Fondul Proprietatea

Capital/Financing Update • Mar 8, 2016

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To: Bucharest Stock Exchange Financial Supervisory Authority London Stock Exchange

Current report according to Article 99 of the Code of the Bucharest Stock Exchange, Title II, Issuers and Financial Instruments.

Events to be reported:

Execution of Addendum no. 2 to the Credit Facility Agreement with Citibank Europe PLC Dublin - Romanian Branch

Franklin Templeton Investment Management Ltd. United Kingdom Bucharest Branch, in its capacity as sole director and fund manager of Fondul Proprietatea S.A. ("the Fund"), would like to inform shareholders and investors that on 7 March 2016, the Fund and Citibank Europe PLC Dublin - Romanian Branch agreed to amend certain provisions of the Credit Facility Agreement signed on 4 May 2015, and amended by Addendum no. 1/17 December 2015, among which, splitting the current committed facility of RON 500,000,000 (five hundred million) into a committed facility of maximum RON 375,000,000 (three hundred and seventy-five million) and an uncommitted facility of maximum RON 125,000,000 (one hundred and twenty-five million).

As previously mentioned, the purpose of the credit facility is for general corporate use (including share buybacks, but excluding investments) and the availability period of the facility, which started on 4 January 2016, ends on 31 August 2016 (inclusive).The final reimbursement should take place on 30 September 2016, at the latest.

Franklin Templeton Investment Management Ltd. United Kingdom Bucharest Branch, acting as Sole Administrator on behalf of FONDUL PROPRIETATEA S.A.

Oana Valentina TRUŢA Legal Representative

Report date: 8 March 2016

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

Registered office: 78-80 Buzesti St., 7 th floor, district 1, Bucharest, postal code 011017

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

Sole Registration Code with the Trade Register Office: 18253260

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

Subscribed share capital: RON 10,074,080,745.90

Paid-up share capital: RON 9,746,649,630.90

Number of shares in issue: 11,193,423,051

Number of paid shares: 10,829,610,701

Regulated market on which the issued securities are traded:

Shares on Bucharest Stock Exchange

GDRs on London Stock Exchange

FONDUL PROPRIETATEA S.A., a closed-end investment company administrated under a unitary system • 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 10,074,080,745.90, Paid-up Share Capital: RON 9,746,649,630.90 • Tel.: + 40 21 200 9600; Fax: +40 21 200 9631; Email: office@fondulproprietatea.ro; Internet: www.fondulproprietatea.ro

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