Turbomecanica S.A.

Quarterly Report • May 15, 2015

S.C. TURBOMECANICA S.A.

244 Iuliu Maniu Blv., District 6, Postal Code 061126 Bucharest - Romania Tel.: (+4) 021 434 07 41 Fax: (+4) 021 434 09 21; (+4) 021 434 31 65 Trade Registry Code J40/533/1991 Fiscal Registration Code RO3156315 Sole Registration Code 3156315 Fully Paid Share Capital 36.944.247,50 RON www.turbomecanica.ro; e-mail: office@turbomecanica.ro

QUARTERLY REPORT ACCORDING TO LAW 297 / 2004, ARTICLE 227 AND CNVM REGULATION NO.1/2006

REPORT DATE: 31.03.2015

S.C.TURBOMECANICA S.A.

REGISTERED OFFICE : 244 Iuliu Maniu Blv., District 6, Bucharest, ROMANIA TELEPHONE / FAX: 021 434.07.41 / 021 434.09.21 TRADE REGISTRY NUMBER AND INCORPORATION DATE: J40/533/1991; FORM OF OWNERSHIP: Majority private; MAIN ACTIVITY: 3030 Manufacturing of Aircrafts and Spaceships; SOLE REGISTRATION CODE: RO3156315;

REGULATED MARKET ON WHICH SECURITIES ISSUED ARE TRADED: Bucharest Stock Exchange; CALLED-UP AND PAID IN SHARE CAPITAL: 36,944,247.50 LEI.

1. ECONOMIC AND FINANCIAL SITUATION

A. Balance Sheet Statement: comprises information related to Companies assets, liabilities liquidities and invested profit, which is reported in the Financial Statement Report and Quarterly Report as at 31 March 2015,

B. Financial Results Report: comprises information about the Companies turnover, gross revenues, and material expenses as per attached documents.

Accounting reports issued as at 31 March 2015 are not financially audited.

2. COMPANY'S ACTIVITY ANALYSIS

2.1 Tendencies, elements, events or uncertainty factors that affect or could affect liquidity:

There were no tendencies, elements, events or significant uncertainty factors that affected liquidity. An uncertainty factor likely to affect the liquidity could be that the aviation manufacturing market is in recession.

2.2. The effects on the financial statements:

Secured customer agreements have led to an increase of 56.84% in the Companies turnover, compared to the same period of the previous year (31 March 2014). The Turnover increase has triggered an increase of the operating expenses only by 12.41% compared to the same period of 2014.

2.3. Events, transactions, economic changes that significantly affect the revenues generated by the main activity:

At the end of Q1 2015, the Company achieved operating revenues in amount of RON 12,758,972 and operating expenses amounting to RON 10,330,113.

The largest share of the recorded revenues is related exclusively to the production activities, in line with the main production profile of the Company.

3. CHANGES AFFECTING THE SHARE CAPITAL AND MANAGEMENT OF THE COMPANY.

3.1 Cases in which TURBOMECANICA S.A. was unable to respect its financial obligations:

There were no cases in which the Company failed to comply with its financial obligations.

3.2 Amendments to the rights of the securities holders issued by TURBOMECANICA S.A.:

There were no amendments during the reporting period.

Issues that were discussed with securities holders: there were no special events during the period 01 January 2015 - 31 March 2015.

All matters discussed in the Extraordinary General Meeting of Shareholders dated 07 January 2015 have been published in the current report issued on 07 January 2015.

$\overline{\bf{4}}$ ANNEXES:

-MANAGEMENT REPORT as at 31.03.2015. -FINANCIAL STATEMENT REPORT as at 31.03.2015; -FINANCIAL RESULTS REPORT as at 31.03.2015 -ECONOMIC AND FINANCIAL INDICATORS as at 31.03.2015

ECONOMIC/COMMERCIAL MANAGER Ec. ANGHEL OLYMPIA