Transilvania Investments' strategy for the next 4 years: sustainable growth of net assets and investor returns

On 22 April this year, Transilvania Investments shareholders are invited to vote for the strategy that will be the core of the investment fund's activity for the next 4 years. Annual growth of at least 6% of the net asset value per share and annual reduction of at least 7% of the trading discount are the most important objectives of the investment fund team. The strategy proposed to shareholders for approval is published here.

The General Meeting of Shareholders takes place at a time when Transilvania Investments has obtained its best financial results in the last 5 years, with a profit of RON 237 million, increasing by 270% compared to the previous year and with assets under management amounting to RON 1.82 billion, increasing by 28%. The net asset value per share at the end of 2023 reached the record value of RON 0.8019.

These results allow the investment fund to allocate resources for development and investments and to ensure the shareholders remuneration both through the payment of dividends (RON 0.015/share, a yield of more than 5% related to the average trading price of the previous year) and through share buy-back programmes.

At the General Meeting of Shareholders to be held in Brasov, the investment fund comes to shareholders with a new executive team, currently under approval by the F.S.A., and an investment strategy for the next four years that responds to investor expectations. The main objective: maximising returns for the investors and ensuring sustainable growth of the net asset value.

Among the most important directions of action is the restructuring of the historical portfolio of holdings that have exhausted their growth potential. The Investment Fund has already taken the first steps in this direction by exiting from the shareholding of some companies, the exit policy being further implemented in order to secure sources of funding for investments with higher expected returns. Of these, assets in the tourism sector present important development opportunities. Solutions such as operating under international brands, which has been approached for the hotels in the ARO Palace portfolio, can also be implemented in other tourism companies in which the Fund is a majority shareholder.

Active trading, in order to maintain an adequate liquidity level profile of the managed portfolio, and efficient and centralised exploitation of real estate assets, including those of the industrial sector companies, are other directions of action that the fund team proposes to shareholders.

This strategy, based on balance and optimization, will allow Transilvania Investments to maintain the medium risk profile of the managed portfolio. For the first time, for the period 2024-2028, the fund defines clear objectives related to the annual growth of the Unit Net Asset Value (NAV) - at least 6%, and for the annual reduction of the trading discount - at least 7%.

Also as a new feature, Transilvania Investments will gradually review the company's sustainability policies and procedures (Environmental, Social, Governance), so that by 2028, the investment fund will integrate the sustainability-related risks into its investment decisions and consider the adverse impacts of investment decisions on sustainability factors. At the same time, the fund aims to gradually implement non-financial reporting in line with the relevant standards.

The information documents on the Fund's strategy, as well as on the other items on the agenda of the General Meetings of Shareholders convened for 22/23 April in Brasov are available on the company's website, in the sections O.G.M.S. April 2024 and E.G.M.S. April 2024. Shareholders who are unable to attend in person have the possibility to vote by electronic means or by correspondence until 19 April this year.

Brasov, March 29th, 2024

On the 14th of February 2024, Aro Palace SA announces the signing of a Letter of Intent with an affiliate of Hyatt Hotel Corporation for the potential inclusion of Aro Palace Hotel into the international portfolio of Hyatt-branded hotels. The property is expected to be operated under the name “Hyatt Regency, Aro Palace Brasov”.

“We are delighted to take the first step towards joining the Hyatt family and bringing their world-class hospitality standards to Romania," stated Attila Joós, CEO of Aro Palace S.A. “Merging Hyatt’s global brand excellence with our deep understanding of the local culture and traditions will enhance our ability to attract guests from around the world and leverage their experience.”

“Aro Palace takes an important step in the strategy defined to elevate this renowned asset from our portfolio. Among all top hospitality brands we considered, Hyatt is undoubtedly the top choice, and we are eager to embark on this journey together.”, said Radu Roșca, CEO of Transilvania Investments, the investment fund that controls 85% of Aro Palace shares.

Dr. Ray Iunius, CEO of Winsed.Swiss, expressed his enthusiasm for the project, stating, “This collaboration not only signifies a remarkable development for the hospitality industry but also aligns with Winsed.Swiss's mission to facilitate strategic partnerships that redefine hotel management and guest experiences."

