National Co. For Learning & Education · TADAWUL:4291
National Co. For Learning & Education — National Company for Learning and Education — Q3 2026 Earnings Presentation
33 slides from National Co. For Learning & Education's earnings presentation, 2026
Slide 1: Investor Presentation Q3 2026
INVESTOR PRESENTATION Q3 2026
Slide 2: Disclaimer
Disclaimer Information contained in this document is subject to change without further notice and it may not contain all material inform ati on concerning National Company for Learning and Education and its subsidiaries (the Company). The Company is not liable or responsible of accuracy o f referenc
Slide 3: Overview
Overview
Slide 4: NCLE is celebrating its 68th anniversary since its inception in 1958
NCLE is celebrating its 68th anniversary since its inception in 1958 1958 68 Years 17 35.2 k 45.3 k Of Excellence in School Campuses Enrolled Students Existing Students K-12 Education Under Operation Capacity During 2025-2026 3.5 K 14 4 21% CAGR Academic Staff Greenfield Schools New Schools will be
Slide 5: Enrolled students grew to 35.2 k in Q3 2026 compared to 31.9 k in Q3 2025
Enrolled students grew to 35.2 k in Q3 2026 compared to 31.9 k in Q3 2025 TNS – TNS – TNS – TN IS – TNS – Al-Ghad – TNS – TNS – TNIS – TNIS – Al-Ghad – TNS – TNS – National MEIA - Al-Khwarizmi Al-Salam Al-Rayyan Al-Rawabi Al-Nozha Qurtubah Buraidah King Abdullah Al-Qairwan Al-Aridh Dhahran Al-Aridh
Slide 6: Operational Updates
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Slide 7: Educational Excellence Award
Educational Excellence Award Six NCLE schools received the Excellence Award by 2025. This recognition was earned after attaining excellence in the four standards of the National Program for School Evaluation and Excellence. The schools were honored by His Excellency the Minister of Education and the
Slide 8: Labor Award (Localization Track)
Labor Award (Localization Track) We are proud to share that NCLE has once again received the prestigious Labor Award in the Localization Track for 2025 marking a clear acknowledgment of our commitment to empowering national talent. This recognition, reinforces our operational strength and strategic
Slide 9: King Abdulaziz Quality Award
King Abdulaziz Quality Award We’re proud to announce that NCLE has received the King Abdulaziz Quality Award 2024 — the most prestigious quality award in the Middle East. This honor reflects our unwavering commitment to excellence and continuous improvement in education. 9
Slide 10: Great Place to work Award
Great Place to work Award We’re proud to announce that NCLE has been recognized as a Great Place to Work®, earning the Best Workplace Award. This achievement reflects our employees ’ dedication and collaborative spirit, which continue to foster an outstanding work environment and drive our success.
Slide 11: The Kingdom-Wide Schools League Championship Cup
The Kingdom-Wide Schools League Championship Cup TNS girls were crowned champions of the Kingdom ’s Girls ’ Schools Football League. 11
Slide 12: Key Students' achievements
Key Students’ achievements Sheikh Hamdan bin First place Rashid Al Maktoum globally in the First Place in Award for WAICY Taekwondo at Distinguished Artificial the Kingdom Students (Outstanding Intelligence Level. Student Category). Competition. 21 teams from NCLE First Place schools won at the The
Slide 13: Financial Outlook
Financial Outlook
Slide 14: Revenue Recognition Accounting Change
Revenue Recognition Accounting Change (Effective from Q1 of Fiscal Year 2025/2026) Regulatory Statement According to SOCPA ’s interpretation of IFRS 15 issued on 16 July 2025, Revenue generated from providing educational services shall be recognized over the academic year including preparation activ
Slide 15: NCLE recorded its highest earning in Q3 2026
NCLE recorded its highest earning in Q3 2026 35.2 K SAR 610 M SAR 247 M Enrolled students Revenue EBITDA +12% Growth +11% Growth +10% Growth Compared to 542 M Nine -month 2025 Compared to SAR 222 M Nine -month 2025 From 31.9 K Nine -month 2025 +13% Growth +13% Growth Compared to Nine -month 2025, )a
Slide 16: NCLE maintained healthy financial growth in Q3 2026
NCLE maintained healthy financial growth in Q3 2026 35.2 31.9 31.9 28.2 658 23.4 565 566 610 542 17.1 446 309 Revenues Students Numbers 2022 2023 2024 2025 9 Month 9 Month SAR M 2022 2023 2024** 2024*** 2025 9 Months 9 Months Thousands 2025 2026 2025* 2026* 49.7% 46.4% 46.7% 47.7% 293.6 43.9% 44.6%
Slide 17: Gross Margin by Campus
Gross Margin by Campus 9 Months 2026 9 Months 2025 56% 59% 59% 58% 55% 56% 56% 54% 53% 54% 53% 52% 52% 51% 50% 46% 49% 46% 45% 45% 41% 43% 42% 39% 39% 35% 36% 31% (10%) %4 3% (10%) TNS – AlRayyan TNS – AlRawabi TNS – AlNozha TNIS -Qurtubah TNS –Buraidah Al-Khwarizmi Al-Ghad - King TNS – AlQairwan TN
