Conclusion of significant agreement. Acquisition of new shares in share capital of Issuer’s subsidiary

The Management Board of Echo Investment S.A. (hereinafter referred to as the "Issuer" or the "Company") hereby reports that on the 22nd of February 2016 the Issuer received contracts (the "Contracts") on the transfer of ownership of investment certificates to a subsidiary of the Issuer, Prime Properties B.V., (besloten vennootschap met beperkte aansprakelijkheid), which operates in accordance with the Dutch law, has its registered office in Amsterdam, the Netherlands (juridical address: Prins Bernhardplein 200, 1097 JB Amsterdam,  the Netherlands) and is entered in the commercial register under the number: 64965945 (hereinafter referred to as "ECHO BV"). The contracts were signed on the 17th of February 2016 and they were delivered by a proxy. The investment certificates were held by the Funds: i) Forum XXIX Fundusz Inwestycyjny Zamknięty with its registered office in Kraków, entered in the register of investment certificates operated by the District Court in Warsaw, the 7th Civil Registry Department, under the Rfi number 536 i.e. 20 investment A-series certificates, 599 D-series certificates and 931 E-series certificates i.e. a total of 1,510 investment certificates and;
ii) Forum XXXIV Fundusz Inwestycyjny Zamknięty with its registered office in Kraków, entered in the register of investment certificates operated by the District Court in Warsaw, the 7th Civil Registry Department, under the Rfi number 586 i.e. 20 investment A-series certificates, 3,409 C-series certificates and 3,594 D-series certificates i.e. a total of 7,023 investment certificates of the Fund (hereinafter referred to as "Certificates"). Parties to the Contracts decided that the Issuer acquires 211,970,402 shares in the share capital of ECHO BV, issued by ECHO BV with a nominal value of EUR 1 each i.e. a total nominal value of EUR 211,970,402, which constituted an equivalent of PLN 933,560,044 on the day of contract signing in accordance with the average exchange rate of the National Bank of Poland, in exchange for the non-cash contribution in the form of the aforementioned Certificates.
Ownership of the Certificates and all the rights resulting from the Certificates were transferred to ECHO BV on the 19th of February 2016 i.e. on the day appropriate entries were made in the registers of the funds" participants, indicating Echo BV as the buyer of the Certificates.
The book value of the Certificates in Issuer"s books amounts to PLN 929,490,941. As a result of the aforementioned events the Issuer will hold a total of 211,990,402 shares in Echo BV, which will have the nominal value of EUR 1 each and a total nominal value of EUR 211,990,402. The shares held by the Issuer constitute 100% in the share capital of ECHO BV and they carry 100% votes at the meeting of shareholders. The Contracts were considered significant because their value exceeds 10% of the Company"s equity. Legal basis: §5  (1.3) of the Regulation of the Minister of Finance of the 19th  of February 2009 concerning current and periodical information published by issuers of securities and terms of recognizing as equivalent information required by laws of a non-Member State(Journal of Laws of 2014, item 133).