ASPU · ASPEN GROUP, INC.

The price reported in Column 4 is a weighted average price. These shares were purchased in multiple transactions at prices ranging from $0.1771 to $0.1799, inclusive. The Reporting Person undertakes to provide to Aspen Group, Inc., any security holder of Aspen Group, Inc., or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares bought at each separate price within the ranges set forth in the preceding sentence.

The Reporting Person is the General Partner of Seabreeze Capital Partners LP. The Reporting Person disclaims beneficial ownership of these securities except to the extent of his pecuniary interest therein, and the inclusion of these securities in this report shall not be deemed an admission of beneficial ownership of all of the reported securities for purposes of Section 16 or for any other purpose.

The price reported in Column 4 is a weighted average price. These shares were purchased in multiple transactions at prices ranging from $0.172 to $0.1788, inclusive. The Reporting Person undertakes to provide to Aspen Group, Inc., any security holder of Aspen Group, Inc., or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares bought at each separate price within the ranges set forth in the preceding sentence.

The Reporting Person is the General Partner of Seabreeze Capital Partners LP. The Reporting Person disclaims beneficial ownership of these securities except to the extent of his pecuniary interest therein, and the inclusion of these securities in this report shall not be deemed an admission of beneficial ownership of all of the reported securities for purposes of Section 16 or for any other purpose.

The price reported in Column 4 is a weighted average price. These shares were purchased in multiple transactions at prices ranging from $0.1795 to $0.194, inclusive. The Reporting Person undertakes to provide to Aspen Group, Inc., any security holder of Aspen Group, Inc., or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares bought at each separate price within the ranges set forth in the preceding sentence.

The Reporting Person is the General Partner of Seabreeze Capital Partners LP. The Reporting Person disclaims beneficial ownership of these securities except to the extent of his pecuniary interest therein, and the inclusion of these securities in this report shall not be deemed an admission of beneficial ownership of all of the reported securities for purposes of Section 16 or for any other purpose.

The price reported in Column 4 is a weighted average price. These shares were purchased in multiple transactions at prices ranging from $0.1699 to $0.18, inclusive. The Reporting Person undertakes to provide to Aspen Group, Inc., any security holder of Aspen Group, Inc., or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares bought at each separate price within the ranges set forth in the preceding sentence.

The Reporting Person is the General Partner of Seabreeze Capital Partners LP. The Reporting Person disclaims beneficial ownership of these securities except to the extent of his pecuniary interest therein, and the inclusion of these securities in this report shall not be deemed an admission of beneficial ownership of all of the reported securities for purposes of Section 16 or for any other purpose.

The price reported in Column 4 is a weighted average price. These shares were purchased in multiple transactions at prices ranging from $0.1799 to $0.18, inclusive. The Reporting Person undertakes to provide to Aspen Group, Inc., any security holder of Aspen Group, Inc., or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares bought at each separate price within the ranges set forth in the preceding sentence.

The Reporting Person is the General Partner of Seabreeze Capital Partners LP. The Reporting Person disclaims beneficial ownership of these securities except to the extent of his pecuniary interest therein, and the inclusion of these securities in this report shall not be deemed an admission of beneficial ownership of all of the reported securities for purposes of Section 16 or for any other purpose.

The price reported in Column 4 is a weighted average price. These shares were purchased in multiple transactions at prices ranging from $0.1554 to $0.18285, inclusive. The Reporting Person undertakes to provide to Aspen Group, Inc., any security holder of Aspen Group, Inc., or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares bought at each separate price within the ranges set forth in the preceding sentence.

The Reporting Person is the General Partner of Seabreeze Capital Partners LP. The Reporting Person disclaims beneficial ownership of these securities except to the extent of his pecuniary interest therein, and the inclusion of these securities in this report shall not be deemed an admission of beneficial ownership of all of the reported securities for purposes of Section 16 or for any other purpose.

The price reported in Column 4 is a weighted average price. These shares were purchased in multiple transactions at prices ranging from $0.145 to $0.15, inclusive. The Reporting Person undertakes to provide to Aspen Group, Inc., any security holder of Aspen Group, Inc., or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares bought at each separate price within the ranges set forth in the preceding sentence.

The Reporting Person is the General Partner of Seabreeze Capital Partners LP. The Reporting Person disclaims beneficial ownership of these securities except to the extent of his pecuniary interest therein, and the inclusion of these securities in this report shall not be deemed an admission of beneficial ownership of all of the reported securities for purposes of Section 16 or for any other purpose.

