Fondul Proprietatea

Audit Report / Information • Feb 1, 2021

Current report according to the provisions of Article 144 point B para. (1) – (3) of FSA Regulation no. 5/2018

________________________________________________________________________________________________________

Important events to be reported:

Publication of the Independent Report of limited assurance of the financial auditor over the transactions with related parties included in the current reports published within Semester II 2020 in accordance with the provisions of Law no. 24 /2017 and Regulation no. 5/2018

Franklin Templeton International Services S.À R.L, as alternative investment fund manager and sole director of Fondul Proprietatea SA (the "Fund"), hereby informs shareholders and investors of the publication of the Independent Report of limited assurance over the information included in the current reports issued by Fondul Proprietatea SA in accordance with the provisions of Law no. 24 /2017 and Regulation no. 5/2018.

We mention that although starting with August 2020, art. 82 of Law no. 24/2017 was repealed, the provisions of art. 144 lit. B para. 4 of the F.S.A. Regulation no. 5/2018 (regarding current reports on related parties transactions) are still in force, thus the Fund decided to contract the financial auditor for the preparation of the attached independent limited assurance report.

Franklin Templeton International Services S.À R.L. in its capacity of alternative investment fund manager and sole director of FONDUL PROPRIETATEA S.A.

Johan MEYER Permanent Representative Report date: 1 February 2021

Name of the issuing entity: Fondul Proprietatea S.A.

Registered office: 78-80 Buzesti Street 7 th floor, district 1, Bucharest, 011017

Phone/fax number: Tel.: + 40 21 200 9600 Fax: + 40 21 200 9631

Email: office@fondulproprietatea.ro

Internet: www.fondulproprietatea.ro

Sole Registration Code with the Trade Register Office: 18253260

Order number in the Trade Register: J40/21901/2005

Subscribed share capital: RON 3,749,282,292.08

Paid-up share capital: RON 3,560,099,870.08

Number of shares in issue: 7,210,158,254

Number of paid shares: 6,846,345,904

Regulated market on which the issued securities are traded: Shares on Bucharest Stock Exchange

GDRs on London Stock Exchange

Deloitte Audit S.R.L. Clădirea The Mark Tower Calea Griviței nr. 82-98 Sector 1, 010735 București, România

Tel: +40 21 222 16 61 Fax: +40 21 222 16 60

www.deloitte.ro INDEPENDENT LIMITED ASSURANCE REPORT ON THE INFORMATION INCLUDED IN THE CURRENT REPORTS PREPARED BY THE FUND IN ACCORDANCE WITH THE PROVISIONS OF LAW NO. 24/2017, AS REVISED, AND FSA REGULATION NO. 5/2018

Sole Director Fondul Proprietatea S.A.

We have been contracted by Fondul Proprietatea (herein after referred to as "the Fund") in order to report according to the requirements of Law no. 24/2017 on financial instruments and market operations, as revised (herein after referred to "Law no. 24/2017") on the information included in the accompanying current reports ("Current Reports"), which were prepared by the Fund in accordance with article 92³ of Law no. 24/2017, and to the provisions of Regulation no. 5/2018 of the Financial Supervisory Authority (herein after referred to as "FSA"), to report to the Financial Supervisory Authority ("FSA") and the Bucharest Stock Exchange ("BSE") for the period 1 July 2020 - 31 December 2020, in the form of a limited assurance conclusion.

Specific Scope

The scope of our report is exclusively that laid down in the first paragraph hereof, and our report is prepared for the information of the Fund, of the BSE and the FSA and shall not be used for any other purpose. Our report shall not be deemed adequate for use by any party that wishes to acquire rights towards us, other than the Fund, for any purpose or in any context.

Any party other than the Fund, which gains access to our report or a copy hereof and choses to rely on our report (or a portion hereof), shall do so on its own responsibility. Our engagement was conducted so as to report on such matters that we must report in an independent limited assurance report, and not for other purposes. This report refers only to the elements mentioned hereunder and does not extend to the Fund's financial statements or other reports issued by the Fund, individually or as a whole.

Management's Responsibility

The Fund's management is responsible for the preparation of the Current Reports and conclusion of the transactions reported in accordance with Law no. 24/2017 as revised and FSA Regulation no. 5/2018. Moreover, the Fund's management is responsible for the design, implementation and maintenance of internal controls that enable the preparation of Current Reports that are free from material misstatements, whether due to fraud or error.

The Fund's management is also responsible to make sure that the supporting documents underlying the preparation of the Current Reports and evidence provided to the auditor are complete, correct and justified.

Auditor's Responsibility

We conducted our limited assurance engagement in accordance with International Standard on Assurance Engagements ISAE 3000 (Revised) - Assurance engagements other than audits or reviews of historical financial information. This standard requires that we comply with ethical requirements and independence standards, plan and perform the assurance engagement to obtain limited assurance about the Current Report(s).

Our firm applies International Standard on Quality Control 1 ("ISQC1") and, accordingly, maintains a comprehensive system of quality control including documented policies and procedures regarding compliance with ethical requirements, professional standards and applicable legal and regulatory requirements.

