Announcement PDF ASX Announcement ASX Code: NDO 2025 Half Year Financial & Operational Results 27 August 2025 Nido Education Limited (ASX: NDO) (Nido or Company) is pleased to announce its half year financial and operational results for the period ended 30 June 2025. Group performance summary In the first half, Nido’s Service EBITDA increased by 8% to $12.8m, and we maintained our EBITDA per Service run rate of $229k. We made the decision early in the year to invest in evolving our service offering and corporate and Service support. This has increased our Support office costs by $1.8m pcp. Nido has delivered an EBITDA pre-AASB16 of $6.6m, down $0.9m pcp and a Net Profit After Tax of $4.6m, down $0.9m pcp, against a group revenue of $82.7m. Reflecting the strength of our balance sheet and our disciplined approach to capital management, the Board has determined an interim dividend of 1.5 cents per share, fully franked. This is consistent with our commitment to deliver sustainable returns to shareholders while continuing to invest in the growth of the business. This result was delivered to the backdrop of supressed occupancy across the sector, due to cost-of-living, flat population growth and increased supply. ASX Announcement - Nido Education Limited ABN 12 650 967 703 Based on cost-of-living pressures we chose not to increase our average fees in January 2025 for the benefit of our families. We believe this impacted our HY2025 EBITDA in the order of $3m. Results Figures and calculations used in this report exclude the impact of non-cash lease costs under AASB 16 – refer to reconciliation in Appendix II of the Nido Investor presentation * Figures are stated pre-AASB 16 1. Interim dividend yield as at 26 August 2025 (closing price of 74 cents per share) 2. First half cash flow adjusted for Workers Retention Grant payment of $5.8m which was received mid-July 2025 Dividend The board is pleased to announce an interim dividend reflecting Nido’s strong balance sheet. Dividend of 1.5 cents per share Franking: 100% Record Date: 5 September 2025 Payment Date: 16 September 2025 ASX Announcement - Nido Education Limited ABN 12 650 967 703 2 Group performance detail Group performance* ($m) HY 2025 HY 2024 Service revenue 79.5 73.7 5.8 8% Establishment and management fees 3.3 3.2 0.1 3% Group revenue 82.8 76.9 5.9 8% Service EBITDA* 12.8 11.9 0.9 8% Support office costs (net) (6.2) (4.4) (1.8) (41%) EBITDA* 6.6 7.5 (0.9) (12%) Depreciation (0.41) (0.45) 0.04 9% Net finance costs (0.22) (0.24) 0.02 8% Profit before tax* 6.0 6.8 (0.8) (12%) Tax (expense)/benefit (1.4) (1.3) (0.1) (8%) Net Profit after Tax* 4.6 5.5 (0.9) (17%) * Change Figures are stated pre-AASB16 Service performance Nido has delivered a modest increase in Service revenue for the half year to $79.5m representing an increase of 8% pcp, with a Service EBITDA preAASB16 improvement to $12.8m. We’ve held EBITDA pre-AASB16 at $229k per service and our margin at 16%. Despite a small decrease in like for like occupancy1 pcp, we have seen a modest increase in our fees. We have been able to realise sustained productivity and efficiency benefits and improve our wage to revenue position during the half year. ASX Announcement - Nido Education Limited ABN 12 650 967 703 3 Service performance1 ($m) HY 2025 HY 2024 Service revenue 77.9 72.2 5.7 8% Other Service revenue 1.6 1.5 0.1 7% Total Service revenue 79.5 73.7 5.8 8% Service costs (66.7) (61.8) (4.9) (8%) Service EBITDA 12.8 11.9 0.9 8% Half year EBITDA % 16% 16% Average HY Service EBITDA ($’000) 229 229 Days of learning ('000) 453 461 $172 157 2 Average daily fee ($) Change 1. Like for like does not include staff discounted days of learning 2. Average daily fee is net of discounts and has been impacted by reducing employee discount from 95% to 50% Half Year 2025 Overview Whilst it has been a challenging market, Nido has demonstrated resilience and agility, and made disciplined investments into evolving our business. We’ve made strategic investments into evolving our service offering, including our curriculum, menu, facilities and risk and compliance, and our corporate and Service support capabilities. These investments position us well for growth. Investor briefing call Shareholders are invited to participate in a conference call briefing in relation to the Company’s 2025 half year financial and operational results. ASX Announcement - Nido Education Limited ABN 12 650 967 703 4 Details of the conference call are as follows: Date and time: Thursday, 28 August 2025 at 11.00am (Sydney time) Participant details: All participants must pre-register to join this conference call using the Participant Registration link below. Participant Registration Site: Please click here to register Accompanying this announcement is the Nido Investor Presentation in relation to the half year financial and operational results for the period