ASF GROUP LIMITED — Capital/Financing Update 2017

Nov 9, 2017

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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

10 November 2017

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

Dear Sir/Madam

REPAID - $10 million Convertible Notes

ASF Group Limited (“ ASF ”) refers to the (i) $7.5 million unsecured convertible notes issued in August 2015; and (ii) $2.5 million unsecured convertible notes issued in June 2016 (together the “$10M Notes ”) and is pleased to announce that it has fully repaid the $10M Notes together with accrued interest to the noteholders today.

Accordingly, the Convertible Note deeds entered into with each of the respective noteholders will be terminated forthwith and will be of no further force or effect.

Information about ASF

ASF Group Limited (ASX: AFA) is unique among ASX-listed public companies as it powers business between the East and West. ASF is an investment and trading house which focuses principally on the identification, incubation and realization of opportunities in areas of synergy between China, Australia, UK and Europe including oil & gas, resources, property, infrastructure, travel and financial services sectors.

ASF is part of the S&P/ASX All Ordinaries Index (AOI) which consists of the largest 500 companies listed on the ASX.

Geoff Baker Director Ph: +612 9251 9088