SIF Oltenia S.A.

Annual / Quarterly Financial Statement • Apr 26, 2018

200767, Craiova, Str. Tufănele nr. 1	BVB – categoria Premium (SIF5)	Număr Registru A.S.F.: PJR071AFIAA/160004/15.02.2018
www.sifolt.ro, e-mail: public@sifolt.ro	Capital social: 58.016.571 lei	LEI (Legal Entity Identifier): 254900VTOOM8GL8TVH59
Tel.: 0251-419.397. 419.398. 419.338. 419.347	Fax: 0251-419.340	J16/1210/30.04.1993 CUI/CIF: RO 4175676

DECLARATION

This declaration is given in compliance with the provisions of art. 31 of the Accounting Law no. 82/1991 republished and art. 112¹ , par. (1), letter c) of the RNSC Regulation no. 1/2006 regarding issuers and securities operations, as further amended and supplemented, concerning the consolidated financial statements of SIF Oltenia SA, prepared as of 31 December 2017, on the extent to which they correctly depict in very significant respect, the financial position of SIF Oltenia SA and the subsidiaries included in the consolidation taken as a whole as of 31 December 2017 and the result of its operations ended on this date, in compliance with the requirements of the Romanian accounting rules, namely:

• Accounting Law no. 82/1991, republished

• ASF Rule no. 39/2015 for approval of the Accounting Regulations complying with the International Financial Reporting Standards applicable to the authorized entities, regulated and supervised by the Financial Supervisory Authority from the Instruments and Financial Investments Sector

• Regulations no. 1606/2002 of the European Parliament and the council of the European Union of 19th July 2002

and

• Law nr. 24/2017 regarding issuers of financial instruments and market operations,

by wich the Company has the obligation to prepare and submit to ASF consolidated annual financial statements, in compliance with the International Financial Reporting Standards adopted by the European Union, not later than 4 months after the end of the financial year.

We assume the responsability for the faithful presentation of the consolidated financial statements as of 31 December 2017 in compliance with the aforementioned legal regulations.

We also confirm that:

a) accountng policies used for the preparation of the consolidated annual financial statements are complying with the Accounting Regulations approved by the ASF Rule no. 39/2015;

b) consolidated annual financial statements provide an accurate picture of the financial position, financial performance and other information concerning the Group's activity.

Associate Prof. PhD. E. Tudor CIUREZU Associate Professor PhD, MBA Bușu Cristian

Chairman / General Manager Vice-Chairman / Deputy General Manager