AOF December 2017 Nav announcement

09 January 2018

Africa Opportunity Fund Limited (“AOF”)
Net Asset Value – Ordinary Shares

Africa Opportunity Fund Limited (SFS: AOF) announces that as at close of business on 31 December 2017, its unaudited net asset value per Ordinary share was US$0.925.

For further information please contact:

Africa Opportunity Fund Limited
Francis Daniels Tel: +2711 684 1528

Liberum (Corporate Broker)
Andrew Davis
Henry Freeman/Rob Johnson Tel: +44 20 3100 2000

For more information about AOF, see

Prior to its release, this announcement contained inside information within the meaning
of Article 7(1) of the EU Market Abuse Regulation.