Appointmentof management members

TheManagement Board of Echo Investment S.A. with its registered office inKielce (hereinafter referred to as the Company) hereby reports that on10 October 2017 the Company's Supervisory Board, acting pursuant to § 14section 1 of the Company's Statute appointed Mikołaj Martynuska andWaldemar Olbryk as Members of the Management Board for a joint term ofoffice.

AccordingtoMikołajMartynuska's representation, he does not perform any competitiveactivities outside the Company; he does not participate in a competitivecompany as a partner in a civil law company or a partnership, or as amember of a body in a joint stock company or any other competitivecorporation. He has not been entered in the register of insolventdebtors, which is kept in accordance with the Act on National CourtRegister of August 20th, 1997.

AccordingtoWaldemarOlbryk'srepresentation, he does not perform any competitiveactivities outside the Company; he does not participate in a competitivecompany as a partner in a civil law company or a partnership, or as amember of a body in a joint stock company or any other competitivecorporation. He has not been entered in the register of insolventdebtors, which is kept in accordance with the Act on National CourtRegister of the August 20th, 1997.

ProfessionalCVs of the appointed are attached to this report.

Legalbasis: §5 (1.22) and §28 of the Regulation of the Minister of Financeof February 19th, 2009 concerning current and periodical informationpublished by issuers of securities and terms of recognizing asequivalent information required by laws of a non-Member State (Journalof Laws of 2014 item 113).