ASPEN GROUP — Capital/Financing Update 2021

Aug 24, 2021

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

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Suite 21, 285A Crown Street Surry Hills NSW 2010 Telephone: 02 9151 7500

25 August 2021

Email: homemail@aspengroup.com.au

ASX Limited Exchange Centre 20 Bridge Street Sydney NSW 2000

CLEANSING NOTICE

Notice under sections 708A(5)(e) and 1012DA(5)(e) of the Corporations Act 2001 (Cth)

This notice is given by Aspen Group Limited (ABN 50 004 160 927) ( Aspen Group Limited ) and Evolution Trustees Limited (ABN 29 611 839 519) as responsible entity of the Aspen Property Trust (ARSN 104 807 767) ( Aspen Property Trust ) (together Aspen Group ) under sections 708A(5)(e) and 1012DA(5)(e) of the Corporations Act 2001 (Cth) ( Act ).

Aspen Group today issued 17,455,000 fully paid ordinary stapled securities, each comprising one ordinary share in Aspen Group Limited and one ordinary unit in the Aspen Property Trust, stapled together on a 1:1 basis ( Stapled Securities ), at an issue price of A$1.33 per Stapled Security to institutional and professional investors under the institutional placement announced on 19 August 2021 ( Placement ) .

The Placement is being conducted in conjunction with a non-underwritten share purchase plan ( SPP ), also announced on 19 August 2021.

Aspen Group confirms that:

• (a) the Stapled Securities were issued without disclosure to investors under Part 6D.2 and Part 7.9 of the Act and without a prospectus or product disclosure statement being prepared;

• (b) this notice is being given under sections 708A(5)(e) and 1012DA(5)(e) of the Act;

• (c) as a disclosing entity, Aspen Group is subject to regular reporting and disclosure obligations;

• (d) as at the date of this notice, Aspen Group has complied with:

  • (i) the provisions of Chapter 2M of the Act as they apply to Aspen Group; and

  • (ii) section 674 of the Act, as it applies to Aspen Group; and

• (e) as at the date of this notice, there is no information that is ”excluded information” within the meaning of sections 708A(7), 708A(8), 1012DA(7) and 1012DA(8) of the Act which is required to be disclosed under section 708A(6)(e) or 1012DA(6)(f) of the Act.

This announcement was authorised for released by the Board of Directors of Aspen Group.

Yours sincerely,

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David Dixon

Company Secretary Aspen Group Limited