ended 30 June 2025. -EndsThis ASX announcement was authorised for release by the Board of Nido Education Limited. Investor & Media enquiries Adam Lai Chief Executive Officer and Executive Director P: 02 9712 7444 E: ir@nido.edu.au About Nido Founded in 2021, Nido Education Limited is a national owner, operator and manager of long day early childhood education and care services, operating under the Nido Early School brand. Visit: www.nidoeducation.edu.au Stay connected with Nido by joining our Investor Hub where you will receive ASX announcements and Company updates directly in your inbox and can engage with our interactive Q&A feature. Scan the QR code or visit here to sign up: https://nidoeducation.edu.au/s/3307cc. ASX Announcement - Nido Education Limited ABN 12 650 967 703 5 2025 Half Year Results Nido Education Limited (ASX: NDO) 27 August 2025 Disclaimer This presentation has been prepared by Nido Education Limited ACN 650 967 703 (Nido) (ASX code: NDO) in relation to its financial and operational results for the half year ended 30 June 2025 and is for personal use only. Information presented in the presentation is on an aggregate basis, reflecting the Nido group of entities. It contains general information in summary form which is current as of 27 August 2025 and does not purport to be complete and should be read in conjunction with Nido's other periodic and continuous disclosure announcements which are available on Nido's website at nidoeducation.edu.au/announcements. This presentation is not a recommendation or advice in relation to NDO. No representation or warranty, express or implied, is made as to the fairness, accuracy, completeness or correctness of the information, opinions and conclusions contained in this presentation. To the maximum extent permitted by law, Nido, its affiliates and related bodies corporate, and their respective officers, Directors, employees and agents disclaim any liability (including, without limitation, any liability arising from fault or negligence) for any loss arising from any use of this presentation (or its content) or otherwise arising in connection with it. Nido’s forward-looking statements set out in this presentation are based on a number of estimates, assumptions and pro forma adjustments that are subject to business, economic and competitive uncertainties and contingencies, with respect to future business decisions, Nido Education Limited (ASX:NDO) 2025 Half Year Results which are subject to change and, in many cases, are outside the control of Nido and its Directors. Nido believes that the forward-looking statements have been prepared with due care and attention and considers all best estimate assumptions, when taken as a whole, to be reasonable at the time of preparing this presentation. However, the forward-looking statements presented in this presentation may vary from actual financial results. These variations may be material and, accordingly, neither Nido nor its Directors give any assurance that the performance in the forward-looking statements contained in this presentation will be achieved. This presentation is not and does not constitute an offer, invitation or recommendation to subscribe for, or purchase any security and neither this presentation nor anything contained in it shall form the basis of any contract or commitment. It is not intended to be relied upon as advice to investors or potential investors and does not contain all information relevant or necessary for an investment decision. All references to dollars ($) are to Australian dollars, unless otherwise stated. This presentation may not be reproduced or published, in whole or in part, for any purpose without the prior written consent of Nido. This presentation is authorised for release by the Board of Nido Education Limited. 2 Our purpose “To create an environment that supports teachers to rise and make a positive impact on the lives of children.” Today’s Presenters Adam Lai Tom Herring Chief Financial Officer Mathew Edwards Chief Executive Officer and Executive Director Nadia Wilson-Ali Joined Nido as Chief Executive Officer in February 2025 Joined Nido as Chief Financial Officer in April 2021 Joined the Nido family in 2018 Appointed Executive Director from August 2025 Previously held CFO and senior Finance roles across a range of publicly listed and private companies, in a diverse range of sectors Founded Nido Education Limited following the sale of the listed Think Childcare Limited (TNK) in 2021 Extensive experience leading customer-focused, people-driven growth and transformation Nido Education Limited (ASX:NDO) 2025 Half Year Results Head of Education and Professional Development Leads the development of Nido’s birth to three and kindergarten curricula Managing Director Broad experience leading programs that support educator growth and children’s learning 4 Contents 1 Executive Summary 