Top Education Group Ltd — Capital/Financing Update 2022

Apr 13, 2022

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TOP EDUCATION GROUP LTD

澳洲成峰高教集團有限公司

(Registered in New South Wales, Australia with limited liability) (ACN 098 139 176) (Stock code: 1752)

VOLUNTARY ANNOUNCEMENT SCOTS ENGLISH COLLEGE PTY LTD RECEIVED FURTHER INNOVATION FUND

This announcement is made by Top Education Group Ltd (the “ Company ” or “ TOP ”, together with its subsidiary, the “ Group ”) on a voluntary basis.

The board (the “ Board ”) of directors (the “ Directors ”) of the Company is pleased to announce that having successfully met the eligibility requirements of the Program Administrator (English Australia) for the Innovation Fund (Round 2), on 12 April 2022, Scots English College Pty Ltd (“ SCOTS ”), a subsidiary of the Company, a private English Language Intensive Courses for Overseas Students (“ ELICOS ”) provider, has been approved and will receive a grant of further AUD$145,500 from the Innovation Fund (Round 2), in addition to the previous grant of AUD$149,500 on 27 July 2021.

The Innovation Fund was established by the Australian Government Department of Education, Skills and Employment allowing eligible private education providers to apply for funding up to AUD$150,000, to support product innovation and investment in infrastructure, curriculum design, digital teaching solutions and staff expertise.

The further Innovation Fund can continue to support SCOTS to expand the student base offshore, enhance the students' online experience and thus build long-term relationships with them. To fulfil that aim, SCOTS has commenced to invest the funds in the development of an additional self-study English program consisting of 2 popular courses for most prospective students: 50 units of English for Academic Purposes (EAP3) and 50 units of Cambridge Exam prep (PET). SCOTS also aims to re-imagine and redesign its learning management system (“ LMS ”) platform to cater for the students' various needs.

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By order of the Board Top Education Group Ltd Min Ying Company Secretary

Sydney, Australia, 13 April 2022

As at the date of this announcement, the executive Director is Ms. Rongning Xu, the non-executive Directors are Mr. Amen Kwai Ping Lee, Mr. Thomas Richard Seymour (Mr. Kai Zhang as his alternate), Mr. Yi Dai, Mr. Edward Chiang and Ms. Xing Shi Huang, and the independent non-executive Directors are Professor Brian James Stoddart, Mr. Tianye Wang and Professor Steven Schwartz.

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