NEXTED GROUP LIMITED — Capital/Financing Update 2016

Feb 22, 2016

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23 February 2016

Australian Securities Exchange Limited Via e - lodgement – ASX Code ICT

ICOLLEGE SIGNS EXCLUSIVE LOI WITH PROFIRE LLC IN THE UNITED ARAB EMIRATES

The iCollege Ltd Executive team is pleased to announce that a formal and exclusive Letter of Intent has been signed with Profire LLC in the United Arab Emirates for the purposes of investigating the establishment of Training Facilities providing Australian Qualifications.

Profire LLC provides a large number of safety audit and fire services across the UAE. The current scope of services is currently being expanded and will include Vocational Training facilities. Profire will provide the local experience and representation, working with their shareholders to expand training delivery.

iCollege currently offers over 100 Qualifications across 22 different industries and would look to replicate this scope at each of the proposed facilities. Profire LLC will facilitate appropriate licenses and introductions to provide the venture every opportunity for success. Wherever possible both parties will seek to employ local staff, where there is not a suitable level of experience both parties will provide training to national personnel under the guidance of experienced staff.

This LOI provides a formal and exclusive arrangement with Profire for the purpose of exploring the establishment of a number of Vocational Training Facilities in the United Arab Emirates. These facilities are intended to blend in with the Profire nationalisation program. All centres will provide accredited training under the Australian Standard and qualifications recognised in both the UAE and Australia will be issued.

Profire Managing Director Rick Parish commented “Profire is excited to partner with iCollege to assist in our national delivery of internationally accredited training programs in every emirate". The Australian training framework provides a formalised and accredited system which will enhance the delivery of competency based training through our organisation"

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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About Profire LLC:

Profire LLC is a Limited Liability company registered in the United Arab Emirates.

Profire Safety Consultants JSC (UAE) has been tasked with providing professional Inspection and Audit Services across the seven Emirates increasing the standards of public safety. The scope of Audit and Inspection includes: Fire Safety, Electrical Safety, Elevator Safety, Agricultural Food Safety, Food Control and Hygiene, Building Safety and Building Fire and Safety Compliance. All services including training will be provided in accordance with UAE, Australian and international standards.

About iCollege Limited:

iCollege Limited is an ASX listed training organisation positioned to become one of Australia's leading educators.

iCollege has a demonstrated commitment and clear strategy to provide ethical and sustainable training to Australian students through over 170 accredited and non-accredited courses. This has enabled the Company to achieve high quality student outcomes, including course completion rates of over 70 per cent of students, against an industry average of around 35 per cent. iCollege students have excellent employment prospects upon graduation and are assisted through iCollege’s growing network of strategic partnerships with peak industry bodies, like the Western Australian Business Association and Clubs Queensland.

-ENDS-

For further Information:

Mr Ross Cotton, Executive Chairman

iCollege Limited

+61 (0) 419 870 363 ross.cotton@icollege.edu.au

iCollege Ltd ACN 75 105 012 066 ASX: ICT

Suite 1 Ground Floor 437 Roberts Road Subiaco WA 6008

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

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