Echo Investment S.A.

Capital/Financing Update • Aug 26, 2021

Resolution of the Management Board on theestablishment of a public bond issue program

The Management Board of Echo Investment S.A. (the "Company")informs about the Company's intention to establish a public program forthe issuance of unsecured bonds and adoption on 26 August 2021 of theCompany's Management Board resolution on the establishment of a publicprogram for the issuance of up to PLN 300,000,000 or its equivalent ineuro (the "Program"). The bonds will be offered in apublic offering conducted after the approval of the base prospectus bythe Polish Financial Supervision Authority. Detailed terms andconditions of the issue of bonds shall be set out prior to the issue ofa given series of bonds. The Company plans to introduce the bonds issuedunder the prospectus to trading on the regulated market Catalystoperated by the Warsaw Stock Exchange.

The function of the Offering Agent and the GlobalCoordinator in connection with the Program will be performed byPowszechna Kasa Oszczędności Bank Polski S.A. Branch - Brokerage Officein Warsaw.