Slide 1: Acquisition of Ripponlea Institute Pty Ltd
ReadCloud Limited Acquisition of Ripponlea Institute Pty Ltd - a leading Vocational Education and Training provider Investor Presentation - 1 June 2021
Slide 2: Acquisition Overview
Acquisition Overview Agreement to acquire 100% of Ripponlea Institute Pty Ltd (“Ripponlea”) for up to $1.8 million 1 4 Headquartered in Melbourne, provides nationally accredited VET programs mostly for the language industry to 70 secondary schools throughout Australia Ripponlea 4 National market lea
Slide 3: Overview of Ripponlea
Overview of Ripponlea • Leading Registered Training Organisation (“RTO”) delivering proprietary VET courses mainly in 12 Languages Provided by Ripponlea: Chinese the Applied Languages sector to 70 secondary schools throughout Australia French • Provides Cert II & III courses in Applied Languages cov
Slide 4: The Australian Vocational Education Sector
The Australian Vocational Education Sector • Increased delivery of VET courses in-school is a key component of the Australian government’s strategy to increase secondary school student retention and improve year 12 or equivalent completion rates, by providing broader options for all students • Cours
Slide 5: Transaction Rationale
Transaction Rationale Ripponlea provides complimentary and highly regarded proprietary VET courses to 70 schools across Australia § Ripponlea is the clear market leader in the languages segment of the VET-in-schools market Expands presence in the § Expands ReadCloud’s product offering in the VET-in-
Slide 6: Acquisition Terms
Acquisition Terms • ReadCloud to acquire 100% of the issued capital of Ripponlea Institute Pty Ltd • The purchase price is up to $1.8 million including a 2 year earn-out • Acquisition will be funded by existing cash and the issue of shares, with consideration in three tranches based on performance:
Slide 7: Key Investment Highlights
Key Investment Highlights • ReadCloud is the leading digital education solution for Australian schools, delivering clear educational benefits and saving schools and students money • ReadCloud is growing rapidly with over 113,000 users in over 570 school customers with ongoing growth in market share
Slide 8: Corporate Snapshot
Corporate Snapshot ASX Code: RCL Substantial Shareholders Share Price (31 May 2021) $0.38 Thorney Group* 10.1% Market capitalisation (@ 38 cents) $44.0m Kinderhook LP 8.5% Shares on issue (listed) 118.3m Lars Lindstrom 7.2% Options on issue (unlisted) 1.5m Hunmar Holdings/Darren Hunter* 6.0% Current
Slide 9: Disclaimer
Disclaimer This presentation has been prepared by ReadCloud Limited (“Readcloud”), based on information available as at the date of this presentation. The information in this presentation is provided in summary form and does not contain all information necessary to make an investment decision. This
Slide 10: ReadCloud Limited Lars Lindstrom
ReadCloud Limited 284 Bay Street Brighton VIC 3186 Lars Lindstrom | CEO lars@readcloud.com 10