ASPEN GROUP — Major Shareholding Notification 2019

Jun 13, 2019

Corporations Act 2001

Notice of ceasing to be a substantial holder

Form 605

Section 671B

To: Company Name/Scheme:

ASPEN GROUP LIMITED

ACN/ARSN: 004 160 927

1. Details of substantial holder

Name: Commonwealth Bank of Australia ACN 123 123 124 (CBA) and its related bodies corporate listed in annexure A

The holder ceased to be a substantial holder on: 13/06/2019 The previous notice was given to the company on: 16 /0 4 /201 9 The previous notice was dated: 01/06/2018

2. Changes in relevant interests

Particulars of each change in, or change in the nature of, a relevant interest of the substantial holder or an associate in voting securities of the company or scheme, since the substantial holder was last required to give a substantial holding notice to the company or scheme are as follows:

Person whose Class and Date of change relevant interest changed Nature of change Consideration given in relation to change number of securities affected Person's votes affected See annexure B to this notice

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Name and ACN/ARSN (if applicable) Nature of association

3. Changes in association

The persons who have become associates of, ceased to be associates of, or have changed the nature of their association with, the substantial holder in relation to voting interests in the company or scheme are as follows:

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4. Addresses

The addresses of persons named in this form are as follows:

Name	Address
Avanteos Investments Limited ACN 096 259 979	Ground Floor Tower 1, 201 Sussex Street, Sydney, NSW, 2000, Australia
Colonial First State Asset Management (Australia) Limited ACN 114 194 311	Ground Floor Tower 1, 201 Sussex Street, Sydney, NSW, 2000, Australia

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5. Signature

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Dated the 14 day of June 2019

Kara Nicholls - Company Secretary

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Annexure A

This is annexure A referred to in Form 605, Notice of ceasing to be a substantial holder dated 13/06/2019

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Kara Nicholls Company Secretary Dated the 14/06/2019

SCHEDULE

AEGIS CORRECTIONAL PARTNERSHIP PTY LTD AEGIS LIMITED AHL FINANCE HOLDINGS PTY LTD AHL FINANCE PTY LTD AHL HOLDINGS PTY LIMITED AHL INVESTMENTS PTY LTD ALTONA V6 PTY LIMITED ASB BANK LIMITED ASB FINANCE LIMITED ASB FUNDING LIMITED ASB GROUP (LIFE) LIMITED ASB GROUP INVESTMENTS LIMITED ASB HOLDINGS LIMITED ASB MANAGEMENT SERVICES LIMITED ASB NOMINEES LIMITED ASB SECURITIES LIMITED ASKLEPIOS LIMITED ASPIRE SCHOOLS FINANCING (QLD) PTY LIMITED ASPIRE SCHOOLS HOLDINGS (QLD) PTY LIMITED AUSSIE CENTRE ADMINISTRATION PTY LIMITED AUSSIE FINANCIAL PLANNING SERVICES PTY LTD AUSSIE HOME INSURANCE PTY LIMITED AUSSIE HOME LOANS HOLDINGS PTY LTD AUSSIE HOME LOANS PTY LIMITED AUSSIE HOME SECURITY PTY LIMITED AUSSIE MORTGAGE MARKET HOLDINGS PTY LIMITED AUSSIEHOMELOANS.COM.AU PTY LTD AUSTRALIAN HOME LOANS HOLDINGS PTY LIMITED AUSTRALIAN INVESTMENT EXCHANGE LIMITED AVANTEOS INVESTMENTS LIMITED AVANTEOS PTY LTD BANK OF HANGZHOU CO. LTD BANKWEST FOUNDATION LIMITED BDELTA VESSEL NO 1 PTY LTD BDELTA VESSEL NO 2 PTY LTD BDELTA VESSEL NO 3 PTY LTD BDELTA VESSEL NO 4 PTY LTD BOCOMMLIFE INSURANCE COMPANY LIMITED BOND INVESTMENTS NO 1 LIMITED BW FINANCIAL ADVICE LIMITED BW SECURITISATION MANAGEMENT PTY LTD BWA GROUP SERVICES PTY LTD BWA INTELLECTUAL PROPERTY HOLDINGS LIMITED CAPITAL 121 PTY LIMITED CBA A319 4624 PTY LIMITED CBA A319 4635 PTY LIMITED CBA A320 4077 PTY LTD CBA A320 4948 PTY LIMITED CBA A320 5156 PTY LIMITED CBA A320 5249 PTY LTD CBA A320 5289 PTY LTD CBA A320 5638 PTY LTD CBA A320 6749 PTY LIMITED CBA A320 AIRCRAFT NO1 PTY LTD CBA A330 1427 Pty Ltd CBA A330 1453 PTY LIMITED CBA A330 1561 PTY LTD CBA AIR A320 2714 PTY LIMITED CBA AIR PTY LTD CBA ASSET FINANCE (NZ) LIMITED