Established in 1939 in Brașov, Aro Palace Brasov features 189 guest rooms and suites and a further 67 executive rooms and suites, a spa, bars, and business lounges. The hotel is a premier choice for visitors in the area due to its location which offers a 360-degree perspective on the historic centre of Brasov. Aro Palace company is listed on the Bucharest Stock Exchange under ARO. The company portfolio also includes Capitol Hotel, a 180-key hotel with conference facilities, and 2 restaurants undergoing a radical restructuring process which will open its doors for guests at the end of 2025 under the Mercure Brasov Centre brand.

About Hyatt Hotels Corporation
Hyatt Hotels Corporation, headquartered in Chicago, is a leading global hospitality company guided by its purpose – to care for people so they can be their best. As of September 30, 2023, the Company’s portfolio included more than 1,300 hotels and all-inclusive properties in 76 countries across six continents. The Company's offering includes brands in the Timeless Collection, including Park Hyatt®, Grand Hyatt®, Hyatt Regency®, Hyatt®, Hyatt Vacation Club®, Hyatt Place®, Hyatt House®, Hyatt Studios, and UrCove; the Boundless Collection, including Miraval®, Alila®,a Andaz®, Thompson Hotels®, Dream® Hotels, Hyatt Centric®, and Caption by Hyatt®; the Independent Collection, including The Unbound Collection by Hyatt®, Destination by Hyatt®, and JdV by Hyatt®; and the Inclusive Collection, including Impression by Secrets, Hyatt Ziva®, Hyatt Zilara®, Zoëtry® Wellness & Spa Resorts, Secrets® Resorts & Spas, Breathless Resorts & Spas®, Dreams® Resorts & Spas, Hyatt Vivid Hotels & Resorts, Alua Hotels & Resorts®, and Sunscape® Resorts & Spas. Subsidiaries of the Company operate the World of Hyatt® loyalty program, ALG Vacations®, Mr & Mrs Smith™, Unlimited Vacation Club®, Amstar DMC destination management services, and Trisept Solutions® technology services. For more information, please visit www.hyatt.com.

Brasov, 15th of February, 2024

The Supervisory Board of Transilvania Investments Alliance S.A. approved on 17.10.2023 the commencement of the recruitment and selection procedure in order to fill the two vacancies in the Supervisory Board, in accordance with the Policies and procedures regarding the assessment of the adequacy of the members of the management structure and the persons holding key positions within Transilvania Investments Alliance S.A.

The candidates for the vacant positions can be proposed by the Transilvania Investments Alliance shareholders and by the current members of the Supervisory Board of Transilvania Investments Alliance.

The application file shall include the documents set forth under Chapter II.1. of Policies and procedures regarding the assessment of the adequacy of the members of the management structure and the persons holding key positions within Transilvania Investments Alliance S.A. - document available on the Company's official website, at Corporate Governance - Internal Policies and Regulations - Internal Regulations section.

Application files for the position of provisional member of the Supervisory Board shall be sent by post (registered letter with declared value) or submitted to the Company’s registration office, no later than November 3, 2023, 4 p.m.

Additional information can be obtained from Mr Călin Dragoș, Head of Legal Department, phone number +4 0728 288 660.

Transilvania Investments Alliance S.A. („Transilvania Investments” or „the Company”) announces the commencement of the payment of the dividends distributed from the net profit of the financial year 2022 through Depozitarul Central S.A. („Depozitarul Central”) and the payment agent - Banca Transilvania („BT” or „the Payment Agent”), starting on 23.06.2023 (“Payment Date”), as follows:
• The dividend payment will be made in compliance with the capital market regulations and the provisions of the Tax Code in force and in accordance with the Resolution of the Ordinary General Meeting of Transilvania Investments Shareholders no. 1 of 24.04.2023;
• The shareholders entitled to receive dividends distributed from the net profit of the financial year 2022 are the shareholders registered in the Transilvania Investments Shareholder Register, kept by Depozitarul Central, as at 31.05.2023 – “Registration Date” (ex-date 30.05.2023);
• The gross dividend is RON 0.014/share, with the tax on dividends to be withhold at the rate provided by the law. The dividend payment will be made in RON (lei);
• According to the provisions of the Tax Code in force, the standard tax rate applicable to dividend income is currently 8% of the gross amount of dividends, the exceptions regarding the non-taxation of the dividend income being provided separately. Also, non-resident shareholders can benefit from a more favourable tax rate, in accordance with the provisions of the Fiscal Code and the Double Taxation Convention concluded between Romania and the state of residence of the respective shareholder, based on the tax residence certificate valid on the date of dividend payment, submitted by the non-resident shareholder until 09.06.2023 at the latest;
• The costs related to the payment of dividends, regardless of the payment method, shall be borne by the shareholders;
• The payment of dividends afferent to the financial year 2022 is subject to the general provisions on the limitation status, being time-barred within 3 (three) years from the date of the commencement of payment. The last day of payment of dividends for the financial year 2022 is 22.06.2026.