We have complied with the independence and other ethical requirements of the Code of Ethics for Professional Accountants (including International Independence Standards) issued by the International Ethics Standards Board for Accountants, which is founded on fundamental principles of integrity, objectivity, professional competence and due care, confidentiality and professional behaviour.

__________________________________________________________________________________________________________________________________________________________________________ The procedures selected depend on the auditor's judgment and understanding of the reported transaction included in the Current reports, and of other circumstances of the engagement, as well as on our considerations as to the areas where material misstatements

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 • Subscribed share capital RON 3,959,264,762.44, Paid-up Share Capital: RON 3,770,082,340.44 • Tel.: + 40 21 200 9600; Fax: +40 21 200 9631; Email: office@fondulproprietatea.ro; Internet: www.fondulproprietatea.ro

might arise. In obtaining an understanding of the reported transaction included in the current reports, we have taken into consideration the process used by the Fund for concluding the transactions and preparing and presenting the current report in accordance with Law no. 24/2017 and FSA Regulation 5/2018, for the purpose of determining the assurance procedures applicable in the given circumstances, but not for the purpose of expressing a conclusion on the efficacy of the process or of the Fund's internal control for concluding the reported transaction included in the Current report(s) and for preparing and presenting the Current report(s).

The procedures include, in particular, making enquiries of those in charge of financial reporting and risk management, as well as additional procedures aimed at obtaining evidence on the information included in the Current report(s).

The procedures of obtaining evidence in a limited assurance engagement vary in nature and timing from, and are less in extent than for, a reasonable assurance engagement. Consequently, the level of assurance obtained in a limited assurance engagement is substantially lower than the assurance that would have been obtained had a reasonable assurance engagement been performed.

As regards the Fund's current reports, in order to assess the justified and correct nature of the transactions reported in such reports, we have conducted the following procedures:

• 1) We have obtained from the Fund the accompanying Current report(s) related to the period under review and details on the transactions included in such reports.
• 2) We have checked whether the persons approving such reports are the Fund's authorised representatives and requested the list of authorised signatures.
• 3) For the sampled transactions analysed, presented in the Current reports, we have determined whether the details thereof are consistent, in all material respects, with the information included in the documentation made available to us, and whether they were signed by the Fund's representatives, in accordance with the list of authorised signatures provided to us. Where applicable, we have checked whether the details included in the Current report(s) match the documentation pertaining to such contracts: the parties who signed the supporting documents; the date when the documentation was signed and the nature thereof; description of the type of services indicated in the documentation; the achieved or estimated aggregate value of the contracts, terms and payment methods, the related contractual terms and conditions.
• 4) For the sampled transactions analysed , we have checked whether the details presented in the accompanying Current reports match the information obtained by us following the enquiries with the Fund's management as well as with the documentation accompanying the contracts, as applicable.
• 5) For the sampled transactions analysed , to the extent there is a market price for the goods or services provided between the Fund and its affiliates, we have discussed with the Fund's management the pricing of such goods or services and whether, on a case by case basis, the agreed upon prices are consistent with those applied by other (third) parties for similar services.

Our procedures have been conducted only for the transactions included in the accompanying Current Reports, which related to the period (1 July 2020 - 31 December 2020). We have not conducted any procedures to check whether Current Reports include all the transactions that the Fund should report as per article 92³ of Law no. 24/2017 for such period.

Conclusion

Our conclusion was formed on the basis of and considering the matters presented in this independent limited assurance report. Based on the procedures described above and the evidence obtained, nothing has come to our attention that causes us to believe that:

• a) the information included in the accompanying Current reports is not consistent in all material respects with the supporting documents made available to us by the Fund.
• b) the information included in the accompanying Current reports is not consistent in all material respects with the requirements of law no. 24/2017 and FSA Regulation 5/2018, as regards the signatories of the supporting documents; the date when the documentation was signed and the nature thereof; the description of the type of services referred to in the documentation; the achieved or estimated aggregate value of the contracts, terms and payment methods, the related contractual terms and conditions.
• c) the contracts underlying the transactions reported and analysed have not been duly authorised by the Fund's representatives.

d) the prices agreed upon by the parties have not been mutually accepted based on the type of goods/services and other terms and conditions stipulated, as applicable, in the agreements between the parties and have not been determined according to the criteria mentioned at item 5) of the list of procedures herein above.

On behalf of: Deloitte Audit SRL

Irina Dobre

For signature, please refer to the original Romanian version.

Bucharest, Romania 29 January 2021

Annex

1. Current Reports forming the subject matter of this limited assurance report.

Current report according to the provisions of Article 82 of Law 24/2017 and Article 144 point B para. (1) – (3) of FSA Regulation no. 5/2018

Important events to be reported:

Transaction of the kind listed in Art. 82 of Law No. 24/2017

Franklin Templeton Investment Management Ltd. United Kingdom Bucharest Branch, in its capacity as Investment Manager of Fondul Proprietatea S.A. ("the Fund"), hereby informs shareholders and investors that the Fund has concluded term cash bank deposits with Raiffeisen Bank S.A. in RON for which the related cumulated interest paid by the bank since the beginning of the year was greater than RON equivalent of Euro 50,000, as described in Appendix herein.

