Summary of H-series bond offer

The Management Board of Echo Investment S.A. ("the Company") reports the results of its H-series bond offer ("the Bonds") issued as part of its public bond issue programme covered by a basic issue prospectus approved by the Financial Supervision Authority on April 16th, 2018 ("the Prospectus") including possible annexes and updates to the Prospectus as well as Final Terms of H-Series Bonds: 1) Subscription period 25-30 April 2018 2) Date of allocation of securities: 2 May 2017 3) Number of securities covered by the subscription: 500,000 4) Average reduction rate: 17.84% (for subscriptions made from 27 to 30 April 2018) 5) Number of Bonds subscribed for as part of the subscription: 520,685 6) Number of Bonds allocated: 500,000 7) Price at which the Bonds were acquired: from PLN 100.00 to PLN 100.06 subject to the date of subscription 8) Number of Investors who have subscribed for the Bonds: 322 9) Number of Investors to whom the Bonds were allocated: 322 10) Name of underwriters: the Company did not enter into sub-issue agreements in connection with the offer of the Bonds 11) The value of the subscription, understood as the product of the Bonds and the issue price PLN 50,004,302.00 12) Method of payment of the acquired bonds: the bonds were paid for in cash. Due to the lack of the final settlement of issue costs until the date of publication of this report, the Company will prepare and publish a current report containing information on the issue costs upon the receipt and acceptance of all invoices from the entities involved in the preparation and execution of the offer. Legal basis: § 16 section 1 of the Regulation of the Minister of Finance  of March 29th, 2018 concerning current and periodical information published by issuers of securities and terms of recognizing as equivalent the information required by laws of a non-Member State (Journal of Laws of 2018, item 757).