In this release, Lumi Gruppen provides a trading update as of the end of the
first half 2023.

The private candidate business in Sonans is the most important swing factor for
Lumi Gruppen's financial development in the short to medium term. Sonans' sales
at the end of the first half continue to trail below 2022 levels, to a similar
degree as they did when the first quarter was presented, 10 May 2023. As
presented in the Q1 2023 report, sales were NOK 36 million per week 17 2023
compared NOK 56 million the same week in 2022 (-36%). The sales in the autumn
intake sales cycle last year ended at NOK 209 million. The autumn intake sales
cycle is between week 5 and week 37.  	  

The market for Sonans is expected to normalise over time. However, as of yet,
there is no firm evidence that this normalisation will occur in the 2023/2024
school year, as the effects of the Covid pandemic are still affecting the
education sector in Norway.

As always, we expect to see significant sales after would-be students get
feedback on their university applications on 20 July, but the exact level is
still difficult to predict.

For ONH, the trend is positive, with applicants trending clearly higher than
last year, in line with indications given when the first quarter was presented
with a 20% growth per week 17 2023. For ONH as well, sales are expected to be
affected by the results of the university application process on 20 July.

For the new NTech vocational IT school, the first students will be enrolled in
the 2023/24 school year, but in the short term, this will not significantly
impact Lumi Gruppen's financial performance.

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: Sonans and Oslo Nye
Høyskole. Sonans is the market leader in Norway within private candidate exam
preparation courses, and Oslo Nye Høyskole offers high quality bachelor's
degrees within health, social sciences, psychology and business and
administration, both on campus and online.