ICollege : Presentation

For personal use only

(ASX:ICT)

Company Presentation

For personal use only

Company Portfolio

Extensive in demand course range to

offer prospective students

Combined group offers increased range of courses and delivery locations.

Sustained growth in the health, community services and hospitality sectors due to ongoing skill shortages.

Extended Student Lifecycle

Significant new up-selling and cross selling opportunities across the combined group.

Student

Recruitment

English Language

Vocational & Short Courses

Higher

Education

	Legend - Market Sector
	Go Study Australia has offices
	in France, Italy, Spain, Chile,
Student	Colombia, Mexico & Australia.	Domestic	Online
International
Recruitment

English

ELICOSLanguage

Building &	Healthcare &	Business &
Community	Coding
Construction	Management
Services

		Hospitality/	Business &
Design	Marketing	Foundation
Skills/Business	Management

Technology	Coding
Design

1

only

iCollege Funding Sources

Holding accreditations for multiple sources of government supported tuition funding enables iCollege to significantly expand its market appeal and reach.

iCollege is the only ASX listed organisation to hold accreditations for subsidized training contracts across 5 Australian states and territories plus Commonwealth Supported Places, FEE-HELP and Vet Student Loans.

personal use

INTERNATIONAL EDUCATION MARKET

• FEE FOR SERVICE $31.7bn1

INFECTION CONTROL

FUND - $80M3

VET STUDENT

LOANS - $275M2

JOB TRAINER - $1bn4

SUBSIDISED STATE GOVERNMENT CONTRACTS - $6.2bn2

FEE-HELP

COMMONWEALTH

SUPPORTED PLACES

For

1. https://www.ieaa.org.au/about-us/sector-stats
2. https://www.ncver.edu.au/news-and-events/media-releases/government-funding-of-vet-2019-data-now-available
3. https://ministers.dese.gov.au/cash/infection-control-training-fast-tracked-re-opening-businesses
4. https://www.dese.gov.au/skills-reform/jobtrainer-fund

2

For personal use only

Strategic Rationale for the RedHill Acquisition

Completing of the acquisition of RedHill Education Limited in October 2021 has created a new foundation for iCollege to build upon:

Combining iCollege and RedHill brings together two Australian industry leaders creating a champion education portfolio delivering:

a diversified earnings base

an expansive geographic footprint

strengthened balance sheet

greater liquidity and increased market capitalisation

Immediate and longer term cost and revenue synergy opportunities, not otherwise available to the standalone entities.

The company benefits from the combined management talent of both organisations which has been carefully selected to ensure business stability and continuity. Leveraging the existing strengths and experience of each company's existing boards and management helps de-risk the execution of the various cost and revenue synergy opportunities.

Expanded student agent network provides an opportunity to increase international reach and student enrolment pipelines, ensuring a boost in student numbers upon reopening of Australia's borders.

Leveraging existing relationships to maintain strong ongoing engagement with industry, government and regulatory bodies.

3

For personal use only

Proforma Financials

iCollege ideally placed to recover revenues and earnings to pre-pandemic levels when international borders re-open and international students resume arriving into Australia.

	iCollege	RedHill	Combined
Revenue FY20	$10.8m	$64.6m	$75.4m
Operating EBITDA FY20	($1.1m)	$10.8m	$9.7m
(post AASB16)

Revenue FY21	$16.3m	$43.5m	$59.8m
Operating EBITDA FY21	$2.9m	$8.3m	$11.2m
(post AASB16)

*EBITDA represents operating results excluding one time costs

FY21 REVENUE BY SECTOR*	FY21 REVENUE BY STATE*
Student		Online
Recruitment
7%		2%
Hospitality
11%		QLD
		VIC	17%
Technology		WA
Business	29%
& Design		8%
26%	26%		SA
			5%
ELICOS		NSW	ACT
	1%
17%		38%
	Aged Care
Other	7%
6%

FY21 REVENUE BY STUDENT MARKET*

Domestic

34.2%

International

65.8%

*combined iCollege and RedHill FY21 revenues

4