Pearson : Earnings Document

Introduction to Pearson

May 2026

Helping People Realise The Life They Imagine Through Learning

The World's Lifelong Learning Company

Contents

20 Financial Overview

30 Business Units

5

Pearson: A snapshot

Experienced Senior Team

Strong Financials

Company Overview

Omid Kordestani

Chair

Omar Abbosh

Chief Executive Officer

Simon Robson

Chief Financial Officer

Group Sales (£bn)

(exc OPM & Strategic Review*)

3.4

3.6 3.6 3.6

2020 2021 2022 2023 2024 2025

22.7

24.0

25.2

Dividend per share (p)

2020 2021 2022 2023 2024 2025

Adjusted operating profit (£m) & Margin (%)

15.6% 16.9%17.2%

11.2% 11.9%

9.2%

573

614

600

2020 2021 2022 2023 2024 2025

Free cash flow (£m)

2020 2021 2022 2023 2024 2025

• The world's lifelong learning company: assessment h verification at our core, serving all ages and stages of learning, with a diverse customer set across institutions, enterprises and consumers

• Scaled business: £3.6bn of sales across five global business units with unique characteristics and enduring competitive strengths

• Trusted business: gained through a long track record of operational excellence in our large-scale services businesses and through our quality IP, expertise in how people learn and how to deliver evidence of learning outcomes within formal education institutions

• Three priorities for 2026:

• Deliver on 2026 group guidance

• Lead on application of innovative technologies, like AI, driving better attainment outcomes and enhanced experiences

• Progress core business and enterprise power metrics

*Group Sales at reported FX rates. Group sales CAGR on an underlying basis excluding OPM and Strategic Review businesses

The average US dollar rate for the year against sterling was: 2020 $1.28, 2021 $1.38, 2022 $1.24, 2023 $1.25, 2024 $1.28, 2025 $1.32 6

Diversified portfolio, with broadest scope of any education company

Pearson by business unit

Pearson by region

Assessment and Qualifications

Delivers the assessments that help people demonstrate their knowledge

from school to professional careers

45% of sales

59% of profit*

23% margin*

FY25 Sales

Virtual Learning

Higher Education

Delivers high quality, affordable, accessible online learning for K12 students

Delivers digital, high quality learning experiences to millions of college students worldwide

14% of sales

4% 3%

10%

2%

14%

67%

13% of profit*

16% margin*

22% of sales

15% of profit*

12% margin*

English Language Learning

Enterprise Learning & Skills

Helps people develop and validate their English proficiency

Provides career-focused qualifications and enterprise talent solutions, including skilling content, assessments and digital credentialing.

11% of sales

8% of profit*

12% margin*

8% of sales

5% of profit*

10% margin*

*Adjusted operating profit

7

Our unique characteristics deliver strong, durable cash flows

~ 90% Profit

Operationally complex physical and digital workflows and print

~80%+

Assessment and Verification

h Virtual Schools

Assessment & Verification

• Interconnected physical and digital workflows enable large scale delivery in highly regulated markets

• High levels of security requirements, statistical evidence bases, meeting regulatory outcomes

• AI can enhance the productivity of our operations and improve services to customers

  Virtual Schools

• Complex, human led services deliver a complete K12 school online, aligned to high state regulatory standards

• AI can be used to improve teacher and student experience

  Print Courseware

  • Many countries and customers will require print-based products for foreseeable future

  ~10% Profit

  Digital courseware, embedded in critical workflows

  Digital Courseware

  • Products to enable educators to deliver courses end to end

  • Established customer relationships with high switching costs

  • Tightly integrated into higher ed platforms

  • AI plays important role in personalization and is leading to

    improved learning outcomes

    8

    Enduring competitive strengths provide platform for future growth

    Leading positions

    Long history of operational excellence

    Deeply embedded

    Proprietary datasets

    Trust

    • Leading market positions at Business Unit level across most of our businesses

    • Scale economics and strong operational leverage

    • Well positioned to expand into faster growing adjacent markets

    • Breadth of offerings unmatched globally

    • Extensive track record of operational excellence resulting in strong renewal rates

