Lumi Gruppen AS: Annual Report 2024 Published

Lumi Gruppen ASA today announces the publication of its Annual Report for 2024.
The report follows enclosed, and includes the CEO statement, directors' report,
accounts and notes for the Lumi Gruppen, accounts and notes for the parent
company and the auditor's report.

The annual report highlights a year of clear strategic and operational progress,
with growth across key segments and improved profitability, marking a turning
point for the Group.

"Lumi Gruppen turned a clear corner in 2024, delivering both revenue growth and
improved profitability. This marks a significant milestone and highlights the
strength and resilience of our underlying business," said CEO of Lumi Gruppen,
Nina Vesterby. "While there is still potential for further margin expansion, the
direction is clear - we are gaining strong momentum and moving forward with
confidence."

Key Highlights from the CEO's Statement:

Strong performance at Oslo Nye Høyskole (ONH): ONH remained a key growth driver,
with continued expansion in online and flexible study programmes. Approximately
80% of ONH students are now enrolled in these formats, positioning ONH well for
further market growth.

New campus in Oslo: A major development during the year was the relocation of
ONH to a new, centrally located campus. The upgraded facilities provide a
unified environment for students and staff, enhancing the attractiveness of
ONH's academic offerings.

Vocational relaunch under Oslo Nye Fagskole (ONF): Reintroduced for the autumn
2024 intake, ONF's course portfolio has received positive early feedback, with
expansion planned for upcoming admissions, including new programmes in health
and HR.

Acquisition of Ekko: The addition of Ekko, an online vocational and university
college, further strengthens Lumi Gruppen's position in the higher education
segment. Ekko has submitted several applications for new programme
accreditations via NOKUT, supporting future growth.

Stabilisation of Sonans: After a challenging period, Sonans showed signs of
recovery with revenue growth in the second half of the year. The strategic focus
remains on operational efficiency and margin improvements.

Reflecting on her first months in the role since joining in August 2024, Nina
Vesterby added:
"Over the past several months, I've had the opportunity to get to know our
people, our business, and the students we serve. What I've seen has only
strengthened my conviction that Lumi Gruppen is on the right path. We are
building on a stronger foundation, a focused strategy, and clear signs of
progress across our segments."

For more information, please contact: Martin Prytz, CFO, Lumi Gruppen AS Tel:
+47 480 14 078 Email: IR@lumigruppen.no

About Lumi: Lumi Gruppen is a leading Norwegian education provider founded in
1989. Today, Lumi Gruppen consists of two main divisions: Oslo Nye Høyskole
(ONH) and Sonans. ONH is a private university college established in 2007, with
80% of the students studying online, supplemented by a brand new, modern and
well-equipped campus opened in 2025 located in central Oslo. ONH has grown
revenues more than 15% per annum over the past 10 years reflecting its focus on
fast growing areas of study demand delivered across a modern, accessible and
flexible mix of channels. Sonans is Norway's market leader in high school
private candidate exam preparation courses, primarily to help former high school
students achieve better exam results and/or complete their high school diploma
to enter higher education.