May 2018

OneSmart International Education Group Limited

Investor Presentation

2

Disclaimer

This press release contains forward-looking statements made under the "safe harbor" provisions of Section 21E of the

Securities Exchange Act of 1934, as amended, and the U.S. Private Securities Litigation Reform Act of 1995. These

forward-looking statements can be identified by terminology such as "will," "expects," "anticipates," "future," "intends,"

"plans," "believes," "estimates," "confident" and similar statements. OneSmart may also make written or oral forward-

looking statements in its reports filed with or furnished to the U.S. Securities and Exchange Commission, in its annual repor t

to shareholders, in press releases and other written materials and in oral statements made by its officers, directors or

employees to third parties. Any statements that are not historical facts, including statements about OneSmart's beliefs and

expectations, are forward-looking statements that involve factors, risks and uncertainties that could cause actual results to

differ materially from those in the forward-looking statements. Such factors and risks include, but not limited to the following:

OneSmart's goals and strategies; its future business development, financial condition and results of operations; its ability to

continue to penetrate premium K-12 after-school education services market; diversify and enrich our education offerings;

enhance the development and management of our teacher team and teaching materials; competition in our industry

in China; its ability to maintain and expand online education presence; relevant government policies and regulations relating

to the corporate structure, business and industry; and its ability to protect our students’ information and adequately address

privacy concerns . Further information regarding these and other risks, uncertainties or factors is included in the Company's

filings with the U.S. Securities and Exchange Commission. All information provided in this press release is current as of the

date of the press release, and OneSmart does not undertake any obligation to update such information, except as required

under applicable law.

Section 1

Company Overview

4

Who We Are – Mission, Vision and Values

Bring out the utmost learning power in each student by cultivating his or her study

motivation, capability and perseverance, and enable our students to pursue life-long success

Our Mission

Build the most trusted ‘‘Third Classroom’’ outside of home

and school

Our Vision

Customer FocusExecution

InnovationTeamwork

Our Values

• Bring out the utmost learning power in each student by cultivating his or her study motivation, capability and perseverance, and enable our students to pursue life-long success

Our Mission

• Build the most trusted ‘‘Third Classroom’’ outside of home and school

Our Vision

• CEIT:

•Customer Focus

•Execution

•Innovation

•Teamwork

Our Values

5

Who We Are - Largest Premium K-12 Education Service Provider

in China

Notes1. In terms of revenue in 2016 and 2017, according to Frost & Sullivan2. For students from kindergarten to the third grade in Shanghai in terms of revenue in 2016 and 2017, according to Frost & Sullivan 3. As of February 28, 20184. In terms of revenue in 2017, according to Frost & Sullivan5. A student enrollment is defined as a student who takes at least one class in one subject during a certain period. Under this definition, a student taking at least one class in each of two subjects during a certain period is treated as two

student enrollments for the period. The number of students enrolled in our invested K-12 schools and OneSmart Online is not included for this purpose6. For the fiscal quarter ended February 28, 20187. Fiscal year ended August 31

Well-recognized brand with 273

study centers covering 41cities in China(3)

Dominant 2017 market share of

26.3%(4) in Shanghai’s premium K-12

after-school education market

102,613 average monthly student

enrollments(5)(6)

#1 premium K-12 after-school tutoring

service provider in China(1)

#1 young children mathematics education

service provider in Shanghai(2)

5,044full-time teachers(3)

RMB2.1Bnrevenue in FY2017(7) with

37.4% 3-year CAGR

6

Premium Tutoring Services

1-on-1, 1-on-3 3rd–12th Grade

Premium Young Children Education Services

1-on-8Kindergarten –

Primary School

Language and Culture Programs New Program Initiatives

OneSmart OnlineOneSmart ClassOneSmart

Elite English

OneSmart Overseas

Language Training

OneSmart

Study Camp

HappyMath

Largest Premium K-12 After-school EducationService Provider in China(1)

Largest Young Children Mathematics Education Service Provider in Shanghai (2)

OneSmart VIP

Notes1. In terms of revenue in 2016 and 2017, according to Frost & Sullivan2. For students from kindergarten to the third grade in Shanghai in terms of revenue in 2016 and 2017, according to Frost & Sullivan

also covers Chinese and STEM education

What We Do

FasTrack English

7

Our Key Milestones

2008

2018

Launched Our UPC System(1)

Opened Our First Study

Center in Shanghai

Opened Our First Study

Center Outside Shanghai

Launched

HappyMath Program

Number of Study

Centers Surpassed 100

Launched 1-on-3 Programs

273 Study Centers in

46 Cities in China(2)

Listed on NYSE on March 28, 2018

2009

2012

2014

2016

U.S. Secretary of Education Dr. John B. King Jr.

