Resolution of the Management Board concerning public bond issue programme

The Management Board of Echo Investment S.A. ("the Company") hereby reports the Company"s intention to establish a public bond issue programme and passing a resolution on February 14th, 2018 regarding the establishment of a public bond issue programme of up to PLN 400,000,000 or its equivalent in euro The bonds will be offered in a public offer after the approval of the basic prospectus by the Financial Supervision Authority. Detailed conditions of the bond issue will be established before the issue of a given bond series. The company is planning to introduce the bonds issued on the basis of the prospectus on the Catalyst regulated market operated by Warsaw Stock Exchange. Legal basis: Art 17 section 1 MAR – confidential information