2 Service Performance 3 2025 Half year results 4 Incubation 5 Looking ahead Nido Education Limited (ASX:NDO) 2025 Half Year Results 01 Executive Summary Nido Education Limited (ASX:NDO) 2025 Half Year Results Executive Summary Our educators have delivered over 450k days of learning for children and their families Demonstrated resilience and agility in a challenging market Evolving our Service offering and support Well positioned to continue growing our impact for children and educators 1 • Nido Service EBITDA for the first half has increased by 8% to $12.8m and we’ve maintained our EBITDA per Service run rate of $229k • Occupancy levels are subdued across the sector: cost-of-living pressures, cyclical birth rate trends, working from home and increased supply in some locations • Whilst occupancy is ~3% down pcp on a like for like1 basis, we have maintained a strong fee, realised sustainable productivity and efficiency improvements • Strong balance sheet allows us to grow through acquisition and pay a fully franked interim dividend of 1.5 cents per share • This half we have invested in evolving our Service offering • We have developed our corporate and Service support in Executive Leadership, Safety and Compliance, Marketing and Brand, and our People • We are very well positioned to grow our impact for children, families, our educators and the community • We’ve built a strong foundation as we move into 2H FY25 • We are actively progressing a pipeline of over 100 Services to deliver sustained growth for Nido Adjusting for impact of staff discount changes on 1 July 2024, as previously disclosed Nido Education Limited (ASX:NDO) 2025 Half Year Results 7 02 Service Performance Nido Education Limited (ASX:NDO) 2025 Half Year Results Service EBITDA 8% increase in Service revenue and Service EBITDA driven by sustained performance Service performance1 ($m) HY 2025 HY 2024 Service revenue 77.9 72.2 5.7 8% Other Service revenue 1.6 1.5 0.1 7% Total Service revenue 79.5 73.7 5.8 8% Service costs (66.7) (61.8) (4.9) (8%) Service EBITDA 12.8 11.9 0.9 8% Half year EBITDA % 16% 16% Average HY Service EBITDA ($’000) 229 229 Days of learning ('000) 453 461 Average daily fee2($) 172 157 Wage to revenue ratio 57% 59% 1 2 Change • 8% increase in Service revenue and Service EBITDA driven by sustained performance of existing Services and contribution of the four Services acquired in September 2024 • Based on cost-of-living pressures we chose not to increase the average fee in January 2025. We believe this impacted our EBITDA in the order of $3m • We have, in July, increased fees in the order of 4% Figures are stated pre-AASB 16 Average daily fee is net of discounts and has been impacted by reducing employee discount from 95% to 50% Nido Education Limited (ASX:NDO) 2025 Half Year Results 9 Sector Update: 1H FY25 Nido’s Service results were driven to the backdrop of a challenging FY25 Themes from the first half It’s been a challenging year for demand across the industry • Anecdotal evidence suggests demand has been challenged across the industry, including enquiries and enrolments • Flat population growth, cost of living and working from home practices have combined • Increased supply in some locations Sector and community focus on Child Safety • Abhorrent crimes and high-profile coverage of safety concerns in the media • Heightened concerns for child safety and protection • Welcomed reforms to be implemented • Workforce incomes have increased steadily with award increases and the payment of the government funded Worker Retention Grant • Appears to be supporting across the board stability and an increase in workforce participation Stabilisation of workforce Nido Education Limited (ASX:NDO) 2025 Half Year Results 10 Sector Update: Looking ahead We see the sector outlook improving into FY26, which justifies our investment in our Service offering and support capability Incoming Perspectives (2026) Implications for 1H FY25 1. Introduction of 3-day guarantee, replacing activity test • Government’s child care subsidy currently has a means test (family income) and an activity test (approved activity, including work or study a family is doing) • This is replaced by a guaranteed 3 days per week of support from January 2026 increasing access to subsidies 2. Favourable trading conditions • Cost of living factors including reduced inflation, interest rate cuts Invested in our offering (page 12) Invested in our Service support and corporate capabilities (page 13) 3. Strengthening child protection & safety • Nido welcomes the measures the government is taking and intending to take to strengthen child protection & safety Nido Education Limited (ASX:NDO) 2025 Half Year Results 11 Investment in our offering Nido committed to evolving our offering for the benefit of children and families Our new curriculum • The Nido Kindergarten Curriculum is a