ASPEN GROUP — Director's Dealing 2020

Dec 10, 2020

Appendix 3Y Change of Director’s Interest Notice

Rule 3.19A.2

Appendix 3Y

Change of Director’s Interest Notice

Information or documents not available now must be given to ASX as soon as available. Information and documents given to ASX become ASX’s property and may be made public.

Introduced 30/09/01 Amended 01/01/11

Name of entity	Aspen Group
ABN	50 004 160 927

We (the entity) give ASX the following information under listing rule 3.19A.2 and as agent for the director for the purposes of section 205G of the Corporations Act.

Name of Director	John Carter
Date of last notice	3 September 2020

Part 1 - Change of director’s relevant interests in securities

In the case of a trust, this includes interests in the trust made available by the responsible entity of the trust

Note: In the case of a company, interests which come within paragraph (i) of the definition of “notifiable interest of a director” should be disclosed in this part.

Direct or indirect interest	Direct and indirect
Nature of indirect interest	Indirect: Mill Hill Capital Pty Ltd
(including registered holder)	Hurtle Myrtle Pty Ltd atf Carter Evans
Note: Provide details of the circumstances giving rise to the relevantinterest.	Super Fund. Beneficiary
Date of change	4 December 2020
No. of securities held prior to change	1. 295,806 – Performance rights
	2. 9,187,342 Stapled Securities – Mill Hill
	Capital Pty Ltd
	3. 249,123 Stapled Securities - Hurtle
	Myrtle Pty Ltd atf Carter Evans Super
	Fund
Class	1. Performance rights
	2. Stapled Securities
	3. Stapled Securities

• See chapter 19 for defined terms.

Appendix 3Y Page 1

Appendix 3Y Change of Director’s Interest Notice

Number acquired	313,643 Performance rights
Number disposed	Nil
Value/ConsiderationNote: If consideration is non-cash, provide details and estimatedvaluation	N/A
No. of securities held after change	1. 609,449 Performance rights2. 9,187,342 Stapled Securities – Mill HillCapital Pty Ltd3. 262,568 Stapled Securities - HurtleMyrtle Pty Ltd atf Carter Evans SuperFund
Nature of changeExample: on-market trade, off-market trade, exercise of options,issue of securities under dividend reinvestment plan, participation inbuy-back	Grant of performance rights

Part 2 – Change of director’s interests in contracts

Note: In the case of a company, interests which come within paragraph (ii) of the definition of “notifiable interest of a director” should be disclosed in this part.

Detail of contract N/A Nature of interest Name of registered holder (if issued securities) Date of change No. and class of securities to which interest related prior to change Note: Details are only required for a contract in relation to which the interest has changed Interest acquired Interest disposed Value/Consideration Note: If consideration is non-cash, provide details and an estimated valuation Interest after change

Part 3 –[+] Closed period

Were the interests in the securities or contracts detailed No above traded during a[+] closed period where prior written clearance was required?

• See chapter 19 for defined terms.

Appendix 3Y Page 2

Appendix 3Y Change of Director’s Interest Notice

If so, was prior written clearance provided to allow the tradeto proceed during this period?	N/A
If prior written clearance was provided, on what date was thisprovided?	N/A

• See chapter 19 for defined terms.

Appendix 3Y Page 3