Slide 1: Half year results to 31 December 2022
B)3P Learning Half year results to 31 December 2022 By Executive Chairman Matthew Sandblom CEO Jose Palmero CFO Anton Clowes
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, 23 February 2023. No representation, express or implied, is made as to the fairness, accuracy, completeness or correctness of informa
Slide 3: 3P Learning: Better Ways To Learn
3P Learning Better Ways To Learn OUR PROGRAMS Reading ‘ 7 iti : “ t¢ Wn SAS Matthseees GEES, — brightpeth ROGRESS
Slide 4: Agenda
Overview of Results CEO Update Results & Cash Flow Outlook * Q&A ° Appendices Agenda @
Slide 5: Overview of Results
OVERVIEW OF RESULTS Matthew Sandblom
Slide 6: 1H23 Highlights
UNDERLYING EBITDA! REVENUE? $5.8m $52.6m +205% +18% vs pcp? vs pcp? UNDERLYING! CASH OUTFLOW FROM CUSTOMERS OPERATIONS BEFORE TAX ($5.4m im cash balan pep: prior Comparison period which is 1H22. Billings are reported on a ‘gross’ basis before any commissions are deducted by Apple or Google. Restrict
Slide 7: Strategic Initiatives
Strategic Initiatives @ Strategic initiatives for FY23 and beyond B2B Product Strategy Maths * Mathletics + Mathseeds + Mathseeds Prime Writing Gg Reading =| + Reading Eggs + Reading Eggspress * Writing Legends + Grammar + Fast Phonics + The Library + Reading Journal + WordFlyers a Assessment & Repo
Slide 8: CEO Update
® CEO UPDATE Jose Palmero
Slide 9: Operations and Profitability
eee MCR Operations and Profitability @ Operations Rl /5 = Brightpath operations now integrated. Product re-branded and new logo: brightpath PROGRESS: = Implemented B2B sales team restructure to focus on Solution Selling with dedicated New Business, Retention, and Customer Success functions. = New Ch
Slide 10: Performance in the Consumer Market
CEO UPDATE | Performance in the Consumer Market @ Consumer billings! performance for Reading Eggs, Mathseeds and Mathletics by platform and geography for 1H23 and 1H22, Billings by Platform ($m) Billings by Geography ($m) 18.6 1H23, 1H22 1H23 Website mApple mGoogle MAPAC MEMEA = Americas = Revenue w
Slide 11: Revenue by Product
65.9 64.4 - 1.4 0.8 0.6 7.4 7.8 ▪ 25.9 26.5 ▪ $m ▪ ▪ ▪ 30.3 29.6 FY22 1H23 Mathletics Reading Eggs Mathseeds Other Brightpath
Slide 12: Product Releases and Improvements
Writin Quecen Ro "eo, brightpath Mathsoees Product Releases and Improvements January to June 2023 End of Lessons Skills Quiz, new Awards and Certificates Avatar systems, M-coin, new Student Home Page and simpler Teacher Assign module, new certificates Phase 3 release for existing users (complete upg
Slide 13: Results & Cash Flow
@ RESULTS & CASH FLOW Anton Clowes
Slide 14: Revenue
1H23 1H22 Revenue B2B 32.0 25.6 04 25% B2C 20.6 18.8 8 10% Other revenue and other income 2 O1 (21) (100%) [Total revenue. 52.6 44.5 8.1 18% Cost of Revenue (2.4) (2.5) 01 4%) Gross Profit 50.2 42.0 8.2 20%| Expenses [Sales & Marketing (24.5) (22.3) (2.6) (12%) Product & Technology (12.9) (10.8) 2.1
Slide 15: B2C Performance Metrics
5 — “CH B2C Performance Metrics @ $m 1H23 1H22 +/- % +/- $m 1H23 1H22_+/- %+/- Gross Billings! 203 186 17 TI Revenue 206 18.8 18 10% Licences? (k) 314.0 315.0 (1.0) - ARPU? ($) 646 59.0 5.6 9% GYSSKSES Sales, Marketing & Cost of Revenue* 13.1) (12.2) (9 7% $m 1H23 1H22 +/- % +/- Contripution Margin
Slide 16: B2B Performance Metrics
5 — “CH B2B Performance Metrics @ $m 1H23 F sm % +/: Opening ARR 64.4 64.4 Revenue 25.6 25% Acquired business* 14 0.4 New business 3.4 5.9 Expenses. Net upsell/downsel 08 29 ‘Sales. Marketing & Cost of Revenue” (14.2) (12.6) (1.6) 13%| Netcom 1) 6.3) Contribution Margin 178 13.0 48 37% FX impact . 0
Slide 17: Cash Flow & Liquidity
Reclassed $1.7m merger-related ‘VAT payments ‘and $o.1m Brightpathy ‘corporate: ‘acquisition cost Underlying Cost Flow used in ‘Operations before Tox. (5.4m) Cash Balance Bridge Cash Flow & Liquidity — Includes 0.5m ‘WL vestment Inclucies $1.7m mergerselated ‘VAI payments. ‘and $8.6m net -$16.9m Bri
Slide 18: EBITDA Cash Flow Bridge
$100 $50 $00 -$50 Asm -$100 “$150 -$200 -$25.0 Underlying Cash Flow used in Operations before Tax: 5.4m) EBITDA Cash Flow Reconciliation EBITDA Cash Flow Bridge @ ($19.7) Underlying EBITDA Working Copital ‘Adjustments Net Tox Refund Net PPE & Intangibles ‘Additions Not Rent Paid & FX. Meiger-elated
Slide 19: Outlook
Slide 20: FY23 Guidance
® FY23 Guidance! We reaffirm FY23 guidance of: ¢ Revenue of between $111.0m and $115.0m; and ¢ Underlying EBITDA of between $15.0m and $18.0m. In addition, we expect to generate cash flow from operations before tax within the same Underlying EBITDA range of between $15.0m and $18.0m. 1. Subject to c
Slide 21: Q&A
Slide 22: Appendices
Slide 23: Glossary
a i Glossary @ Ter Definiti ARR Annual Recuring Revenue Churn Percentage is calculated as a proportion of the opening School ARR in a rolling 12 or 6 month Churn Percentage period (as relevant). EBITDA Earnings before interest, tax, depreciation and amortisation, restructure and integration costs, c
Slide 24: Purchase Price Accounting
a i Purchase Price Accounting @ A summary of the fair value of identifiable intangible assets, contract liability, deferred tax liability and net working capital for the Brightpath acquisition are in the table below: Fair Value 30 Sep 22 Net working capital (0.2) Intangibles - software 1.5) Intangib
Slide 25: End of presentation
(@)3P Learning Better Ways To Learn End of presentation. This presentation should be read in conjunction with other publicly available materials. Further information is available on 3P’s website at: www.3plearning.com/investors xeoclne) Mathseeds a Witins ones | Mathletics f “yw jatnseees LEGEN| bri