Echo Investment S.A.

M&A Activity • Jul 9, 2018

Information on European Commission mergerclearance decision issued pursuant to Council Regulation 139/2004approving unconditionally conclusion by Echo Investment of the jointventure agreement with R4R S.à r.l..

In relation to the current reports nos. 18/2018 and19/2018 of May 21, 2018, the Management Board of Echo Investment S.A.(the "Company") hereby informs that according to theinformation published on the website of European Commission, on July 6,2018 the merger clearance decision approving unconditionally conclusionby the Company of the joint venture agreement with R4R S.à r.l.Thedecision has not yet been published and received by the Company.

The issuance by the European Commission of thedecision approving unconditionally conclusion by Echo Investment of thejoint venture agreement with R4R S.à r.l. was a condition precedent toestablishment of the joint venture. Following the receipt of thedecision by the Company, the Company will proceed with the finalizationof the transaction documentation with R4R S.à r.l..

Legal basis: Article 17 sec. 1 of MAR - insideinformation.