Tatry Mountain Resorts A.S.

M&A Activity • Jun 12, 2019

June 12, 2019

Tatry Mountain Resorts finally at a glacier – the Company bought the alpine ski resorts Mölltal a Ankogel

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", "TMR"), 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:

Liptovský Mikuláš – June 12, 2019 - The Slovak company, Tatry Mountain Resorts, a.s. expanded its portfolio of mountain resorts. The intent communicated a while back to enter an alpine resort has come true with the acquisition of the Mölltal resort in Austrian Carinthia.

TMR signed a contract to purchase a 100% interest in the Mölltaler Gletscherbahnen Gesellschaft mbH & CO KG Company, the owner and the operator of the glacier ski resort Mölltaler Gletscher in Austria and its sister resort, Ankogel – Mallnitz. TMR, which already in the past season was selling ski passes to these resorts through its online sales channel, GOPASS, based on a cooperation agreement, became their owner after one year.

The entry to the glacier represents a strategic decision for the TMR Company. An important factor is an option to expand the offer for clients so that they can enjoy a quality skiing far sooner than the start of the season in TMR's existing resorts, or quite the opposite, so that they can ski much longer after the end of the season in Slovakia, Czechia, or Poland.

TMR's first steps in the Mölltal resort will lead to set the standards in the dining segment and in other services. In the 1-3 year period TMR plans to exchange the original cableway with a new one, which would help to eliminate unfavorable weather conditions. Since Mölltal has ideal conditions for ski training at the top level, TMR also wants to focus on ski clubs and professional athletes. The GOPASS program will be an important part of the acquisition since its benefits for its members were shown already in the past season. Thus, also this year TMR will be expanding the program into the dining and shops segments.

Ing. Jozef Hodek Member of the Board of Directors