AFC Group Holdings Limited Annual Meeting Presentations

AFC VirtualShareholders Meeting
22 September 2023

Hao (Howard) Long
CFO and Chairman of the Meeting

Yang Xia
Chairman
Shuang Xia
Non- Executive
Director
Charles Cao
Non- Executive
Director
Jacky Wang
Independent
Director
JingweiMa
Non- Executive
Director
Board of Directors
David Chen
Independent
Director

Proxy Count
Proxy votes to date: 3,174 million

Dear Shareholders and Guests,
Good Afternoon and welcome to you all.
The Directors are pleased to present an improved result for the 12
months ended 31 March 2023 after severe slowdown impacted by
the spread of COVID-19.
AFC Group Holdings Limited ("AFC" or "the company") achieved
revenue growth during the FY2023 period, which was 159% higher
than the prior financial year ended 31 March 2022. This is due to
the fact that the company has been actively increasing its sales
channels in both domestic and overseas markets. The re-opening
of borders has contributed to an increase in customers and
revenue generated.

AFCreportsanetlossattributabletoshareholdersof$145,171forthis
period.Thiscompareswithanetlossattributabletoshareholdersof
$410,219forthepreviousperiod.Themajorityofexpensesidentifiedas
employeesalaries,salesincentive,anddepreciationexpenses.Nodividends
havebeendeclaredorpaidforthe12monthsended31March2023.
Theresultwasinlinewiththeboard’sexpectations.Thecompanyhasbeen
activelyandcontinuouslytakingvariousmeasurestodealwiththe
challengingenvironments.
AFC Group Holdings Limited
1.Directors will voluntarily receive no director fees to support the business
development.
2.AFC has cut down its costs through office space integration.

3.AFCattendedthe5thChinaInternationalImportExpo(CIIE)topromotethe
groupandproducts.
4.AFCishelpingandprovidingmoreopportunitiesforNewZealandsmalland
mediumenterprisestoentertheChinesemarket,AFCGrouphasactively
participatedintheChina(Anhui)5GInternationalFoodCityandthe"EFOODLINE”
globale-commerceplatform.
AFCLongviewLimited(“AFCLV”and“LongviewEstate”)
1.AFCLVcontinuestoexploreitssaleschannelsandmarketingcampaign.The
companychangesitspricingstrategyfortheWhiteDiamondwinetotargethigh-
endcustomersandincreasesales.
2.LongviewEstateactivelyparticipatedindifferentwineexhibitions,suchas
WinetopiaandNZWINERoadshows,topromotewineandincreasesales.

3. AFCLV is committed to developing export markets through launching of
marketing campaigns, such as free wine knowledge courses, White Diamond wine
tastings for the business elite, bundling of White Diamond wines with high-end
travel, and establishing White Diamond partnerships.
4. Longview Estate has taken actions to cut costs, such as better work schedules
organisation and people management.
AFC Biotechnology Manufacture Co Ltd (“AFCBIO”)
1.AFCBIO outsources its inventory storage to a third party. This has cut down the
rental fee of warehouse and other ancillary costs, such as electricity and
monitoring fee.
2.AFCBIO will cooperate with distributors to launch marketing campaigns in
domestic market to increase sales in 2024 fiscal year.

3. AFCBIO will focus on the production and sales of its key products. The re-opening
of borders will continue to bring in more customers to AFCBIO, thus generate more
sales.
In summary, by taking various measures to increase sales and save costs,
the AFC Group will continue to work hard to enable future revenue growth
and return value to our shareholders in the 2024 fiscal year. While the
company is developing itself, it will also be a good messenger of investment
and trade between New Zealand and China.
By fulfilling the corporate social responsibilities and obligations of a locally
listed company, AFC is aiming to contribute to the happiness of the people
of New Zealand and China.

Resolutions
Resolution 1: Annual Report
To receive and consider the Annual
Report, including the audit report and
financial statements, for the year ended
31 March 2023.
“That the Annual Report be received.”

Resolutions
Resolution 2: Fixing the Fees and Expenses of the
auditor
Torecordthatshareholders,authorizethedirectorstofix
thefeesandexpensesoftheauditorforthefinancialyear
ending31March2024pursuanttosection200ofthe
CompaniesAct1993andtoconsider,andifthoughtfit,to
passthefollowingordinaryresolution
”That the directors of the Company be authorised to fix the
remuneration of the auditors of the Company for the ensuing year.”

Resolutions
Resolution 3: Appointment of Director
To consider and, if thought fit, to pass
the following ordinary resolution:
“That Jianfeng (David) Chen be appointed as
an independent director of the Company.”

Thank you for attending
AFC Group Holdings Limited
VirtualAnnual Meeting

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AFC Group Holdings Limited AGM– 22 September 2023


1.0 Introduction

Good Afternoon
My name is Howard Long. I am a CFO of AFC Group Holdings Limited.

It is my pleasure to Chair the Virtual Annual General Meeting of AFC Group Holdings
Limited. This year's shareholders meeting will be held via Zoom meeting only, and
registration is required prior to attendance.

It is 2:00 pm, and it is time to start the Meeting.

- I am advised that:
o The correct notice has been given.
o We have a quorum online present, and hence we have a correctly
constituted meeting.

2.0 Welcome

I would like to welcome you all to our Virtual Annual Meeting of AFC.

The minutes of the Annual Meeting held on 22 September 2023 have been approved
by the Directors and are available for inspection.

I would like to introduce:
My fellow Directors
Yang Xia
Charles Cao
Karen Ma
Jacky Wang
Shuang Xia
David Chen

I advise that we have received 27 proxies representing 3,173,956,811 shares which
86.62% of the total valid securities voted.

