Legal representation changes

To: Bucharest Stock Exchange

Financial Supervisory Authority

London Stock Exchange

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

Important events to be reported:

Legal representation changes at the level of Fondul Proprietatea S.A.

Franklin Templeton Investment Management Ltd. United Kingdom Bucharest Branch, in its capacity as Investment Manager (the "Investment Manager") of Fondul Proprietatea S.A. (the "Fund"), announces that, with effect from 5 October 2018, Mr. Dan Gheorghe, Mr. Călin Meteș, and Mr. Daniel Naftali, investment analysts will become legal representatives of the Investment Manager.

Starting with 12 December 2018, the legal representation of the Fund will be as follows:

• At the level of the Alternative Investment Fund Manager, i.e. Franklin Templeton International Services S.à r.l.: Mr. Craig Blair, Mr. Dan Gheorghe, Mr. Călin Meteș, Mr. Johan Meyer, Mr. Daniel Naftali, Mr. Mike Sommer and Mrs. Denise Voss, as permanent representatives, with Mr. Johan Meyer being also the portfolio manager of the Fund;

• At the level of the Investment Manager: Mr. Johan Meyer as CEO and legal representative and Mr. Dan Gheorghe, Mr. Călin Meteș, Mr. Daniel Naftali as legal representatives.

Franklin Templeton Investment Management Ltd. United Kingdom Bucharest Branch acting as Investment Manager of FONDUL PROPRIETATEA S.A.

Johan Meyer

Legal Representative

Report date:

5 October 2018

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 4,771,610,196.08

Paid-up share capital:

RON 4,582,427,774.08

Number of shares in issue:

9,176,173,454

Number of paid shares:

8,812,361,104

Regulated market on which the issued securities are traded:

Shares on Bucharest Stock ExchangeGDRs on London Stock Exchange