Slide 1: Cluey Learning
CLUEY + LEARNING
Slide 2: Agenda
» Agenda Welcome Mark Rohald, Executive Deputy Chairman Business Update & Key Achievements Matteo Trinca, Joint CEO FY23 Full Year Results Greg Fordred, CFO FY24 Key Initiatives &Outlook Matteo Trinca, Joint CEO Q&A & Mark Rohald Executive Deputy Chairman Trevor McDougall Joint CEO & Matteo Trinca J
Slide 3: Business Update & Key Achievements
Business Update & Key Achievements
Slide 4: FY23 Overview
» FY23 Overview 1. CONTINUING REVENUE GROWTH A AND REDUCTION IN CAC 7 Delivered revenue growth of 15% YoY, from $34.3m in FY22 to $39.4m in FY23. CAC improvements of 18% YoY. CAC down to $352. 4. RETURN ON PRODUCT & TECHNOLOGY INVESTMENT Investment in product and technology delivering results — redu
Slide 5: Streamlining customer and tutor operations
Streamlining customer and tutor operations Customer Hub Improvements - Reschedule any session + — Summer offboarding and reactivation + Selection/change of pricing plans - New telephony system integrated with customer Hub New & Improved Tutor Hub Full scheduling management in Hub + Optimisation of t
Slide 6: New programs expand a strong and unique offering
New programs expand a strong and unique offering Jurassic World Minecraft Animation Camp Engineers Ages 5-7 years Roblox Little Hes. Oo ‘Ages5-7 years ges 7.10 years Gon Minds rae: Ages 5-7 years Broad market appeal driving higher student reactivation, retention and new customers. de® Ignite xyle Bl
Slide 7: Scaling presence in schools through after-school programs
> Scaling presence in schools through after-school programs Strategic & Focused Approach Ongoing investment in sales to acquire new venues. Strong parallels between Australia and UK markets, with strong demand and product-market fit. Planning to launch new programs, designed and optimised for after-
Slide 8: Jul-22 Aug-22 Sep-22
240 .0 230 .0 220 .0 210 .0 200 .0 190 .0 180 .0 170 .0 160 .0 150 .0 140 .0 Jul-22 Aug-22 Sep-22 Oct-22 Nov-22 Dec-22 Jan-23 Feb-23 Mar-23 Apr-23 May-23 Jun-23
Slide 9: Full Year Results
Full Year Results
Slide 10: FY23 Snapshot
) Cluey’s focus on driving to profitability delivers improved unit economics and FY? 3 S n a ps h ot significant cost savings. The demand for tutoring and co/extra curricular learning remains strong. >599,000 1% Student sessions in FY23, up 11% from 538,000 (vs. PCP) >2,900 Active Cluey Learning tut
Slide 11: 70,0 60,0 50,0 40,0 30,0 20,0 00 200 10,0 00 100 - -
70,0 00 700 60,0 00 600 50,0 00 500 40,0 00 400 30,0 00 300 20,0 00 200 10,0 00 100 - -
Slide 12: Improvement in Cluey CAC
» = Improvement in Cluey CAC CAC PER NEW STUDENT & PAYBACK IN NUMBER OF SESSIONS TO RECOVER CAC $1,371 Key Metrics & Highlights FY23 Variable CAC per new student reduced to $352, an improvement of 18% on PCP In FY23, CAC and tutor cost recovery reduced to 9 student sessions FY19 FY20 FY21 FY22 mmm V
Slide 13: LTR, LTV and CAC
70 60 50 40 30 20 10 - LTR $2,162 $2,259 $1,779 LTV $1,174 $1,197 $1,018 CAC $563 $429 $352
Slide 14: 70.0 60.0 50.0 40.0 30.0 20.0 10.0 -
70.0 0 60.0 0 50.0 0 40.0 0 30.0 0 20.0 0 10.0 0 -
Slide 15: Improvement in Cluey Operating Leverage
> Improvement In Cluey Operating Leverage COSTS AS % OF REVENUE Operational Efficiency Enhancements Marketing costs as % of revenue declined 11% on PCP to 31% Employment costs! as % of revenue declined 13% on PCP to 48% Q4 FY23 In Q4 FY23, employment costs as % of. revenue decreased to 40% as a resu
Slide 16: Improvement in Cluey Financial Performance
> Improvement In Cluey eens return inundewvineesiTon oo Financial Performance SUMMARY CONSOLIDATED FINANCIAL RESULTS — FY23 $ ns FY23 FY22 Percentage Change Revenue 39.4 34.3 415% Cost of sales (16.8) (16.1) +4% Gross profit 22.5 184 +24% Gross profit margin (%) 57% 53% +8% Marketing expenses (12.3)
Slide 17: Underlying EBITDA
U n d erl j n E B | TDA Cluey’s focus on driving to profitability delivered 20% improvement in y g full year underlying EBITDA and 46% improvement in Q4 FY23 EBITDA UNDERLYING EBITDA BRIDGE — FY22 TO FY23 20 UNDERLYING EBITDA BRIDGE — Q4 FY22 TO Q4 FY23 © on 0 Ez 1.2 a * — . oa | 0.3 : 40 — — Q4FY23
Slide 18: Underlying EBITDA
» Underlying EBITDA QUARTERLY UNDERLYING EBITDA - FY23 v FY22 -2.0 a Q2 —FY22 ——F 23 a3 Cluey’s focus on driving to profitability delivered 20% improvement in full year underlying EBITDA and 46% improvement in Q4 FY23 EBITDA a4 46% improvement in @4 FY23 EBITDA driven by cost-saving initiatives impl
Slide 19: FY24 Key Initiatives & Outlook
Slide 20: FY24 Key Initiatives