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CBA ASSET HOLDINGS (NZ) LIMITED CBA B377 37091 PTY LTD CBA B738 39822 PTY LIMITED CBA B773 60333 PTY LIMITED CBA CAPITAL AUSTRALIA PTY LIMITED CBA CAPITAL HOLDINGS INC. CBA CORPORATE SERVICES (NSW) PTY LIMITED CBA CORPORATE SERVICES (VIC) PTY LIMITED CBA DIGITAL SETTLEMENTS PTY LTD CBA ES BUSINESS SERVICES PTY LTD CBA EUROPE LIMITED CBA FUNDING (NZ) LIMITED CBA FUNDING HOLDINGS PTY LTD CBA INTERNATIONAL FINANCE PTY. LIMITED

CBA INTERNATIONAL FINANCIAL SERVICES LIMITED (formerly known as COMMBANK MANAGEMENT CONSULTING (ASIA) COMPANY LIMITED) CBA INVESTMENTS (NO.4) LIMITED CBA ISO Containers Pty Ltd CBA IT LEASING NO 3 PTY LTD CBA MTE RAIL COMPANY PTY LIMITED CBA NEW DIGITAL BUSINESSES PTY LTD CBA NZ HOLDING LIMITED CBA RAIL & TRAM COMPANY PTY LIMITED CBA ROLLING STOCK COMPANY NO.1 PTY LIMITED CBA SA HOLDINGS PROPRIETARY LIMITED CBA SAF HOLDING PTY LIMITED CBA SERVICES PRIVATE LIMITED CBA SPECIALISED FINANCING PTY LIMITED CBA USD INVESTMENTS PTY LIMITED CBFC LEASING PTY. LIMITED CBFC LIMITED CFSGAM IP HOLDINGS PTY LIMITED CFSPAI EUROPE CO LIMITED CFSPAI EUROPE HOLDCO LIMITED CIPL ARARAT PTY LTD CIPL SA SCHOOLS PTY LTD CISL (NO.1) PTY LIMITED CMG ASIA LIFE HOLDINGS LIMITED CMG ASIA PTY LTD CMLA Services Pty Ltd COLLATERAL LEASING PTY LTD Colonial (UK) Trustees Limited COLONIAL FIRST STATE ASSET MANAGEMENT (AUSTRALIA) LIMITED COLONIAL FIRST STATE GROUP LIMITED COLONIAL FIRST STATE INFRASTRUCTURE HOLDINGS LIMITED COLONIAL FIRST STATE INFRASTRUCTURE MANAGERS (AUSTRALIA) PTY LTD COLONIAL FIRST STATE INVESTMENTS LIMITED COLONIAL FIRST STATE MANAGED INFRASTRUCTURE LIMITED COLONIAL HOLDING COMPANY LIMITED COLONIAL MUTUAL SUPERANNUATION PTY. LTD. COLONIAL SERVICES PTY LIMITED COMMBANK EUROPE LIMITED COMMBANK FOUNDATION LIMITED COMMBANK MANAGEMENT CONSULTING (SHANGHAI) COMPANY LIMITED COMMFOUNDATION PTY LIMITED (PENDING DEREGISTRATION) COMMONWEALTH AUSTRALIA SECURITIES LLC COMMONWEALTH BANK OF AUSTRALIA COMMONWEALTH BANK OF AUSTRALIA (UK) STAFF BENEFITS SCHEME TRUSTEE COMPANY LIMITED COMMONWEALTH BANK OFFICERS SUPERANNUATION CORPORATION PTY LIMITED Commonwealth Custodial Services Pty Ltd COMMONWEALTH DEVELOPMENT BANK OF AUSTRALIA PTY LIMITED COMMONWEALTH FINANCIAL PLANNING LIMITED COMMONWEALTH INSURANCE HOLDINGS LIMITED COMMONWEALTH INSURANCE LIMITED COMMONWEALTH INVESTMENTS PTY LIMITED COMMONWEALTH PRIVATE LIMITED COMMONWEALTH SECURITIES LIMITED COMMWEALTH INTERNATIONAL HOLDINGS PTY LIMITED COMSEC NOMINEES PTY LIMITED CORE EQUITY SERVICES NOMINEES PTY LIMITED COUNT FINANCIAL LIMITED Credit Savvy Pty Ltd CRYSTAL AVENUE PTY LIMITED CTB AUSTRALIA LIMITED ELLAS CONTAINER SHIP COMPANY 1 PTY LIMITED ELLAS CONTAINER SHIP COMPANY 2 PTY LIMITED EMERALD HOLDING COMPANY PTY LIMITED FINANCIAL WISDOM LIMITED FINCONNECT (AUSTRALIA) PTY LTD FIRST STATE CINDA FUND MANAGEMENT COMPANY LIMITED

