Tatry Mountain Resorts A.S.

Regulatory Filings • Feb 20, 2017

February 17, 2017

INSIDE INFORMATION: TMR plans to invest over 60 million EUR in Polish Szczyrk by the end of 2019

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:

The Tatry mountain resorts, a.s. company (TMR) is going to invest over 60 million EUR in the mountain resort of Szczyrkowski Ośrodek Narciarski (SON) in two phases. Until the beginning of the winter season of 2019/20, the company intends to modernize the skiing infrastructure and create 200 jobs in the primary sector and 500 jobs in the secondary sector.

The first investment phase begins in spring 2017. During the first period of the investment plans that ends in the winter season of 2017/18, TMR plans to invest 30 million EUR. Innovations include a 10-person cable car in the locality of Parking u Kowalskiego – Hala Skrzyczeńska, a 6 seater chairlift in the locality of Solisko – Hala Skrzyczeńska, a 6-seater chairlift in the locality of Solisko – Wierch Pośredni and a blue ski piste that should connect both ski resorts of SON and COS (Szczyrk – Skrzyczne). The project includes a new snow making system and a retention pond for water. During the second investment phase, 30 million EUR shall be invested in a 6-seater chairlift in the locality of Hala Skrzyczeńska – Małe Skrzyczne, a 6-seater chairlift in the locality of Czyrna – Hala Skrzyczeńska and an 8-person cable car in the locality of Hala Pośrednia – Wierch Pośredni.

Once finished with the planned investments, TMR will have 22 km of ski pistes in the resort of SON, 81% of which shall be covered with snowmaking. Along with the neighboring resort of COS, Szczyrk will offer 40 km of ski pistes of various difficulty levels. The transport capacity in SON will increase to 18,200 people per hour. The project includes 1,500 parking places as well. All these investments shall help keep the resort busy all year round. TMR expects to create around 200 new jobs in the ski resort of SON in future years, another 500 jobs on the level of subcontractors and several thousands of jobs in the whole region.

TMR estimates the investments in the infrastructure and modernization of SON during the first phase (until the beginning of the season of 2017/2018) will increase the number of clients to more than 500,000 per year. To compare with the past, in the winter season of 2014/15, TMR

recorded 150,000 skiers per year at average conditions in the resort of SON. For more details about the investment plan for Szczyrk, please click here.

Ing. Jozef Hodek Member of the Board of Directors