STADIO HOLDINGS LIMITED (Incorporated in the Republic of South Africa) (Registration number: 2016/371398/06) Share code: SDO ISIN: ZAE000248662 LEI: 3789007C8FB26515D966 (“STADIO Holdings” or “the Company” or “STADIO Group”) AUDITED RESULTS FOR THE YEAR ENDED 31 DECEMBER 2023, CONSTRUCTION OF DURBANVILLE CAMPUS AND DIVIDEND DECLARATION SALIENT FEATURES • Revenue increased from R1 214 million in 2022 to R1 414 million (16%) • Semester 1 student numbers increased from 39 167 in June 2022 to 42 874 in June 2023 (9%) • Semester 2 student numbers increased from 42 463 in December 2022 to 46 508 in December 2023 (10%) • Core headline earnings increased from R176 million in 2022 to R209 million (19%) • Basic core headline earnings per share (“CHEPS”) increased from 20.7 cents per share (“cps”) in 2022 to 24.6 cps (19%) • Earnings before interest, taxation, depreciation and amortisation (“EBITDA”) increased from R351 million in 2022 to R391 million (11%) • Profit after tax increased from R186 million in 2022 to R236 million (27%) • Earnings per share (“EPS”) increased from 19.5 cps in 2022 to 24.5 cps (26%) • Basic headline earnings per share (“HEPS”) increased from 20.0 cps in 2022 to 24.5 cps (23%) • Net asset value per share increased from 209 cps in 2022 to 212 cps (1%) • Gross final dividend per share increased from 8.9 cps in 2022 to 10.0 cps (12%) COMMENTARY The board of directors of STADIO Holdings (“Board”) is pleased to announce a solid set of results, despite a challenging economic environment, with good growth in student numbers for the year, specifically in new student numbers. The growth in EPS, HEPS and CHEPS is due to an increase in student numbers, coupled with good cost controls and efficiencies as a result of the implementation of the STADIO Group’s strategy in this regard. In the prior year ended 31 December 2022, EPS was negatively impacted by: • the impairment of R6.5 million of assets, which included a further impairment of the right of use asset of R2.8 million in respect of the leased Milpark Education campus in Gauteng; and • an impairment of R3.7 million relating to curriculum material intangibles for programmes that the STADIO Group elected to discontinue. DURBANVILLE COMPREHENSIVE CAMPUS The Board is excited to announce that it has approved the construction of the STADIO Durbanville campus (“campus”). The campus will be constructed in phases, with the first phase commencing in 2024, subject to final municipal approval. The construction will be funded 50% through cash and 50% through long-term debt. DIVIDEND DECLARATION The Board is pleased to declare a gross final dividend of 10.0 cents (2022: 8.9 cents) per ordinary share from income reserves for the year ended 31 December 2023. This constitutes 41% of CHEPS and represents excess cash available, after considering capital available for growth opportunities. The Board has adopted a policy of declaring and paying dividends on an annual basis based on excess free-cash flow available, after considering the capital needs for future growth projects. The dividend amount, net of South African dividends tax of 20%, is 8.00 cents (2022: 7.12 cents) per ordinary share. The number of ordinary shares in issue at the declaration date is 847 427 943, and the income tax number of the Company is 965/093/41/60. The total gross final dividend amount payable is R85 million. The salient dates for this dividend distribution are: Last day to trade cum dividend Tuesday, 16 April 2024 Trading ex-dividend commences Wednesday, 17 April 2024 Record date Friday, 19 April 2024 Payment date Monday, 22 April 2024 Share certificates may not be dematerialised or re-materialised between Wednesday, 17 April 2024 and Friday, 19 April 2024, both days inclusive. SHORT-FORM ANNOUNCEMENT This short-form announcement is the responsibility of the directors of the Company. It contains only a summary of the information found in the detailed annual results announcement for the year ended 31 December 2023 (“Full Announcement”) and does not contain full or complete details. The Full Announcement can be found at: https://senspdf.jse.co.za/documents/2024/JSE/ISSE/SDOE/Final_23.pdf A copy of the Full Announcement is also available for viewing on the Company’s website at 2023 - STADIO Holdings. Any investment decisions by investors and/or shareholders should be based on consideration of the Full Announcement, as a whole. The annual results for the year ended 31 December 2023 have been audited by the Company’s auditors, PricewaterhouseCoopers Inc. who expressed an unmodified audit opinion thereon. The audit opinion is available, along with the annual financial statements, on the Company’s website at 2023 - STADIO Holdings. PRESENTATION STADIO Holdings will be hosting a virtual presentation on Monday, 18 March 2024, at 10:30 am SAST to present the results to investors. Presentation details: Please register to attend the presentation ahead of time by clicking on the following link: https://attendee.gotowebinar.com/register/7290024213481452886 Participants will be able to download the results as well as the slides from the portal during the presentation. Participants can send through questions using the portal, during and after the presentation, or may also email questions to investorrelations@stadio.co.za. Durbanville 18 March 2024 Sponsor PSG Capital