Santierul Naval Orsova S.A.

Legal Proceedings Report • Dec 11, 2019

S.C. "ŞANTIERUL NAVAL ORŞOVA" S.A. Nr. RC J25/150/1991 CIF: RO 1614734 Capital social: - subscris 28.557.297,5 lei - varsat 28.557.297,5 lei Str. Tufări, nr. 4, Orşova, 225200, Mehedinţi Tel.: 0252/362.399; 0252/361.885; Fax: 0252/360.648 E-mail: mircea.sperdea@snorsova.ro; marketing@snorsova.ro Codul LEI (Legal Entity Identifier): 254900UXAJ8TPIKLXG79 Cod IBAN: RO96RNCB0181022634120001- B.C.R. Orşova Cod IBAN: RO59BRDE260SV03176142600- B.R.D. Orşova

TO :

THE STOCK EXCHANGE BUCHAREST – Department of Operations Issuers of Regulated Markets FINANCIAL MONITORING AUTHORITY – Department of Financial Instruments and Investments

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CURRENT REPORT

ACCORDING TO THE LAW NO. 24/2017 AND TO THE ASF REGULATION NO. 5/2018 Concerning the issuers of financial instruments and market operations

Report date: 10.12.2019

- Name of the trading company: S.C. ŞANTIERUL NAVAL ORŞOVA S.A.;

• - Registered office: 4, TUFĂRI Street, ORŞOVA, MEHEDINŢI County;
• - Telephone/fax:0252/362399 0252/360648;
• - Single registration code issued by the Trade Register: RO 1614734;
• - Registered number with the Trade Register's Office: J25/150/03.04.1991;
• - Code Lei: 254900UXAJ8TPIKLXG79
• - Subscribed and paid in share capital: 28,557,297.5 Lei
• - Number of shares: 11.422.919 common shares, of 2,5 lei each;

- Regulated market where the issued securities are traded: Bucharest Stock Exchange-category Standard (symbol: SNO)

IMPORTANT EVENT TO REPORT: VALIDATION OF 3 CONTRACTS FOR CONSTRUCTION AND DELIVERY OF INLAND VESSELS.

S.C. Șantierul Naval Orșova S.A. informs the shareholders and all interested parties that, in its meeting dated 09th of December 2019, the Board of Directors of SC Orsova Shipyard S.A. validated a total of 3 construction contracts for foreign vessels, which are related to the following clarifications:

• Nature acts concluded: commercial contracts with intra-Community (Netherland)
• Object contracts: one commercial contract for the construction and delivery of one tanker vessel of 110 m, 1 contract for construction and delivery of one tanker vessel of 135 m and a contract for a passenger vessel of 135 m
• The total value of the 3 contracts: 7.385.000 EURO
• Terms and conditions of payment: an advance payment of 10% of the contract value, based on a letter of guarantee refund of the advance and the remaining payment: based on documentary letter of credit, payable after arrival at the place of delivery, for two contracts and respectively based on a documentary letter of credit for total amount of the third contract.

General Manager, Eng. Mircea Ion Sperdea