Fondul Proprietatea : Notification regarding the transactions performed during the buy-back program

To:	FINANCIAL SUPERVISORY AUTHORITY
BUCHAREST STOCK EXCHANGE
LONDON STOCK EXCHANGE
Re:	Notification regarding the transactions performed within the ninth buy-back programme
From:	FONDUL PROPRIETATEA S.A.

The undersigned, FONDUL PROPRIETATEA S.A. ("FP / The Fund"), represented by Franklin Templeton Investment Management Ltd. United Kingdom Bucharest Branch, acting in its capacity as Investment Manager, hereby informs you in its capacity as Issuer on the following information regarding the transactions concluded during 1 - 3 August 2018:

• a) Issuer's name (buyer)

• b) Broker's namec) Description of the acquired financial instruments

• d) Transaction's type

• e) Details with respect to the execution of the buy-back market orders

FONDUL PROPRIETATEA S.A. Bucharest Stock Exchange Symbol: FP London Stock Exchange Symbol: FP.

WOOD & COMPANY FINANCIAL SERVICES A.S.

(as buy-back agent in relation to the purchase of shares), and

JEFFERIES INTERNATIONAL LIMITED (as buy-back agent in relation to the purchase of GDRs) Ordinary shares issued by the Fund (ISIN ROFPTAACNOR5) listed on the Bucharest Stock Exchange ("BVB"), and

Global Depositary Receipts ("GDRs") (ISIN US34460G1067) corresponding to the Fund's shares listed on the London Stock Exchange ("LSE")

Buy-back

Within the trading session

f) Total number of shares and equivalent shares of 1,584,103 GDRs bought-back in the reporting period, out of which:

- current number of shares bought back 1,584,103

- equivalent shares of current number of GDRs bought back

0

g) Total value of the transactions performed in the 1,381,168.91 reporting period (RON), out of which:

- value of the shares acquisition (RON) 1,381,168.91

- estimated value of the equivalent shares of GDRs based on the exchange rate communicated by the

National Bank of Romania (RON)

h) Total number of shares and equivalent shares of GDRs repurchased since the start of the ninth buy-back program

• - number of shares bought back

• - equivalent shares of current number of GDRs bought back

• - equivalent shares of current number of GDRs converted in shares from the start of ninth buy-back programme

0

1,397,213,398

801,520,498 595,692,900 (representing 11,913,858 GDRs)

587,737,150 (representing 11,754,743 GDRs)

__________________________________________________________________________________________________________________________________________________________________________ FONDUL PROPRIETATEA S.A., an alternative investment fund • 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 • Subscribed share capital RON 4,771,610,196.08, Paid-up Share Capital: RON 4,582,427,774.08 • Tel.: + 40 21 200 9600; Fax: [phone]; Email:[e-mail]; Internet:www.fondulproprietatea.ro

• - % of subscribed share capital as at 30 June 20181

• - % of paid-up share capital as at 30 June 2018

• - % of total voting rights as at 30 June 20182

15.2265% (and 16.0353% computed outstanding treasury shares and equivalent) 15.8552% (and 16.6973% computed outstanding treasury shares and equivalent) 18.9852% (and 19.9936% computed outstanding treasury shares and equivalent)

to to tothe the thetotal total total

i) Total value of the shares repurchased since the start of the ninth buy-back program (RON)

1,303,185,932.74

- value of the shares acquisition (RON) 747,441,666.59

- estimated value of the equivalent shares of GDRs 555,744,266.15 based on the exchange rate communicated by the

National Bank of Romania (RON)

j) Number of shares left to be repurchased within the ninth buy-back programme as of the date of this notification3

363,811,104

The details of the transactions carried out during the reporting period with respect to the shares and GDRs issued by Fondul Proprietatea SA for the purpose of the buy-back are described further below:

Date of the transaction	Market on which the securities were traded	Average price per security (currency)	Volume of the transaction (no. of securities)	Value of the transaction (currency)
1 August 2018	BVB	RON 0.8725	470,845 shares	RON 410,812.26
2 August 2018	BVB	RON 0.8700	607,095 shares	RON 528,172.65
3 August 2018	BVB	RON 0.8736	506,163 shares	RON 442,184.00

Franklin Templeton Investment Management Ltd. United Kingdom Bucharest Branch, in its capacity as Investment Manager of FONDUL PROPRIETATEA S.A.

Johan MEYER

Legal Representative

1 The computations herein related to the subscribed share capital/paid-up share capital are made based on the shareholding structure following the share capital decrease of 26 September 2017 which became effective as of 29 June 2018, and which was registered by the Central Depositary 18 July 2018.

2 The computations herein related to the total voting rights is made based on the shareholding structure as received from the Central Depositary as of 30 June 2018, which do not reflect the share capital decrease of 26 September 2017 which became effective as of 29 June 2018, which was registered by the Central Depositary 18 July 2018.

3 As per the Fund's Extraordinary General Shareholders Meeting Resolution no. 5 of 26 October 2017, the ninth buyback programme refers to the acquisition by the Fund of a maximum number of shares and / or equivalent GDRs corresponding to the Fund's shares computed so that all the outstanding treasury shares (acquired during this programme and/or previous ones) will not exceed 20% of the subscribed share capital at the relevant time, which represents a total of 1,761,024,502 own shares as of the date of this notification; however, after the cancellation of the shares acquired within the previous / ongoing buyback programmes, the 20% limitation will change and the Fund will notify the market accordingly. __________________________________________________________________________________________________________________________________________________________________________ FONDUL PROPRIETATEA S.A., an alternative investment fund • 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 • Subscribed share capital RON 4,771,610,196.08, Paid-up Share Capital: RON 4,582,427,774.08 • Tel.: + 40 21 200 9600; Fax: [phone]; Email:[e-mail]; Internet:www.fondulproprietatea.ro