Shareholding structure as of date 7 September 2017

To: Bucharest Stock Exchange

Financial Supervisory Authority

London Stock Exchange

Current report according to the provisions of Article 99 of the Code of the Bucharest Stock Exchange, Title II, Issuers and Financial Instruments.

Important events to be reported:

Shareholding structure and total number of voting rights as at 7 September 2017 - considered as "Reference Date"

The shareholding structure and total number of voting rights at the level of Fondul Proprietatea SA ("The Fund") as at 7 September 2017, considered as the "Reference Date" for the Fund's Extraordinary and Ordinary General Shareholders' Meetings to be held on 26 September 2017, as received from Depozitarul Central SA, were as follows:

The total number of shareholders was 6,587 and the total number of voting rights was 8,799,201,495.

Please note that the right to attend and to vote in the Fund's Extraordinary and Ordinary General Shareholders' Meetings scheduled for 26 September 2017 belongs to all shareholders registered in the Fund's shareholders' register held by Depozitarul Central SA at the end of 7 September 2017, considered as "Reference Date".

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

Adrian CIGHI

Legal Representative

Report date:18 September 2017

Name of the issuing entity: Fondul Proprietatea S.A.

Registered office: 78-80 Buzesti St.,7th floor, district 1, Bucharest, postal code 011017

Phone/fax number: Tel.: + 40 21 200 9600 Fax: + 40 21 200 9631

Sole Registration Code with the Trade Register Office:18253260

Order number in theTrade Register:J40/21901/2005

Subscribed share capital: RON 5,238,521,987.92

Paid-up share capital:RON 5,049,339,565.92

Number of shares in issue:

10,074,080,746

Number of paid shares:

9,710,268,396

Regulated market on which the issued securities are traded:Shares on Bucharest Stock Exchange

GDRs on London Stock Exchange