Slide 1: ASX SMIDcaps Conference Presentation (ASX Release)
ASX Release 24 September 2025 ASX SMIDcaps Conference Presentation ReadCloud Limited (ASX: RCL, “ReadCloud” or “the Company”) is participating in the ASX SMIDcaps Conference in Sydney today. The conference highlights some of the most promising small and mid-capitalisation companies on the Australian
Slide 2: ReadCloud (ASX:RCL) ASX SMIDcaps Conference September 2025
For personal use only ReadCloud (ASX:RCL) ASX SMIDcaps Conference September 2025
Slide 3: Proprietary software platform enabling seamless delivery of learning content
Proprietary software platform enabling seamless delivery of learning content Used by over 400 K-12 schools (students in 50+ countries with text-to-speech and translation in 120 languages) For personal use only 2
Slide 4: Proprietary software developed over ten years
Proprietary software developed over ten years ReadCloud has two highly scalable K-12 solutions delivering strong organic growth momentum • VET-in-schools grew by 32% in Signs first 1H25 For personal use only international • Generated $14.0m customer for operating eBooks. 6,500+ Andrew Skelton cashfl
Slide 5: Core platform underpins two highly-scalable solutions
Core platform underpins two highly-scalable solutions Proprietary software platform underpins two highly scalable, capital-light K-12 digital learning solutions For personal use only Core Offering Underpinned by Proprietary Digital Learning Software Platform VET-in-Schools eBooks Southern Solutions
Slide 6: School spend and retention rates are trending upwards
School spend and retention rates are trending upwards For personal use only VET-in-Schools1 eBooks2,3 14,258 75,428 11,491 70,988 71,473 10,450 Avg. Revenue per School (A$) 4 4 FY23 FY24 YTD25 FY23 FY24 YTD25 92% 91% 85% School Retention Rate5 85% 85% 74% 4 4 FY23 FY24 YTD25 FY23 FY24 YTD25 Note 1:
Slide 7: VET-in-Schools revenue growth is accelerating
VET-in-Schools revenue growth is accelerating VET-in-Schools organic revenue growth 32% 1H25 growth driven by: For personal use only ~90% $5.6m • 11% growth in customer numbers: 55 Schools added (372 total) $4.5m • 14% growth in Qualifications (courses delivered) to 733 $4.1m $3.8m • 92% School rete
Slide 8: Australian eBooks strengthening with optionality in other channels
Australian eBooks strengthening with optionality in other channels Direct1 eBooks revenue 10% 1H25 Growth in domestic Direct1 For personal use only ~20% eBooks driven by: $4.8m • Addition of 7 new Schools in 2025 (average revenue per new school is $56k1) $4.2m $3.9m • Increase in revenue per retaine
Slide 9: ReadCloud is a 5x-10x growth opportunity
ReadCloud is a 5x-10x growth opportunity Substantial market opportunity (≥5x growth) across domestic and international eBooks, and VETiS For personal use only VETiS eBooks 5x growth opportunity 5x-10x growth opportunity Australian VETiS (current share ~5%) Australian eBooks (current share ~5%) 5% (1
Slide 10: Scalable learning platform, positioned for growth
Scalable learning platform, positioned for growth For personal use only Proprietary software developed over ten years enables seamless delivery of learning content Software platform underpins highly scalable, capital-light, digital learning solutions Substantial improvements to the operating model i
Slide 11: Additional Information
For personal use only Additional Information 10
Slide 12: Corporate Snapshot
Corporate Snapshot Research coverage is available through RaaS Research ASX Code: RCL Substantial Shareholders For personal use only Share Price (19 September 2025) $0.083 Board and management shareholdings* 22.7% Market capitalisation $12.8m Thorney Group* 12.2% Shares on issue 153.6m Microequities
Slide 13: 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 For personal use only in summary form and does not contain all information necessary to make an inve
Slide 14: For personal use only
For personal use only 13