Page 49 - ALEF EDUCATION PR REPORT NOVEMBER 2024

11/27/24, 8:21 AM Latest News

Alef Education Achieves MSCI UAE Small Cap

Index Inclusion Signalling Strong Financial

Performance and Future Growth

26/11/2024

Abu Dhabi, 25 November 2024: Alef Education, a UAE-based global leader in education technology, has

been added to the MSCI UAE Small Cap Index, a significant milestone achieved just five months after its
IPO. The inclusion underscores the solid financial and operational performance of Alef Education and its

promising growth prospects.

MSCI confirmed the inclusion in its latest list of additions and deletions, with the change to take effect after
the close of equity markets on 25 November 2024. The inclusion holds further significance as it comes more
than a week after Alef Education announced robust financial results for the period ending 30 September

2024. The company reported an 8% increase in adjusted profit before tax to AED 379 million, driven by a
solid revenue base from long-term contracts and a focus on significant cost efficiencies across its operations.

Geoffrey Alphonso, CEO of Alef Education, said, “We are delighted to be included in the MSCI UAE Small

Cap Index as it reflects the global market’s confidence in our strong fundamentals and strategic vision. This
achievement emphasises our commitment to providing innovative education solutions and our dedication to

sustainable growth and value creation for our shareholders. This milestone will allow Alef Education to
diversify its investor base and make its solid financial foundation and high shareholder returns visible on the
global financial market. At Alef Education, we reaffirm our commitment to driving effective change and

shaping the future of education through progressive, technology-driven approaches.

Morgan Stanley Capital International (MSCI) is an investment research firm that provides stock indexes,
portfolio risk and performance analytics, and governance tools to institutional investors and hedge funds. The
MSCI UAE Small Cap Index is designed to measure the performance of the small-cap segment of the equity

market. MSCI indices are widely used by investment managers and institutional investors for index funds and
as benchmarks for active investment strategies.

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