NEXTED GROUP LIMITED — Capital/Financing Update 2022

Jun 14, 2022

Notification of Issue, Conversion or Payment up of Unquoted Equity Securities

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Announcement Summary

Entity name

ICOLLEGE LIMITED

Date of this announcement

Wednesday June 15, 2022

The +securities the subject of this notification are: Other

Total number of +securities to be issued/transferred

Total number of ASX +security +securities to be code Security description issued/transferred Issue date New class - code 2018 Convertible Notes 15 21/09/2018 to be confirmed

Refer to next page for full details of the announcement

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Notification of Issue, Conversion or Payment up of Unquoted Equity Securities

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Part 1 - Entity and announcement details

1.1 Name of entity

ICOLLEGE LIMITED

We (the entity named above) give notice of the issue, conversion or payment up of the following unquoted +securities.

1.2 Registered number type

ABN

Registration number

75105012066

1.3 ASX issuer code

ICT

1.4 The announcement is

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New announcement

1.5 Date of this announcement

15/6/2022

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Part 2 - Issue details

2.1 The +securities the subject of this notification are:

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Other

Please specify

Convertible Notes issued in 2018.

2.2a This notification is given in relation to an issue of +securities in a class which is not quoted on ASX and which:

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does not have an existing ASX security code ("new class")

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Part 3C - number and type of +securities the subject of this notification (new class) where issue has not previously been notified to ASX in an Appendix 3B

New +securities ASX +security code +Security description New class - code to be confirmed 2018 Convertible Notes +Security type ISIN code +Convertible debt securities Date the +securities the subject of this notification were issued 21/9/2018 Will all the +securities issued in this class rank equally in all respects from their issue date? Yes Have you received confirmation from ASX that the terms of the +securities are appropriate and equitable under listing rule 6.1? No Please provide a URL link for a document lodged with ASX setting out the material terms of the +securities being issued. Conversion price of $0.05 per Convertible Note Interest rate of 10% per annum payable monthly Expiry Date of 30 June 2022 Convertible Notes may be redeemed for cash at the election of the Company The Convertible Notes may be converted to shares at the election of the Noteholder

+Convertible debt securities Details

Type of +security Convertible note or bond +Security currency Face value Interest rate type AUD - Australian Dollar AUD 10,000.00000000 Fixed rate Frequency of coupon/interest payments per year First interest payment date Monthly Interest rate per annum Is the interest rate per annum estimated at this time? No 10.00 %

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Notification of Issue, Conversion or Payment up of Unquoted Equity Securities

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s128F of the Income Tax Assessment Act status applicable to the +security

s128F of the Income Tax Assessment Act status applicable to the +security
s128F exemption status unknown
Is the +security perpetual (i.e. no maturity)?	Maturity date
No	30/6/2022
Select other feature(s) applicable to the +security
Convertible
Redeemable
Is there a first trigger date on which a right of conversion, redemption, call
or put can be exercised (whichever is first)?
No

Details of the existing class of +security that will be issued if the securities are converted, transformed or exchanged

Other

Description

Ordinary Shares

Any other information the entity wishes to provide about the +securities the subject of this notification No Please provide any further information needed to understand the circumstances in which you are notifying the issue of these +securities to ASX, including why the issue of the +securities has not been previously announced to the market in an Appendix 3B The issue was not notified to the ASX due to an administrative error at the time. This has now been identified and the Company is rectifying ASX records. The Company now has systems in place to ensure this oversight will not occur in the future.

Issue details

Number of +securities

15

Were the +securities issued for a cash consideration?

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Yes

In what currency was the cash consideration being	What was the issue price per +security?
paid?
AUD - Australian Dollar	AUD 10,000.00000000

Purpose of the issue

To raise additional working capital

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Part 4 - +Securities on issue

Following the issue, conversion or payment up of the +securities the subject of this application, the +securities of the entity will comprise:

(A discrepancy in these figures compared to your own may be due to a matter of timing if there is more than one application for quotation/issuance currently with ASX for processing.)

4.1 Quoted +Securities (Total number of each +class of +securities quoted)

	Total number of
ASX +security code and description	+securities on issue
ICT : ORDINARY FULLY PAID	1,082,752,723

4.2 Unquoted +Securities (Total number of each +class of +securities issued but not quoted on ASX)

	Total number of
ASX +security code and description	+securities on issue
ICTAAB : OPTION EXPIRING 09-NOV-2023 EX $0.15	12,000,000
ICTAAA : OPTION EXPIRING 10-JUL-2023 EX 5C	10,000,000
New class - code to be confirmed : 2018 Convertible Notes	15

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Part 5 - Other Listing Rule requirements

5.1 Were the +securities issued under an exception in Listing Rule 7.2 and therefore the issue did not need any security holder approval under Listing Rule 7.1? No

5.2 Has the entity obtained, or is it obtaining, +security holder approval for the issue under listing rule 7.1? No

5.2b Are any of the +securities being issued without +security holder approval using the entity's 15% placement capacity under listing rule 7.1? Yes

5.2b.1 How many +securities are being issued without +security holder approval using the entity's 15% placement capacity under listing rule 7.1?

3,000,000 Ordinary Shares (if converted)

5.2c Are any of the +securities being issued without +security holder approval using the entity's additional 10% placement capacity under listing rule 7.1A (if applicable)? N/A

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