Echo Investment S.A.

Capital/Financing Update • Jul 22, 2020

CreditFacility Agreement of the Issuer's Subsidiary

The ManagementBoard of Echo Investment S.A. (hereinafter: the "Issuer") reports thaton 22 July 2020 a subsidiary of the Issuer,MIDPOINT 71- CORNWALL INVESTMENTS spółka z ograniczoną odpowiedzialnością - s.k.a.,with its registered office in Kielce (KRS0000482787)(hereinafter: the "Company") entered withPOWSZECHNA KASAOSZCZĘDNOŚCI BANK POLSKI S.A., with its registered officein Warsaw (KRS 0000026438)  (hereinafter: the "Bank" )into a creditfacility agreement to finance the Midpoint 71 office project in Wrocław(hereinafter: the "Credit Facility Agreement").

Funds receivedunder the Facility Agreement are as follows:

Amount ofConstruction Credit Facility: EUR 54,400,000

Amount ofInvestment Credit Facility: EUR 54,400,000

Amount of VATCredit Facility: PLN 7,000,000

Financing period:

ConstructionCredit Facility: until 30 June 2023

Investment CreditFacility: until 30 June 2026

The InvestmentCredit Facility and the Construction Credit Facility bear interest at avariable interest rate (EURIBOR), increased by the Bank's margin.  TheVAT Credit Facility bears interest at a variable interest rate (WIBOR),increased by the Bank's margin.

The agreementprovides for the requirement to meet standard conditions precedent tothe disbursement of the above-described credit facilities applicable tosuch transactions, including the provision of security instruments andthe obligation to fulfill, after the drawdown of the above-mentionedcredit facilities, conditions subsequent which are also typical fortransactions of this kind.

Legal basis:Article 17, sec. 1 of MAR - Confidential Information.