Fondul Proprietatea S A : Completion of the public tender offer

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To:	Bucharest Stock Exchange
	Financial Supervisory Authority
	London Stock Exchange

Current report according to Article 99 letter s) of the Code of the Bucharest Stock Exchange, Title II, Issuers and Financial Instruments.

Important events to be reported:

Completion of the public tender offer in relation to acceleration of the buy- back programme

Franklin Templeton International Services S.À R.L., in its capacity of alternative investment fund manager of Fondul Proprietatea S.A. (the "Fund"), would like to inform shareholders that the public tender offer (the "Offer") ended today.

The key results of the Offer are:

• Total subscriptions: 1,366,366,544 shares representing 828.1009% of the Offer (842,797,344 were subscribed in the form of shares and 523,569,200 shares in the form of global depositary receipts which represent the shares ("GDR"), namely 10,471,384 GDRs)
• Allocation ratio: 0.12075827092
• Number of repurchased shares: 165,000,000 shares (101,774,750 in the form of shares and 63,225,250 shares in the form of GDRs, namely 1,264,505 GDRs);
• Purchase price: RON 1.39 per share and the USD equivalent of RON 69.50 per GDR, computed in accordance with the terms and conditions of the Tender Offer Documentation; the Fund will revert on 17 December 2020 with a further announcement regarding the exchange rate applicable for the GDRs;
• Shares Trade Date: 17 December 2020
• Settlement / payment date: 21 December 2020 for shares. With respect to GDRs, the GDR Tender Agent will no later than 21 December 2020 pay the GDRs purchase price to the Clearing Systems for further distribution to Investors whose GDRs have been accepted for purchase in the Offer.

Franklin Templeton International Services S.À R.L., in its capacity of alternative investment fund manager of FONDUL PROPRIETATEA S.A.

Johan MEYER

Legal Representative

Report date:

16 December 2020

Name of the issuing entity:

Fondul Proprietatea S.A.

Registered office:

78-80 Buzesti Street

7th floor, district 1, Bucharest, 011017

Phone/fax number:

Tel.: + 40 21 200 9600

Fax: + 40 21 200 9631

Email:

[e-mail]

Internet:

www.fondulproprietatea.ro

Sole Registration Code with the Trade Register Office:

18253260

Order number in the Trade Register:

J40/21901/2005

Subscribed share capital:

RON 3,749,282,292.08

Paid-up share capital:

RON 3,560,099,870.08

Number of shares in issue: 7,210,158,254

Number of paid shares: 6,846,345,904

Regulated market on which the issued securities are traded:

Shares on Bucharest Stock

Exchange

GDRs on London Stock Exchange