Franklin Templeton Investment Management Ltd. United Kingdom Bucharest Branch acting as Investment Manager of FONDUL PROPRIETATEA S.A.

Johan MEYER Legal Representative Report date: 9 July 2020 Name of the issuing entity: Fondul Proprietatea S.A. Registered office: 78-80 Buzesti Street 7 th floor, district 1, Bucharest, 011017 Phone/fax number: Tel.: + 40 21 200 9600 Fax: + 40 21 200 9631 Email: office@fondulproprietatea.ro Internet: www.fondulproprietatea.ro Sole Registration Code with the Trade Register Office: 18253260 Order number in the Trade Register: J40/21901/2005 Subscribed share capital: RON 3,959,264,762.44 Paid-up share capital: RON 3,770,082,340.44 Number of shares in issue: 7,613,970,697 Number of paid shares: 7,250,158,347 Regulated market on which the issued securities are traded: Shares on Bucharest Stock Exchange GDRs on London Stock Exchange

	Appendix
No.	Type of transaction	Date of the transaction	Maturity Date	Total amount (Principal) in RON	Interest (%)	Interest (amount)	Mutual receivables	Issued guarantees	Payment terms and methods	Penalties
1.	cash bank deposit	27 January 2020	03 February 2020	69,400,000.00	2.50%	33,736.11	N/A	N/A	N/A	N/A
2.	cash bank deposit	03 February 2020	04 February 2020	69,500,000.00	2%	3,861.11	N/A	N/A	N/A	N/A
3.	cash bank deposit	04 February 2020	05 February 2020	69,500,000.00	2%	3,861.11	N/A	N/A	N/A	N/A
4.	cash bank deposit	06 February 2020	07 February 2020	53,100,000.00	2.20%	3,245.00	N/A	N/A	N/A	N/A
5.	cash bank deposit	07 February 2020	21 February 2020	53,000,000.00	2.60%	53,588.89	N/A	N/A	N/A	N/A
6.	cash bank deposit	17 March 2020	18 March 2020	155,000,000.00	2.20%	9,472.22	N/A	N/A	N/A	N/A
7.	cash bank deposit	18 March 2020	19 March 2020	153,500,000.00	2.10%	8,954.17	N/A	N/A	N/A	N/A
8.	cash bank deposit	02 April 2020	03 April 2020	136,400,000.00	2.35%	8,903.89	N/A	N/A	N/A	N/A
9.	cash bank deposit	08 April 2020	09 April 2020	156,400,000.00	2.30%	9,992.22	N/A	N/A	N/A	N/A
10.	cash bank deposit	09 April 2020	16 April 2020	145,000,000.00	2.37%	66,820.83	N/A	N/A	N/A	N/A
11.	cash bank deposit	24 April 2020	27 April 2020	37,000,000.00	2%	6,166.67	N/A	N/A	N/A	N/A
12.	cash bank deposit	28 April 2020	29 April 2020	86,700,000.00	2%	4,816.67	N/A	N/A	N/A	N/A
13.	cash bank deposit	29 April 2020	30 April 2020	84,000,000.00	2%	4,666.67	N/A	N/A	N/A	N/A
14.	cash bank deposit	30 April 2020	04 May 2020	66,900,000.00	2%	14,866.67	N/A	N/A	N/A	N/A

No.	Type of transaction	Date of the transaction	Maturity Date	Total amount (Principal) in RON	Interest (%)	Interest (amount)	Mutual receivables	Issued guarantees	Payment terms and methods	Penalties
15.	cash bank deposit	04 May 2020	05 May 2020	64,800,000.00	2%	3,600.00	N/A	N/A	N/A	N/A
16.	cash bank deposit	03 July 2020	06 July 2020	38,000,000.00	1.6%	5,066.67	N/A	N/A	N/A	N/A
	Total					241,618.90

Current report according to the provisions of Article 82 of Law 24/2017 and Article 144 point B para. (1) – (3) of FSA Regulation no. 5/2018

Important events to be reported:

Transaction of the kind listed in Art. 82 of Law No. 24/2017

Franklin Templeton Investment Management Ltd. United Kingdom Bucharest Branch, in its capacity as Investment Manager of Fondul Proprietatea S.A. ("the Fund"), hereby informs shareholders and investors that since the date the Fund first issued a current report (i.e. 9 July 2020) on the matter of term cash bank deposits concluded with Raiffeisen Bank S.A., the Fund has concluded two new more RON term cash bank deposits with Raiffeisen Bank S.A., as described in Appendix herein.

Franklin Templeton Investment Management Ltd. United Kingdom Bucharest Branch acting as Investment Manager of FONDUL PROPRIETATEA S.A.

