BVB Monthly Report September 2018 For further information: Florin Cepraga, Senior PR Specialist, ,

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2 THE TOTAL RETURN INDEX OF THE BUCHAREST STOCK EXCHANGE SURGES BY 17% IN THE FIRST NINE MONTHS TO REACH ALL-TIME HIGHS Bucharest Stock Exchange keeps on growing steadily in the first nine months as the total return index BET-TR grows by 17 percent Lucian Anghel, BVB President: BET-TR should be the first index investors should watch in order to evaluate the yield of the main listed companies as the dividend component is significant Shares value from the main index BET goes up by 8.5%, the second largest growth pace among the main indices of the stock exchanges from the European Union Adrian Tanase, BVB CEO: The Bucharest Stock Exchange achieved a double performance in the first nine months. Thus, in addition to the good developments in relation to the other capital markets in the European Union, we also recorded an improvement in the ratings given by the main international index providers during this period Bucharest Stock Exchange (BVB) has marched on a steady pace to growth and surges by 17.5 percent at the end of the first nine months for the total return index BET-TR, which also includes the dividends paid by the companies from the main index of the Romanian capital market. BET-TR reached record high values last month and recorded the largest values since its launch in "BET-TR should be the first index investors should watch in order to evaluate the yield of the main listed companies as the dividend component is significant, considering the Romanian capital market is renowned for having among the highest dividend yields in the world," stated Lucian Anghel, President of the Board of Governors of BVB. BET, the main index of the Bucharest Stock Exchange including the most traded 15 companies excepting the Financial Investment Companies (SIFs), went up by 8.5% in the January-September period and had the second largest growth pace among the main indices of the stock exchanges from the European Union. Only 10 main indices within the EU capital markets managed to stay in the black at the end of the first nine months this year. Top growth rates for the main indices within the EU capital markets (January-September 2018) CYMAIN (Cyprus) 10.09% BET (Romania) 8.50% HEX25 (Finland) 7.82% OMXS30 (Sweden) 5.42% LUXX (Luxembourg) 3.63% CAC40 (France) 3.41% SBITOP (Slovenia) 3.21% PX (The Czech Republic) 2.20% SAX (Slovakia) 1.77% AEX (Greece) 0.93% Source: BVB, Reuters "The Bucharest Stock Exchange achieved a double performance in the first nine months. Thus, in addition to good developments in relation to the other capital markets in the European Union, we also recorded an improvement in the ratings given by the main international index providers during this period. We are developing new products and services, focus on expanding our investor base and attract new companies so that we can increase the relevance of BVB in the local and regional economy," said Adrian Tanase, CEO of BVB

3 The total value of the financial instruments traded on BVB exceeded EUR 2 billion in the first nine months, while the average daily trading value for equities amounted to EUR 8.7 million. The stock market capitalization of Romanian companies amounted to over EUR 20.5 billion at the end of the first nine months, while the capitalization of all the listed companies on the Main Market of BVB exceeded EUR 36 billion. Market news Bucharest Stock Exchange (BVB), the flagship institution of the local capital market, increased from 13 to 15 the number of companies that will be included in BET and BET-TR indices. The Index Committee decided on September 3 rd to include Sphera Franchise Group and Purcari Wineries in the main index BET and in BET-TR, the total return version of BET. It is for the first time in the history of the Romanian capital market when the two indices include 15 companies. The changes came to effect on September 24 th. *** Bittnet and Globalworth, two companies with strong visibility and activity on the Bucharest Stock Exchange (BVB), have received international recognition at the fourth edition of the Central and Eastern European Capital Markets Awards held on September 12 th in Warsaw. The annual award ceremony brings to the forefront the most important achievements of listed companies in the regional capital markets. Bittnet, the first the first IT company listed on Bucharest Stock Exchange, was awarded first prize for "Best IR department of a listed company CEE". Globalworth, which set a new record for the largest bonds issue on BVB, came first at "Top M&A deal of the year". *** PKO BP Securities, part of the largest Polish bank and leading broker in Poland, and Bucharest Stock Exchange (BVB) organized on September 13, 2018, the Romanian Capital Day in Warsaw. The event offered a unique opportunity to meet top Romanian companies listed on the Bucharest Stock Exchange on a one-on-one basis. This conference is a perfect platform to facilitate business relations between Romanian listed companies and large Polish and regional investor base. Following the increasing interest for Romania in recent years, BVB decided to organize the first dedicated Romania investors day in Warsaw, where nine Romanian companies presented their investment opportunities to international investors. The list of the companies included: Banca Transilvania, DIGI Communications, Electrica, Fondul Proprietatea, Nuclearelectrica, Purcari Wineries, Sphera Franchise Group, Transelectrica and Bucharest Stock Exchange. During the event, the Romanian companies had 54 meetings with institutional investors representing EUR 94 bn assets under management. *** FTSE Russell released on September 26, 2018 its latest Annual Country Classification Review, according to which Romania was maintained on the watch list of countries for possible reclassification from Frontier to Secondary Emerging market. Romania was added to this watch list in September According to the FTSE Russell report, in September 2018, the FTSE Russell Country Classification Advisory Committee updated the criterion rating changes for off-exchange transactions permitted and liquidity

