VES SA

Board/Management Information • Feb 15, 2016

Two-tier system of corporate governance

10.02.2016

TO

FINANCIAL SUPERVISION AUTHORITY BUCHAREST STOCK EXCHANGE

CURRENT REPORT PURSUANT TO THE REGULATION 1/2006 OF THE ROMANIAN NATIONAL SECURITIES COMMISSION ON ISSUERS AND OPERATIONS WITH SECURITIES AND TO LAW 297/2004 ON THE CAPITAL MARKET

Date of report: 10.02.2016 Name of the company: SC. VES S.A. Company headquarters: Sighișoara, Str. Mihai Viteazu, Nr. 102. Fax: 0265/778 865 – 0265/779 710 Telephone: 0365/808 884 – 0365/808 885. Sole identification number (Tax ID): RO122.36.04 Trade Register number: J-26-2/1991 Subscribed and paid-up capital: 11.881.718,5 lei Regulated market where issues securities are traded: BVB.

Important event to report: Resolution of the Supervisory Board number 5 as of 09.02.2016 hereby attached.

CHAIRMAN OF THE BOARD FELMER HANS CHRISTIAN.

Two-tier system of corporate governance

RESOLUTION NUMBER 5 AS OF 09/02/2016

The Supervisory Board of S.C. VES S.A., seated in Sighișoara, str. Mihai Viteazu, nr. 102, jud. Mureș, registered with the Trade Register under no. J26/2/1991, VAT no. RO1223604, in a statutory meeting, convened using the communication means provided by the Memorandum of Association , held on 9 February 2016, in the presence of its members, Ildate Management SRL, through permanent representative Alexandru Farcas – Chairman, Monica Elena Farcas – Vice-President, Fetita Alin-Sorin – Member,

Pursuant to Article 1539 of Law 31/1990 on trading companies and to Article 17 of the Memorandum of Association of the Company,

Within the limits provided by Article 15322 of Law 31/1990 on trading companies and Article 241 of Law 297/2004 on the capital market,

DECIDES:

Article 1: Takes note of the expiration of the mandate granted to the Executive Board, as of 10.02.2016.

Article 2: The following members of the Executive Board shall be appointed for the period 10.02.2016 – 09.02.2020:

• FELMER HANS CHRISTIAN, Chairman of the Executive Board and Chief Operations Officer;
• CONSTANTIN BOGDAN, Member of the Executive Board and Chief Sales Officer;
• VOINESCU CLAUDIA, Member of Directorate and Chief Procurement Officer;

Article 3: The clauses pertaining to the management agreement shall be approved and Mr. Alexandru Farcas, the permanent representative of the Chairman of the Supervisory Board is appointed to negotiate and sign on behalf and on account of the Company the management agreements with the members of the Executive Board.

President of the Supervisory Board Ildate Management SRL By permanent representative Alexandru Farcas Illegible signature Stamp: VES SA Trading Company, Sighisoara 3/A, Romania

C.S. Secretary

Roxana Morutan Illegible signature