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ASF GROUP LIMITED Capital/Financing Update 2019

Dec 30, 2019

64323_rns_2019-12-30_fe99a742-372b-4e2b-ab3f-6a518848f953.pdf

Capital/Financing Update

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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

31 December 2019

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

Dear Sir/Madam

Variation of Loan Facility to Rey

ASF Group Limited (“ ASF” ) announces that it has agreed with Rey Resources Limited (“ Rey ”) to reduce the loan facility amount granted to Rey (“ Facility ”) from $3.8 million to $2 million. The parties have also agreed to extend the maturity date for the Facility from 31 December 2019 to 31 March 2020.

All other terms and conditions of the Facility remain the same.

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.

For further information, please contact:

William Kuan Company Secretary ASF Group Limited Ph: +612 9251 9088