ASPEN GROUP — Capital/Financing Update 2014

Apr 3, 2014

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Aspen Group Limited ABN 50 004 160 927 Aspen Property Trust ARSN 104 807 767 Level 3, Newspaper House 129 St Georges Terrace, Perth Western Australia, 6000 Telephone: 08 9220 8400 Facsimile: 08 9220 8401

Email: homemail@aspengroup.com.au

MARKET RELEASE

ASX ANNOUNCEMENT 4 April 2014

SALE OF SEPTIMUS ROE OFFICE BUILDING, PERTH

Aspen Group is pleased to announce that it has entered into an unconditional contract for the sale of the Septimus Roe Office Building in Perth.

Settlement is expected to occur on or before 25 June 2014.

The sale price is $91.0 million which is in line with net carrying value as at 31 December 2013, since provisions for capital expenditure at the property will no longer be required.

Aspen Group chief executive Clem Salwin said of the sale, “This transaction represents another significant milestone in the delivery of our strategic plan.

“We set out to realise Aspen Group’s commercial portfolio in order to reduce debt, to simplify the business and to focus on “value for money” accommodation. Following the recently announced sale of Aspen Group’s interest in the ATO Adelaide, Septimus Roe is the next largest asset in the portfolio. With these sales, we are methodically progressing with our strategic plan.

“The majority of proceeds are expected to be utilised for debt reduction, however we will also look to commence capital management initiatives, as well as potential reinvestment of capital in the business.”

End

For further information please contact:

Clem Salwin Adam Marrs Ekamper Chief Executive Officer & Managing Director Chief Financial Officer Phone: (+61) 8 9220 8400 Phone: (+61) 8 9220 8400 Email: clems@aspengroup.com.au Email: adame@aspengroup.com.au

Media enquiries

David Tasker Professional Public Relations Phone: 0433 112 936 Email: david.tasker@ppr.com.au

Aspen Group ASX Announcement – Septimus Roe sale – April 2014