| 0 SIF BANAT- CRIANA 2012 ANNUAL REPORT COMPANY PROFILE COMPANY - PDF document

| 0 SIF BANAT- CRIȘANA 2012 ANNUAL REPORT

COMPANY PROFILE COMPANY NAME Societatea de Investiții Financiare Banat - Crișana S.A. (hereinafter referred to as “SIF Banat - Crișana” or “the Company”) COMPANY TYPE ▪ closed-end investment company with a diversified investment policy ▪ set-up as a joint stock company in November 1996 pursuant to the provisions of Law 133/1996 for the conversion of the Private Property Funds (FPP) into Financial Investment Companies (SIF) ▪ Romanian legal entity with private capital SHARE CAPITAL ▪ RON 54,884,926.80 – subscribed and paid-in capital ▪ 548,849,268 issued shares ▪ shares with a nominal value of RON 0.10 REGISTRATIONS ▪ J02/1898/1992 at Trade Registry of the Arad Court ▪ Unique Registration Code 2761040 ▪ Number in ASF Registry PJR09SIIR/020002/2006 MAIN ACTIVITY Main activity is, as per the classification of economic activities in the national economy (CAEN): financial intermediation, except insurance and pension funding (CAEN code 64), and the main object of activity: Other financial intermediation n.c.a. (CAEN code 6499): ▪ financial investments to maximize the value of own shares pursuant to the regulations in force; ▪ management of the investment portfolio and exercising all rights associated to the investments; ▪ other additional and related activities pursuant to the regulations in force. TRADING MARKET The company is listed since November 1, 1999 on the regulated market of Bucharest Stock Exchange (BVB) – Premium category - ticker SIF1 FINANCIAL AUDITOR PricewaterhouseCoopers Audit SRL DEPOSITARY BRD - Groupe Société Générale SHARES AND Depozitarul Central S.A. Bucharest SHAREHOLDERS’ REGISTRY HEADQUARTERS Arad , 35A Calea Victoriei, 310158, Romania TEL +40257 304 438 FAX +40257 250 165 EMAIL sifbc@sif1.ro WEB www.sif1.ro BRANCH OFFICE Bucharest 175 Calea Floreasca, 7th floor, room A1, sector 1, 014459, Bucharest, Romania | 1 SIF BANAT- CRIȘANA 2012 ANNUAL REPORT

KEY FIGURES FINANCIAL POSITION [RON mn] 2013 2014 2015 2016 Total assets, of which 1,612.83 1,638.61 1,941.52 2,110.19 Total financial assets 1,515.19 1,537.76 1,763.12 2,071.89 Equity 1,441.56 1.540.04 1,788.81 1,954.25 Total liabilities 171.27 98.56 152.72 155.94 FINANCIAL PERFORMANCE (IFRS) [RON mn] 2013 2014 2015 2016 Income 28.23 22.60 51.28 107.16 Gains on investment 56.98 140.52 52.85 2.26 Expenses 17.77 14.61 15.78 25.12 Gross profit 67.44 148.51 88.34 84.30 Net profit 45.12 139.00 75.32 81.36 FINANCIAL INDICATORS [%] 2013 2014 2015 2016 ROE (net profit / equity) 3.13 9.03 4.21 4.16 ROA (net profit / total assets) 2.8 8.48 3.88 3.86 Gross profit margin (gross profit / total income) 58.7 61.6 63.5 36.91 SHARES AND NET ASSET PERFORMANCE 2013 2014 2015 2016 Share price (year end, in RON) 1.292 1.303 1.688 1.848 Net asset value* / share (RON) 2.9094 2.9228 3.3541 3.7075 PER 15.72 5.14 12.30 11.5 Dividend / share (RON) - 0.1 - ** Accounting net asset* / share (RON) 2.6265 2.8059 3.2592 3.7727 Nominal value of share (RON) 0.1 0.1 0.1 0.1 Number of issued shares 548,849,268 548,849,268 548,849,268 548,849,268 Number of outstanding shares 548,849,268 548,849,268 548,849,268 518,000,000 OPERATIONAL DATA 2013 2014 2015 2016 Number of employees, year end 51 48 41 38 Number of branch offices 2 2 1 1 SHAREHOLDING STRUCTURE as at December 31, 2016 number of shareholders stake Romanian individuals 5,765,205 39.97% Non-resident individuals 1,962 0.39% Romanian legal entities 177 30.35% SIF Banat- Crișana (treasury stock) *** 1 5.62% Non-resident legal entities 37 23.67% TOTAL 5,767,382 100% * non-portfolio items calculated based on accounting records pursuant to RAS for 2013 -2015; and under IFRS for 2016 ** as per GMS decision *** own shares repurchased in the public tender offer from August 2016 CONTACT Investor Relations : email comunicare@sif1.ro tel +40257 250 181 | +40257 304 446 SIF BANAT- CRIȘANA COMPANY PRESENTATION | 2

