ASF GROUP LIMITED — Capital/Financing Update 2017

Jun 13, 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

14 June 2017

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

Dear Sir/Madam

Further amendments to $6M OAIL CN terms

Further to the announcement of ASF Group Limited (“ ASF ” or ” Company ”) dated 25 May 2017, the Company advises that ASF and Oceanic Alliance Investments Limited have agreed to amend the terms of the $6 million convertible note facility (“ CN ”).

The material amendments to the terms of the CN are as follows:

• (i) the maturity date of the CN is extended to 1 March 2019;

• (ii) other than conversion in the Company’s shares, the convertible notes issued under the CN (“ Notes ”) can be converted into shares of any of the Company’s subsidiaries at a mutually agreed price, subject to any necessary approvals;

• (iii) the Notes are transferrable and any such transfer must be a transfer of all the Notes held by the noteholder; and

• (iv) other than conversion of all of the Notes, the noteholder may convert 50% of the Notes held by them.

Information about ASF

ASF Group Limited (ASX: AFA) is unique among ASX-listed public companies. It is a Sino-Australian investment and trading house, which focuses principally on the identification, incubation and realization of opportunities in areas of synergy between China and Australia, UK and Europe including integrated developments, infrastructure, oil & gas, resources, property, 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