Fondul Proprietatea

Transaction in Own Shares • Jun 18, 2018

To: FINANCIAL SUPERVISORY AUTHORITY BUCHAREST STOCK EXCHANGE LONDON STOCK EXCHANGE Re: Notification regarding the transactions performed within the ninth 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 11 - 15 June 2018, per 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
c) Description of the acquired financial instruments	JEFFERIES INTERNATIONAL LIMITED (as buy back agent in relation to the purchase of GDRs) Ordinary shares issued by the Fund (ISIN ROFPTAACNOR5) listed on the Bucharest Stock
d) Transaction's type	Exchange ("BVB"), and Global Depositary Receipts ("GDRs") (ISIN US34460G1067) corresponding to the Fund's shares listed on the London Stock Exchange ("LSE") Buy-back
e) Details with respect to the execution of the buy-back market orders	Within the trading session
f) Total number of shares and equivalent shares of GDRs bought-back in the reporting period, out of which:	5,886,931
- current number of shares bought back	3,764,581
- equivalent shares of current number of GDRs bought back	2,122,350 (representing 42,447 GDRs)
g) Total value of the transactions performed in the	5,264,149.38
reporting period (RON), out of which:
- value of the shares acquisition (RON)	3,377,797.96
- estimated value of the equivalent shares of GDRs based on the exchange rate communicated by the National Bank of Romania (RON)	1,886,351.42
h) Total number of shares and equivalent shares of	1,370,848,469
GDRs repurchased since the start of the ninth buy
back program - number of shares bought back	780,988,969
- equivalent shares of current number of GDRs bought back	589,859,500 (representing 11,797,190 GDRs)
- equivalent shares of current number of GDRs converted in shares from the start of ninth buy back programme	587,737,150 (representing 11,754,743 GDRs)
- % of subscribed share capital as at 11 June 2018 –	14.69% (and 17.18% computed to the total outstanding

__________________________________________________________________________________________________________________________________________________________________________ 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 4,854,034,784.56, Paid-up Share Capital: RON 4,664,852,362.56 • Tel.: + 40 21 200 9600; Fax: +40 21 200 9631; Email: office@fondulproprietatea.ro; Internet: www.fondulproprietatea.ro

________________________________________________________________________________________________________

	OGM Resolution no. 8/26 April 2018	treasury shares and equivalent)
	"Registration date"
-	% of paid-up share capital as at 11 June 2018 -	15.28% (and 17.88% computed to the total outstanding
	OGM Resolution no. 8/26 April 2018	treasury shares and equivalent)
	"Registration date"
-	June 20181 - % of total voting rights as at 11	18.59% (and 21.75% computed to the total outstanding
	OGM Resolution no. 8/26 April 2018	treasury shares and equivalent)
	"Registration date"
	i) Total value of the shares repurchased since the start	1,279,859,448.29
of the ninth buy-back program (RON)
-	value of the shares acquisition (RON)	729,280,654.82
-	estimated value of the equivalent shares of GDRs	550,578,793.47
	based on the exchange rate communicated by the
	National Bank of Romania (RON)
j) Number of shares left to be repurchased within the		263,368,975
	ninth buy-back programme as of the date of this
notification2

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	Average price per security	Volume of the transaction (no. of securities)	Value of the transaction
	securities were	(currency)		(currency)
	traded
11 June 2018	BVB	RON 0.9000	1,166,986 shares	RON 1,050,287.40
12 June 2018	BVB	RON 0.9000	577,757 shares	RON 519,981.30
	LSE	USD 11.3000	12,447 GDRs (622,350	USD 140,651.10
			shares equivalent)
13 June 2018	BVB	RON 0.8999	415,217 shares	RON 373,653.78
	LSE	USD 11.2000	15,000 GDRs (750,000 shares equivalent)	USD 168,000.00
14 June 2018	BVB	RON 0.8955	426,690 shares	RON 382,100.89
	LSE	USD 11.2000	15,000 GDRs (750,000 shares equivalent)	USD 168,000.00
15 June 2018	BVB	RON 0.8929	1,177,931 shares	RON 1,051,774.59

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

__________________________________________________________________________________________________________________________________________________________________________

¹ Please recall that the treasury shares repurchased by Fondul Proprietatea within the buyback programmes do not grant voting rights 2 As per the Fund's Extraordinary General Shareholders Meeting Resolution no. 5 of 26 October 2017, the ninth buyback programme refers to the acquisition by the Fund of a maximum number of shares and / or equivalent GDRs corresponding to the Fund's shares computed so that all the outstanding treasury shares (acquired during this programme and/or previous ones) will not exceed 20% of the subscribed share capital at the relevant time, which represents a total of 1,866,936,455 own shares as of the date of this notification; however, after the cancellation of the shares acquired within the previous / ongoing buyback programmes, the 20% limitation will change and the Fund will notify the market accordingly.

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 4,854,034,784.56, Paid-up Share Capital: RON 4,664,852,362.56 • Tel.: + 40 21 200 9600; Fax: +40 21 200 9631; Email: office@fondulproprietatea.ro; Internet: www.fondulproprietatea.ro