 5005, and Local Rule 1070-1. This Application arises under 11 U.S.C. §§ 328, 330, and 331. This Application is filed pursuant to Fed. R. Bankr. P. 2016 and Local Rule 2016-1. This is a core proceeding. 5. Lighthouse requests allowance and payment of compensation for services rendered to, and reimbursement of expenses incurred in performing work for, the Chapter 11 Trustee during the period of January 1, 2021 through February 28, 2021 (the “Compensation Period”). 6. Federal Rule of Bankruptcy Procedure 2002(a) requires applications for compensation to be served on the U.S. Trustee and all creditors in these cases. This Court has approved a notice procedure to provide notice to satisfy the requirements of the Rule in connection with Fredrikson & Byron, P.A.’s first application for compensation. [Minute Entry, 2/25/2020] Lighthouse has caused this fifth application to be served in the same manner as Fredrikson’s first and subsequent applications. Specifically, Lighthouse has caused this full application to be served on the parties in interest list specified in Local Rule 9013-3(a)(2). Additional parties required to be served by Rule 2002(a) have been served with the notice attached as Exhibit C. 7. On May 13, 2020, the Court appointed James A. Bartholomew to serve as Chapter 11 Trustee in the above-captioned cases. [ECF No. 207.] 8. On May 16, 2020, the Chapter 11 Trustee filed an application seeking to retain Lighthouse as financial adviser (“Employment Application”). [ECF No. 210.] The Court granted the Employment Application, a copy of which is attached hereto as Exhibit A. [ECF No. 214.]

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9. This is Lighthouse’s fifth interim fee application for compensation under 11 U.S.C. § 331. Lighthouse received court approval for the following fee application:
Table 1 on page 5. Back to List of Tables
Amount Date of Order Approving
Fee Application
Docket Number
$31,868.22 September 8, 2020 294
$16,539.00 October 13, 2020 306
$22,652.28 December 22, 2020 332
$18,374.45 March 2, 2021 354
10. Lighthouse did not receive a retainer in connection with its retention by the Chapter 11 Trustee. 11. No plan has been confirmed in these cases. SUMMARY OF SERVICES PROVIDED TO THE CHAPTER 11 TRUSTEE DURING THE COMPENSATION PERIOD 12. During the Compensation Period, Lighthouse advised the Chapter 11 Trustee on a wide variety of matters and was involved in many issues relevant to the Debtors’ cases. In total, during the Compensation Period Lighthouse provided reasonable and valuable services to the Chapter 11 Trustee in the amount of $11,583.35 and incurred reasonable and necessary expenses in the amount of $0.00. Attached hereto as Exhibit B is a copy of Lighthouse’s itemized invoice relating to the Compensation Period, which includes description of the task performed, the names of the professionals who worked on the task, and the amount charged for the task. The itemized invoice constitutes only a general statement of the services rendered and time expended without description of the pressure and constraints under which Lighthouse actually rendered such services. Lighthouse submits that its fee and expenses were actual, necessary, and reasonable under the circumstances of these cases and should be allowed. 13. Narrative descriptions of the services performed, the results achieved, the amount of time involved, and the amount requested in fees are provided below and are separated by task

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or proceeding. Given the interconnectedness of the issues in these Chapter 11 cases, certain of these tasks or proceedings may overlap with each other. A. Case Administration (Code B110): Hours 14.4; Fees $2,242.00 14. Lighthouse, among other things: processed Trustee payments; prepared the December and January monthly operating reports; prepared a supplemental September monthly operating reports; and analyzed cash receipts and expenses.
Table 1 on page 6. Back to List of Tables
Timekeeper
Name
Title Hourly
Rate
Total Hours
Billed
Total
Compensation
Patrick Finn Partner $465 1.3 $1,637.50
Pam Wigen Office
Manager
$125 13.1 $604.50
Grand Total 14.4 $2,242.00
or proceeding. Given the interconnectedness of the issues in these Chapter 11 cases, certain of these tasks or proceedings may overlap with each other. A. Case Administration (Code B110): Hours 14.4; Fees $2,242.00 14. Lighthouse, among other things: processed Trustee payments; prepared the December and January monthly operating reports; prepared a supplemental September monthly operating reports; and analyzed cash receipts and expenses. B. Claims Administration and Objections (Code B310): Hours 59.4; Fees $9,951.00 24. Lighthouse, among other things: addressed specific claim inquiries and bar date motions; analyzed claims objections and allowances of claims; and analyzed student claim amounts.
Table 2 on page 6. Back to List of Tables
Timekeeper Name Title Hourly Rate Total Hours Billed Total Compensation
Patrick Finn Partner $465 0.5 $232.50
Josh Clark Associate $165 58.9 $9,718.50
Grand Total 59.4 $9,951.00
25. All services performed by Lighthouse were necessary to the administration of these cases or were beneficial toward the successful completion of these cases at the time such services were rendered. The services were performed in a reasonable amount of time commensurate with the complexity, importance, and nature of the problem, issue, or task addressed. The amount requested in this Application is reasonable compensation for actual and necessary services rendered by Lighthouse based on the nature, extent, and value of such services, the time spent on