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First State European Diversified Infrastructure Sarl First State Funds Plc First State Global Umbrella Fund Public Limited Company FIRST STATE INFRASTRUCTURE MANAGERS (INTERNATIONAL) LIMITED First State Investment Management (UK) Limited FIRST STATE INVESTMENT MANAGERS (ASIA) LIMITED First State Investment Services (UK) Limited FIRST STATE INVESTMENTS (HONG KONG) LIMITED FIRST STATE INVESTMENTS (SINGAPORE) First State Investments (UK Holdings) Limited First State Investments (UK) Limited FIRST STATE INVESTMENTS (US) LLC First State Investments Fund Management Sarl First State Investments GIP Management Sarl FIRST STATE INVESTMENTS HOLDINGS (SINGAPORE) LIMITED First State Investments ICVC First State Investments International Limited FIRST STATE NOMINEES (HONG KONG) LIMITED FMG ASSET LEASING PTY LTD FSIB Ltd. GT USD FUNDING PTY LIMITED HAZELWOOD INVESTMENT COMPANY PTY LIMITED HOMEPATH PTY LIMITED INVERLOCH LEASING PTY LIMITED INVESTMENT CUSTODIAL SERVICES LIMITED INVESTORWEB.COM. PTY LIMITED IWL BROKING SOLUTIONS PTY LIMITED IWL PTY LIMITED JACQUES MARTIN ADMINISTRATION AND CONSULTING PTY LTD JACQUES MARTIN PTY. LTD. MIS FUNDING NO.1 PTY LIMITED MORTGAGE HOLDING TRUST COMPANY LIMITED MTE DEBT VEHICLE PTY LTD MTE LESSOR 1 PTY LTD MTE LESSOR 2 PTY LTD MTE LESSOR 3 PTY LTD MTE LESSOR 4 PTY LTD MTE LESSOR 5 PTY LTD MTE NOMINEE PARTNER PTY LTD NETSHARE NOMINEES PTY LTD NEWPORT LIMITED ORE & OVERBURDEN PTY LIMITED PREFERRED CAPITAL PTY LIMITED PREMIUM ALTERNATIVE INVESTMENTS PTY LIMITED PREMIUM CUSTODY SERVICES PTY LTD PREMIUM PLANTATIONS PTY LIMITED PREMIUM PLANTATIONS SERVICES PTY LTD PT BANK COMMONWEALTH PT COMMONWEALTH LIFE PT FIRST STATE INVESTMENTS INDONESIA QILU BANK CO. LTD. REALINDEX INVESTMENTS PTY LIMITED RELIANCE ACHIEVER PTY LIMITED RESIDENTIAL MORTGAGE GROUP PTY LTD ROCK & RUBBLE (DEBT VEHICLE) PTY LIMITED ROCK & RUBBLE (EXISTING) PTY LIMITED ROCK & RUBBLE (NEW) PTY LIMITED SAF MINING NO.2 PTY LIMITED SAF Mining No1 Pty Limited Safe No 27 Pty Ltd SAFE NO1 PTY LTD SAFE NO2 PTY LTD SAFE NO24 PTY LTD SAFE NO26 PTY LTD SAFE NO3 PTY LTD SAFE NO4 PTY LIMITED SAFE NO9 PTY LIMITED SAFE USD HOLDINGS PTY LTD SECURITISATION ADVISORY SERVICES PTY. LIMITED SECURITISATION MANAGEMENT SERVICES LIMITED SENBARY PTY LIMITED SHARE DIRECT NOMINEES PTY LIMITED SHARE INVESTMENTS PTY LIMITED SI Holdings Limited SOVEREIGN ASSURANCE COMPANY LIMITED SOVEREIGN SERVICES LIMITED SOVEREIGN SUPERANNUATION FUNDS LIMITED SOVEREIGN SUPERANNUATION TRUSTEES LIMITED ST ANDREW'S AUSTRALIA PTY LTD

