Page 59 - ALEF EDUCATION PR REPORT FEBRUARY 2025

2/25/25, 5:00 PM Alef Education Sustains Strong Growth in 2024, Achieves Revenues of AED 759M with EBITDA Surging 5% - Middle East Business…
Arab world and is currently in advanced discussions with several others. The project has
reached 77% overall completion, achieving a 100% completion rate for the item bank

development. Field testing was done in nine countries: the United Arab Emirates, Jordan, Iraq,
Morocco, Egypt, Oman, the Kingdom of Saudi Arabia, Lebanon, and Libya. The initiative has

successfully onboarded 103,000 students and 40 million texts have been extracted, covering
approximately 84% of the initiative’s text-sourcing goal. The field testing of Miqyas Al Dhad will

conclude by the end of February 2025, while the target launch date is the third quarter of
2025.

Committed to maximising shareholder value, driving scale and boosting earnings growth
through a targeted and focused growth strategy:

Alef Education has placed a strong emphasis on securing contract extensions with key clients.

The recent three-year contract extension with ADEK provides significant revenue visibility until
2033, provisioning for a minimum of 80,000 students with a fixed fee per student. In addition

to these efforts, Alef Education is actively exploring opportunities to expand its offerings
beyond the current grades served. The goal is to increase its student base by providing its core

platform to a broader range of educational levels.

The B2G and Partnerships segment made significant progress, securing two government

contracts in the last quarter of 2024: one with Al Ain Football Club for AED 3.8 million and
another with Abu Dhabi Civil Defence Authority for AED 5.1 million over the life of their

contracts. The Company also expanded into Morocco, supporting the Education Reform Plan
2022-2026, where it signed a contract to deliver an innovative Arabic language program to

50,000 students and 2,500 teachers across 300 schools. In addition, an MOU was signed with
Egyptian publishing house Nahdet Misr—one of the largest in the region—to collaborate across

several key regions in the GCC, Levant and North Africa.

2024 marked a key milestone for Alef Education. Its successful entry into the education market

in the Kingdom of Saudi Arabia aligned with the Group’s strategy of targeting markets that
share linguistic, cultural, and pedagogical similarities to its core UAE market. The Company’s

business development teams are also actively pursuing opportunities in Egypt and Saudi
Arabia, positioning Alef Education for further rapid expansion in these key markets.

Alef Education is executing a dynamic, multi-pronged growth strategy to serve the expanding

B2G and B2B markets in the UAE while positioning itself as a global leader in EdTech. The
Company is driving organic growth by expanding its product portfolio, securing high-impact

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