    • A very high bar for accreditation authorities and regulators, meaning that strength in operational delivery matters

    • Long-term contracts

    • Offerings act more as infrastructure within the world's learning h skills industry

    • Our products are tightly integrated with learning management and student information systems

    • Unique datasets improve insight into how people learn

    • Petabytes of proprietary data that we use to improve learning experiences and outcomes

    • Strategic partnerships with leading technology companies

    • Trust underpins all of these strengths

    • Trust has been gained through operational excellence and through our quality IP, expertise in how people learn and clear evidence of learning outcomes

    • Trust in verified skills and quality providers even more important in an AI era

9

Two seismic trends provide a tailwind for Pearson

Demographic shifts and the advance of AI are driving major demand for skilling and the validation of skills. Enterprises will need to upskill workforces at pace to keep up with rapid technology changes, and institutions will need to provide alternative skilling pathways for vocational and career and technical education.

Mega trends Upskilling

Demographics

AI

demand

Pearson is perfectly positioned to benefit from increased global demand for human skilling

10

Strategic outline underpinning mid-single digit growth outlook

Why

The World's Lifelong Learning Company Helping people realise the life they imagine through learning

What

Driving performance in the core business

Execution synergies

Medium-term growth vectors

How

• Capital Allocation

• Innovation

• Performance Culture

Medium term guidance

Mid-single digit underlying sales CAGR

Average margin growth of 40 bps per annum

90% - 100% free cash conversion, on average, across the period

11

Why invest in Pearson?

Diversified business with unique characteristics

• Pearson is well-diversified across learning and education

• Our core capability is measuring skills through assessments h verification

• We are a trusted, established leader across almost all of our businesses

  Clear strategic priorities to drive compounding sales and margin growth

• Three strategic priorities supports our medium-term outlook

• Moving from holding company to unified operating company creates significant opportunity

• Relevant products, services, IP, and capabilities provide expansion opportunities in fast growth Early Careers and Enterprise Skilling segments

  Innovative technologies, like AI, are benefiting us

• AI is driving demand for what we do -skilling and skills validation

• We are enhancing our products and services with technology, including AI

• AI is already driving efficiencies and cost savings across our business

  Disciplined capital allocation policy driving long term shareholder value

• Clear approach to capital allocation

• Strong balance sheet and robust cash

  generation provides optionality

• Our breadth and scale provide significant investment capacity and strategic partnership opportunities

12

13

Our Strategic Priorities

We drive long-term shareholder growth through three strategic priorities:

Driving performance in the Core Business

• Moving from a holding company to a unified operating company creates opportunity for improved top line performance and margin expansion

• Increased commercial intensity and embedding a strong performance culture across the company to drive market share gains

Execution Synergies

• Unlock value across our business units, through:

  • Company-wide operational systems

  • Implementing a modern software development approach, accelerating innovation

  • Establish long-term strategic partnerships

Medium Term Growth Vectors

• We continue to see significant growth opportunities in our two medium-term growth vectors: Early Careers and Enterprise Skilling

• We will further strengthen Pearson's leadership in career and technical education (CTE)

• We will support enterprises as they develop the capabilities needed for talent planning, sourcing and development in the AI era

14

Performance in the core business

Assessment & Qualifications

English Language Learning

Higher Education

Enterprise Learning & Skills

Virtual Learning

2025 milestones

Renewals and contract wins

Digital growth

International expansion

Customer wins Product innovation

/ expansion

Enterprise growth + Communication Coach launch

Inclusive access

Study prep monetisation

Early careers progression

Global go to market

Strategic partners signed

Contract wins

Enrolment portal launched

Targeted marketing investment

Enhanced Early Careers offering

2026 priorities

Enterprise growth

International expansion

Product innovation

Enterprise upskilling growth

Adjacent market expansion

Product upgrades

Inclusive access growth

Platform convergence

AI product innovation

Partnership monetisation

Strategic account growth

Joint innovation with partners

School network expansion

AI product enhancements

Further operational improvements

See more detail in the appendix 15

Execution synergies

We are driving synergies across our business units, supported by AI enabled cost optimization opportunities and ongoing process improvements, while enabling faster product innovation.

