Fondul Proprietatea

Transaction in Own Shares • Sep 22, 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 15 – 21 September 2016, according to Article 150 paragraph (2) 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
	back agent in relation to the purchase of GDRs)
c) Description of the acquired financial instruments	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	20,105,948
which:
- current number of shares bought back	20,105,948
- 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:	15,990,601.77
- value of the shares acquisition (RON)	15,990,601.77
- 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	883,476,055
GDRs repurchased since the start of the sixth buy
back program - number of shares bought back	648,537,105
- equivalent shares of current number of GDRs	234,938,950 (representing 4,698,779 GDRs)
bought back
- equivalent shares of current number of GDRs	234,938,950 (representing 4,698,779 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

k) Number of shares seventh buy-back programme	204,815,025
	buy-back programme left to be repurchased from
j) Number of shares left to be repurchased from sixth	8,294,000
	National Bank of Romania (RON)
	based on the exchange rate communicated by the
-	estimated value of the equivalent shares of GDRs	196,274,530.40
-	of the sixth buy-back program (RON) value of the shares acquisition (RON)	529,049,477.35
i) Total value of the shares repurchased since the start	725,324,007.75
-	% of total voting rights as at 31 August 2016	8.56
-	% of paid-up share capital as at 31 August 2016	8.33
	2016
-	% of subscribed share capital as at 31 August	8.05

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)
15	BVB	0.7845	480,177	376,698.86
September 2016		RON	shares	RON
16	BVB	0.7852	542,065	425,629.44
September 2016		RON	shares	RON
19	BVB	0.7890	6,923,634	5,462,747.23
September 2016		RON	shares	RON
20	BVB	0.7979	4,739,171	3,781,384.54
September 2016		RON	shares	RON
21	BVB	0.8010	7,420,901	5,944,141.70
September 2016		RON	shares	RON

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

Oana Valentina TRUŢA 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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