Slide 1: Robust, Resilient, Sustainable: Results for the Year Ended 2021
ROBUST ¢ RESILIENT » SUSTAINABLE RESULTS FOR THE YEAR-ENDED 2021
Slide 2: Strong Overall Performance
uP ANNUAL FINANCIAL RESULTS for the year ended 31 December 2021 STRONG OVERALL PERFORMANCE Revenue Operating Headline earnings profit per share 35% a 32% Normalised earnings Cash generated by Free operating cashflow per share operating activities before capex
Slide 3: Strong Overall Performance
STRONG OVERALL PERFORMANCE > i> I~ Schools division re) r0) Good results delivered with zero fee increase 6 Yo 26 Yo Strong enrolment growth in 2022 Revenue Operating profit Schools in the rest of Africa: Clear demonstration of potential Confidence for future expansion p p Tertiary division 4% 1 3 %
Slide 4: Group Revenue (R'm)
uP ANNUAL FINANCIAL RESULTS for the year ended 31 December 2021 GROUP REVENUE (R’M) Continued growth despite no fee increases in schools while tertiary implemented below inflation increases CAGR 11% 5917 2017 2018 2019 2020 2021
Slide 5: Group Operating Profit (R'm)
uP ANNUAL FINANCIAL RESULTS for the year ended 31 December 2021 GROUP OPERATING PROFIT (R’M) Continued strong growth 808 one aan. 2017 2018 2019 2020 2021
Slide 6: Group Operating Margin (%)
GROUP ANNUAL FINANCIAL RESULTS for the year ended 31 December 2021 GROUP OPERATING MARGIN (%) Improved due to: 184 Tey + Operating leverage resulting from 17,0 17,0 165 enrolment growth + Significant improvement in collections on trade receivables + Continued focus on efficiency improvements 2017 20
Slide 7: Schools Division
SCHOOL'S DIVISION > I> inw 6% 26% Revenue Operating profit Good results delivered with zero fee increase Strong enrolment growth in 2022 Schools in the rest of Africa: Clear demonstration of potential Confidence for future expansion
Slide 8: Schools brand segments
Progressive / Traditional / Specialised Mid-fee Early childhood Online / Modern Holistic academic support development homeschooling and assisted learning
Slide 9: Academic Results Achieved in South Africa
GROUP ANNUAL FINANCIAL RESULTS for the year ended 31 December 2021 ACADEMIC RESULTS ACHIEVED IN SOUTH AFRICA Outstanding academic delivery despite the pandemic disruptions Independent Examination : Board (IEB) results Department of Basic Education (DBE) results ADvTECH DBE students 94% matric pass r
Slide 10: Academic Results Achieved - Rest of Africa
ANNUAL FINANCIAL RESULTS for the year ended 31 December 2021 ACADEMIC RESULTS ACHIEVED - REST OF AFRICA Outstanding academic delivery establishing ADVTECH’s credentials 100% pass rate Cambridge International students (IGCSE Exams) 3 distinctions per candidate Gaborone International School 3.3 distin
Slide 11: Schools: Student Enrolments
uP ANNUAL FINANCIAL RESULTS for the year ended 31 December 2021 SCHOOLS: STUDENT ENROLMENTS Consistent growth through pandemic disruption Schools division Schools SA Schools rest of Africa 133 903} 6569 ii i ; [ i ; 2018 2019 2020 2021 2018 2019 2020 2021 2018 2019 2020 2021 + Allour brands includin
Slide 12: Schools: Student Enrolments
ANNUAL FINANCIAL RESULTS for the year ended 31 December 2021 SCHOOLS: STUDENT ENROLMENTS Strong enrolment growth in 2022 evidence of gathering momentum Schools division Schools SA cAGRE% —? cacRa% —? _—— “~~ _—_—— “™ 136 802 129599 133903 ii i ; [ 2018 2019 2020 2021 2022 2018 2019 2020 2021 2022 +
Slide 13: Schools: Revenue (R'm)