360 degree Strategic Partnerships

Operational Systems

Modern Software & Product Development

• Deepened relationship with smaller number of key partners to create customer impact, drive efficiencies, and grow our businesses

• AI driven improvements h efficiencies

• Newly established RevOps function to improve sales discipline

• New, more unified Pearson branding

• Pearson wide set of tools to accelerating the rate of innovation

• Maximise value from sector leading product h technology cash spend (c.£1bn in FY25)

Generated c.200 basis points of margin in 2025 through cost savings, enabling investment and margin progression within our P&L envelope

16

Medium-term growth vector - Enterprise Skilling

Enterprises moving towards partners that can co-develop learning experiences and connect skills, data and talent intelligence into a unified ecosystem

• Pearson has unlocked 9 important partnerships with key enterprises impacting the future of technology

• These partners have committed to being Pearson customers, and Pearson is a customer of their engineering skills and services

• We are engaging in joint innovation and go to market activity that unlocks new opportunities

Strategic Partnerships

Joint GTM & Innovation

Hundreds of $ millions in incremental revenue contracted up to 2030

17

Why we are excited about Early Careers

• Large, fast-growing market for job-ready skills

• Demand accelerated by AI disruption to entry-level roles

• Strengthened position through eDL acquisition

• Clear cross-sell opportunity across K-12 and post-secondary

Medium-term growth vector - Early Careers

Why Pearson is well positioned to win

• Scaled, standards-aligned academic and career content

• Deep institutional and employer relationships

• Proven go-to-market capability across education segments

• Trusted global learning and assessment brand

Early Careers TAM

~$6B+

Total estimated addressable market across elective and CTE curriculum ("Learn"), college and career readiness platforms ("Explore"), and certifications and licensing exams ("Verify"). 18

Power metrics

Enterprise Skilling

'Advanced' & 'Elite' customers

49

2024: 45

2023: 47

Power metrics serve as leading indicators and help track progress against our strategic priorities. Under Assessment h Verification, we track metrics on renewal and the level of new business growth. For Enterprise, we track the number of enterprise customers in our most commercially and strategically material tiers.

Assessment & Verification

Renewals

2024: 99%

2023: 87%

Growth

2024: £36m

2023: £7m

19

Financial Overview

20

2025 Financial highlights

• 4% underlying sales growth

• 6% increase in underlying profit with margin expanding from 16.9% to 17.2%

• Adjusted EPS up 4% to 64.5p and up 9% at constant exchange rates2

• Strong cash performance, with free cashflow conversion of 125% including £0.1bn State Aid repayment (98% without)

• Increasing the dividend by 5%

Underlying1 Adj. Operating Profit Growth

Underlying1 Sales Growth

+4%

Year-on-year increase to £3,577m

(2024: £3,552m)

+6%

Year-on-year increase to £614m

(2024: £600m)

Adj. Operating Profit Margin

17.2%

(2024: 16.9%)

Free Cash Flow Conversion

125%

Year-on-year cash flow increase to £527m

(2024: £490m)

Adjusted EPS Growth

+4%

Year-on-year increase to 64.5p

(2024: 62.1p)

Dividend Per Share Growth

+5%

Year-on-year increase to 25.2p

(2(020242:42:4.0p)

24.0p)

1 Underlying growth rate: exclude currency movements, and portfolio changes.

2Calculated using adjusted operating profit at constant exchange rates. Constant exchange rates are calculated by assuming the average FX in the prior year prevailed through the current year. 21

