Page 274 - ALEF EDUCATION PR REPORT - JUNE 2024

6/19/24, 4:48 PM EFG Hermes completes advisory on $515mln IPO of Alef Education Holding on the Abu Dhabi Securities Exchange

Alef Education is an award-winning provider of AI-powered personalized learning solutions and digital education resources provider across grades K-12 for
governments, primary and secondary schools, educators, students, and their parents in the UAE and globally. Alef Education has successfully enhanced
student performance, evidenced by an average 8.5% score increase across Arabic and Math in Indonesia. Serving 1.1 million students, 50,000 teachers, and
7,000 schools as of 2023, it boasts consistent profitability, with a 62% average adjusted EBITDA margin (2021-2023), a strong balance sheet, and long-term
contracts ensuring revenue stability. Key partnerships, like the long-standing contract with Abu Dhabi's ADEK, secure predictable revenue for seven years.
Operating in the UAE, Indonesia, and the US, the company employs both organic and inorganic growth strategies to capitalize on the growing EdTech sector,
driven by an experienced management team committed to post-IPO growth and shareholder value.

This is the latest in a series of landmark deals that EFG Hermes has advised on in the GCC region over the years, including 10 ECM deals in 2024 so far
including Alef. Most recently, the investment banking division advised on the private placement of Beyout Investment Group (BIG) on Boursa Kuwait as joint
global coordinator and joint bookrunner for the listing, following acting as joint bookrunner on the fully marketed secondary public offering of Saudi Aramco on
the Saudi Exchange. The team also recently worked as a joint financial advisor, bookrunner, and Underwriter on Miahona’s IPO with oversubscription for
institutional tranche 178.3 times, in addition to acting as joint bookrunner and underwriter on the IPO of healthcare provider Fakeeh Care Group on the Saudi
Exchange, with the total book covered almost 119 times which followed the firm’s role in the Accelerated Equity Offering for ADNOC Drilling as a Joint Global
Coordinator and Joint Bookrunner for. Furthermore, the Firm has acted as a joint bookrunner on the IPO of Spinneys, an operator of premium grocery retail
supermarkets, on the Dubai Financial Market (DFM), which was covered more than 64 times, and Parkin’s IPO on the DFM – the most oversubscribed IPO on
the DFM to date.
-Ends-

About EFG Holding

EFG Holding (EGX: HRHO.CA – LSE: EFGD) is a trailblazing financial institution that boasts a remarkable 40-year legacy of success in nine countries
spanning three continents. Operating within three distinct verticals — the Investment Bank (EFG Hermes), Non-Bank Financial Institutions (NBFI) (EFG
Finance), and Commercial Bank (aiBANK) — the company provides a comprehensive range of groundbreaking financial products and services tailored to
meet the needs of a diverse clientele, including individual clients and businesses of all sizes.

EFG Hermes, the leading investment bank in the Middle East and North Africa (MENA), offers an extensive array of financial services, encompassing
advisory, asset management, securities brokerage, research, and private equity. In its domestic market, EFG Holding serves as a universal bank, with EFG
Finance emerging as the fastest-growing NBFI platform, comprising Tanmeyah, a leading provider of financial services in Egypt with a concerted focus on the
micro and small enterprise segments, EFG Corp-Solutions, which provides leasing and factoring services, Valu, a versatile financial technology powerhouse,
PayTabs Egypt, a digital payment platform, as well as Bedaya for mortgage finance and Kaf for insurance. Furthermore, the company delivers commercial
banking solutions through aiBANK, a leading provider of integrated retail, corporate, and Islamic banking products in Egypt.

Proudly present in: Egypt | United Arab Emirates | Saudi Arabia | Kuwait | Bahrain | Pakistan | UK | Kenya | Nigeria |

Learn more about us at www.efghldg.com

For further information, please contact:
May El Gammal
Group Chief Marketing & Communications Officer of EFG Holding
melgammal@efghldg.com
Omar Salama
Senior Communications Manager of EFG Holding
osalama@efghldg.com
The EFG Holding Public Relations Team
PublicRelations@efghldg.com
Note on Forward-Looking Statements

In this press release, EFG Holding may make forward-looking statements, including, for example, statements about management’s expectations, strategic
objectives, growth opportunities, and business prospects. These forward-looking statements are not historical facts but instead represent only EFG Holding’s
belief regarding future events, many of which, by their nature, are inherently uncertain and are beyond management’s control and include, among others,
financial market volatility; actions and initiatives taken by current and potential competitors; general economic conditions and the effect of
current, pending, and future legislation, regulations and regulatory actions. Accordingly, the readers are cautioned not to place undue reliance on forward-
looking statements, which speak only as of the date on which they are made.

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