thoughtfully developed framework that inspires and supports the learning journey of Nido children aged 3-6 years • Shaped by the voices of almost 1,000 children, families, educators, and community members over 3 years, it represents a shared vision of meaningful learning and growth • In 1H FY25, practice guides, communities of practice, and online learning modules were introduced to support implementation, strengthen teacher capacity, and shared understanding Quality and compliance, including our Service leadership model Executive Service • Our Risk and Compliance focus from January Manager 2025 included ongoing policy, procedure, training and communication continuous improvement • Our Nido leadership triangle is a unique investment into quality and supervision Curriculum Family • We have implemented the role of Family Leader Advocate Advocate in every Service Nido Education Limited (ASX:NDO) 2025 Half Year Results Our new Nido menu • We have launched our new menu, to be prepared by our cooks in our onsite kitchens and served in our dedicated Cucina areas • Created in partnership with a Nutritionist, after extensive feedback from our Chefs, Educators, and families and assessed by a Dietitian Nido Design Specification evolution • We have evolved the Nido Design Specification to enhance learning outcomes, quality, safety and inclusion • This extends from the physical design of our spaces, furniture, fixtures and educational resources 12 Investment in Corporate and Support Capability We have strategically and purposely invested in our Support Office so we are fit for growth # Area 1 Executive and Senior management 2 Education quality 3 Child safety and compliance 4 People leadership and support 5 Enquiry generation and Brand Description • We have invested in the Executive Team with the appointment of Adam Lai as CEO and Victoria Lown as Chief Marketing and Experience Officer • We have evaluated our operating model and are making changes that will enable us to deliver our strategy in a tighter competitive environment Desired Impact • • • • System and process improvements aligned to scale, simplification and risk Improved retention of key personnel Succession planning Increased supervision of Services to ensure consistent quality and performance • Improved ability to implement initiatives key to maintaining Nido’s quality • We have developed a new curriculum, new menu and continue to evolve our offering • Consistent delivery of Nido’s quality and curriculum • Improved level of school readiness for children and families • Higher child and family satisfaction • We continue to strengthen our policies, procedures, reporting and controls • Improved child protection and safety • Reduced risk • We have invested in the leadership of our people through People and Quality Leaders • • • • Higher employee and customer satisfaction Higher retention levels – increasing the stability of staffing at our Services Enhanced learning and career development Consistent delivery of the Nido offering across our portfolio • We have invested to build marketing and communications capability, including our people and systems, to enhance local area marketing and digital ahead of 2026 reenrolments and changes to the Activity Test • • • • • Higher enquiries and days of learning Improved ability to target specific customer segments Improved partnering with our Service leadership Differentiation from local competition Positive impact on our People and culture • We have completed a review of the Nido brand and will roll out in the second half to improve the communication and understanding of Nido’s offering Nido Education Limited (ASX:NDO) 2025 Half Year Results 13 Sector regulatory changes We have already implemented a number of changes that are coming to the industry • The Government will introduce regulations to protect children and their safety. Reform will require both changes to operator practices and changes to the regulatory regime itself • Nido has a dedicated Risk and Compliance function that supports the Services to maintain compliance to emerging regulatory changes. The team: 1. Scan and engage 2. Identify and assess change impact 3. Implement changes 4. Monitor 5. Continuously improve • A number of the proposed changes to operator practices are already embedded at Nido Nido Education Limited (ASX:NDO) 2025 Half Year Results Highlight of some proposed changes Nido’s current approach CCTV Trial Already implemented in all Nido owned Services’ yards Banning personal digital devices in the classroom Already banned in Nido A ban on vaping Already banned in Nido Introduction of the National Model code Already adopted at Nido 14 03 2025 half year results Nido Education Limited (ASX:NDO) 2025 Half Year Results First Half 2025 Group Performance Financial performance Interim Dividend Capital ↑ Revenue Interim Dividend Cash conversion2 8% from HY2024 