#1Pearson 2022 Full Year Results 3rd March 2023 P Pearson 11#2Forward-looking statements Except for the historical information contained herein, the matters discussed in this statement include forward-looking statements. In particular, all statements that express forecasts, expectations and projections with respect to future matters, including trends in results of operations, margins, growth rates, overall market trends, the impact of interest or exchange rates, the availability of financing, anticipated costs savings and synergies and the execution of Pearson's strategy, are forward- looking statements. By their nature, forward-looking statements involve risks and uncertainties because they relate to events and depend on circumstances that will occur in future. They are based on numerous assumptions regarding Pearson's present and future business strategies and the environment in which it will operate in the future. There are a number of factors which could cause actual results and developments to differ materially from those expressed or implied by these forward-looking statements, including a number of factors outside Pearson's control. These include international, national and local conditions, as well as competition. They also include other risks detailed from time to time in Pearson's publicly-filed documents and you are advised to read, in particular, the risk factors set out in Pearson's latest annual report and accounts, which can be found on its website (pearsonplc.com). Any forward-looking statements speak only as of the date they are made, and Pearson gives no undertaking to update forward- looking statements to reflect any changes in its expectations with regard thereto or any changes to events, conditions or circumstances on which any such statement is based. Readers are cautioned not to place undue reliance on such forward- looking statements.#3Here Today Andy Bird CEO Sally Johnson CFO Gio Giovannelli President, English Language Learning Tom ap Simon President, Higher Education & Virtual Learning Mike Howells President, Workforce Skills Art Valentine President, Assessment & Qualifications Lynne Frank Co-Head, Direct-to-Consumer Sulaekha 'Sue' Kolloru Barger Chief Strategy Officer Ali Bebo Chief Human Resources Officer Cinthia Nespoli Chief Legal Officer 3#4Priorities for 2022 00 Deliver sales and profit growth Embed customer & consumer insights Focus on execution, quality and trust Scale and grow Pearson+ 4#5Key achievements in 2022 Focus on execution delivered sales and profit growth, ahead of expectations Delivering strategic progress by reshaping our portfolio and increasing interconnectivity Delivered cost efficiencies yielding £120m of benefit in 2023 Progress of Pearson+ increasing consumer footprint and providing valuable insights 1 11:01 PPearson+ Channels ✓ Chemistry 2.8 active learners Learn Intro to General Chemistry Classification of Matter Chemistry is the study of matter and the changes it undergoes, with the atom being its basic functional unit. Matter Concept Classification of Matter pearson.com Beta Q Next Topic > 5GE Sign in wwwwwww LO 5#6Financial Review & Outlook P 6#72022 Financial Highlights ● ● ● ● ● ● ● Group performance ahead of expectations Underlying sales up 5%, adjusted operating profit up 11%, EPS up 48% Strong underlying cash performance Robust balance sheet Dividend up 5% £350m share buyback completed Well positioned to support long term growth ambitions Revenue £3,841m up 5% underlying (2021: £3,428m) Adjusted earnings per share 51.8p up 48% (2021: 34.9p) Adjusted operating profit £456m up 11% underlying (2021: £385m) Full year dividend 21.5p up 5% (2021: 20.5p) Operating cash flow £401m 88% cash conversion (2021: £388m) Net debt £0.6bn (2021: £0.4bn) 7#82022 Sales £m Assessment & Qualifications** Virtual Learning Higher Education English Language Learning Workforce Skills Businesses under strategic review** Total sales 2022 1,444 820 898 321 204 154 3,841 2021 1,238 713 849 238 172 218 3,428 *Constant exchange rates are calculated