Tatry Mountain Resorts A.S.

Earnings Release • Apr 28, 2017

April 27, 2017

Key 2016/17 Winter 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:

On April 27, 2017 TMR released key season-to-date metrics for the winter season 2016/17 – for the period from the beginning of the winter season in November 2016 till April 23, 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; and Szczyrkowski ošrodek narciarski (SON) in Poland; from leisure parks Aquapark Tatralandia; and the hotels of TMR's portfolio in Slovakia. The evaluation does not include Silesian Amusement Park, which was closed during the winter season.

Highlights:

• Total sales for the winter season improved year-over-year by +9.4%
• The visit rate in Mountain Resorts, measured by the number of skier days, grew for the comparable period by +13.2%
• In Leisure Parks the number of visitors for the given period increased year-over-year by +2.3%
• Hotels' occupancy improved in weighted average by +3.3 percentage points and average daily rate jumped up by +10.4%
• Ski pass sales for the given period were up by +8.6%
• Sales from Leisure Parks maintained the level of the prior season (+0.3%)
• Hotels' sales increased year-over-year by +13.2%
• Sales from Dining were up +11.4% and from Sports Services & Stores also +11.4%

Bohuš Hlavatý, TMR's CEO, commented on the season's interim results: "Compared to prior periods the weather was favorable to us this season; snow conditions were great, which got reflected in the growth of our resorts' visit rate. The key drivers included the unique product Smart Season Pass on the Slovak market. The results clearly prove that clients registered in our loyalty program are much more satisfied with the products offered and with the affordable customized services. With these value offers tailored to their needs we are able to provide higher quality services at attractive rates. Therefore, in the next period we want to intensify our clients' motivation to register in the GOPASS loyalty program. We evaluate our cooperation positively with all the lodging operators that utilized our service providing 'ski passes on the pillow', as well as the cooperation with District tourism organizations. We believe that this successful setup is a good base for the upcoming summer tourist season."

Key metrics of the winter season
2016/17	Change yoy %
	23/04/2017 vs
(November 1, 2016 - April 23, 2017)	23/04/2016
Skier days	+13,2%
Visit rate in Leisure Parks	+2,3%
Occupancy in Hotels	+3,3%
Average rate in Hotels	+10,4%
Sales in Mountain Resorts	+8,6%
Sales in Leisure Parks	+0,3%
Sales in Dining	+11,4%
Sales in Sports Services & Stores	+11,4%
Sales in Hotels	+13,2%
Total Sales	+9,4%

Ing. Jozef Hodek Member of the Board of Directors