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such services, and the cost of comparable services other than in cases under Title 11 of the United States Code. 26. All services for which Lighthouse requests compensation were performed on behalf of the Chapter 11 Trustee and not on behalf of any other person. Lighthouse has not entered into any agreement with any other party for the purpose of fixing fees or other compensation for services rendered or expenses incurred in excess of the compensation allowed by law. EXPENSES 27. Lighthouse has not incurred expenses during the Compensation Period. LEGAL BASIS 28. This Court is authorized to award to professional persons employed by section 1103 of the Bankruptcy Code “reasonable compensation for actual, necessary services rendered by the … attorney[s] and by any paraprofessional person[s] employed by any such person, and … reimbursement for actual, necessary expenses.” 11 U.S.C. § 330. The Court must consider the nature, extent and value of such services, taking into account all relevant factors to determine whether the request for payment in connection with such services is fair and reasonable. Id. The services Lighthouse provided during the Compensation Period were actual, reasonable, and necessary services on behalf of the Chapter 11 Trustee, and the fees and expenses requested in this Application are fair and reasonable under the circumstances of these cases. PRIOR APPLICATION 29. Lighthouse has made no other request for the relief requested herein. CONCLUSION WHEREFORE, Lighthouse Management Group, Inc. respectfully requests that the Court enter an order (i) granting the Application; (ii) allowing Lighthouse its fees incurred during the Compensation Period in the amount of $11,583.35 and reimbursement of expenses in the amount

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of $0.00; (iii) authorizing the Chapter 11 Trustee to pay Lighthouse its allowed fees and expenses; and (iv) granting such other relief as is just and proper. Dated: April 14, 2021 /s/ Edwin H. Caldie Edwin H. Caldie (#0388930) Phillip J. Ashfield (#0388990) STINSON LLP 50 South Sixth Street Suite 2600 Minneapolis, MN 55402 Telephone: 612.335.1500 Facsimile: 612.335.1657 Email: ed.caldie@stinson.com Email: phillip.ashfield@stinson.com COUNSEL FOR THE CHAPTER 11 TRUSTEE

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EXHIBIT A (Order Granting Employment Application)

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UNITED STATES BANKRUPTCY COURT FOR THE DISTRICT OF MINNESOTA In re: Jointly Administered Under Case No. 19-33629 (WJF) Minnesota School of Business, Inc., Globe University, Inc., Case No. 19-33629 Case No. 19-33632 Debtors. Chapter 11 Cases ORDER AUTHORIZING THE EMPLOYMENT OF LIGHTHOUSE MANAGEMENT GROUP AS FINANCIAL ADVISOR This matter is before the court on the application by the appointed Chapter 11 Trustee, James A. Bartholomew on his application seeking an order to employ Lighthouse Management Group, Inc. as financial advisor to the Trustee in the above captioned cases. It appears necessary for the Trusteeto employ a financial adviser. It appears that Lighthouse Management Group, Inc. does not hold or represent an interest adverse to the estates and that they are disinterested within the meaning of 11 U.S.C. § 327(a). IT IS ORDERED: 1. The Trustee may employ Lighthouse Management Group, Inc. upon the basis set forth in the Application, subject to the provisions of 11 U.S.C. §§ 328 and 330. 2. Lighthouse Management Group, Inc. is authorized to schedule a hearing for allowance of its professional fees and expenses under 11 U.S.C. §§ 330 and 331 not more than once every sixty (60) days. (cid:18)(cid:72)(cid:18)(cid:3)(cid:58)(cid:76)(cid:79)(cid:79)(cid:76)(cid:68)(cid:80)(cid:3)(cid:45)(cid:17)(cid:3)(cid:41)(cid:76)(cid:86)(cid:75)(cid:72)(cid:85)Dated: _M__a_y_1_8_,_2_0_20________ William J. Fisher United States Bankruptcy Judge (cid:49)(cid:50)(cid:55)(cid:44)(cid:38)(cid:40)(cid:3)(cid:50)(cid:41)(cid:3)(cid:40)(cid:47)(cid:40)(cid:38)(cid:55)(cid:53)(cid:50)(cid:49)(cid:44)(cid:38)(cid:3)(cid:40)(cid:49)(cid:55)(cid:53)(cid:60)(cid:3)(cid:36)(cid:49)(cid:39)(cid:3)(cid:41)(cid:44)(cid:47)(cid:44)(cid:49)(cid:42)(cid:3)(cid:50)(cid:53)(cid:39)(cid:40)(cid:53)(cid:3)(cid:50)(cid:53)(cid:3)(cid:45)(cid:56)(cid:39)(cid:42)(cid:48)(cid:40)(cid:49)(cid:55)(cid:41)(cid:76)(cid:79)(cid:72)(cid:71)(cid:3)(cid:68)(cid:81)(cid:71)(cid:3)(cid:39)(cid:82)(cid:70)(cid:78)(cid:72)(cid:87)(cid:3)(cid:40)(cid:81)(cid:87)(cid:85)(cid:92)(cid:3)(cid:80)(cid:68)(cid:71)(cid:72)(cid:3)(cid:82)(cid:81)(cid:3)05/18/2020