The price reported in Column 4 is a weighted average price. These shares were purchased in multiple transactions at prices ranging from $0.128 to $0.142, inclusive. The Reporting Person undertakes to provide to Aspen Group, Inc., any security holder of Aspen Group, Inc., or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares bought at each separate price within the ranges set forth in the preceding sentence.

The Reporting Person is the General Partner of Seabreeze Capital Partners LP. The Reporting Person disclaims beneficial ownership of these securities except to the extent of his pecuniary interest therein, and the inclusion of these securities in this report shall not be deemed an admission of beneficial ownership of all of the reported securities for purposes of Section 16 or for any other purpose.

Represents restricted stock units granted by the Issuer's Board of Directors, effective August 29, 2023. Each restricted stock unit represents a contingent right to receive one share of the Issuer's common stock. The grant was made under the Aspen Group, Inc. 2018 Equity Incentive Plan, was approved by the Issuer's Board of Directors and was exempt from Section 16(b) of the Securities Exchange Act of 1934 by virtue of Rule 16b-3 promulgated thereunder. The restricted stock units will vest in three approximately equal annual increments with the first increment vesting on August 29, 2024, subject to continued employment with the Issuer on each applicable vesting date.

The total amount of shares beneficially owned includes 41,666 underlying shares of common stock underlying restricted stock units which shall vest on August 16, 2024.

Represents shares issued pursuant to vested restricted stock units.

Represents shares issued pursuant to vested restricted stock units.

The price reported in Column 4 is a weighted average price. These shares were purchased in multiple transactions at prices ranging from $0.3172 to $0.3197, inclusive. The Reporting Person undertakes to provide to Aspen Group, Inc., any security holder of Aspen Group, Inc., or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares bought at each separate price within the ranges set forth in the preceding sentence.

The Reporting Person is the General Partner of Seabreeze Capital Partners LP. The Reporting Person disclaims beneficial ownership of these securities except to the extent of his pecuniary interest therein, and the inclusion of these securities in this report shall not be deemed an admission of beneficial ownership of all of the reported securities for purposes of Section 16 or for any other purpose.

The price reported in Column 4 is a weighted average price. These shares were purchased in multiple transactions at prices ranging from $0.2773 to $0.3261, inclusive. The Reporting Person undertakes to provide to Aspen Group, Inc., any security holder of Aspen Group, Inc., or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares bought at each separate price within the ranges set forth in the preceding sentence.

The Reporting Person is the General Partner of Seabreeze Capital Partners LP. The Reporting Person disclaims beneficial ownership of these securities except to the extent of his pecuniary interest therein, and the inclusion of these securities in this report shall not be deemed an admission of beneficial ownership of all of the reported securities for purposes of Section 16 or for any other purpose.

The price reported in Column 4 is a weighted average price. These shares were purchased in multiple transactions at prices ranging from $0.27 to $0.285, inclusive. The Reporting Person undertakes to provide to Aspen Group, Inc., any security holder of Aspen Group, Inc., or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares bought at each separate price within the ranges set forth in the preceding sentence.

The Reporting Person is the General Partner of Seabreeze Capital Partners LP. The Reporting Person disclaims beneficial ownership of these securities except to the extent of his pecuniary interest therein, and the inclusion of these securities in this report shall not be deemed an admission of beneficial ownership of all of the reported securities for purposes of Section 16 or for any other purpose.

The price reported in Column 4 is a weighted average price. These shares were purchased in multiple transactions at prices ranging from $0.2651 to $0.285, inclusive. The Reporting Person undertakes to provide to Aspen Group, Inc., any security holder of Aspen Group, Inc., or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares bought at each separate price within the ranges set forth in the preceding sentence.

The Reporting Person is the General Partner of Seabreeze Capital Partners LP. The Reporting Person disclaims beneficial ownership of these securities except to the extent of his pecuniary interest therein, and the inclusion of these securities in this report shall not be deemed an admission of beneficial ownership of all of the reported securities for purposes of Section 16 or for any other purpose.

The price reported in Column 4 is a weighted average price. These shares were purchased in multiple transactions at prices ranging from $0.2671 to $0.2865, inclusive. The Reporting Person undertakes to provide to Aspen Group, Inc., any security holder of Aspen Group, Inc., or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares bought at each separate price within the ranges set forth in the preceding sentence.

