A. The Extraordinary General Meeting of Shareholders held on April 25, 2016 at the first convening; resolutions adopted

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Current Report according to: Law 297/2004, CNVM Regulation 1/2006 Report date: April 4, 2017 Regulated market on which the issued securities are traded: Bucharest Stock Exchange, Premium Category To:

1 Current Report according to: Law 297/2004, CNVM Regulation 1/2006 Report date: April 4, 2017 Regulated market on which the issued securities are traded: Bucharest Stock Exchange, Premium Category To: BUCHAREST STOCK EXCHANGE FINANCIAL SUPERVISORY AUTHORITY Financial Instruments and Investments Sector Important events: A. The Extraordinary General Meeting of Shareholders held on April 25, 2016 at the first convening; resolutions adopted B. The Ordinary General Meeting of Shareholders held on April 25, 2016 at the first convening; resolutions adopted A. The Extraordinary General Meeting of Shareholders held on April 25, 2016 at the first convening; resolutions adopted The Extraordinary General Meeting of Shareholders of SIF Moldova held at the first convening, on April 4, 2017 at the headquarter of SIF Moldova from Bacau, 94C Pictor Aman street, downstairs. In accordance with the convener, there were entitled to attend and vote the persons that were shareholders at the reference date, March 21, At the meeting attended in person, by representative or by correspondence a number of 140 shareholders, owning a total of 462,930,403 voting shares, representing % of the total voting shares of SIF Moldova share capital ( shares with voting rights; 16,000,000 shares, representing 1.54% of the share capital are nonvoting shares, being bought back by SIF Moldova according to Resolution no. 4 of EGMS of April 1, 2015 and no. 4 of EGMS of April 25, 2016). The General Meeting was chaired by Mr. Costel Ceocea, President and CEO of SIF Moldova. Within the Extraordinary General Meeting there were discussed and approved all the items on the agenda, in compliance with statutory provisions (article 6 paragraph 19 of SIF Moldova Memorandum of Association) and the provisions of Law no. 31/1990 on companies, namely by the majority of the votes of the shareholders attending or represented, as follows: Resolution. no. 1. Approves the election of the secretariat of the extraordinary general meeting comprised of 3 individuals, entered on the vote ballots, from among the shareholders of the company, according to art. 129, line (2) of Law no. 31/1990 regarding companies: Nicolaescu George Catalin, Puscas Michaela, Sofian Virginia. 1

2 Resolution no. 2. Approves the run of an own share buy-back program for the purpose of reducing the share capital, with the following main characteristics: a) program purpose: the company will buy back shares within the Program in order to reduce its share capital, by having the shares annulled, according to applicable legal regulations b) Maximum number of shares that can be bought-back: 29,000,000 shares. c) Minimum price per share: the minimum purchase price will be the BVB market price, from the moment the purchase is made. d) Maximum price per share: 1.5 lei. e) Program duration: maximum 12 months from the date the decision is published in Romania s Official Gazette, part IV. f) The payment of the bought-back shares is made from the assignable profit registered on the financial statements 2016, according to art. 103 index 1 Law no. 31/1990 regarding companies. g) Share purchase within the Program will be made through all market operations allowed by the law, which may also include public purchase offers initiated by the Company, abiding by legal provisions. Mandates the Board of Directors, and individually its members to adopt all decisions needed to fulfill the resolution regarding the running of the share buy-back program. Resolution no. 3 Approves the modification of article 7 paragraph 3 index 1 of SIF Moldova s Memorandum of Association, to have the following content: The Company is managed by a Board of Directors comprised of 5 members, natural individuals, elected or appointed by the General Ordinary Meeting of Shareholders for a period of 4 years, with the possibility of being re-elected. Resolution no. 4 Approves the amendment of Article 7 paragraph 19 of the Memorandum of Association of SIF Moldova SA, thorough the introduction of letter i) index 1, with the following content: Art. 7, line (19) The Board of Directors shall have the following attributions: i^1) adopting the proper measures regarding the setting and application of Corporate Governance Code, regarding, without limitation to, the following: 1. setting the relevant criteria for the monitoring of the activity of executive/ higher management of the company as a whole, as well as annual evaluation of the criteria application method; 2. analysis of the adequacy, efficiently and update of the risk management system in order to efficiently manage assets held, as well as the analysis of the way the risks the company is exposed to, are managed; 3. insurance of the abidance by the requirements regarding the outsourcing / assignment of some operational activities or functions, both before they are carried out and during the entire duration of outsourcing/ assignment; 4. analysis and setting remuneration policies, so that these correspond to the business strategy, objectives and long-term interests and include measures for the prevention of conflict of interests; 5. insurance of the development and application of ethical and professional standards to insure a professional and responsible behaviour on the level of the company, in order to present the occurrence of conflict of interests; 2

