Pearson : announces the disposal of Pearson Institute of Higher Education

LONDON, November 9 2020: Pearson today announces the disposal of its interests in Pearson Institute of Higher Education (PIHE) in South Africa to a consortium of Stellenbosch Graduate Institute (SGI) and EXEO Capital.

Stellenbosch Graduate Institute (SGI) is an established provider of innovative education programmes from a digital platform. EXEO Capital is a pan-African alternative investment firm.

This is in line with the strategic direction Pearson has taken in recent years to shift away from physical, large-scale direct delivery services and focus on strategic opportunities.

The disposal is expected to close in the first half of 2021 subject to the necessary regulatory approvals being obtained.

ENDS.

Investor Relations

Jo Russell [phone]

Anjali Kotak [phone]

Teddy Symington [phone]

Media

Tom Steiner [phone]

Gemma Terry [phone]

Notes to editors Transaction Details

In 2010, Pearson, through its legal entity Longman Group (Overseas Holdings) Limited, acquired a stake in CTI Education Group. By 2019, both the Midrand Graduate Institute and the CTI campuses were rebranded to Pearson Institute of Higher Education

(PIHE). In November 2020, Longman Group (Overseas Holdings) Limited signed an agreement to sell its interests in PIHE through the sale of its holding company CTI Education Group Proprietary Limited.

About Pearson

We are the world's learning company with more than 22,500 employees operating in 70 countries. We provide content, assessment and digital services to learners, educational institutions, employers, governments and other partners globally. We are committed to helping equip learners with the skills they need to enhance their employability prospects and to succeed in the changing world of work. We believe that wherever learning flourishes so do people. Visit @Pearson or www.pearson.com for more information.

About PIHE

Pearson Institute of Higher Education (PIHE) consisting of 12 campuses across South Africa. PIHE has an excellent record of producing employable graduates who are prepared for all aspects of the modern workplace. Students benefit from a diversity of academic ideas and a range of career-focused qualifications and programmes. Visit www.pearsoninstitute.africa for more information.

About EXEO Capital

EXEO Capital is a pan-African alternative investment firm with approximately USD 250m assets under management. The firm operates from Cape Town, Nairobi and Mauritius. The firm's investment philosophy focuses on investing in and building businesses for sound financial returns as well as positive impact. The firm is also known for its investment activities in the food & agribusiness sector through the Agri-Vie Funds under its management. EXEO, pronounced ex-AY-o, means 'go forth' in Latin. Visit www.exeocapital.com for more information.

About Stellenbosch Graduate Institute

Stellenbosch Graduate Institute is a specialist provider of online higher education and is the education operating partner of EXEO Capital. Visit www.sgi.co.za for more information.