Announcement of Academy of Learning Company of the Annual Financial Results for the year ended on 31-12-2023 (12 months).

Announcement of Academy of Learning Company of the Annual Financial Results for the year ended on 31-12-2023 (12 months).

The reason of the increase (decrease) in the sales/ revenues during the current year compared to the last year

The increase in revenue is because of: - The company's adoption of an expansion policy through the opening of new branches. - Continuously adding new diplomas and training programs that align with the needs of the job market. - Diversification and innovation in marketing strategies.

Additional Information

• PPE increased by 43 million Saudi Riyals compared to the previous year. This increase is because of the two new branches that opened in 2023 (a new branch in Khobar and a new branch for men in Dammam). Additionally, PPE included projects under development, such as the Riyadh branch, which is the largest women's training center in the Kingdom, a specialized distance learning center, and a new electronic platform. These projects did not operate yet in 2023 and are expected to operate & contribute to the company's revenues in 2024. • The revenue growth rate for the current year reached approximately 48% This marks the third consecutive year in which the company has achieved revenue growth rates approaching