The Reporting Person is the General Partner of Seabreeze Capital Partners LP. The Reporting Person disclaims beneficial ownership of these securities except to the extent of his pecuniary interest therein, and the inclusion of these securities in this report shall not be deemed an admission of beneficial ownership of all of the reported securities for purposes of Section 16 or for any other purpose.

The price reported in Column 4 is a weighted average price. These shares were purchased in multiple transactions at prices ranging from $0.3324 to $0.3654, inclusive. The Reporting Person undertakes to provide to Aspen Group, Inc., any security holder of Aspen Group, Inc., or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares bought at each separate price within the ranges set forth in the preceding sentence.

The Reporting Person is the General Partner of Seabreeze Capital Partners LP. The Reporting Person disclaims beneficial ownership of these securities except to the extent of his pecuniary interest therein, and the inclusion of these securities in this report shall not be deemed an admission of beneficial ownership of all of the reported securities for purposes of Section 16 or for any other purpose.

The price reported in Column 4 is a weighted average price. These shares were purchased in multiple transactions at prices ranging from $0.3711 to $0.40, inclusive. The Reporting Person undertakes to provide to Aspen Group, Inc., any security holder of Aspen Group, Inc., or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares bought at each separate price within the ranges set forth in the preceding sentence.

The Reporting Person is the General Partner of Seabreeze Capital Partners LP. The Reporting Person disclaims beneficial ownership of these securities except to the extent of his pecuniary interest therein, and the inclusion of these securities in this report shall not be deemed an admission of beneficial ownership of all of the reported securities for purposes of Section 16 or for any other purpose.

The price reported in Column 4 is a weighted average price. These shares were purchased in multiple transactions at prices ranging from $0.4101 to $0.4373, inclusive. The Reporting Person undertakes to provide to Aspen Group, Inc., any security holder of Aspen Group, Inc., or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares bought at each separate price within the ranges set forth in the preceding sentence.

The Reporting Person is the General Partner of Seabreeze Capital Partners LP. The Reporting Person disclaims beneficial ownership of these securities except to the extent of his pecuniary interest therein, and the inclusion of these securities in this report shall not be deemed an admission of beneficial ownership of all of the reported securities for purposes of Section 16 or for any other purpose.

The shares of common stock were granted for services in 2021 as a member of the board of directors and certain committees.

The shares of common stock were granted for services in 2021 as a member of the board of directors and certain committees.

The shares of common stock were granted for services in 2021 as a member of the board of directors and certain committees.

The shares of common stock were granted for services in 2021 as a member of the board of directors and certain committees.

The shares of common stock were granted for services in 2021 as a member of the board of directors and certain committees.

The shares of common stock were granted for services in 2021 as a member of the board of directors and certain committees.

Represents restricted stock units. Each restricted stock unit represents a contingent right to receive one share of the Issuer's common stock. The grant was exempt from Section 16(b) under the Securities Exchange Act of 1934 by virtue of Rule 16b-3 promulgated thereunder as it was approved by the Compensation Committee of the Board of Directors of the Issuer, which is comprised of two non-employee directors in accordance with Rule 16b-3(d). Pursuant to the Reporting Person's Employment Agreement dated December 1, 2020 (the "Employment Agreement"), the Compensation Committee granted 15,000 restricted stock units on December 20, 2021, vesting over three years in equal annual increments beginning on December 1, 2022, subject to continued employment as an executive officer on each applicable vesting date and execution of the Issuer's standard Restricted Stock Unit Agreement.

The Compensation Committee also granted the Reporting Person pursuant to the Employment Agreement an additional 15,000 restricted stock units effective December 1, 2022, vesting in equal annual increments over a three-year period with the first vesting date on December 1, 2023, subject to continued employment as an executive officer on December 1, 2022 and each applicable vesting date and execution of the Issuer's standard Restricted Stock Unit Agreement. Vested shares of common stock will be delivered to the Reporting Person upon the vesting of the restricted stock units. In the event of a change of control of the Issuer, vesting will accelerate. The restricted stock units were issued under the Issuer's 2018 Equity Incentive Plan.