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EXHIBIT B (Invoice for Compensation Period)

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Lighthouse Management Group, Inc. 900 Long Lake Road Suite 180 New Brighton, MN 55112 (651) 323-2260 www.lighthousemanagement.com April 06, 2021 Minnesota School of Business, Inc. Invoice Number: 4568 Invoice Period: 01-04-2021 - 02-28-2021 Payment Terms: Upon Receipt RE: Minnesota School of Business, Inc. Chapter 11 Time Details Date Professional Activity Hours Rate Amount B110 Case Administration 01-18-2021 Pam Wigen B110 Case Administration 5.60 125.00 700.00Work on December MOR. Update fee app tracker. 01-20-2021 Patrick Finn B110 Case Administration 0.40 465.00 186.00Review and approve MOR. 01-25-2021 Pam Wigen B110 Case Administration 0.50 125.00 62.50Process Q4 Trustee Fees and email re same. 02-07-2021 Patrick Finn B110 Case Administration 0.70 465.00 325.50Work on resolution of guest access to teams site. Analysis of cash receipts and expenses through12/31/20. 02-12-2021 Pam Wigen B110 Case Administration 0.70 125.00 87.50Update fee application folders and tracker for MOR. 02-15-2021 Pam Wigen B110 Case Administration 0.70 125.00 87.50Work on January 20201 MOR. Page 1 of 4

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Work on January MOR. 02-17-2021 Pam Wigen B110 Case Administration 2.80 125.00 350.00Work on January 20201 MOR. 02-19-2021 Pam Wigen B110 Case Administration 0.80 125.00 100.00Complete, review and file January MOR. 02-19-2021 Patrick Finn B110 Case Administration 0.20 465.00 93.00Review MOR 02-24-2021 Pam Wigen B110 Case Administration 0.80 125.00 100.00Generate October - December supplemental MOR reports for filing. 14.40 2,242.00 B310 Claims Administration and Objections 01-04-2021 Josh Clark B310 Claims Administration and Objections 1.20 165.00 198.00Analyze and review model of estimated payments on federal student loans. (1.2) 01-05-2021 Josh Clark B310 Claims Administration and Objections 2.40 165.00 396.00Prepare for and attend conference with counsel re: federal loan payment estimate model. (2.4) 01-06-2021 Josh Clark B310 Claims Administration and Objections 4.60 165.00 759.00Revise estimated interest model by adding in Bank of ND interest estimate dataset. (4.6) 01-07-2021 Josh Clark B310 Claims Administration and Objections 5.20 165.00 858.00Revise interest estimate model to allow for more robust calculations of different scenarios.(4.5)Analyze outcome under different assumptions.(0.7) 01-08-2021 Josh Clark B310 Claims Administration and Objections 0.30 165.00 49.50Review interest estimate model. (0.3) 01-11-2021 Josh Clark B310 Claims Administration and Objections 0.90 165.00 148.50Prepare written summary of methodology used in private interest estimate calculation model (0.9) 01-13-2021 Josh Clark B310 Claims Administration and Objections 3.30 165.00 544.50Further refinement of interest estimate model. (3.3) 01-14-2021 Josh Clark B310 Claims Administration and Objections 2.60 165.00 429.00Revise interest estimate model to include a better formatted detailed student by student levelanalysis. (1.5) Prep for and attend conference with counsel. (1.1) 01-15-2021 Josh Clark B310 Claims Administration and Objections 0.40 165.00 66.00Review budget of Globe/MSB Real Estate (0.4) 01-18-2021 Josh Clark B310 Claims Administration and Objections 1.70 165.00 280.50Continued budget review of MSB/Globe Real Estate (1.7) Page 2 of 4