by assuming the average FX in the prior year prevailed through the current year ** Note: Changes to prior year comparatives reflect transfer of retained English-speaking Canadian and Australian K12 Courseware businesses to Assessment & Qualifications division. CER growth* 8% 4% (4)% 28% 16% (30)% 3% Underlying growth 8% 4% (4)% 24% 7% (16)% 5% 8#92022 Adjusted Operating Profit £m Assessment & Qualifications* Virtual Learning Higher Education English Language Learning Workforce Skills Businesses under strategic review* Total adjusted operating profit/(loss) 2022 258 70 91 25 (3) 15 456 2021 219 32 73 15 27 19 385 *Note: Changes to prior year comparatives reflect transfer of retained English-speaking Canadian and Australian K12 Courseware businesses to Assessment & Qualifications division. Margin (%) 2022 18% 9% 10% 8% (1)% 10% 12% Underlying growth 6% 88% 12% 33% (67)% 0% 11% 9#10Key Cash Flow Movements £m Adjusted operating profit Capex cash Depreciation. Net capex investment Product development cash Amortisation Net product development investment Other working capital movements Operating cash flow Operating cash conversion 2022 456 (196) 209 13 (357) 290 (67) (1) 401 88% 2021 385 (206) 213 7 (287) 264 (23) 19 388 101% 10#11Cash & Balance Sheet £m Operating cash flow Cash conversion% Free cash flow Net debt Net debt: adj. EBITDA ROC Dividend 2022 401 88% 222 (557) 0.8x 8.7% 21.5p 2021 388 101% 133 (350) 0.6x 7.9% 20.5p 11#12Financial Expectations Segment Assessment & Qualifications Virtual Learning . ● Virtual Schools OPM Higher Education Group English Language Learning Workforce Skills Strategic review *Adjusted operating profit margins 2022 Revenue (£m) 1,444 820 519 301 898 321 204 154 3,841 Margins* 2022 18% 9% 10% 8% (1)% 10% 12% 2023 expectations Revenue growth Low to mid-single digit Mid-single digit decline Low-single digit decline High-single digit Double-digits Excluding OPM and strategic review: Low to mid-single digit Margins* Increase Increase Under Strategic review Increase Increase Improve Mid-teens Underlying revenue 3-year CAGR 2022 to 2025 Low to mid-single digit Low-single digit Low to mid-single digit High-single digit Greater than 20% Mid-single digit Margins* 2025 Increase Increase Increase Increase Increase Upper end of mid- teens 12#13Financial Expectations Phasing Phasing considerations 1. English Language Learning ● 2. Workforce Skills ● Expect a particularly strong Q1 against a comparative in 2022 where global mobility had not fully returned. ● Growth will build over the year given talent investment platform launch. 3. Higher Education Revenue recognition shift between Q1 and Q2 given Pearson+. DELL) 13#14Balance Sheet Group Capex & product development Cash conversion Return on capital 2022 £196m £357m 88% 8.7% 2023 Capex reduces, investment mix shifting towards product. development > 90% Improvement 2025 Capex reduces, investment mix shifting towards product development > 90% Double-digits 14#15Capital Allocation Strong balance sheet | Investment grade credit rating Invest in the business to accelerate growth opportunities Capex and product development for organic growth Focused and disciplined approach Dividends Progressive and sustainable Surplus cash returns Buybacks or special dividends as and when appropriate 15#16Summary Exceeded financial expectations in 2022 Revenue growth and margin improvement in 2025 On track to meet market expectations in 2023* Balance sheet capacity to invest and increase dividend *One the basis of consensus at £585m at USD: GBP 1.14. For reference, each 1c move in USD FX rate equates to £4m of adjusted operating profit Mid-teens margin target to be delivered in 2023 Strong operating cash conversion, attractive free cashflow profile, and improving return on capital 16#17English Language Learning P ✓ Lifetime Access mondly.com 11:11 FLUENCY... closer than you think One mondly languages Xin chào! Čau! Selam! Tela! Hey! Hello! Szia! ¡Hola!! Ciao! BET! こんにちは 5GE Ola Salut! 