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Echo Investment S.A.

Capital/Financing Update Oct 23, 2020

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Capital/Financing Update

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Issuanceof series 1E/2020 bonds

TheManagement Board of Echo Investment S.A. (the "Issuer")hereby reports that today the Issuer issued unsecured ordinary bearercoupon bonds in the total amount of EUR 40.000.000,00. The nominal valueof one bond is EUR 1.000,00 and the issue price of one bond is EUR1.000,00. The bonds will be issued for a period ending on23October 2024. Theinterest rate on the bonds was determined based on the fixed rate 4,5per. cent per annum.Interest earnings will be disbursed in 6-month intervals. The bonds willbe redeemed on the redemption date at their nominal value. As of theissue date, the bonds were allocated to 41entities.As of theissue date the bonds were introduced to trading on the alternativetrading system organised by the Warsaw Stock Exchange (GiełdaPapierów Wartościowych w Warszawie S.A.).

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