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3P Learning ASX ANNOUNCEMENT 22 February 2021 Tel : +61 2 9019 2800 Fax : +61 2 8214 5869 ABN : 50 103 827 836 3P LEARNING ANNOUNCES FY2021 HALF YEAR RESULTS 3P Learning Limited ( ASX : 3PL ) announces its FY21 results for the half year period ended 31 December 2020 . The Company is pleased to report that the Group Statutory Revenue increased by 3 % to $ 24.0 million , Underlying EBITDA increased by 26 % to $ 4.4 million and Cash was at $ 15.0 million . Key Financial Information HIFY2021 HIFY2020 Variation % A $ M ( unless stated ) Statutory Revenue 24.0 23.2 13 % Underlying EBITDA 4.4 3.5 ↑ 26 % Underlying Net Profit after tax ( 0.8 ) ( 1.9 ) ↑ 58 % Statutory Net Profit after tax ( 1.5 ) ( 1.9 ) ↑ 21 % Underlying Earnings Per Share ( cents ) ( 0.57 ) ( 1.35 ) ↑ 58 % Cash 15.0 12.5 ↑ 20 % 3P Learning CEO Rebekah O'Flaherty said , " Our first half result in year two of our current strategy provides evidence that we are gaining momentum with royalty adjusted ARR up 3 % , licences up 5 % , underlying EBITDA up 26 % and cash up 20 % on pcp basis . Added to this our net dollar churn improved by 4 % . " Due to the impact of COVID - 19 and periodic Government - mandated school lockdowns throughout the first half of the financial period , the contractual obligations under the Ministry of Education ( " MOE " ) agreement in the Middle East were deferred . The Company and the MOE have agreed to extend the term of the agreement to reflect this and accordingly , no payment has been received to date . The services to the MOE are now expected to be delivered , and collection of the agreement proceeds to occur , in FY21 and FY22 . The Company recognises that any continued uncertainty driven by COVID - 19 could again impact the timing of delivery of services under this agreement . No dividend has been declared . 3P Learning Limited Level 18 , 124 Walker Street North Sydney NSW 2060 Australia www.3plearning.com