S C Electroarges S A : OGMS Resolution - 30.06.2022 - English version

TO: BUCHAREST STOCK EXCHANGE

THE FINANCIAL REGULATOR

Current report in accordance with: Law 24/2017 on the issuers of financial instruments and market operations and ASF Regulation no. 5/2018 on the issuers of financial instruments and market operations.

Report date: 01.07.2022

Issuer's name: Electroarges SA

Registered office: Bucharest, Str. Horatiu, nr. 8 - 10, sector 1

Trade Register Registration Code: RO156027

Trade Register Registration Number: J40/8487/2022

Share capital: 6,976,465.00 lei

Important events to report:

OGMS Decisions - 30.06.2022

Electroarges SA informs the capital market supervisory bodies, shareholders and potential investors, that the Electroarges SA OGMS took place on 30.06.2022, at the first summoning, during which it was decided:

DECISION NO. 117 of 30.06.2022

OF THE ELECTROARGES SA

ORDINARY GENERAL MEETING OF SHAREHOLDERS

J40/8487/2022, RO156027

Legally summoned on 30.06.2022, at 08.00 am, at the office from Curtea de Arges, str. Albesti, nr.12, jud. Arges, the Electroarges SA Ordinary General Meeting of Shareholders (the Meeting) carried out its works, at the first summoning, in accordance with the provisions of art.112 of Law 31/1990R, Law 24/2017 and the Company's Articles of Incorporation.

The meeting was attended by 11 shareholders (5 in person and 6 by correspondence), represented or by correspondence, holding a number of 48,845,850 shares, representing 70.02% of the share capital.

The shareholders registered on the Attendance List were entitled to participate and to vote in the Meeting according to the voting rights established by the Company's Register of Shareholders on the reference date 10.06.2022.

A number of 16,100,101 are shares with voting rights suspended, in accordance with the Financial Regulator Decision no. 3501/25.11.2015, Investments Constantin SRL GMS Decision no. 85/27.06.2022, the Financial Regulator Decision no. 758/2022 and the Electroarges SA Board Decision no. 274/28.06.2022.

Following the debates that took place in accordance with the provisions of Law 31/1990R and of the Company's Articles of Incorporation, the Ordinary General Meeting of Shareholders,

DECIDES:

Art. 1. Does not approve by a majority of 32,745,749 "AGAINST" votes (voting rights), representing 100% of the total votes cast (corresponding to voting shares) in the Meeting, 0 votes ''for'' and 0 abstentions:

Revocation of the members of the Electroarges SA Board of Directors.

• The total number of valid votes cast: 32,745,749, representing 46.94% of the share capital;
• A number of 32,745,749 AGAINST votes were cast, representing 100% of the attending voting shares, which represent 46.94% of the share capital;
• Shareholders who voted AGAINST hold 100% of the total shares attending the meeting (including shares with voting rights suspended), respectively 70.02% of the share capital;
• The shareholders representing 0% of the total attending voting shares, which represent 0% of the share capital, voted FOR;
• The shareholders representing 0% of the attending voting shares, which represent 0% of the share capital, ABSTAINED.

Art. 2. Does not approve by a majority of 32,745,749 "AGAINST" votes (voting rights), representing 100% of the total votes cast (corresponding to voting shares) in the Meeting, 0 votes ''for'' and 0 abstentions:

Appointment of a new Electroarges SA Board of Directors consisting of 5 members, for a 4-year mandate, applying the cumulative voting method

• The total number of valid votes cast: 32,745,749, representing 46.94% of the share capital;
• A number of 32,745,749 AGAINST votes were cast, representing 100% of the attending voting shares, which represent 46.94% of the share capital;
• Shareholders who voted AGAINST hold 100% of the total shares attending the meeting (including shares with voting rights suspended), respectively 70.02% of the share capital;
• The shareholders representing 0% of the total attending voting shares, which represent 0% of the share capital, voted FOR;
• The shareholders representing 0% of the attending voting shares, which represent 0% of the share capital, ABSTAINED.

Art. 3. Approves by a majority of 32,745,749 "FOR" votes (voting rights), representing 100% of the total votes cast (corresponding to voting shares) in the Meeting, 300 votes ''against'' and 0 abstentions:

Mandating the Chairman of the Board of Directors and/or the Vice-Chairman of the Board of Directors, to authorize the person or persons who will carry out the necessary steps at the Trade Register Office and wherever necessary, for the registration of the decision and other documents approved by the Ordinary General Meeting of Shareholders of 30.06/ 01.07.2022.

• The total number of valid votes cast: 32,745,749, representing 46.94% of the share capital;
• A number of 32,745,749 FOR votes were cast, representing 100% of the attending voting shares, which represent 46.94% of the share capital;
• Shareholders who voted FOR hold 100% of the total shares attending the meeting (including shares with voting rights suspended), respectively 70.02% of the share capital;
• The shareholders representing 0% of the total attending voting shares, which represent 0% of the share capital, voted AGAINST;
• The shareholders representing 0% of the attending voting shares, which represent 0% of the share capital, ABSTAINED.

Vice-Chairman of the Board of Directors,

Roxana Scarlat