Slide 18: NCLE Growth Drivers
*\ a NCLE Growth Drivers \" ‘i
Slide 19: External factors: Market growth
The education market is growing, fueled by increasing private school and External factors kindergarten penetration rates • Market growth Average annual Household Education Kindergarten Enrollment Rates in Saudi Arabia Expenditure in KSA (SAR) Kindergarten Enrollment Rates in Saudi Arabia (%) 90% 8,8
Slide 20: Privatization Set to Drive Growth in Private School Enrollment by 50%
Privatization Set to Drive Growth in Private School Enrollment by 50% External factors Vision 2030 sets targets to unlock the potential of private This will lead to … education through privatization • Privatization impact Private schools' penetration rate % Currently 2030 ~550k Additional students i
Slide 21: Riyadh is at the heart of growth, hosting Vision 2030 projects
Riyadh is at the heart of growth, hosting the majority of Vision 2030 projects External factors and driving Saudi Arabia's transformation • Riyadh's Expanding Horizon 8 mn Riyadh Population 10-12 mn 2025 2030 KSA Student Population (mn) Riyadh Student Population (mn) 6.80 1.7 6.72 6.56 1.64 1.58 6.3
Slide 22: Greenfield schools launched, paving the way for sustained growth
Over the past few years, 10 greenfield schools have been launched, paving the way for sustained growth TNS- Buraidah TNS - Al-Qairwan TNS- Al-Aridh TNIS- Dhahran TNIS – Al-Aridh Internal factors • Utilization growth Est. : 2019 Est. : 2020 Est. : 2021 Est. : 2022 Est. : 2023 Capacity : 2,625 Capacit
Slide 23: NCLE has outpaced market growth with a 21% CAGR
NCLE has outpaced market growth, doubling it annually over the past five years with a 21% CAGR KSA Private Education growth Vs. NCLE growth (%) Internal factors 37% 29% 20% 21% 10% 13% 10% 6% -4% 0% 21/22 22/23 23/24 24/25 25/26 • Quality Growth Team KSA Private Education Growth* NCLE Growth Student
Slide 24: MEIA Academy has set a new benchmark for full-day system growth
MEIA Academy has set a new benchmark for full-day system growth in private schools across KSA Internal factors Contributed to utilization growth over the years 72% 68% 85% 76% 92% 76% 98% 74% 60% 55% 62% 59% 2021 2022 2023 2024 2025 2026 Al-Rayyan utilization Al-Nozha utilization • Full -day school
Slide 25: Ishbiliyah Project
Ishbiliyah Project Internal factors Land Area Capacity Opening Date 9,025 sqm 2,000 Aug 2026 Location CAPEX* Land Purchase Amount Ishbiliyah District -Riyadh 51 million Saudi riyals 14.7 million Saudi riyals including real estate tax • Ishbiliyah Project ( New Greenfield ) 25 *Excluding land purchas
Slide 26: Al-Rabie Project
Al-Rabie Project Internal factors Land Area Capacity Opening Date 9,450 sqm 2,100 Aug 2026 Location CAPEX* Land Purchase Amount Al-Rabie District - Riyadh 57 million Saudi riyals 35.7 million Saudi riyals, including real estate tax • Al-Rabie Project ( New Greenfield ) 26 *Excluding land purchase am
Slide 27: Laban Project
Laban Project Internal factors Land Area Capacity Opening Date 15,532 sqm 3,300 Aug 2026 Location CAPEX Land Lease Agreement Dahret Laban 64 million Saudi riyals 24 Years (Including 2 Years grace period) District - Riyadh SAR 2.54 mn annually and increase by 10% every 5 years with a total contract v
Slide 28: AlUla School (Royal Commission for AlUla)
AlUla School (Royal Commission for AlUla ) Land Area Capacity Opening Date Internal factors 9,350 sqm 600 Aug 2026 Location CAPEX Building Lease Agreement • RCU will provide SAR 5 million • 10-year lease, extendable for another 10 years by Al Ula for renovation and mutual agreement and subject to ne
Slide 29: Jeddah Project
Jeddah Project Internal factors Land Area Capacity Opening Date 10,631 sqm 2,100 Aug 202 7 Location CAPEX* Land Purchase Amount North Obhur District - Jeddah 60 million Saudi riyals 27.9 million Saudi riyals, including real estate tax • Jeddah Project ( NewGreenfield ) 29 *Excluding land purchase am
Slide 30: Khuzam Suburb Project
Khuzam Suburb Project Internal factors Land Area Capacity Opening Date 10,988 sqm 2,200 Aug 202 7 Location CAPEX Land Lease Agreement Khuzam Suburb 41 million Saudi riyals 25 Years (Including 2 Years grace period) District - Riyadh SAR 2.24 mn annually and increase by 10% every 5 years with a total
Slide 31: Al-Yasmin Project
Al-Yasmin Project Internal factors Land Area Capacity Opening Date 11,040 sqm TBA TBA Location CAPEX Land Purchase Amount Al-Yasmin District - Riyadh TBA 39.4 million Saudi riyals, including real estate tax • Al-Yasmin Project ( NewGreenfield ) 31
Slide 32: Q&A
Q&A For more information, please contact us : investor.relations@edu.com.sa For more information, please contact us : investor. relations@ edu.com.sa
Slide 33: Thank You
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