Echo Investment S.A.

Share Issue/Capital Change • Dec 1, 2016

With reference to the informationreferred to in current report No. 26/2016, the management board of EchoInvestment S.A. (the "Issuer") hereby announces that: (i) on29 November 2016, a subsidiary of the Issuer, Echo Prime Assets B.V.("Echo Prime"), Leon Kok ("LK") and The Big Five International Limited("BFI"), in performance of Echo Prime's and LK's rightarising from a sale agreement dated 23 August 2016 executed between EchoPrime and LK (the "Agreement"), executed a deed of novation pursuant towhich LK transferred the rights and obligations arising from theAgreement to BFI; and (ii) in relation to the satisfaction of theconditions precedent specified in the Agreement, on 1 December2016, Echo Prime sold 25,726,456 shares (the "Shares") representingapproximately 4.4% of the share capital of Echo Polska Properties N.V.("Echo Polska") to BFI.

The purchase price for the Sharesamounts to EUR 25,726,456 (the "Purchase Price") and is to be paid by 23August 2017 (along with the interest on the price accrued from the dateof execution of the Agreement).

On 29 November 2016, the partiesto the Agreement also entered into: (i) a lock-up agreement regarding20,581,165 Shares the term of which will last from the date of theacquisition of the Shares to 1 July 2017; and (ii) an account chargeagreement in respect of a securities account and collections account tosecure the payment of the Purchase Price in relation to 20,581,165Shares.