4 BVB Monthly Report Trading value on BVB Regulated Spot Market SEPTEMBER 2018 A. Summary of Main Indicators 1. Trading value on the BVB s Regulated Spot Market for September 2018 compared with August 2018 September 2018 August 2018 % Change RON mil. EUR mil. RON mil. EUR mil. RON EUR Financial instruments already issued / registered Equities Bonds Unit funds, ETF Structured products New Issues and further issues Equities Bonds Total Regulated Spot Market, out of which: Total Equities Total Bonds Trading value on the BVB s Regulated Spot Market for September 2018 compared with September 2017 (YoY) September 2018 September 2017 YoY % Change RON mil. EUR mil. RON mil. EUR mil. RON Financial instruments already issued / registered , Equities , Bonds Unit funds, ETF Structured products New Issues and further issues Equities Bonds

5 Total Regulated Spot Market, , out of which Total Equities , Total Bonds The value traded on the BVB s Regulated Spot Market for January - September 2018 compared with January - September 2017 (YTD) January - September 2018 January - September 2017 YTD % Change RON mil. EUR mil. RON mil. EUR mil. RON Financial instruments already issued / registered 9, , , , Equities 7, , , , Bonds 1, Unit funds, ETF Structured products New Issues and further issues , Equities Bonds Total Regulated Spot Market, 9, , , , out of which: Total Equities 7, , , , Total Bonds 1, , The average daily value on the BVB s Regulated Spot Market for September 2018 compared with August 2018 September August 2018 % Change RON mil. EUR mil. RON mil. EUR mil. RON EUR Financial instruments already issued / registered Equities Bonds Unit funds, ETF Structured products New Issues and further issues Equities Bonds 5. The average daily value on the BVB s Regulated Spot Market for September 2018 compared with September 2017 (YoY) age September 2018 September 2017 YoY % Change RON mil. EUR mil. RON mil. EUR mil. RON Financial instruments already issued / registered Equities

6 Bonds Unit funds, ETF Structured products New Issues and further issues Equities Bonds The average daily value YTD on the BVB s Regulated Spot Market YTD 2018 YTD 2017 YTD % Change RON mil. EUR mil. RON mil. EUR mil. RON Financial instruments already issued / registered Equities Bonds Unit funds, ETF Structured products New Issues and further issues Equities Bonds The evolution of indices Index Value for 9/30/2018 % Change September 2018 % YTD Index values forseptember 2018 RON EUR RON EUR RON EUR minimum maximum BET 8, , , , BET-TR 12, , , , BETPlus 1, , , , BET-FI 36, , , , BET-XT BET-BK 1, , , , BET-XT-TR 1, , , , BET-NG ROTX 17, , , Market Indicators RON mil. EUR mil. Market capitalization (regulated market) 168, , Market capitalization (domestic market) 95, , velocity (regulated market)

7 velocity (domestic market) PER 8.73 P/BV 0.93 DIVY 7.98 B. Specific Market Indicators 1. Trading value and market capitalization by activity sector Sector Trading value (RON mil.) Market capitalization (RON mil.) PER PBV DIVY FINANCIAL AND INSURANCE ACTIVITIES , MINING AND QUARRYING , MANUFACTURING , TRANSPORTATION AND STORAGE , PROFESSIONAL, SCIENTIFIC AND TECHNICAL ACTIVITIES ELECTRICITY, GAS, STEAM AND AIR CONDITIONING SUPPLY HUMAN HEALTH AND SOCIAL WORK ACTIVITIES , , CONSTRUCTION ACCOMMODATION AND FOOD SERVICE ACTIVITIES WHOLESALE AND RETAIL TRADE; REPAIR OF MOTOR VEHICLES AND MOTORCYCLES Other , Note: - PER is calculated based on market capitalization of companies which recorded profit - P/BV and DIVY are computed for domestic companies - 7 -

