Tatry Mountain Resorts A.S.

Earnings Release • Sep 25, 2017

September 25, 2017

Key 2017 Summer Season Metrics

The Board of Directors of 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, pursuant to Article 45 of the Slovak Act No. 429/2002 Coll. on Securities Stock Exchange, as amended, hereunder reports the following inside information:

DEMÄNOVSKÁ DOLINA (September 25, 2017) – Tatry mountain resorts, a.s. (TMR) released key season metrics for the 2017 summer in TMR resorts.

TMR released key season-to-date metrics for the summer season 2017 – for the period from the beginning of the summer season in June 2017 till September 3, 2017 – compared to the prior year season-to-date period. The comparison includes mountain resorts - Jasná Nízke Tatry; Vysoké Tatry – Tatranská Lomnica, Starý Smokovec, and Štrbské Pleso; from leisure parks Aquapark Tatralandia and Legendia – Silesian Amusement Park in Poland; and the hotels of TMR's portfolio in Slovakia. The evaluation does not include Szczyrkowski ošrodek narciarski (Szczyrk) in Poland, which was closed during the summer season.

Highlights:

• Total sales for the summer season improved year-over-year by +13.7%
• The visit rate in Mountain Resorts maintained the level of prior year (-0.4%)
• In Leisure Parks the number of visitors for the given period increased year-over-year by +11.1%
• Hotels' occupancy decreased in weighted average by -4.1 percentage points and average daily rate jumped up by +8.6%
• Sales of cableway tickets for the given period were up by +0.5%
• Sales from Leisure Parks improved year-over-year by +18.1%
• Hotels' sales increased year-over-year by +21.1%
• Sales from Dining were up +17.4% and from Sports Services & Stores also +23.7%

Bohuš Hlavatý, TMR's CEO, commented on the season's interim results: "Despite the news of boosted travel of Slovaks, Czechs, and the Polish to seaside thanks to better security in traditional seaside resorts, we were able to keep the visit rate in our resorts at the level of prior year, which was recordbreaking in the number of visitors. Demand for summer stays was more tentative at the beginning of

the summer than before the summer of 2016. Grandhotel Praha in the High Tatras offered the highlight of the summer; it provided comfort for its clients in new renovated rooms. In the Low Tatras we added the new Hotel Pošta, and we observed a higher demand for the chalets real estate project. The summer season in the Polish leisure park Legendia was kicked off with the launch of the biggest roller coaster (Lech Coaster), which got popular especially among young visitors. The customer program GOPASS passed the level of 500 thousand members in the summer. We believe that we will continue this positive trend in the loyalty program also in the upcoming winter season."

In terms of weather conditions, the summer was rather volatile; periods of tropical heat were often followed by sharp cold waves accompanied with rain, which had a great impact on the visit rate of both mountain resorts and leisure parks in the summer season. 95% of the Mountain Resorts' visitors in the summer as usual came from Slovakia, Czechia, and Poland. The share of Slovak clients in Mountain Resorts increased 2 percentage points since the last summer; the share of the Polish did not change, although the share of Czechs dropped 3 percentage points as opposed to prior year. The Czech clients had a record-breaking increase last year, thus this year's drop was natural and expected; it can be explained by improved safety in traditional seaside resorts.

In Aquapark Tatralandia Slovak clientele dominated yet again; it increased year-over-year 1.3 percentage points. Legendia was almost exclusively visited by Polish clients.

In the TMR's hotel portfolio Slovak clients made up 41%. The number of hotel guests from Poland and Israel continued to grow; by 2% respectively. We observed a significant change in the structure of guests in the aquapark's hotel, where we recorded a drop in clients from the Czech Republic due to their return to seaside destinations. Despite this decrease, we still can say that the Tatras and the Liptov region are popular and sought-after destinations for Czech clients.

Key metrics of the summer season
2017	Change yoy %
June 16, 2017 - September 3, 2017)	03/09/2017 vs 03/09/16
Visit rate in Mountain Resorts	-0,4%
Visit rate in Leisure Parks	+11,1%
Occupancy in Hotels	-4,1%
Average rate in Hotels	+8,6%
Sales in Mountain Resorts	+0,5%
Sales in Leisure Parks	+18,1%
Sales in Dining	+17,4%
Sales in Sports Services & Stores	+23,7%
Sales in Hotels	+21,1%
Total Sales	+13,7%

Ing. Jozef Hodek Member of the Board of Directors

Tatry mountain resorts, a.s., Demänovská Dolina 72, 031 01 Liptovský Mikuláš Právnická osoba zapísaná v Obchodnom registri OS Žilina, oddiel: Sa, vložka č.: 62/L Tel: +421/44/5591505, 5591606, Fax: +421/44/5591511, e-mail : sekretariat@jasna.sk http://www.jasna.sk , IČO : 31 560 636, DIČ:2020428036, IČ DPH SK2020428036