Valamar Riviera d.d.

M&A Activity • Dec 18, 2014

Croatian Agency for Supervision of Financial Services Miramarska 24b 10 000 Zagreb

Zagreb Stock exchange Ivana Lučića 2a 10 000 Zagreb

HINA ots@hina.hr

Poreč, 18.12.2014. No.10-1/14

Subject: Delivery of notification on conclusion of Merger Agreement

Dear all,

we hereby notify you that the company VALAMAR RIVIERA d.d, Poreč, Stancija Kaligari 1, entered into court register of Commercial court in Rijeka - permanent service Pazin under subject number 040020883, OIB: 36201212847 and VALAMAR HOTELI I LJETOVALIŠTA d.o.o. Zagreb, Miramarska cesta 24, entered into court register of Commercial court in Zagreb under subject number (MBS) 080380830, OIB: 24797324530 have on the 18th of December 2014 have concluded a Merger Agreement in the form of a notarized document by which the company VALAMAR HOTELI I LJETOVALIŠTA d.o.o. as merged company will be merged to the take-over company VALAMAR RIVIERA d.d.

The Agreement takes effect after the approval of the assembly of the Merged company and general assembly of Take-over company if holding and approval of the General Assembly is required by law

The Agreement will be submitted to the court register of the Commercial court in Rijeka - permanent service in Pazin and the Take-over company will, in accordance with Paragraph 2 of Article 517 of Companies Act, make the prescribed documentation regarding the relevant merger make available on its web site.

In accordance with applicable regulation the merger is considered concluded after the entry into the court register of Take-over company.

VALAMAR RIVIERA d.d.