Financial progress provides foundation for ongoing confidence

Group Sales excluding OPM and Strategic Review businesses* (£bn)

9.2%

11.2%

11.9%

15.6% 16.9% 17.2%

Group Adjusted Operating Profit (£m)

Group Adjusted Operating Margin (%)

2020 2021 2022 2023 2024 2025

Free Cash Flow (£m)

6.6%

7.9%

8.7%

10.3% 10.5%

11.3%

Return on Capital (%)

2020 2021 2022 2023 2024 2025 2020 2021 2022 2023 2024 2025

*Group sales are headline figures excluding OPM and Strategic Review businesses. CAGR is on an underlying basis excluding OPM and Strategic Review businesses. The average US dollar rate for the year against sterling was: 2020 $1.28, 22

2021 $1.38, 2022 $1.24, 2023 $1.25, 2024 $1.28, 2025 $1.32

Sales

£m

2025

2024

Underlying growth*

Segment Sales & Adjusted Operating Profit

*Underlying growth rates exclude currency movements, and portfolio changes. Constant exchange rates are calculated by assuming the average FX in the prior year prevailed through the current year.

23

Driving long-term value through sustainable profitable growth

Ample runway for margin improvement through our strong operating leverage on sales growth combined with being cost conscious and implementing technology-enabled cost efficiencies, partially offset by investments to drive growth.

17.2%

Adjusted operatingprofit margin

+40 bps on average per annum

Strong operational leverage across the business on MSD sales growth

Cost conscious, tech-enabled savings

h efficiencies

Incremental investment to support future sales growth

2025 Profit Medium-term

24

£64£06-4608m5-m£6a8t 5£m:$a1t.3F5X,riantcelsudasinagt tch.e£1e5nmd oimf 2p0a2ir5m(£e:n$t1b.3e5n)efit

IInntteerreesstt

c.£80m - includesc.c£o8s0tmof funding recently

announced £350m share buyback

2026 Group financial expectations

Group sales

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MMiidd--ssiinngglleeddiiggitit

Group profit

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Cash flow

Free cash flow cForneveercsaiosnh1 folof 9w0c%o-n1v0e0r%sion* of 90-100%

FFXX

Every 1c movemEveentryin1c£:m$ roavteemeqeunattiens£t:o$arpapteroexqimuaatteelsy to approximately

£5m£a2d0ju-s£t2e5dmopsearlaetsinagnpdr£of5itmimapdajucstted operating profit impact

cc..2255%%

TTaaxx

1 Free cash flow conversion calculated as free cash flow divided by adjusted earnings.

25

Group

Assessment & Qualifications

Mid-single digit growth

Low to mid-single digit growth, driven by new contracts, products and pricing

2026 Group financial expectations

Full year

Underlying sales growth

Enterprise Learning & Skills

Virtual Learning

Higher Education

English Language Learning

Stronger growth than 2025 driven by a full year of enrolment growth

Will grow more than 2025, supported by product and platform innovation, pricing and Inclusive Access in our core US courseware business, with improvement in the K12 channel

Higher growth than 2025 driven by market share gains and pricing, with PTE returning to growth

Growth driven by a solid Vocational Qualifications performance and strategic account growth in Enterprise Solutions

26

Focus on disciplined capital allocation

Strong balance sheet - Net debt / EBITDA capped 2x

Capex + Product Development spend (£m)

Capex and product development for organic growth, running at c.14% of sales

1. Invest in the business to accelerate

growth opportunities

2. Dividends

Focused and disciplined approach to MhA

Acquisition consideration (£m)

51

69

12

245 188

185

Progressive and sustainable

Dividend per share growth 5% CAGR 2020-2025

2020

2021

2022

2023

2024

2025

Dividend per share (p)

19.5

20.5

21.5

22.7

24.0

25.2

3. Surplus cash returns

Buybacks or special dividends as appropriate

£1.7bn of surplus cash returned since 2020

2020

2021

2022

2023

2024

2025

176

Share buyback (£m)

353

186

0

318

352

2020

2021

2022

2023

2024

2025

27

M&A Principles

Strategic Rationale

Deals must be part of pre-agreed strategy, aligned with our corporate priorities.