The dividend payment methods are the following:
I. Payment into the accounts of the Participants (Custodian Banks/Investment firms)
For shareholders who are natural persons, legal persons or other entities, holding on the registration date shares registered in Section II of Depozitarul Central, in an account opened at a Participant, the dividends shall be paid automatically on the Payment Date (23.06.2023), by bank transfer via Depozitarul Central into the Participants’ accounts, without additional documents being requested.

II. Payment by bank transfer (into accounts in RON opened with a bank in Romania), upon the shareholder’s request addressed directly to Depozitarul Central
For shareholders who are not represented by Participants (shareholders owning shares registered in Section I of Depozitarul Central), Depozitarul Central provides the shareholders with the option to collect into a bank account any amount of money to which they are entitled, regardless of the issuer distributing such amounts. This option requires the registration with Depozitarul Central of the IBAN code which remains valid also for future distributions, until a contrary notice from the shareholder.
The shareholders wishing to use this option have to fill in a specific form, called in Romanian “Formular colectare cod IBAN”, available on the website of Depozitarul Central, at the address https://www.roclear.ro/Detinatori/DetinatoriDistribuireDividende, and to send it by mail or submitt it directly to Depozitarul Central, along with the documents requested, at the headquarters thereof, at the address: Depozitarul Central, 34-36 Carol I Boulevard 020922, Floors 3, 8 and 9, Bucharest, 2nd district, Romania.
The applications for dividend payment by bank transfer shall be sent to Depozitarul Central until 21.06.2023. Depozitarul Central will verify the payment applications and, if they are incomplete, will request their completion by contacting the shareholder at the phone number or the email address mentioned in the documents initially sent.
The natural person shareholders not represented by Participants who do not send applications for dividend payment into a bank account until 21.06.2023 or those whose applications are not complete/completed until the same date will be able to collect their dividends at the Banca Transilvania units, in accordance with the provisions of Chapter III below.
If the natural person and legal person shareholders send applications for dividend payment into a bank account after the Payment date (23.06.2023), Depozitarul Central will made the payment by bank transfer within 3 working days from the blocking date of the cash payment, for natural person shareholders and from the receipt date of the payment application, for legal person shareholders, respectively. The change in the payment method will be charged according to the list of fees levied to the holders of financial instruments and will be borne by each shareholder.
For the shareholders who have already activated this payment option, respectively they have registered the IBAN code with Depozitarul Central, the payment of dividends will be made automatically on the Payment Date, i.e. on 23.06.2023, by bank transfer via Depozitarul Central, without presenting additional documents.

III. Payment by cash/bank transfer through Banca Transilvania units
For natural person shareholders who do not fall under Chapters I and II above, the dividends will be paid by cash/bank transfer at Banca Transilvania cash desks, in any BT unit in Romania, starting on 23.06.2023.

