ASF GROUP LIMITED — Capital/Financing Update 2012

Nov 14, 2012

ASF GROUP LIMITED

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ACN 008 924 570 Bennelong, 2/3B Macquarie Street Sydney NSW 2000 Telephone: (61 2) 9251 9088 Facsimile: (61 2) 9251 9066 www.asfgroupltd.com

15 November 2012

The Manager Company Announcements Australian Stock Exchange Ltd 20 Bridge Street Sydney 2000 via: www.asxonline.com

Dear Madam/Sir

Extension of Loan Facility

ASF Group Limited (“ASF”) announced on 28 August 2012 that it had entered into a $7 million interest-free unsecured Loan Facility agreement with Star Diamond Developments Limited (“Star Diamond”), in which the Loan is repayable on maturity being 90 days after the loan drawdown date.

ASF is pleased to announce that it has entered into an amended loan agreement with Star Diamond pursuant to which the Loan maturity date has been amended from 90 days to 180 days after the date of Loan drawdown. All other terms of the Loan Facility agreement remain unchanged, including the convertibility of the Loan to equity.

Under the Loan Facility agreement, any Loan amount outstanding at the Loan maturity date will be satisfied by an issue of ASF Group Limited shares at an issue price equal to a 10% premium above the 30 day VWAP in the period immediately prior to Loan maturity. Alternatively, subject to further agreement between the parties, the Loan Facility can be fully repaid prior to Loan maturity by conversion of the loan into either one or a combination of ASF Group Limited shares or into new shares of an ASF subsidiary or investments held by such subsidiaries

Information about ASF

ASF is unique among ASX-listed public companies in Australia as a creator and facilitator of two-way cross-border investments, trade and technology transfers between China and Australia. Since its transformation into a Sino-Australian investment and trading house in 2006, ASF has focused principally on the identification, incubation and realisation of embryonic opportunities especially in the resources sector.

William Kuan Company Secretary Ph: +612 9251 9088 Fax: +612 9251 9066

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