SIF Banat Crisana S.A.

Legal Proceedings Report • Apr 15, 2020

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

ANNOUNCEMENT

April 15, 2020 | SIF Banat-Crișana S.A. informs the investors that, as a shareholder of SIF Oltenia S.A., will attend the ordinary general meeting of the shareholders of SIF Oltenia S.A. convened for April 28 (29), 2020 and will request at the meeting the liability proceeding for the administrators (members of the Board of Directors) Tudor Ciurezu, Anina Radu, Carmen Popa and Nicolae Stoian.

The liability proceeding for the mentioned administrators will be requested for the reasons shown in the request for the amendment of the agenda of the general meeting annexed to the Current Report no. 2899 / 06.04.2020 published by SIF Oltenia S.A. and available on the issuer's webpage on the Bucharest Stock Exchange. The debates of the shareholders and the vote for the liability proceeding of the mentioned administrators will be made during the meeting of April 28 (29), 2020 under the circumstances provided by art. 155 par. (3) of Law no. 31/1990. We mention that the shareholders can vote on the liability proceeding of the administrators by participating in the meeting, personally, or by proxy representation under the conditions of art. 92 par. (12) or par. (13) of Law no. 24/2017.

We emphasize that the debate on the liability proceeding during the meeting and taking the legal action for their liability is all the more necessary since the administrators have unjustifiably refused to amend the agenda of the meeting with this matter demanded by shareholders holding at least 5% of the share capital. The restriction of shareholders rights to exercise control over the management of the company and to recover the damages caused to the company is a relevant indicator regarding the soundness of the liability proceeding request.

SIF Banat-Crișana S.A. assures the investors that it will carry out all legal actions to sanction the recurring abuses of the administrators of SIF Oltenia S.A. and their violation of the legal provisions and the decisions of the Financial Supervisory Authority.

Chairman and CEO Bogdan-Alexandru DRĂGOI

Compliance Officer, Eugen Cristea