The list of BT units is available on the website https://www.bancatransilvania.ro/bt-help/retea-unitati/. The natural person shareholders can request the dividend payment at any BT unit during the opening hours thereof. Banca Transilvania will make cash payments within the limit for cash payments provided by the legislation in force.
Dividend payment by cash/bank transfer, requested in the BT units, shall only apply to natural person shareholders who are not represented by Participants (i.e. shareholders owning shares registered in Section I of Depozitarul Central) and who have not opted for payment by bank transfer according to Chapter II above, as follows:
1. For resident natural person shareholders presenting themselves in person at the BT cash desk, the dividend payment shall be made based on the identity document bearing the personal identification code (in Romanian-CNP). The shareholder identification shall be performed based on the information found in the CNP field. Should the CNP mentioned in the documents presented at the BT cash desks is different from the one in the records of Depozitarul Central, the shareholders must contact the latter;
2. For non-resident natural person shareholders presenting themselves in person at the BT cash desks, the dividend payment shall be made based on the passport whose series and number must correspond to the ones mentioned in the records of Depozitarul Central. Should the data mentioned in the documents presented at the BT cash desks are different from the ones in the records of Depozitarul Central, the shareholder must contact the latter;
3. For natural person shareholders aged under 14, the dividends shall be paid to the legal representative, i.e. tutor or parent of the minor, based on the following documents: the birth certificate of the shareholder bearing the CNP + a certified copy thereof attesting the conformity with the original (the copy will be kept), the legal document establishing the tutorship if the tutor is not one of the parents + a certified copy thereof attesting the conformity with the original (the copy will be kept) and the identity document of the tutor/parent + a certified copy thereof attesting the conformity with the original (the copy will be kept);
4. For natural person shareholders under curatorship, the dividends shall be paid to the curator of the respective person, based on the following documents: the identity document of the shareholder bearing the CNP, the legal document establishing the curatorship + a certified copy thereof attesting the conformity with the original (the copy will be kept) and the identity document of the curator + a certified copy thereof attesting the conformity with the original (the copy will be kept);
5. For natural person shareholders not presenting themselves in person at the BT cash desk but authorizing another person in this respect, the dividends shall be paid to the authorized representative, based on the following documents: the special power of attorney authenticated by the Notary Public comprising the empowerment to collect dividends (issued not more than three years prior to the payment date, unless the power of attorney has a validity higher than three years and is valid on the payment date) + a certified copy thereof attesting the conformity with the original (the copy will be kept) and the identity document of the authorized representative + a certified copy thereof attesting the conformity with the original (the copy will be kept).
The documents drafted in a foreign language shall be accompanied by the legalized translation into Romanian and, if issued by a foreign authority they shall be apostilled or over legalized, as appropriate.

For payments by bank transfer, requested in the BT units, the shareholders shall fill in the Application Form for dividend payment by bank transfer made available by the Bank and attach an account statement certified by the bank in which the dividend transfer is requested or a document issued by the bank certifying the holder of the account in which the payment is requested. The account holder shall be the shareholder or his authorized representative, as appropriate.
Cash payment of dividends at the BT cash desks shall not apply in the following cases:
- for shareholders whose CNP mentioned in the identity documents differs from the one in the records received by Banca Transilvania from Depozitarul Central. The shareholders will be advised to contact Depozitarul Central;
- for shareholders’ heirs, based on inheritance certificates. The shareholders will be advised to contact Depozitarul Central; the dividends shall only be paid after the registration by Depozitarul Central, on the request of the heirs, of the direct transfer of ownership over the shares as effect of the inheritance. The documents necessary for the direct transfer for the cause of death (inheritances) can be found at https://www.roclear.ro/Detinatori/DetinatoriTransferDrepturi.
For legal person shareholders who are not represented by Participants, the payment of dividends shall be made by bank transfer, in accordance with Chapter II above.

IV. Shares held in joint accounts
In the case of shares held in joint accounts at the Registration date, the dividend payment shall be made as follows:
- in the case of cash payments, the payments shall be made provided that all co-owners are present at the Banca Transilvania unit, in person or through the legal and/or conventional representative, and submit the documents requested for cash payments provided above;
- in the case of payments to co-owners who have account opened at a Participant, the dividends due to each co-owner shall be transferred to the Participant whose clients they are;
- in the case of payments by bank transfer, the dividends due to the co-owners shall be transferred in the account indicated by all the co-owners based on a joint application addressed to Banca Transilvania or Depozitarul Central;
- in the case of co-owners requesting both the registration by Depozitarul Central of the direct transfer of ownership over the shares as effect of the termination of the joint ownership, and the direct payment of dividends to each of the co-owners according to the number of shares inherited by each of them, Depozitarul Central will block the dividend payment, and the Company will calculate the amounts due to each of the former co-owners, and the payment shall be made in accordance with the procedure herein.

