Tatry Mountain Resorts A.S.

Board/Management Information • Apr 30, 2020

Departure of CEO, personal changes in Corporate Governance

Tatry mountain resorts, a.s. with its headquarters in Demänovská Dolina 72, 031 01 Liptovský Mikuláš, the Slovak Republic IČO: 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:

Ing. Bohuš Hlavatý concludes his role of the Company's Chairman of the Board of Directors and CEO, effective as of April 29, 2020. The reason is a standard generational change, which the Board of Directors has started thinking about earlier, but the crisis around COVID-19 and the subsequent economic consequences have accelerated this decision. Mr. Hlavatý will remain in the Company, since on April 29, 2020 the General Meeting elected him a member of the Supervisory Board of TMR, which subsequently elected him Chairman of the Supervisory Board.

The position of TMR's CEO will remain vacant until the end of the financial year 2020 due to austerity measures, and the Company's management will be taken over by Igor Rattaj, Chairman of the Board of Directors, elected by the Supervisory Board on April 30, 2020. He will be joined on the Board of Directors by the current CCO, Čeněk Jílek and Jozef Hodek, currently a member of the Board of Directors and also CFO. Both will take over the management of individual organizational structures of the Company. Andrej Devečka and Branislav Gábriš are leaving as members of the Board of Directors as of April 28, 2020, and Mr. Devečka is also joining TMR's Supervisory Board.

Igor Rattaj is leaving the position of Chairman of the Supervisory Board of TMR as of April 29, 2020, which he has held since 2009. He has extensive experience in finance. He served as a member of the Board of Directors of 1. Garantovaná, a.s. In addition, he has served and continues to serve as a member of supervisory boards, chairman or member of the boards of directors and managing director of several companies. He worked as Director of Securities Trading at J&T Securities. Prior to that, he held the position of Vice Chairman of the Board of Directors and Director of Private Banking at Podnikateľská banka in Prague. He is the main shareholder of TMR.

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

Liptovský Mikuláš 30/04/2020

Tatry mountain resorts, a.s.