Cogna Educacao S.a. · BMFBOVESPA:COGN3
Cogna Educacao — Investor Day (2025)
129 slides from Cogna Educacao's investor day presentation, 2025
Slide 1: Cogna Day
Day
Slide 2: Roberto Valerio, CEO
Roberto Valerio CEO
Slide 3: Agenda
Agenda Day Our 4-Years AI applied in Educational Journey Education Services Company
Slide 4: Our 4-Years Journey
Agenda Day Our 4-Years Journey
Slide 5: After 4 years we delivered Recurring EBITDA guidance, exceeding market consensus
After 4 years we delivered Recurring EBITDA guidance, exceeding market consensus EBITDA and Margin (in R$ million/% of NOR) 3x 33.9% 28,7% 26.4% 25.6% 2,174 2,100 11.7% 1,736 1,355 1,460 690 2020 2021 2022 2023 2024 Guidance
Slide 6: We exceeded the guidance for Operational Cash Generation after Capex
And also, we exceeded the guidance for Operational Cash Generation after Capex. OGC after Capex and Cash Conversion (in R$ million/%) 4x 51.5% 48.0% 34.8% 35.6% 37.0% 1,045 1,000 894 494 540 240 2020 2021 2022 2023 2024 Guidance
Slide 7: The assets are the same as in 2020, but the strategies have changed
The assets are the same as in 2020, but the strategies have changed in these 4 years
Slide 8: Strategic Changes 1/2
Strategic Changes 1/2 BEFORE NOW RESULTS Company with Business STRATEGY Holding CAPABILITY SHARING Units DISTRIBUTION B2C / B2B B2C / B2B / B2G / B2B2C NEW REVENUES CHANNELS CAPEX MORE ASSET LIGHT 180 campuses + 40 basic 113 campuses and sale of TECHNOLOGY AND LESS education schools basic education
Slide 9: Strategic Changes 2/2
Strategic Changes 2/2 BEFORE NOW RESULTS GRADUATION High LTV onsite + hybrid / MARGIN IMPROVEMENT On-site and DL digital DL + Medicine AND CAPEX REDUCTION CAPTURE Focus Enrollment INCREASE IN REVENUE Revenue Focus $ Volume # AND GROSS MARGIN CREDIT QUALITY / Filter on recruitment, PCLD No analysis /
Slide 10: Our 4-year Journey: Kroton
Our 4-year Toure —~< Kroton
Slide 11: Constant focus on efficiency gains, with a CAGR of 78.9%
Constant focus on efficiency gains over the years, with a CAGR of 78.9% Recurring EBITDA and EBITDA Margin (R$ million) CAGR 78.9% 35.0% 28.7% 30.3% 31.4% 1,421.0 3.7% 1,144.2 926.3 1,014.9 138.6 2020 2021 2022 2023 2024
Slide 12: Kroton's journey had two stages
Kroton's journey had two stages : Growth Turnaround 2024 2023 2020 2021 2022
Slide 13: We closed 64 campuses and expanded the network of hubs
We closed 64 campuses and expanded the network of hubs Own Units Number of Poles (# units) (# poles with regulatory authorization) 176 Opening of the Ponta 3,000 ~3,000 Porã Unit – More 483 Doctors II 52 12 1 113 973 1,255 289 2020 2021 2022 2023 2024 2019 2020 2021 2022 2023 2024
Slide 14: To improve cash generation, we ended the PEP and were more restrictive
To improve cash generation, we ended the PEP, were more restrictive in re-enrollment and recruitment, which had an initial impact on revenue... Re-enrollment Recipe 1. PEP Extinction 2. Change in fundraising recognition criteria CAGR 3. PMT Change -35.3% -14.8% +9.1% 2020 2021 2022 2023 2024 PEP FIE
Slide 15: ... over 6 consecutive quarters
... over 6 consecutive quarters Net Revenue Variation 14.9% 15.9% 13.3% 11.7% 12.6% 11.8% 12.5% 8.4% 4.9% 1.7% -3,4% -4,9% -10,9%-10,1% -9,9% -19,2% 1Q21 2Q21 3Q21 4Q21 1Q22 2Q22 3Q22 4Q22 1Q23 2Q23 3Q23 4Q23 1Q24 2Q24 3Q24 4Q24
Slide 16: Focus on growing revenue collection crops
At the same time, we focus on growing revenue collection crops. Intake Intake Revenue (thousand students) (growth %) +25.9% CAGR +11.0% 880 773 790 722 756 774 108 79 699 706 602 107 521 83 113 665 711 615 519 408 2020 2021 2022 2023 2024 2020 2021 2022 2023 2024 On-site DL
Slide 17: Improving student experience reduced the dropout rate
And improving the student experience, which reduced the dropout rate. Average Student NPS Dropout rate (Surveys conducted in December of each year) (Annual) +26p.p. -7.2p.p 2020 2021 2022 2023 2024 2021 2024
