Yduqs Participacoes Sa · BMFBOVESPA:YDUQ3
Yduqs Participacoes Sa — Yduqs — Investor Presentation (August 2026)
28 slides from Yduqs Participacoes Sa's investor presentation, August 2026
Slide 1: Corporate Presentation
CORPORATE PRESENTATION August 2026 1
Slide 2: Education Sector Dynamics
Education Sector Dynamics In Brazil, higher education still reaches a relatively small portion of the population compared to other countries In Brazil, higher education still shows low penetration compared to other countries worldwide ... Population with Higher Education (%) (2023 | Ages 25-34) 70%
Slide 3: Education Sector Dynamics
Education Sector Dynamics In Brazil, a university degree is a major life-changer, with its potential for fostering growth still largely untapped. Increase in average salary – OECD Unemployment rate – JPM/IBGE Salary increase among our students after (%, Higher Education vs. High School - 2023) (R$/m
Slide 4: Who we are
Who we are We are a technology and education services group. Our work is to drive a leap in quality for higher education in Brazil. Our goal Our purpose Our values Transform education I Educate to Focus on the student Brazil through Transform Sense of ownership technology Focus on results to support
Slide 5: Who we are
Who we are With over 100 Campi and more than 1 million students, we are a leading higher education group in Brazil. Our multi- brand strategy provides an educational pathway for students across the country. + 100 Campi¹ 1 + M Students + 17K Employees On-Campus + 11K 15 + . K 20 + . K DL Centers Idom
Slide 6: Who we are
Who we are We have developed a flexible ecosystem, capable of adapting to different scenarios, delivering a complete experience to all our students, regardless of the study modality they choose Lower On-Campus Higher On-campus Estácio & Wyden Ibmec Idomed Digital Semi On-Campus On-Campus Ibmec Idome
Slide 7: Timeline
Timeline We are a company that believes in the transformative power of education in Brazil. This is our journey ... 5 new 3 new We started offering Estácio 2 new acquisitions acquisitions acquisitions the distance learning 436,000 students Participações Student base (including Medical 272,000 studen
Slide 8: Our business evolution
Our business evolution Built to Grow, Built to Last: Developing through market shifts, regulatory change, and social evolution. Undergraduate Student Base (# thousand) The acquisition of Ibmec, combined On-campus 1% 1% with the expansion of Medicine 20% 25% seats, drove strong growth in the 31% Digi
Slide 9: Our business evolution
Our business evolution Growth through strategic diversification Our Premium segment is gaining ground, now representing a larger share of both revenue and EBITDA, with EBITDA growth outpacing revenue thanks to its superior margins. This performance reflects our strategy to expand high-quality, high-
Slide 10: Estácio & Wyden
Estácio & Wyden Semi On-Campus format continues to grow Total student base1 Digital On-Campus Semi On-Campus (thousand) YDUQS has On-Campus Semi on-campus: Our Digital modality 823 modality Campi in market-leading growth, has a 764 760 778 710 698 officially recognized, 21 49 69 110 165 31 256 237 2
Slide 11: Idomed
Idomed Sustained and continuous growth, delivering exceptional results. Total student base (thousand) CAGR 2021-26 High approval rates +60 annual 30% increase in 11.8 for additional seats seats the FIES tuition 12% 9.9 10.8 (+70%) Acquisition of cap 8.7 7.9 Unifametro, already helping to drive intak
Slide 12: Ibmec
Ibmec Since the acquisition by YDUQS, Ibmec has shown significant growth through its strategic positioning. Total student base Undergraduate Graduate (thousand) CAGR 2021-26 High-end education Ibmec graduate and Academic excellence growing across the Digital Products: and high satisfaction 10.7 11.6
Slide 13: Discipline in capital allocation
Discipline in capital allocation Diversified and solid portfolio combined with efficient management. Commitment to leverage reduction. Reconciliation Net debt – 1H26 (R$M) 1Q 2Q 225 100 21 (145) (2,908) (2,737) 204 (19) (150) (2,513) (81) Net debt FCFE ND before Buyback Dividends M&A Net debt 4Q25 1
Slide 14: History of growth, margin and shareholder return
History of growth, margin and shareholder return Net Revenue Dividends and Share Buyback² Dividend payment in all years (R$ Billion) (R$M) CAGR Since the IPO in 2007 +7% 24% 11% 1% 1% 62% Dividends Buyback 5.1 5.4 5.5 5.6 250 4.4 4.6 4.1 3.6 501 154 100 201 146 153 153 142 80 80 150 150 38 2018 2019