Johan MEYER Legal Representative

Report date:

29 July 2020 Name of the issuing entity: Fondul Proprietatea S.A. Registered office: 78-80 Buzesti Street 7 th floor, district 1, Bucharest, 011017 Phone/fax number: Tel.: + 40 21 200 9600 Fax: + 40 21 200 9631 Email: office@fondulproprietatea.ro Internet: www.fondulproprietatea.ro Sole Registration Code with the Trade Register Office: 18253260 Order number in the Trade Register: J40/21901/2005 Subscribed share capital: RON 3,959,264,762.44 Paid-up share capital: RON 3,770,082,340.44 Number of shares in issue: 7,613,970,697 Number of paid shares: 7,250,158,347 Regulated market on which the issued securities are traded: Shares on Bucharest Stock Exchange GDRs on London Stock

Exchange

	Appendix
No.	Type of transaction	Date of the transaction	Maturity Date	Total amount (Principal) in RON	Interest (%)	Interest (amount)	Mutual receivables	Issued guarantees	Payment terms and methods	Penalties
1.	cash bank deposit	17 July 2020	24 July 2020	24,600,000.00	2.00%	9,566.67	N/A	N/A	N/A	N/A
2.	cash bank deposit	28 July 2020	4 August 2020	24,600,000.00	1.80%	8,610.00	N/A	N/A	N/A	N/A
	Total					18,176.67

Current report according to the provisions of Article 82 of Law 24/2017 and Article 144 point B para. (1) – (3) of FSA Regulation no. 5/2018

Important events to be reported:

Transaction of the kind listed in Art. 82 of Law No. 24/2017

Franklin Templeton Investment Management Ltd. United Kingdom Bucharest Branch, in its capacity as Investment Manager of Fondul Proprietatea S.A. ("the Fund"), hereby informs shareholders and investors that the Fund has concluded a new RON term cash bank deposit with Raiffeisen Bank S.A., as described in Appendix herein.

Franklin Templeton Investment Management Ltd. United Kingdom Bucharest Branch acting as Investment Manager of FONDUL PROPRIETATEA S.A.

Johan MEYER Legal Representative Report date:

3 August 2020 Name of the issuing entity: Fondul Proprietatea S.A. Registered office: 78-80 Buzesti Street 7 th floor, district 1, Bucharest, 011017 Phone/fax number: Tel.: + 40 21 200 9600 Fax: + 40 21 200 9631 Email: office@fondulproprietatea.ro Internet: www.fondulproprietatea.ro Sole Registration Code with the Trade Register Office: 18253260 Order number in the Trade Register: J40/21901/2005 Subscribed share capital: RON 3,959,264,762.44 Paid-up share capital: RON 3,770,082,340.44 Number of shares in issue: 7,613,970,697 Number of paid shares: 7,250,158,347 Regulated market on which the issued securities are traded: Shares on Bucharest Stock Exchange GDRs on London Stock

Exchange

	Appendix
No.	Type of transaction	Date of the transaction	Maturity Date	Total amount (Principal) in RON	Interest (%)	Interest (amount)	Mutual receivables	Issued guarantees	Payment terms and methods	Penalties
1.	cash bank deposit	31 July 2020	3 august 2020	26,900,000.00	1.80%	4,035.00	N/A	N/A	N/A	N/A
	Total					4,035.00

Current report according to the provisions of Article 82 of Law 24/2017 and Article 144 point B para. (1) – (3) of FSA Regulation no. 5/2018

Important events to be reported:

Transaction of the kind listed in Art. 82 of Law No. 24/2017

Franklin Templeton Investment Management Ltd. United Kingdom Bucharest Branch, in its capacity as Investment Manager of Fondul Proprietatea S.A. ("the Fund"), hereby informs shareholders and investors that the Fund has concluded a new RON term cash bank deposit with Raiffeisen Bank S.A., as described in Appendix herein.

Franklin Templeton Investment Management Ltd. United Kingdom Bucharest Branch acting as Investment Manager of FONDUL PROPRIETATEA S.A.

Johan MEYER Legal Representative

Report date:

11 August 2020 Name of the issuing entity: Fondul Proprietatea S.A. Registered office: 78-80 Buzesti Street 7 th floor, district 1, Bucharest, 011017 Phone/fax number: Tel.: + 40 21 200 9600 Fax: + 40 21 200 9631 Email: office@fondulproprietatea.ro Internet: www.fondulproprietatea.ro Sole Registration Code with the Trade Register Office: 18253260 Order number in the Trade Register: J40/21901/2005 Subscribed share capital: RON 3,959,264,762.44 Paid-up share capital: RON 3,770,082,340.44 Number of shares in issue: 7,613,970,697 Number of paid shares: 7,250,158,347 Regulated market on which the issued securities are traded: Shares on Bucharest Stock Exchange GDRs on London Stock

Exchange

	Appendix
No.	Type of transaction	Date of the transaction	Maturity Date	Total amount (Principal) in RON	Interest (%)	Interest (amount)	Mutual receivables	Issued guarantees	Payment terms and methods	Penalties
1.	cash bank deposit	7 August 2020	14 August 2020	51,700,000.00	1.60%	16,084.44	N/A	N/A	N/A	N/A
	Total					16,084.44

Current report according to the provisions of Article 82 of Law 24/2017 and Article 144 point B para. (1) – (3) of FSA Regulation no. 5/2018

Important events to be reported:

Transaction of the kind listed in Art. 82 of Law No. 24/2017

Franklin Templeton Investment Management Ltd. United Kingdom Bucharest Branch, in its capacity as Investment Manager of Fondul Proprietatea S.A. ("the Fund"), hereby informs shareholders and investors that the Fund has concluded a new RON term cash bank deposit with Raiffeisen Bank S.A., as described in Appendix herein.