Includes 6,666 shares of common stock issuable upon vesting of restricted stock units previously granted on December 1, 2019; 13,333 shares of common stock issuable upon vesting of restricted stock units previously granted on August 12, 2020; and 10,000 shares of common stock issuable upon vesting of restricted stock units previously granted on January 6, 2021. Also includes 18,334 shares of common stock acquired from vested restricted stock units previously granted on December 1, 2019, August 12, 2020 and January 6, 2021.

The price reported in Column 4 is a weighted average price. These shares were purchased in multiple transactions at prices ranging from $5.51 to $5.58, inclusive. The Reporting Person undertakes to provide to Aspen Group, Inc., any security holder of Aspen Group, Inc., or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares bought at each separate price within the ranges set forth in the preceding sentence.

The Reporting Person is the General Partner of Seabreeze Capital Partners LP. The Reporting Person disclaims beneficial ownership of these securities except to the extent of his pecuniary interest therein, and the inclusion of these securities in this report shall not be deemed an admission of beneficial ownership of all of the reported securities for purposes of Section 16 or for any other purpose.

The price reported in Column 4 is a weighted average price. These shares were purchased in multiple transactions at prices ranging from $5.48 to $5.6362, inclusive. The Reporting Person undertakes to provide to Aspen Group, Inc., any security holder of Aspen Group, Inc., or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares bought at each separate price within the ranges set forth in the preceding sentence.

The Reporting Person is the General Partner of Seabreeze Capital Partners LP. The Reporting Person disclaims beneficial ownership of these securities except to the extent of his pecuniary interest therein, and the inclusion of these securities in this report shall not be deemed an admission of beneficial ownership of all of the reported securities for purposes of Section 16 or for any other purpose.

The price reported in Column 4 is a weighted average price. These shares were sold to cover tax obligations resulting from the vesting of restricted stock units. The shares were sold in multiple transactions at prices ranging from $5.52 to $5.53, inclusive. The Reporting Person undertakes to provide to Aspen Group, Inc., any security holder of Aspen Group, Inc., or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the ranges set forth in the preceding sentence.

Includes 13,333 shares of common stock issuable upon vesting of restricted stock units previously granted on December 1, 2019; 13,333 shares of common stock issuable upon vesting of restricted stock units previously granted on August 12, 2020; and 15,000 shares of common stock issuable upon vesting of restricted stock units previously granted on January 6, 2021. It also includes 6,667 shares of common stock acquired from vested restricted stock units previously granted on August 12, 2020.

The price reported in Column 4 is a weighted average price. These shares were purchased in multiple transactions at prices ranging from $5.43 to $5.98, inclusive. The Reporting Person undertakes to provide to Aspen Group, Inc., any security holder of Aspen Group, Inc., or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares bought at each separate price within the ranges set forth in the preceding sentence.

The Reporting Person is the General Partner of Seabreeze Capital Partners LP. The Reporting Person disclaims beneficial ownership of these securities except to the extent of his pecuniary interest therein, and the inclusion of these securities in this report shall not be deemed an admission of beneficial ownership of all of the reported securities for purposes of Section 16 or for any other purpose.

The price reported in Column 4 is a weighted average price. These shares were purchased in multiple transactions at prices ranging from $5.61 to $5.70, inclusive. The Reporting Person undertakes to provide to Aspen Group, Inc., any security holder of Aspen Group, Inc., or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares bought at each separate price within the ranges set forth in the preceding sentence.

The Reporting Person is the General Partner of Seabreeze Capital Partners LP. The Reporting Person disclaims beneficial ownership of these securities except to the extent of his pecuniary interest therein, and the inclusion of these securities in this report shall not be deemed an admission of beneficial ownership of all of the reported securities for purposes of Section 16 or for any other purpose.

The price reported in Column 4 is a weighted average price. These shares were purchased in multiple transactions at prices ranging from $5.72 to $5.98, inclusive. The Reporting Person undertakes to provide to Aspen Group, Inc., any security holder of Aspen Group, Inc., or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares bought at each separate price within the ranges set forth in the preceding sentence.

The Reporting Person is the General Partner of Seabreeze Capital Partners LP. The Reporting Person disclaims beneficial ownership of these securities except to the extent of his pecuniary interest therein, and the inclusion of these securities in this report shall not be deemed an admission of beneficial ownership of all of the reported securities for purposes of Section 16 or for any other purpose.

The price reported in Column 4 is a weighted average price. These shares were purchased in multiple transactions at prices ranging from $5.77 to $5.78, inclusive. The Reporting Person undertakes to provide to Aspen Group, Inc., any security holder of Aspen Group, Inc., or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares bought at each separate price within the ranges set forth in the preceding sentence.

