ASPEN GROUP — Capital/Financing Update 2016

Nov 28, 2016

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Aspen Group Limited ABN 50 004 160 927 Aspen Property Trust ARSN 104 807 767 Level 3, 37 Pitt Street Sydney NSW 2000 Telephone: 02 9151 7500 Facsimile: 02 9151 7599 Email: homemail@aspengroup.com.au

MARKET RELEASE

ASX ANNOUNCEMENT 29 November 2016

Aspen Group continues to expand its tourism portfolio with the acquisition of BIG4 Tween Waters Holiday Park

Aspen Group Limited (ASX: APZ) is pleased to announce that it has exchanged contracts for the acquisition of BIG4 Tween Waters Holiday Park (Tween Waters). The total purchase price of $6.8 million for Tween Waters reflects an initial yield of 9.4%, excluding acquisition costs.

Located only a short distance from the town centre and only steps away from the pristine beaches of Merimbula, NSW, Tween Waters is a freehold tourist park consisting of 96 sites. In addition to its beachfront location, Tween Waters’ facilities include 31 cabins and a recently installed water park.

Commenting on this acquisition, Aspen Group Chief Executive Officer Joel Cann said:

“As with the recent acquisition of Koala Shores, the purchase of Tween Waters is another example of Aspen executing on its strategic vision to become an industry leader in the affordable accommodation sector.

“We are pleased to again add a high quality asset to our tourism portfolio. We believe that under Aspen Group’s ownership there are further enhancement opportunities utilising our marketing and distribution platform. Furthermore, Tween Waters is ideally situated to form part of a potential ownership cluster centred on the NSW South Coast.”

Upon completion, the acquisition will be funded from existing cash holdings of Aspen Group, with settlement scheduled to occur mid-December 2016 and in time for peak trading season.

END

For further information, please contact: Joel Cann Emmanuel Zammit Chief Executive Officer Chief Financial Officer Phone: (+61) 2 9151 7500 Phone: (+61) 2 9151 7500 Email: joelc@aspengroup.com.au Email: emmanuelz@aspengroup.com.au

Location map

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Source: Google maps

Property photos

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