Q4 FY 2015 Results Presentation

1. Nord Anglia Education
Full fiscal year 2015 results
presentation
November 16,
2015
For the period ended August 31, 2015

2. 2
Neither Nord Anglia Education Inc. (NYSE: NORD) nor any of its subsidiaries or affiliates is
making any representation or warranty, expressed or implied, as to the accuracy or
completeness of the attached materials.
Please note that the attached materials and our oral explanations of the attached materials
may constitute forward-looking statements within the meaning of applicable U.S. securities
laws and such forward-looking statements are made based on our current
expectations. Forward-looking statements relate to events involving certain risks and
uncertainties, and actual results may differ materially from the views expressed.
A number of potential risks and uncertainties are outlined in our public filings with the
Securities and Exchange Commission. Nord Anglia Education Inc. does not undertake any
obligation to update any forward-looking statement, except as required under applicable
law. You are cautioned not to place undue reliance on any forward-looking statements.
Disclaimer

3. 3
The world’s leading premium schools
organization
42 schools 15 countries 34,300 students 48,998
capacity

4. 4
2015 Outstanding Academic Outcomes
IGCSE Results 2015
Students achieving 5A*- C (inc English and Math)
International Baccalaureate Results 2015
Students’ Average Diploma Score (max. 45 points)
* UK average 53% as of 2014 (2015 data not yet released)

5. 5
Fiscal 2015 highlights
Financial
 Revenue up 21.6% (CC1 25.2%) from $474.6 million to $577.0 million
 Adjusted EBITDA up 8.6% (CC110.1%) from $127.4 million to $138.3
million
 Adjusted Net Income up from $22.8 million to $46.6 million
 Adjusted Diluted EPS up 77.7% from $0.27 to $0.47
Operational
 Average full time equivalent students (FTEs) up 28.7% from 17,313
to 22,286
 Capacity up 42.5% from 22,007 seats to 31,358 seats
 Revenue/FTE down 4.0% (CC1 0.8% down) from $26.4k to $25.3k1 CC denotes Constant Currency

6. 6
Financial Performance

7. 7
Group performance summary – Q4 fiscal 2015 vs Q4 fiscal 2014
$ millions Q4FY15(1) Q4FY14 Variance
Premium Schools 84.1 59.4 Actual: 41.6%
CC(2): 45.8%
Other 4.6 4.7
Total Revenue 88.7 64.1 Actual: 38.4%
CC(2): 42.9%
Gross Profit 26.5 20.8 Actual: 27.4%
CC(2): 32.8%
Gross Profit Margin 29.8% 32.4% (2.6%)
Adjusted EBITDA (3.6) 1.2 Actual: (392.3)%
CC(2): (338.3)%
Adjusted EBITDA Margin (4.0%) 1.9% (5.9%)
Adjusted Net Income (23.0) (15.2)
Adjusted EPS (in $) (0.22) (0.16)
1 Q4 ends August 31
2 CC denotes Constant Currency

8. 8
Group performance summary – Fiscal 2015 vs Fiscal 2014
$ millions FY15(1) FY14 Variance
Premium Schools 563.2 456.4 Actual: 23.4%
CC(2): 27.6%
Other 13.8 18.2
Total Revenue 577.0 474.6 Actual: 21.6%
CC(2): 25.2%
Gross Profit 224.4 194.3 Actual: 15.5%
CC(2): 18.0%
Gross Profit Margin 38.9% 40.9% (2.0%)
Adjusted EBITDA 138.3 127.4 Actual: 8.6%
CC(2): 10.1%
Adjusted EBITDA Margin 24.0% 26.8% (2.8%)
Adjusted Net Income 46.6 22.8 104.8%
Adjusted EPS (in $) 0.47 0.27 77.7%
1 Fiscal year ends August 31
2 CC denotes Constant Currency

