SIF Banat Crisana S.A.

Audit Report / Information • Feb 3, 2020

ADDRESS CALEA VICTORIEI 35A ARAD 310158 ROMANIA • TEL +40257 304 438 • FAX +40257 250 165 • EMAIL SIFBC@SIF1.RO • INTERNET WWW.SIF1.RO

CURRENT REPORT

according to Regulation no. 5/2018 and Law no. 24/2017 on issuers of financial instruments and market operations

Report date: January 31, 2020

Issuer Societatea de Investiții Financiare Banat-Crișana SA (SIF Banat-Crișana) | Registered office 35A Calea Victoriei, Arad 310158, Romania | Phone +40257 304 438 | Fax +40257 250 165 | Webpage www.sif1.ro | Email sifbc@sif1.ro| Tax Identification Code RO2761040 | Trade Register Number J02 / 1898 / 02.09.1992 | Number In ASF AFIAA Register PJR07.1AFIAA / 020007 / 09.03.2018 | Number In ASF SIIRS Register PJR09SIIR / 020002 / 02.02.2006 | Legal Entity Identifier (LEI) 254900GAQ2XT8DPA7274 | Subscribed and paid-up share capital RON 51,746,072.40 | Regulated market on which the issued securities are traded: Bucharest Stock Exchange (BVB) Premium category (symbol: SIF1)

Important event to be reported:

Auditor report as per art. 82 of Law no. 24/2017

SIF Banat-Crișana, in compliance with the provisions of article 82 of Law no. 24/2017 and article 144 of ASF Regulation no. 5/2018, submits the Limited Independent Assurance Report on the information included in the current reports prepared by the company in accordance with the provisions of Law no. 24/2017 and Regulation no. 5/2018, prepared by the financial auditor Deloitte Audit SRL concerning the transaction reported by the company on 07.10.2019 with the company Administrare Imobiliare SA Bucharest, a SIF Banat-Crișana subsidiary.

The report of the financial auditor Deloitte Audit SRL is attached to this current report.

Chairman and CEO Bogdan-Alexandru DRĂGOI

Compliance Officer, Eugen Cristea

Deloitte.

Deloitte Audit S.R.L. Clădirea The Mark Tower Calea Grivitei nr. 82-98 Sector 1, 010735 București, România

Tel.: +40 21 222 16 61 Fax: +40 21 222 16 60 www.deloitte.ro

LIMITED INDEPENDENT ASSURANCE REPORT ON THE INFORMATION INCLUDED IN THE CURRENT REPORT PREPARED BY THE COMPANY IN ACCORDANCE WITH THE PROVISIONS OF LAW NO. 24/2017 AND REGULATION NO. 5/2018

To the Shareholders and Board of Directors Societatea de Investitii Financiare Banat-Crisana SA Arad, Romania

Object of the independent auditor's report

In accordance with the provisions of art, 144. B of Regulation no. 5/2018 issued by the Financial Supervisory Authority ("the FSA"), and further to your request, we have been engaged to report on the information included in the current report sent by Societatea de Investitii Financiare Banat-Crisana SA ("the Company") to the Bucharest Stock Exchange ("the BSE") and the FSA, listed in Appendix A, regarding the transaction concluded by the Company with her subsidiary. The report included in Appendix A have been prepared by the Company's management in order to report to the FSA pursuant to the requirements of Law no. 24/2017 art. 82 (1) - (4) and Requiation no. 5/2018 art. 144.B (1) - (3). referred here as "the Regulation".

Responsibility of the Company's management

Management is responsible for the preparation and fair presentation of Appendix A, that is free from material misstatement, in accordance with the Regulation, and for the information presented therein. Such responsibility implies the design, implementation and maintenance of such internal control relevant to the preparation and presentation of the information disclosed in Appendix A, that is free from material misstatement, whether due to fraud or error. Also, such responsibility implies the compliance with the Regulation and keeping of proper supporting documents in relation to Appendix A. The Company's management is responsible for preventing and identifying fraud and ensuring that the Company complies with the legislation and regulations in force.

Auditor's Responsibility

Our responsibility is to analyze the financial information included in the Appendix A and to report in the form of an independent conclusion of limited assurance perform based on the evidence obtained. We conducted the engagement in accordance with ISAE 3000 regarding the assurance engagements other than Audits or Reviews of Historical Financial Information. This standard requires that we plan and perform our procedures in order to obtain a limited assurance whether the financial information included in the Appendix A comply, in all material respects, with the Regulation, as a basis for our independent conclusion.

Numele Deluitte se referă la organizația Deloitte Touche Tohmatsu Limited, o companie cu răspundere limitată din Marea Britanie, la firmele membre ale acesteia, în cadrul căreia fiecare firmă membră este o persoană juridică independentă. Pentru o descriere amănunțită a structurii legale a Deloitte Touche Tohmatsu Limited și a firmelor membre. vå rugåm så accesati www.deloitte.com/ro/despre

Deloitte.

We apply the International Standard on Quality Control 1 and, accordingly, maintain a comprehensive system of quality control including documented policies and procedures regarding compliance with ethical requirements, professional standards and applicable legal and requiatory requirements. We have complied with the independence and other ethical requirements of the Code of Ethics for Professional Accountants issued by the International Ethics Standards Board for Accountants, which is founded on fundamental principles of integrity, objectivity, professional competence and due care, confidentiality and professional behavior.

