AFC Annual General Meeting Presentation 30 September 2021

AFC VirtualShareholders Meeting
30 September 2021

Hao (Howard) Long
CFO and Chairman of the Meeting

Yang Xia
Chairman
John Li
Independent
Director
Charles Cao
Non-Executive
Director
Jacky Wang
Independent
Director
JingweiMa
Non-Executive
Director
Board of Directors

Dear Shareholders and Guests,
Good Afternoon and welcome to you all.
The spread of COVID-19 has severely impacted many
local economies around the globe. In New Zealand,
businesses are being forced to cease or limit operations
for long or indefinite periods of time. Measures taken to
contain the spread of the virus, including travel bans,
quarantines, social distancing, and closures of non-
essential services have triggered significant
disruptions to businesses, resulting in an economic
slowdown.

The fiscal year 2021 is a challenging year for AFC Group Holdings
Limited and its subsidiaries ("AFC"), but ACF has been actively
and continuously taking various measures to deal with various
challenges.
AFC Group Holdings Limited
1. Independent directors of AFC will continue to take a 30%
reduction in remuneration. Other directors will voluntarily
receive no director fees.
2. AFC is prepared to lease its office which can cut down on more
than $120,000 expenses.
3. AFC attended the 3rd China International Import Expo (CIIE) to
promote the group and products.

4.AFCemployedmoreseniorpersonnelwhocanbringsalesandprofit
tothegroup.
5.AFCishelpingandprovidingmoreopportunitiesforNewZealand
smallandmediumenterprisestoentertheChinesemarket,AFCGroup
hasactivelyparticipatedintheChina(Anhui)5GInternationalFoodCity
andthe"EFOODLINE”globale-commerceplatform.
AFCLongviewLimited(“AFCLV”and“LongviewEstate”)
1. AFCLV has updated its pricing strategy and launched the marketing
campaign “White Diamond is back to the community”. The pricing
strategy and marketing campaign was allowing more people to gain
access to the White Diamond Wine.

2. Longview Estate has also participated in different wine exhibitions,
such as Winetopiaand NZ WINE Roadshows, to promote wine and
increase sales.
3. Longview Estate has taken actions to cut costs, such as better work
schedules organisation and people management.
4. Longview Estate intends to revaluate its land. It will be a change of
accounting policies from historical value to fair value.
AFC Biotechnology Manufacture Co Ltd (“AFCBIO”)
1. AFCBIO has restructured successfully which cut down more than
$150,000 costs.
2. AFCBIO continuously reduced costs by preparing to sublease its
premises.

3. AFCBIO will increase the use of online distribution channels in 2021.
Examples include continuously using the shoppertainmentto promote
masks, Jingdong, Wei Pin Hui and Staff Live Stream on Tmall.
4. Signed MOU with new distributors in China to sell in duty-free shops
in China.
In summary, the AFC Group will continue to work hard to enable future
revenue growth and return value to our shareholders in the 2022 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.

Thank you!

Proxy Count
Proxy votes to date: 1,957 million

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 2021.
“That the Annual Report be received.”

Resolutions
Resolution 2: Appointment of Auditor
TorecordthattheCompany’sAuditorsWilliamBuckis
reappointedasauditorspursuanttosection200ofthe
CompaniesAct1993andtoconsider,andifthoughtfit,to
passthefollowingordinaryresolution
“ShareholderapprovalissoughttoreappointtheCompany’s
AuditorsWilliamBuckasauditors.”

Resolutions
Resolution 3: Fixing the Fees and Expenses of the
auditor
Torecordthatshareholderauthorisethedirectorstofixthe
feesandexpensesoftheauditorforthefinancialyear
ending31March2022pursuanttosection200ofthe
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 4: Re-election of Director
To consider and, if thought fit, to
pass the following ordinary
resolution pursuant to NZX Listing
Rule 3.3.6:
“That Bo Xian (Charles) Cao, who retires by
rotation and is eligible for re-election, be
elected as a director of the Company.”

Resolutions
Resolution 5: Re-election of Director
To consider and, if thought fit, to
pass the following ordinary
resolution pursuant to NZX Listing
Rule 3.3.6:
“That Qiang(John) Li, who retires by
rotation and is eligible for re-election, be
elected as a director of the Company.”

Resolutions
Resolution 5: Re-election of Director
To consider and, if thought fit, to
pass the following ordinary
resolution pursuant to NZX Listing
Rule 3.3.6:
“That Zilei(Jacky) Wang, who retires by
rotation and is eligible for re-election, be
elected as a director of the Company.”

Resolutions
Resolution 5: Re-election of Director
To consider and, if thought fit, to
pass the following ordinary
resolution:
“That Jingwei(Karen) Ma, having been
appointed since the last annual meeting
and who therefore retires and is eligible for
election, be elected as a director of the
Company.”

Thank you for attending
AFC Group Holdings Limited
VirtualAnnual Meeting

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AFC Group Holdings Limited AGM– 30 September 2021


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. AFC has considered the current Auckland level 3 lockdown and the expected
social distancing restrictions and decided not to offer the Annual Shareholders’
Meeting in person this year. Therefore, shareholders can attend the Meeting through
a Zoom meeting only.


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.
- I advise that we have received 23 proxies representing 1,956,617,391 shares
which 53.4% of the total valid securities voted.


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 30 September 2021 have been approved
by the Directors and are available for inspection.

I would like to introduce:
My fellow Directors
Yang Xia
John Li
Charles Cao
Karen Ma
Jacky Wang

The Deputy General Manager of AFC Group Holdings Limited, Kelly Hu.

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 Thursday 30 September 2021. 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 Meeting Agenda

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.

Moving on to the business of the Meeting.

Resolution 1: Annual Report
To receive and consider the Annual Report, including the audit report and financial
statements, for the year ended 31 March 2021.
“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: Appointment of Auditor
To record that the Company’s Auditors William Buck is reappointed as auditors
pursuant to section 200 of the Companies Act 1993 and to consider, and if thought fit,
to pass the following ordinary resolution

”That the Company’s Auditors William Buck is reappointed as auditors.”

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: Fixing the Fees and Expenses of the auditor
To record that shareholder authorise the directors to fix the fees and expenses of the
auditor for the financial year ending 31 March 2022 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 4: Re-election of Director
To consider and, if thought fit, to pass the following ordinary resolution pursuant to
NZX Listing Rule 3.3.6:

“That Bo Xian (Charles) Cao, who retires by rotation and is eligible for re-
election, be elected as a director of the Company.”

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 5: Re-election of Director
To consider and, if thought fit, to pass the following ordinary resolution pursuant to
NZX Listing Rule 3.3.6:

“That Qiang (John) Li, who retires by rotation and is eligible for re-election, be
elected 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 ___________


Resolution 6: Re-election of Director
To consider and, if thought fit, to pass the following ordinary resolution pursuant to
NZX Listing Rule 3.3.6:

“That Zilei (Jacky) Wang, who retires by rotation and is eligible for re-election,
be elected 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 ___________

Resolution 7: Re-election of Director
To consider and, if thought fit, to pass the following ordinary resolution:

“That Jingwei (Karen) Ma, having been appointed since the last annual meeting
and who therefore retires and is eligible for election, be elected as a 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