Update regarding the Fund's Board of Nominees

To: Bucharest Stock Exchange

Financial Supervisory Authority

London Stock Exchange

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

Important events to be reported:

Update regarding the Board of Nominees of Fondul Proprietatea S.A.

Franklin Templeton International Services S.À R.L., in its capacity as alternative investment fund manager and sole director (the "Fund Manager") of Fondul Proprietatea S.A. (the "Fund"), hereby informs the investors that Mrs. Vivian Nicoli has resigned from her positions held within the Fund's Board of Nominees (the "Board") and Consultative Committees due to Mrs. Nicoli's intention to take on other commitments. The effective date of the resignation is 1 September 2020.

The appointment of a new member of the Board will be on the agenda of the next general meeting of the shareholders.

Franklin Templeton International Services S.À R.L., in its capacity of Sole Director of FONDUL PROPRIETATEA S.A.

Johan MEYER

Permanent Representative

Report date:

27 July 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 3,959,264,762.44

Paid-up share capital:

RON 3,770,082,340.44

Number of shares in issue:

7,613,970,697

Number of paid shares:

7,250,158,347

Regulated market on which the issued securities are traded:

Shares on Bucharest Stock ExchangeGDRs on London Stock Exchange