STADIO HOLDINGS LIMITED - Voluntary Business Update at Annual General Meeting

Voluntary Business Update at Annual General Meeting

STADIO HOLDINGS LIMITED
(Incorporated in the Republic of South Africa)
(Registration number: 2016/371398/06
Share code: SDO
ISIN: ZAE000248662
LEI: 3789007C8FB26515D966
("the Company" or "STADIO" "the STADIO Group")

VOLUNTARY BUSINESS UPDATE AT THE ANNUAL GENERAL MEETING

VOLUNTARY BUSINESS UPDATE

Shareholders are hereby advised that a voluntary business update presentation will be provided by the
Chief Executive Officer of the Company, Mr Chris Vorster, during the annual general meeting ("AGM")
of the Company that will be conducted entirely by electronic communication today, 18 June 2026, at
10:00 am.

The presentation relating to the voluntary business update will be available on the STADIO Group
website (www.stadio.co.za) following the AGM. The salient points of the presentation are outlined
below:

1.     An overview of 2025
2.     An overview of the STADIO Group's growth strategy
3.     An overview of 2026 semester one student numbers for the period to 15 June 2026, the details of
       which are set out below:

    MODE                30 June   30 June    30 June   30 June   30 June       30 June     June       2026
                           2020      2021       2022      2023      2024          2025    2026 *   Growth**
    Distance Learning    25 145    29 119     33 505    37 067    40 702        44 179   47 750         8%
    Contact Learning      6 269     5 921      5 662     5 807     6 322         7 018    8 104        15%
    Total                31 414    35 040     39 167    42 874    47 024        51 197   55 854         9%
    MADE UP AS
    FOLLOWS:
    % Distance             80%        83%       85%       86%        87%          86%       85%
    Learning
    % Contact              20%        17%       15%       14%        13%          14%       15%
    Learning

 * These numbers are subject to change based on headcount as at 30 June 2026.
 ** Year to date growth of 10%

•     Overall growth in student numbers of 9% is satisfactory considering the challenging South African
      landscape
•     STADIO Higher Education saw outstanding growth (>18%), with STADIO Durbanville campus
      exceeding 1 300 total students and STADIO Centurion campus exceeding 2 300 students
•     Milpark B2B continues to lag impacting overall distance learning numbers, as well as Namibian
      announcement of free higher education
•     We remain the leaders in private higher education distance learning with over 47 000 students and
      a second semester intake underway
•     Contact learning student numbers continues to grow, despite a sluggish film industry impacting the
      overall contact learning student numbers
•     The STADIO Group will reach its Prelisting Statement promise of 56 000 students in 2026.

2026 — STADIO's Year of Investment

The STADIO Group is encouraged by continued growth in both contact and distance learning
enrolments. As part of its 2030 strategy, STADIO has made 2026 a deliberate year of investment —
opening two new campuses, advancing the Durbanville development, launching 18 new qualifications
or sites of delivery (including Engineering for the first time), and continuing to invest in technology, AI,
the brand and academic capacity. STADIO remains confident in its long-term ambitions, including
reaching 80 000 students by 2030, and 100 000 students, and more, over time.

Share repurchases

Aligned to the STADIO Group's strategy to preserve shareholder value, the Company purchased 6.9
million shares in 2025, for a total of R75.7 million, and a further 0.5 million shares in 2026, for a total
of R6 million. These repurchases reflect management's confidence in the Company's long-term growth
and help prevent dilution when settling obligations under the long-term share incentive scheme. All
shares were cancelled upon purchase.

AGM

The AGM will be conducted entirely by electronic communication, at 10:00 am today, Thursday, 18
June 2026. To join the AGM virtually, please click on the link sent to you by Computershare or
alternatively, you can attend as a guest by clicking on the following link www.meetnow.global/za and
clicking on the STADIO Holdings logo, 30 minutes before the start of the meeting. Click on "Join
meeting now" and select the "Guest" tab. Shareholders who registered to attend can select the
"Invitation" tab and input their participant details to login.

The Company looks forward to hosting you.

Durbanville
18 June 2026

Sponsor
PSG Capital

Date: 18-06-2026 09:04:00
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