Slide 18: Increasing enrollment rates allowed us to grow our base
Increasing enrollment rates, with a reduction in the dropout rate, allowed us to grow our base consistently... Student Base (thousand students) +37.0% 1,055 954 897 142 770 805 167 179 187 229 913 718 787 618 541 2020 2021 2022 2023 2024
Slide 19: Revenue started growing again from 3Q22
...and with it, revenue started growing again from 3Q22 and never stopped. Net Revenue Variation 14.9% 15.9% 13.3% 11.7% 12.6% 11.8% 12.5% 8.4% 4.9% 1.7% -3.4% -4.9% -10.9%-10.1% -9.9% -19.2% 1Q21 2Q21 3Q21 4Q21 1Q22 2Q22 3Q22 4Q22 1Q23 2Q23 3Q23 4Q23 1Q24 2Q24 2Q24 4Q24 1 – PEP (Special Installment
Slide 20: Postgraduate: steady growth in student base and revenue
In the Postgraduate program, we have seen steady growth in our student base, accompanied by a significant increase in revenue. Student Base Net Revenue (thousand students) (R$ million) +6.0% 2x 79 182 72 159 67 56 117 48 113 91 2020 2021 2022 2023 2024 2020 2021 2022 2023 2024
Slide 21: New vacancies increased Kroton Med's revenue by more than 50%
The authorization of new vacancies allowed us to increase Kroton Med's revenue by more than 50% Number of Medical Places (MEC) Kroton Med Liquid Prescription¹ (thousand students) (R$ million and % of Kroton Total's ROL) 40% of vacancies in Maturation +51.9% 19,0% 19,5% +71,4% 15,7% 16,6% 14,0% 593 7
Slide 22: Student mix reduced monthly cost per student
Mix of students more concentrated in distance learning and high LTV on-site classes allowed a significant reduction in the monthly cost per student Composition of the Student Base Monthly Costs by Modality (R$/student)² (% total)¹ - 33% DL On-site 74,3 20% 17% 13% 30% 23% 56,9 56,0 53,1 50,0 80% 83%
Slide 23: Digital Marketing innovations reduced CAC
Focus on Marketing and Sales innovations, especially in Digital Marketing, reduced CAC even in a competitive environment Nominal Sales and Marketing Nominal Customer Acquisition Cost Expenses (CAC) (R$/student recruited) (R$ mm) / (% ROL) 12,4% -36% 11,0% 10,9% 10,7% 798 463 8,9% 436 398 356 296 523
Slide 24: Campus optimization and renegotiations generated rental efficiency
Campus optimization and continuous renegotiations generated efficiency in the rental line, with significant potential in the next 5 years. Rent and Condominium Expenses Expiration of Rental Contracts (R$ mm / %NOR) (# of Campuses per year) 11,0% 11,2% 11,3% 10,5% 9,9% 76% of contracts expire in the
Slide 25: Lower ACP and lower PDA
More restrictive enrollment and re-enrollment resulted in a lower ACP and consequently lower PDA Average Collection Period (Payers) Accounts Receivable Coverage (# days) Ratio (Total) and PDA/NOR 68.8% 68.1% 69.0% -30 days 67.0% 74 60 15.5% 54 12.2% 44 44 10.4% 12.7% 2020 2021 2022 2023 2024 2021 20
Slide 26: Simple strategy drove Recurring EBITDA 10x over 4 years
Simple strategy and consistent execution drove Recurring EBITDA 10x over the past 4 years Recurring EBITDA and EBITDA Margin (R$ million) 10x 35.0% 28.7% 30.3% 31.4% 3.7% 1.421 1.144 926 1.015 139 2020 2021 2022 2023 2024
Slide 27: Growing financial results without sacrificing student experience
Growing Financial Results without sacrificing student experience and quality
Slide 28: Focus on the student resulted in important recognitions
Focus on the student, on improving processes and platforms, resulted in important recognitions Average Student NPS Acknowledgements (Dec) +26p.p. +1.3p.p. ̶ The best in the segment in customer satisfaction 6.9 7.1 ̶ 100 best companies in customer satisfaction 6.6 6.5 in Brazil 5.8 ̶ Collection Case:
Slide 29: Developments in MEC/INEP Concepts of Courses
With important developments in the MEC/INEP Concepts of Courses in Activity¹ 13.3% Courses with top 18.3% 25.1% marks doubled in 2 years MEC did not carry 67.0% out visits during the 68.3% 93% of courses at Pandemic period 68.1% Excellence Levels 19.7% 13.4% 6.8% 2020 2021 2022 2023 2024 Score <3 Sc
