To:      BUCHAREST STOCK EXCHANGE

            FINANCIAL SUPERVISORY AUTHORITY

IMPACT DEVELOPER & CONTRACTOR SA – IMP

CURRENT REPORT

According to FSA’s Regulation No. 5/2018 on issuers of financial instruments and market operations and Law No. 24/2017 on issuers of financial instruments and market operations

Important events to be reported:

Initiation by the Company of the share buy-back program approved by the EXTRAORDINARY GENERAL ASSEMBLY OF SHAREHOLDERS OF “IMPACT DEVELOPER & CONTRACTOR” S.A. by RESOLUTION NO. 1 of 28.04.2020.

The Company wishes to inform its shareholders and investors that, the initiation, starting with 13.07.2020, of the share buy-back program of the Company was decided, in accordance with Resolution No. 1 of 28 April 2020 of the extraordinary general assembly of shareholders (the “EGAS Resolution”) – the Program.

The Program shall be performed and implemented in accordance with the rules and regulations applicable in the field of buy-back programs, established by Regulation (EU) No. 596/2014 of the European Parliament and of the Council on market abuse and Commission Delegated Regulation (EU) 2016/1052.

Maximum Size of the Program

IMPACT DEVELOPER & CONTRACTOR will buy back maximum 10,000,000 shares, representing maximum 3.64% of the subscribed and paid-in share capital on the date of the resolution.

Purpose of the Program

Partly for allocation to employees and/or administrators and/or managers of the Company, and partly for canceling them and reducing accordingly the share capital of the Company.

Purchase price of shares within the Program

The purchase price of the shares within the Program shall be: (a) minimum price of RON 0.5 per share and a maximum price equal to the lowest value of (a) RON 2.5 per share and (b) the highest value between the price of the last independent transaction and the highest current independent purchase bid, in accordance with the provisions of Article 3 Paragraph (2) of Commission Delegated Regulation (EU) No. 2016/1052 of 8 March 2016 supplementing Regulation (EU) 596/2014 of the European Parliament and of the Council with regard to regulatory technical standards for the conditions applicable to buy-back programs and stabilization measures.

The maximum pecuniary value allocated to the Program

The maximum pecuniary value allocated to the Program is up to RON 25,000,000.

Term of the Program

The period for which the authorization for the Program was granted is maximum 18 months from the publication date of the EGAS Resolution of 28 April 2020 in the Official Gazette of Romania.

Name of the agent

The Program shall be performed through SSIF SWISS CAPITAL S.A., which shall provide agency services for the Program.

The volume of shares that the Company may be able to buy back on a daily basis

IMPACT DEVELOPER & CONTRACTOR may not be able to purchase on a trading day more than 25% of the daily average volume of shares of IMPACT DEVELOPER & CONTRACTOR traded on the BSE regulated market, calculated according to those mentioned below.

The volume of shares that the Company may be able to buy back is determined in accordance with the provisions of Art. 3 (a) of Commission Delegated Regulation (EU) No. 2016/1052, respectively the average daily volume is calculated based on the average daily volume traded in the month preceding the month of the Program’s public disclosure.

Consequently, the fixed volume obtained based on the average daily volume traded in June 2020 is maximum 44,482 shares. The maximum acquisition volume for a trading day shall be maintained throughout the entire term of the Program.

IMPACT DEVELOPER & CONTRACTOR S.A.

Chief Executive Officer,

Sorin Apostol