ASPEN GROUP — Capital/Financing Update 2014

May 6, 2014

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Level 3, 129 St Georges Tce Perth WA 6000 PO Box Z5025, St Georges Tce Perth WA 6831 T +61 8 9220 8400 F +61 8 9220 8401 w www.aspengroup.com.au

7 May 2014

ASX Market Announcements ASX Limited Exchange Plaza 2 The Esplanade PERTH WA 6000

Dear Sirs

CANCELLATION OF EMPLOYEE PERFORMANCE RIGHTS

The following Performance Rights to acquire stapled securities in Aspen Group Limited have lapsed or have been cancelled under the terms of the Company’s Performance Right’s Plan.

No. of Performance Rights Cancelled Financial Year issued 58,858 FY2012 60,241 FY2013

In addition, an Appendix 3B has been lodged showing the stapled securities issued. Below is the balance of classes on issue.

119,948,774 Stapled Securities 1,015,002 Performance Rights 1,729,412 Options

Yours faithfully

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Eric Lee Company Secretary