9. 9
Fiscal 2015 premium schools revenue bridge
$ millions
563.2
(15.1)
50.0
71.9
45…
441.3
0.0
100.0
200.0
300.0
400.0
500.0
600.0
FY14
Revenue Actual
FY14
FX impact
FY14
Revenue (CC )
FY15 Revenue
growth ex
acquisitions
(CC )
FY15 Singapore,
Cambodia,
Vietnam
& Meritas
Revenue
FY15
Revenue Actual
11%
16%
1
1
1 CC denotes Constant Currency

10. 10
China highlights
Commentary
 FY15 Avg Revenue/FTE $35.0k up from $34.3k
 Capacity 7,756 places up 11.4% from 6,964
FY15 Revenue
$183.2m from $165.6m
+10.7%
+11.3%CC
FY15 Adj. EBITDA
$85.0m from $78.4m
+8.3%
+9.1% CC
4,827
5,228
Average FTEs
FY14 FY15
Financial Performance
The British School of Beijing, Shunyi (Shunyi, Beijing)

11. 11
Europe highlights
Commentary
 FY15 Avg Revenue/FTE $28.8k down from
$30.1k primarily due to FX impact
 Capacity 6,084 places up 14.3% from 5,322
Financial Performance
FY15 Revenue
$133.3m from $136.0m
(1.9%)
+8.7% CC
FY15 Adj. EBITDA
$17.1m from $26.0m
(34.1%)
(28.6%) CC
4,514 4,624
Average FTEs
FY14 FY15
College du Leman, (Geneva, Switzerland)

12. 12
Middle East / South East Asia highlights
Commentary
 FY15 Avg Revenue/FTE $17.1k up from $16.4k
 Capacity 13,758 places up 130.8% from 5,961
 BISVietnam integration completed
Financial Performance
British International School Ho Chi Minh City (HCMC, Vietnam)
FY15 Revenue
$164.1m from $86.0m
+90.8%
+92.7% CC
FY15 Adj. EBITDA
$39.6m from $22.2m
+77.9%
+78.8% CC
5,230
9,618
Average FTEs
FY14 FY15

13. 13
North America highlights
Commentary
 FY15 Avg Revenue/FTE $29.3k up from $25.1k
 Capacity unchanged at 3,760
FY15 Revenue
$82.6m from $68.8m +19.9%
FY15 Adj. EBITDA
$25.8m from $23.2m +11.6%
2,742 2,816
Average FTEs
FY14 FY15
Financial Performance
The British Schoolof Chicago South Loop (Chicago, Illinois, U.S.A.)

14. Twelve Months Ended
August 31,
($ millions) 2015 2014
Cash generated from operations 167.6 124.3
Payment of bond redemption
expenses and commitment fees
(10.0) (77.0)
Interest paid (31.2) (73.4)
Tax paid (19.9) (25.2)
Net cash generated from / (used
in) operating activities
106.5 (51.3)
Net cash used in investing
activities
(709.6) (87.3)
Net cash from financing
activities
680.6 133.7
Net increase / (decrease) in cash
and cash equivalents
77.5 (4.9)
Cash and cash equivalents at
end of the period
226.3 166.2
14
Balance sheet & cash flow
 Q4FY15 Net Debt $926.0m1
 LTM Q4FY15 PF Vietnam + Meritas Net
Leverage2 4.3x down from 5.2x LTM Q2FY15
PF Vietnam + Meritas
 Negative EBITDA impact from FX and loss
making start-up schools in Aubonne and
Dubai
Deleveraging profile
5.2x 4.9x
4.3x
LTM Q2FY15 PF LTM Q3FY15 PF LTM Q4FY15 PF
Net Leverage
1 Net debt calculated as the principal debt outstanding including capital leases less cash (net of overdraft)
2 LTM Q4FY15 Adjusted EBITDA pro forma Meritas, Vietnam and Cambodia $213.4m
Highlights Summary cash flow

