Slide 1: Investor & Analyst Briefing
Investor & Analyst Briefing Full year ended 30 June 2025 Presented: 29 August 2025 by Chairman Matthew Sandblom CEO Jose Palmero CFO Adam McArthur 3P Learning Limited
Slide 2: Important Notice and Disclaimer
Important Notice and Disclaimer The material in this presentation is a summary of 3P Learning Limited’s (“3P”) activities and results as at the time of preparation, 29 August 2025. No representation, express or implied, is made as to the fairness, accuracy, completeness or correctness of information
Slide 3: Our Programs
Our Programs Acquired Jan 3, 2025 Improving student Improving student Teaching children Learning to read Where children Writing and maths achievement in engagement foundational made fun and learn to write with assessment spelling, grammar and achievement maths and rewarding for confidence and that m
Slide 4: Agenda
Agenda • Chairman’s Update • Outlook • CEO Update • Q&A • CFO: Results & Cash Flow • Appendices 4
Slide 5: Chairman's Update
Chairman’s Update Matthew Sandblom
Slide 6: FY25 Highlights and Product Investment
Chairman’s Update FY25 Highlights and Product Investment Improved profitability and cash, sales steady : • Underlying EBITDA is up 30% and net cash balance at $11.6m, $6.5m higher than last year • Revenue was down 1% on FY24 at $109.1m • Cost management initiatives are delivering profit improvement
Slide 7: FY25 Highlights B2B and B2C
Chairman’s Update FY25 Highlights B2B and B2C B2B evolving as we transition to 3 Essentials and expand in US • 3 Essentials launched in APAC and EMEA with good early signs • Have completed a full renewal cycle since acquisition of Reading Eggs US school rights from Edmentum. Now we have direct contr
Slide 8: FY26 Objectives
Chairman’s Update FY26 Objectives • In FY25, the overall story was to keep profitability up and to continue our business transformation while sales were steady • We are beginning to see improved productivity from the introduction of AI across most areas of the business • Key objectives for FY26 are
Slide 9: CEO Update
CEO Update Jose Palmero
Slide 10: FY25 Highlights
CEO Update FY25 Highlights UNDERLYING1 EBITDA REVENUE3 B2C BILLINGS4 B2B ARR $15.5m $109.1m $42.9m $61.6m +30% -1% -1% -1% vs pcp2 vs pcp vs pcp vs pcp UNDERLYING1 CASH CUSTOMERS PRODUCT FLOW FROM OTHER INVESTMENT OPERATIONS BEFORE TAX 5.0m $27.0m $1.5m • $23.0m Product development - $14.2m • B2B Li
Slide 11: Performance in the Consumer Market (B2C)
CEO Update Performance in the Consumer Market (B2C) Consumer billings1 were steady in FY25 vs FY24 across all key markets and channels. • Reading Eggs, Mathseeds, and Mathletics billings were $42.9m, down 1% on pcp. • Net billings contribution margin of 53%, including direct sales, marketing and pla
Slide 12: Launch of Homeschool Max
CEO Update Launch of Homeschool Max We launched an upgraded version of Reading Eggs targeting the growing Homeschool market in the US. Homeschool Max Details • Target – US Homeschool families • Priced at USD299, which is 3x the price of basic Home package • Substantial additional functionality with
Slide 13: Performance in the Schools Market
CEO Update Performance in the Schools Market FY25 FY24 +/- % +/- The graph below shows school ARR trajectory for FY24 1 Closing ARR ($m) 61.6 62.1 (0.5) (1%) (Jun-24) and FY25 (Jun-25). 2 Licences (m) 4.7 4.8 (0.1) (2%) Exit ARPU3 ($) 13.2 12.9 0.2 2% • Closing ARR1 was $61.6m, 1% lower than 30 June
Slide 14: 3 Essentials
CEO Update • 3 Essentials combines our evidence-based programs for reading, writing and maths into an integrated solution with SSO, simpler navigation, easy class management and consolidated reporting. • Package price represents best value to schools with simplified bundle pricing rolled out. • Laun
