The inability of foreign students to travel into Australia will likely have a slight negative impact on our revenue projections for the year, but this will almost be entirely offset with careful expense management such that their full year EBITDA will be in line with our original projection of $60 million.

Nov 4, 2021 / CEO / receipt, needs a key / Carl McDonald, CEO | earnings call 2021-11-04 | transcript b7565cc5-00ff-466f-9407-c33e572d090e | chars 2601-2908 | segment 2

We are encouraged that many of these restrictive lockdown measures are beginning to ease, and we are cautiously optimistic that foreign travel into Australia will be allowed to resume in the early part of 2022.

Nov 4, 2021 / CEO / receipt, needs a key / Carl McDonald, CEO | earnings call 2021-11-04 | transcript b7565cc5-00ff-466f-9407-c33e572d090e | chars 2909-3119 | segment 2

At the beginning of this year, we assumed that the Australian borders would reopen to foreign travel, including international students, by this time of the year, essentially the third quarter. However, it now appears that borders will remain closed through at least spring of 2022, which we expect could have a moderately negative impact on this year's revenue.

Jul 28, 2021 / CEO / receipt, needs a key / Carl McDonald, CEO | earnings call 2021-07-28 | transcript 2547ed17-77b3-47b5-962f-a4a693c5d060 | chars 2304-2665 | segment 2