15. Outlook
15

16. 20*Current FTEs as of November 15, 2015
Strong year on year starting enrollment
growth of 73% and further progress in year
Europe
North AmericaMiddle East /
South East Asia
China
4,797
5,107
5,727 5,752
Sep-13 Sep-14 Sep-15 Current
4,494 4,568
6,456 6,492
Sep-13 Sep-14 Sep-15 Current
4,843
7,292
12,559 12,630
x Sep-14 Sep-15 Current
2,700
2,773
9,435 9,440
Sep-13 Sep-14 Sep-15 Current
16
7,240
19,740
34,177 34,314
Sep-13 Sep-14 Sep-15 Current
NORD GroupTotal

17. 17
The Company is reiterating its outlook for the full
fiscal year 2016 below:
Outlook for Fiscal 2016
Fiscal 2016 Guidance
Revenue $850 - $870m
Adjusted EBITDA $215 - $225m
Adjusted Net Income $70 - $75m
Adjusted EPS1 $0.67 - $0.72
1 Diluted weighted average shares of approximately 104.5 million

18. 18
Capital Allocation Strategy

19. Our capital allocation strategy
19
Same school
expansion Greenfields Acquisitions
 Lowest risk with in-market
demand visibility
 Developer funded preferred
 1-2 years to breakeven
 1-4 years payback period
 3-6 years to maturity
 Target ROI 50%+
 Developer funded preferred
 Enhances value of surrounding
real estate
 Target ROI 70%+
 Time to breakeven, payback &
maturity varies by market
 Low-risk market entry
 Buyer of choice in highly
fragmented market
 Clear plan pre-acquisition to
improve profitability
Total investment 1-2x EBITDA
at maturity
Total investment 1-2x EBITDA
at maturity
7-10x EBITDA multiple
Reduced to 3-5x after 3-4 years

20. Greenfield opportunities generate the highest returns
20
Lower Higher
HigherLower
Growth
Margin
3-4 years to breakeven2 6-
8 years to maturity3
e.g. Aubonne (opened
Sept 2014)
1-2 years to breakeven2
3-4 years to maturity3
e.g. Shanghai (opened
Sept 2005)
4-5 years to breakeven2
7-10 years to maturity3
Not a strategic fit
2-3 years to breakeven2
3-5 years to maturity3
e.g. Dubai (opened Sept
2014)
Key factors :
 Market growth
 Supply/demand dynamics
 EBITDA margin at maturity
 average breakeven
utilization – c.30-35%
 average margin of
NORD schools at
maturity – c.33%
1 ROI calculated as net cashflow at maturity divided by total capital investment.
2 Breakeven means cashflow positive.
3 Maturity means 80% utilization.
Target ROI1 70+%

21. Capital expected to be deployed in fiscal 2016
21
Expansion of c.1,400 seats
expected including:
 Hong Kong
 Guangzhou
 Madrid
 Singapore
 Geneva
 Warsaw
 Miami
 Houston (Village)
 Budapest
 Bratislava
 Completion capex on 1,100
seat Chicago South Loop
campus opened Sept 2015
(c.$1.4m)
 2,000 seat Houston
campus for Sept 2016
(c.$7.0m)
 2,250 seat dual-curriculum
school Shanghai for Sept
2016 (c.$31.1m)
 Intial capex on new 1,500
seat Bangkok campus for
Sept 2017 (c.$1.0m)
Active pipeline:
 Large fragmented market
 Opportunities vary in size –
tuck-ins, small groups
 Disciplined around price
FY16 expected same school
expansion capex c.$27.3m
FY16 expected greenfield
capex c.$40.5m
Target to deploy remaining
available capital
Same school
expansion Greenfields Acquisitions

22. Available capital in fiscal 2016
22
LESS
PLUS
IFRS cash generated from operations
= 108%1 Adjusted EBITDA(midpoint of guidance
$220m) (c.$237m)
CashTaxes (c.20m)2
Cash Net Interest (c.$57m)3
Capex ($110m)4: maintenance ($28m),
acquisition catch up ($10m), one-off
projects ($3m), same school expansion &
greenfields ($68m)
Net proceeds from planned Sale &
Leaseback (c.$175m)
1 Average percentage FY12-FY15
2 Fiscal 2016 expected effective tax rate 28.5%
3 Fiscal 2016 expected interest expense net of expected non-cash interest expense
4 Fiscal 2016 expected capital expenditure
Plus additional debt capacity up to net leverage ≤ 4.0x
LESS
c.$225m
available for
acquisitions
in FY16

