OPENLEARNING LIMITED — Capital/Financing Update 2025

Aug 4, 2025

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ASX Announcement | 5 August 2025

OpenLearning Enters Enterprise LMS Market with Elcom Distribution Deal

Sydney, Australia, 5[th] August 2025: OpenLearning (ASX: OLL) the AI powered learning management system is pleased to announce that it has signed a 3-year reseller partnership agreement with Elcom Technology Pty Ltd ("Elcom"), a leading provider of intranet and content management systems for corporate and government clients across Australia.

Highlights :

• OpenLearning signs reseller agreement with Elcom, a leading intranet and content management provider in Australia

• Elcom services over 200 corporate clients across all sectors including NFP, retail, finance, healthcare, logistics, and government

• Elcom to bundle OpenLearning’s enterprise LMS into its offering for corporate clients

• Partnership strengthens OpenLearning’s entry into the Australian corporate training market

• Elcom recently acquired by Vela APX, a division of Vela Software Group and Constellation Software Inc. (TSX: CSU) enhancing reach and strategic stability

Under the agreement, Elcom will offer OpenLearning’s enterprise-grade learning management system (LMS) as a bundled solution alongside its existing suite of intranet and digital workplace products. This partnership provides OpenLearning with a direct go-to-market channel into the corporate sector through Elcom’s established client base, which includes over 200 corporate customers in Australia across sectors such as NFP, retail, finance, healthcare, logistics, and government.

OpenLearning is making inroads into the Australian corporate sector in 2025 and has developed a strong pipeline of prospective enterprise customers seeking to utilise its LMS for internal training. This partnership with Elcom will accelerate adoption by providing access to a broader customer base through an established and trusted provider of corporate digital solutions.

The bundled offering will enable Elcom’s clients to deliver engaging, scalable, and outcome-driven learning experiences for employee training, onboarding, compliance, and professional development — all within a unified digital environment powered by both companies.

The economic model of the partnership provides OpenLearning and Elcom with the right vehicle to generate revenue from end-user licenses and services, while maintaining a strong focus on the experience of the end-user.

The partnership aligns with OpenLearning’s strategy to expand its SaaS business into the enterprise and government sectors, leveraging its scalable LMS platform and generative AI tools to meet the evolving needs of lifelong learning and workforce development.

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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Ryan Bloch, General Manager of Elcom said , “We’re thrilled to be working with OpenLearning to bring a best-in-class LMS to our customers. Many of our clients are seeking integrated solutions that enable more effective internal training and compliance across their organisations. By partnering with OpenLearning, we can offer a seamless and powerful learning experience that complements our existing intranet and digital workplace capabilities.”

OpenLearning CEO, Adam Brimo said , “We’re excited to partner with Elcom to bring our enterprise LMS to the corporate sector. This partnership combines Elcom’s trusted digital workplace platform with OpenLearning’s advanced learning management system and AI-powered course tools, enabling organisations to upskill their workforce and foster a strong learning culture. With Elcom’s extensive reach and deep relationships with corporate clients, this collaboration accelerates our growth into a key new market segment.”

The agreement has a commencement date of 5[th] August 2025 and an initial term of 3 years from the commencement date with the option for it to renewed for a further 2 years. There are no minimum fees payable under the agreement by either Elcom or OpenLearning, there is no exclusivity on either party and therefore the agreement is not considered financial material at this time. However, both companies consider the agreement to be strategically important as it provides a direct channel to market for the OpenLearning LMS and a revenue opportunity, depending on the uptake from Elcom’s customer-base. Besides what is outlined above, all other terms of the agreement with Elcom are customary for reseller agreements, including standard termination provisions.

About ELCOM

Founded in 1996, Elcom is an Australian software company that delivers a comprehensive intranet and content management system used by mid to large-sized organisations across corporate, government, education, and not-for-profit sectors. The Elcom Digital Experience Platform powers engaging employee, member, and customer portals, helping organisations drive productivity and improve collaboration. Elcom services over 200 corporate clients in Australia and is now part of Constellation Software Inc. following its recent acquisition.

Elcom was recently acquired by Vela APX, a division of Vela Software Group and Constellation Software Inc. (TSX: CSU), one of the world’s leading software investment and operations firms. The acquisition provides Elcom with enhanced strategic support and long-term stability, further reinforcing the value of the partnership for OpenLearning and its entry into the enterprise market.

More information about Elcom be found here: https://www.elcom.com.au/why-elcom/about-us

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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Investor Relations

Maria Clemente Matthew Reede Joint Company Secretary Dominion Partners P: +61 2 8072 1426 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