OPENLEARNING LIMITED — Capital/Financing Update 2025

Sep 14, 2025

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ASX Announcement | 15 September 2025

OpenLearning Signs A$150,000 Platform SaaS Agreement With Systems Plus College Foundation

Manila, Philippines, 15[th] September 2025: OpenLearning Limited (ASX: OLL) the AI powered learning management system (LMS) is pleased to announce that Systems Plus College Foundation (SPCF), a comprehensive education provider in the Philippines, has entered into a five-year usage-based software-as-a-service (SaaS) agreement to utilise the OpenLearning’s AI-powered LMS across all of its institutions from grade school through to college.

Highlights

• SPCF has signed a 5-year usage-based SaaS agreement with OpenLearning to utilise its LMS for a minimum of 10,000 students per year.

• Total minimum contracted SaaS fees of circa A$150,000 (US$100,000) over the 5-year period, with the potential for additional revenue based on usage.

• SPCF selected OpenLearning after evaluating multiple LMS platforms.

• Strengthens OpenLearning’s position as a leading AI-powered LMS in the Philippines.

SPCF will utilise OpenLearning’s next-generation LMS to deliver engaging, outcomes-focused learning experiences at scale across all its institutions. OpenLearning’s platform combines social and projectbased learning with AI-assisted course design and facilitation, enabling institutions to rapidly develop high-quality online and blended programs while improving learner engagement and retention.

About Systems Plus College Foundation

Founded in 1985 in Angeles City, Systems Plus College Foundation has grown from a specialist training provider in data processing into a comprehensive, non-sectarian institution offering basic education through to graduate programs. With more than 18,000 students across multiple campuses in Pampanga and Metro Manila, SPCF is recognised for its strong focus on technology and innovation and has been designated a Center of Development in IT Education by the Commission on Higher Education in the Philippines.

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Figure 1. Systems Plus College Foundation campus in Angeles City, Pampanga Province, the Philippines. Source: Wikipedia.

Over nearly four decades, SPCF has established itself as a leading private education provider with a mission to deliver holistic, world-class education. Its reputation, scale, and breadth of programs make it a significant partner for OpenLearning, providing a strong platform for technology-enabled learning and underscoring the growing demand for an advanced, AI-powered LMS in Southeast Asia.

OpenLearning Limited (ASX: OLL) ACN 635 890 390 • Phone: +61 2 8294 9686 • Web: www.openlearning.com Address: The Cooperage, Level 2, Suite 9, 56 Bowman Street, Pyrmont, NSW 2009

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OpenLearning CEO, Adam Brimo said , “SPCF’s decision to partner with OpenLearning highlights the growing demand for AI-powered learning platforms that elevate student engagement and outcomes. Our usage-based model allows SPCF to scale confidently, while our tools help educators design high quality learning experiences faster. We look forward to supporting SPCF as they deploy OpenLearning across their network of institutions.”

The agreement was executed in the Philippines on 12[th] September 2025 by the Company’s representatives in the Philippines and the final copies of the agreement were received by the Company after 5pm Philippine Standard Time on 12[th] September 2025. The agreement has a commencement date of 12[th] September 2025. The SaaS fees payable under the agreement are determined by the number of unique students from SPCF who utilise the LMS each year, with a fixed minimum of 10,000 students each year. Besides what is outlined above, all other terms of the agreement with SPCF are customary for platform SaaS agreements with universities (a summary of which was included in section 10.3.1 of the Company’s IPO prospectus, released to the ASX announcements platform on 10 December 2019), including termination provisions and service level agreements that are standard for agreements of this nature.

The minimum annual fees payable under the SaaS agreement between OpenLearning and SPCF are not financially material, however, the agreement is considered to be strategically important as it demonstrates the Company’s continued traction in the Philippines. Additionally, the selection of OpenLearning by SPCF has been publicised online and therefore the Companies believes that the terms of the agreement should be disclosed on the ASX.

Ends.

Authorised by:

Adam Brimo Group CEO & Managing Director

OpenLearning Limited (ASX: OLL) ACN 635 890 390 • Phone: +61 2 8294 9686 • Web: www.openlearning.com Address: The Cooperage, Level 2, Suite 9, 56 Bowman Street, Pyrmont, NSW 2009

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Company Secretary & Investor Relations

For further information, please contact:

Company

Investor Relations

Sally Greenwood or Maria Clemente Matthew Reede Joint Company Secretary Dominion Partners P: +61 2 8072 1435 P: +61 414 483 054 E: investors@openlearning.com E: matt@dominion.partners

About OpenLearning

OpenLearning is an AI powered learning management system.

The platform provides a full suite of tools for online learning, course creation and delivery, for education institutions, corporations and government.

OpenLearning is a trusted partner to more than 250 leading education providers, who have delivered tens of thousands of courses to over 3 million learners through its platform.

With a strong position in the Australian and Malaysian higher education sectors, and a growing presence in the Philippines, Indonesia and India, OpenLearning is revolutionising the way education is accessed and delivered globally.

To learn more, please visit: solutions.openlearning.com

OpenLearning Limited (ASX: OLL) ACN 635 890 390 • Phone: +61 2 8294 9686 • Web: www.openlearning.com Address: The Cooperage, Level 2, Suite 9, 56 Bowman Street, Pyrmont, NSW 2009