NEXTED GROUP LIMITED — Capital/Financing Update 2014

Jun 26, 2014

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27 June 2014

Dear Shareholder

PARTICIPATION IN NON-RENOUNCEABLE RIGHTS ISSUE OF LOYALTY OPTIONS

As announced to ASX on 18 June 2014, iCollege Limited ( Company ) is undertaking a nonrenounceable rights issue of one option to acquire a fully paid ordinary share in the capital of the Company (exercisable at 20 cents on or before the date which is 3 three years from the date of issue) ( Loyalty Option ) for every 3 shares held by shareholders on 2 July 2014 ( Record Date ) to raise up to A$186,736 ( Offer ).

The Offer will be fully underwritten by DJ Carmichael Pty Limited ( DJC ). In consideration for underwriting the Offer, the Company has agreed to pay to DJC a sum equal to 6% of the total amount underwritten. The Company has also agreed to issue 3 million options to DJC on the same terms as the Loyalty Options in consideration for corporate advisory services to be provided to the Company. The Company will issue these options within 3 months of completion of the Offer (at the Company’s discretion).

All holders of ordinary shares in the 100 per cent online career education provider, with a registered address in Australia or New Zealand, are entitled to participate in the Offer.

Eligible shareholders who do not intend to take up the Offer will not be able to transfer and receive value for those entitlements. They may choose to accept nothing, part or all of their entitlements.

iCollege Ltd ABN 75 105 012 066 ASX: ICT

P: (08) 6380 2555 Suite 1 Ground Floor F: (08) 9381 1122 437 Roberts Road Email: admin@icollege.net Subiaco WA 6008

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The rights attaching to the Loyalty Options together with all other relevant information relation to the Offer is set out in a prospectus which was lodged with the Australian Securities and Investments Commission and ASX on 25 June 2014 ( Prospectus ). A copy of the Prospectus, together with the Entitlement and Acceptance Form, will be sent to shareholders on or about 7 July 2014. Other key dates which shareholders should note are as follows:

Ex date	30 June 2014
Record Date for determining Entitlements	2 July 2014
Closing Date	16 July 2014
Securities quoted on a deferred settlement basis	17 July 2014
ASX notified of under subscriptions	21 July 2014
Issue of holding statements	23 July 2014
Quotation of Loyalty Options issued under the Offer	24 July 2014

Following completion of the Offer, the Company will have issued approximately 18,673,616 Loyalty Options.

The Company will apply for official quotation of the Loyalty Options issued under the prospectus.

The funds raised from the Offer will be used for working capital excluding the costs of the Offer.

Application for Loyalty Options under the Offer may only be made by completing the Entitlement and Acceptance Form which accompanies the Prospectus. Shareholders eligible to participate in the Offer should read the Prospectus carefully.

If you do not wish to participate in the Offer you do not need to take any action.

Before deciding whether to participate in the Offer, you should consider the terms of the Offer and if any doubt, consult with your professional advisor.

P: (08) 6380 2555 F: (08) 9381 1122 Email: admin@icollege.net

iCollege Ltd ACN 75 105 012 066 ASX: ICT

Suite 1 Ground Floor

437 Roberts Road Subiaco WA 6008

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Yours sincerely

CHRIS WATTS Company Secretary

iCollege Ltd ACN 75 105 012 066 ASX: ICT

Suite 1 Ground Floor

P: (08) 6380 2555 F: (08) 9381 1122 Email: admin@icollege.net

437 Roberts Road Subiaco WA 6008

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