ASPEN GROUP — Capital/Financing Update 2020

May 27, 2020

Market Announcement

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28 May 2020

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Aspen Group (ASX: APZ) – Trading Halt

Description

The securities of Aspen Group (‘APZ’) will be placed in trading halt at the request of APZ, pending it releasing an announcement. Unless ASX decides otherwise, the securities will remain in trading halt until the earlier of the commencement of normal trading on Monday, 1 June 2020 or when the announcement is released to the market.

Issued by

Elvis Onyura

Senior Adviser, Listings Compliance (Sydney)

Market Announcement 1/1 ASX Customer Service Centre 131 279 | asx.com.au

28 May 2020 ASX Limited

Aspen Group Limited ABN 50 004 160 927 Aspen Property Trust ARSN 104 807 767

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21 Oxford Street Bondi Junction NSW 2022 Telephone: 02 9151 7500

Email: homemail@aspengroup.com.au

By email: tradinghaltssydney@asx.com.au

28 May 2020

Elvis Onyura Senior Adviser, Listings Compliance (Sydney) 20 Bridge Street, Sydney, NSW, 2000

Dear Mr Onyura

REQUEST FOR TRADING HALT: ASPEN GROUP LIMITED (ASX: APZ)

Pursuant to Listing Rule 17.1, Aspen Group Limited ( APZ ) requests a trading halt in its fully paid ordinary/unites Stapled Securities ( ASX:APZ ), with immediate effect pending a further announcement regarding a capital raising.

For the purposes of ASX Listing Rule 17.1, and in support of its request, APZ advises that:

• (a) APZ wishes the trading halt to remain in place until such time as it makes an announcement to the market in relation to the results of the capital raising or the commencement of trading on Friday 29 May 2020, whichever is earlier; and

• (b) APZ is not aware of any reason why the trading halt should not be granted or any other information necessary to inform the market in relation to the trading halt.

Yours sincerely

Belinda Cleminson Company Secretary