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STATE NOMINEES LTD T.W. CUSTODIANS LIMITED TANKSTREAM RAIL (BY - 1) PTY LIMITED TANKSTREAM RAIL (BY - 2) PTY LIMITED TANKSTREAM RAIL (BY - 3) PTY LIMITED TANKSTREAM RAIL (BY - 4) PTY LIMITED TANKSTREAM RAIL (SW - 1) PTY LIMITED TANKSTREAM RAIL (SW - 2) PTY LIMITED TANKSTREAM RAIL (SW - 3) PTY LIMITED TANKSTREAM RAIL (SW - 4) PTY LIMITED TANKSTREAM RAIL (VICTORIA) PTY LIMITED THE COLONIAL MUTUAL LIFE ASSURANCE SOCIETY LIMITED TOTAL KEEN INVESTMENT LIMITED TYME CAPITAL PROPRIETARY LIMITED TYME INFIELD PROPRIETARY LIMITED (formerly know as EDGE FIELD MARKETING PROPRIETARY LTD) TYME INTELLECTUAL PROPERTIES PROPRIETARY LIMITED TYME INVESTMENTS PROPRIETARY LIMITED VATOSCAN PROPRIETARY LIMITED VH-VZF PTY LTD VH-VZG PTY LTD VH-VZH PTY LTD VIETNAM INTERNATIONAL BANK (VIETNAM INTERNATIONAL COMMERCIAL JOINT STOCK BANK) WESTSIDE PROPERTIES LIMITED WIZARD HOME LOANS PTY LIMITED

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Annexure B

This is annexure B referred to in Form 605, Notice of ceasing to be a substantial holder dated 13/06/2019

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Kara Nicholls Company Secretary Dated the 14/06/2019

Date of change	Person whose relevant interest changed	Nature of change	Consideration given in relation to change	Class and number of securities affected	Person's votes affected
Monday, 30 July 2018	Avanteos Investments Limited ACN 096 259 979	Sale	275.42	293 Ordinary shares	293
Monday, 04 June 2018	Colonial First State Asse Management (Australia) Limited ACN 114 194 311	t Sale	26,034.38	27,889 Ordinary shares	27,889
Monday, 04 June 2018	Colonial First State Asse Management (Australia) Limited ACN 114 194 311	t Sale	15,246.86	16,333 Ordinary shares	16,333
Tuesday, 03 July 2018	Colonial First State Asse Management (Australia) Limited ACN 114 194 311	t Purchase	13,210.76	14,054 Ordinary shares	14,054
Tuesday, 03 July 2018	Colonial First State Asse Management (Australia) Limited ACN 114 194 311	t Sale	5,471.74	5,821 Ordinary shares	5,821
Tuesday, 03 July 2018	Colonial First State Asse Management (Australia) Limited ACN 114 194 311	t Purchase	16,854.20	17,930 Ordinary shares	17,930
Tuesday, 03 July 2018	Colonial First State Asse Management (Australia) Limited ACN 114 194 311	t Purchase	14,495.74	15,421 Ordinary shares	15,421
Wednesday, 04 July 2018	Colonial First State Asse Management (Australia) Limited ACN 114 194 311	t Sale	14,495.74	15,421 Ordinary shares	15,421
Wednesday, 04 July 2018	Colonial First State Asse Management (Australia) Limited ACN 114 194 311	t Sale	16,854.20	17,930 Ordinary shares	17,930
Wednesday, 04 July 2018	Colonial First State Asse Management (Australia) Limited ACN 114 194 311	t Sale	13,210.76	14,054 Ordinary shares	14,054
Monday, 09 July 2018	Colonial First State Asse Management (Australia) Limited ACN 114 194 311	t Sale	23,674.84	25,186 Ordinary shares	25,186
Monday, 09 July 2018	Colonial First State Asse Management (Australia) Limited ACN 114 194 311	t Sale	99,422.86	105,769 Ordinary shares	105,769
Wednesday, 25 July 2018	Colonial First State Asse Management (Australia) Limited ACN 114 194 311	t Sale	135,458.35	143,115 Ordinary shares	143,115
Friday, 10 August 2018	Colonial First State Asse Management (Australia) Limited ACN 114 194 311	t Purchase	48,777.08	52,168 Ordinary shares	52,168
Wednesday, 29 May 2019	Colonial First State Asse Management (Australia) Limited ACN 114 194 311	t Sale	226,436.93	232,243 Ordinary shares	232,243

