SIF Oltenia : Current Report - 04.12.2020 Decision of the Board of Directors

No. 7098/ 04.12.2020

Translation from Romanian into English

To: BUCHAREST STOCK EXCHANGE

Fax no.: 021-307.95.19

FINANCIAL SUPERVISORY AUTHORITY

Financial Instruments and Investments Sector

Fax no.: 021.659.60.51

CURRENT REPORT

according to Law no. 24/2017 and F.S.A. Regulation no. 5/2018 on issuers

of financial instruments and market operations

Report date: 04.12.2020

Name of the issuer: Societatea de Investiţii Financiare OLTENIA S.A.

Headquarters: Dolj County, Craiova, 1 Tufănele Street, postal code 200767

Phone/Fax: [phone]-419.340

Fiscal Registration Code: RO 4175676

Order number at the Trade Register: J16/1210/30.04.1993

FSA Register Number:PJR071AFIAA/160004/15.02.2018

ISIN: ROSIFEACNOR4

LEI Code: 254900VTOOM8GL8TVH59

Depozitory-Custodian: Raiffeisen Bank S.A.

Depozitory: Depozitarul Central Bucuresti

Share capital subscribed and paid: 52,214,914.30 lei

Regulated market on wich the issued securities are traded on: Bucharest Stock Exchange - Shares, Premium Tier (market symbol SIF5)

Important event to report:

Decision of S.I.F. Oltenia S.A. Board of Directors met on 04.12.2020

The Board of Directors of the Societatea de Investiții Financiare Oltenia S.A. met for the first meeting on 04.12.2020, having the composition resulted following the Decision no. 4B on 29.10.2020 adopted by the S.I.F. Oltenia S.A. Ordinary General Shareholder Meeting and authorised by the Financial Supervisory Authority through Authorisation no. 191/03.12.2020, namely: Sorin-Iulian Cioacă, Mihai Trifu, Adrian Andrici, Matei Codrin.

DECIDED

Art.1. SIF Oltenia SA Board of Administration Directors takes note of the ASF letter no. SI/DRA 6760.28 on 03.12.2020.

Art. 2. Decision no. 29/29.10.2020 of SIF Oltenia SA. Board of Directors is revoked.

Art.3. (1) Mr. Sorin - Iulian Cioacă is elected in the position of President of the S.I.F. Oltenia S.A. Board of Directors.

1. According to the provisions of the S.I.F. Oltenia S.A. articles of incorporation, Mr. Sorin - Iulian Cioacă shall act also as General Manager ( member of the senior management complying with the capital market regulations and Internal Regulations of S.I.F. Oltenia S.A.).

Art.4. (1) Mr. Mihai Trifu is elected in the position of Vice president of S.I.F. Oltenia S.A. Board of Directors.

1. According to the provisions of the S.I.F. Oltenia S.A. articles of incorporation, Mr. Mihai Trifu shall act also as Deputy General Manager ( member of the senior management complying with the capital market regulations and Internal Regulations of S.I.F. Oltenia S.A.).
   Note: Mr. Sorin - Iulian Cioacă and Mr. Mihai Trifu shall exercise the duties assigned to the positions of General Manager and Deputy General Manager respectively, after approval by the ASF in the capacity of members of the senior management according to the capital market regulations, only.

Art.5. Mr. Adrian Andrici and Mr. Codrin Matei are elected as members of Nomination and Remuneration Committee within SIF Oltenia S.A. Board of Directors.

Art. 6. Mr. Sorin-Iulian Cioacă is hereby empowered as President of the Board of Directors to sign all the market notification documents (current reports, statements etc.), as well as in the relationship with the competent authorities (including Financial Supervisory Authority) until ORC registration and ASF approval of the senior management.

There are no other events to report.

President of the Board of Directors

Sorin-Iulian Cioacă

Ec. Viorica Bălan

Compliance Officer