Tatry Mountain Resorts A.S.

Capital/Financing Update • Dec 1, 2020

Current Report – TMR plans to issue new bonds

Tatry mountain resorts, a.s. with its headquarters in Demänovská Dolina 72, 031 01 Liptovský Mikuláš, the Slovak Republic, ID No.: 31 560 636, registered in the Business Register by the District Court of Žilina, Section: Sa, File No. 62/L (the "Company") as an issuer of securities admitted to trading at a listed market and a free market, hereunder announces the following current report:

• On November 30, 2020 the Company's Supervisory Board approved a proposal by the Board of Directors on the issuance of new unsecured subordinated bonds (the "Bonds").
• The reason for issuing the Bonds is to raise funds in order to repay the outstanding interest and the total nominal value of the bonds entitled "TMR II 6.00%/2021", ISIN: SK4120009614, that mature on February 5, 2021 (i.e. to refinance the Company's outstanding liabilities) and to finance the Company's day-to-day business operations.
• The Bonds issue in the expected total nominal value of up to EUR 110,000,000, with a face value of one bond of EUR 1,000 and max. interest rate of 6.0% p. a., maturing in 2026, will be issued in accordance with Slovak law and will be publicly offered in the Slovak Republic and the Czech Republic.
• J&T BANKA, a.s., with its seat at Sokolovská 700/113a, 186 00 Prague 8, IČO: 47115378, registered in the Business Register by the Municipal Court in Prague, Section: B, File No.: 1731, has a mandate to sell the Bonds.
• The estimated issue date of the Bonds is February 2021.
• The Bonds' prospectus is subject to approval by the National Bank of Slovakia
• Once the Bonds are issued, the Company will apply for their admission to trading on the regulated free market of the Bratislava Stock Exchange, a.s.

Ing. Jozef Hodek CFO and Member of the Board of Directors

Liptovský Mikuláš 01/12/2020

Tatry mountain resorts, a.s.