S.C. Fondul Proprietatea SA · BVB:FP

S.C. Fondul Proprietatea SA — Fondul Proprietatea — Shareholder Meeting (November 2022)

24 slides from S.C. Fondul Proprietatea SA's shareholder meeting presentation, Nov 15, 2022

  1. Slide 1: Fondul Proprietatea – General Shareholders Meeting

    Fondul Proprietatea – General Shareholders Meeting 15 November 2022

  2. Slide 2: Fund Information

    Fund Information Is FONDUL ey FRANKLIN » TEMPLETON eel

  3. Slide 3: Key Facts

    Key Facts Fund Details RON USD NAV as at 31 October 2022 15.48 bn 3.13 bn NAV / Share as at 31 October 2022 2.7052 0.5467 Price / Share as at 14 November 2022 1.8860 0.3963 Price / GDR as at 14 November 2022 93.27 19.60 Market Capitalization as at 14 November 20221 10.78 bn 2.27 bn Discount / Share

  4. Slide 4: Market performance

    Market performance FP Adjusted Share Price (RON) vs. Discount / Premium (%) 2.10 5% 1.85 -3% 1.60 -12% 1.35 -21% 1.10 -29% 0.85 -38% 0.60 -47% 0.35 -55% 0.10 -64% 1/11 10/11 7/12 4/13 1/14 10/14 6/15 3/16 12/16 9/17 6/18 3/19 11/19 8/20 5/21 2/22 11/22 Adjusted Share Price (RON) Discount / Premium (

  5. Slide 5: Shareholder structure

    Shareholder structure Evolution (% Held)1 2% 2% 3% 3% 6% 3% 3% 10% 10% 8% 7% 10% 8% 10% 6% 4% 3% 12% 12% 14% 14% 4% 3% 10% 3% 18% 3% 3% 3% 5% 6% 3% 3% 3% 3% 3% 14% 20% 3% 17% 15% 14% 12% 25% 22% 12% 10% 11% 15% 14% 14% 17% 6% 43% 54% 16% 18% 16% 14% 14% 55% 28% 22% 18% 17% 16% 53% 37% 37% 31% 34% 35

  6. Slide 6: Portfolio

    Portfolio — 7 = ie %

  7. Slide 7: Largest Holdings by NAV

    Largest Holdings by NAV NAV as at % in NAV Majority % FP 31 October 2022 as at Portfolio Company Status Shareholder Stake1 (USD mn) 31 October 2022 Hidroelectrica Unlisted Romanian State 19.9% 2,448.2 78.3% OMV Petrom Listed OMV 2.9% 148.8 4.8% Bucharest Airports Unlisted Romanian State 20.0% 140.6

  8. Slide 8: Hidroelectrica – Update

    Hidroelectrica – Update 9mo 2022 preliminary results IPO Corporate governance • According to the management, in the first • Listing approval: On 31 March 2022 shareholders • Shareholders approved in nine months of the year, the company approved the initiation of the listing of the Company’s October

  9. Slide 9: OMV Petrom – Update

    OMV Petrom – Update 9mo 2022 financials Business and operational updates • Consolidated sales revenues increased by 160% • The subscription period for the share capital increase approved by y.o.y., supported mainly by higher prices and higher shareholders in April ended in October, and the registrat

  10. Slide 10: Bucharest Airports – Update

    Bucharest Airports – Update Financials 2016 2017 2018 2019 2020 2021 H1 2021 H1 2022 % y.o.y. Operating revenues (mn RON) 754.7 890.9 992.6 1,066.6 405.6 578.0 181.5 444.1 144.7% Operating result (mn RON) 263.6 337.6 445.9 399.0 (175.3) 40.8 (52.4) 160.0 405.3% Net Income / Loss (mn RON) 224.7 290.7

  11. Slide 11: Constanta Ports – Update

    Constanta Ports – Update Financial performance 2016 2017 2018 2019 2020 2021 H1 2021 H1 2022 % y.o.y. Operating revenues (RON mn) 314.0 330.5 345.2 369.0 398.8 418.9 215.6 250.2 16.0% Operating profit (RON mn) 54.8 93.8 95.8 117.0 145.9 140.6 108.4 106.8 (1.5)% Net Income (RON mn) 36.8 79.7 75.7 108

  12. Slide 12: Salrom – Update

    Salrom – Update Financial performance 2016 2017 2018 2019 2020 2021 H1 2021 H1 2022 % y.o.y. Operating revenues (RON mn) 312.4 394.1 436.9 469.2 300.2 374.5 161.2 195.4 21.2% Operating profit (RON mn) 36.3 107.3 93.5 84.6 15.8 70.1 26.0 41.7 60.4% Net Income (RON mn) 27.4 81.1 76.4 77.0 11.5 60.2 22