GROUP ANNUAL FINANCIAL RESULTS for the year ended 31 December 2021 SCHOOLS: REVENUE (R’M) Schools division Schools SA Schools rest of Africa _ee* 9% —_— _—* cAGR7% —"’ _— cAGRaT% — “a 4am 2017 2018 2019 2020 2021 2017 2018 2019 2020 2021 2017 2018 2019 2020 2021 Good enrolment growth - no fee increa
Slide 14: Schools: Operating Profit (R'm)
ANNUAL FINANCIAL RESULTS for the year ended 31 December 2021 SCHOOLS: OPERATING PROFIT (R’M) Enrolment growth driving performance combined with efficiency benefits Schools division Schools SA Schools rest of Africa _ cAGRO% —? CAGR 7% —? 4 —— “> i : : : i : : : ] fe) 22 2017 2018 2019 2020 2021 2017
Slide 15: Schools: Operating Margin (%)
uP ANNUAL FINANCIAL RESULTS for the year ended 31 December 2021 SCHOOLS: OPERATING MARGIN (%) Growth and efficiency improvements, improving profitablity Schools division Schools SA Schools rest of Africa Held margin despite Covid-19 : : : 2017 2018 2019 2020 2021 2017 2018 2019 2020 2021 2021
Slide 16: Tertiary Division
ANNUAL FINANCIAL RESULTS for the year ended 31 December 2021 ~ TERTIARY DIVISION Revenue Operating profit S Tertiary division Continuing the trend of good performance Quality academic offering with multi-mode of delivery
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Slide 18: Multi-channel modes of delivery available any time & at any place
Multi-channel modes of delivery available any time & at any place • • • • • • • • • • • • • •
Slide 19: Tertiary Division / Private University: The Independent Institute of Education
uP ANNUAL FINANCIAL RESULTS for the year ended 31 December 2021 TERTIARY DIVISION /“PRIVATE UNIVERSITY” The Independent Institute of Education (IIE) map THETNDEPENDENT wan INSTITUTEQE ABBAS iebcaton A, Commerce Law ao] > = a ts 2 g 2 = <= fe uv = o ir Fe Accounting Information and Bun HE: ans ew =o
Slide 20: Tertiary: Full Qualification Student Enrolments
uP ANNUAL FINANCIAL RESULTS for the year ended 31 December 2021 TERTIARY: FULL QUALIFICATION STUDENT ENROLMENTS Continued growth due to the quality of our academic offering and multi-mode of delivery CAGR7% 47539 _ a iF - “ 2018 2019 2020 2021 2022
Slide 21: Tertiary: Revenue (R'm)
uP ANNUAL FINANCIAL RESULTS for the year ended 31 December 2021 TERTIARY: REVENUE (R’M) Continued growth due to the quality of our academic offering and multi-mode of delivery Below inflation price increase 1719 Growth in both online and 1556 IN. 4% contact students 2017 2018 2019 2020 2021
Slide 22: Tertiary: Operating Profit (R'm)
uP ANNUAL FINANCIAL RESULTS for the year ended 31 December 2021 TERTIARY: OPERATING PROFIT (R’M) — CAGRI7% 539 496 415 aN 321 2017 2018 2019 2020 2021
Slide 23: Tertiary: Operating Margin (%)
ANNUAL FINANCIAL RESULTS for the year ended 31 December 2021 TERTIARY: OPERATING MARGIN (%) Continue to drive operational efficiencies 24,1 23,1 20,7 2017 2018 2019 23,0 2020 2021
Slide 24: Resourcing Division
MW ANNUAL FINANCIAL RESULTS for the year ended 31 December 2021 RESOURCING DIVISION AN. 20% R39 million Revenue Operating profit ~ Resourcing division Profit recovery after COVID-19 disruption Strategy to expand into the rest of Africa delivers good results Growing additional business segment Increa
Slide 25: Diverse Brand Portfolio
ANNUAL FINANCIAL RESULTS for the year ended 31 December 2021 DIVERSE BRAND PORTFOLIO Resourcing division africaHRsolutions ) Financial Py Appointment CA GL& BAL AFRICA RECRUITMENT casselNico financialGaccounting reorulmare epeoaists Communicate Recruitment Connecting Great People NETWORK TECH-PRO Le
Slide 26: Resourcing: Revenue (R'm)
