Santierul Naval Orsova S.A.

AGM Information • Jan 18, 2020

To:

THE STOCK EXCHANGE – Department for Operations Issuers of Regulated Markets FINANCIAL MONITORING AUTHORITY – Sector of Instruments and Financial Investment

CURRENT REPORT ACCORDING TO LAW NO. 24/2017 AND TO THE ASF REGULATION NO. 5/2018 CONCERNING THE ISSUERS OF FINANCIAL INSTRUMENTS AND MARKET OPERATIONS

Date of the Report: 10.01.2019

Trading company: S.C. ŞANTIERUL NAVAL ORŞOVA S.A;

Main headquarters: no. 4 Tufări Street, Orşova Town, Mehedinţi County;

Phone number: 0252/362399; Fax no.: 0252/360648

Unique registration code at the Trade Register Office: RO 1614734;

Number and registration date at the Trade Register Office: J25/150/03.04.1991;

Share capital issued and paid up: 28.557.297,5 lei

Number of shares: 11.422.919 common shares, of 2,5 lei each;

It is listed at the Stock Exchange Bucharest, STANDARD categories under symbol: SNO;

IMPORTANT EVENT TO REPORT:

THE RESOLUTION NO. 48 FROM THE DATE OF 17.01.2020 OF THE GENERAL ORDINARY MEETING OF THE SHAREHOLDERS

General Ordinary Meeting of Shareholders from SC SANTIERUL NAVAL ORSOVA S.A., scheduled for the date of 17/18 January 2020, held his works at first calling, respectively 17 th of January 20 10:00 AM, being accomplished conditions of quorum and publicity in according with legal provisions (Law of commercial companies no. 31/1990, republished, with subsequent additions and modifications; Law no. 297/2004 regarding capital market and ASF regulation no. 5/2018), as results from the minutes of the technical secretariat of the meeting, respectively:

• Announcement of the General Ordinary Meeting of the Shareholders convocation was published at least 30 days before meeting in :
  • " Official Journal" IVth part, no. 5152 from 11.12.2019
  • "Datina" Magazine no. 7496 from 12.12.2019
  • "BURSA" Magazine no. 232 from 12.12.2019
• Materials to be debated was published on company`s website www.snorsova.ro at the term announced on the convocation, respectively 11.12.2019, with access rights for all interested persons.
• From total number of shareholders enrolled in shareholder`s register, given by Depozitarul Central SA Bucuresti, at the reference date of 31th December 2019, expressed there votes – directly and via correspondence, shareholders detaining 78,37 % from social capital, being fulfilled quorum conditions, in according with art. 112 from Comercial Companies Law no. 31/1990, republished, with subsequent additions and modifications and art. 15, 3rd alignment from Constitutive Act.

After discussion of all other materials on the agenda, General Ordinary Shareholders Meeting,

DECIDE:

Art.1. The income and expenses budget for the year 2020, is approved in unanimity in according to the proposal of the Management Board, respectively:

Total incomes	66.917.600
Total expenses	63.167.600
Gross profit	3.750.000
Net profit	3.180.000

Art.2. The investment programme for the year 2020, amounting to a total of 837,000 Euro, respectively 4.000.000 lei, is approved unanimously by the Management Board proposal.

- LEI -

Art.3. The empowerement of Mr. Mircea Ion Sperdea, the general manager of the company is approved in order to sign the resolution of the General Ordinary Meeting of the Shareholders (AGOA) and of any other necessary documents for the execution of the AGOA Resolution and for the realization of the formalities in view of publicity and registration.

Present decision is integrant part of the minutes issued by the nominee commission in this sense and will be given to publicity in according with legal dispositions, regarding continuously information of shareholders.

This decision, adopted with quorum concluded by law, will be deposed in legal term to Commerce Registry Office from Mehedinty County to be mentioned on register and published in Official Journal of Romania, IV-th part, and one original accompanied by all other documents provided by legal norms will issued to Financial Surveillance Authority and Stock Exchange Bucarest, by caring of general manager of company, mr. eng. Sperdea Mircea Ion.

PRESIDENT OF THE MANAGING BOARD, Ec. Manager Mihai Fercala

MINUTES ISSUING COMMISION:

• 1. Ing. Stoinel Florin
• 1. Ec. Cirstoiu Maria
• 1. Ing. Mangu Marin