OPENLEARNING LIMITED — Capital/Financing Update 2025

Nov 2, 2025

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ASX Announcement | 3[rd] November 2025

OpenLearning Signs A$175,000 Platform SaaS Agreement With Universitas Muhammadiyah Purwokerto

Central Java, Indonesia, 3[rd] November 2025: OpenLearning Limited (ASX: OLL) the AI powered learning management system (LMS) (‘OpenLearning’ or ‘The Company’) is pleased to announce that Universitas Muhammadiyah Purwokerto (UMP), the largest private university in western Central Java, has signed a five-year usage-based software-as-a-service (SaaS) agreement to utilise OpenLearning’s AI-powered LMS across its campus.

Highlights

• UMP has signed a 5-year usage-based SaaS agreement with OpenLearning to utilise its LMS for approximately 19,000 students per year.

• Total minimum contracted SaaS fees of circa A$175,000 over the 5-year period, with the potential for additional revenue based on usage.

• UMP is part of the Muhammadiyah network, one of the largest Islamic educational organisations in Indonesia, operating 89 universities nationwide as of 2024.

• UMP selected OpenLearning after evaluating multiple LMS platforms and following successful implementations of the platform at other Muhammadiyah universities.

• Strengthens OpenLearning’s position as a leading AI-powered LMS provider across Southeast Asia, building on its traction in Malaysia and the Philippines.

UMP will utilise OpenLearning’s next-generation LMS to deliver engaging, outcomes-focused learning experiences at scale across its campus in Central Java. OpenLearning’s platform combines social and project-based learning with AI-assisted course design and facilitation, enabling institutions to rapidly develop high-quality courses while improving learner engagement and retention.

About Universitas Muhammadiyah Purwokerto

Founded in 1965, Universitas Muhammadiyah Purwokerto (UMP) is a leading private university located in Central Java, Indonesia. UMP offers a wide range of undergraduate and postgraduate programs and is recognised for its commitment to academic excellence and social impact within the Muhammadiyah network — one of the largest Islamic non-governmental organisations in Indonesia.

The Muhammadiyah society operates 89 universities and higher education institutions across the country, educating hundreds of thousands of students each year.

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Figure 1. UMP’s campus in Central Java. https://ump.ac.id/profil-1-Profil.Universitas.html

OpenLearning’s partnership with UMP builds upon the platform’s existing use within the Muhammadiyah system and signifies the growing presence of its LMS in Indonesia.

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 , “We’re honoured to partner with Universitas Muhammadiyah Purwokerto, part of one of Indonesia’s most respected and extensive higher education networks. This agreement represents a milestone for OpenLearning in Indonesia and underscores the growing demand for our AI-powered LMS to deliver engaging, outcomes-based learning experiences at scale.

We look forward to supporting UMP’s adoption of OpenLearning and aim for it to be a case study for other universities in the network, demonstrating how technology can increase access and enhance the quality of online and blended education.”

The agreement was signed and exchanged after 7pm Australian Eastern Standard Time on 31[st] October 2025. The agreement has a commencement date of 17[th] November 2025. The SaaS fees payable under the agreement are determined by the number of unique students from UMP who utilise the LMS each year, with a fixed minimum of circa 19,000 students each year. Besides what is outlined above, all other terms of the agreement with UMP 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 UMP are not financially material, however, the agreement signifies the Company’s continued traction in Southeast Asia and its largest contract to date in Indonesia. Additionally, the selection of OpenLearning by UMP is likely to be publicised online and therefore the Company 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