I confirm that this is a meeting of shareholders of AFC Group Holdings Limited.
Shareholders have the right to attend and vote.

We have other persons here, and we note that the Chair has the option of accepting
questions or comments from non-shareholders at their absolute discretion.

I ask all shareholders to ensure that If you wish to vote on the date, you need to email
your Shareholder details CSN/Security Holder Number, your registered name and
address and your voting intentions for each Resolution or scan your proxy/voting form
to accounts@afcnz.com by 3:00 pm on Friday 22 September 2023. You also need to
have a form in case of a poll being called.

Finally, I ask that all mobile phones be turned off or to silent.

3.0 Apologies

Do we have any other apology?

There are no other apologies


4.0 Chairman’s letter

Now, I will read the following chairman’s letter.

Dear Shareholders and Guests,

Good afternoon and welcome to you all.

The Directors are pleased to present an improved result for the 12 months ended 31
March 2023 after severe slowdown impacted by the spread of COVID-19.

AFC Group Holdings Limited ("AFC" or "the company") achieved revenue growth
during the FY2023 period, which was 159% higher than the prior financial year ended
31 March 2022. This is due to the fact that the company has been actively increasing
its sales channels in both domestic and overseas markets. The re-opening of borders
has contributed to an increase in customers and revenue generated.

AFC reports a net loss attributable to shareholders of $145,171 for this period. This
compares with a net loss attributable to shareholders of $410,219 for the previous
period. The majority of expenses identified as employee salaries, sales incentive, and
depreciation expenses. No dividends have been declared or paid for the 12 months
ended 31 March 2023.

The result was in line with the board’s expectations. The company has been actively
and continuously taking various measures to deal with the challenging environments.

AFC Group Holdings Limited
1. Directors will voluntarily receive no director fees to support the business
development.
2. AFC has cut down its costs through office space integration.
3. AFC attended the 5th China International Import Expo (CIIE) to promote the
group and products.
4. AFC is helping and providing more opportunities for New Zealand small and
medium enterprises to enter the Chinese market, AFC Group has actively
participated in the China (Anhui) 5G International Food City and the
"EFOODLINE” global e-commerce platform.

AFC Longview Limited (“AFCLV” and “Longview Estate”)
1. AFCLV continues to explore its sales channels and marketing campaign. The
company changes its pricing strategy for the White Diamond wine to target
high-end customers and increase sales.
2. Longview Estate actively participated in different wine exhibitions, such as
Winetopia and NZ WINE Roadshows, to promote wine and increase sales.
3. AFCLV is committed to developing export markets through launching of
marketing campaigns, such as free wine knowledge courses, White Diamond
wine tastings for the business elite, bundling of White Diamond wines with high-
end travel, and establishing White Diamond partnerships.

4. Longview Estate has taken actions to cut costs, such as better work schedules
organisation and people management.

AFC Biotechnology Manufacture Co Ltd (“AFCBIO”)
1. AFCBIO outsources its inventory storage to a third party. This has cut down the
rental fee of warehouse and other ancillary costs, such as electricity and
monitoring fee.
2. AFCBIO will cooperate with distributors to launch marketing campaigns in
domestic market to increase sales in 2024 fiscal year.
3. AFCBIO will focus on the production and sales of its key products. The re-
opening of borders will continue to bring in more customers to AFCBIO, thus
generate more sales.

In summary, by taking various measures to increase sales and save costs, the AFC
Group will continue to work hard to enable future revenue growth and return value to
our shareholders in the 2024 fiscal year. While the company is developing itself, it will
also be a good messenger of investment and trade between New Zealand and China.
By fulfilling the corporate social responsibilities and obligations of a locally listed
company, AFC is aiming to contribute to the happiness of the people of New Zealand
and China.

5.0 Meeting Agenda

Moving on to the business of the Meeting.

The business of this Annual Meeting is set out in the Notice of Meeting sent to
Shareholders along with the explanatory notes.

The Directors have previously advised all shareholders to read the document carefully
before making any decisions.

Resolution 1: Annual Report
To receive and consider the Annual Report, including the audit report and financial
statements, for the year ended 31 March 2023.
“That the Annual Report be received.”
I move the resolution. Do we have a seconder? Thank you ______________

Is there any discussion?

I now put the resolution.

All in favour, please say Aye

Those against please say no

I declare the motion ______________

Resolution 2: Fixing the Fees and Expenses of the auditor
To record that shareholders authorise the directors to fix the fees and expenses of the
auditor for the financial year ending 31 March 2024 pursuant to section 200 of the
Companies Act 1993 and to consider, and if thought fit, to pass the following ordinary
resolution
”That the directors of the Company be authorised to fix the remuneration of the
auditors of the Company for the ensuing year.”

I move the resolution. Do we have a seconder? Thank you _______________

Is there any discussion?

I now put the resolution.

All in favour, please say Aye

Those against please say no

I declare the motion ______________

Resolution 3: Appointment of Director
To consider and, if thought fit, to pass the following ordinary resolution:

“That Jianfeng (David) Chen be appointed as an independent director of the
Company.”

I move the resolution. Do we have a seconder? Thank You Mr _____________

Is there any discussion?

I now put the resolution.

All in favour, please say Aye

Those against please say no

I declare the motion ___________


General Business

Is there any business anyone would like to raise?


Final Comment

Ladies and Gentlemen, thank you for your attendance today.
We look forward to enjoying future developments with you.

I declare the meeting closed at ____________pm
End