V. Clarifications regarding the application of other dividend tax rates

V.1. More favourable tax rates provided for by the Double Taxation Conventions
Non-resident shareholders who wish to benefit from the more favourable provisions of the Double Taxation Convention between Romania and their country of residence shall send to Transilvania Investments headquarters in Brasov, 2 Nicolae Iorga Street, postal code 500057, until 09.06.2023, the following documents:

- Application for the most favourable provisions of the Double Taxation Conventions, in original, accompanied by
- Tax residence certificate for the year in which the payment of dividends is made (2023), within the validity period, in original or in legalized copy, apostilled/over legalized, if applicable, accompanied by an authorized translation into Romanian, in original, and the supporting documents containing the contact details needed for any possible clarifications.
In compliance with the Romanian Tax Code, the tax residence certificate has to include the identification data of the non-resident shareholder, as well as of the authority which issued the tax residence certificate, such as, without being limited to name, address, tax identification code, specification that the shareholder (i.e. the taxpayer) is a tax resident of the country issuing the certificate and the issuing date of the certificate.
The payment of dividends on the Payment date (23.06.2023) by applying the most favourable tax rate is conditioned by the submission of all the complete and accurate documents and the possible clarifications requested by Transilvania Investments until 09.06.2023. The Company shall not be deemed liable for the non-application of the more favourable tax treatment if the documentation and/or the requested clarifications are not submitted until the specified deadline.
In the case of non-resident shareholders who have not submitted a valid tax residence certificate until the deadline mentioned above, the dividends will be taxed at the standard rate provided by the Romanian Tax Code, i.e. 8% of the gross value.
In the case of non-resident shareholders represented by Participants, the latter shall send to Transilvania Investments headquarters, until 09.06.2023, the list of shareholders for whom tax documents are submitted, which must contain the following: full name of the shareholders (if the name recorded in the Shareholders' Register is different from the one specified in the tax documents, the reasons/explanations for these differences shall be presented in a special section), shareholder identification number (NIN) recorded in the Shareholders' Register provided by Depozitarul Central, number of shares held on the Registration date.
The Custodian Banks shall send to Transilvania Investments legalized copies (in original) of the tax residence certificates of their clients (on which they shall sign and mention that they hold the original counterpart) and the authorized translation into Romanian thereof.
Transilvania Investments reserves the right to ask the shareholder/his representative for additional documents following the analysis of the dividend payment application.
The documents drafted in a foreign language shall be accompanied by the legalized translation into Romanian and, if issued by a foreign authority, they shall be apostilled or over legalized, as appropriate.

V.2. Payment of dividends at gross value

In the case of the investment funds/collective investment undertakings without legal personality in Romanian, in order the dividend tax not to be withhold, the Participants or the Management Companies shall send/submit the following documents either (i) in original, to the Company’s headquarters in Brasov, 2 Nicolae Iorga Street, postal code 500057 or (ii) by e-mail with incorporated extended electronic signature (according to Law 455/2001 on electronic signature), to the address: actionari@transilvaniainvestments.ro, so that they are received by the Company until 09.06.2023 at the latest:

- application for the payment of dividends at gross value, signed by the legal representative of the management company which to include:

➢ the identification data of the investment fund, namely: unique identification/registration code, as recorded in the Shareholders Register of Transilvania Investments, held by Depozitarul Central, full name of the investment fund, authorization decision, registration number with the F.S.A. Register and information on the type of investment fund (closed or open);

➢ the affidavit (in original) of the legal representative of the fund management company stating that the investment fund has no legal personality; - copy of the valid identity document of the legal representative of the fund management company; - copy of the ascertaining certificate of the fund management company or an equivalent document (not older than 3 months) certifying the legal representative of the fund management company; - copy of the Regulatory Authority decisions attesting the authorization of the fund management company and of the investment fund.
Additional information on the dividend payment procedure can be obtained from:
- Transilvania Investments Alliance: Corporate Governance Department, tel. 0268-401141, 0268-401142; email: actionari@transilvaniainvestments.ro;
- Depozitarul Central: tel. 021- 4085800, email: dividende@depozitarulcentral.ro.
In the event that the documents mentioned above and any requested clarifications are not submitted by 09.06.2023, Transilvania Investments will withhold for the respective investment funds/collective investment undertakings without legal personality the tax on dividends in the standard rate provided by the Code Fiscal in force.
We state that any clarification from the authorities and/or legislative amendment, subsequent to the date of this communique, regarding the taxation regime of dividends due to investment funds/collective investment undertakings without legal personality in Romania, will be properly implemented by Transilvania Investments and the shareholders will be informed accordingly.

