ASF GROUP LIMITED — M&A Activity 2026

Jun 1, 2026

ASF

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.asfgroup1td.com

1 June 2026

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

Dear Sir/Madam

ASF Group Completes Strategic Divestment of Coking Coal Assets

ASF Group Limited (“ASF” or the “Company”) is delighted to announce it has finalised a Share Sale and Purchase Agreement (“Agreement”) with Terra Mineral Resources Investment Limited (“TMR”). Under the terms of the Agreement, TMR will acquire all issued shares in ASF Coking Coal Pty Ltd (“ACC”) for an attractive cash consideration of A$3.08 million.

ACC is a wholly-owned non-core subsidiary of ASF, holding a portfolio of nine coal tenements located in Queensland. The Board firmly believes this strategic divestment represents an excellent outcome for the Company and all its shareholders, realising strong value from a non-core asset at a favourable market price. The capital realised from this transaction will be strategically redeployed to fuel the Company’s future growth initiatives, new investment opportunities, and strengthen its ongoing working capital position.

The transaction is scheduled for completion within fifteen (15) calendar days following the execution date of the Agreement.

About ASF Group Limited

ASF Group Limited (ASX: AFA) is a well-established, forward-thinking diversified investment company with over 40 years of successful operating history and a global investment footprint.

With deep expertise navigating evolving global markets, the Company specialises in pioneering high-value strategic trade and cross-border investment opportunities connecting Australia with international markets. Leveraging its profound market insights and extensive transnational experience, ASF consistently delivers sustainable value creation and optimised shareholder returns across its key focus sectors: property, resources, technology and financial services.

Authorised by the Board of ASF Group Limited.

For further information, please contact:
William Kuan
Company Secretary
ASF Group Limited
Ph: +612 9251 9088