Site agreement with Saudi Water Academy

• Exclusive access to SWA training facility in Jubail, Saudi Arabia
• Potential to train up to 1,100 students on a dual-shift rotation
• Significant revenue opportunity with new revenue model

Site Group International Limited (ASX: SIT), a leading provider of education and training services, has announced the signing of a training cooperation agreement with the Saudi Water Academy (SWA). This agreement serves as an umbrella arrangement facilitating long-term cooperation between the two entities. Under this agreement, Site gains access to the SWA training facility in Jubail, which includes 32 halls for lectures, meetings, and seminars, 20 laboratories and training workshops, 7 simulators, and fully equipped housing for 240 trainees. Site has provisioned access to enough classrooms and workshops to train 550 students on a single shift, with the capability to run on a double shift, doubling training capacity. This significant milestone enables Site to serve the human resource needs of the booming construction sector in the eastern region and offers the capability to service female trainees, as the facility is coeducational. The continued Saudisation efforts further demand for high-quality training services, and as Saudisation extends to more trades in construction, mining, and oil and gas, the demand for vocational training services is expected to rise. Site Group is eligible for funding from the Human Resource Development Fund (HRDF), which sponsors 75% of training fees, with the remaining 25% covered by employers. This funding model will now form a substantial part of Site's business model, including in the mining sector. Under the new revenue model, Site will control the full revenue which for construction training ranges between US$980 - $1,120 per student per month, compared to the previous US$375 per student per month as a subcontractor. This new structure significantly increases revenue potential, representing approximately $6.7m USD for each training centre with a capacity of 500 students.

Under the new revenue model, annual revenue potential grows to in excess of US$7m for each new training centre based on a single shift rotation.

With these operational constraints addressed, Site is well-positioned to expand its training services and support the growing demand in the region. Site remains optimistic about building the Company's previously announced growth trajectory and supporting development across the Kingdom.