Conclusion by R4R Poland sp. z o.o. of an annex tothe preliminary shares sale agreement concerning the sale of 100% of theshares in the share capital of certain subsidiaries of R4R Poland sp. zo.o., dated 16 August 2025

The Management Board of Echo Investment S.A. (the "Company")hereby informs that on 1 December 2025, R4R Poland spółka z ograniczonąodpowiedzialnością with its registered seat in Warsaw ("R4RPoland"), in which the Company holds a stake of 30% shares, hasconcluded with Vantage Development spółka akcyjna with its registeredseat in Wrocław ("Vantage Development") the annex tothe preliminary shares sale agreement dated 16 August 2025 ("PreliminaryAgreement") regarding sale by R4R Poland of 100% of the shares in 18limited liability companies being subsidiaries of R4R Poland i.e. (i)R4R Wrocław Rychtalska sp. z o.o., (ii) R4R RE Wave 4 sp. z o.o., (iii)R4R Wrocław Jaworska II sp. z o.o., (iv) Hotel Wrocław Grabiszyńska sp.z o.o., (v) R4R Wrocław Park Zachodni sp. z o.o., (vi) R4R PoznańSzczepanowskiego sp. z o.o., (vii) R4R Poznań Nowe Miasto sp. z o.o.,(viii) R4R Łódź Wodna sp. z o.o., (ix) R4R Łódź Kilińskiego sp. z o.o.,(x) R4R Warszawa Taśmowa sp. z o.o., (xi) R4R Warszawa Woronicza sp. zo.o., (xii) M2 Hotel sp. z o.o., (xiii) M2 Biuro sp. z o.o., (xiv) R4RWarszawa Wilanowska sp. z o.o., (xv) Pimech Invest sp. z o.o., (xvi) R4RGdańsk Kołobrzeska sp. z o.o., (xvii) R4R RE Wave 3 sp. z o.o. and(xviii) R4R Kraków 3 Maja sp. z o.o. ("Annex"). TheCompany reported the conclusion of the Preliminary Agreement in thecurrent report dated 16 August 2025, No. 18/2025.

According to the Annex, the parties have agreed thatthe long stop date for signing the final agreement hasbeen extended from 15 December 2025 to 15 May 2026.

Legal basis: article 17(1) MAR - confidentialinformation.