  13. Slide 13: Enel Group companies – Update

    Enel Group companies – Update • Starting with H2 2021, the companies are struggling with the crisis that hit the entire energy sector following the increase of the electricity prices, and the introduction of the Support scheme for the payment of the electricity and gas bills between April 2022 – Mar

  14. Slide 14: Corporate Actions

    Corporate Actions FONDUL @. FRANKLIN -° TEMPLETON

  15. Slide 15: Distributions to Shareholders

    Distributions to Shareholders Annual Distributions to Shareholders (RON mn) 1,124.3 552.7 507.7 1,499.0 1,778.5 923.6 1,190.8 1,743.7 1,870.6 1,081.3 1,483.0 1,508.1 1,832.2 2,000 25.4% 29% 18.3% 21.9% 17.5% 18.3% 711.5 23% 1,500 583.1 600.0 832.5 15.5% 328.1 1,121.5 14.8% 16.1% 10.5% 14.5% 17% 1,00

  16. Slide 16: Cash distributions to shareholders

    Cash distributions to shareholders Gross Cash distribution Net Cash distribution Distribution Financial year Paid in (RON / share) (RON / share) Dividend 2008-2009 (aggregate) 2010 0.08160 0.06854 Dividend 2010 2011 0.03141 0.02638 Dividend 2011 2012 0.03854 0.03237 Dividend 2012 2013 0.04089 0.0343

  17. Slide 17: Average annual increase in Total assets: 4.5%

    Average annual increase in Total assets: 4.5%. Total Distributions account for over 56% of December 2010 NAV 24,171.1 8,692.2 0.07% Average annual increase in Total assets excluding cash distributions 15,328.0 14,465.4 14,979.0 15,014.0 15,478.9 13,237.0 13,244.6 12,088.0 11,427.4 11,871.5 10,790.4

  18. Slide 18: Positive Evolution of the NAV / Share including Cash Distributions

    Positive Evolution of the NAV / Share including Cash Distributions: 324% increase as at 31 October 2022 4.7215 2.0163 2.7052 2.2624 1.7339 1.6974 1.2436 1.2125 1.2375 1.4095 1.1124 1.0788 1.1371 1.1564 1.1865 Dec 10 Dec 11 Dec 12 Dec 13 Dec 14 Dec 15 Dec 16 Dec 17 Dec 18 Dec 19 Dec 20 Dec 21 Oct 22

  19. Slide 19: Shareholder Returns

    Shareholder Returns 3.9023 2.0163 269.4% 1.8860 27.6% 0.4000 0.5105 Average Share Price Average Share Price Current Before BVB listing¹ in 2011 Share Price² Share price (RON) Total Gross Cash Distribution (RON) Source: BVB. 1. Source: Intercapital Invest January 2011 report, and press articles. 2. A

  20. Slide 20: Total dividend income from portfolio companies

    Total dividend income from portfolio companies FP Net Dividend 2013 2014 2015 2016 2017 2018 2019 2020 2021 202212 Total Dividends from Listed Companies (RON mn) 373.9 538.6 251.5 36.0 148.1 199.6 223.0 200.2 117.0 127.7 Total Dividends from Unlisted Companies (RON mn) 275.81 143.5 315.9 315.2 404.5

  21. Slide 21: 15 November 2022 GSM Agenda – Main Points (I)

    15 November 2022 GSM Agenda – Main Points (I) Only the persons registered as shareholders of Fondul Proprietatea on 17 October 2022 (the Reference Date) in the register of shareholders kept by Depozitarul Central S.A. have the right to participate and vote at the GSM EGM agenda • The approval of the

  22. Slide 22: 15 November 2022 GSM Agenda – Main Points (II)

    15 November 2022 GSM Agenda – Main Points (II) The approval of: 8 December 2022 as Ex – Date; 9 December 2022 as Registration Date OGM agenda • The approval of the 2023 budget. • At the proposal of the Board of Nominees of Fondul Proprietatea: • The approval of the amendment of the Management – The

  23. Slide 23: Fondul Proprietatea / Franklin Templeton

    FONDUL PROPRIETATEA FONDUL | FRANKLIN PROPRIETATEA TEMPLETON FRANKLIN TEMPLETON

  24. Slide 24: Thank You

    Fondul Proprietatea Premium Point Buzesti Street 76-80, 1st District Bucharest 011017 www.fondulproprietatea.ro Thank You

Fondul Proprietatea — Shareholder Meeting (November 2022) on 6ix