visited OneSmart

Notes1. Unique Personalized Coach, an operational management system that enables us to build a set of robust operational and management information solutions that integrate and unify our operations and improve the efficiency of how we

expand and operate our study center network2. As of February 28, 2018

2013

8

Company Highlights

Leader in premium K-12 after-school education services market with established brands

Significant expertise in teaching staff management and curriculum development

brings R&D economy of scale

Customized and comprehensive learning experience powered by innovation

Robust teaching and operation system supported by our standardized

technology platform

Comprehensive suite of service offerings that significantly extend life time value of

customers for margin expansion

Experienced management team with proven track records6

1

3

4

2

5

9

Core Operation Strategies

Our future core operation strategies will focus on customer satisfaction, profitable growth and

diversification of our business

• Strengthen our

technologies

and in-house

teaching

capabilities

• Expand our online education presence

• Enrich our

education

program offerings

Profitable Growth

Diversification

1 Customer Satisfaction

• Continue to

penetrate

premium K-12

tutoring market

• Enhance the

development and

management of our

teacher team and

teaching materials

2

3

• Pursue selective strategic

investments and acquisitions to

further build ecosystem

10

1

3

4

2

Expand more subjects taken by each student and maximize student life-time revenue

Start offering Chinese, science, and computer programming subjects at HappyMath centers

Cross-selling among Happymath and FasTrack English students

Manage geographic expansion profitably

Further penetrate into top cities that we operate to achieve higher marketing and G&A efficiency and ensure early ramp-up of new learning centers

Selectively enter into new cities with great market potential

Enrich product and service offerings

Successfully acquired FasTrack English in Jan 2018

Launched OneSmart Class and OneSmart Online programs

Continuous margin expansion opportunity through better product mix

Higher revenue contribution from 1 on 3 premium tutoring services and 1 on 8 young children education programs

Roadmap to Revenue Growth and Margin Expansion

Section 2

Key Highlights for Second Fiscal

Quarter of 2018

12

Net revenues increased by 34.1%

Net income attributable to OneSmart increased by 107.3%

Monthly average student enrollments increased by 38.4%

Net revenues from premium young children education services

increased by 82.1%

Operating profit margin increased by 330 bps

Prepayments from customers increased by 44.0%

Key Highlights for Second Fiscal Quarter of 2018

13

Sources Frost & Sullivan, Company

1 Customer Satisfaction – Tremendous Achievements Accomplished

by Us and Our Students

Notes

1. Classes of 20172. Out of more than 27,000 interviewees who responded to questionnaires to parents of students attending OneSmart VIP programs

3. A student enrollment is defined as a student who takes at least one class in one subject during a certain period. Under this definition, a student taking at least one class in each of two subjects during a certain period is treated as two student enrollments for the period. The number of students enrolled in our invested K-12 schools and OneSmart Online is not included for this purpose

4. Quarterly student retention rates for fiscal years ended August 31, 2015, 2016, 2017 and three months ended February 28, 2018

5. Out of more than 400 interviewees who responded to questionnaires to parents of students attending HappyMath programs

40% China avg.

91% vs.UniversityAdmission

Rate (1)

90% vs. 57% China avg.

45% vs. 8% Shanghai avg.

Students’ Success in School Admission and Exams Yielding High Satisfaction Rate

91%Parents are Satisfied to Our

Teaching Service(2)

74%Students Making Progress under

Our Program(2)

40%Parents of Students Taking

HappyMath Gave

Full Satisfaction Score (5)

Highest average hourly

tuition fee rate among peers

Exceptional quarterly retention

rate maintained at ~80% (4)

High average monthly student

enrollment(3) growth at

~37.3% 3-year CAGR

41 56 77

FY15 FY16 FY17

‘000

Exceptional Operational and Business Results

High SchoolAdmission

Rate (1)

Admission to Top 10 Private

Primary

Schools(1)

14

DesignedClassroom

a

a

OneSmartApp

PLI Analysis

CustomizedTeachingMethods

Integrated Offline-to-Online

Services

Well-trainedTeachers

1 Customer Satisfaction – Integrated Offline-to-Online Services

Supported by Powerful Technology Platform

iOneSmart +

iHappyMathOffline Study

Centers

Student

• Communication channel with teachers

• Real-time study progress tracking

• Class scheduling and lesson management

• Access personal records

• Track performance in real-time

• Communication channel with teachers

• Teaching notesParents

• Customized student records

• Live interaction with students and parents outside of class

Teacher

• Personalized mentoring

• Connects parents and teachers to create the best

study plans for students Study

Advisor

15

1 Customer Satisfaction – Deployment of Latest Education Technology

ALTS

Knowledge Mapping

Resource Database

Adaptive Learning

Socialized Feedback

Data Mining

• In December 2017, we launched iOneSmart Study Master version 10.0 applications to

incorporate the latest application of Adaptive Learning Through Socialization (ALTS) and data

analytic technology to fine-tune our personalized aptitude assessment, personalized teaching

plan and visualized learning progress reports.

