Echo Investment S.A.

Major Shareholding Notification • Jun 22, 2017

Saleof shares in Echo Polska Properties N.V.

TheManagement Board of Echo Investment S.A. (the "Issuer")hereby announces that on 22 June 2017, the Issuer and its subsidiary,Echo Prime Assets B.V. (the "Company"), received fromRedefine Properties Limited ("Redefine") a lock-up waivernotice with respect to the shares in Echo Polska Properties N.V. ("EPP")held by the Company (the "Notice"). Pursuant to the Notice,starting from 20 June 2017, the Company may sell the shares it holds inEPP without being subject to the restrictions resulting from the currentagreements with Redefine.

On 22June 2017, the Company: (i) was informed about receiving purchase ordersregarding 40,000,000 shares in EPP (the "Shares"), with thecontemplated settlement of the sale of the Shares (including the receiptof the price for the Shares) taking place no later than on 26 June 2017;and afterwards (ii) confirmed the terms of the sale of the Shares. Theprice of the Shares, less the transaction costs, was established at EUR49,000,000.

Inrelation to the receipt of the Notice, all of the other shares in EPPheld by the Company will be classified by the Issuer in the financialstatements as assets held for sale.

Legalbasis: Art. 17 section 1 of the MAR - confidential information