Echo Investment S.A.

Related Party Transaction • Sep 26, 2017

Publication of delayedconfidential information on the consideration by the Company and itsmain shareholder of the process leading to the further diversificationof the Company’s shareholder base and the improvement of the liquidityof the shares in the Company

Not for release, publicationor distribution directly or indirectly, in or into the United States ofAmerica, Australia, Canada or Japan or in any other jurisdiction whereto do so would be restricted or prohibited by law.

Pursuant to Art. 17 sections 1and 4 of the Regulation of the European Parliament and Council (EU) No.596/2014 of 16 April 2014 on market abuse (a regulation on marketabuse), which supersedes directive 2003/6/WE of the European Parliamentand Council and directives of the Commission No. 2003/124/WE,2003/125/WE and 2004/72/WE (“MAR”), the Management Board ofEcho Investment S.A. (the “Company”) hereby publishesconfidential information, the publication of which was delayed by theCompany on 20 September 2017 pursuant to Art. 17 section 4 of MAR.

Content of the delayedconfidential information:

The Company together with itsmain shareholder are considering increasing the free float of theCompany’s shares on the regulated market of the Warsaw Stock Exchange,through a non-documented offering to institutional investors in order toimprove liquidity for all shareholders and to further diversify theCompany’s shareholder base. Kempen & Co N.V., Pekao Investment BankingS.A. and WOOD & Company Financial Services, a.s. Spółka Akcyjna, Oddziałw Polsce have been appointed to support this process. At this stage, theCompany itself does not need any additional equity.

This material is not apromotional material in the meaning of article 53 of the Polish Act onPublic Offering, Conditions Governing the Introduction of FinancialInstruments to Organized Trading and on Public Companies dated 29 July2005, as amended.

This material or any parthereof is not intended for distribution, whether directly or indirectly,within the territory of or in the United States of America or otherjurisdictions where such distribution, publication or use may be subjectto restrictions or may be prohibited by law. The securities referred toin this material have not been and will not be registered under the U.S.Securities Act of 1933, as amended (the “U.S. Securities Act”),and may only be offered or sold within the United States under anexemption from, or in a transaction not subject to, the registrationrequirements of the U.S. Securities Act.

This material does not containor constitute or form part of any offer or invitation, or anysolicitation of an offer, for securities, and under no circumstancesshall form the basis for a decision to invest or not in the securitiesof the Company.

Legal basis: Art 17 section 1 MAR– confidential information.