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Analysis of claims and review of process determining validity of student claims. 01-19-2021 Josh Clark B310 Claims Administration and Objections 3.60 165.00 594.00Prepare for and attend conference with A. Welle re updates to model (1.2) Revise interest estimatemodel (2.0) Begin preliminary analysis of bankruptcy claims. (0.4) 01-20-2021 Josh Clark B310 Claims Administration and Objections 3.00 165.00 495.00Analysis of individual proof of claim forms. (1.8) Correspondence with K. Phillips re same (0.2)Initial review of student loan servicer responses re: interest payment data. (1.0) 01-21-2021 Josh Clark B310 Claims Administration and Objections 6.20 165.00 1,023.00Prep for and attend conference with K. Phillips regarding individual proof of claim forms and basisfor objections (1.0) . Download and catalogue individual POC's. Review and compile into database. (2.2) Continued review of MOHELA servicer response data. Compile statistical analysis of newresponses from servicers. Integrate into interest estimate model. (3.0) 01-22-2021 Josh Clark B310 Claims Administration and Objections 3.00 165.00 495.00Review and analysis of individual POC forms and compile into dataset for Omnibus Objection. (3.0) 01-25-2021 Josh Clark B310 Claims Administration and Objections 0.70 165.00 115.50Review of Bankruptcy Claimants Summary spreadsheet (0.7) 01-26-2021 Josh Clark B310 Claims Administration and Objections 3.50 165.00 577.50Correspondence with A. Welle re: servicer responses and balance of principal refunds owed tostudents (0.3) Analysis re: same (1.5) Correspondence with J. Herrmann re: Bankruptcy ClaimantsSummary spreadsheet. (0.2) Review of Bankruptcy Claimants Summary spreadsheet (1.5) 01-27-2021 Josh Clark B310 Claims Administration and Objections 0.70 165.00 115.50Prepare for and conference with A. Welle re: principal refund. Prelim analysis of data provided re: same. (0.7) 01-28-2021 Josh Clark B310 Claims Administration and Objections 0.60 165.00 99.00Download additional spreadsheet from A. Welle dataroom. (0.3) Preliminary analysis re: same. (0.3) 01-29-2021 Josh Clark B310 Claims Administration and Objections 2.00 165.00 330.00Review and analysis of principal payment spreadsheet data from A. Welle. (2.0) 02-02-2021 Josh Clark B310 Claims Administration and Objections 0.30 165.00 49.50Review interest estimate spreadsheet. Look up individual example of student. (0.3) 02-04-2021 Josh Clark B310 Claims Administration and Objections 1.80 165.00 297.00Prepare for and conference with A. Curtis. (0.2) Review interest estimate spreadsheet (1.4). Provide spreadsheet in data room (0.2) 02-08-2021 Josh Clark B310 Claims Administration and Objections 0.40 165.00 66.00Review and address correspondence from A. Curtis related to interest estimate model. (0.3) Set upconference call re: same. (0.1) Page 3 of 4

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Prepare for and attend conference call with A. Curtis to review methodology and interest estimatemodel. (1.9) 02-11-2021 Josh Clark B310 Claims Administration and Objections 3.60 165.00 594.00Review and analyze individual POC's and update spreadsheet accordingly for K. Phillips omnibusobjection review. (3.6) 02-16-2021 Josh Clark B310 Claims Administration and Objections 0.80 165.00 132.00Revise model to cap 55 students with limited claim at $1,100. (0.6) Review change to cashcomponent of claim (0.1) Review and address correspondence with A. Welle re: cash componentof restitution claims. (0.1) 02-17-2021 Josh Clark B310 Claims Administration and Objections 0.50 165.00 82.50Review items sent to DOJ for analysis. (.5) 02-22-2021 Josh Clark B310 Claims Administration and Objections 3.10 165.00 511.50Review of Bankruptcy Claims. (1.6) Review of interest estimate model to address questions. (1.5) 02-24-2021 Josh Clark B310 Claims Administration and Objections 0.60 165.00 99.00Further review and analysis of bankruptcy claims and interest estimate model. (0.6) 59.40 9,951.00 Total 12,193.00 Time Summary Activity Professional Hours Amount B110 Case Administration Pam Wigen 13.10 1,637.50 Patrick Finn 1.30 604.50 B310 Claims Administration and Objections Josh Clark 58.90 9,718.50Patrick Finn 0.50 232.50 Total Fees 12,193.00 Subtotal for this Invoice 12,193.00 5% Discount (Fees Only) (609.65) Total for this Invoice 11,583.35 Page 4 of 4