Franklin Templeton Investment Management Ltd. United Kingdom Bucharest Branch acting as Investment Manager of FONDUL PROPRIETATEA S.A.

Johan MEYER Legal Representative

Report date:

17 August 2020 Name of the issuing entity: Fondul Proprietatea S.A. Registered office: 78-80 Buzesti Street 7 th floor, district 1, Bucharest, 011017 Phone/fax number: Tel.: + 40 21 200 9600 Fax: + 40 21 200 9631 Email: office@fondulproprietatea.ro Internet: www.fondulproprietatea.ro Sole Registration Code with the Trade Register Office: 18253260 Order number in the Trade Register: J40/21901/2005 Subscribed share capital: RON 3,959,264,762.44 Paid-up share capital: RON 3,770,082,340.44 Number of shares in issue: 7,613,970,697 Number of paid shares: 7,250,158,347 Regulated market on which the issued securities are traded: Shares on Bucharest Stock Exchange GDRs on London Stock

Exchange

Appendix

No.	Type of transaction	Date of the transaction	Maturity Date	Total amount (Principal) in RON	Interest (%)	Interest (amount)	Mutual receivables	Issued guarantees	Payment terms and methods	Penalties
1.	cash bank deposit	14 August 2020	17 August 2020	50,400,000.00	1.75%	7,350.00	N/A	N/A	N/A	N/A
	Total					7,350.00

Current report according to the provisions of Article 82 of Law 24/2017 and Article 144 point B para. (1) – (3) of FSA Regulation no. 5/2018

Important events to be reported:

Transaction of the kind listed in Art. 82 of Law No. 24/2017

Franklin Templeton Investment Management Ltd. United Kingdom Bucharest Branch, in its capacity as Investment Manager of Fondul Proprietatea S.A. ("the Fund"), hereby informs shareholders and investors that the Fund has concluded a new RON term cash bank deposit with Raiffeisen Bank S.A., as described in Appendix herein.

Franklin Templeton Investment Management Ltd. United Kingdom Bucharest Branch acting as Investment Manager of FONDUL PROPRIETATEA S.A.

Johan MEYER Legal Representative

Report date:

26 August 2020 Name of the issuing entity: Fondul Proprietatea S.A. Registered office: 78-80 Buzesti Street 7 th floor, district 1, Bucharest, 011017 Phone/fax number: Tel.: + 40 21 200 9600 Fax: + 40 21 200 9631 Email: office@fondulproprietatea.ro Internet: www.fondulproprietatea.ro Sole Registration Code with the Trade Register Office: 18253260 Order number in the Trade Register: J40/21901/2005 Subscribed share capital: RON 3,959,264,762.44 Paid-up share capital: RON 3,770,082,340.44 Number of shares in issue: 7,613,970,697 Number of paid shares: 7,250,158,347 Regulated market on which the issued securities are traded: Shares on Bucharest Stock Exchange GDRs on London Stock

Exchange

Appendix

No.	Type of transaction	Date of the transaction	Maturity Date	Total amount (Principal) in RON	Interest (%)	Interest (amount)	Mutual receivables	Issued guarantees	Payment terms and methods	Penalties
1.	cash bank deposit	25 August 2020	1 September 2020	67,700,000.00	1.50%	19,745.83	N/A	N/A	N/A	N/A
	Total					19,745.83

Current report according to the provisions of Article 82 of Law 24/2017 and Article 144 point B para. (1) – (3) of FSA Regulation no. 5/2018

Important events to be reported:

Transaction of the kind listed in Art. 82 of Law No. 24/2017

Franklin Templeton Investment Management Ltd. United Kingdom Bucharest Branch, in its capacity as Investment Manager of Fondul Proprietatea S.A. ("the Fund"), hereby informs shareholders and investors that the Fund has concluded a new RON term cash bank deposit with Raiffeisen Bank S.A., as described in Appendix herein.

Franklin Templeton Investment Management Ltd. United Kingdom Bucharest Branch acting as Investment Manager of FONDUL PROPRIETATEA S.A.

