Exercise of Options

12 February 2021

AFH Financial Group plc

("AFH" or the "Company")

(AIM: AFHP)

Exercise of Options

The Board of AFH, a leading financial planning led investment management firm, announces that application has been made for 8,400 new ordinary shares of 10 pence each in the Company (the "New Ordinary Shares") to be admitted to trading on AIM. 3,230 New Ordinary Shares have been issued and allotted pursuant to the exercise of share options under the AFH Financial Group Plc CSOP, 665 New Ordinary Shares have been issued and allotted pursuant to the exercise of share options under the AFH EMI Share Option Plan and 4,505 New Ordinary Shares have been issued and allotted pursuant to the exercise of share options under the AFH Growth Share scheme. The New Ordinary Shares will rank pari passu in all respects with the existing ordinary shares of the Company.

2,000 of the share options have an exercise price of £2.92, 665 of the share options have an exercise price of £1.505, 1,230 of the share options have an exercise price of £1.625 and 4,505 of the shares have an exercise price of £1.73. The New Ordinary Shares are expected to be admitted to trading on AIM on 18 February 2021.

Following the issue of the New Ordinary Shares, the issued share capital of the Company will comprise 42,992,038 ordinary shares of 10 pence each.

The total number of ordinary shares carrying voting rights in AFH is therefore 42,992,038. This figure will represent the total voting rights in the Company and may be used by shareholders as the denominator for the calculations by which they will determine if they are required to notify their interest in, or change to their interest in, or a change to their interest in the Company under the Financial Conduct Authority's Disclosure Guidance and Transparency Rules.

For further information please contact:

AFH Financial Group PLC 01527 577 775

Alan Hudson, Chief Executive Officer

Paul Wright, Chief Financial Officer

Shore Capital (Nominated Adviser and Sole Broker) 020 7408 4090

Hugh Morgan / Daniel Bush / Sarah Mather

Yellow Jersey PR Limited (Financial PR) 07748 843 871

Joe Burgess / Annabel Atkins / Dom Barretto