ASF GROUP LIMITED — Capital/Financing Update 2013

Dec 3, 2013

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ASF GROUP LIMITED

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

4 December 2013

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

Dear Sir/Madam

Execution of Formal Agreements with CMR

We refer to the announcement of ASF Group Limited (the “Company”) dated 8 November 2013 regarding the acquisition of a 68.205% equity interest in Civil & Mining Resources Pty Ltd ("CMR") for a cash consideration of $1,079,270.50 (“Acquisition”).

The Company is pleased to announce that formal agreements have been signed with CMR and its shareholders on 3 December 2013. Completion of the Acquisition is subject to certain conditions including but not limited to the approval from the Foreign Investment Review Board (FIRB).

Information about CMR

CMR is a coal exploration company incorporated in Queensland. The major assets of CMR comprise 4 Exploration Permits for Coal (EPCs) and 22 applications for EPCs in Queensland. Trading as CMR Coal it has a substantial coal tenement portfolio, with ~14,182km[2] located throughout all the major coal-bearing basins in Queensland and are situated in close proximity to operating mines, infrastructure and proven economic coal resources. CMR offers a significant portfolio of prospective future hard coking, PCI and thermal coal projects ranging from potentially immediate to longer-term development timeframes.

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 funds management 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 opportunities across various industries including resource, property, finance and travel.

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