ASPEN GROUP — Capital/Financing Update 2021

Aug 23, 2021

Application for quotation of +securities

==> picture [21 x 22] intentionally omitted <==

Announcement Summary

Entity name

ASPEN GROUP

Announcement Type

New announcement

Date of this announcement

Tuesday August 24, 2021

The +securities to be quoted are:

==> picture [8 x 8] intentionally omitted <==

+Securities issued as part of a transaction or transactions previously announced to the market in an Appendix 3B

Total number of +securities to be quoted

ASX +security		Number of +securities to
code	Security description	be quoted	Issue date
APZ	FULLY PAID ORDINARY/UNITS STAPLED	17,455,000	25/08/2021
	SECURITIES

Refer to next page for full details of the announcement

Application for quotation of +securities

1 / 5

Application for quotation of +securities

==> picture [21 x 22] intentionally omitted <==

Part 1 - Entity and announcement details

1.1 Name of entity

ASPEN GROUP

We (the entity named above) apply for +quotation of the following +securities and agree to the matters set out in Appendix 2A of the ASX Listing Rules.

1.2 Registered number type

ABN

Registration number 50004160927

1.3 ASX issuer code

APZ

1.4 The announcement is

==> picture [8 x 8] intentionally omitted <==

New announcement

1.5 Date of this announcement

24/8/2021

Application for quotation of +securities

2 / 5

Application for quotation of +securities

==> picture [21 x 22] intentionally omitted <==

Part 2 - Type of Issue

2.1 The +securities to be quoted are:

==> picture [8 x 8] intentionally omitted <==

+Securities issued as part of a transaction or transactions previously announced to the market in an Appendix 3B

Previous Appendix 3B details:

Announcement Date and	Announcement Title	Selected Appendix 3B to submit quotation
Time		request
19-Aug-2021 12:31	New - Proposed issue of securities -	A placement or other type of issue
	APZ

2.3a.2 Are there any further issues of +securities yet to take place to complete the transaction(s) referred to in the Appendix 3B?

==> picture [8 x 9] intentionally omitted <==

Yes

2.3a.3 Please provide details of the further issues of +securities yet to take place to complete the transaction(s) referred to in the Appendix 3B

Approximately 2,067,669 fully paid stapled securities will be issued under the securities purchase plan announced by Aspen Group on 19 August 2021 (SPP). The SPP offer opens on 26 August 2021 and closes on 8 September 2021 at 5:00pm (Sydney time). Issue of stapled securities under the SPP will occur on 15 September 2021.

Application for quotation of +securities

3 / 5

Application for quotation of +securities

==> picture [21 x 22] intentionally omitted <==

Part 3A - number and type of +securities to be quoted where issue has previously been notified to ASX in an Appendix 3B

Placement Details ASX +security code and description APZ : FULLY PAID ORDINARY/UNITS STAPLED SECURITIES Issue date 25/8/2021 Issue details Number of +securities to be quoted 17,455,000 Are the +securities being issued for a cash consideration? Yes In what currency is the cash consideration being paid? What is the issue price per +security? AUD - Australian Dollar AUD 1.33000000 Any other information the entity wishes to provide about the +securities to be quoted

Application for quotation of +securities

4 / 5

Application for quotation of +securities

Part 4 - Issued capital following quotation

==> picture [21 x 22] intentionally omitted <==

Following the quotation of the +securities the subject of this application, the issued capital of the entity will comprise:

(A discrepancy in these figures compared to your own may be due to a matter of timing if there is more than one application for quotation/issuance currently with ASX for processing.)

4.1 Quoted +securities (total number of each +class of +securities quoted on ASX following the +quotation of the +securities subject of this application)

Total number of ASX +security code and description +securities on issue APZ : FULLY PAID ORDINARY/UNITS STAPLED SECURITIES 133,822,996

4.2 Unquoted +securities (total number of each +class of +securities issued but not quoted on ASX)

Total number of ASX +security code and description +securities on issue APZAI : PERFORMANCE RIGHTS 1,432,742

Application for quotation of +securities

5 / 5