uP ANNUAL FINANCIAL RESULTS for the year ended 31 December 2021 RESOURCING: REVENUE (R’M) Resourcing division Resourcing SA Resourcing rest of Africa ener _ a eset 40> 40> 4 2017 2018 2019 2020 2021 2017 2018 2019 2020 2021 2017 2018 2019 2020 2021 * Recovery in SA Profit recovery after COVID-19 dis
Slide 27: Resourcing: Operating Profit (R'm)
uP ANNUAL FINANCIAL RESULTS for the year ended 31 December 2021 RESOURCING: OPERATING PROFIT (R’M) Resourcing division Resourcing SA Resourcing rest of Africa CAGR 5% — —_—— —_— cAGR 15% 4 33 A a a | s | 2017 2018 2019 2020 2021 2017 2018 2019 2020 2021 2017 2018 2019 2020 2021
Slide 28: Resourcing: Operating Margin (%)
uP ANNUAL FINANCIAL RESULTS for the year ended 31 December 2021 RESOURCING: OPERATING MARGIN (%) 3,8 0,3 a 2017 2018 2019 2020 2021
Slide 29: Strong Financial Performance
GROUP STRONG FINANCIAL ~~ PERFORMANCE rT
Slide 30: Tertiary
3% 17% 2021 0% 2021 15% Schools 42% 42% 42% 41% 2020 Tertiary 2020 59% Resourcing 55% 43% 41%
Slide 31: Debtors Provision - Trade and Other Receivables
uP ANNUAL FINANCIAL RESULTS for the year ended 31 December 2021 DEBTORS PROVISION - TRADE AND OTHER RECEIVABLES m R'm Change 31 Dec 2020 31 Dec 2021 Trade receivables (7%) 609.2 564.8 Loss allowance (15%) (375.7) (321.0) 4% 233.5 243.8 Other receivables 35% 36.8 49.6 Trade and other receivables 9% 2
Slide 32: Schools SA: Gross Trade Receivables (R'm)
uP ANNUAL FINANCIAL RESULTS for the year ended 31 December 2021 SCHOOLS SA (R’M) Gross trade receivables 2020 2019 2018 2021 72 January February March April May June July August September October November December
Slide 33: Cash Flow Generation by Operating Activities
uP ANNUAL FINANCIAL RESULTS for the year ended 31 December 2021 CASH FLOW GENERATION BY OPERATING ACTIVITIES Emphasises the inherent cash generating ability of our business cAGR IS aN 16% 1472 2 5 Uu 2017 2018 2019 2020 2021
Slide 34: Cash vs Net Borrowings
uP ANNUAL FINANCIAL RESULTS for the year ended 31 December 2021 CASH VS NET BORROWINGS Strong cash generation and sound balance sheet | P| “> Covenants net 806 1088 borrowings: EBITDA Banks: 3.5 les Leal 4 (1546) Internal: 3.0 Actual: 1.6 [Prior year: 2.1] . 2017 2018 2019 2020 2021 Ratio = Net borr
Slide 35: Investment vs ROFE
GROUP ANNUAL FINANCIAL RESULTS for the year ended 31 December 2021 INVESTMENT VS ROFE 194% o in Ca 2015 2016 2017 2018 2019 2020 2021 mmm Capex + Acquisitions }@=ROFE
Slide 36: Capex Projects
uP ANNUAL FINANCIAL RESULTS for the year ended 31 December 2021 . os oa oe oo oo » Capex Projects oe oo oo oo os oa : 341.9 | : 175,2 l 147,9 12,7 6,1 — | 1 new tertiary sites Student management and finance systems Additions to existing sites Furniture, Fittings, IT and vehicles
Slide 37: Schools Building Utilisation
uP ANNUAL FINANCIAL RESULTS for the year ended 31 December 2021 SCHOOLS BUILDING UTILISATION Feb-17 Feb-18 Feb-19 Feb-20 Feb-21 Feb-22 Students enrolled (000) 26.7 27.4 30.8 32.4 33.9 36.8 Existing building capacity ('000) 31.2 33.0 38.2 41.2 41.5 44.5 % Existing building capacity utilised 86% 83% 8
Slide 38: Building Competitive Advantage
GROUP BUILDING COMPETITIVE ADVANTAGE
Slide 39: Strategic Objectives
uP ANNUAL FINANCIAL RESULTS for the year ended 31 December 2021 STRATEGIC OBJECTIVES SOCIO-ECONOMIC ENVIRONMENT PereeeESSSSESSSSSESSSSSSSSSSSSSOSESESISOSESESESOSESESESESESESESESESESESESOSOOOMMG | o\(71 (0) 5 MMT ESESEESESESESESESESSSSSSSSSESEOESESOSESESSSOSESESSSOSOSeSeeeSe ee Seeeeeeeeeeess i Growt
Slide 40: Ability to Leverage Scale
