Notification of change in total number of votes at Issuer’s General Meeting of Shareholders

The Management Board of Echo Investment S.A. (hereinafter referred to as the "Issuer" or the "Company") hereby reports that on the 17th of November 2015 the Issuer received a notification from Echo Partners B.V. with its registered office in Amsterdam (hereinafter referred to as "Echo Partners") dated the 22nd of October 2015 and prepared pursuant to art. 69a (1.3) in connection with art. 69 (2.2) of the act of the 29th of July 2005 on public offering and conditions governing the introduction of financial instruments to organised trading and public companies, regarding an indirect increase of the total number of votes in Echo Investment S.A. and an indirect purchase of additional 15,793,434 shares in the Company"s share capital, which constitute 3.8269% of the total number of shares in the Company and 3.8269% of the total number of votes in the Company, on the basis of which Lisala sp. z o.o. with its registered office in Warsaw, a 100% subsidiary of Echo Partners (hereinafter referred to as "Lisala") is entitled to execute its voting rights. The increase of the total number of votes took place as a consequence of a block transaction on the 22nd of October 2015 (hereinafter referred to as the "Transaction") involving Lisala. As a result of the Transaction Echo Partner indirectly holds 272,375,784 shares in the Company"s share capital, which constitute 65.99% of the total number of shares in the Company"s share capital and 65.99% of the total number votes in the Company.
Before the Transaction Echo Partners indirectly held 256,582,350 shares in the Company"s share capital, constituting 62.17% of the total number of votes in the Company"s share capital and 62.17% of the total number of votes in the Company Echo Partners is not planning to increase its share in the total number of votes in the Company over the period of 12 months from this notification.
The only subsidiary of Echo Partners is Lisala which directly holds 272,375,784 shares in the Company"s share capital, constituting 65.99% of the total number of shares in the Company"s share capital and 65.99% of the total number of votes in the Company. There are no persons specified in art. 87 section 1 item 3c of the Public Quotations Act in Echo Partners. Legal basis: Article 70 (1) of the Act on Public Quotations and Conditions of Introducing Financial Instruments to Organized Trade and on Public Companies of the 29th of July 2005 (Journal of Laws No. 185 item 1439).