Fondul Proprietatea Regulatory News (FP.)

Fondul Proprietatea SA 's Assets and Liabilities based on NAV calculation according with the CNVM Regulation No. 4 / 2010, as subsequently amended

Lei

Legend:

* = Represents the number of shares related to the paid-up subscribed share capital (according to provisions of Law 247/2005, Title VII, Art. 92, alin. 5 "Subscribed unpaid shares are not taken into account for the computation of net asset value per share for Fondul Proprietatea") excluding (a) the Fund's own shares bought back (Treasury shares), according to provisions of CNVM Regulation no. 4/2010, as subsequently amended, and (b) the equivalent number of shares corresponding to the GDRs bought back

** = Include also the value of holdings admitted to trading on AeRo market (alternative regulated market)

*** = Include the number of companies admitted to trading on AeRo market (alternative trading system)

Franklin Templeton International Services S.à r.l., in its capacity of alternative investment fund manager of Fondul Proprietatea SA

BRD Groupe Societe Generale

Annex - Valuation methods used for the securities and the monetary market instruments held by Fondul Proprietatea S.A. as at 25 October 2021

The valuation methods used for the computation of the NAV as at 25 October 2021, for the securities and the monetary market instruments held by Fondul Proprietatea S.A. are the following:

1. Listed companies on BVB traded within last 30 trading days: Closing Price;

2. Listed companies on AeRo market (alternative trading system) traded within last 30 trading days: Reference price;

3. Listed companies with no trades within last 30 trading days: Fair value / share;

4. Unlisted companies: Fair value / share;

5. Companies in insolvency, judicial reorganization, liquidation, dissolution or bankruptcy: Valued at zero;

6. Unlisted companies for which the annual financial statements for the previous year are not available within 90 days after the legal submission deadline: Valued at zero;

7. Listed government bonds: Fair value (reference composite price, including the cumulated interest);

8. Bank deposits: Bank deposit amount cumulated with the accrued interest receivable calculated for the period elapsed since its creation date.

Franklin Templeton International Services S.à r.l., in its capacity of alternative investment fund manager of Fondul Proprietatea SA

Annex - Changes in the valuation methods used for the computation of the NAV of Fondul Proprietatea as at 25 October 2021

For the computation of the NAV of Fondul Proprietatea SA as at 25 October 2021, the valuation method used for the investment in the company presented below has been updated:

IOR SA

For this holding, the valuation method has been changed from Fair value (Last available trading price) (respectively RON 0.1700/ share) to Reference price (respectively RON 0.1700/ share) according to CNVM Regulation 4/2010, as subsequently amended, because the shares of this company were traded during the last 30 trading days. This change of valuation method did not have any impact on the Fund's NAV.

Franklin Templeton International Services S.à r.l., in its capacity of alternative investment fund manager of Fondul Proprietatea SA