Tatry Mountain Resorts A.S.

Earnings Release • Apr 21, 2016

April 21, 2016

Key 2015/16 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 21, 2016 TMR released key season-to-date metrics for the winter season 2015/16 – for the period from the beginning of the winter season in November 2015 till April 17, 2016 – compared to the prior year season-to-date period. The comparison includes the hotels of TMR's portfolio and mountain resorts - Jasná Nízke Tatry; Vysoké Tatry – Tatranská Lomnica, Starý Smokovec, and Štrbské Pleso; and Szczyrkowski ošrodek narciarski (SON) in Poland; and from leisure parks Aquapark Tatralandia. 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 +5.5%
• The visit rate in Mountain Resorts, measured by the number of skier days, grew for the comparable period by +7.1%
• In Leisure Parks the number of visitors for the given period decreased year-over-year by - 5.1%
• Hotels' occupancy improved in weighted average by +2.8 percentage points and average daily rate jumped up by +4.4%
• Ski pass sales for the given period were up by +1.6%
• Sales from Leisure Parks were up +6.1%
• Hotels' sales increased year-over-year by +6.4%
• Sales from Dining were up +12.9% and from Sports Services & Stores +19.6%

Bohuš Hlavatý, TMR's CEO, commented on the season's interim results: "Despite the fact that the past winter was yet again one of the warmer and drier ones, we can describe it as a successful one. We are pleased that our clients have not been discouraged by weather and they spent their vacations and getaways in the Tatra outdoors. This was achieved for the most part by offering special deals for clients in the Gopass program, by an increase in the number of season pass holders, and mainly by our focus on the quality of services provided on the slope, in dining, and lodging, which was confirmed by significant increases in these segments. Besides that, growth was also supported by events in our resorts, such as the Ice Dome at Hrebienok or the very successful Women's World Cup, which we managed to organize in Jasná after 32 years."

Key metrics of the winter season 2015/16	Change yoy %
(November 1, 2015 - April 17, 2016)	17/04/2016 vs 17/04/2015
Skier days	+7,1%
Visit rate in Leisure Parks	-5,1%
Occupancy in Hotels	+2,8%
Average rate in Hotels	+4,4%
Sales in Mountain Resorts	+1,6%
Sales in Leisure Parks	+6,1%
Sales in Dining	+12,9%
Sales in Sports Services & Stores	+19,6%
Sales in Hotels	+6,4%
Total Sales	+5,5%

Ing. Jozef Hodek Member of the Board of Directors