The Reporting Person is the General Partner of Seabreeze Capital Partners LP. The Reporting Person disclaims beneficial ownership of these securities except to the extent of his pecuniary interest therein, and the inclusion of these securities in this report shall not be deemed an admission of beneficial ownership of all of the reported securities for purposes of Section 16 or for any other purpose.

The price reported in Column 4 is a weighted average price. These shares were purchased in multiple transactions at prices ranging from $5.60 to $5.68, inclusive. The Reporting Person undertakes to provide to Aspen Group, Inc., any security holder of Aspen Group, Inc., or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares bought at each separate price within the ranges set forth in the preceding sentence.

The Reporting Person is the General Partner of Seabreeze Capital Partners LP. The Reporting Person disclaims beneficial ownership of these securities except to the extent of his pecuniary interest therein, and the inclusion of these securities in this report shall not be deemed an admission of beneficial ownership of all of the reported securities for purposes of Section 16 or for any other purpose.

The price reported in Column 4 is a weighted average price. These shares were purchased in multiple transactions at prices ranging from $5.66 to $5.93, inclusive. The Reporting Person undertakes to provide to Aspen Group, Inc., any security holder of Aspen Group, Inc., or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares bought at each separate price within the ranges set forth in the preceding sentence.

The Reporting Person is the General Partner of Seabreeze Capital Partners LP. The Reporting Person disclaims beneficial ownership of these securities except to the extent of his pecuniary interest therein, and the inclusion of these securities in this report shall not be deemed an admission of beneficial ownership of all of the reported securities for purposes of Section 16 or for any other purpose.

The price reported in Column 4 is a weighted average price. These shares were purchased in multiple transactions at prices ranging from $5.76 to $5.98, inclusive. The Reporting Person undertakes to provide to Aspen Group, Inc., any security holder of Aspen Group, Inc., or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares bought at each separate price within the ranges set forth in the preceding sentence.

The Reporting Person is the General Partner of Seabreeze Capital Partners LP. The Reporting Person disclaims beneficial ownership of these securities except to the extent of his pecuniary interest therein, and the inclusion of these securities in this report shall not be deemed an admission of beneficial ownership of all of the reported securities for purposes of Section 16 or for any other purpose.

The price reported in Column 4 is a weighted average price. These shares were purchased in multiple transactions at prices ranging from $5.60 to $5.79, inclusive. The Reporting Person undertakes to provide to Aspen Group, Inc., any security holder of Aspen Group, Inc., or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares bought at each separate price within the ranges set forth in the preceding sentence.

The Reporting Person is the General Partner of Seabreeze Capital Partners LP. The Reporting Person disclaims beneficial ownership of these securities except to the extent of his pecuniary interest therein, and the inclusion of these securities in this report shall not be deemed an admission of beneficial ownership of all of the reported securities for purposes of Section 16 or for any other purpose.

The price reported in Column 4 is a weighted average price. These shares were purchased in multiple transactions at prices ranging from $5.52 to $5.61, inclusive. The Reporting Person undertakes to provide to Aspen Group, Inc., any security holder of Aspen Group, Inc., or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares bought at each separate price within the ranges set forth in the preceding sentence.

The Reporting Person is the General Partner of Seabreeze Capital Partners LP. The Reporting Person disclaims beneficial ownership of these securities except to the extent of his pecuniary interest therein, and the inclusion of these securities in this report shall not be deemed an admission of beneficial ownership of all of the reported securities for purposes of Section 16 or for any other purpose.

The price reported in Column 4 is a weighted average price. These shares were purchased in multiple transactions at prices ranging from $5.31 to $5.76, inclusive. The Reporting Person undertakes to provide to Aspen Group, Inc., any security holder of Aspen Group, Inc., or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares bought at each separate price within the ranges set forth in the preceding sentence.

The Reporting Person is the General Partner of Seabreeze Capital Partners LP. The Reporting Person disclaims beneficial ownership of these securities except to the extent of his pecuniary interest therein, and the inclusion of these securities in this report shall not be deemed an admission of beneficial ownership of all of the reported securities for purposes of Section 16 or for any other purpose.

