SIF Oltenia : Current Report - 24.02.2021 OGSM resolutions on 24.02.2021

No. 2699 / 24.02.2021

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 FSA Regulation no. 5/2018 regarding the issuers of financial instruments and market operations

Report date: 24.02.2021

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

Headquarters: judeţul Dolj, Craiova, Str. Tufănele nr. 1, cod poştal 200767

Phone/Fax: [phone]

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: Decisions of the Ordinary General Meeting of Shareholders held on 24.02.2021, at first summoning

The Ordinary General Meeting of Shareholders of Societatea de Investiții Financiare Oltenia SA, statutory held on 24.02.2021, at its first summoning, according to the published convening notice in the Official Gazette of Romania, Part IV, no. 269 on 21.01.2021, in national Financiar Newspaper with no. 5.590 on 21.01.2021, and Newspaper Gazeta de Sud no. 7645 on 21.01.2021, on the company's website atwww.sifolt.roand on the company's page, on the website of the Bucharest Stock Exchange, in the presence of shareholders holding 218,292,289 valid voting rights, representing 43.658% of the total voting rights and 41.807% of the share capital of the company, on the reference date 12.02.2021, based on Law no. 31/1990 R, as subsequently amended and supplemented and Law no. 24/2017, of the regulations in force of the Financial Supervisory Authority and the provisions of the Articles of Association of the company, with votes expressed as showed in the meeting's minutes, with the fulfillment of the legal and statutory conditions for the validity of the convocation, the holding of the meeting and the adoption of the decisions, has adopted the following decisions :

1

We approve the election of the meeting's secretarial team, including 3 members, namely Ms Cimpoeru Ana - Internal Auditor, Mr Nedelcu Ion Eugen and Mr Pauna Ioan, whose identification data are available at the company's headquarters. The proposed persons are shareholders of S.I.F. Oltenia S.A..

Votes for 85.053 %, votes against 0.000% and abstentions 14.947 % of all expressed votes.

Note: Whereas Mr. Păuna Ioan was unable to participate in the OGSM, the Minutes of the meeting were drawn up by Mr. Nedelcu Ion Eugen.

D E C I S I O N no. 2

We approve the appointment of notary public Virgil Claudiu Faurar, from the Notary Public Office - SPN Doina Faurar of Craiova, Dolj, for the supervision of the operations incurred by the meeting secretaries, according to art. 129 par. (3) of Law no. 31/1990 R, at the company's expense.

Votes for 90.366%, votes against 0.004 % and abstentions 9.630% of all expressed votes.

D E C I S I O N no. 3

We approve the election of the commission to count the votes expressed by the shareholders regarding the items on the agenda of the Ordinary General Shareholders Meetingincluding three members: Ms Popescu Florentina, Ms Balan Viorica and Ms Talea Mihaela, whose identification data are available at the company's headquarters. The proposed persons are shareholders of S.I.F. Oltenia S.A.

Votes for 85.053 %, votes against 0.000% and abstentions 14.947% of all expressed votes.

D E C I S I O N no. 4

(1) We approve the individual financial statements of S.I.F. Oltenia S.A. as of 31.12.2019, drawn up according to Guideline no. 39/2015 on the approval of Accounting Regulations complying with the International Financial Reporting Standards, applicable to entities authorized, regulated and supervised by the Financial Supervisory Authority for Financial Instruments and Investments, based on the reports of the Board of Directors and of the Financial Auditor (including the provision set up as incentive for employees, for senior managers with a mandate contract and for members of the Board of Directors, based on the provisions in the Articles of Incorporation of S.I.F. Oltenia S.A., on Decision no. 5 of S.I.F. Oltenia S.A. OGSM of 20.04.2013, on Decision no. 9 of S.I.F. Oltenia S.A. OGSM of 04.04.2017, on the mandate contracts of the senior management and on the company's collective employment contract. The fund for the senior managers and for directors from the Board of Directors will be set up and allocated according to the provisions of Decision no. 5 of S.I.F. Oltenia S.A. OGSM of 20.04.2013 and of Decision no 9 of S.I.F. Oltenia S.A. OGSM of 04.04.2017, while the allocation competence for employees is delegated to the top management).

