Registration of the updated Constitutive Act

To: Bucharest Stock Exchange

Financial Supervisory Authority

London Stock Exchange

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

Important events to be reported:

Registration with the Trade Registry Office of Bucharest Court of the updated Constitutive Act of Fondul Proprietatea SA

Franklin Templeton International Services S.À R.L., in its capacity as Alternative Investment Fund Manager and sole director of Fondul Proprietatea SA (the "Fund"), would like to inform shareholders that on 7 May 2021, the Constitutive Act of the Fund as updated based on the Extraordinary General Shareholders' Meeting Resolution no. 2 of 28 April 2021 ("EGSM Resolution no. 2 / 28 April 2021") was registered with the Trade Registry Office of Bucharest Court ("Trade Registry Bucharest").

Through EGSM Resolution no. 2 / 28 April 2021, the Fund's shareholders approved the amendment of art. 33 in the form already approved by the Financial Supervisory Authority through Endorsement no. 38 / 8 February 2021 (the FSA Endorsement was brought to shareholders' attention through the current report issued on 17 February 2021).

Thus, according to the provisions of art. 34 para. (4) of Regulation no. 7/2020 on the authorization and functioning of alternative investment funds, the Constitutive Act of the Fund updated through EGSM Resolution no. 2 / 28 April 2021 is in force starting with the registration date with Trade Registry Bucharest, respectively from 7 May 2021.

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

Johan MEYER

Permanent Representative

Report date:

10 May 2021

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 ExchangeGDRs on London Stock Exchange