The price reported in Column 4 is a weighted average price. These shares were purchased in multiple transactions at prices ranging from $5.33 to $5.78, inclusive. The Reporting Person undertakes to provide to Aspen Group, Inc., any security holder of Aspen Group, Inc., or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares bought at each separate price within the ranges set forth in the preceding sentence.

The Reporting Person is the General Partner of Seabreeze Capital Partners LP. The Reporting Person disclaims beneficial ownership of these securities except to the extent of his pecuniary interest therein, and the inclusion of these securities in this report shall not be deemed an admission of beneficial ownership of all of the reported securities for purposes of Section 16 or for any other purpose.

The price reported in Column 4 is a weighted average price. These shares were purchased in multiple transactions at prices ranging from $5.32 to $5.66, inclusive. The Reporting Person undertakes to provide to Aspen Group, Inc., any security holder of Aspen Group, Inc., or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares bought at each separate price within the ranges set forth in the preceding sentence.

The Reporting Person is the General Partner of Seabreeze Capital Partners LP. The Reporting Person disclaims beneficial ownership of these securities except to the extent of his pecuniary interest therein, and the inclusion of these securities in this report shall not be deemed an admission of beneficial ownership of all of the reported securities for purposes of Section 16 or for any other purpose.

The price reported in Column 4 is a weighted average price. These shares were purchased in multiple transactions at prices ranging from $5.37 to $5.69, inclusive. The Reporting Person undertakes to provide to Aspen Group, Inc., any security holder of Aspen Group, Inc., or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares bought at each separate price within the ranges set forth in the preceding sentence.

The Reporting Person is the General Partner of Seabreeze Capital Partners LP. The Reporting Person disclaims beneficial ownership of these securities except to the extent of his pecuniary interest therein, and the inclusion of these securities in this report shall not be deemed an admission of beneficial ownership of all of the reported securities for purposes of Section 16 or for any other purpose.

The price reported in Column 4 is a weighted average price. These shares were purchased in multiple transactions at prices ranging from $5.08 to $5.25, inclusive. The Reporting Person undertakes to provide to Aspen Group, Inc., any security holder of Aspen Group, Inc., or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares bought at each separate price within the ranges set forth in the preceding sentence.

The Reporting Person is the General Partner of Seabreeze Capital Partners LP. The Reporting Person disclaims beneficial ownership of these securities except to the extent of his pecuniary interest therein, and the inclusion of these securities in this report shall not be deemed an admission of beneficial ownership of all of the reported securities for purposes of Section 16 or for any other purpose.

The price reported in Column 4 is a weighted average price. These shares were purchased in multiple transactions ranging from $5.11 to $5.37, inclusive. The Reporting Person undertakes to provide to Aspen Group, Inc., any security holder of Aspen Group, Inc., or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares bought at each separate price within the ranges set forth in the preceding sentence.

The Reporting Person is the General Partner of Seabreeze Capital Partners LP. The Reporting Person disclaims beneficial ownership of these securities except to the extent of his pecuniary interest therein, and the inclusion of these securities in this report shall not be deemed an admission of beneficial ownership of all of the reported securities for purposes of Section 16 or for any other purpose.

The price reported in Column 4 is a weighted average price. These shares were purchased in multiple transactions at prices ranging from $5.32 to $5.58, inclusive. The Reporting Person undertakes to provide to Aspen Group, Inc., any security holder of Aspen Group, Inc., or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares bought at each separate price within the ranges set forth in the preceding sentence.

The Reporting Person is the General Partner of Seabreeze Capital Partners LP. The Reporting Person disclaims beneficial ownership of these securities except to the extent of his pecuniary interest therein, and the inclusion of these securities in this report shall not be deemed an admission of beneficial ownership of all of the reported securities for purposes of Section 16 or for any other purpose.

The Reporting Person cashlessly exercised the stock options. The exercise of the stock options was exempt under Rule 16b-6 and the right of the Reporting Person to direct that the shares be withheld in payment of the exercise price was approved in advance by the Compensation Committee of the Issuer's Board of Directors, which is comprised of only non-employee directors in accordance with Rule 16b-3(d).

The Reporting Person cashlessly exercised the stock options. The exercise of the stock options was exempt under Rule 16b-6 and the right of the Reporting Person to direct that the shares be withheld in payment of the exercise price was approved in advance by the Compensation Committee of the Issuer's Board of Directors, which is comprised of only non-employee directors in accordance with Rule 16b-3(d).