17#18Key Takeaways Strategy that enables us to expand our addressable market, increase market share, and ● ● P capture more customer lifetime spend. Mondly giving us access to online self-study language learning market to drive growth. Targeting high-single digit revenue CAGR to 2025 with increased profitability. ✓ Lifetime Access 11:11 FLUENCY... closer than you think mondly.com One mondly languages Xin chào! Čau! Selam! Tela! Hey! Hello! Szia! ¡Hola!! Ciao! BET! こんにちは Ola Salut! 5GE 18#19Growth opportunities across all three of our product areas Central to the success of all our products is our proprietary Global Scale of English - a simple scale that allows learners to track the progress of their language learning journey. Addressable market c.£3bn. • 1 of 3 biggest players in courseware. Growth to be driven by accelerating development of digital-first, flexible products. tutional GSE Global Scale of English Assessme Online Self-Study ● ● Addressable market for high stakes c.£900m with c.6m assessments delivered annually. PTE: top 3 player with volume share c.14%. Growth to be driven by test delivery in Canada and expanding addressable market outside of traditional high-stakes assessment. Addressable Market size c.£2bn with c.67m consumers and double-digits growth to 2025. Rated top 10 in the Oculus Store. Growth to be driven by further integration and product enhancements. Exploring corporate language learning through MondlyWORKS. 19#20English Language Learning Interconnectivity Bringing millions of direct-to-consumer relationships into the broader Pearson ecosystem. Growing interconnectivity with Pearson's other divisions. English Language Learning Workforce Skills Assessment & Qualifications Higher Education Virtual Learning Connection examples ● English added to Faethm's skills framework. Credly badges for suite of English assessment products. Developing enterprise joint go-to-market with Workforce Skills. Mondly via Pearson+. 20#21English Language Learning Performance and product roadmap 2022 financial KPIs Sales: £321 m / 2021: £238m (+24% UL) Adjusted operating profit: £25m / 2021: £15m (+33%) ● ● Segment English Language Learning Product roadmap mondly languages. P Pearson | PTE 2022 revenue (£m) 321 Margin* 2022 8% 2023 2022 non-financial KPIs PTE score return: 1.3 days (vs 1.2 days PY) • PTE volume: 827k tests (+90% vs PY) • PTE NPS: +52 (2021: +56) 2023 expectations Revenue High-single digit Margin* Increase 2024 Underlying revenue 3-year CAGR 2022 to 2025 Pearson English Skills Certificate with Credly badging High-single digit Integrate more intermediate & advanced content / Institutional & Global Scale of English alignment / Pearson+ integration / UI & UX enhancements PTE for Canada Migration Margin* 2025 Increase *Adjusted operating profit margin 2025+ 21#22Higher Education P 22#23Key Takeaways We have strengths in IP, author and faculty relationships, learning technology and Pearson+. P We are increasing our competitiveness - driving share through go-to-market strategy, upgrading our platforms, launching new products in 2023. Targeting a low to mid-single digit revenue CAGR to 2025 and increased margins. 23#24Initial impressions and actions taken Key strengths ● ● ● ● Incredible IP. Great author relationships. Deep expertise in learning technology. Strong faculty relationships. P+ / Channels. Increasing our competitiveness ● ● Bringing in new talent. Reducing fixed costs. New product led operating model. Investing in sales. Transforming product. R 24#25Honing our go to market strategy whilst focusing on product Go to market changes ● Core team continue focus on 5 key disciplines - Math, Business, Science, Computer Science and Engineering. Customer loyalty team with a focus on retention. New team focused on winning new business in white space. Developing our coverage for professional disciplines. Increasing efforts to cover disciplines such as English, Humanities and Social Sciences. Focus on product ● ● ● Converging and upgrading our courseware platforms. Simplifying Inclusive Access integration