NEXTED GROUP LIMITED — M&A Activity 2015

Sep 30, 2015

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ASX Announcement

1[st] October 2015

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

BINDING TERM SHEET EXECUTED FOR

THE ACQUISITION OF INTERLINK TECHNOLOGY SERVICES PTY LTD AND INTERLINK TECHNOLOGY PTY LTD.

HIGHLIGHTS:

• Interlink Technology Services Pty Ltd (‘ITS’) is a Registered Training Organisation (RTO Code: 31926) providing over 8 courses in the rapidly expanding and highly sought after field of Project Management.

• ITS has been operating since 2005 under the same management team, led by Mr. Tony Simmonds.

• ITS holds ASQA Delegate status allowing self regulation of all courses added to its scope of delivery.

• Total Sales for FY15 was $300,000 which generated an operating profit of $120,000 (unaudited).

• ITS currently operates on a fee for service model and provides training via contracts to a number of significant corporate organisations and Government Departments, both State and Federal.

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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• Total Purchase Price is $ 750,000, with an upfront payment of $400,000, consisting of 100% scrip. The balance of the acquisition price is subject to specific performance hurdles.

• ITS will highly compliment the iCollege group both through an expanded course offering and through diversifying into B2B Fee for service training.

ABOUT ITS

ITS is an accredited RTO, owned and nationally operated by qualified, commercially experienced and professionally certified and qualified trainers, assessors and consultants.

ITS was established to provide recognised training and practice-compliant courses leading to accredited qualifications & certifications within a range of relevant professional and career disciplines.

ITS Current Scope of Registration:

• 3 levels of Project Management

• 3 levels of Business Management

• 2 levels of Integrated Risk Management (Unique to ITS)

• Diploma of Consultancy (Unique to ITS)

• Cert IV in Bookkeeping

• Cert IV in Safety & Environmental Practices (Unique to ITS)

ITS currently holds a number of long term contracts with a number of large Corporate Organisations and State and Federal Government Departments.

Tony Simmonds, the vendor, will continue in a leadership role with ITS for a period of at least 18 months. Further, the transaction is subject to the parties executing a formal and binding SSA and satisfactory due diligence.

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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Strategic Rationale

The iCollege board has identified an incredible opportunity to expand the offering of the group as a whole through the acquisition of ITS. Not only does this acquisition provide an expansion to the geographical footprint of the company, but also through expanded scope covering highly sought after qualifications. The ITS focus on B2B and fee for service training aligns with the iCollege business model of the diversification of funding models and the sought after ASQA delegate status, which will allow the group to provide additional qualifications as and when required by client groups.

Mr Simmonds commented on the iCollege and ITS acquisition:

“The Interlink Group of companies is both excited by the opportunity to join forces with iCollege to jointly expand and further develop the offerings of ITS. Interlink Technology’s “Approved Delegate of the Australian Skills Quality Authority” status will bring another level of value to the iCollege family. We at Interlink Technology are looking forward to the exciting opportunities that will be presented from our decision to join the iCollege group.”

Mr Ross Cotton, iCollege CEO commented:

“iCollege is extremely pleased with the acquisition if ITS. The addition of a business within the group holding an Approved Delegate status allows ICT a level of self regulation which will assist with the expansion of our training offering. Additionally the ITS focus on fee for service and partnerships with key strategic customers, enhances the iCollege vision of a more diversified pricing and revenue model”

-ENDS-

For further information, please

contact:

Mr. Ross Cotton, CEO & Executive Director iCollege Limited +61 (0) 419 870 363 ross@icollege.net

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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About iCollege Limited:

iCollege (ASX: ICT) is a training organisation that has positioned itself to become one of Australia's leading online educators through growth spurred by acquisitions and current portfolio companies. Launched in 2014 to help students and workers stay relevant in an ever-changing employment environment, their development is fuelled via the use of a learning management platform – an innovative technology designed to make the e-learning experience more flexible, dynamic and mobile.

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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