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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.

Business,Technology & Management

International, K-12 and Professional Education

Medical & Healthcare

NCLEX Pass Rate 95%

Student Outcomes

Student Outcomes

Achieves AVMA Accreditation

Student Outcomes

$568 $648 $679$785 $781 $840

$934$1,092

$1,461

$1,915

$2,182

FY01 FY02 FY03 FY04 FY05 FY06 FY07 FY08 FY09 FY10 FY11

Revenue: 10-Year History

CAGR

FY01-10 +14.5%

FY10-11 +13.9%

(in millions)

$58 $67 $61 $52$18

$43$67*

$128*$171*

$280

$330

FY01 FY02 FY03 FY04 FY05 FY06 FY07 FY08 FY09 FY10 FY11

Net Income: 10-Year History

*Excludes discrete items.

CAGR

FY01-10 +21.6%

FY10-11 +17.9%

(in millions)

$255

$133

$54**

FY11 FY12

$1,636 $1,584

FY11 FY12

Financial Highlights

Revenue Net Income

1st Nine Months 1st Nine Months

$187*

-3% -48%

(in millions)

*Represents YTD FY12 net income before impairment charge and gain on sale. **Discrete item of Carrington impairment charge net of sale of Stalla.

DeVry Inc. Total Enrollment

130,957 126,165

0

20,000

40,000

60,000

80,000

100,000

120,000

140,000

2011 2012

-3.7%

Spring 2012 enrollment for DeVry’s degree-granting institutions. Excludes Becker and Advanced Academics.

Strong Financial Position

$129

$277

$225

$323

$599

$332

$0

$100

$200

$300

$400

$500

$600

$700

FY07 FY08 FY09 FY10 FY11 ThruQ312

Cash Debt

$125

$0 $0

$125

$0 $0 $0

$50

$100

$150

$200

FY07 FY08 FY09 FY10 FY11 ThruQ312

(in millions)

DeVry’s Performance

2007-2011 Performance

2012-2013 Transition

2014-2016 Recovery and

Growth

• Strong enrollments

• Exceptional operating leverage

• Revenues down

• Earnings down

• Transitioning back to growth

• Modest enrollment growth at DeVry University

• 2011 onsite enrollment levels at Carrington

• Other institutions continue growth

5 Point Performance Improvement Plan

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

5 Point Performance Improvement Plan

1. Aligning costs with enrollment levels

2. Enhance recruiting process

3. Improve awareness building

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

Growth Investments

acquires

Growth Investments

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

Developing

our

Faculty

Delivering Long-Term Value

Our Strategic Plan

Our Strategic Plan

• High-quality, career-oriented academics

• Service excellence

• Innovative educational technology

Superior student outcomes

Our Strategic Plan

and diversify

• Program areas

• Levels of education

• Geographic

* Based on data provided to IPEDs; excludes enrollments at Advanced Academics and Becker Professional Education.

Diversification: Program Areas

Total Enrollment: 43,300

Total Enrollment: 120,000+

70%

28%

30%

45%

27%

Fall 2002 Fall 2010

Business

Technology

Healthcare

Business

Technology

* Based on data provided to IPEDs; excludes enrollments at Advanced Academics and Becker Professional Education.

Diversification: Level of Education

Doctoral

Master’s

Bachelor’s

Associate/ Certificate

Master’s

Bachelor’s

Associate/ Certificate

Total Enrollment: 43,300

Total Enrollment: 120,000+

18% 19%

68% 56%

14% 21%

5%

Fall 2002 Fall 2011

96% 87%

4% 13%

2002 2011

International

USA

International

USA

Diversification: Geographic

• Market dynamics favorable to private-sector education

• Organic growth: sharing best practices and DeVry brand

• Growth via acquisitions

Our Strategic Plan

High-quality infrastructure

• Technology

• Human resources

• Operational excellence

• Reputation

Our Strategic Plan

Grow our Core and Diversify

Strengthen our Core Invest to Support our Strategy and Organization

• Strengthen and grow the core

• Diversify beyond the core

• Dividends and share repurchases

Allocating Capital

Investment Thesis

Education Sector

• Large, growing demand for career-oriented education

• Public-sector constrained

• Attractive economics

DeVry

• Strong brands, quality reputation

• Diversification

• Margin growth

Achieve. Grow. Build.