Per share ($9.2m-$2.8m) / $6.6m = 97% ↓ EBITDA* Interim Yield Net Leverage Ratio2 from $7.5m in HY2024 on current share price1 $10.9m / $21.0m* = 0.5x ↓ NPAT* Franking Acquisition facility available $82.8m $6.6m $4.6m from $5.5m in HY2024 1.5c 2.0% 100% 97% 0.5x $34m includes $30m Accordion Note: Figures and calculations used in this report exclude the impact of non-cash lease costs under AASB 16 – refer to reconciliation in Appendix II * Figures are stated pre-AASB 16 1. Interim dividend yield as at 26 August 2025 (closing price of 74 cents per share) 2. First half cash flow adjusted for Workers Retention Grant payment of $5.8m which was received mid-July 2025 Nido Education Limited (ASX:NDO) 2025 Half Year Results 16 Profit and Loss Group performance* ($m) HY 2025 HY 2024 Change Service revenue 79.5 73.7 5.8 8% Franked Dividend 1.5c Establishment and management fees 3.3 3.2 0.1 3% Franking Credit 0.64c Group revenue 82.8 76.9 5.9 8% Total (gross) 2.14c Service EBITDA* 12.8 11.9 0.9 8% Interim Yield1 2.0% Support office costs (net) (6.2) (4.4) (1.8) (41%) EBITDA* 6.6 7.5 (0.9) (12%) Depreciation (0.41) (0.45) 0.04 9% Franking: 100% Net finance costs (0.22) (0.24) 0.02 8% Record Date: 5 September 2025 Profit before tax* 6.0 6.8 (0.8) (12%) Tax (expense)/benefit (1.4) (1.3) (0.1) (8%) Payment Date: 16 September 2025 Net Profit after Tax* 4.6 5.5 (0.9) (17%) Dividend HY 2025 Dividend of 1.5 cents per security 1 Based on share price at 26 August 2025 2 Support office costs are stated net of establishment and management fees * Figures are stated pre-AASB 16 Nido Education Limited (ASX:NDO) 2025 Half Year Results 17 Capital management Debt summary ($m) Cash 30 June 2025 1 10.1 Facility A - Limit 25.0 Facility A - Drawn (21.0) Available – Facility A 4.0 Available – Accordion 2 30.0 Total debt available 34.0 1 10.9 Net Debt Net Leverage Ratio 3 Interest Cover Ratio LTM 1. 2. 3. 0.5x 3 24.0x A strong cash conversion rate of approximately 97% has enabled a share buy back of $0.4m in the first half and will fund the payment of the 1.5 cent per share interim dividend Drawn debt of $21m comprises $11m drawn for September 2024 acquisitions and $10m representing the remaining portion of debt drawn at IPO We are fully funded for near-medium term acquisitions with $34m of debt available with our Net Leverage Ratio being well below our low long-term expectation of approximately 1.5x First half cashflow adjusted for Workers Retention Grant payment of $5.8m which was received mid July 2025 ($4.3m +$5.8m =10.1m) The accordion is a debt facility with pre-agreed terms that will be established, subject to credit approval when required Net Leverage Ratio is calculated as Net Debt / LTM EBITDA* and Interest Cover Ratio is calculated as LTM EBITDA* / LTM Interest costs Nido Education Limited (ASX:NDO) 2025 Half Year Results 18 04 Incubation Nido Education Limited (ASX:NDO) 2025 Half Year Results Mandurah WA Nido's Unique Growth Model Incubation mitigates risks associated with growth through typical roll up or greenfield strategies Summary of Incubation model Incubation gives Nido the ability to acquire proven profitable Services that are purpose built with all locations approved by Nido Nido’s growth comes at a multiple of 4.5x EBIT with an earn out and claw back of up to 10% of the capital invested, further de-risking the acquisition All the Services are purpose built and managed by Nido from day one, ensuring consistency in the quality and no integration risk post-acquisition Phases of Incubation 1 2 3 4 5 Nido sources and evaluates the site, presents it to the Incubator for approval and negotiates commercial terms The Incubator assesses and approves site, entering into an agreement for lease and lease agreement – taking on ownership and funding requirements Nido undertakes all the work required to prepare the site for licencing and opens the Service. The Incubator pays Nido $257k establishment fee upon opening Nido manages all operational aspects of the Service day to day for a management fee of $123k per year. Nido reports to the Incubator through business intelligence dashboards, giving it full operational visibility Nido exercises its call option to acquire at 4.5x EBIT once performance metrics are achieved, with earn out or claw back settled twelve months post-acquisition Visit www.nidoeducation.edu.au for more information on Incubation Nido Education Limited (ASX:NDO) 2025 Half Year Results 20 Incubation model Providing consistent growth of purpose-built Services Incubation strategy Purpose built Consistent growth Nido has developed a greenfield incubation strategy to mitigate risks associated with the traditional roll up approach All Nido’s Early Schools are designed by Nido and managed by Nido from site selection through to acquisition Nido has access to a de-risked acquisition pipeline of 100+ Nido Services over the next