—~cRoUP_ ANNUAL FINANCIAL RESULTS for the year ended 31 December 2021 Ability to leverage scale Continued growth in SA: * Comprehensive well stablished footprint * Established premium brands Growing mid-fee brands Good growth opportunities in the rest of Africa Growing demand for quality education H
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Slide 42: Leading in Teaching and Learning
uP ANNUAL FINANCIAL RESULTS for the year ended 31 December 2021 LEADING IN TEACHING AND LEARNING Integrated education business in both schools and tertiary contial Academic Te, Experts in teaching and learning
Slide 43: Tech Enabled Education
ANNUAL FINANCIAL RESULTS for the year ended 31 December 2021 TECH ENABLED EDUCATION Leveraging the capability across the schools and tertiary divisions Systems capability & standardisation CRM Student registration Billing Debt collection Graduation Accreditation Performance management Remuneration T
Slide 44: Slide 44
Slide 45: Benchmarking and productivity ratios
Benchmarking and productivity ratios • • Consolidation of • transactional processing • Minimising administration • costs through automation
Slide 46: ADvTECH Competitive Advantage
ACvECH GROUP ANNUAL FINANCIAL RESULTS for the year ended 31 December 2021 ADVTECH COMPETITIVE ADVANTAGE Leaders in teaching and learning Embedding technology for education Leveraging scale to de
Slide 47: Investment Case
—SROUP ANNUAL FINANCIAL RESULTS for the year ended 31 December 2021 INVESTMENT CASE
Slide 48: Quality asset base
ACviECH —cRouP ANNUAL FINANCIAL RESULTS for the year ended 31 December 2021 Quality asset base + Well established brand portfolio + Significant free cash generation Fa + Sound balance sheet + Good financial controls. ADvTECH subscribes to relevant ESG principles J <x
Slide 49: Solid Platform Poised for Further Growth into the Rest of Africa
GROUP ANNUAL FINANCIAL RESULTS for the year ended 31 December 2021 SOLID PLATFORM POISED FOR FURTHER GROWTH INTO THE REST OF AFRICA Quality education asset - education stock of choice Population will double to 2.5bn by 2050 1.2bn will need education 66m scholars in private education in 2021 Urbanisa
Slide 50: Investment Case
—~cRoUP_ ANNUAL FINANCIAL RESULTS for the year ended 31 December 202 INVESTMENT CASE Uniquely positioned with real ADvTECH competitive advantage
Slide 51: – careful and – anytime, anywhere
Commitment to Capable of multi- academic mode of delivery Ongoing demand Continue to excellence is and wide variety of for quality drive operational Our ability to central and education offerings education in SA efficiencies, consistently deliver fundamental to – anytime, anywhere and rest of Africa
Slide 52: Prospects: Enrolment Growth
GROUP ANNUAL FINANCIAL RESULTS for the year ended 31 December 2021 PROSPECTS: ENROLMENT GROWTH Good enrolment growth reflecting our commitment to excellence Feb 21 vs Enrolments Feb-18 Feb-19 Feb-20 Feb-21 Feb-22 Feb 22 increase Schools: South Africa 25,443 25,448 26,393 27,334 29,599 8% Schools: re
Slide 53: Declaration of Dividend
uP ANNUAL FINANCIAL RESULTS for the year ended 31 December 2021 INVESTMENT CASE Declaration of dividend > Ga aX 3 1 Ocents 50.Qcents Final gross dividend Full year dividend per share per share 20.Qcents 20.Qcents 2020 2020
Slide 54: Questions
ACvECH ANNUAL FINANCIAL RESULTS for the year ended 31 December 2021 e a EN <> oe + oe . e'®> - Ae MBC w® ee Of mS* “oor ace Br, UL Ene QNt4 . oe" MN aU * Ja? QUESTIONS
Slide 55: Thank You
ADvicCH ROU P THANK YOU