8 2. Top 5 listed shares by turnover September 2018 (RON mil.) (EUR mil.) Weight in total turnover shares (%) TLV BANCA TRANSILVANIA S.A SNP OMV PETROM S.A BRD BRD - GROUPE SOCIETE GENERALE S.A FP FONDUL PROPRIETATEA SNG S.N.G.N. ROMGAZ S.A Top 5 listed shares with highest increase September 2018 End of period return (%) YTD (%) Low price (RON) High price (RON) Last price (RON) ART TMK - ARTROM S.A CNTE CONTED SA MECE MECANICA FINA SA OLT OLTCHIM S.A. RM. VALCEA COTR TRANSILVANIA CONSTRUCTII SA Top 5 listed shares by market capitalization 9/30/2018) Market capitalization RON mil. EUR mil. % RON P/BV PER (RON) DIVY (RON) EBS Erste Group Bank AG 72, , SNP OMV PETROM S.A. 20, , SNG S.N.G.N. ROMGAZ S.A. 13, , TLV BANCA TRANSILVANIA S.A. 11, , BRD BRD - GROUPE SOCIETE GENERALE S.A. 9, ,

9 5. Top 5 structured products by turnover September 2018 (RON mil.) (EUR mil.) Weight in total turnover structured products (%) EBDAXTL56 EB DAX TURBO LONG 0,01/11,122/11, BKDOWTL58 BRK DOW TURBO LONG BKDOWTS58 BRK DOW TURBO SHORT BKDOWTS53 BRK Dow Turbo Short EBDAXTL55 EB DAX TURBO LONG 0,01/10.844/ Top 5 bonds products by turnover September 2018 (RON thous.) (EUR thous.) Weight in total turnover Bonds (%) B1904A MINISTERUL FINANTELOR PUBLICE 1, B1811A MINISTERUL FINANTELOR PUBLICE B2106A MINISTERUL FINANTELOR PUBLICE TIM26C MUNICIPIUL TIMISOARA B1906A MINISTERUL FINANTELOR PUBLICE Unit funds (including ETF) by turnover September 2018 TVBETETF FOND DESCHIS DE INVESTITII ETF TRADEVILLE for the month (RON thous.) (EUR thous.) Weight in total turnover Unit funds, ETF (%) STK STK EMERGENT BTF FONDUL INCHIS DE INVESTITII BET FI INDEX INVEST

10 8. IPO, SPO and other offer markets September 2018 Instrument type Type of offer (RON mil.) 9. New listings for September 2018 Instrument type Listing Date BKDOWTS58 BRK DOW TURBO SHORT Structured 9/7/2018 BKDOWTS56 BRK DOW TURBO SHORT Structured 9/7/2018 BKDOWTS57 BRK DOW TURBO SHORT Structured 9/7/2018 BKDOWTL58 BRK DOW TURBO LONG Structured 9/7/2018 BKDOWTL57 BRK DOW TURBO LONG Structured 9/7/

11 Methodological notes Section A. Summary of Main Indicators 1. Financial instruments already issued this category includes all the statistical data related to the existing financial instruments, regardless of the type of the operations carried out. The total values traded as well as the average daily value for this category are based on: trading operations performed on regular, deal; offers and operations performed with the existing financial instruments such as: buy offer, takeover offer, secondary offer for selling the existing financial instruments, other methods of selling the existing financial instruments, offers without prospectus or with simplified prospectus for currently issued financial instruments. 2. New issues and further issues this category contains the statistical data related to the issuance of new instruments based on the primary / initial offers as well as data regarding the increase of the capital for already listed companies, based on further issues. This category is related to the capital raised by the issuers. 3. The total value traded is single counted. 4. The total value traded expressed in EUR is calculated considering the daily EUR value, based on the currency rate available for each trading session. 5. Equities includes shares and rights. 6. Bonds includes all types of bonds available for trading at BVB (municipal, corporate, government securities). Section B. Specific Market Indicators Trading value displayed in this section for a financial instrument includes the turnover registered in all market in which the respective financial instrument is traded. Bucharest Stock Exchange undertakes all the reasonable efforts to ensure that data included in this document was correct at the time of publication. However, Bucharest Stock Exchange shall not be responsible or liable for decisions taken or system-related or other activity performed by any part based on this report

BVB Monthly Report October 2018 For further information: Florin Cepraga, Senior PR Specialist, ,

BVB Monthly Report October 2018 For further information: Florin Cepraga, Senior PR Specialist, , - 1 - THE TOTAL TRADING VALUE GOES UP BY 20 PERCENT IN OCTOBER FOR ALL THE SEGMENTS OF THE BUCHAREST STOCK EXCHANGE The total trading value increased last month by over 20 percent for all the financial