Slide 30: Improvement in employability of our students
Internal research shows the improvement in the employability of our students Employability - Students Employability - Graduates Employability in the Area of Activity - Graduates 14% 10% 23% 17% 17% 21% 25% 27% 31% 21% 20% 19% 86% 90% 77% 83% 83% 79% 52% 50% 55% 2022 2023 2024 2022 2023 2024 2022 202
Slide 31: Significant increase in income after graduation
With a significant increase in income after graduation Students Practical example Considering our average ticket monthly of ~R$380.00 Average salary of students during graduation: ~R$3,000.00 *2.1x minimum wages Upon completion of the course: disbursement ~R$18,000.00 After graduation salary: After
Slide 32: Our 4-year Journey: Vasta
Our 4-year Journey Vasta
Slide 33: Guilherme Melega, CEO
q - VASTA © EDUCACAO y y Guilherme Melega CEO
Slide 34: 88% growth in Recurring EBITDA
88% growth in Recurring EBITDA and gain of more than 3p.p in margin Recurring EBITDA and Margin (in R$ million / %) 88% 27.3% 28.1% 29,9% 26.8% 17.1% 501 417 345 267 162 2020 2021 2022 2023 2024
Slide 35: Anglo biggest approver in Brazil
Anglo biggest approver in Brazil
Slide 36: PH and Amplia continue to grow
PH and Amplia continue to grow
Slide 37: High customer approval generated Market Share increase
High customer approval and satisfaction generated an increase in Market Share NPS Market Share Student base School base (Supporters and Teachers) (in thousand students) (in # of schools) +176.1% +32 p.p. +6.0p.p. +22.3% +242.3% 1,603 +20.2% 25% 1,311 5,010 19% 4,167 588 2,177 213 636 2021 2024 2021
Slide 38: Growth in subscription products and governments
Growth in subscription products and governments Net Revenue (in R$ million) CAGR 14% 1,674 1,486 105 107 1,267 81 127 998 143 948 238 144 1.462 1.278 1.121 760 804 2020 2021 2022 2023 2024 Subscription No-Subscription B2G
Slide 39: Vasta's ACV more than doubled
Over the past 4 years, we have more than doubled Vasta's ACV with steady growth Annual Contract Value (in R$ million) (Commercial Cycle) 2X 1.358 1.207 191 1.024 158 111 741 682 42 63 1.167 1.049 913 640 678 2020 2021 2022 2023 2024 Core Content Complementary Solutions
Slide 40: TAM of R$9.9 billion in complementary solutions
TAM with R$9.9 billion in complementary solutions with the most complete portfolio TAM 9.9 Vasta Penetration Portfolio (R$ billion) Wide variety of complementary +35% solutions for our partner schools. 16,1% language 8,6% 11,6% school Socio-emotional 4.6 2023 2024 2025 2030e STEM +30% 16,1% 18,4% Ot
Slide 41: Our 4-year Journey: Saber
Our 4-year ~ Jou rney ——_= Saber
Slide 42: New businesses and editorial strategy brought gains
New businesses and changes in editorial strategy brought important gains. Net Revenue* Recurring EBITDA and EBITDA Margin* (R$ million) (R$ million) 808 779 +78% 149 137 630 33.1% 601 110 27.3% 130 511 201 24.1% 132 21.7% 50 19.6% 41 148 258 68 549 172 175 428 450 441 145 295 100 2020 2021 2022 2023
Slide 43: Products for governments and market share gain in NBTP
Products for governments and market share gain in the NBTP Leader in Revenue from Public Sector (ex-NBTP) Market Share Gain in Elementary the (R$ million) School II PDA in this cycle 5X 26.2% 201 33.5% Cycle Cycle 2023 2019 110 +7.3 p.p. 68 41 50 2020 2021 2022 2023 2024 Brazilian Largest The only o
Slide 44: Red Balloon achieved above-market growth
Red Balloon achieved above-market growth rates, with NPS at excellent levels Red Balloon vs. Students NPS Families Always in Educational Franchise 71% the zone of excellence Market 36.675 (% of revenue growth) 29.044 86 83 81 82 81 26.2% 25.824 20.6% 19.6% 21.418 22.352 9.5% 9.2% 4.7% 13.2% -8.8% -1
Slide 45: Financial Indicators
/ EX. Financial Indicators.
