ASPEN GROUP — Capital/Financing Update 2023

Nov 29, 2023

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30 November 2023

Aspen Group Limited ABN 50 004 160 927 Aspen Property Trust ARSN 104 807 767 Suite 21, 285A Crown Street Surry Hills NSW 2010 Telephone: 02 9151 7500

Email: homemail@aspengroup.com.au

ASX Limited Exchange Centre 20 Bridge Street Sydney NSW 2000

CLEANSING NOTICE

Notice under section 708A(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 section 708A(5)(e) of the Corporations Act 2001 (Cth) ( Act ).

Aspen Group on 30 November 2023, issued 71,428 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 $1.75 per Stapled Security to the Joint Chief Executive Officers as part payment of their Short Term Incentive pursuant to the approval at the 2023 Annual General Meeting. These stapled securities will be under voluntary escrow until 30 June 2024.

Aspen Group advises that:

• (i) 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;

• (ii) this notice is being given under section 708A(5)(e) of the Act;

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

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

  • a. the provisions of Chapter 2M of the Act as they apply to Aspen Group; and

  • b. section 674 of the Act, as it applies to Aspen Group; and

• (v) as at the date of this notice, there is no information that is “excluded information” within the meaning of sections 708A(7) and 708A(8) of the Act.

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

Yours sincerely,

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Mark Licciardo Company Secretary Aspen Group Limited