strategies. Building out our digital learning experiences. Driving improvements in stability. © 000 25#26Higher Education Performance and product roadmap 2022 financial KPIs Sales: £898m / 2021: £849m (-4% UL) Adjusted operating profit: £91m/2021: £73m (+12% UL) Segment Higher Education Product roadmap P Pearson + P Pearson MyLab & Mastering 2022 revenue (£m) 898 Margin* 2022 10% 2023 2022 non-financial KPIs HE US digital registrations: 9.9m (11.1m**) HE product usage- text units: 4.8m (5.4m) Pearson+ registered users: 2.83m (2.75m) 2023 expectations Revenue Low-single digit decline Margin* Increase 2024 Underlying revenue 3-year CAGR 2022 to 2025 Low to mid-single digit P+ Channels (more disciplines and skills) Additional features / international markets / integration with broader Pearson portfolio Cloud migration Product refresh (Freehand Grader, Adaptive Diagnostics, Next Gen Learning Experiences) Margin* 2025 *Adjusted operating profit margin **2021 US digital registrations restated from 11.4m to 11.1m due to recategorising 0.3m of registrations from US to International Increase 2025+ 26#27Workforce Skills P 27#28Key Takeaways ● ● ● Р In 2022 we delivered solid financial performance whilst developing new product and setting the business up for success. Workforce Solutions will be the growth engine of the division, supported by our new talent investment platform. Targeting revenue CAGR greater than 20% to 2025 and increased margins. 28#29Workforce Skills Vision, market opportunity and business segments Vision Our ambition is to build a world where success in work is no longer about what you've done, but what you can do. We enable a world where people and organizations can achieve their full potential in the new skills economy. Vocational Qualifications P Pearson BTEC P Pearson TQ Workforce Solutions P Pearson Accelerated Pathways GED Credly by Pearson FÆTHM by Pearson TESTING SERVICEⓇ ? Pearson TalentLens Market opportunity 1bn people Will need reskilling by 2030 (The World Economic Forum estimates) £200bn + Revenue opportunity in the markets we want to operate it 7% CAGR In the workforce skills market to 2025 29#30Talent investment platform in focus Product functionality today and future developments Key FÆTHM by Pearson P Pearson Psychometric TalentLens assessments Credly Future development Inferred skills based on roles Earned skills from credentials Employer prop Profile Consumer prop Career paths and recommendation engine Visibility of real-time workforce skills Understand workforce impact of tech and economic scenarios Improve strategic workforce planning decisions (redundancy, redeployment & retraining) Marketplace for credentialed learning 30#31Commercial relationships with broad range of clients aws IBM LLOYDS BANKING GROUP |||||||| CISCO snowflake servicenow DELL Z ZURICH Ⓡ ∞ Meta south east water A Adobe 31#32Workforce Skills Interconnectivity Fitting firmly in Pearson's wider strategy, with products that can interconnect with others across the Pearson ecosystem, supporting and accelerating Pearson's lifelong learning ambition. English Language Learning Workforce Skills Assessment & Qualifications Higher Education Virtual Learning Connection examples ● ● ● English added to Faethm's skills framework. Credly badges for suite of English assessment products. Developing enterprise joint go-to-market with English Language Learning. Credly badging for career readiness with Virtual Schools. 32#33Workforce Skills Performance and product roadmap 2022 financial KPIs ● Sales: £204m/2021: £172m (+7% UL) Adjusted operating profit: -£3m / 2021 £27m ( -67% UL) Segment Workforce Skills Product roadmap Pearson Workforce Solutions 2022 revenue Margin* (£m) 2022 204 (1)% 2023 2022 non-financial KPIs Number of enterprise customers: 1,503 (645) Number of Workforce Skills registered users: 4.7m Enterprise customer net retention rate: 74% ● ● 2023 expectations Revenue Double-digits Margin* Improve 2024 Launch talent investment platform and product suite. Integrate skills services for consumers Underlying revenue 3-year CAGR 2022 to 2025 Greater than 20% Margin* 2025 2025+ Increase *Adjusted operating profit margin Expand skills services & talent network 33#34Assessment & Qualifications P 15. 