Slide 46: Frederico Villa, CFO
cogng EDUCACAO Frederico Villa CFO
Slide 47: Free Cash Generation with growth and liability management
Free Cash Generation, with growth in operations and liability management actions R$ 580 (in R$ million) 2X 395 200 -184 2020 2023 2024
Slide 48: Free Cash Generation reduced leverage and Net Debt
Strong Free Cash Generation allowed for a reduction in leverage and Net Debt Net Debt and Leverage (in R$ million / X) 3,23X 2,16X 2,10X 1,83X 1,35X 1.30X 3.097 3.333 3.278 2.919 2.880 2.780 2020 2021 2022 2023 2024 2024 ex-Swap Gross Debt 7.471 7.129 5.462 5.072 4.212 4.112 Cash Position 4.552 4.03
Slide 49: Liability management changed how debt is repaid
Liability management actions have changed the way our debt is repaid Net Debt Composition Loan and Financing Amortization (R$ million) Schedule¹ (R$ million) 111 101 4.212 4.000 1.506 1.332 2.880 1.104 958 911 660 690 504 416 300 300 131 2025 2026 2027 2028 2029 >=2030 Loans and Derivative Accounts
Slide 50: Reduction in average cost of debt
These actions also resulted in a reduction in the average cost of debt (CDI+) -51 p.p 2.16% 2.13% 1.93% 1.82% 1.64% 4Q23 1Q24 2Q24 3Q24 4Q24 Duration 24 22 28 28 28 (months)
Slide 51: Forfait is part of Vasta and Saber operation
Forfait is part of the Vasta e Saber operation given the 365-day operating cycle. Cycle in days of the Drawn Risk Vast Net Revenue + Knowledge Forfait (R$ million) (R$ millions and %NOR) Average Cycle of the last 5 years: CAGR 367 days CAGR +13.5% +11.3% 2.453 26% 408 2.294 19% 20% 358 363 363 18% 1
Slide 52: Resumption of Net Profit and dividends after 5 years
Resumption of Net Profit, with distribution of dividends after 5 years Net Profit (Loss) (em R$ milhões) 880 242 -489 -529 -493 -589 2019 2020 2021 2022 2023 2024
Slide 53: Shareholder return actions
Shareholder return actions Dividend Distribution R$120.8 million approved by the Board of Directors, to be approved at the AGM Yield de 4%¹ 1st Share Buyback Program 2nd Share Buyback Program 44.2 million shares 144.2 million shares Period: 06/17/2024 to 15/01/2025 Period: 01/20/2025 to 01/20/2026 E
Slide 54: Cogna's evolution demonstrates intrinsic potential of assets
Cogna's evolution demonstrates the intrinsic potential of the Company's assets
Slide 55: Peers Comparison: Recurring EBITDA
Peers Comparison: Recurring EBITDA¹ +215.2% (R$ million) 2.174 +34.6% 1.736 +262.6% 1.460 1.355 +48.9% 690 +38.2% Cogna Peer 1 Peer 2 Peer 3 Peer 4 2020 2021 2022 2023 2024 CAGR +33.2% +38.0% +10.5% +8.4% +7.7% M&A in the period 1 Merge 2 Acquisition None 2 Acquisition 5 Acquisition 6 Acquisition 1-
Slide 56: Peers Comparison: Operating Cash Generation after Capex
Peers Comparison: Operating Cash Generation after Capex¹ (R$ million) +334.8% 1.045 +17.6% 894 +42.2% -47.7% 494 540 240 Cogna Peer 1 Peer 2 Peer 3 Peer 4 2020 2021 2022 2023 2024 CAGR +44.4% +121.8% +9.2% -15.0% +4.1% M&A in the period 1 Merge None 2 Acquisition 2 Acquisition 5 Acquisition 6 Acquis
Slide 57: Coffee Break
Coffee 10 Break minutes
Slide 58: Roberto Valerio, CEO
Roberto Valerio CEO
Slide 59: How are we doing with our public commitments?
