16 November 2017

AFH FINANCIAL GROUP PLC

("AFH" or the "Company")

Grant of Options

The Board of AFH, a leading financial planning led investment management firm, announces that it has granted 210,000 options to the Company's Executive Directors and a further 220,000 options to other members of management, all exercisable at 250 pence per Ordinary Share, under the Company's growth share scheme. These are exercisable as to 50% after three years subject to the satisfaction of performance criteria and the remaining 50% after the fifth anniversary of grant.

^{(1) Assumes that the new Ordinary Shares issued pursuant to the Placing announced on 15 November 2017 are admitted to trading on AIM}

Following the grant of options, and assuming that the new Ordinary Shares placed pursuant to the Placing announced on 15 November 2017 are admitted to trading on AIM, the total number of options outstanding to subscribe for Ordinary Shares in the Company, will be 2,857,000, representing 7.6 per cent. of the Company's issued share capital, of which 1,345,425, representing 3.6 per cent. of the Company's issued share capital, are held by existing directors of AFH.

The notification below, made in accordance with the requirements of the EU Market Abuse Regulation, provides further detail.

Notification and public disclosure of transactions by persons discharging managerial responsibilities and persons closely associated with them