34#35Key Takeaways Business demonstrated continued momentum in 2022. P Pearson VUE growth initiatives will help us expand the scope and reach of our offering. Targeting low to mid-single digit revenue CAGR to 2025 with increased profitability. 15. 35#36Pearson VUE's balanced portfolio drives growth Broad portfolio of clients across industries Insurance Finance 550 clients Government Real Estate Note: Portfolio exposure by client count Healthcare Professional Teacher Licensure Other Revenue ($m) Driving robust sales growth through economic cycles 800 700 600 500 400 300 200 100 0 Sales CAGR 2003-2022 = 14% $710m 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 Note: Revenues calculated using constant exchange rate 36#37Building out our sources of future growth Moving up value chain Expanding on core testing capabilities ? Pearson VUE 2 1 Expanding Pearson VUE's service offering PDRI acquisition pdri Accretive to growth Expanding reach in key strategic area 37#38Assessment & Qualifications Interconnectivity Complementary relationships with a number of Pearson products evidencing growing synergies across portfolio. English Language Learning Workforce Skills Assessment & Qualifications Higher Education Virtual Learning Connection examples ● Professional certifications complementing Workforce Skills. Testing centre network as the delivery backbone of Pearson Test of English. Leveraging Higher Education content for professionals to prepare for certification journey. 38#39Assessment & Qualifications Performance and product roadmap 2022 financial KPIs Sales: £1,444m/2021 £1,238m (+8% UL) Adjusted operating profit: £258m / 2021 £219m (+6% UL) ● Segment Assessment & Qualifications Product roadmap ? P Pearson VUE 2022 revenue (Em) 1,444 Margin* 2022 18% 2023 Vertical market expansion 2022 non-financial KPIs ● ● ● VUE test volumes: 19.4m (+16%) OnVue test volumes: 3m (2021:3m) VUE customer retention: 99.9% (2021: 99%) 2023 expectations Revenue Low to mid-single digit Margin* Increase 2024 Value chain expansion Geographic expansion Underlying revenue 3-year CAGR 2022 to 2025 Low to mid-single digit Margin* 2025 2025+ Increase *Adjusted operating profit margin 39#40Pearson+ P OnaneIS General Chemistry with Jules 1500-Videos 550- Questions Organic Chemistry win Johnny 1400+ Videos Business Notes Pearson dormPy Tupic 4 ESS-Goo Pearson+ Channels are designed to help you quickly and easily understand complex concepts using short videos and practice My Apps Dashboa Physics with Patrick 1000+Videos 300+ Questions Anatomy & Physiology I 500+ Videos 200+ Questions skidmore mail contiki Off-Campus Stud. MacBook Air 0 Microbiology with Jason D 1800+Videos 1000+ Questions My offers We've teamed up with partners to bring Pearson+ members exclusive deals tailored to your lifestyle. Anatomy & Physiology II D 300+ Videos 100+ Questions 061 40#41Key Takeaways Pearson+ has quickly gained traction in the market. P Channels is meaningfully expanding the addressable market and reach with college students. Pearson+ will increasingly become a key offering to integrate consumers into the Pearson ecosystem. General Chemistry with Jules 1500-Videos 550- Questions Organic Chemistry wie Johnny Business Notes 1400+ Videos Pearson Tupic 4 ESS-Goo OnameS Pearson+ Channels are designed to help you quickly and easily understand complex concepts using short videos and practice My Apps Dashboa Physics with Patrick 1000+Videos 300+ Questions Anatomy & Physiology I 500+ Videos 200+ Questions skidmore mail contiki Off-Campus Stud. MacBook Air 0 Microbiology with Jason D 1800+Videos 1000+ Questions Anatomy & Physiology II D My offers We've teamed up with partners to bring Pearson+ members exclusive deals tailored to your lifestyle. 