Johan MEYER Legal Representative Report date: 9 September 2020 Name of the issuing entity: Fondul Proprietatea S.A. Registered office: 78-80 Buzesti Street 7 th floor, district 1, Bucharest, 011017 Phone/fax number: Tel.: + 40 21 200 9600 Fax: + 40 21 200 9631 Email: office@fondulproprietatea.ro Internet: www.fondulproprietatea.ro Sole Registration Code with the Trade Register Office: 18253260 Order number in the Trade Register: J40/21901/2005 Subscribed share capital: RON 3,959,264,762.44 Paid-up share capital: RON 3,770,082,340.44 Number of shares in issue: 7,613,970,697 Number of paid shares: 7,250,158,347 Regulated market on which the issued securities are traded: Shares on Bucharest Stock Exchange GDRs on London Stock

Exchange

Appendix

No.	Type of transaction	Date of the transaction	Maturity Date	Total amount (Principal) in RON	Interest (%)	Interest (amount)	Mutual receivables	Issued guarantees	Payment terms and methods	Penalties
1.	cash bank deposit	8 September 2020	9 September 2020	68,100,000.00	1.30%	2,459.17	N/A	N/A	N/A	N/A
	Total					2,459.17

Current report according to the provisions of Article 144 point B para. (1) – (3) of FSA Regulation no. 5/2018

Important events to be reported:

Transaction with related parties

Franklin Templeton Investment Management Ltd. United Kingdom Bucharest Branch, in its capacity as Investment Manager of Fondul Proprietatea S.A. ("the Fund"), hereby informs shareholders and investors that the Fund has concluded a new RON term cash bank deposit with Raiffeisen Bank S.A., as described in Appendix herein.

Franklin Templeton Investment Management Ltd. United Kingdom Bucharest Branch acting as Investment Manager of FONDUL PROPRIETATEA S.A.

Johan MEYER Legal Representative

Report date:

21 September 2020 Name of the issuing entity: Fondul Proprietatea S.A. Registered office: 78-80 Buzesti Street 7 th floor, district 1, Bucharest, 011017 Phone/fax number: Tel.: + 40 21 200 9600 Fax: + 40 21 200 9631 Email: office@fondulproprietatea.ro Internet: www.fondulproprietatea.ro Sole Registration Code with the Trade Register Office: 18253260 Order number in the Trade Register: J40/21901/2005 Subscribed share capital: RON 3,959,264,762.44 Paid-up share capital: RON 3,770,082,340.44 Number of shares in issue: 7,613,970,697 Number of paid shares: 7,250,158,347 Regulated market on which the issued securities are traded: Shares on Bucharest Stock Exchange GDRs on London Stock

Exchange

Appendix

No.	Type of transaction	Date of the transaction	Maturity Date	Total amount (Principal) in RON	Interest (%)	Interest (amount)	Mutual receivables	Issued guarantees	Payment terms and methods	Penalties
1.	cash bank deposit	21 September 2020	22 September 2020	101,200,000.00	0.50%	1,405.56	N/A	N/A	N/A	N/A
	Total					1,405.56

Current report according to the provisions of Article 144 point B para. (1) – (3) of FSA Regulation no. 5/2018

Important events to be reported:

Transaction with related parties

Franklin Templeton Investment Management Ltd. United Kingdom Bucharest Branch, in its capacity as Investment Manager of Fondul Proprietatea S.A. ("the Fund"), hereby informs shareholders and investors that the Fund has concluded a new RON term cash bank deposit with Raiffeisen Bank S.A., as described in Appendix herein.

Franklin Templeton Investment Management Ltd. United Kingdom Bucharest Branch acting as Investment Manager of FONDUL PROPRIETATEA S.A.

Johan MEYER Legal Representative

Report date:

22 September 2020 Name of the issuing entity: Fondul Proprietatea S.A. Registered office: 78-80 Buzesti Street 7 th floor, district 1, Bucharest, 011017 Phone/fax number: Tel.: + 40 21 200 9600 Fax: + 40 21 200 9631 Email: office@fondulproprietatea.ro Internet: www.fondulproprietatea.ro Sole Registration Code with the Trade Register Office: 18253260 Order number in the Trade Register: J40/21901/2005 Subscribed share capital: RON 3,959,264,762.44 Paid-up share capital: RON 3,770,082,340.44 Number of shares in issue: 7,613,970,697 Number of paid shares: 7,250,158,347 Regulated market on which the issued securities are traded: Shares on Bucharest Stock Exchange GDRs on London Stock

Exchange

Appendix

No.	Type of transaction	Date of the transaction	Maturity Date	Total amount (Principal) in RON	Interest (%)	Interest (amount)	Mutual receivables	Issued guarantees	Payment terms and methods	Penalties
1.	cash bank deposit	22 September 2020	23 September 2020	110,500,000.00	0.30%	920.83	N/A	N/A	N/A	N/A
	Total					920.83

Current report according to the provisions of Article 144 point B para. (1) – (3) of FSA Regulation no. 5/2018

Important events to be reported:

Transaction with related parties

Franklin Templeton Investment Management Ltd. United Kingdom Bucharest Branch, in its capacity as Investment Manager of Fondul Proprietatea S.A. ("the Fund"), hereby informs shareholders and investors that the Fund has concluded a new RON term cash bank deposit with Raiffeisen Bank S.A., as described in Appendix herein.

