ASF GROUP LIMITED — Capital/Financing Update 2019

May 16, 2019

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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

17 May 2019

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

Dear Sir/Madam

ASF Capital – Share purchase

ASF Group Limited (the “ Company ”) is pleased to announce that it has entered into a Share Sale and Purchase Agreement (“ Agreement ”) with Clear Charm Limited (“ CC L”) for the acquisition of all of its 40.49% interest in ASF Capital Pty Ltd (“ ASFC ”) currently held by CCL at a cash consideration of A$922,000. ASFC will become a 100% owned subsidiary of the Company upon completion.

Information about the Company

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 new energy, mining & resources, property, infrastructure, venture capital and financial services.

Geoff Baker Director Ph: +612 9251 9088