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ASPEN GROUP Capital/Financing Update 2018

Oct 18, 2018

64404_rns_2018-10-18_0924d5ed-5de7-4a58-8f16-91be7a41a25a.pdf

Capital/Financing Update

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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: [email protected]

ASX ANNOUNCEMENT 19 October 2018

SETTLEMENT OF HIGHWAY 1 CARAVAN & TOURIST PARK

Further to the announcement on 26 September 2018, Aspen (ASX:APZ) is pleased to advise that settlement of the Highway 1 Caravan & Tourist Park acquisition occurred on 17 October 2018. The integration of the business is underway in readiness for the Christmas holiday trading period.

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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: [email protected] Email: [email protected]

Highway 1 Caravan & Tourist Park

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----- Start of picture text ----- LOCATION INVENTORY LOCATION IMAGES❑ Port Wakefield Rd, Bolivar SA 5110 COMPOSITION13213210979 109 79Privately Aspen -Totalowned ownedSites - 132 132Cabins - 109 109Residences 79 - 79Total 79 241 320USAGE MIX13224 108 1092779 82 79-Permanent- Short-Totalstay staySites 24 108 132Cabins 27 82 109Residences 79 - 79Total 130 190 320Purchase Approx. Value per unit ofState Inventory Area (ha) Value per ha ($m)price ($m) Yield inventory ($k)SA 23 9.0% 320 72 9.86 2.3----- End of picture text -----