ASPEN GROUP — Director's Dealing 2022

Aug 31, 2022

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	1 June 2022

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(including registered holder)Note: Provide details of the circumstances giving rise to the relevantinterest.	Indirect: Mill Hill Capital Pty LtdHurtle Myrtle Pty Ltd atf Carter EvansSuper Fund. BeneficiaryLorwestPtyLtdatfLorwestTrust.BeneficiaryRupert Baroona Pty Ltd atf Carter Trust.Beneficiary
Date of change	31 August 2022
No. of securities held prior to change	1. 881,396 Performance rights2. 9,187,342 Stapled Securities – Mill HillCapital Pty Ltd3. 1,368,162 Stapled Securities - HurtleMyrtle Pty Ltd atf Carter Evans SuperFund4. 39,885 Stapled Securities - LorwestPty Ltd atf Lorwest Trust5. 1,299,536 Stapled Securities - RupertBaroona PtyLtd atf Carter Trust
Class	Stapled Securities

• See chapter 19 for defined terms.

Appendix 3Y Page 1

Appendix 3Y Change of Director’s Interest Notice

Number acquired	4. 295,807StapledSecurities-Lorwest Pty Ltd atf Lorwest Trust
Number disposed	1. 295,807 performance rights
Value/ConsiderationNote: If consideration is non-cash, provide details and estimatedvaluation	Nil consideration. Securities are issued onconversion of performance rights, as partof LTIEstimate price $1.055 per stapled security
No. of securities held after change	1. 585,589 Performance rights2. 9,187,342 Stapled Securities – Mill HillCapital Pty Ltd3. 1,368,162 Stapled Securities - HurtleMyrtle Pty Ltd atf Carter Evans SuperFund4. 335,692 Stapled Securities - LorwestPty Ltd atf Lorwest Trust5. 1,299,536 Stapled Securities - RupertBaroona Pty Ltd atf Carter Trust
Nature of changeExample: on-market trade, off-market trade, exercise of options,issue of securities under dividend reinvestment plan, participation inbuy-back	Issue of stapled securities on conversion ofperformance rights issued in December2019

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 whichinterest related prior to changeNote: Details are only required for a contract inrelation to which the interest has changed
Interest acquired
Interest disposed
Value/ConsiderationNote: If consideration is non-cash, provide detailsand an estimated valuation

• See chapter 19 for defined terms.

Appendix 3Y Page 2

Appendix 3Y Change of Director’s Interest Notice

Interest after change

Part 3 –[+] Closed period

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

• See chapter 19 for defined terms.

Appendix 3Y Page 3