How are we doing with our public commitments?
Slide 60: ESG: Commitment to society, recognized performance
ESG: Commitment to society, consistent and recognized performance Ratings and indexes Voluntary public commitments First education company to be included in the index, in 2022 3rd consecutive year in the portfolio 1st place in Brazil; 2nd place globally in Diversified Consumer Services Sustainabilit
Slide 61: ESG: Goals and achievement
ESG: Commitment to society, consistent and recognized performance % ACHIEVEMENT - 2025 GOALS GOAL ENVIROMENT 7 Have 90% of the energy consumed in the grid coming from renewable sources by 2025. 100% Measure the impact of GHG emissions on the Company's operations, setting targets and commitments 13 f
Slide 62: Agenda: AI applied in Education
Agenda Day AI applied in Education
Slide 63: Bruno Brusco, Director of Digital Solutions
Bruno Brusco Director of Digital Solutions 63
Slide 64: SOMOS Education educational platform
SOMOS Education educational platform
Slide 65: Plurall 10-year history
Plurall 10-year history +11,700 +5.7 MM +438,000 Schools Students Teachers
Slide 66: Plurall leader in engagement for past 5 years
Plurall has been the leader in engagement between Education Systems and Publisher platforms for the past 5 years Visits over time (Jan 2020 - Dec 2024) source: similarweb.com 400.000.000 43,4% 350.000.000 300.000.000 250.000.000 200.000.000 150.000.000 100.000.000 2º = 10,5% 50.000.000 0 2020 2021 2
Slide 67: Plurall enables the Educational Management Cycle
Plurall enables the Educational Management Cycle PLANNING DEVELOPMENT PDCA (A) INTERVENTION CHECK
Slide 68: 5 Essential Soft Skills for Any Job
5 Essential Soft Skills for Any Job Effective Communication Teamwork Influencing Without Authority Problem Solving Leadership https://hbr.org/2023/02/5-essential-soft-skills-to-develop-in-any-job
Slide 69: Teachers work 50 hours a week, only 49% with students
Teachers work 50 hours a week and only 49% of that time is spent interacting directly with students. The image shows the composition of the activities that make up teachers' working hours, with the number of hours dedicated to each activity: 51%: • Preparation: 10.5 hours • Test correction: 6.5 hour
Slide 70: Launched in April/24
Launched in April/24 at
Slide 71: Slide 71
Slide 72: Premises for including AI in SOMOS Education
Premises for including AI in SOMOS Education Excellent traditional teaching systems and content. Data from millions of students and teachers that refine our recommendations. Safe and reliable AI environment for schools.
Slide 73: Plu: Artificial Intelligence Assistant
Plu: Artificial Intelligence Assistant ⚫ Generating personalized lesson plans ⚫ Generating tests, questions and images ⚫ Content summaries ⚫ Class Topics ⚫ Presentation scripts, slides. ⚫ Bilingualism ⚫ Variation in the level of cognition ⚫ And much more!