Returns

Deals need to demonstrate strong financial returns, with confidence in value creation.

Synergies

Deals need to have very clear synergies with our core business.

Strategic Focus Areas

MhA to focus on well-run, profitable and growing business units.

Deal Sourcing

Expect our business teams to develop proactive pipelines, with strong preference to bilateral transactions.

28

Strong financial position

6 years of positive cash flow characteristics, comfortable leverage and improved return on capital.

Business Units

30

Assessment & Qualifications (A&Q)

Business Unit Overview

Key Financials

AhQ 59%

FY25 Profit* Mix

• Comprises of four sub-business units with significant scale and

  Sales (m) / Underlying Growth

  strong competitive positions, with over 90m interactions per year, and spanning all stages of learning and professional development

• Our services must meet a very high bar for accreditation authorities and regulators, acting as verification infrastructure for companies, industry associations, states and government agencies

• Majority of business unit underpinned by long-term contracts, with business delivering high renewal rates

  £1,600

  £1,400

  £1,200

  £1,000

  £800

  +17%

  +8%

  +7% +3%

  +4%

• Pearson's largest and most profitable business unit with strong margins, cash flows, and Group synergies - together with good financial visibility

  c.21m Professional

  2021 2022 2023 2024 2025

  Adjusted operating profit (m) / margin

  Assessment test volume

  IT

  Healthcare Insurance

  Over 2,000 International Schools working with Pearson

  US Student Assessment presence in around half of US states

  £400

  £300

  18% 18%

  22% 23% 23%

  550+

  Clients

  Professional Finance Teacher Government Other

  Real Estate

  Over 90% retention rate

  for Clinical Assessment digital subscription model

  £200

  £100

  £0

  *Adjusted Operating Profit

  2021 2022 2023 2024 2025 31

  
  
  

  Assessment & Qualifications (A&Q) (continued)

  AhQ 59%

  FY25 Profit* Mix

  Sub-Business Unit

  Description

  Sales & Mix (2025)

  Underlying

  Sales Growth 2026 Growth Drivers (2025)

  Core Business Model

  Pearson Professional Assessments	A leader in the global market in large-scale testing services, supporting workforce certification and reskilling across professional and government sectors; acting as verification infrastructure for companies, industry associations, states and government agencies	£0.66bn (41%)	+1%	New contracts, renewals, and pricing; High stakes test prep; International expansion	Services
  US Student Assessment	Strategic assessment partner to states and districts, delivering comprehensive assessment systems spanning formative, interim and summative programmes	£0.38bn (24%)	+2%	Key customer renewals h expansions; Expanding into formative testing	Services
  Clinical Assessment	Provides high-quality, research-backed assessment products for mental health and learning evaluations, serving the healthcare and education sectors	£0.26bn (16%)	+8%	New products, and pricing; Digital growth (Digital Assessment Library for Schools subscription model)	Software h Print
  UK & International Qualifications	Offers globally recognised UK-curriculum-based qualifications, such as GCSEs and A levels, as well as courseware for English-speaking regions throughout the world, supporting foundational student progression worldwide	£0.30bn (19%)	+9%	New contracts; International expansion	Services h Print

  32

  *Adjusted Operating Profit

  Assessment & Qualifications (A&Q) (continued)

  AhQ 59%

  FY25 Profit* Mix

  Key Strengths

  Sales by Business Model

• A leading player across all sub-business units, with global scale

• Long standing relationships built on high levels of customer service and trust

• Excellence in complex operational delivery across physical h digital infrastructure drives very strong retention rates