• We upgraded approximately 20% of our OneSmart VIP and HappyMath classrooms with up-to-date

hardware and software during the second fiscal quarter of 2018

16

2 Profitable Growth –Roadmap to Revenue Growth and Margin Expansion

1

3

4

2

Expand more subjects taken by each student and maximize student life-time revenue

Start offering Chinese, science, and computer programming subjects at HappyMath centers，approximately 3,000 student enrollments in Chinese subject in Feb 2018

Manage geographic expansion profitably

Further penetrate into top cities that we operate to achieve higher marketing and G&A efficiency and ensure early ramp-up of new learning centers – new study centers opened in mature and sub-mature markets accounted for over 80% of total new centers

Over 50% YOY growth in Student Enrollments in 10 key second tier cities including Chengdu, Suzhou, Xiamen, Chongqing, Changsha, Kunming, Fuzhou, Shenyang, Dalian and Tianjin during the second quarter of 2018

Enrich product and service offerings

Successfully acquired FasTrack English in Jan 2018

Launched OneSmart Class and OneSmart Online programs

Continuous margin expansion opportunity through better product mix

Higher revenue contribution from 1 on 3 premium tutoring services and 1 on 8 young children education programs – 1 on 3 program as a percentage of total revenue increased to 16.4% from 12.1%

17

3 Diversification – Acquisition of FasTrack English

Unique and Effective Curriculum: PIER 3 Comprehensive Courses with Targeted Milestones

Professional and systematic curriculum that

stimulates learning interest

Internationally recognized vocabulary recognition

and pronunciation teaching system

Cultivate ability to create connections

among w ords and sentences

Incorporates English on-

stage speaking element

Curriculum supplemented w ith

American teaching materials

The only study platform combining

online and off line elements nationw ide

Basic

Intermediate

AdvancedPositive Innovative

English Reinforcement

Classes completely taught in English, focused on

helping children develop the ability to think

intuitively in English through massive amounts of

listening and speaking practice

Focused on teaching basic grammar, and helping

children develop the ability to build sentences and

independently create basic written pieces

Focused on cultivating advanced reading

comprehension, systematic essay-writing,

and fluid English communication abilities

Rated as the “Most

Influential Children

Education Institution” in China by numerous education-

focused media outlets

One of top 20

most valuable

foreign language education brands

Highly reputable English education institution for children from ages 3 to 12

Tremendous cross-

selling opportunitybetween FasTrack

English and HappyMath

15 study centers in 2 cities

with 5,935 student enrollments as of Feb 28,

2018

18

3 Diversification – Strategic Investment in Yimi Online Tutoring

450

1,645

Q1 2017 Q1 2018

7

45

Q1 2017 Q1 2018

4

20

Q1 2017 Q1 2018

+266%

Growth

+512%

Growth

+370%

Growth

Initial investment in 2015, subsequent

investment together with Blue Lake

Capital in 2018

A leading online platform that focuses

on 1v1 or 1v6 live after school tutoring

courses

100% Full Time

teachers

Latest round of

valuation: USD 80

Million

Monthly Average

New EnrollmentsGross Billing

RMB MM

RevenueRMB MM

Section 3

Financial Highlights

20

49 89 87

160

FQ22017

FQ22018

H12017

H22018

432 562 712 921

FQ22017

FQ22018

H12017

H12018

Net Revenues(1) Premium K-12 Tutoring – Net Revenues(1)

Strong Momentum in Both Top and Bottom Lines

RMB MM

Notes

1. Fiscal years ended August 31 and fiscal second quarters ended February 28

RMB MM

Premium Young Children – Net Revenues(1)

+100.1%

RMB MM

+82.1%

Growth

+32.5%

CAGR

+30.0%

Growth

CAGR

1,089

1,529

2,058

FY2015 FY2016 FY2017

495

663

821

1,105

FQ22017

FQ22018

H12017

H12018

+34.1%

Growth

1,026

1,383

1,801

FY2015 FY2016 FY2017

53

113

212

FY2015 FY2016 FY2017

+37.4%

CAGR

Growth

+34.5%

+29.3%

Growth

+82.6%

Growth

Strong Top-line Growth Momentum in Both Premium K-12 Tutoring

and Premium Young Children Education

21

2,689,402

3,520,199

4,595,153

5,978,545

FQ22017

FQ22018

H12017

H12018

5,925,465

8,554,178

11,212,190

FY2015 FY2016 FY2017

Scaling-up in Various Metrics

40,743

56,019

76,841

FY2015 FY2016 FY2017

74,159

102,613

68,008

96,746

FQ22017

FQ22018

H12017

H12018

+37.3%

CAGR

+38.4%

Growth Growth

+42.3%

Average Monthly Enrollments(1)