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EXHIBIT C (Notice)

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UNITED STATES BANKRUPTCY COURT FOR THE DISTRICT OF MINNESOTA Jointly Administered Under Case No. 19-33629 (WJF) In re: Minnesota School of Business, Inc., Case No.: 19-33629 Globe University, Inc., Case No.: 19-33632 Chapter 11 Cases Debtors. NOTICE OF HEARING ON INTERIM APPLICATIONS FOR ALLOWANCE OF FEES AND EXPENSES OF CHAPTER 11 TRUSTEE PROFESSIONALS AND NOTICING AGENT TO THE DEBTORS TO: Parties filing Proofs of Claim and Trade Creditors in the above-referenced cases. 1. The Applications for allowance of professional fees and expenses for the court-appointed Chapter 11 Trustee, James A. Bartholomew (the “Trustee”), Lighthouse Management Group, Inc. (“Lighthouse”), Stinson LLP (“Stinson”), Winthrop & Weinstine, P.A. (“Winthrop”), and Donlin, Recano & Company, Inc. (“Donlin”) are set for hearing on Tuesday, May 11, 2021, at 9:30 a.m., or as soon thereafter as counsel may be heard, in Courtroom 2B, 232 Warren E. Burger Federal Building and U.S. Courthouse, 316 North Robert Street, St. Paul, Minnesota 55101. You may obtain a copy of the Applications from the undersigned or online at https://www.donlinrecano.com/Clients/msb/Dockets. 2. In the Applications, the Trustee seeks allowance of $17,652.76 in compensation and expenses, Stinson seeks allowance of $76,922.50 in post-petition fees and expenses, Winthrop seeks $4,476.00 in post-petition fees and expenses, Lighthouse seeks $11,583.35 in post-petition fees and expenses, and Donlin seeks $5,897.63 in post-petition fees and expenses.

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3. You are not required to file a response or attend the hearing, but if you do so, any response to the Applications must be filed and served not later than Thursday, May 6, 2021, which is five days before the date set for hearing (including Saturday, Sunday, and holidays). UNLESS A RESPONSE OPPOSING THE APPLICATION IS TIMELY FILED, THE COURT MAY GRANT THE APPLICATION WITHOUT A HEARING Dated: April 14, 2021 /s/ Edwin H. Caldie Edwin H. Caldie (#0388930) Phillip J. Ashfield (#0388990) STINSON LLP 50 South Sixth Street Suite 2600 Minneapolis, MN 55402 Telephone: 612.335.1500 Facsimile: 612.335.1657 Email: ed.caldie@stinson.com Email: phillip.ashfield@stinson.com COUNSEL FOR THE CHAPTER 11 TRUSTEE

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UNITED STATES BANKRUPTCY COURT FOR THE DISTRICT OF MINNESOTA Jointly Administered Under Case No. 19-33629 (WJF) In re: Minnesota School of Business, Inc., Case No.: 19-33629 Globe University, Inc., Case No.: 19-33632 Chapter 11 Cases Debtors. ORDER ALLOWING FIFTH INTERIM APPLICATION FOR COMPENSATION AND REIMBURSEMENT OF EXPENSES TO LIGHTHOUSE MANAGEMENT GROUP, INC. This matter came before the court on the Fifth Interim Application of Lighthouse Management Group, Inc. for allowance of compensation and reimbursement of expenses as Financial Adviser for the Chapter 11 Trustee, January 1, 2021 through February 28, 2021. IT IS ORDERED: 1. Compensation to Lighthouse Management Group, Inc. in the amount of $11,583.35 is ALLOWED. 2. The Chapter 11 Trustee may pay Lighthouse Management Group, Inc. the amounts allowed under Paragraph 1. Dated: ___________________, 2021 ______________________________ William J. Fisher United States Bankruptcy Judge

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