Lumi Education Group (the "Company") today provides a trading update following
the conclusion of the autumn 2026 intake across its segments. 

Oslo Nye Høyskole (ONH)
The ONH segment (Oslo Nye Høyskole, Oslo Nye Fagskole and ONH Education) expects
total revenue for the academic year 2026/27 to increase by 2-4%, to NOK 340-345
million. The increase is driven by growth in recurring revenues from continuing
students, which more than offsets a softer intake of new students.

The softer intake was partly driven by market trends, with the number of
students starting higher education growing only by around 0.5% relative to last
year. Campus grew in line with the market, but with a smaller portfolio than
peers. Online developed positively in several areas but was softer overall. 

ONH is responding by developing its programme portfolio towards areas of strong
demand, led by new bachelor's programmes and supported by new one-year
programmes. As new programmes currently depend on NOKUT's processing times, ONH
expects to launch more programmes as approvals come through, starting from
spring 2027.

Outlook for the academic year 2026/27 (1 July 2026 to 30 June 2027)
-	Revenue growth of 2-4%, corresponding to revenue* of NOK 340-345 million.
-	Adjusted EBITA margin of approximately 25%, broadly in line with the prior
academic year, supported by cost measures implemented during the autumn.

Sonans
The Sonans segment expects revenue for the academic year 2026/27 to decline by
11-13%. The figures exclude Bjørknes, which is presented separately. The
completion reform (Norwegian: fullføringsreformen) negatively impacted demand
this year, and changing market conditions affected the average revenue per
student.

Sonans continues to pursue its plan to grow its market share in trade subjects
(Norwegian: yrkesfag). The Company estimates a revenue potential of NOK 20-30
million in this area, delivered mainly online and with attractive margins.

Outlook for the academic year 2026/27 (1 July 2026 to 30 June 2027)
-	Revenue decline of 11-13% (excluding Bjørknes), corresponding to revenue* of
NOK 173-176 million.
-	Adjusted EBITA margin of 10-12%, with cost measures mitigating the effect of
lower volumes.

Sonans: Bjørknes
The acquisition of Bjørknes Privatskole was completed on 26 September 2026, with
consolidation from 1 October 2026. Given the softer intake at Sonans, the
integration of Bjørknes and Sonans has been accelerated, and synergies in line
with the 75-100% of Bjørknes' NOK 8 million EBIT communicated at the time of the
acquisition are expected, substantially from the academic year 2027/28.

Outlook for the academic year 2026/27 (1 July 2026 to 30 June 2027), before
synergies
-	Revenue of NOK 21-23 million and adjusted EBITA of NOK 5-6 million for the
nine months consolidated (approximately NOK 28-30 million and NOK 7-8 million on
a 12-month pro forma basis).

EnkelEksamen
EnkelEksamen has bedded in well within the Group and will be consolidated for a
full academic year for the first time in 2026/27. In 2025/26, revenue ended at
the top of the communicated range of NOK 41-43 million.
Outlook for the academic year 2026/27 (1 July 2026 to 30 June 2027)
-	Revenue growth of 12-19%, corresponding to revenue of NOK 48-51 million.
-	Adjusted EBITA margin of 25-30%.

Group
Including Bjørknes from 1 October 2026, total Group revenue for the academic
year 2026/27 is expected to grow by 1-4%. Excluding Bjørknes, Group revenue is
expected to be 0-2% below the prior year.
Outlook for the academic year 2026/27 (1 July 2026 to 30 June 2027)
-	Revenue* of NOK 582-595 million (versus NOK 573.2 million in the prior
year**).
-	Adjusted EBITA of NOK 106-111 million (versus NOK 109 million in the prior
year).
Other items

In response to the softer intake, the Group has implemented cost measures with
an expected effect of approximately NOK 25-30 million in the academic year
2026/27 and approximately NOK 30-35 million annualised, equally split between
Sonans and ONH. The cost measures are included in the outlook above.

The Company expects to recognise non-recurring expenses of approximately NOK 10
million in the academic year 2026/27, mainly related to the integration of
Bjørknes and Sonans, other cost measures and the appeal process with NOKUT.
These are excluded from adjusted EBITA and from the outlook figures above.

Based on the completed intake, the Company expects to recognise a non-cash
goodwill impairment related to Sonans of NOK 175-250 million (out of total
goodwill allocated to Sonans of NOK 475 million) in its report for the second
half of 2026. The impairment will not affect the Group's cash flow, adjusted
EBITA or financing covenants.

* Revenue is defined as Operating Revenue in the Group's financial statements.
** Prior-year figure for EnkelEksamen is presented on a full-year basis,
including the period before consolidation.

Nina Vesterby, CEO of Lumi Education Group, commented:
"This year's intake has been softer than expected, and we have acted early. Cost
measures have offset most of the decline, and we are adjusting our offering
where demand is moving, with new programmes at ONH, a faster Bjørknes
integration in Sonans and continued strong growth in EnkelEksamen. Our business
model gives us good visibility for the year ahead, and we expect to deliver
earnings in line with last year. Our focus now is to position our segments for
solid growth from the 2027/28 intake."

For further information please contact:
Martin Prytz, CFO and Head of Investor Relations
E-mail: IR@lumigruppen.no
Mobile: +47 480 14 078

About Lumi Education Group
Lumi Education Group ("Lumi") is one of Norway's leading education providers,
founded in 1989. Through its portfolio of brands, including Sonans, Oslo Nye
Høyskole and EnkelEksamen, the Group operates across higher education, exam
preparation, vocational training and digital learning. Lumi develops its
companies through organic growth and selective M&A, providing strategic support,
capital and governance while preserving the brand, culture and academic
integrity of each business. By broadening access to relevant education, Lumi
supports social mobility and workforce development in a society where demand for
new skills continues to grow.

This information is subject to the disclosure requirements pursuant to section
5-12 of the Norwegian Securities Trading Act.
 demand for\
new skills continues to grow.\
\
This information is subject to the disclosure requirements pursuant to section\
5-12 of the Norwegian Securities Trading Act.\