NEXTED GROUP LIMITED — Board/Management Information 2018

May 14, 2018

15 May 2018

Australian Securities Exchange Limited Via e-lodgement ASX Code ICT

iCollege appoints Mr Badri Gosavi as Executive Director and CFO

Key points:

• Mr. Badri Gosavi has been appointed to the position of Executive Director and CFO for iCollege.

• Mr Stuart Usher has resigned as CFO but remains on as Company Secretary.

Alignment with strategic priorities

In February 2018, the Board of iCollege set clear strategic direction for iCollege following the merger with Manthano Ltd. The key strategic priorities relevant to this announcement are:

• Ensuring financially responsible decisions are made for the company; and

• Increasing on-shore demand through international delivery.

Details of appointment

Mr. Badri Gosavi ( Badri ) has accepted the position of iCollege CFO and as an executive director.

Badri is an iCollege top 20 investor and has been instrumental in the establishment of:

• the Birla Edutech relationship;

• the iStudy Australia (India) opportunity;

• significant opportunities currently under development in Malaysia; and

• opportunities domestically for practical course delivery at well known hospitality venues.

Badri has dual qualifications in finance and accounting from Edith Cowan University in Perth.

Badri is hands on and entrepreneurial in his approach. He brings with him a history of successful ventures including as owner of restaurants with a turnover exceeding $4.5 million and as part owner of active mineral exploration ventures in Zambia His interests extend to the recent establishment of a hospitality based labour hire company that has achieved a turnover of $500K since establishment in December 2017.

With his investment interests now being appropriately managed, Badri is keen to apply his full time attention to realising the potential of iCollege.

Mr. Ash Katta commented:

“I am delighted to see the involvement of Badri both as a Board member and on a more day to day basis as the group CFO. Badri brings with him an extensive international network and a great enthusiasm for not only the success of iCollege, but the success of all of our international students, having treaded that path himself. This appointment paves the way for further development of our shared services model and allows for additional functions to be completed effectively in house, providing significant cost savings to the company.”

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Mr Stuart Usher, who has been managing the dual role of Company Secretary and Chief Financial Officer has relinquished the role of CFO but remains involved with the company by retaining the role as iCollege's Company Secretary.

The board of iCollege wishes to thank Stuart for his efforts over the past few years and for his significant contribution to the business and welcomes his ongoing involvement as Company Secretary.

Ends –

For further Information:

Mr. Ashish Katta –

Managing Director iCollege Limited +61 8 9466 9008 ash.katta@icollege.edu.au

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