OPENLEARNING LIMITED — AGM Information 2025

May 29, 2025

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CEO Presentation Annual General Meeting May 2025

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2024 Trading Update

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2024 Trading Highlights

Platform SaaS Revenue Accelerated 23%

Growth in our flagship LMS accelerated during the 2024 year. New licensing deals were signed across the region with strength in Australia and Malaysia.

Average Revenue Per Customer Up 17%

We now compete globally as an LMS – Learning Management System which enables us to focus on larger value contracts. This has driven average revenues per customer to new highs.

Course Magic Shows Strong Growth

Course Magic was launched and propagated globally with limited advertising. We had a total of 126 subscribers by year end 2024.

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2024 SaaS Revenue Growth Accelerates

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SaaS ARR growth accelerated 23% YoY by end 2024. The business has now delivered 12 consecutive quarters of SaaS ARR growth >15%.

Average revenue per customer continues to increase and now averages $9,767 per B2B customer . Our AI tools have driven utilisation rates up.

Our partnership with Meshed began in 2024 and we have now signed 6 customers with Meshed.

The Q1 FY25 we launched the examinations and assessments feature which has further enhance our SaaS platform LMS offering.

SaaS ARR by Quarter

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Q4/24 Cashflow & Funding

Net Cash Outflows Decrease by 52%

A significant improvement in net cash outflows in Q4 year on year as costs continue to fall and revenues continue to rise. While growth spending remains on the agenda, we have been able to leverage our technology platform to make these consistent improvements.

Cash Receipts Up 45%

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Cash receipts from customers improved as a result of both sales growth and the OpenLearning started in 2012 in seasonal nature of licenses. Improvements came from both divisions: Australia and expanded into Malaysia in 2015 and now built up a song - SaaS up 33% YoY position in each market.- Marketplace up 51% YoY

We believe there are significant Available Funding & Cash Position opportunities to leverage our brand

awareness in these markets to sell our The company had almost $2m in available funding including cash on hand and LMS. the unused loan facility at year end 2024. Our operational cash requirement has also been falling each quarter as we progress toward break even.

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Physical Offices
Reseller Markets
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2025 Operations Update

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Malaysia

Asia Metropolitan University AIMST University University Malaysia Sabah IMU University Malaysia

Philippines

National University St Paul University AMA University SRK Education Group

Indonesia

Universitas Muhammadiyah Sidenreng Rappang

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Australia

Anglicare, Abbey College, VET Nexus Canterbury Institute of Management Crown Institute of Management

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The Philippines - Expansion

Philippines Market

The Philippines is a market of 115 million people. The education sector is made up for 1,800 universities and colleges with a total student population of 4 million students enrolled in private and public universities. The Philippine EdTech market is valued at $240 million, with a compound annual growth rate (CAGR) of 12–15% from 2018 to 2023.[1]

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National University

National University has signed a platform SaaS agreement with OpenLearning. The university has 14 campus locations with 85,000 students and projects >100,000 students in the next couple of years.

St Paul University

St Paul University has signed a platform SaaS agreement with OpenLearning. The university has 10,000 students and is part of the Paulinian group of 6 universities.

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1 Market landscape of EdTech in Philippines 19/11/24. By: Angelo Miguel

https://www.aiiresearch.com/research/market-landscape-of-edtech-inphilippines?utm_source=chatgpt.com

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Technology

Student Recruitment

Examinations Feature

Uni Guide & Student Recruitment

Our new examination system has been released in January 2025. It includes question banks, gradebooks and marking rubrics and it completes the major features required in any full feature LMS.

Uni Guide is now fully integrated and offering students information about higher education programs from 70 institutions promoting 15,000 courses and degrees.

AI Features

We have now signed agent agreements with several universities to begin recruiting students in the second half of 2025.

Our embedded Generative AI features provide a unique selling O p enLearning started in 2012 in roposition for OpenLearning. It is now setting us apart from our Australia and expanded into Malaysia competitors. Over 3,000 new courses have been built using AI by in 2015 and now built up a song our customers. position in each market.

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Recent Wins

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Examinations Launch

UniGuide Agent Launch

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Penetration in Philippines

Growth of Corporate

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Recent Wins

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Course Magic

Employability Advantage

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Meshed Partnership

BEST Network

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Q & A

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Disclaimer

This presentation has been prepared by OpenLearning Limited ( The Company ). It does not purport to contain all the information that a prospective investor may require in connection with any potential investment in the Company. You should not treat the contents of this presentation, or any information provided in connection with it, as financial product advice or advice relating to legal, taxation or investment matters.

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Those intentions, expectations, future plans, strategy and prospects may or may not be achieved. They are based on certain assumptions, which may not be met or on which views may differ and may be affected by known and unknown risks. The performance and operations of the Company may be influenced by a number of factors, many of which are outside the control of the Company. No representation or warranty, express or implied, is made by the Company, or any of their directors, officers, employees, advisers or agents that any intentions, expectations or plans will be achieved either totally or partially or that any particular rate of return will be achieved.

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This document does not constitute any part of any offer to sell, or the solicitation of any offer to buy, any securities in the United States or to, or for the account or benefit of any “US person” as defined in Regulation S under the US Securities Act of 1993 (Securities Act). The Company shares have not been, and will not be, registered under the Securities Act or the securities laws of any state or other jurisdiction of the United States, and may not be offered or sold in the United States or to any US person without being so registered or pursuant to an exemption from registration including any exemption for qualified institutional buyers.

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Authorised by Adam Brimo

Managing Director & CEO

Investor Relations

Matthew Reede Dominion Partners +61 414 483 054

matt@dominion.partners

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