Franklin Templeton Investment Management Ltd. United Kingdom Bucharest Branch acting as Investment Manager of FONDUL PROPRIETATEA S.A.

Johan MEYER Legal Representative

Report date:

23 September 2020 Name of the issuing entity: Fondul Proprietatea S.A. Registered office: 78-80 Buzesti Street 7 th floor, district 1, Bucharest, 011017 Phone/fax number: Tel.: + 40 21 200 9600 Fax: + 40 21 200 9631 Email: office@fondulproprietatea.ro Internet: www.fondulproprietatea.ro Sole Registration Code with the Trade Register Office: 18253260 Order number in the Trade Register: J40/21901/2005 Subscribed share capital: RON 3,959,264,762.44 Paid-up share capital: RON 3,770,082,340.44 Number of shares in issue: 7,613,970,697 Number of paid shares: 7,250,158,347 Regulated market on which the issued securities are traded: Shares on Bucharest Stock Exchange GDRs on London Stock

Exchange

Appendix

No.	Type of transaction	Date of the transaction	Maturity Date	Total amount (Principal) in RON	Interest (%)	Interest (amount)	Mutual receivables	Issued guarantees	Payment terms and methods	Penalties
1.	cash bank deposit	23 September 2020	30 September 2020	126,000,000.00	1.00%	24,500.00	N/A	N/A	N/A	N/A
	Total					24,500.00

Current report according to the provisions of Article 144 point B para. (1) – (3) of FSA Regulation no. 5/2018

Important events to be reported:

Transaction with related parties

Franklin Templeton Investment Management Ltd. United Kingdom Bucharest Branch, in its capacity as Investment Manager of Fondul Proprietatea S.A. ("the Fund"), hereby informs shareholders and investors that the Fund has concluded a new RON term cash bank deposit with Raiffeisen Bank S.A., as described in Appendix herein.

Franklin Templeton Investment Management Ltd. United Kingdom Bucharest Branch acting as Investment Manager of FONDUL PROPRIETATEA S.A.

Johan MEYER Legal Representative

Report date: 2 October 2020

Name of the issuing entity: Fondul Proprietatea S.A.

Registered office: 78-80 Buzesti Street 7 th floor, district 1, Bucharest, 011017

Phone/fax number: Tel.: + 40 21 200 9600 Fax: + 40 21 200 9631

Email: office@fondulproprietatea.ro

Internet: www.fondulproprietatea.ro

Sole Registration Code with the Trade Register Office: 18253260

Order number in the Trade Register: J40/21901/2005

Subscribed share capital: RON 3,749,282,292.08

Paid-up share capital: RON 3,560,099,870.08

Number of shares in issue: 7,210,158,254

Number of paid shares: 6,846,345,904

Regulated market on which the issued securities are traded: Shares on Bucharest Stock Exchange

GDRs on London Stock Exchange

Appendix

No.	Type of transaction	Date of the transaction	Maturity Date	Total amount (Principal) in RON	Interest (%)	Interest (amount)	Mutual receivables	Issued guarantees	Payment terms and methods	Penalties
1.	cash bank deposit	30 September 2020	1 October 2020	124,700,000.00	1.70%	5,888.61	N/A	N/A	N/A	N/A
2.	cash bank deposit	1 October 2020	2 October 2020	167,200,000.00	1.70%	7,895.56	N/A	N/A	N/A	N/A
2.	cash bank deposit	2 October 2020	5 October 2020	161,700,000.00	1.73%	23,311.75	N/A	N/A	N/A	N/A
	Total					37,095.92

Current report according to the provisions of Article 144 point B para. (1) – (3) of FSA Regulation no. 5/2018

Important events to be reported:

Transactions with related parties

Franklin Templeton Investment Management Ltd. United Kingdom Bucharest Branch, in its capacity as Investment Manager of Fondul Proprietatea S.A. ("the Fund"), hereby informs shareholders and investors that, between 5 October 2020 - 9 October 2020, the Fund has concluded three new RON term cash bank deposits with Raiffeisen Bank S.A., as described in Appendix herein.

Franklin Templeton Investment Management Ltd. United Kingdom Bucharest Branch acting as Investment Manager of FONDUL PROPRIETATEA S.A.

Johan MEYER Legal Representative

Report date: 9 October 2020

Name of the issuing entity: Fondul Proprietatea S.A.

