Investor Presentaiton

1 Highly Effective Education Exceptional Admission Rates Compared to Shanghai Average In Shanghai in 2016 Four Seasons (1)(2) Shanghai average (3) Four Seasons (1) Shanghai average (3) 24% <1% 60% 6% SEASONS EDUCATIO Top 5 Middle Schools Notes 1. Based on Company survey conducted in 2016 of students who have taken at least one Four Seasons course 2. 24% of Four Seasons' program graduates in 2016 were admitted into the top five middle schools in Shanghai 3. According to Frost & Sullivan Report Top 30 Middle Schools 9

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