Ser Educacional (SEER3) investor relations material

Company profile and market position

• One of Brazil's largest higher education groups, with a student base of 334,000 in 2025 and a national omnichannel presence through 61 campuses and 689 digital learning centers.

• Strong regional brands lead in key markets such as Pará, Amazonas, Pernambuco, and São Paulo, offering both on-campus and distance learning programs.

• Health courses represent a significant portion of the student base, with medical, dentistry, and veterinary programs in high demand.

• Track record of organic growth and strategic M&A, expanding both student base and course offerings.

• Mission focuses on innovative, inclusive education and social transformation.

Strategic pillars and growth initiatives

• Six strategic pillars for 2026: organic growth, medical course expansion, quality and differentiation, shareholder remuneration, financial deleveraging, and operational efficiency.

• Investment in technology, digital content, and hybrid learning models to enhance student experience and academic quality.

• Expansion of medical courses, with 1,001 annual seats by 2025, and participation in public calls for new vacancies.

• Focus on high-demand courses (health, law), process automation, and new business development in continuing education and fintech.

• Consistent dividend policy with a 30% payout on a semi-annual basis.

Financial performance and operational efficiency

• Net revenue reached R$2.29 billion in 2025, with adjusted EBITDA of R$592 million and a margin of 26%.

• Net income improved to R$214 million in 2025, with a net margin of 9.2%.

• Significant increase in operational efficiency: on-campus students per unit rose to 3,198 in 2024.

• Net debt/EBITDA reduced to 0.75x by 2Q26, reflecting strong deleveraging.

• Cash generation and EBITDA conversion rates improved, supporting financial sustainability.