23. 23
Appendix

24. Our school network
24
Existing Under construction
NORTH AMERICA
The British International School of Charlotte
British International School of Boston
British International School of Houston
(new campus to open September 2016)
British International School of Washington
Nord Anglia International School, New York
British International School of Chicago, Lincoln Park
British International School of Chicago, South Loop
North Broward Preparatory School
Windermere Preparatory School
The Village School
San Roberto International School
CHINA
The British School of Beijing, Sanlitun
The British School of Beijing, Shunyi
The British School of Guangzhou
Nord Anglia International School Shanghai, Pudong
The British International School Shanghai, Puxi
Nord Anglia Bilingual School Shanghai (new
greenfield to open September 2016)
Nord Anglia International School Hong Kong
Léman International School, Chengdu
Nord Anglia International School, Al Khor
Compass International School Doha, Rayyan
Compass International School Doha, Gharaffa
Compass International School Doha, Madinat Khalifa
The British International School Abu Dhabi
Nord Anglia International School Dubai
MIDDLE EAST
SOUTHEAST ASIA
Regents International School Pattaya
St Andrews International School Bangkok
Northbridge International School Cambodia
Dover Court International School Singapore
British International School, Hanoi
British Vietnamese International School, Hanoi
British International School, Ho Chi Minh City
British Vietnamese International School, Ho Chi Minh City
Collège Beau Soleil, Villars-Sur-Ollon
Collège Champittet, Nyon
Collège Champittet, Pully
International College Spain
La Côte International School, Aubonne
The British International School Bratislava
The British International School Budapest
The British School Warsaw
The English International School Prague
Collège du Léman
EUROPE

25. 25
Our path to becoming the world’s leading premium schools organization
Listed on the main
board London
Stock Exchange
Nord Anglia
Education
founded
Opened first
school
Warsaw, Poland
Acquired new
schools in SE Asia
Singapore and
Cambodia
Taken private by
Baring Private
Equity Asia
Andrew
Fitzmaurice
joins as CEO
Market cap: $40mm
pre-appointment
Opened first
school in China
Pudong,
Shanghai
Acquired four
schools in
Switzerland
Acquired first
school in SE Asia
Pattaya,
Thailand
Opened first
school in the
Middle East
Abu Dhabi, UAE
1972 1992 2002 2009 2012 20141989 2003 2008 2011 2013
Acquired WCL
Group (11
Schools)
Listed on the
NYSE
Opened three new
greenfields
Hong Kong, Dubai and
Aubonne, Switzerland
New
greenfield
Chicago, USA
2015 2016
Acquired four
schools in Vietnam
Ho Chi Minh City and
Hanoi
Acquired six Meritas
schools
New
greenfield
Houston, USA
1 Pro forma for the acquisition of WCL.
4,010 4,282 6,166 7,054 8,180
14,378 17,313
34,314
Aug 31, 2008 FY09 FY10 FY11 FY12 FY13PF FY14 Nov 15, 2015
Student enrollment
No. of
schools:
6 6 9 12 13 25 31 42
1