Registered office: 78-80 Buzesti Street 7 th floor, district 1, Bucharest, 011017

Phone/fax number: Tel.: + 40 21 200 9600 Fax: + 40 21 200 9631

Email: office@fondulproprietatea.ro

Internet: www.fondulproprietatea.ro

Sole Registration Code with the Trade Register Office: 18253260

Order number in the Trade Register: J40/21901/2005

Subscribed share capital: RON 3,749,282,292.08

Paid-up share capital: RON 3,560,099,870.08

Number of shares in issue: 7,210,158,254

Number of paid shares: 6,846,345,904

Regulated market on which the issued securities are traded: Shares on Bucharest Stock Exchange

GDRs on London Stock Exchange

Appendix

No.	Type of transaction	Date of the transaction	Maturity Date	Total amount (Principal) in RON	Interest (%)	Interest (amount)	Mutual receivables	Issued guarantees	Payment terms and methods	Penalties
1.	cash bank deposit	5 October 2020	6 October 2020	128,900,000.00	1.70%	6,086.94	N/A	N/A	N/A	N/A
2.	cash bank deposit	6 October 2020	16 October 2020	123,200,000.00	1.70%	58,177.78	N/A	N/A	N/A	N/A
2.	cash bank deposit	7 October 2020	8 October 2020	124,200,000.00	1.70%	5,865.00	N/A	N/A	N/A	N/A
	Total					70,129.72

Current report according to the provisions of Article 144 point B para. (1) – (3) of FSA Regulation no. 5/2018

Important events to be reported:

Transaction with related parties

Franklin Templeton Investment Management Ltd. United Kingdom Bucharest Branch, in its capacity as Investment Manager of Fondul Proprietatea S.A. ("the Fund"), hereby informs shareholders and investors that the Fund has concluded new RON term cash bank deposits with Raiffeisen Bank S.A., as described in Appendix herein.

Franklin Templeton Investment Management Ltd. United Kingdom Bucharest Branch acting as Investment Manager of FONDUL PROPRIETATEA S.A.

Johan MEYER Legal Representative

Report date: 19 October 2020

Name of the issuing entity: Fondul Proprietatea S.A.

Registered office: 78-80 Buzesti Street 7 th floor, district 1, Bucharest, 011017

Phone/fax number: Tel.: + 40 21 200 9600 Fax: + 40 21 200 9631

Email: office@fondulproprietatea.ro

Internet: www.fondulproprietatea.ro

Sole Registration Code with the Trade Register Office: 18253260

Order number in the Trade Register: J40/21901/2005

Subscribed share capital: RON 3,749,282,292.08

Paid-up share capital: RON 3,560,099,870.08

Number of shares in issue: 7,210,158,254

Number of paid shares: 6,846,345,904

Regulated market on which the issued securities are traded: Shares on Bucharest Stock Exchange

GDRs on London Stock Exchange

Appendix

No.	Type of transaction	Date of the transaction	Maturity Date	Total amount (Principal) in RON	Interest (%)	Interest (amount)	Mutual receivables	Issued guarantees	Payment terms and methods	Penalties
1.	cash bank deposit	13 October 2020	14 October 2020	114,600,000.00	1.70%	5,411.67	N/A	N/A	N/A	N/A
2.	cash bank deposit	14 October 2020	15 October 2020	116,300,000.00	1.60%	5,168.89	N/A	N/A	N/A	N/A
3.	cash bank deposit	15 October 2020	22 October 2020	54,800,000.00	1.65%	17,581.67	N/A	N/A	N/A	N/A
4.	cash bank deposit	16 October 2020	23 October 2020	127,400,000.00	1.60%	39,635.56	N/A	N/A	N/A	N/A
	Total					67,797.79

Current report according to the provisions of Article 144 point B para. (1) – (3) of FSA Regulation no. 5/2018

Important events to be reported:

Transaction with related parties

Franklin Templeton Investment Management Ltd. United Kingdom Bucharest Branch, in its capacity as Investment Manager of Fondul Proprietatea S.A. ("the Fund"), hereby informs shareholders and investors that the Fund has concluded a new RON term cash bank deposits with Raiffeisen Bank S.A., as described in Appendix herein.

Franklin Templeton Investment Management Ltd. United Kingdom Bucharest Branch acting as Investment Manager of FONDUL PROPRIETATEA S.A.

Johan MEYER Legal Representative

Report date: 27 October 2020

Name of the issuing entity: Fondul Proprietatea S.A.

Registered office: 78-80 Buzesti Street 7 th floor, district 1, Bucharest, 011017

Phone/fax number: Tel.: + 40 21 200 9600 Fax: + 40 21 200 9631

Email: office@fondulproprietatea.ro

Internet: www.fondulproprietatea.ro

Sole Registration Code with the Trade Register Office: 18253260

Order number in the Trade Register: J40/21901/2005

Subscribed share capital: RON 3,749,282,292.08

Paid-up share capital: RON 3,560,099,870.08

Number of shares in issue: 7,210,158,254

Number of paid shares: 6,846,345,904

Regulated market on which the issued securities are traded: Shares on Bucharest Stock Exchange

GDRs on London Stock Exchange

Appendix

No.	Type of transaction	Date of the transaction	Maturity Date	Total amount (Principal) in RON	Interest (%)	Interest (amount)	Mutual receivables	Issued guarantees	Payment terms and methods	Penalties
1.	cash bank deposit	23 October 2020	6 November 2020	91,700,000.00	1.70%	60,623.89	N/A	N/A	N/A	N/A
2.	cash bank deposit	27 October 2020	17 November 2020	102,200,000.00	1.60%	95,386.67	N/A	N/A	N/A	N/A
	Total					156,010.56