ASF GROUP LIMITED — Capital/Financing Update 2021

Jun 17, 2021

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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

18 June 2021

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

Dear Sir/Madam

Extension of Star Diamond Loan Facilities

ASF Group Limited (“ ASF” ) refers to the $23 million convertible loan facilities (“ Loan Facility ”) granted by Star Diamond Developments Limited (“ Star Diamond ”) and is pleased to announce that Star Diamond has agreed to increase the Loan Facility by $2 million to a total of $25 million and to extend the maturity date of the Loan Facility for two years to 31 October 2023.

The Loan Facility can only be converted into shares of ASF’s subsidiaries and/or the securities held by ASF or its subsidiaries. As at the date of this announcement, a total of $19.95 million Loan Facility has been drawn down with remaining $5.05 million available for further draw down by ASF.

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.

Authorised by:

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