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Thursday, 06 June 2019	Colonial First State Asse Management (Australia) Limited ACN 114 194 311	t Sale	243,827.89	247,541 Ordinary shares	247,541
Friday, 07 June 2019	Colonial First State Asse Management (Australia) Limited ACN 114 194 311	t Purchase	281,618.21	285,183 Ordinary shares	285,183
Friday, 07 June 2019	Colonial First State Asse Management (Australia) Limited ACN 114 194 311	t Purchase	66,228.66	67,067 Ordinary shares	67,067
Friday, 07 June 2019	Colonial First State Asse Management (Australia) Limited ACN 114 194 311	t Purchase	324,727.86	325,607 Ordinary shares	325,607
Friday, 07 June 2019	Colonial First State Asse Management (Australia) Limited ACN 114 194 311	t Purchase	76,366.25	76,573 Ordinary shares	76,573
Wednesday, 12 June 2019	Colonial First State Asse Management (Australia) Limited ACN 114 194 311	t Sale	36,535.09	36,634 Ordinary shares	36,634
Wednesday, 12 June 2019	Colonial First State Asse Management (Australia) Limited ACN 114 194 311	t Sale	36,828.29	36,928 Ordinary shares	36,928
Wednesday, 12 June 2019	Colonial First State Asse Management (Australia) Limited ACN 114 194 311	t Sale	299,665.71	300,477 Ordinary shares	300,477
Wednesday, 12 June 2019	Colonial First State Asse Management (Australia) Limited ACN 114 194 311	t Sale	28,065.02	28,141 Ordinary shares	28,141
Thursday, 13 June 2019	Colonial First State Asse Management (Australia) Limited ACN 114 194 311	t Sale	1,933,488.70	1,757,717 Ordinary shares	1,757,717
Thursday, 13 June 2019	Colonial First State Asse Management (Australia) Limited ACN 114 194 311	t Sale	1,487,923.80	1,352,658 Ordinary shares	1,352,658
Thursday, 13 June 2019	Colonial First State Asse Management (Australia) Limited ACN 114 194 311	t Sale	926,420.00	842,200 Ordinary shares	842,200
Thursday, 13 June 2019	Colonial First State Asse Management (Australia) Limited ACN 114 194 311	t Sale	4,279,942.70	3,890,857 Ordinary shares	3,890,857
Thursday, 13 June 2019	Colonial First State Asse Management (Australia) Limited ACN 114 194 311	t Sale	1,204,544.00	1,095,040 Ordinary shares	1,095,040
Thursday, 13 June 2019	Colonial First State Asse Management (Australia) Limited ACN 114 194 311	t Sale	2,040,672.70	1,855,157 Ordinary shares	1,855,157
Wednesday, 13 June 2018	Colonial First State Investments Limited (Note 1) ACN 002 348 352	Purchase	2,351.28	2,424 Ordinary shares	2,424
Thursday, 14 June 2018	Colonial First State Investments Limited (Note 1) ACN 002 348 352	Purchase	47,422.98	49,016 Ordinary shares	49,016

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