26. 27
Consolidated income statement
*Please referto the footnotes and other information on our report on Form 6-K furnished to the SEC on November16, 2015.
Three Months Ended
August 31.
Twelve Months Ended
August 31,
$ millions, except share data 2015 2014 2015 2014
(unaudited) (unaudited) (unaudited)
Revenue 88.7 64.1 577.0 474.6
Cost of sales (62.2) (43.3) (352.6) (280.3)
Gross profit 26.5 20.8 224.4 194.3
Selling, general & administrative expenses (38.5) (27.9) (125.1) (92.9)
Depreciation (0.2) (0.9) (0.7) (2.0)
Amortization (2.2) (3.1) (13.7) (10.4)
Other losses (3.0) - (3.0) -
Exceptional expenses (15.6) (3.4) (20.1) (100.2)
Total expenses (59.5) (35.3) (162.6) (205.5)
Operating (loss) / profit (33.0) (14.5) 61.8 (11.2)
Finance income 1.1 0.6 2.8 2.0
Finance expense (15.7) (7.7) (39.7) (55.5)
Net finance expense (14.6) (7.1) (36.9) (53.5)
(Loss)/profit before income tax (47.6) (21.6) 24.9 (64.7)
Income tax credit/(expense) 7.0 (3.0) (12.9) (25.7)
(Loss)/profit for the period (40.6) (24.6) 12.0 (90.4)
(Loss)/profit attributable to:
Owners of the parent (41.1) (24.6) 10.8 (90.4)
Non-controlling interest 0.5 - 1.2 -
(Loss)/profit for the period (40.6) (24.6) 12.0 (90.4)
(Loss)/earnings per ordinary share (in dollars)
Basic (0.40) (0.25) 0.11 (1.07)
Diluted (0.40) (0.25) 0.11 (1.07)

27. 28
Key operating data
Three Months Ended
August 31,
Twelve Months Ended
August 31,
2015 2014 2015 2014
Full-time equivalent students (average for the
period)
China 5,290 4,820 5,228 4,827
Europe 4,668 4,535 4,624 4,514
Middle East/South East Asia 11,141 6,029 9,618 5,230
North America 2,857 2,770 2,816 2,742
Total 23,956 18,154 22,286 17,313
Capacity (average for the period)
China 7,756 6,964 7,756 6,964
Europe 6,084 5,322 6,084 5,322
Middle East/South East Asia 16,939 6,891 13,758 5,961
North America 3,760 3,760 3,760 3,760
Total 34,539 22,937 31,358 22,007
*Please referto the footnotes and other information on our report on Form 6-K furnished to the SEC on November16, 2015.

28. 29
Key operating data continued
Three Months Ended
August 31,
Twelve Months Ended
August 31,
2015 2014 2015 2014
Utilization (average for the period)
China 68% 69% 67% 69%
Europe 77% 85% 76% 85%
Middle East/South East Asia 66% 87% 70% 88%
North America 76% 74% 75% 73%
Total 69% 79% 71% 79%
Revenue per FTE (in $ thousands)
China 4.3 4.3 35.0 34.3
Europe 4.0 3.5 28.8 30.1
Middle East/South East Asia 2.2 2.5 17.1 16.4
North America 6.3 2.7 29.3 25.1
Total 3.5 3.3 25.3 26.4
*Please referto the footnotes and other information on our report on Form 6-K furnished to the SEC on November16, 2015.

29. 30
Supplemental financial data
Three Months Ended
August 31,
% Variance
$ millions
2015 2014 Reported
Constant
Currency
(unaudited) (unaudited)
Revenue (segment)
Premium Schools
China 22.9 20.9 9.9% 10.0%
Europe 18.5 16.0 15.6% 25.1%
ME/SEA 24.7 14.9 65.3% 71.0%
North America 18.0 7.6 136.8% 136.8%
Total Premium Schools 84.1 59.4 41.6% 45.8%
Other 4.6 4.7 (2.1)% 4.4%
Total Revenue 88.7 64.1 38.4% 42.9%
Adjusted EBITDA (segment)
Premium Schools
China 7.6 7.5 1.9% 1.9%
Europe (6.1) (1.8) (248.3)% (298.5)%
ME/SEA 1.2 2.3 (47.8)% (46.9)%
North America 2.6 (0.2) 1938.2% 1937.7%
Total Premium Schools 5.3 7.8 (33.5)% (34.9)%
Other 0.4 1.3 (60.4)% (58.4)%
Central and regional expenses (9.3) (7.9) (18.1)% (20.5)%
Adjusted EBITDA (3.6) 1.2 (392.3)% (338.3)%
*Please referto the footnotes and other information on our report on Form 6-K furnished to the SEC on November16, 2015.

