CLUEY LTD — Investor Presentation 2021

Oct 27, 2021

CLUEY LTD (CLU)

28 OCTOBER 2021

2021 ANNUAL GENERAL MEETING PRESENTATION

Online Q&A

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AGENDA

Chairman’s address 1.

1. Q1FY22 Update (CFO)

32 . CEO’s Presentation and growth outlook– Q1FY22 Update

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OVERVIEW OF CLUEY

CLUEY AUGMENTS TRADITIONAL SCHOOLING FOR K-12 STUDENTS ACROSS AUSTRALIA WITH A RANGE OF COMPREHENSIVE LEARNING SERVICES

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Cluey is defining and leading this sector:

Core academic support services:

Co/extracurricular learning - the Cluey Academy:

• Live online 1-to-1 and small group tutoring, mapped to local curriculum

  • A clear and accelerating shift to online learning and support outside the classroom

• Holiday camps, after school and online learning programs

• A proprietary adaptive learning platform that supports each individual student’s needs and learning progression

• Coding and digital skills in high demand - Code Camp subsidiary largest provider in Australia

• In core academic services, data and proprietary learning analytics used to optimise every interaction and the learning experience

• Full national coverage for school years 2-10 in Maths and English and 11-12 in Maths, English and Chemistry

• Parents and students are increasingly seeking outside-of-school learning to supplement their skills and interests

• Continuous refinement and optimisation of existing services

• NAPLAN and LANTITE test preparation & asynchronous online practice sets

• Portfolio of learning services leveraging a common customer data layer

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FY21 Highlights

• Revenue of $15.9m exceeded Prospectus forecast and increase of 226% on FY20

• Gross Profit of $8.6m up 270% on FY20

• New Students of 17,382, an increase of 134% on FY20

• 250,613 student sessions delivered, an increase of 198% on FY20

• Variable CAC of $563, a reduction of 28% on FY20

Key Initiatives

• Expansion of products and services

• Extension into new geographies

• Extension into co/extracurricular

• Completed an IPO

• Selected as a provider by DOE, NSW

• Preparing launch in NZ

• Acquired Code Camp

• Completed capital raise

• Winner of Technology Scale-up Edtech Award

01

Chairman’s address

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02 CFO Presentation– Q1FY22 Update

Q1 FY22 SNAPSHOT

CLUEY CONTINUES TO BENEFIT FROM THE ACCELERATED TAKE-UP OF ONLINE ACADEMIC SUPPORT AS A RESULT OF THE SHIFT TO ONLINE LEARNING BY K-12 STUDENTS IN AUSTRALIA

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122,000 2.0x
Student sessions increase in New
in Q1 FY22, up students in Q1 FY22
132% from 53,000 (vs PCP)
1,625 2.3x
in PCP
Active tutors in increase in number
September 2021 of sessions in Q1
FY22 (vs PCP)
2.4x LTV:CAC 2.3x
$2,181 avg. life-time revenue increase in
(LTR) and $1,145 avg. life-time revenue [2] in Q1
value (LTV) per new student FY22 (vs PCP)
$468 2.4x
Variable CAC in Q1 increase in gross
FY22, down 18% from profit [2] in Q1 FY22
$570 in PCP [1] (vs PCP)
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Notes:

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1. PCP - prior corresponding period (“Q1 FY21”) 2. Revenue and gross profit result is unaudited

Q1 FY22 KEY OPERATING METRICS

CLUEY CONTINUES TO SCALE RAPIDLY. RECORD QUARTERLY REVENUE, NEW STUDENTS AND STUDENT SESSIONS

KEY OPERATING METRICS – Q1 FY22

Revenue[1] New Students[2] $7.9m 7,411 +134% PCP +101% PCP Student Sessions Variable CAC[3] / New Student 122k $468 +132% PCP -18% PCP

Q1 Revenue of $7.9m equal to 50% of total FY21 Revenue Q1 Variable CAC per new student of $468 a record low

The above metrics exclude Code Camp as this acquisition only completed on 1 October 2021.

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Notes: 1. Revenue (excluding GST) is unaudited. 2. New Students that completed a session in the period.

1. Variable CAC (customer acquisition costs) per student is a non-IFRS measure used for management purposes which represents variable acquisition expenditure for a period divided by new students with a session in the same period. Variable acquisition expenditure is calculated based on total marketing expenses, plus learning advisor (sales) employment costs and commission (included in employee benefits expense).

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03 CEO Address & presentation

CURRENT GROWTH IN A LARGE MARKET

Number of student sessions (‘000)

Estimated Australian market opportunity

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122.3
88.2
61.1
52.7
48.6
37.6
20.5
11.9 13.7
Q1FY20 Q2FY20 Q3FY20 Q4FY20 Q1FY21 Q2FY21 Q3FY21 Q4FY21 Q1FY22
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Total Revenue ($m)

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7.9
5.6
3.8
3.4
3.1
2.4
1.2
0.6 0.7
Q1FY20 Q2FY20 Q3FY20 Q4FY20 Q1FY21 Q2FY21 Q3FY21 Q4FY21 Q1FY22
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• Migration to learning outside the classroom and online in K-12 occurred pre-COVID

• Core business is continuing to scale rapidly

• Student sessions and revenues growing exponentially

• On average, every student we acquire today adds more to revenues than to costs

• Key competitive advantages - scale, technology, data and learning analytics

• Strong organic tailwinds

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Notes:

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1. Source: ACARA 2. Cluey voice of the customer research, September 2019, n=1,201

GROWING THE CORE FASTER

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DATA AND LEARNING ANALYTICS

Driving improvements and optimisation

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GEOGRAPHIC EXPANSION

First international market – New Zealand

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IMPROVEMENTS TO SERVICE

VOC research driving improvements to learning programs, content and features

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NEW BUSINESS MODELS

Launch of B2B sales and service delivery

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ADDING NEW SUBJECTS

Physics and Biology being launched January 2022

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STRATEGIC M&A

A range of complementary strategic M&A opportunities identified

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GROWTH OPPORTUNITIES ADJACENT TO THE CORE

PROPENSITY TO PURCHASE CO/EXTRA CURRICULAR PROGRAMS “COEX” IS EVEN HIGHER THAN TUTORING[1]

STRONG OPPORTUNITY TO CROSS-SELL AND UP-SELL[1]

Propensity to pay for service

Propensity to pay for service

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Definitely not + Probably not Might or might not Probably would + Definitely would
Tutoring 29% 35% 36%
COEX 26% 26% 48%
Coding 24% 26% 50%
Tutoring only Both Coding &
Animation 30% 27% 43% 7% 29% digital skills only
Digital
19%
Skills
Youtubing 38% 22% 40%
DJ’ing 56% 19% 25%
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Notes:

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1. Cluey VOC Research 2021 - Would you pay for this service for your primary school child? All primary parents, n=304

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CLUEY LTD (CLU)

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CONTACT US

Mark Rohald CEO Investor.relations@clueylearning.com

Greg Fordred CFO & Company Secretary Investor.relations@clueylearning.com

Melanie Singh Investor Relations Melanie@nwrcommunications.com.au