Aspen Group Limited · ASX:APZ
Aspen — Corporate Update (May 2025)
24 slides from Aspen's corporate update, May 15, 2025
Slide 1: Aspen Group Equity Raising Presentation
Aspen Group Equity Raising Presentation 15 May 2025 Not for release to US wire services or distribution in the United States 1
Slide 2: Aspen Group
Aspen Group Owner Proprietary approach maximising sustainable returns Specialist Provider of Quality Rental for Aspen securityholders – we own 100% of all our Accommodation on Competitive properties and projects - no JV or Fund interests and Terms conflicts to consider Operator Maximising profitabil
Slide 3: Business Update
1 Business Update 3
Slide 4: Positioning Aspen for Continued Strong Growth
Positioning Aspen for Continued Strong Growth Acute ▪ Vacancy rates in most residential markets across Australia remain below 2% – rentals advertised below $400pw very limited Shortages of ▪ Economic rents for new residential supply are well above $400pw - land prices and dwelling production costs a
Slide 5: FYTD Underlying Earnings
FYTD Underlying Earnings1 FY25 10 Months 10 Months FYTD % $m (unless otherwise stated) ▪ Net Rental Income continues to grow at a healthy rate: Guidance to April 25 to April 24 Change ⁃ Long stay product is essentially full except CoVE Upper Net Rental Income2 (NRI) $35.1 $29.3 $25.9 13% Mount Grava
Slide 6: Equity Raising
2 Equity Raising 6
Slide 7: Equity Raising
Equity Raising ▪ Aspen Group, comprising Aspen Group Limited and Aspen Property Trust (Aspen), intends to undertake an equity raising comprisi ng: Equity Raising ⁃ An institutional placement to raise $70 million (the Institutional Placement) ⁃ A security purchase plan to raise up to $4 million (the
Slide 8: Financial Impact of the Equity Raising
Financial Impact of the Equity Raising Proforma impacts based on Aspen’s estimated current balance sheet post acquisition of Ravenswood and Australind, per unaudited management accounts, and current FY25 earnings and distribution guidance as if the equity had been raised and debt reduced at the star
Slide 9: Financial Impact of the Equity Raising
Financial Impact of the Equity Raising1 Sources & Applications - $m Balance Sheet - $m Current Changes Pro Forma Debt Reduction $67.7 Total Property $643 $0 $643 Equity Raising Costs $2.5 Development Inventory $40 $0 $40 Total Applications $70.2 Stake in Eureka Group (EGH) $28 $0 $28 Gross Equity Ra
Slide 10: Equity Raising Timetable
Equity Raising Timetable Key Event Date in 2025 Record Date for SPP Wednesday 14 May Trading halt and announcement of Equity Raising Thursday 15 May Institutional Placement bookbuild opens Thursday 15 May Trading halt lifted Friday 16 May Settlement of Securities issued under the Institutional Place
Slide 11: Appendix A Risks
Appendix A Risks 11
Slide 12: Appendix A: Risks
Appendix A: Risks General Risks This section discusses some of the key risks associated with an investment in Aspen. A number of risks and uncertainties may adversely affect the operating and financial performance or position of Aspen and in turn affect the value of Aspen securities. These include s
Slide 13: Appendix A: Risks
Appendix A: Risks Aspen’s business strategy is focused on growing its portfolio through acquisition, development and increasing occupancy and income across its key Business Strategy business segments. A key element of Aspen’s strategy and earnings is attributable to development and letting of new dw
Slide 14: Appendix A: Risks
Appendix A: Risks Assets are tested for impairment whenever events or changes in circumstances indicate that the carrying amount may not be recoverable. Factors Asset Impairment Risk affecting property valuations include capitalisation and discount rates, the economic growth outlook, land resumption
Slide 15: Appendix B International Offer Restrictions
Appendix B International Offer Restrictions 15
Slide 16: Appendix B: International Offer Restrictions
Appendix B: International Offer Restrictions This document does not constitute an offer of new stapled securities ("New Securities") of Aspen in any jurisdiction in which it would be unlawful. In particular, this document may not be distributed to any person, and the New Securities may not be offere
Slide 17: Appendix B: International Offer Restrictions
Appendix B: International Offer Restrictions Singapore • This document has not been registered as a prospectus with the Monetary Authority of Singapore (“MAS”) and, accordingly, statutory liability under the Securities and Futures Act 2001 (the “SFA”) in relation to the content of prospectuses does
Slide 18: Appendix C Key Terms of Placement Agreement
Key Terms of Placement Appendix C Agreement 18
Slide 19: Appendix C: Key Terms of the Placement Agreement
Appendix C: Key Terms of the Placement Agreement Aspen Group Limited (Company) and Evolution Trustees Limited as responsible entity of the Aspen Property Trust (Trust) (each, an Issuer and together, the Issuers) have entered into a placement agreement with MSTFinancial Services Pty Ltd (MST) and Ait
Slide 20: Disclaimer
Disclaimer 20
Slide 21: Disclaimer
Disclaimer This presentation has been prepared by Aspen Group Limited ("Company") and Evolution Trustees Limited as responsible entity of the Aspen Property Trust (" Trust" and together with the Company, “Aspen”) in connection with Aspen's proposed institutional placement of new securities in Aspen
Slide 22: Disclaimer continued
Disclaimer continued MST Financial Services Pty Ltd (MST) and Aitken Mount Capital Partners Pty Ltd (AMCP) (together, the "Lead Managers") are acting as joint lead managers of the Placement. None of the Lead Managers, nor any of their affiliates, related bodies corporate, directors, partners, office
Slide 23: Disclaimer continued
Disclaimer continued The Lead Managers and Aspen reserve the right to change the timetable in their absolute discretion including by closing the Placement bookbuild early or extending the Placement bookbuild closing time (generally or for particular investor(s)) in their absolute discretion (but hav
Slide 24: Slide 24