Alro S.A.

Related Party Transaction • Jan 25, 2021

No: 7/25.01.2021

To: The Financial Supervisory Authority Bucharest Stock Exchange

Current report in compliance with article no. 92³ of Law no. 24/2017 on issuers of financial instruments and market operations and Law no. 158/2020 for the amendment, supplementation and repealing of certain normative acts, as well as for setting up measures for the implementation of Regulation (EU) 2017/2402 of the European Parliament and of the Council of 12 December 2017, establishing a general framework for securitization and creating a specific framework for a simple, transparent and standardized securitization and amending Directives 2009/65/EC, 2009/138/EC and 2011/61/EU, as well as Regulations (EC) no. 1060/2009 and (EU) no. 648/2012.

Date of report: January 25th 2021 Name of issuer: ALRO S.A. Headquarters: Slatina, 116 Pitesti Street, Olt County Telephone/ fax number: +40 249 431 901 / +40 249 437 500 Sole registration number at the Trade Register Office: RO 1515374 Trade Register Number: J28/8/1991 The European Unique Identifier (EUID): ROONRCJ28/8/1991 Legal Entity Identifier (LEI): 5493008G6W6SORM2JG98 Subscribed and paid-in share capital: 356,889,567.5 RON Regulated market on which the issued shares are traded: Bucharest Stock Exchange – Premium Tier Category (market symbol: ALR)

Significant event to be reported: Reporting of transactions with related parties according to art. 92³ paragraph 3 and paragraph 12 of Law no. 24/2017 as amended and supplemented by Law no. 158/2020

Please be informed by the present Current Report that ALUM S.A., subsidiary of ALRO S.A., carried out in the period September 1 st 2020 – December 31st 2020, with the company Sierra Mineral Holdings 1 Limited, subsidiary of ALRO S.A., the following transactions that cumulatively exceed 5% of the Company's net assets, as per ALRO S.A. standalone financial statements for the year 2019, in amount of RON 37,077,541, as follows:

▪ Transactions of ALUM S.A., subsidiary of ALRO S.A., with the company Sierra Mineral Holdings 1 Limited, subsidiary of ALRO S.A., carried out in the period September 1 st 2020 –December 31st 2020 in total amount of RON 51,338,160.

Details have been enclosed to this Report, as follows:

• Annex 1 Reporting of transactions carried out in the period September 1 st 2020 –December 31st 2020;
• Annex 2 Reporting of contracts related to the transactions in Annex 1;
• Annex 3 Reporting of mutual debts and receivables balances as of December 31st 2020.

Chairman of the Board of Directors Chief Executive Officer Marian Daniel Nastase Gheorghe Dobra

Annex 1 - Reporting of transactions carried out in the period September 1 st 2020 – December 31st 2020:

Acquisitions

Year	Month	Name	Nature of relationship	Name	Nature of relationship	Nature of transaction	Object of transaction	Amount (RON)	N.R.U. number/ Date of contract
2020	9	ALUM S.A.	Subsidiary	Sierra Mineral Holdings 1 Limited	Subsidiary	Acquisitions	Bauxite	7,062,114	138/11.05.2020
2020	10	ALUM S.A.	Subsidiary	Sierra Mineral Holdings 1 Limited	Subsidiary	Acquisitions	Bauxite	14,474,759	138/11.05.2020
2020	11	ALUM S.A.	Subsidiary	Sierra Mineral Holdings 1 Limited	Subsidiary	Acquisitions	Bauxite	15,018,180	138/11.05.2020
2020	12	ALUM S.A.	Subsidiary	Sierra Mineral Holdings 1 Limited	Subsidiary	Acquisitions	Bauxite	14,783,108	138/11.05.2020

51,338,160

Annex 2 - Reporting of contracts related to the transactions in Annex 1

Acquisitions

Name	Nature of relationship	Name	Nature of relationship	Nature of transaction	Object of transaction	N.R.U. number/ Date of contract	Payment term
ALUM S.A.	Subsidiary	Sierra Mineral Holdings 1 Limited	Subsidiary	Acquisitions	Bauxite	138/11.05.2020	Payment at 15 calendar days after the B/L date or advance payment, based on agreement of the parties

Annex 3 – Reporting of mutual debts and receivables balances as of December 31st 2020

	Company	Related party	Balance as of December 31st 2020 (RON)
Name	Nature of relationship	Name	Nature of relationship	Receivables	Liability
ALUM S.A.	Subsidiary	Sierra Mineral Holdings 1 Limited	Subsidiary	252,066,437	-