This document summarizes DeVry's strategic plan to strengthen its core business of providing career-oriented education through investments in areas like technology and faculty, while also diversifying its business across different academic programs, education levels, and geographies. It discusses DeVry's history of growth and financial performance, current challenges around enrollment and earnings declines, and a 5-point plan to improve performance through cost alignment, recruiting enhancements, awareness building, targeted investments, and developing faculty.

1. Achieve. Grow. Build.

2.  Forward-Looking Statements
Certain statements contained in this presentation concerning
DeVry’s future performance, including those statements concerning
DeVry’s expectations or plans, may constitute forward-looking
statements subject to the Safe Harbor Provision of the Private
Securities Litigation Reform Act of 1995. These forward-looking
statements generally can be identified by phrases such as DeVry
Inc. or its management “believes,” “expects,” “anticipates,”
“foresees,” “forecasts,” “estimates” or other words or phrases of
similar import. Actual results may differ materially from those
projected or implied by these forward-looking statements. Potential
risks, uncertainties and other factors that could cause results to
differ are described more fully in Item 1A, “Risk Factors,”
in DeVry’s most recent Annual Report on Form 10-K
for the year ending June 30, 2010 and filed with the
Securities and Exchange Commission on August 25, 2011.

3. 
Business,Technology Medical & International, K-12 and
& Management Healthcare Professional Education

6. Student Outcomes
NCLEX Pass
Rate
95%

7. Student Outcomes

8. Student Outcomes
Achieves AVMA
Accreditation

10.  Revenue: 10-Year History
CAGR
FY01-10 +14.5% $2,182
FY10-11 +13.9% $1,915
$1,461
(in millions)
$1,092
$934
$785 $781 $840
$648 $679
$568
FY01 FY02 FY03 FY04 FY05 FY06 FY07 FY08 FY09 FY10 FY11

11.  Net Income: 10-Year History
CAGR
FY01-10 +21.6%
FY10-11 +17.9% $330
$280
(in millions) $171*
$128*
$58 $67 $61 $52 $67*
$43
$18
FY01 FY02 FY03 FY04 FY05 FY06 FY07 FY08 FY09 FY10 FY11
*Excludes discrete items.

12.  Financial Highlights
(in millions)
Revenue Net Income
$1,636 $255
$1,584
-3%
-48%
$187*
$54**
$133
FY11 FY12 FY11 FY12
1st Nine Months 1st Nine Months
*Represents YTD FY12 net income before impairment charge and gain on sale.
**Discrete item of Carrington impairment charge net of sale of Stalla.

13.  DeVry Inc. Total Enrollment
140,000 130,957
126,165
120,000 -3.7%
100,000
80,000
60,000
40,000
20,000
0
2011 2012
Spring 2012 enrollment for DeVry’s degree-granting institutions.
Excludes Becker and Advanced Academics.

14.  Strong Financial Position
(in millions)
Cash Debt
$200
$700
$599
$600
$150
$500 $125 $125
$400
$323 $332 $100
$300 $277
$225
$200
$129 $50
$100
$0 $0 $0 $0
$0 $0
FY07 FY08 FY09 FY10 FY11 Thru FY07 FY08 FY09 FY10 FY11 Thru
Q312 Q312

15.  DeVry’s Performance
2014-2016
2007-2011 2012-2013 Recovery and
Performance Transition Growth
• Strong enrollments • Revenues down • Modest enrollment
• Exceptional operating • Earnings down growth at DeVry
leverage University
• Transitioning back to
growth • 2011 onsite enrollment
levels at Carrington
• Other institutions
continue growth

16. 5 Point Performance Improvement Plan

17. 5 Point Performance
Improvement Plan
1. Aligning costs with enrollment
levels
• $25m since 3Q11
• Additional $50m in FY13
• Focused on DeVry University
and Carrington Colleges

18. 5 Point Performance
Improvement Plan
1. Aligning costs with enrollment
levels
2. Enhance recruiting process
3. Improve awareness building

20. 5 Point Performance
Improvement Plan
1. Aligning costs with enrollment
levels
2. Enhance recruiting process
3. Improve awareness building
4. Targeted investments
to drive growth

21.  Growth Investments
acquires

22.  Growth Investments

23. 5 Point Performance
Improvement Plan
1. Aligning costs with enrollment
levels
2. Enhance recruiting process
3. Improve awareness building
4. Targeted investments
to drive growth
5. Invest in DeVry’s people

24. Developing
our
Faculty

25. Delivering Long-Term Value

26.  Our Strategic Plan

27.  Our Strategic Plan
Superior student outcomes
• High-quality, career-oriented academics
• Service excellence
• Innovative educational technology

28.  Our Strategic Plan
and diversify
• Program areas
• Levels of education
• Geographic

29. Diversification: Program Areas
Total Enrollment: Total Enrollment:
43,300 120,000+
30% Business 27% Healthcare
45% Business
70% Technology
28% Technology
Fall 2002 Fall 2010
* Based on data provided to IPEDs; excludes enrollments
at Advanced Academics and Becker Professional Education.

30. Diversification: Level of Education
Total Enrollment: Total Enrollment:
43,300 120,000+
5% Doctoral
14% Master’s
21% Master’s
68% Bachelor’s
56% Bachelor’s
18% Associate/ Associate/
Certificate 19%
Certificate
Fall 2002 Fall 2011
* Based on data provided to IPEDs; excludes enrollments
at Advanced Academics and Becker Professional Education.

31. Diversification: Geographic
4% International
13% International
96% USA 87% USA
2002 2011

32. • Market dynamics favorable to private-sector education
• Organic growth: sharing best practices and DeVry brand
• Growth via acquisitions

33.  Our Strategic Plan
High-quality
infrastructure
• Technology
• Human resources
• Operational excellence
• Reputation

34.  Our Strategic Plan
Strengthen our Core Grow our Core and Invest to Support our Strategy
Diversify and Organization

35.  Allocating Capital
• Strengthen and grow the core
• Diversify beyond the core
• Dividends and share repurchases

36.  Investment Thesis
Education Sector DeVry
• Large, growing demand for • Strong brands, quality
career-oriented education reputation
• Public-sector constrained • Diversification
• Attractive economics • Margin growth

37. Achieve. Grow. Build.