Share Buyback

3 July 2019

ADAMAS FINANCE ASIA LIMITED

("ADAM" or the "Company")

Share Buyback

Further to the Company's announcement dated 25 February 2019 (RNS 9382Q), ADAM has now completed the purchase of 557,196 ordinary shares of no par value in the capital of the Company for an aggregate purchase price of US$55,719.60 (the "Shares") (being a price of US$0.10 per ordinary share) from Deloitte Financial Advisory Pty Ltd. The Shares are held in treasury.

The Company's total share capital is 88,733,069 ordinary shares, of which 87,896,265 ordinary shares have voting rights and 836,804 ordinary shares are held in treasury. The figure of 87,896,265 ordinary shares may be used by shareholders in the Company as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change in their interest in, the share capital of the Company under the FCA's Disclosure and Transparency Rules.

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About Adamas Finance Asia

ADAM is a London quoted investment company focusing on delivering long-term income and capital growth to shareholders through a diverse portfolio of pan-Asian investments. It aims to provide uncorrelated returns through a combination of capital growth and dividend income from a broad spectrum of national geographies and asset classes from the Asian Small and Medium Enterprise (SME) sector.

The company's investment manager, Harmony Capital, which has a dedicated team with real Asian expertise, is focussed on the strategy of creating income and capital growth. Harmony is sourcing predominately private opportunities and has created a strong pipeline of income generating assets from potential investments in industries such as healthcare, fintech, hospitality, IT and property across Asia.