Fondul Proprietatea

Transaction in Own Shares • Jun 27, 2016

To: FINANCIAL SUPERVISORY AUTHORITY BUCHAREST STOCK EXCHANGE LONDON STOCK EXCHANGE Re: Notification regarding the transactions performed within the buy-back programme From: FONDUL PROPRIETATEA S.A.

The undersigned, FONDUL PROPRIETATEA S.A. ("FP / The Fund"), represented by Franklin Templeton Investment Management Ltd. United Kingdom Bucharest Branch, acting in its capacity as Investment Manager, hereby informs you in its capacity as Issuer on the following information regarding the transactions concluded during 20 - 24 June 2016, according to Article 150 of the NSC's Regulation no. 1/2006 regarding issuers and operations with securities:

a) Issuer's name (buyer)	FONDUL PROPRIETATEA S.A.
	Bucharest Stock Exchange Symbol: FP
	London Stock Exchange Symbol: FP.
b) Broker's name	WOOD & COMPANY FINANCIAL SERVICES
	A.S. (as buy-back agent in relation to the purchase of
	shares), and
	GOLDMAN SACHS INTERNATIONAL (as buy
c) Description of the acquired financial instruments	back agent in relation to the purchase of GDRs) Ordinary shares issued by the Fund (ISIN
	ROFPTAACNOR5) listed on the Bucharest Stock
	Exchange ("BVB"), and
	Global Depositary Receipts ("GDRs") corresponding
	to the Fund's shares listed on the London Stock
	Exchange ("LSE")
d) Transaction's type	Buy-back
e) Details with respect to the execution of the buy-back	Within the trading session
market orders
f) Total number of shares and equivalent shares of GDRs bought-back in the reporting period, out of	5,498,083
which:
- current number of shares bought back	5,498,083
- equivalent shares of current number of GDRs	0 (representing 0 GDRs)
bought back
g) Total value of the transactions performed in the reporting period (RON), out of which:	3,845,590.58
- value of the shares acquisition (RON)	3,845,590.58
- estimated value of the equivalent shares of GDRs	0
based on the exchange rate communicated by the
National Bank of Romania (RON)
h) Total number of shares and equivalent shares of	288,370,107
GDRs repurchased since the start of the sixth buy
back program
- number of shares bought back	239,871,207
- equivalent shares of current number of GDRs bought back	48,498,900 (representing 969,978 GDRs)
- equivalent shares of current number of GDRs	47,373,900 (representing 947,478 GDRs)
converted in shares from the start of sixth buy _____________________
FONDUL PROPRIETATEA S.A., an alternative investment fund • Headquarters at: 78-80 Buzesti Street, 7th floor, Bucharest 1st district, postal code 011017, Romania. • Fiscal Identification

Code (CIF): 18253260, registered with the Trade Registry under no: J40/21901/2005 • Register on Data Protection Notification Register under number 18668 • Subscribed share capital RON 9,320,973,180.85, Paid-up Share Capital: RON 9,011,732,683.35 • Tel.: + 40 21 200 9600; Fax: +40 21 200 9631; Email: office@fondulproprietatea.ro; Internet: www.fondulproprietatea.ro

back programme

	seventh buy-back programme
	k) Number of shares left to be repurchased from	204,815,025
	buy-back programme
	j) Number of shares left to be repurchased from sixth	603,399,948
	National Bank of Romania (RON)
	based on the exchange rate communicated by the
-	estimated value of the equivalent shares of GDRs	38,994,136.31
-	value of the shares acquisition (RON)	185,891,397.68
	of the sixth buy-back program (RON)
	i) Total value of the shares repurchased since the start	224,885,533.99
	EGM Resolution no. 1/27 Jan. 2016
	considered as "Registration Date" as per the
-	% of total voting rights as at 6 June 2016,	2.78
	EGM Resolution no. 1/27 Jan. 2016
-	% of paid-up share capital as at 6 June 2016, considered as "Registration Date" as per the	2.71
	EGM Resolution no. 1/27 Jan. 2016
	considered as "Registration Date" as per the
-	% of subscribed share capital as at 6 June 2016,	2.62

The details of the transactions carried out during the reporting period with respect to the shares and GDRs issued by Fondul Proprietatea SA for the purpose of the buy-back are described further below:

Date of the transaction	Market on which the securities were traded	Average price per security (currency)	Volume of the transaction (no. of securities)	Value of the transaction (currency)
21 June 2016	BVB	0.7073 RON	1,767,831 shares	1,250,386.87 RON
22 June 2016	BVB	0.7014 RON	1,843,925 shares	1,293,329.00 RON
23 June 2016	BVB	0.7050 RON	620,000 shares	437,100.00 RON
24 June 2016	BVB	0.6829 RON	1,266,327 shares	864,774.71 RON

Franklin Templeton Investment Management Ltd. United Kingdom Bucharest Branch, in its capacity as Investment Manager of FONDUL PROPRIETATEA S.A.

Adrian CIGHI Legal Representative

FONDUL PROPRIETATEA S.A., an alternative investment fund • Headquarters at: 78-80 Buzesti Street, 7th floor, Bucharest 1st district, postal code 011017, Romania. • Fiscal Identification Code (CIF): 18253260, registered with the Trade Registry under no: J40/21901/2005 • Register on Data Protection Notification Register under number 18668 • Subscribed share capital RON 9,320,973,180.85, Paid-up Share Capital: RON 9,011,732,683.35 • Tel.: + 40 21 200 9600; Fax: +40 21 200 9631; Email: office@fondulproprietatea.ro; Internet: www.fondulproprietatea.ro

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