300+ Videos 100+ Questions 061 41#42Building momentum with Pearson+ 1,800+ titles now available *Registered users and paid subscriptions represent July 16 to Dec 31 Paid subscriptions and registered users growing Paid subscriptions* 133k Fall 2021 406k Fall 2022 3x 606k Paid subscriptions 2022 Calendar Year Registered users* 2.75m Fall 2021 2.83m Fall 2022 4.8m Registered users +80k 42#43Expanding Pearson+ Channels Video & Practice Content 40k+ Video Minutes Played c.2m ... 28 Practice Engagements 1m 43#44Interconnectivity and extending our value proposition An illustrative example Р Pearson+ 个 aws P Pearson VUE → Credly by Pearson 44#45Summary P 12:42 PM Wed Jul 20 Pearson+ pearson.com a Search by ISBN Title, or Author Browse our most popular eTextbooks ORGANIZATIONAL BEHAVIOR Organizational Behavior EDUCATIONAL PSYCHOLOGY Educational Psychology: Developing Learners BIOLOGY 88 Campbell Biology Get Pearson+ to access these offers PINE Sign in VIEW ALL TITLES Human Anatomy & Physiology 6 Essentials of Human Anatomy & Physiology VIEW ALL OFFERS 16 1 45#46Key Takeaways English Language Learning growing, expanding direct-to-consumer relationships. Organisational changes and investment in products to drive growth in Higher Education. ● Р Pearson+ will support our ambitions within Higher Education and across a lifetime of learning. Workforce Solutions represents a significant step forward in the Workforce Skills strategy. Assessment & Qualifications expanding the scope of its offering, will play a central role in our lifetime of learning strategy. 12:42 PM Wed Jul 20 Pearson+ pearson.com a Search by ISBN Title, or Author Browse our most popular eTextbooks ORGANIZATIONAL BEHAVIOR Organizational Behavior EDUCATIONAL PSYCHOLOGY Educational Psychology: Developing Learners BIOLOGY 88 Campbell Biology Get Pearson+ to access these offers PINE Sign in VIEW ALL TITLES Human Anatomy & Physiology 6 Essentials of Human Anatomy & Physiology VIEW ALL OFFERS 16 1 46#47Priorities for 2023 00 Drive sustainable and profitable revenue growth Delight our consumers and be obsessed with meeting their expectations Focus on execution across the business 47#48Pushing further into a business model that connects consumer led learning into one Pearson experience Opportunity to further combine our capabilities to benefit a vast number of individuals and enterprises Key English Language Learning Credly badging: Global Scale of English + Faethm integration Al scoring: PTE delivery Product & technology synergy Go-to-market synergy Content synergy GED & BTEC delivery: Credly badging Enterprise joint GTM Workforce Skills Assessment & Qualifications Mondly via P+ Credly badging: Career Readiness Consumer pipeline Work-ready content exploration Connections Academy + US Student Assetssments MindHub & CertPrep content sharing Higher Education Virtual Learning Career readiness 48#49Appendix P 49#50Measuring Our Success Strategic KPIs Enabling sustainable growth, driving shareholder value and contributing to a more equitable world ΚΡΙ Digital Growth Objective Drive digital revenue growth KPI Measure Underlying growth in Group digital and digital-enabled sales Virtual Schools US enrolments OPM student enrolments OnVUE volumes Higher Education US digital registrations PTE volume Note: 2021 US digital registrations restated from 11.4m to 11.1m due to recategorising 0.3m of registrations from US to International 2022 Actual 9% 106k 270k 3.0m 9.9m 827k 2021 Actual 9% 111k 275k 3.0m 11.1m 436k 50#51Measuring Our Success Strategic KPIs Enabling sustainable growth, driving shareholder value and contributing to a more equitable world ΚΡΙ Consumer Engagement Objective Create engaging and personalised consumer experiences KPI Measure NPS for Connections Academy NPS for PTE Pearson+ registered users Workforce Skills registered users Mondly paid subscriptions 2022 Actual +67 +52 2.83m 4.7m Notes: Pearson+ registered users represents the number of unique user accounts added over an academic year. Workforce Skills registered users represents the number of net new user accounts on a trailing 12-month basis and includes net new user accounts from Credly pre-acquisition. 