+37.6%

CAGR

+30.9%

Growth

Consumed Class Units(1)

6,570 7,486

8,711 8,229

10,142

FY2015 FY2016 FY2017 FQ2 2017 FQ2 2018

+23.2%

Growth

Number of Classrooms(1)

+15.2%

CAGR

Notes

1. Fiscal years ended August 31 and fiscal second quarters ended February 28

+30.1%

Growth

Number of Study Centers(1)

98 117 153 138

193 1527

3431

56

15

4

6

87

9

FY2015 FY2016 FY2017 FQ2 2017 FQ2 2018OneSmart VIP Happymath FasTrack Others

+29.1%

CAGR

+55.1%

Growth

117

150

195176

273

22

30.8% 29.8%31.9% 31.1%

9.4% 10.4%10.2% 11.2%

2.2% 3.3%2.6% 3.5%

6.7% 6.4%6.8%

7.0%

FQ22017

FQ22018

H12017

H12018

32.5% 31.7% 31.1%

11.1%8.4% 9.1%

4.2%

2.9% 2.6%

5.5%

4.8% 5.9%

FY2015 FY2016 FY2017

Gross Profit and Gross Margin(1) Cost Structure(1)

High Gross Margin and Clear Cost Structure

RMB MM

Notes

1. Fiscal years ended August 31 and fiscal second quarters ended February 28

46.7% 52.2% 51.3% 50.9% 50.1% 53.3% 47.8% 48.7% 49.1% 49.9%

509

799

1,055

FY2015 FY2016 FY2017

252

332 398

521

FQ22017

FQ22018

H12017

H12018

Staff costs Rental costs

Depreciation and amortization Other costs

48.5% 47.2% 51.5% 52.8%

23

Non-GAAP Selling & Marketing Expenses as % of

Revenues(1)(2)

Non-GAAP General & Administrative Expenses as

% of Revenues(1)(2)

Efficient Management Leads to Lower and Stabilizing Expenses

Notes

1. Fiscal years ended August 31 and fiscal second quarters ended February 282. Excluding share based compensati on expenses

22.9% 19.5% 18.6% 16.1% 17.4%22.4% 17.0% 17.9% 18.5% 18.2%

RMB MM RMB MM

244 261

368

FY2015 FY2016 FY2017

113 129

183

236

FQ22017

FQ22018

H12017

H12018

202

247

357

FY2015 FY2016 FY2017

91

121

158

214

FQ22017

FQ22018

H12017

H12018

22.2% 21.3% 19.2% 19.4%

24

Robust Income and Healthy Margin

Operating Income and Operating Margin (1) Non-GAAP operating Income and Operating Margin (1)

Net Income and Net Income Margin (1) (2) Non-GAAP Net Income and Net Income Margin (1) (2)

RMB MM RMB MM

RMB MM RMB MM

Notes

1. Fiscal years ended August 31 and fiscal second quarters ended February2. Net income attributable to OneSmart

5.8% 19.1% 16.0% 9.6% 12.4%

63

234

305

FY2015 FY2016 FY2017

47 82

58 71

FQ22017

FQ22018

H12017

H12018

7.0% 6.5%5.8%

56

189

259

FY2015 FY2016 FY2017

15.3% 14.8% 8.5% 11.8% 5.7% 5.6%

63

291 330

FY2015 FY2016 FY2017

5.1% 12.4% 12.6% 7.5% 11.7% 5.0% 9.5%

56

247 284

FY2015 FY2016 FY2017

5.1% 16.1% 13.8% 8.6% 12.3% 6.3% 10.4%

42 78

47 62

FQ22017

FQ22018

H12017

H12018

37 77

41

105

FQ22017

FQ22018

H12017

H12018

43 81

52

115

FQ22017

FQ22018

H12017

H12018

25

47 84

173

FY2015 FY2016 FY2017

Robust Cash Flows and Healthy Balance Sheet with Low

Capex Requirements

Operating Cash Flows(1) Capex and Capex as a % of net revenues(1)

Prepayments from Customers(1)

Cash and Cash Equivalents and Short-term

Investments(1)

RMB MM RMB MM

RMB MM RMB MM

Notes

1. Fiscal years ended August 31 and fiscal second quarters ended February

4.3% 5.5% 8.4% 16.2% 13.2%

396

614 773

FY2015 FY2016 FY2017

156 51 256

336

FQ22017

FQ22018

H12017

H12018

80 88 97 114

FQ22017

FQ22018

H12017

H12018

742

1,053

1,531 1,793

FY2015 FY2016 FY2017 FQ2 2018

516

1,010

1,396

1,115

FY2015 FY2016 FY2017 FQ2 2018

11.8% 10.4%

Thank You