Slide 15: Innovation
Innovation Fluency in AI as an organizational competency — enablement, experimentation and practical application advance rapidly. Nora Project Quality predictive agent in software In March/26 we launched development: anticipates bugs and failures PLAY – YDUQS Agent Platform in new features before de
Slide 16: Guidance
Guidance Disclosure of cash generation and earnings per share guidance Adjusted EPS Evolution¹(R$) Strong cash Generation, reinforcing the Company’s commitment to consistently delivering value to its shareholders. 2030 2029 Guidance for 2026 2.0 – 3.5 2028 620 520 2027 FCFE (R$M) 2026 1.4 – 2.0 Low
Slide 17: ESG
ESG Large social capital, extensive experience in high-impact actions and one of the best ESG management systems in the country Our digital learning platform allows us Highly recognized for its commitment to A global benchmark for governance E to promote a significant impact on the Environmental Edu
Slide 18: Governance
GOVERNANCE Best corporate governance practices, with over 90% of shares in free float 6,764,467 Board Members shares Advent Shareholder since August 2017, with two and Directors 2.47% 15.83% positions on the Board. 19,633,402 274,088,851 Shareholder since December 2022, with two Família Zaher positi
Slide 19: Governance
GOVERNANCE Board and Directors composed of 7 totally independent members Chaim Zaher Juan Pablo Zucchini André Pires de O. Dias Mario Ghio Junior President Vice President Independent Member Independent Member Brenno R. de Souza Thamila Cefali Zaher Flávio Benício J. Ferreira Independent Member Indep
Slide 20: New Regulatory Framework for Distance Learning
New Regulatory Framework for Distance Learning Scenarios before and after regulatory changes Modality % Previous Class Hours % Required Class Hours Market Share¹ Distance Learning: 1. Player 1: 21.2% On-campus 30% 60% 10% 30% 70% Asynchronous 2. Player 2: 18.9% Mediated Synchronous Activity 3. YDUQS
Slide 21: New regulatory framework
New regulatory framework Challenges following the changes introduced by the Regulatory Framework Nursing NOR Restriction Semi → On-Campus approx. -1% on course of NOR offerings Health, engineering, and other restricted courses already in 2026 Digital Learning → Semi Teaching personnel expenses Expen
Slide 22: IR Contact
IR Contact ri@yduqs.com.br www.yduqs.com.br 22
Slide 23: DIS
DIS Detailed breakdown of Revenue recognition and student disbursement (Cash Flow impact) With DIS, the student can pay a significantly lower amount than the standard monthly tuition fee for the first 3 months of their course and distribute the difference over the duration of the entire course. Comp
Slide 24: Net Income and Cash Generation
Net Income and Cash Generation Net Income and Free cash flow to equity decorrelation in 2025 Contingency: variation Income Variation in D&A and Capex² IFRS 16 Impact Statement and Cash (R$MM) (R$MM) (R$MM) -R$50 -R$30 437 -R$53 511 Incurred 407 461 175 196 interest 144 D&A 262 Impact P&L Cash D&A Ca
Slide 25: Guidance for 2026
Guidance for 2026 Asymmetry between FCFE and EPS guidance Free Cash Flow to Equity The ~R$120–130MM mismatch between the FCFE and EPS guidance 620 570 520 for 2026 — based on total shares R$M outstanding (ex-treasury) as of end of Low High Midpoint of guidance April 2026 — reflects the temporary dec
Slide 26: Contingencies
Contingencies Provisioning for contingencies vs. disbursements Total staff turnover1 (#) Provisions for contingencies have been pressured by higher provisions related to labor claims, mainly resulting from the structural adjustments implemented between 2017 and 2022. With the decline in faculty term
Slide 27: D&A and Capex
D&A and Capex Capex History (R$MM) Variation in D&A and Capex¹ (R$MM) 544 -R$50 492 470 468 461 511 461 2021 2022 2023 2024 2025 D&A Capex 2025 2025 D&A ex-IFRS 16 and Capital gain history¹ (R$MM) Stabilization signal and The change in the investment profile — now more concentrated downward trend in
Slide 28: IFRS 16 Impact
IFRS 16 Impact Cash Disbursement – IFRS 16 Effect (R$MM) IFRS 16 Impact (R$MM) -R$30 437 388 407 350 373 Incurred 175 407 interest D&A 262 2022 2023 2024 2025 P&L impact Cash impact 2025 2025 P&L Impact – IFRS 16 Effect (R$MM) 413 418 426 437 The current asymmetry between IFRS 16 expense and rental