• Global recognition of owned assessment and qualifications IP

Key capabilities

Large scale, end to end assessment development, delivery, and scoring

Monetisation

Learner / Test taker

*Adjusted Operating Profit

Institution / Government

Professional Organization

Enterprise

Healthcare, private practice,

clinicians, and pharmaceutical companies 33

Virtual Learning (VL)

Business Unit Overview

Key Financials

VL 13%

FY25 Profit* Mix

• Provides high-quality, highly accountable online learning solutions for K-12 students

• Pearson operates an end to-end virtual school including

  Sales (m) / Underlying Growth+

  £600

  +4% -2% -1% +8%

  technology, content, marketing and enrolment and a range of services

• Enrolments were up 13% for the Fall 2025 academic semester

• We operate 41 schools across 31 states for the 2025/26 academic year and renewed all six of our long term school contracts

  £500

  £400

  £300

  £200

  +17%

  2021 2022 2023 2024 2025

  Adjusted operating profit (m) / margin

  Established Virtual School provider with National presence

  109k

  Virtual US enrolments+

  AI Study Tools supported up to 11% increase in pass rates

  £90

  £65

  £40

  £15

  13% 16%

  12%

  9%

  4%

  +Enrolments as of September 30, 2025

  2021 2022 2023 2024 2025

  * Adjusted Operating Profit 34

  +Sales and underlying growth are only for Virtual

  Schools (excludes OPM, which we have since exited)

  
  
  

  Virtual Learning (VL) (continued)

  Main Offerings

  Description

  Sales Mix (2025)

  Underlying Sales Growth (2025)

  2026 Growth Drivers

  Core

  Business Model

  VL 13%

  FY25 Profit* Mix

  Partner Schools	Provides state-wide, turnkey virtual school solutions for public K12 students in the US, integrating courseware, platform technology, instructional services and a range of support services to deliver flexible, high-quality online learning	c.96%	Continuing to capture growing demand for US virtual schooling;
  District Partnerships	Offers customisable virtual education solutions for K-12 districts, focusing on smaller student cohorts with a more disaggregated approach than Partner Schools, ensuring access to quality, adaptable remote learning for various needs	c.3%	+8%	Further strengthening of our marketing and enrollment capabilities; Targeted school expansion	Services

  35

  *Adjusted Operating Profit

  Virtual Learning (VL) (continued)

  VL 13%

  FY25 Profit* Mix

  Key Strengths

  Sales by Business Model

  • Attractive market characteristics and growth dynamics, driven by the school choice

    movement in the U.S.

  • One of two scaled providers in a complex, regulated market

  • Trusted brand name

  • Bespoke bundled product/service offering to operate a school

  • Strong focus on student outcomes, generally outperforming other virtual school operators

    Services
    
    

    Key capabilities

    
    
    

    Marketing

    Student Enrollment

    Platform

    State Aligned Content

    Student/Teacher AI Tools

    School Operations

    Career Programme

    Teacher Hiring

    SPED Academics

    School

    Financial Services

    Support

    Large scale end-to-end K-12 learning delivery

    Monetisation

    
    
    

    Parent decision - State-funded per student enrolled 36

    *Adjusted Operating Profit

    Higher Education (HE)

    Business Unit Overview

  • A market leader in providing world-class learning experiences in the

    Key Financials

    HE 15%

    FY25 Profit* Mix

    post-secondary segment, serving millions of students worldwide. Our

    Sales (m) / Underlying Growth

    products are designed to manage a course end to end, tightly integrated within Higher Education ecosystem.

