Echo Investment S.A. — Earnings Release 2017

Apr 5, 2017

Information onthe number of apartments sold in Q1 2017

The Management Board of Echo Investment S.A.(hereinafter referred to as the ‘Issuer') hereby reports that:

- In Q1 2017 the Issuer and Issuer's subsidiariessold 259 apartments on the basis of preliminary contracts (compared to147 apartments sold in Q1 2016).

- In Q1 2017 the Issuer and Issuer's subsidiariesconcluded 90 final contracts which transferred the ownership ofapartments to clients (compared to 46 such contracts concluded in Q12016)