SIF Oltenia S.A.

M&A Activity • Feb 5, 2020

No. 928 / 05.02.2020

Translation from Romanian into English

To: BUCHAREST STOCK EXCHANGE Fax no.: 021-307.95.19

FINANCIAL SUPERVISORY AUTHORITY Financial Instruments and Investments Sector Fax no.: 021.659.60.51

NOTIFICATION ON THE RESULTS OF THE PURCHASE PUBLIC OFFER

according to the art. 76 par. 2 of the ASF Regulation no. 5/2018 regarding the financial instrument issuers and market operations

Report Date: 05.02.2020

The public offer for purchasing the shares issued by SIF Oltenia SA, launched by SIF Oltenia SA, was carried out during the period 16.01.2020 - 30.01.2020.

Please consider below the results of this offer, presented pursuant to the Annex no. 11 of the ASF Regulation no. 5/2018:

1. Name of the issuer:	Societatea de Investiții Financiare Oltenia S.A.
2. Name of the tenderer:	Societatea de Investiții Financiare Oltenia S.A.
3. Intermediary of the offer:	SSIF VOLTINVEST S.A.
4. Number of the ASF decision	Decision no.7/08.01.2020 of the Financial Supervisory
by which the public offer	Authority approving the public offer document for
document was approved:	purchasing shares issued by SIF Oltenia S.A.
5. Period of the offer	16.01.2020– 30.01.2020
6. Number and percentage	87,090,061 shares representing 15.0112% of the
represented by the securities	subscribed share capital of the issuer
deposited under the offer
7. Number of securities	38,393,986 shares representing 105,583,461.50 lei
purchased and the total amount
paid:

8. Date and method of	04.02.2020 through Depozitarul Central
settlement of the transaction
related to the public offer:
9. Percentage held by the	Following the completion of the offer, the tenderer owns
tenderer following the	58,016,571 shares, representing 9.9999% of the share
completion of the offer:	capital of Societatea de Investiții Financiare Oltenia S.A.

TENDERER INTERMEDIARY

S.I.F. OLTENIA S.A. SSIF VOLTINVEST S.A.

Associate Prof. PhD ec. Tudor CIUREZU Cristinel Sandu POPESCU

General Manager General Manager

Associate Prof. PhD ec. Cristian BUȘU Ion BERBEC

Deputy General Manager Deputy General Manager