ASPEN GROUP — Capital/Financing Update 2025

Aug 31, 2025

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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

1 September 2025

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 today issued 1,244,149 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 ), to employees and Joint Chief Executive Officers on conversion of performance rights which were issued on 1 December 2022. The performance rights are being converted on satisfaction of performance hurdles. An Appendix 2A applying for quotation of securities has been released on ASX today.

Also, Aspen Group, today issued 36,662 fully paid ordinary Stapled Securities, to Patrick Maddern, Head of Asset Management, at an estimated issue price of $1.79 per stapled security, as a part of short term incentive payment for FY2024.

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 and 674A 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 that is required to be set out in this notice under section 708A(6)(e) of the Act.

This announcement was authorised for release by the Joint Company Secretaries of Aspen Group.

END

For further information, please contact: David Dixon John Carter Joint Chief Executive Officer Joint Chief Executive Officer Phone: (+61) 2 9151 7584 Phone: (+61) 2 9151 7586 Email: davidd@aspengroup.com.au Email: johnc@aspengroup.com.au