Aerostar S A : Quarterly Report as on 31 march 2023 (posted on Aerostar website on 05.05.2023, hours 08.00 AM)

BOARD OF DIRECTORS' REPORT

FIRST QUARTER

AEROSTAR S.A.

www.aerostar.ro

AEROSTAR S.A.

Aerostar S.A. was successively named URA-1953, IRAv (abbr. for Întreprinderea de Reparaţii Avioane)- 1970, IAv (abbr. for Întreprinderea de

Avioane)- 1978, and under the current name,

AEROSTAR S.A. has been operating since 1991, when it was registered as a joint-stock company, fully state-owned, at the Trade Register Office in Bacău.

I IDENTIFICATION DATA AND FIELD OF ACTIVITY

Telephone/fax number:

004-0234575070/004-0234 572023

Website/e-mail address

www.aerostar.ro

aerostar@aerostar.ro

The unique identification code of the company

at European level (EUID) is

ROONRC.J04/1137/1991, and the identification code as a legal identity (LEI) as a legal entity is 315700G9KRN3B7XDBB73;

Subscribed and paid-up chare capital:

48.728.784 RON;

The main field of activity of the company is production. The main object of activity of the

company is "Manufacture of aircraft and

spaceships" - code CAEN 3030.

Trade Registration Number:

J04/1137/1991

Unique Registration Code: RO 950531

Listed on the Bucharest Stock Exchange, ARS

Reporting period:

First quarter, 1 January - 31 March 2023

The company financial statements

prepared for the first quarter of 2023 are

not accompanied by the statutory financial

auditor's report. They were audited by the

company's internal auditor;

Applicable accounting standards: The company financial statements are prepared in accordance with the provisions of the International Financial Reporting Standards (IFRS) adopted by the European Union, the Law of accountability no. 82/1991,

republished, with the subsequent modifications and completions and they are presented in accordance with the IAS

requirements;

AEROSTAR S.A. is listed on the Bucharest Stock Exchange under the code ARS, registered with the following data: unique registration code 950531, ISIN code ROAEROACNOR5, the issued shares being

all in the Standard category. The record of

the shares and shareholders is kept by S.C.

Depozitarul Central S.A. Bucharest, as

provided by law.

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Events during the period January - March 2023

AEROSTAR S.A.

The following main events took place

between 1 January and 31 March:

24 February 2023

AEROSTAR presented the preliminary

financial results of the year 2022 in accordance

with the applicable legal regulations;

15 March 2021

AEROSTAR published the current Report for

the convocation of the Ordinary General Meeting of Shareholders for 20 April 2023;

The Notice of Convocation, the agenda, the

draft resolutions, the materials submitted for

OGMS approval as well as the forms requested by AEROSTAR were posted on the company website www.aerostar.ro in the Section Investor Relations.

First Quarter

Extension of the scope of approval granted by the National Military Aviation Authority of the Military Design Organisation for major modifications and repairs as set out in the Annex to the Certificate of Approval.

Accreditation of the Aerostar Metrology Laboratory - granted by the RENAR Accreditation Association - for the calibrations set out in the Annex to the Certificate of Accreditation.

24 March 2023

The annual negotiations between the AEROSTAR S.A. Management and the

Employees' Committee for a new Addendum to the Collective Labour Agreement for the period: 01.04.2023 - 31.03.2024 have been completed.

As of 1 April, benefits packages and salary

raises of 15% have been established for the

company's employees.

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AEROSTAR S.A.

Aerostar is Romania's leading aerospace and defence company and supplier in the global supply chains for the major players in the world of aviation.

Events after the reporting date

20 April 2023

During the Ordinary General Meeting,

AEROSTAR's shareholders approved the

following:

• The Board of Directors' report and the financial statements for the year 2022
• The Financial Auditor's Report on the Audit of the Financial Statements
• The discharge of the members of the Board of Directors and Executive Management
• The distribution of the net result of the financial year 2022 (profit), i.e. the amount of 90.272.999,12 lei as follows:

• (Executive and non-executive) Directors'
  Remuneration Report) for the year 2022;

17 April 2023

AEROSTAR S.A.

celebrates 70 years of

continuous activity.

• The payment date of the dividends for the financial year 2022 is 31 May 2023. the gross dividend per share is 0,18 lei.

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