446k 2021 Actual +62 +56 2.75m n/a n/a 51#52Measuring Our Success Strategic KPIs Enabling sustainable growth, driving shareholder value and contributing to a more equitable world ΚΡΙ Product Effectiveness Objective Improve the effectiveness of our products to deliver better outcomes KPI Measure PTE speed of score return Notes: VUE test volumes include GED tests. VUE Partner retention is based on revenue mix. Workforce Skills number of enterprise customers represents the number of customers at period end. VUE test volumes VUE Partner retention Higher Education product usage - text units Workforce Skills number of enterprise customers Workforce Skills enterprise customer net retention rate 2022 Actual 1.3 days 19.4m 99.9% 4.8m 1,503 74% 2021 Actual 1.2 days 16.8m 99% 5.4m 645 n/a 52#53Measuring Our Success Strategic KPIs Enabling sustainable growth, driving shareholder value and contributing to a more equitable world ΚΡΙ Culture of Engagement & Inclusion Sustainability Strategy Objective Build a culture of engagement and inclusion where diverse talent is heard, invested in and valued for their strengths and skills Achieve net zero carbon by 2030 Employee engagement Pearson uses the GallupQ¹2 survey to measure engagement, annually KPI Measure ● Investing in diverse talent The % of responses who agree or strongly agree to Gallup Q¹2 survey questions. Culture of Inclusion Index The Grand Mean of 3 Gallup Q¹2 survey questions: At work, I am treated with respect My company is committed to building the strengths of each employee ● If I raised a concern about ethics and integrity, I am confident my employer would do what is right Increasing diverse talent Progress against achieving net zero carbon by 2030, as measured through percentage carbon reduction 2022 Actual 3.96 GrandMean on a 5 point Likert scale In the last six months, someone at work has talked to me about my progress= 67% This last year, I have had opportunities at work to learn and grow = 72% 4.12 Grand Mean on a 5 point Likert scale Diverse candidates in leadership development and mentoring programmes= 75% Diverse candidates in succession plans for leadership: Women 52% People of colour/BAME= 26% 33% reduction vs 2018 base 2021 Actual n/a Note: Net zero carbon figures have been restated in 2021 to reflect acquisitions, disposals and data improvements. The net zero carbon figures have been assured by an independent third-party, Corporate Citizenship. n/a n/a n/a n/a Women 72% People of colour/BAME=24% 31% reduction vs 2018 base 53#54US Higher Education Courseware College Units Units by format Print Bundles Platforms Rental eText Total KEY Print: College textbooks Bundles: College textbooks + platform 2022 units (m) 1.1 0.3 5.5 0.3 3.4 10.6 Platforms: MyLab, Mastering and Revel Rental: Print textbook rental eText: eText and Pearson+ 2021 units (m) 1.5 0.5 6.1 0.3 3.6 12.0 Year on year change (28)% (44)% (10)% 21% (6)% (12)% 54#55Product Roadmap mondly languages P Pearson | PTE P Pearson + P Pearson MyLab & Mastering CONNECTIONS ACADEMYⓇ by Pearson Pearson Workforce Solutions P Pearson VUE 2023 2024 Integrate more intermediate & advanced content / Institutional & Global Scale of English alignment / Pearson+ integration / UI & UX enhancements Pearson English Skills Certificate with Credly badging PTE for Canada Migration P+ Channels (more disciplines and skills) Additional features / international markets / integration with broader Pearson portfolio Product refresh (Freehand Grader, Adaptive Diagnostics, Next Gen Learning Experiences) Cloud migration Course customization capabilities for teachers Pearson-built curriculum Vertical market expansion Launch talent investment platform and product suite. Integrate skills services for consumers 2025+ Value chain expansion Geographic expansion Standards based reporting Expand skills services & talent network Workforce Skills Higher Education Virtual Learning Assessment & Qualifications English Language Learning Pearson User Profile 55