Armatura : 2021 Annual Report-Completion of Financial Auditor Report ESEF related opinion

JPAuditors & Advisors

ClujNapoca, Pta. Avram Iancu, Nr. 15

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To: Armătura SA shareholders

Report on compliance with the requirements of the ESEF Regulation of the electronic format of financial statements (XHTML) included in the annual report

1. We have made a reasonable commitment to the compliance of the financial statements presented in XHTML format by Armatura SA ("the Company") for the financial year ended 31 December 2021, with the requirements of Commission Delegated Regulation (EU) 2018/815 of 17 December 2018 as regards regulatory technical standards on the specification of a single electronic reporting ("ESEF Regulation").
2. These procedures relate to testing the format and consistency of the electronic financial statements (XHTML) with the audited financial statements and expressing an opinion on the compliance of the electronic financial statements of the Company for the financial year ended 31 December 2021 with the requirements of the ESEF Regulation. In accordance with these requirements, the electronic format of the financial statements included in the annual report must be presented in XHTML format.

Responsibility of the management and of the persons responsible for the governance of the Company

1. The Company's management is responsible for complying with the requirements of the ESEF Regulation when preparing the electronic XHTML format of the financial statements and for ensuring consistency between the electronic format of the financial statements and the audited financial statements.
2. Management's responsibility also includes designing, implementing and maintaining the internal controls it deems necessary to enable the preparation of ESEF financial statements that are free from material misstatement of the ESEF Regulation.
3. Those responsible for governance are responsible for overseeing the financial reporting process with regard to the preparation of financial statements, including the application of the ESEF Regulation.

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JPAuditors & Advisors

ClujNapoca, Pta. Avram Iancu, Nr. 15

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Tel [phone]

Auditor's responsibility

1. It is our responsibility to express a reasonable assurance on the compliance of the electronic format of the financial statements with the requirements of the ESEF Regulation.
2. We conducted a reasonable assurance mission in accordance with ISAE 3000 (revised)

"Assurance engagements other than auditing or reviewing historical financial information" [ISAE 3000 (revised)]. This standard requires us to adhere to ethical standards and to plan and carry out our mission in such a way as to obtain reasonable assurance about the extent to which the electronic format of the Company's financial statements is prepared in all material respects in accordance with the ESEF Regulation. The nature, timing and extent of the selected procedures depend on our reasoning, including an assessment of the risk of material misstatement in relation to the requirements of the ESEF Regulation caused by either fraud or error.

1. Reasonable assurance is a high level of assurance, but there is no guarantee that the ISAE 3000 (revised) assurance mission will always detect a significant distortion of requirements, if any.
2. We apply the International Standard on Quality Control 1, "Quality Control for Companies Conducting Audits and Reviews of Financial Statements, and Other Assurance Assignments and Related Services", and we therefore maintain a sound quality control system, which includes policies and documented procedures regarding compliance with ethical requirements, professional standards and legal and regulatory provisions applicable to auditors registered in Romania.
3. We have maintained our independence and confirm that we have complied with the requirements of ethics and independence imposed by the International Code of Ethics for Professional Accountants (including international standards of independence) issued by the International Accounting Standards Board (IESBA Code).

Procedures performed

11. The goal of the procedures that I planned and carried out was to obtain a reasonable assurance that the electronic format of the financial statements is prepared in all material respects in accordance with the requirements of the ESEF Regulation. In progress In our assessment of compliance with the requirements of the ESEF Electronic Reporting Format (XHTML) of the Company's financial statements, we maintained our professional skepticism and applied professional judgment. Also

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JPAuditors & Advisors

ClujNapoca, Pta. Avram Iancu, Nr. 15

Fax[phone]

Tel [phone]

• we have obtained an understanding of the internal control and processes related to the application of the ESEF Regulation with respect to the Company's financial statements, including the preparation of the Company's financial statements in XHTML format.
• we have verified that the electronic format of the financial statements (XHTML) corresponds to the audited financial statements of the Company for the financial year ended December 31, 2021.
• we have assessed whether the financial statements that are included in the 2021 annual financial report are prepared in a valid XHTML format.

Conclusion

12. Based on the procedures we have performed, in our opinion, the electronic format of the financial statements (XHTML) is prepared, in all material respects, in accordance with the requirements of the ESEF Regulation.

Other issues

1. Our report has exclusively the purpose established in the first paragraph of this report, it is prepared for the information of the Company's Shareholders and of the submission to the Financial Supervisory Authority and the Bucharest Stock Exchange. Our report should not be construed as being appropriate for use by any party wishing to acquire rights with us other than the Company for any purpose or in any context. Any party other than the Company that obtains access to or a copy of our report and chooses to rely on our report (or any part of it) will do so at its own risk.
2. Our commitment has been made to be able to report to the Company's Shareholders those matters which we must report in an independent limited insurance report and not for other purposes.

Partner,

Sebastian Andrei Bichescu.

Authority for Public Supervision a

Statutory Audit Activity (ASPAAS)

Financial auditor: Bichescu Sebastian

Andrei Electronic Public Registry:

AF3109

In the name, Authority for Public Supervision a Statutory Audit Activity (ASPAAS)

Audit firm: JP AUDITORS & ADVISORS SRL Public electronic register: FA944

JP Auditors & Advisors SRL

Cluj Napoca, May 31, 2022.

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