PORTFOLIO UNDER MANAGEMENT Progress of net asset value (NAV) The net asset value (NAV) of SIF Banat- Crișana recorded a positive performance in 201 6, 4.3% above the value recorded 2015-year end, reaching RON 1,920.5 mn as at December 30, 2016 (2015*: RON 1,840.9 mn). The net asset value per share (NAV/S) rose 10.5%, to RON 3.7075 as at 2016 year-end, as compared to RON 3.3451, the value recorded on December 31, 2015. The difference in terms of variation (%) between NAV and NAV/S is due to the change in the number of outstanding shares starting August 2016, following the public tender for repurchase of own shares. The own shares purchased under the buyback program (treasury stock) are excluded from the number of shares used in the calculation of NAV/S. The monthly net asset values were calculated by SIF Banat- Crișana during 2016 pursuant to the regulations issued by the Financial Supervisory Authority (ASF). The calculated values for NAV were certified by BRD - Groupe Société Générale, the depositary bank of Company’s a ssets. The monthly reports for the calculation of NAV were submitted to the Bucharest Stock Exchange and ASF – Securities and Financial Investment Sector, and were published on SIF Banat- Crișana’s website - www.sif1.ro - no later than 15 calendar days from the end of the reporting month. * although SIF Banat- Crișana has prepared annual financial statements for the year ended December 31, 2015 pursuant to IFRS, restating the accounts prepared as per Romanian Accounting Regulations ("RAS"), based on the ASF letter no. DRA1232.1/08.03.2016, the non-portfolio items in the calculation of NAV as at December 31, 2015 are treated as per RAS. SIF BANAT- CRIȘANA COMPANY PRESENTATION | 3

MONTHLY NET ASSET VALUE January - December 2016 1,935 1,921 2,000 1,915 1,889 1,913 1,872 1,805 1,800 1,777 1,768 1,800 1,733 1,730 RON mn 1,600 1,400 1,200 1,000 Jan. Feb. Mar. Apr. May Jun. Jul. Aug. Sept. Oct. Nov. Dec. The statement for SIF Banat- Crișana assets and liabilities as at December 31, 2016, prepared pursuant to the provisions of Regulation no. 15/2004 (Annex 16), Regulation no. 9/2014 and Regulation no. 10/2015, is presented on company’s website . The net asset value was on an uptrend in 2016, mainly driven by the rise of prices of listed shares in the portfolio (Banca Transilvania, Erste Bank, BRD-Groupe Société Générale, Vrancart). SIF1 DISCOUNT TO NAV in 2016 SIF1 NAV/S % discount 55% 3.7355 3.7075 3.6927 3.6973 3.6476 3.4102 3.2368 3.2791 3.2213 3.2894 3.5 RON 3.1516 3.1571 50% 50% 49% 3.0 RON 47% 47% 47% 46% 45% 45% 45% 45% 45% 2.5 RON SIF1 RON/share 44% 44% 2.0 RON 1.8480 40% 1.6840 1.7160 1.6740 1.6600 1.5 RON 1.5580 1.4540 1.4560 1.4300 1.5380 1.5300 1.4880 35% 1.0 RON 30% 0.5 RON Jan. Feb. Mar. Apr. May Jun. Jul. Aug. Sept. Oct. Nov. Dec. NOTE: SIF1 closing price at the date of report for NAV/S SIF BANAT- CRIȘANA COMPANY PRESENTATION | 4

NET ASSET VALUE vs. MARKET CAPITALIZATION RON mn 1,921 net asset value (NAV) 1,841 1,900 SIF1 Mk. Cap. 1,597 1,604 1,542 1,361 1,317 1,297 1,300 1,011 1,014 926 700 715 709 666 620 557 496 305 100 2008 2009 2010 2011 2012 2013 2014 2015 2016 NOTE: net asset values are those reported for the end of December for each year; for 2008 – 2015 non-portfolio items were calculated based on accounting records pursuant to Romanian Accounting Regulations (RAS); and under IFRS for 2016 mk. cap. calculated using closing price for SIF1 in the last trading day of the year; The methodology for calculating the net asset value During 2016 (January - December), net asset value calculation was performed pursuant to the provisions of Art. 113-122 of ASF Regulation no. 9/2014 and ASF Regulation no. 10/2015. Per these regulations, listed securities are valued at the closing market price for the day for which the calculation is made. The securities not admitted to trading on a regulated market or not traded during the last 30 trading days are valued at the book value per share recorded in the most recent annual financial statements, or equity value comprised in the monthly reports submitted to BNR (the Romanian central bank) for credit institutions. Fixed income instruments are valued using the method of daily interest recognition and amortization of discount / premium for the period passed from the date of the investment. Shares of companies undergoing insolvency proceedings, liquidation or reorganization are valued at zero until the completion of the procedure. Value of non-portfolio items considered for the calculation of net asset value are based on accounting records under International Financial Reporting Standards (IFRS). SIF BANAT- CRIȘANA COMPANY PRESENTATION | 5