3 6. approval of the risk appetite and tolerance limits of the company, as well as the procedures for the identification, evaluation, monitoring, management and reporting of significant risks that the company is, or could be exposed to; 7. insurance of the elaboration of plans to insure the continuity of activity and for emergency situations and their half-yearly assessment Resolution no. 5 Approves the date of as registration date (ex-date: ) of shareholders impacted by the effects of the resolutions adopted by the extraordinary general meeting of shareholders. Resolution no. 6 Empowers the Board of Directors and its individual members to fulfill the resolutions adopted by the General Extraordinary Meeting of Shareholders. B. The Ordinary General Meeting of Shareholders held on April 4, 2017 at the first convening; resolutions adopted The Ordinary General Meeting of Shareholders of SIF Moldova held at the first convening, on April 4, 2017, 11:00 am, at the headquarter of SIF Moldova from Bacau, 94C Pictor Aman street, downstairs. In accordance with the convener, there were entitled to attend and vote the persons that were shareholders at the reference date, March 21, At the meeting attended in person, by representative or by correspondence a number of 142 shareholders, owning a total of 472,108,399 voting shares, representing % of the total voting shares of SIF Moldova share capital ( shares with voting rights; 16,000,000 shares, representing 1.54% of the share capital are nonvoting shares, being bought back by SIF Moldova according to Resolution no. 4 of EGMS of April 1, 2015 and n0. 4 of EGMS of April 25, 2016). The General Meeting was chaired by Mr. Costel Ceocea, President and CEO of SIF Moldova. Within the Ordinary General Meeting there were discussed and approved all the items on the agenda, in compliance with statutory provisions (article 6 paragraph 18 of SIF Moldova Memorandum of Association) and the provisions of Law no. 31/1990 on companies, namely by the majority of the votes of the shareholders attending or represented, as follows: Resolution no. 1. Approves the election of the secretariat of the aordinary general meeting comprised of 3 individuals, entered on the vote ballots, from among the shareholders of the company, according to art. 129, line (2) of Law no. 31/1990 regarding companies: Nicolaescu George Catalin, Puscas Michaela, Sofian Virginia. Resolution no. 2. Approves the Activity Report of the Board of Directors for year 2016, including the Corporate Governance Code of SIF Moldova revised, in compliance with the provisions of ASF Regulation no. 2/

4 Resolution no. 3. Approves the individual financial statements (IFRS), for financial year 2016, accompanied by the opinion of the financial auditor: total revenue lei total expenses lei profit before taxation lei profit tax lei net profit lei Resolution no. 4. Approves: a) The 2016 net profit distribution, as follows: net profit to be distributed lei legal reserves lei Dividends lei Other reserves lei b) gross dividend of 0,044 lei/share. c) the costs corresponding to the payments are borne from net dividend value. d) The payment of dividends is made through the Central Depository and payment agent Banca Transilvania in order to insure the continuity of the dividend payment process for SIF Moldova shareholders. e) Approves the date of as registration date (ex-date ) and date as dividend payment date. Resolution no. 5. Approves the expiry of dividends corresponding to financial year 2013 set by OGMS on , uncollected by and their registration according to applicable regulations. Resolution no. 6. Approves the discharge of administration for financial year Resolution no. 7. Approval of 2017 Activity Program, in agreement with Investment Policies Statements (OGMS Resolution no. 8/ ). Approves the Revenue and Expense Budget for financial year total revenue: lei total expenses: lei gross profit: lei net profit: lei Resolution no. 8. Approves the election of the Board of Directors for a 4 years mandate ( ), with the maintaining, during the mandate period, of the Administration Agreement and Management Agreements approved through EGMS no. 2/ published in Romania s Official Gazette part 4, no of ; OGMS no. 15, 16 and 17 of published in Romania s official gazette part IV no of

5 Resolution no Approves the result of administrator s election through secrete vote: Ceocea Costel, Ciorcila Horia, Doros Liviu Claudiu, Iancu Catalin-Jianu-Dan, Radu Octavian Claudiu. Resolution no. 9. Approves the appointment of Deloitte Audit SRL as financial auditor for a period of 2 years ( ), given the result of secret vote and provisions of SIF Moldova s Memorandum of Association. Resolution no. 10. Approves the date of , as registration date (ex-date: ) of the shareholders impacted by the effects of the resolutions adopted by the ordinary general meeting of shareholders, with the exception of the resolution concerning dividend. Resolution no. 11. Empowers the Board of Directors and its individuals member for the fulfillment of the resolutions adopted by the Ordinary General Meeting of Shareholders. *** The General Meeting of Shareholders takes note of the decisions adopted by the Board of Directors, at its first extraordinary meeting on the management structures for the mandate : election as President of the Board of Directors - Ceocea Costel election as Vice President of the Board of Directors - Radu Octavian Claudiu appointment as General Manager - Doros Liviu-Claudiu appointment as Deputy General Manager - Iancu-Catalin Jianu Dan. Board resolutions will be subject to a current report. General Meeting of Shareholders approves the minutes of counting and validating decisions. Costel Ceocea President and CEO Michaela Puscas Internal Control 5

The general meeting will be held at the headquarters of SIF Moldova SA Bacau, str. Pictor Aman no. 94 C, the meeting hall.

The general meeting will be held at the headquarters of SIF Moldova SA Bacau, str. Pictor Aman no. 94 C, the meeting hall. THE BOARD OF DIRECTORS OF SOCIETĂŢII DE INVESTIŢII FINANCIARE MOLDOVA SA headquartered in Bacău municipality, str. Pictor Aman no. 94C, cod 600164, Bacău district, registered in the Trade Registry under