Slide 74: Ask the assistant Teacher: lesson plans
Ask the assistant Teacher Through the selected content, simply ask Plu for what you want: Lesson Plans Question Lists Lesson Summaries Images Interdisciplinarity: History and Geography 50 minutes Topic: “Ancient Egypt, characteristics of Egyptian civilization”
Slide 75: Ask the assistant Teacher: slides
Ask the assistant Teacher Through the selected content, simply ask Plu for what you want: Slides presentation “Cell membrane”
Slide 76: Ask the assistant Teacher: video
Ask the assistant Teacher Through the selected content, simply ask Plu for what you want: Video production “Biodiversity and the importance of nature conservation”
Slide 77: Security in Plu's responses
Security in Plu's responses The AI engine does not allow inappropriate responses to users, reinforcing the reliability of our solution.
Slide 78: Plu Assistant results
Assistant Results in 60 Days of 2025 Use of AI in Plu: •Total number of unique teachers who used it: 86,787 •Teachers who engaged: 77.5% Distribution of resources used by teachers: Questions 180.026 29% Tests 139.306 23% Study Plans 121.710 20% Slides 74.376 12% Figures 48.918 8% Chats 36.875 6% Sum
Slide 79: Adaptive Teaching for Students
Adaptive Teaching for Students Gamified solution available to students, with the National Common Curricular Base (BNCC) and ENEM as a foundation. Teachers can assign missions and have access to reports on the management panel. 196 thousand students with free access in 2025 3.2 million skills being w
Slide 80: Silvia Bizatto, Director of Experience and Learning
Silvia Bizatto Director of Experience and Learning
Slide 81: Best digital product: competitive advantages in pillars
BEST PRODUCT ON THE MARKET: COMPETITIVE ADVANTAGES IN 5 PILLARS WORKABILITY 5 1 ENGAGING CONTENT PLATFORM AMAZING 4 2 DIGITAL TUTORING LEARNING 3 HYPER-PERSONALIZATION
Slide 82: DL Academic Model
DL ACADEMIC MODEL Guiding principles of our model: DISCIPLINE UNIT 1 CLASS 1 VIDEO CLASS (blocks of up to 15 minutes) CLASS 2 Focus on Personalized UNIT 2 TEACHING MATERIALS (Starting Point, Learning UNIT 3 CLASS 3 Let's Get Started!, Let's Move Forward..., Let's Practice?) CLASSROOM QUESTIONS UNIT
Slide 83: Personalization of Education
PERSONALIZATION OF EDUCATION Adaptive engine input data LEARNING Model, measure and monitor student progress in knowledge ANALYTICS components LEARNING Management and provision of the entire student journey, events and data relevant to the academic context. CONTEXT Macro learning journeys NBLE ACTIV
Slide 84: Personalization of Education: student assistant
PERSONALIZATION OF EDUCATION STUDENT ASSISTANT WHO WILL BE PART OF THE ENTIRE JOURNEY, BOTH REACTIVELY AND PROACTIVELY LEARNING moment What is he doing? journey What interaction makes VIRTUAL TUTOR sense? profile Secretary How should we interact? SECRETARY historical context enrichment Edu FINANCIAL
Slide 85: Applications: Remedial Education
APPLICATIONS: REMEDIAL EDUCATION APPLICATIONS: REMEDIAL EDUCATION ACTIVATION AND PREPARATION JOURNEY Content tag by BNCC Student event Personalized leveling class prerequisites opening the skill tag course page NBLE LEARNING ANALYTICS Aula Preparatória Preparamos um conteúdo especial para você se pr
Slide 86: Remedial Education | Preparatory Class
REMEDIAL EDUCATION | Preparatory Class
Slide 87: Applications: Study Guide
APPLICATIONS: STUDY GUIDE PARÁGRAFO INICIAL Reforça a importância da disciplina para a carreira do aluno Dicas de organização e estudo Motivação para estudar ROTEIRO DE ESTUDO Sequência de aulas importantes para a prova Contextualiza o objetivo pedagógico de cada aula
Slide 88: Applications: Test Feedback
APPLICATIONS: TEST FEEDBACK Parabéns pela sua Prova! Mais uma etapa cumprida INITIAL PARAGRAPH Reinforces the importance of the subject for the student's career Emphasizes the concepts Para ajudar em sua evolução mapeamos as habilidades of the subject understood compreendidas e elaboramos´um by the
Slide 89: Results: Proven Improvement in Learning
RESULTS Proven Improvement in Learning Average grade Highest With Edu Results gathered with 84 Edu Exercise 89 91 Conclusion Edu's help with the exercise answers raised the average grade by around 7 pp. Edu helped the lowest-performing students and raised the group's overall average!
