• Stronger-than-expected Trimester 3 enrolments at Ikon Institute
• Favourable timing of cost increases
• Entering buy-back agreements with two long-term shareholders

EDU Holdings Limited, one of Australia's leading private tertiary education groups, is pleased to provide an update on its FY25 guidance and a selective buy-back initiative. Driven by stronger-than-expected Trimester 3 enrolments at Ikon Institute, EDU's higher education business, together with favourable timing of cost increases, the Board now expects EDU to exceed the financial guidance provided with its 1H25 results. The company's full-year guidance for FY25 shows significant increases compared to FY24 actuals, with revenue expected to grow by 92%, EBITDA by 215%, and net profit after tax by 452%. EDU has also entered into buy-back agreements with two long-term shareholders, Mulpha Education Investments Pty Ltd and Investec Australia Pty Ltd, to buy back and cancel a total of 18.0 million shares, representing 12.5% of the company's ordinary shares. The buy-back price of $0.55 per share represents a discount to the recent trading prices, and the Board considers the buy-backs to be in the best interests of all shareholders, as they will be immediately EPS accretive and will not impede current and planned growth and capital management initiatives. Mulpha has been a substantial shareholder since July 2022 and is currently EDU's largest shareholder, while Investec has been a substantial shareholder for close to 10 years and is now exiting its remaining Australian investments.

Revenue: $80.4m - $82.4m EBITDA: $24.1m - $25.6m Net Profit after Tax: $13.6m - $15.1m (FY25 guidance)