Company: GHC
Filing Date: 2025-06-27
Form Type: 11-K
Source: 0000104889-25-000049
Chunk: 3

Company: Graham Holdings Co
Filing Date: 2025-06-27
Form: 11-K
Chunk 3
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 opinion.

Our audit included performing procedures to assess the risks of material misstatement of the financial statements, whether due to error or fraud, and performing procedures that respond to those risks. Such procedures included examining, on a test basis, evidence regarding the amounts and disclosures in the financial statements. Our audit also included evaluating the accounting principles used and significant estimates made by management, as well as evaluating the overall presentation of the financial statements. We believe that our audit provides a reasonable basis for our opinion.

We served as the Plan’s auditor from 2012 to 2024.

/s/ Johnson Lambert LLP

Vienna, Virginia

October 4, 2024

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#### THE 401(k) SAVINGS PLAN FOR GHC AFFILIATES

### STATEMENTS OF NET ASSETS AVAILABLE FOR BENEFITS
| Assets                                                         |     | As of December 31, 
 2024               |            |     | 2023 |            |
|:---------------------------------------------------------------|:----|:-------------------|-----------:|:----|:-----|-----------:|
| Plan interest in Graham Holdings Company Master Trust (Note 5) |     | $                  | 75,706,100 |     | $    | 79,166,903 |
| Total investments                                              |     |                    | 75,706,100 |     |      | 79,166,903 |
| Receivables                                                    |     |                    |            |     |      |            |
| Contributions receivable from participants                     |     |                    |    142,551 |     |      |          — |
| Contributions receivable from employer                         |     |                    |      1,923 |     |      |          — |
| Notes receivable from participants                             |     |                    |    761,725 |     |      |     97,801 |
| Total receivables                                              |     |                    |    906,199 |     |      |     97,801 |
| Net assets available for benefits                              |     | $                  | 76,612,299 |     | $    | 79,264,704 |

See the accompanying notes to the financial statements.

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#### THE 401(k) SAVINGS PLAN FOR GHC AFFILIATES

### STATEMENT OF CHANGES IN NET ASSETS AVAILABLE FOR BENEFITS
|                                                                               |     | Year Ended December 31, 2024 |             |
|