Slide 90: Publication of Papers
PUBLICATION OF PAPERS
Slide 91: Roberto Valerio, CEO
Roberto Valerio CEO
Slide 92: Agenda: Educational Services Company
Agenda Day Educational Services Company
Slide 93: After the turnaround, we started thinking about accelerating growth
After the turnaround, we started thinking about how to accelerate our growth...
Slide 94: During our strategic planning we came across several studies
DURING OUR STRATEGIC PLANNING WE CAME ACROSS SEVERAL STUDIES...
Slide 95: Education is one of the most fragmented sectors globally
“Education is one of the most fragmented sectors globally and is experiencing tech disruption and transformation.”
Slide 96: The education market is large, diverse and fragmented
We know that the education market is large, diverse and fragmented.
Slide 97: Cogna is already a diversified company
Cogna is already a diversified company (%) 100% 2% 2% 3% 4% 3% 5% 4% 3% 1% 1% 1% 2%1% 1% 3% 5% Graduation + Other Services 10% 3% 1% 2% 90% 3% 11% 11% 3% 9% 11% 8% 80% 9% Governments 11% 12% 9% 19% 70% 19% 18% Franchises 12% 13% 60% Complementary Education Systems 50% 98% 97% Schools 40% 68% 30% 62%
Slide 98: Opportunities lie in complementarity and synergy
We know that the education market is large, diverse and fragmented. Opportunities lie in complementarity and synergy between businesses.
Slide 99: How can we grow more?
2029 How can 2025 2027 we grow more?
Slide 100: We began to look for these complementarities
We began to look for these complementarities
Slide 101: Sharing capabilities between business units
We realize that sharing CAPABILITIES between the different business units, in an innovative way... ...would allow us to operate in new segments, generating scale and growth.
Slide 102: Capabilities
“Knowing how CAPABILITIES to do it” Skills Ativos
Slide 103: Cogna's capabilities across Basic, Higher and Lifelong Learning
Cogna has many, as it operates from Basic Education, through Higher Education to Lifelong Learning. EDUCATIONAL PRODUCTS MARKETING AND TECHNOLOGICAL AND SOLUTIONS DISTRIBUTION CHANNELS Books, Teaching Systems, Courses B2B / B2C / B2G ERPs, AVAs, Check-outs, E- etc. commerce, CRMs, etc. CUSTOMER EXPE
Slide 104: In less than 2 years we combined capabilities and created new products
And in less than 2 years, we combined several CAPABILITIES, created new products and generated relevant revenues and results.
Slide 105: Bilingual School Franchise
start anglo bilingual school Bilingual School Franchise
Slide 106: Combination of capabilities created a bilingual school franchise
The combination of CAPABILITIES created a bilingual school franchise, which has already earned R$12 million in 2024 COGNA CAPABILITIES PRODUCT CHANNEL TECNOLOGY MARKETING CX OPERATIONS Performance Poles: 6 ERP Teaching System contracts Reputation Franchise Model Teaching materials Digital learning i
Slide 107: Start Anglo Expansion
Start Anglo Expansion 2023 2024 Last Cogna Day, we In 2024, we complete announced the cycle with ⚫ 10 contracts signed +300% ⚫ 40 contracts signed ⚫ 1 flagship (SJRP) ⚫ 2 flagships (Liceu Pasteur Start Anglo) ⚫ Opening of the 1st franchise (Alphaville) Presence in 14 states and 33 municipalities São
Slide 108: Start is recognized as one of the main schools in São Paulo
Start is already recognized as one of the main schools in São Paulo
Slide 109: Solutions for Governments (B2G)
Solutions for Governments (B2G)
Slide 110: Capabilities created learning re-composition products for governments
The combination of Capabilities created learning re-composition products for state and municipal governments, leveraging their results in SAEB COGNA CAPABILITIES PRODUCT CHANNEL TECNOLOGY Correction Artificial Intelligence Editorial and Same sales force Operations Teams as NBTP + 1,1 million student
Slide 111: Performance Improvement in SAEB