Votes for 99.990%, votes against 0.000% and abstentions 0.010% of all expressed votes.

(2) We approve the consolidated financial statements of S.I.F. Oltenia S.A. as of 31.12.2019, drawn up according to Guideline no. 39/2015 on the approval of Accounting Regulations complyingwith the International Financial Reporting Standards, applicable to Entity authorized, regulated and supervised by the Financial Supervisory Authority - Financial Instruments and Investments Sector, as presented, based on the Report of the Board of Directors and the Report of the Financial Auditor.

Votes for 99.990%, votes against 0.000% and abstentions 0.010% of all expressed votes.

D E C I S I O N no. 5

We approve the allocation of the net profit for the 2019 financial exercise, of 124,132,273.67 RON, as follows:

a). Dividends: 52,214,914.30 RON (42.0639% of the net profit), which ensures a gross dividend per share of 0.10 RON.

The proposed dividend ensures a shareholder compensation rate of 4.70%, calculated at the average share trading price in 2019 (2.1272 RON/share) and 3.91% calculated at the closing price for 2019 (2.56 RON/share).

b). Other reserves (the company's own funding sources): 71,917,359.37 RON (57.9361% of the net profit) in order to establish the required funds for investments, especially for the development of a programme for the redemption of 22,149,143 own shares with a view to reducing the company's registered capital.

Votes for 86.674%, votes against 0.000% and abstentions 13.326% of all expressed votes.

D E C I S I O N no. 6

We approve the payments incurred by the company during 01.07.2020 - 16.07.2020 as "dividends allocated from the net profit of 2019 and paid based on the Financial Instruments Holders Register as of 12.06.2020 (the registration date established in the OGSM attendance notice of 28.04.2020)", of 36,093,495.47 RON, for 5,447 shareholders of S.I.F. Oltenia S.A.

and we establish - with a view to ensuring the shareholders' equal treatment - the existence of receivables against the company, with a total gross value of 16,121,418.83 RON held by 5,730,349 shareholders of S.I.F. Oltenia S.A., registered in the Financial Instruments Holders Register as of 12.06.2020 (the registration date established in the OGSM attendance notice of 28.04.2020), representing dividends allocated from the net profit of 2019 whose payment was suspended as of 16.07.2020.

We approve the company's payment of the required amounts to settle the receivable with a total gross value of 16,121,418.83 RON held by 5,730,349 shareholders of S.I.F. Oltenia S.A., registered in the Financial Instruments Holders Register as of 12.06.2020 (the registration date established in the OGSM attendance notice of 28.04.2020), representing dividends allocated from the net profit of 2019 whose payment was suspended as of 16.07.2020.

We approve the date of 22.03.2021 as the Date of Payment of dividends allocated from the net profit of 2019 whose payment was suspended as of 16.07.2020, to the 5,730,349 shareholders of S.I.F. Oltenia S.A., registered in the Financial Instruments Holders Register as of 12.06.2020. Dividends will be allocated to shareholders according to legal provisions; payment-related costs will be borne by the shareholders from the value of net dividends.

Votes for 99.999%, votes against 0.000% and abstentions 0.001% of all expressed votes.

We acknowledge the Revenues and Expenses Budget for 2020 and of the Strategy for 2020.

D E C I S I O N no. 8

We approve the administrators' accounts for the activity they performed during the 2019 financial exercise.

Votes for 63.299%, votes against 24.490% and abstentions 12.211% of all expressed votes.

D E C I S I O N no. 9

It is not approved the election of an administrator as a member of the Board of Directors of Societatea de Investitii Financiare Oltenia S.A. for a term of office equal to the remaining term of the other administrators who have already been elected, considering that no file of candidacy has been registered.

D E C I S I O N no. 10

We approve 12.03.2021 as the registration date and 11.03.2021 as the ex date, according to the legal provisions in force, for the determination of shareholders affected by the adopted decisions.

Votes for 99.999%, votes against 0.000 % and abstentions 0.001% of all expressed votes.

There are no other events to report.

Board of Administration

Sorin-Iulian CIOACĂ President - General ManagerCompliance officer

Ec. Viorica BĂLAN