Supporting materials ref. the 26 April 2016 GSM

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, Title II, Issuers and Financial Instruments.

Events to be reported:

Supporting materials related to the 26 April 2016 Shareholders' Meetings

Franklin Templeton Investment Management Ltd. United Kingdom Bucharest Branch ("the Fund Manager"), in its capacity as sole director and fund manager of Fondul Proprietatea SA ("the Fund"), would like to remind shareholders that the Fund Manager has summoned both an extraordinary ("EGM") and ordinary ("OGM") meeting of the Fund's shareholders for 26 April 2016, at "Radisson Blu" Hotel, 63-81 Calea Victoriei Street, Atlas Room, 1st District, Bucharest, Romania, starting at 15:00 o'clock, Romanian time.

The entire EGM and OGM supporting documentation, including

- the initial agenda and the supplemented one following the request of a shareholder owning more than 5% of the share capital to add a new point on the EGM agenda, included therein as voting point 6,

- the updated forms of the special power of attorney and correspondence vote, as a result of the request above-mentioned and the proposals made for the Board of Nominees positions,

are available for the shareholders' reference on the Fund's web page at: http://www.fondulproprietatea.ro/investor-relations/gsm-information/gsm-documentation.

The Fund Manager recommends that shareholders vote in favour of all the points on the EGM and OGM agenda, except for the following:

- point 6 on the EGM agenda (e.g. the amendment of Article 19 paragraph (3) of the Constitutive Act), where the Fund Manager refrains from making any recommendation, as the proposal relates to the process for selection of a new manager "in the case that shareholders vote to replace the Fund Manager" and the Fund Manager remains independent of that decision process; and

- point 4 on the OGM agenda (e.g. the appointment of two members of the Board of Nominees), where the Fund Manager refrains from making any recommendation, as the candidates are nominated and decided by the shareholders and the Fund Manager remains independent of that decision process.

The Fund Manager's voting recommendations contained herein are not binding in any way and should not be deemed under any circumstances as a supporting documentation/argument for substantiating one's vote, shareholders being free to decide on the manner they vote for each item on the agenda. The Fund Manager will implement and will comply with all the decisions taken by the Fund's shareholders, irrespective of its recommendations herein, subject to compliance with law and regulation.

Franklin Templeton Investment Management Ltd. United Kingdom Bucharest Branch, in its capacity of Sole Administrator of FONDUL PROPRIETATEA S.A.

Oana Valentina Truta

Legal Representative

Report date:24 March 2016

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 9,869,265,720.90

Paid-up share capital:RON 9,541,834,605.90

Number of shares in issue:

10,965,850,801

Number of paid shares:

10,602,038,451

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

GDRs on London Stock Exchange