Transilvania Investments applies the provisions of the Regulation (EU) 2016/679 regarding the processing of personal data (GDPR), the Policy on the protection of natural persons with regard to the processing of personal data being available on the Company’s website.
We recall that any changes in the data recorded in the Shareholders' Register (changes in name, address, identification data, transfer of shares to heirs etc.) can only be performed by Depozitarul Central, www.roclear.ro, headquartered in Bucharest, District 2, 34-36 Carol I Boulevard, Floors 3, 8 and 9, tel. 021-4085800, email: contact@depozitarulcentral.ro, upon the request of the shareholder/entitled person.

Radu-Claudiu Roșca
Executive President

Mihaela-Corina Stoica
Compliance Director

This is a free translation of the original document which was drafted in Romanian. In case of discrepancies between the Romanian version and the English version, the Romanian version shall prevail.

A modern complex, able to host almost 2,000 visitors simultaneously, with all the facilities for a perfect day of relaxation, is the offer that the Venus swimming pool in 1 Mai resort (Bihor county) prepares for this summer for the tourists from Romania. Rehabilitation works for the asset owned by Transilvania Investments, as majority shareholder of Turism Felix S.A., the manager of the swimming pool, are in their final stages.

The investment project consisted in the complete rebuilding of the complex which covers a 4.3-hectar area. The company preserved only the existing vegetation, with a completely new concept, structured on the model of a cutting-edge aqua park.
Tourists will find here seven pools for adults and two pools for children, restaurants, relaxation areas and sports facilities. From swimming pools, including a diving platform, to pools with waterslides, aquatic massage or jacuzzi, the complex combines the offer of thermal water specific to the western part of the country, with pools with heated water.

"The Venus Complex comes to supplement the tourist offer for the western part of the country that Transilvania Investments has in its portfolio. If, until now, Băile Felix (Felix Baths) have been the main point of attraction, with the opening of the aqua park in 1 May resort, we wish to offer an alternative at the same level of quality, accessible for all categories of tourists", says Radu Roșca, Executive President of Transilvania Investments.

At this moment, the main infrastructural works - restoration of the water supply system, construction of new pavilions, the heating grid etc. - have been completed and the finishings are being implemented. According to the works schedule, the Venus aqua park will be open to the public in July this year.

Brasov, May 24, 2023

Architectural plans of the aqua park Venus

Transilvania Investments ends 2022 with revenues of RON 91.33 million and a net profit of RON 63.71 million, at the end of a year in which the fund went through important changes, starting with the rebranding of the company and the implementation of new investment strategies. The General Meeting of Shareholders held on Monday in Brasov also approved the distribution in the form of dividends of about 48% of the net profit.

The approval of the distribution of a dividend of RON 0.0140/share represents a 4.9% yield by reference to the average trading price of TRANSI shares on the BVB-REGS market in 2022, the payment date being set for 23 June this year.
Transilvania Investments shareholders also approved the buy-back of 20,000,000 own shares at a maximum price of RON 0.49 /share, representing 0.9248% of the fund's share capital, in order to reducing the share capital (12 million shares) and distributing free shares to the identified staff within a Stock Option Plan (8 million shares).

Over the past year, Transilvania Investments has taken important decisions for the assets in its portfolio, the effects of which will be reflected in the coming years. "Thanks to the efforts of the entire team, we have managed to bring under the same vision the development directions for our tourism assets and find solutions that will allow them to grow. The success we owe to our shareholders lies in our innovative management approach, focused on efficiency", says Radu Roșca, Executive President of Transilvania Investments.

For the year 2023, Transilvania Investments aims to achieve a gross profit of RON 70.75 million on total revenues estimated at RON 112 million, according to the revenue and expenditure budget approved by the shareholders at the meeting held in Brasov. In focus for this year are investments in several key owned companies, such as Aro Palace and Turism Felix, and the implementation of the development strategy for assets in the spa area.

