Completion of the public tender offer

To: Bucharest Stock Exchange

Financial Supervisory Authority

London Stock Exchange

Current report according to Article 99 letter s) of the Code of the Bucharest Stock Exchange Market Operator, Title II, Issuers and Financial Instruments.

Important events to be reported:

Completion of the public tender offer in relation to acceleration of the buy-back programme 

Franklin Templeton International Services S.À R.L., in its capacity of alternative investment fund manager of Fondul Proprietatea S.A. (the "Fund"), would like to inform shareholders that the public tender offer (the "Offer") ended today.

The key results of the Offer are:

· Total subscriptions: 1,237,263,281 shares representing 549.895 % of the Offer (730,673,281 were subscribed in the form of shares and 506,590,000 shares in the form of global depositary receipts which represent the shares ("GDRs"), namely 10,131,800 GDRs)

· Allocation ratio: 0.1818529681

· Number of repurchased shares: 225,000,000 shares (132,875,150 in the form of shares and 92,124,850 shares in the form of GDRs, namely 1,842,497 GDRs);

· Purchase price: RON 2.19 per share and the USD equivalent of RON 109.5 per GDR, computed in accordance with the terms and conditions of the Tender Offer Documentation; the Fund will revert on 14 March 2023 with a further announcement regarding the exchange rate applicable for the GDRs;

· Shares Trade Date: 14 March 2023

· Settlement / payment date: 16 March 2023 for shares. With respect to GDRs, the GDR Tender Agent will no later than 16 March 2023 pay the GDRs purchase price to the Clearing Systems for further distribution to Investors whose GDRs have been accepted for purchase in the Offer.

Franklin Templeton International Services S.À R.L., in its capacity of alternative investment fund manager of FONDUL PROPRIETATEA S.A.

Johan MEYER

Permanent Representative

Report date:

13 March 2023

Name of the issuing entity:

Fondul Proprietatea S.A.

Registered office:

76-80 Buzesti Street

7th floor, district 1,

Bucharest, 011017

Phone/fax number:

Tel.: + 40 21 200 96 00

Fax: +40 31 630 00 48

Email:

[email protected]

Internet:

www.fondulproprietatea.ro

Sole Registration Code with the Trade Register Office:

18253260

Order number in the Trade Register:

J40/21901/2005

Subscribed and paid-up share capital:

RON 3,233,269,110.76

Number of shares in issue and paid-up:

6,217,825,213

Regulated market on which the issued securities are traded:

Shares on Bucharest Stock Exchange

GDRs on London Stock Exchange