Echo Investment S.A.

Regulatory Filings • Feb 20, 2020

Statements received from the Supervisory Boardmembers of Echo Investment S.A. concerning participation in thesupervisory boards of other entities

The Management Board of Echo Investment S.A. with itsregistered office in Kielce (the "Company"), hereby informsthat on February 18, 2020 it was notified by members of the Company'sSupervisory Board Mr. Maciej Dyjas and Mr. Nebil Senman of theirappointment as supervisory board members of Murapol S.A. and MurapolReal Estate S.A. (the "Murapol Group").

At the request of the Company's Management Board, onFebruary 19, 2020, the Company's Management Board received additionalsupplementary statements, according to which Mr. Maciej Dyjas and Mr.Nebil Senman do not perceive their activities in the Supervisory Boardsof the Murapol Group as conflicting with serving at the SupervisoryBoard of the Company. Furthermore, according to the statements, in theopinion of Mr. Maciej Dyjas and Mr. Nebil Senman, given that the MurapolGroup and the Company operate in similar segments of the residentialmarket, they cannot exclude that from time to time a situation ofconflict of interest may appear or be likely to appear. According to thestatements, Mr. Maciej Dyjas and Mr. Nebil Senman will act in all suchcases in accordance with the provisions of the Best Practices announcedfor the listed companies by the Warsaw Stock Exchange, which means thatthey will immediately inform thereof the Company's Supervisory Board andwill abstain from voting on the issues which may cause conflict ofinterest.

This report was issued pursuant to: Article 17,section 1 of the MAR - confidential information.