thy A Cluey is building a portfolio of learning servicesto become the trusted > FY2 4 Key | n iti atives destination for schoo-age students and their parents Ea AkSRG (i Extend Cluey’s Scale co/ Leverage product, technology and extracurricular offering generative Al platform advantages YY x Maintain
Slide 21: Building the go-to destination for out-of-school learning
Building the go-to destination for out-of-school learning Maths Tutoring for Sophie, my 7 td ht t li ith * youngest daughter, struggling wii C } “CLU EY numbers and in need of support o = LEARNING Holiday camp for Sophie, she SO loves ‘interior design’ and wants e@ CopECAMP to explore her passion Ex
Slide 22: Bringing it all together to create connected experiences
Bringing it all together to create connected experiences We have already built most elements of the learning experience... Live Learning Tutor Hub Customer Hub Environment Tailored to provide interactive and engaging tutoring experience. Focused on managing and supporting our tutors, enabling them t
Slide 23: A pricing model that extends reach and share of wallet
» =§=Apricing model that extends reach and share of wallet Pricing Model Enhancements + New range of pricing and service flexibility options, allowing users to configure their service more optimally. © More flexibility at a higher price © Less flexibility for cancelling or pausing sessions at a lowe
Slide 24: Unique programs for students to explore their passions in STEAM
Unique programs for students perenne Stony toeos en STEAM. to explore their passions Science Technology Engineering Arts Mathematics wa Experiential Learning (a) a iN In a class Highly Hands-on Online of up to 16 students engaging teachers/tutors applications extensions IGLUEY + Soup
Slide 25: • • • • • • • • • • • • • •
• • • • • • • • • • • • • • • • • • • • • • • • • • • • •
Slide 26: Diversified portfolio with multiple paths to profitability
» Diversified portfolio with multiple paths to profitability Expanding investments with immediate payback Holiday camp & after-school programs provide an immediate return on investment Minimal marketing investment required to drive enrolments Up-front payment by customers reduces working capital req
Slide 27: Significant opportunities in existing and new markets
) — Significant opportunities sxnandon opparunitos Traning aed ew mata in existing and new markets Offshore Expansion The Cluey Learning model in Australia is the blueprint for our expansion strategy, guiding how we roll out our offerings internationally wv We can enter markets organically, (as we h
Slide 28: Appendix & Business Overview
Slide 29: Q&A
Slide 30: Underlying EBITDA
» Underlying EBITDA Reconciliation of Statutory loss to Underlying EBITDA ($’000) FY23 FY22 Statutory loss before income tax (19,210) (20,897) + Amortisation of acquired intangibles 1,166 875 + Depreciation and amortisation — other 2,163 860 + Net Finance costs (286) (39) EBITDA (16,167) (19,201) Ad
Slide 31: Positive Contributions driving enhanced service and cost savings
» Positive Contributions driving enhanced service and cost savings by Cluey Learning & Code Camp SUMMARY CONSOLIDATED FINANCIAL RESULTS — FY23 FY23 SUMMARY = = 8=— + Both business units were profitable at the divisional contribution level otal + Gross profit margin (%) improved to 57% for both Cluey
Slide 32: Balance Sheet
nce Sheet Cash and term deposits at bank Other current assets Total current assets Plant and equipment Right-of-use assets Intangible assets Total assets Trade and other payables Provisions Lease liabilities Contract liabilities Total current liabilities Lease liabilities (non-current) Deferred tax
Slide 33: Comprehensive learning plan focused on student's specific needs
Comprehensive learning Comprehensive learning plan plan focused focused Live 1-to-1 or small group learning sessions with on student’s on student’s specific specific needs needs an expert tutor via Cluey’s online learning platform Detailed capture of learning data and feedback to inform Independent
Slide 34: What Code Camp Does
Code Camp is a leading provider of holiday and after- > Wh at Cod e Ca m p Does school coding and digital skills programs for school children in Australia and the UK. Delivered in-person and online. TEACH KIDS TO CODE & } JavaScript as HTML, CSS and jQuery Game design, digital storytelling, problem
Slide 35: Disclaimer
<CLUEY + 6D = LEARNING Disclaimer This presentation + is not an offer, invitation, inducement or recommendation to purchase or subscribe for any securities in Cluey Ltd ("Cluey") or to retain any securities currently held; + is for information purposes only, is in summary form and does not purport t
Slide 36: Cluey Learning
-CLUEY + . LEARNING