Brasov, 25 April 2023

The investment fund Transilvania Investments announces the completion of the transaction through which the stake held in Turism Felix S.A. increased to 93%. The acquisition of the additional package of shares is part of the fund’s strategy to consolidate its position in the key assets in the portfolio.

The transaction, carried out on March 29, 2023 on the B.S.E. (POFSV market), consisted in the acquisition of 143,752,429 shares issued by Turism Felix S.A., representing 29.2663% of the share capital. The transaction value amounts to RON 44,563,252.99. Following this acquisition, Transilvania Investments’s stake in Turism Felix increased from 63.7654% of the share capital, to 93.0317%.

"We confirm our confidence in the potential of this company which has proven in recent years resilience and desire for development, a fresh vision and appetite for new investments. This transaction allows us to take to a new level the strategy we have developed for all the assets that the fund holds in the hospitality sector, assuring our shareholders that we are acting to maximize the returns achieved." says Radu Roșca, executive president of Transilvania Investments.

Turism Felix operates five hotels in the Băile Felix resort, namely Hotel International 4*, Hotel Termal 3*, Hotel Nufarul 3*, Hotel Poienita 3* and Hotel Mures 2*, as well as the Apollo-Felix swimming pool. Lotus Therm Spa & Luxury Resort 5*, designated in 2022 as the best aquapark in Romania, is also part of the Turism Felix and Transilvania Investments portfolios.

The largest investment in recent years, namely the modernization of the Venus swimming pool in the Băile 1 Mai resort, is scheduled to be completed in July this year, the budget allocated for its renovation amounting to over RON 40 million.

Brașov, March 30, 2023

Transilvania Investments is celebrating one year since the trading on the BSE under the new TRANSI symbol, and at the same time one year since the commencement of the rebranding process.

During this year, marked by many challenges, we carried on the implementation of our investment strategy consisting in maximizing the potential offered by our main business lines, i.e. travel & leisure, real estate, industry, active trading and venture capital/private equity.

We are inspired by progressive values, with the view of implementing a modern vision of the company’s evolution, in the context of the new positioning on the capital market. We aim to improve the investment performance and efficiency and to meet investors' expectations.

We would like to thank the whole team, the investors and all the organizations and partners for having been at our side and for their effective collaboration!

Bucharest, 28th of March 2023

The companies that will manage the 7 seaside hotels, prepared for rental by THR Marea Neagră - a company whose majority shareholder is the investment fund Transilvania Investments - will be selected following the public tenders to be organized between 1st and 3rd of March this year.

With almost 300 4-star rooms, the Cleopatra Complex in Saturn is the largest of the assets offered for rent, with 23,000 sqm including an outdoor swimming pool, restaurant and green spaces.The Narcis Complex, located nearby, has 320 rooms. Both hotels have access to their own beaches. The two hotels are offered for rent in a package that allows the development of a complete business.

Vraja Mării was the hotel with the highest occupancy rate in the THR's portfolio last year. Its location in Eforie Nord is preferred by tourists for its beachfront location and intimate atmosphere, typical of a small hotel. For entrepreneurs interested in larger assets, the Semiramis and Tosca hotels in Saturn, each with over 300 rooms, are options for long-term business development.

Lease tenders are also scheduled for the Balada and Cerna hotels in Saturn, along with other hospitality assets. Full details of participation are published on https://thrmareaneagra.ro/licitatii/

The full program of THR Black Sea public tenders for lease:

Restaurant Prahova in Saturn - 1st of March 2023, 08:30 a.m.
Balada Hotel Complex in Saturn - 1st of March 2023, 10:00 a.m.
Cleopatra and Narcis Hotel Complex in Saturn - 1st March 2023, 12:00 noon
Hotel complex Cerna in Saturn - 1st March 2023, 14:00 a.m.

Băi reci in Eforie Sud - 2nd of March 2023, 10:00 a.m.
Tosca Hotel Complex in Saturn - 2nd March 2023, 12:00 noon
Semiramis Hotel Complex in Saturn - 2nd March 2023, 13:00
Hora Kindergarten - 2nd March 2023, 15:00

Narcis Buffet - 3rd of March 2023, 10:00 a.m.
Vraja Mării Hotel Complex in Eforie Nord - 3rd March 2023, 12:00 noon

Brasov, 22th of February 2023