FX rate applicable to GDRs repurchased in the TO

To: Bucharest Stock Exchange

Financial Supervisory Authority

London Stock Exchange

Current report according to Article 234 para. (1) letter k) of the Financial Supervisory Authority Regulation no. 5/2018 on issuers of financial instruments and market operations, as well as the provisions of Article 99 letter s) of the Code of the Bucharest Stock Exchange, Title II, Issuers and Financial Instruments.

Important events to be reported:

Exchange rate applicable to the acquisition price for the GDRs repurchased in the public tender offer

Franklin Templeton International Services S.À R.L., in its capacity of alternative investment fund manager of Fondul Proprietatea S.A. would like to inform shareholders that the exchange rate applicable to the acquisition price for the global depository receipts ("GDRs") repurchased in the public tender offer in accordance with the tender documentation was set at RON 3.9978 per 1 USD.

As such, the USD equivalent of the purchase price of RON 69.50 per GDR, to be paid by the Fund for the GDRs, is USD 17.3845 per GDR.

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

Johan MEYER

Legal Representative

Report date:

17 December 2020

Name of the issuing entity:

Fondul Proprietatea S.A.

Registered office:

78-80 Buzesti Street

7th floor, district 1,

Bucharest, 011017

Phone/fax number:

Tel.: + 40 21 200 9600

Fax: + 40 21 200 9631

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 share capital:

RON 3,749,282,292.08

Paid-up share capital:

RON 3,560,099,870.08

Number of shares in issue:

7,210,158,254

Number of paid shares:

6,846,345,904

Regulated market on which the issued securities are traded:

Shares on Bucharest Stock Exchange

GDRs on London Stock Exchange