Performance Improvement in SAEB EARLY YEARS FINAL YEARS HIGH SCHOOL The highest growth in IDEB* by state 11º 18º PLACE 6º 23º PLACE 25º PLACE PLACE PLACE 26º PLACE +14% +20% +43% 4,8 5,7 4,3 5,0 4 3 2021 2023 2021 2023 2021 2023 * Ideb measures the quality of education in the country by combining tw
Slide 112: Case Pará: Impact beyond the classroom
Case Pará Impact beyond the classroom
Slide 113: Acerta Brasil in Results
Acerta Brasil in Results Final Years Early years Final years Paraná Sobral (CE) State Reference in the state of Ceará number 1 in the Brazil ranking 5.4 5.5 9.6 6.6 7.9 8.0 2021 2023 2021 2023 2021 2023 Domingos Mourão (PI) Cupira (PE) Novo Oriente (CE) Reference in the state of Piauí Reference in t
Slide 114: English Learning System
English Learning System
Slide 115: English product for Governments generating R$7M revenue
Cogna's combined capabilities created an English product for Governments generating R$7M in revenue in 2024 COGNA CAPABILITIES PRODUCT CHANNEL OPERATIONS Red Balloon Same NBTP sales Same graphics and Editorial Team force sells Wings to distribution center as developed the City Halls the Education Sy
Slide 116: Revenues from Governments (ex-NBTP) reach R$305 million
Revenues from Governments (ex-NBTP) already reaches R$ 305 million in just a few years PRODUCTS Revenues (R$ Million) 7.4X 305 41 2020 2024
Slide 117: Innovation: platforms for third parties
INNOVATION Furthermore, our INNOVATION skills have allowed us to create platforms so that third parties can grow their businesses and pay us for it.
Slide 118: Creators Platform
= SE PSX. _ \Jvoomp = Creators Plataforma
Slide 119: Voomp is a sales and creation platform for creators
Voomp is a platform of sales and creation for creators Unique positioning and differences for being part of the Cogna ecosystem ⚫ Extension courses in partnership with creators ⚫ Graduate courses in partnership with creators ⚫ Access to our physical infrastructure ⚫ Sales and operations resources ⚫
Slide 120: GMV - Voomp
GMV - Voomp # Actives Creators GMV (R$ MM) Revenue (R$ MM) 42X 65X 223X 623 174.6 22.3 234 26.4 2.1 15 2.7 0.1 2022 2023 2024 2022 2023 2024 2022 2023 2024
Slide 121: OPM and Learning Systems: Mackenzie and A.C. Camargo
OPM and Learning Systems Mackenzie and A.C. Camargo
Slide 122: Using our capabilities to establish partnerships and new products
Using our capabilities, we will be able to establish partnerships and develop new products. Reference in education: - Teaching platforms - Technology - Distribution Channel - MEC Accreditation - Services
Slide 123: Up to 2017, exclusively focused on undergraduate students
Up to 2017, we were a company exclusively focus on undergraduate students YO U NG /A DUL T Under Free graduation Courses On-Site and and DL Technical Medicine Graduatio n and MBA
Slide 124: With the purchase of Somos we incorporated new skills
With the Purchase of Somos, we KIDS /Y OU incorporated new skills and NG abilities.. Schools for basic E-commerce education/sch of teaching ools of the materials future YO B2G U NG /A DUL Core Digital ions T Learning for school Compleme Systems manageme ntary nt Solutions Under Free graduation Cours
Slide 125: Services extend across the entire age spectrum, from 2 to 100 years
Therefore, our services extend across the entire age spectrum, from 2 to 100 years. Our intrinsic competencies allow us to streamline workflows and offer a considerable value CRIANÇA / JO proposition to brands VE M Schools for basic E-commerce of teaching education/sch G ools of the materials G LEAR
Slide 126: Educational Services Company
EDUCATIONAL SERVICES COMPANY 126
Slide 127: Capital Allocation Priorities
Capital Allocation Priorities
Slide 128: Capital Allocation
Capital Allocation Financial Return to Boost Growth Expenses Shareholder Strategy Reduction Repurchase of Strategic M&As Pre Payment of Shares and Debts Payments of Dividends
Slide 129: Cogna Day
Day