The procedures selected depend on our understating of the information contained in Appendix A and other circumstances of the engagement, as well as on our judgment of the areas that may show significant misstatements. In developing our understanding of the information included in Appendix A. we have considered the Company's internal control relevant for drawing up and presenting such information in accordance with the Regulation, in order to determine the relevant procedures in the given circumstances, and not for the purpose of expressing a conclusion of the efficiency of the Company's internal control in the drawing up and presentation of Appendix A and in carrying out the reported transaction.

The procedures performed in a limited assurance engagement vary in nature and timing from, and are less in extent than for a reasonable assurance engagement. Consequently, the level of assurance obtained in a limited assurance engagement is substantially lower than the assurance that would have been obtained had a reasonable assurance engagement been performed. This report does not constitute a legal opinion.

We formed our conclusion based on, and in connection with, the aspects revealed herein. In our opinion, the evidence we have obtained is sufficient and adequate to form a basis for our limited assurance conclusion.

Summary of Work Performed

Our procedures have been conducted only on the transaction included in Appendix A related to the transaction concluded by the Company, as follows:

• We obtained the current report included in the Appendix A issued by the Company and signed by $1)$ the management, contract which include the reported transaction in semester 2, 2019 and we checked the information presented there with the information from the contract with Administrare Imobiliare S.A.;
• We checked the financial information included in the contract with Administrare Imobiliare S.A. in $2)$ order to determine whether they contain provisions related to: contracting parties, date of conclusion and nature of the document, description of the object thereof, total value, payment terms and modalities, in accordance with the Regulation 5/2018 art. 144, B (4):
• $3)$ We discussed with the Company management on the Company's internal policies related to the transaction decision, as presented in the Appendix A, including about the price mentioned in the contract.

Conclusion

Based on the procedures performed and evidence obtained nothing has come to our attention that causes us to believe that the Appendix A has not been prepared in all material respects in accordance with Regulation no. 5/2018 art. 144.B point (4).

Limitations on use

This report is solely for the purpose set forth in the first paragraph hereof and for your information and for the information of the BSE and the FSA and it is not to be used for any other purpose or to be distributed to any other parties without our prior written permission. Our report should not be deemed adequate for use by any party wishing to acquire rights over us, other than the Company, for any purpose or in any circumstances. Any party except the Company, which is granted access to our report or a copy hereof and choses to rely on our report (or a part thereof), shall do so on their own account. Our engagement was undertaken so as to report to the Board of Directors and the Company's Management those aspects that we are required to report in a limited independent assurance report, and not for other purposes. Deloitte does not authorize distribution or use of this report unless a release letter in a form and content acceptable to Deloitte has been executed. This report relates only to the items specified above and does not extend to any financial statements of the Company taken as a whole.

On behalf of: Deloitte Audit SRL

Irina Dobre

For signature, please refer to the original Romanian version.

Bucharest, Romania January 30, 2020

Appendix A

SIF BANAT-CRISANA

ADRESA CALLA VA TUNE TSA ARAD ETCITNE - TELEFON 0257 304 439 - FAX 0257 250 165 + EMAN, SPROPSPTENO - INTERNET WWW.METRO

Către.

AUTORITATEA DE SUPRAVEGHERE FINANCIARĂ SECTORUL INSTRUMENTE ȘI INVESTIȚII FINANCIARE

DANATICRISANA
/ OCT 2019
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BURSA DE VALORI BUCUREȘTI - Piața reglementată

RAPORT CURENT

conform Regulamentului nr. S/2018 și Legii nr. 24/2017 privind emitenții de instrumente financiare și operațiuni de piată Data raportului: 07.10.2019

Sounded white all Societates de Investigii Financiare Benet-Crisena SA (StF Benet-Crisena) | Sassa Social Calea Victoriei nr. 35 A,
Arad 310158 | 1 (200257 304 438 | 160 00057 250 145 | Withwawishi ro | 1 (may shoothelitur the top are experienced and the company of the control of the company of the company of the company of the company of the company of the company of the company of the company of the company of the company of the company of (simbot: SIF1)

Eversment important de raportat:

Tranzacție prevăzută la art. 82 din Legea 24/2017

SIF Banat-Crișana informează acționarii cu privire la încheierea contractului de inchiriere a spațiului de la adresa din București, sector 2, Str. Serghei Vasilievici Rahmaninov, nr. 46-48, etaj 3 deținut de societatea Administrare îmobiliare SA București, tranzacție ce se încadrează în prevederile art. 82 din Legea 24/2017.

Part for actual a Ast ChC	Data the heats M natura actulus	Obsectul actuaul nurickt.	Valoarea totalà a actulur kuridir.	Datordia reciproce ce decurg din actul junded	Garante constituite Penahtau stro-late	Terment > modalități de niată
SIF Banat Crisana SA In- Labiate de locatar. Administrare amobiliare SA in calitate de lotator	und-c 7 octombrie 2019 Contract de 'rehir ere	- inchu erea spatiului de la adresa din Bucuresti, sector 2. Str. Sergner Vasaievici Rahmanmov, nr.46- 48, ela, 3 pentru o durable 5 and	Chirle de 1,179.50 EUROAUNA olus TVA Costun de functionare de 794.87 EURO/luna plus TVA	- Nu este CAZIM	Penatuly de internete de $0.5%$ / $n$ de make nere	Chris se plateste in let Les memul de plata este de 10 /le calendaristice. ne la data nde aru factura

Președinte Director General Bogdan-Alexandru Drägol

RC Conformitate. Eugen Cristea

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