  • Partner with thousands of expert authors to create learning materials across many academic disciplines, with particular strength in science, technology, engineering and maths (STEM)

  • Continued focus on providing AI-powered learning experiences that delivered measurable improvements in learning outcomes

    £900

    £800

    £700

    £600

    £500

    -5%

    -4%

    -3% +1% +2%

  • We made significant progress expanding into the fast growing Early Careers space, establishing a dedicated direct sales force to deepen

    2021 2022 2023 2024 2025

    Adjusted operating profit (m) / margin

    and expand our relationships with US school administrators and completed the acquisition of eDynamic Learning - North America's largest provider of digital Career and Technical Education

    £100

    £90

    £80

    £70

    12% 12% 12%

    9%

    6%

    c.10m

    Higher Education US digital subscriptions

    c.19% Inclusive Access growth in FY25

    Usage of our AI study tools increases the likelihood of a student becoming

    £60

    £50

    £40

    2021 2022 2023 2024 2025

    an active reader by

    24x

    Note: The enterprise focused business within Higher Education (IT Pro) has been transferred into Enterprise Learning and Skills from January 2025. Comparative sales, adjusted operating profit,

    and margin amounts have been restated for 2020, 2021, 2022, 2023, and 2024 to reflect the 37

    move between operating segments.

    *Adjusted Operating Profit

    
    
    

    Higher Education (HE) (continued)

    HE 15%

    FY25 Profit* Mix

    Sub-Business Unit

    Description

    Sales & Mix (2025)

    Underlying Sales Growth (2025)

    2026 Growth Drivers

    Core Business Model

    US Higher Education	A market leader in providing world-class learning experiences in the post-secondary and Early Careers segments, with additional reach into K12 education through Honours, AP®, Dual Enrolment, and Career and Technical Education (CTE)	£0.67bn (86%)	+3%	Product and platform innovation, pricing and Inclusive Access in our core US courseware business; Improvement in the K12 channel and building on our Early Careers offerings	Software h Print
    International Higher Education	Provides world-class learning experiences in international post-secondary education markets	£0.11bn (14%)	-7%	Emerging markets, digital expansion, and content localisation	Software h Print

    38

    *Adjusted Operating Profit

    Higher Education (HE) (continued)

    HE 15%

    FY25 Profit* Mix

    Key Strengths

    Sales by Business Model

  • Deeply integrated in the critical workflows h platforms that educators use

  • Data from billions of student engagements and submissions, and hundreds of thousands of instances of instructor feedback occurring on our platforms

  • IP expertise in how people learn and how to deliver evidence of learning outcomes with formal education institutions

  • Large, on the ground sales teams serving US Higher Ed, International Higher Ed, and US K-12

    Software Print
    
    

    Key capabilities

    
    
    
    
    

    Author Management

    Codified Knowledge

    Pedagogical Expertise

    Assessment Capabilities

    Course Creation

    Embedded Delivery Platform

    Student / Professor Value Add Tools

    Wrap Around Support

    Monetisation

    
    
    

    *Adjusted Operating Profit

    Professor/Faculty Decision Student purchased

    Public School Districts h

    Private Schools 39

    English Language Learning (ELL)

    Business Unit Overview

    Key Financials

    ELL 8%

    FY25 Profit* Mix

  • We offer comprehensive English learning and assessment solutions, including the Pearson Test of English (PTE), by blending pedagogical expertise in English language education with

    Sales (m) / Underlying Growth

    £500 +30% +8% +1%

    advanced technology

  • We aim to become the world's leading destination for language learners to build and prove their proficiency in English

  • Central to the success of all our products is our proprietary Global Scale of English - a scale that allows learners to track the progress of their language learning journey

    £400

    £300

    £200

    £100

    £0

    +17%

    +24%

  • In 2025, in collaboration with Enterprise Learning h Skills unit and co-developed with Microsoft, we launched Communication Coach, which is designed to improve the communication ability

2022 2021 2023 2024 2025

Adjusted operating profit (m) / margin

of both native English and non-native English speakers

£60

£50

11%

12% 12%

c.1B+

English Language Learners Globally

Smart Lesson Generator saved up to 45 minutes per lesson plan for educators

c.1.1m

PTE volume in 2025

£40

£30

£20

£10

£0

*Adjusted Operating Profit

8%

6%

2021 2022 2023 2024 2025 40