Slide 15: AMER Update
CEO Update AMER Update • In April 2024 we bought back the US Schools distribution rights for Reading Eggs from Edmentum for A$20m. AMER Contribution Margin 35% 30% Update : 25% • We retained 76% of billings for the 4,300 schools we transitioned from Edmentum in the first renewal season. This 20% was
Slide 16: Our Strategy
CEO Update Our Strategy Our company purpose is “Better Ways to Learn”, focused on the fundamental skills for academic success – Reading, Writing and Maths (the 3Rs). B2B B2C Markets (AMER, EMEA, APAC) Markets (AMER, EMEA, APAC) 16
Slide 17: B2C Strategy
CEO Update B2C Strategy B2C key drivers for growth Improve user Homeschool Improve parent experience and Market dashboard and conversion with AI expansion reporting supported growth experiments ● Launched Reading Eggs ● Enhance parent dashboard and ● Increase testing on registration Homeschool max,
Slide 18: B2B Strategy
CEO Update B2B Strategy B2B key drivers for growth Revenue Customer retention USA market - improved growth through expansion 3 Essentials profitability and efficiency ● Prioritise selling complete ● Expand our US based sales team to ● Roll out simplifications to renewal solution for reading, writing
Slide 19: Product Releases and Improvements
CEO Update Product Releases and Improvements Achieved in FY25 What’s coming in FY26 90% of customers migrated. Proving ROI to schools. Subscription usage data for admins delivered. Improved Onboarding Cross-program reporting implemented Wonde Integration, NSW DOE SSO, plus others. Long-awaited readi
Slide 20: CFO: Results & Cash Flow
CFO: Results & Cash Flow Adam McArthur
Slide 21: P&L Key Drivers
Results Analysis P&L Key Drivers Profit and Loss Statement $m FY25 FY24 +/- %+/- Revenue • B2B revenue decreased by $1.4m against pcp due to declining B2B 65.5 66.9 (1.4) (2%) B2C 43.4 43.1 0.3 1% licence numbers, primarily impacted by the transition from Other income 0.2 0.0 0.2 nm Edmentum in the
Slide 22: B2C Performance Metrics
Results Analysis B2C Performance Metrics $m FY25 FY24 +/- % +/- $m FY25 FY24 +/- %+/- Gross Billings 1 42.9 43.3 (0.4) (1%) Revenue 5 43.4 43.1 0.3 1% Licences2 (k) 276.0 290.0 (14.0) (5%) 3 Expenses ARPU ($) 155.4 149.3 6.1 4% Sales, Marketing & Cost of Revenue 6 (25.0) (24.5) (0.5) (2%) Contributi
Slide 23: B2B Performance Metrics
Results Analysis B2B Performance Metrics $m FY24 FY25 $m FY25 FY24 +/- % +/- Opening ARR 65.4 62.1 Revenue3 65.5 66.9 (1.4) (2%) 1 Acquired business - 2.2 New business 5.5 5.4 Expenses Net upsell/downsell 2.3 1.7 Sales, Marketing & Cost of Revenue 4 (30.9) (35.8) 4.9 14% Net churn (10.7) (11.2) Cont
Slide 24: Cash Bridge
Results Analysis Cash Bridge • Underlying Cash Flow from Operations before tax was $14.2m. • Net PPE & intangibles addition of $4.8m. • Acquisition of Literacy Planet – net of cash payment $0.9m. • Closing net cash2 of $11.6m at 30 June 2025, up $6.5m from prior year. • No external borrowings. 1. Pr
Slide 25: Outlook
Outlook
Slide 26: Medium Term Outlook
Outlook Medium Term Outlook Our focus for FY26 and beyond is profitable growth • Increase school adoption of the 3 Essentials in APAC and EMEA • Drive strong growth in AMER in school districts and homeschool markets • Deliver productivity gains by simplifying our sales, marketing and business proces
Slide 27: Q&A
Q&A
Slide 28: Appendices
(@)3P Learning
Slide 29: Glossary
Appendices Glossary Term Definition ARR Annual Recurring Revenue Churn Percentage Churn Percentage is calculated as a proportion of the opening School ARR in a rolling 12 or 6 month period (as relevant). Earnings before interest, tax, depreciation and amortisation, excluding unrealised foreign excha
Slide 30: Thank You
Thank You