Exercise of Options

5 February 2020

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 8,903 new ordinary shares of 10 pence each in the Company (the "New Ordinary Shares") to be admitted to trading on AIM. 8,903 New Ordinary Shares have been issued and allotted pursuant to the exercise of share options under the AFH EMI Share Option Plan. The New Ordinary Shares will rank pari passu in all respects with the existing ordinary shares of the Company.

The share options have an exercise price of £2.17. The New Ordinary Shares are expected to be admitted to trading on AIM on 11 February 2020.

Following the issue of the New Ordinary Shares, the issued share capital of the Company will comprise 42,854,712 ordinary shares of 10 pence each.

The total number of ordinary shares carrying voting rights in AFH is 42,854,712. 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 and Transparency Rules.

For further information please contact:

For the purposes of MAR and Article 2 of Commission Implementing Regulation (EU) 2016/1055, this announcement is being made on behalf of the Company by Paul Wright, Chief Financial Officer.