five years • • Services are built to be best in their markets • Proven performance Services acquired at 4.5x EBIT • The owned portfolio is relatively new with the older Services opened in 2019 • Acquiring at circa 80% occupancy • Built with quality and longevity in mind (30+ year leases, including renewal options) • • A third-party incubator initially owns the Service, funds the development and trade up losses Nido manages the development and day-to-day operations Once acquisition performance hurdles are met, Nido has a 12month option to acquire Nido Education Limited (ASX:NDO) 2025 Half Year Results 21 New Services Highlights of five new Services opened this year Swan View (June) Mandogalup (April) Hilbert (February) Nido Education Limited (ASX:NDO) 2025 Half Year Results Mandurah (August) Clyde North (August) 22 Platform for growth Owned and Managed Services (#) Oct 23 Jun 24 Dec 24 Aug 25 Dec 25 Actual Actual Actual Actual Estimate Nido owned 52 52 56 57 60 Managed for a 3rd party 34 34 34 34 34 Incubated Services 9 13 12 16 18 Total 95 99 102 107 112 9 13 12 16 18 34 34 34 34 34 52 52 56 57 60 Oct 23 Jun 24 Dec 24 Aug 25 Dec 25 Nido owned Incubation movements (3) Open Services B/fwd Managed for a 3rd party Jun 24 Dec 24 Aug 25 Dec 25 8 mths 6 mths 6 mths 8 mths 4 mths 9 9 13 12 16 4 3 5 5 (4) (1) (3) 12 16 18 Acquired by Nido Open Services C/fwd Nido Education Limited (ASX:NDO) 2025 Half Year Results 9 • We have opened five Services this year with five more expected to be completed by December 2025 • We have acquired five de-risked Services to date with one Service acquired in July 2025 and three more Services expected to be acquired by the end of the year Incubated Services Oct 23 Opened The incubated growth model has allowed Nido to increase its owned and incubated portfolio by 20% from IPO in October 2023 to 73 Services today 13 23 Pipeline Our pipeline continues to mature with over 100 sites at various stages of development Incubation pipeline – 26 August 2025 We continue to consider circa 100 to 150 new opportunities every month 53 • 16 Services are now open and in trade up • 19 sites are expected to open progressively over the next 15 months 19 16 Near completion DA and Under Approved DA and Agreements construction Agreements: pending 2026 opening Expected to open in 2025 Nido Education Limited (ASX:NDO) 2025 Half Year Results • 53 sites have passed the initial assessment and have progressed to the next stage of review 8 6 5 Open • 19 sites have been confirmed as meeting Nido’s requirements and are awaiting DA approval or legal agreement completion Expected to open in 2026 Approved by Nido for Incubator We are pleased with the progress of the incubator and look forward to expanding our impact for children and families Expected opening from 2026 24 05 Looking ahead Nido Education Limited (ASX:NDO) 2025 Half Year Results What Government has said Comment attributable to Prime Minister Anthony Albanese: “Every child should have the right to quality, affordable early education.” "That’s why we want to build a universal child care system that is simple, affordable and accessible, for every family.” "We think children should have guaranteed access to at least three days of high-quality early education and care – because early education is about changing lives.” Comment attributable to Minister for Education Jason Clare: “We have made child care cheaper for more than 1 million families.” “We are delivering a 15 per cent pay rise to build the early education workforce.” “And now we will build more centres to expand access to this essential service in the outer suburbs and the regions to help more Aussie kids benefit from quality early education.” “This is a key part of our plans to build a universal early education system.” Quotes attributable to Minister for Early Childhood Education and Minister for Youth Dr Anne Aly: “Our Building Early Education Fund will help make sure that children no matter their background or where they live are able to access the transformational benefits of early education and care.” “Accessible and affordable early learning is critical for supporting more people, especially women, to have a choice when it comes to undertaking study, re-entering the workforce or increasing their hours of work.” "We're laying the foundation for a truly universal early childhood education system through improving affordability, boosting supply, increasing accessibility and securing the vital workforce families rely on.“ Source: https://pmtranscripts.pmc.gov.au/release/transcript-46427 Nido Education Limited (ASX:NDO) 2025 Half Year Results 26 What action has Government taken Activity test (current system) Albanese Government’s 3-Day Guarantee (from Jan 2026) The number of subsidised child care hours a family receives is determined by the hours of “approved activity” (work, study, training, voluntee