30. 31
Supplemental financial data continued
Twelve Months Ended
August 31,
% Variance
$ millions
2015 2014 Reported
Constant
Currency
(unaudited)
Revenue (segment)
Premium Schools
China 183.2 165.6 10.7% 11.3%
Europe 133.3 136.0 (1.9)% 8.7%
ME/SEA 164.1 86.0 90.8% 92.7%
North America 82.6 68.8 19.9% 19.9%
Total Premium Schools 563.2 456.4 23.4% 27.6%
Other 13.8 18.2 (24.0)% (28.9)%
Total Revenue 577.0 474.6 21.6% 25.2%
Adjusted EBITDA (segment)
Premium Schools
China 85.0 78.4 8.3% 9.1%
Europe 17.1 26.0 (34.1)% (28.6)%
ME/SEA 39.6 22.2 77.9% 78.8%
North America 25.8 23.2 11.6% 11.6%
Total Premium Schools 167.5 149.8 11.8% 13.8%
Other 1.5 4.0 (60.9)% (59.1)%
Central and regional expenses (30.7) (26.4) 16.3% 21.6%
Adjusted EBITDA 138.3 127.4 8.6% 10.1%
*Please referto the footnotes and other information on our report on Form 6-K furnished to the SEC on November16, 2015.

31. 32
Reconciliation of non-GAAP financial data
Three Months Ended
August 31,
Twelve Months Ended
August 31,
$ millions 2015 2014 2015 2014
(unaudited) (unaudited) (unaudited)
Revenue 88.7 64.1 577.0 474.6
Cost of Sales (62.2) (43.3) (352.6) (280.3)
Rent Premium Schools 13.7 9.8 53.0 44.4
Depreciation Premium Schools 11.7 4.9 33.9 21.4
Adjusted Cost of Sales (36.8) (28.6) (265.7) (214.5)
Adjusted Gross Profit 51.9 35.5 311.3 260.1
Profit/(loss) the period (40.6) (24.6) 12.0 (90.4)
Income tax (credit)/expense (7.0) 3.0 12.9 25.7
Net financing expense 14.6 7.1 36.9 53.5
Exceptional items 15.6 3.4 20.1 100.2
Other losses 3.0 - 3.0 -
Amortization 2.2 3.1 13.7 10.4
Depreciation 0.2 0.9 0.7 2.0
Depreciation in Cost of Sales 11.7 4.9 33.9 21.4
EBITDA (0.3) (2.2) 133.2 122.8
(Gain)/loss on disposal of PP&E (0.1) - 0.3 -
FX (gain)/loss (8.3) (1.3) (3.9) (4.0)
Share based payments 0.7 0.6 2.8 3.1
Management fees – Sponsor - - - 1.2
Greenfield pre-opening costs 3.4 4.1 3.4 4.1
Rollout of Juilliard program 0.4 - 0.7 -
China expat taxes 0.0 - 1.1 -
Other 0.6 0.0 0.7 0.2
Adjusted EBITDA (3.6) 1.2 138.3 127.4
*Please referto the footnotes and other information on our report on Form 6-K furnished to the SEC on November16, 2015.

32. 33
Reconciliation of non-GAAP financial data continued
Three Months Ended
August 31,
Twelve Months Ended
August 31,
$ millions 2015 2014 2015 2014
(unaudited) (unaudited) (unaudited)
Adjusted EBITDA (3.6) 1.2 138.3 127.4
Depreciation (11.9) (5.8) (34.6) (23.4)
Net financing expense (14.6) (7.1) (36.9) (53.5)
Income tax (credit)/expense 7.0 (3.0) (12.9) (25.7)
Tax adjustments 0.6 (0.5) (6.1) (2.0)
Non-controlling interest (0.5) - (1.2) -
Adjusted Net (Loss)/Income (23.0) (15.2) 46.6 22.8
Adjusted (Loss)/earnings per ordinary share (in
dollars)
Basic (0.22) (0.16) 0.48 0.27
Diluted (0.22) (0.16) 0.47 0.27
*Please referto the footnotes and other information on our report on Form 6-K furnished to the SEC on November16, 2015.

33. Thank you.
www.nordangliaeducation.com