Appointment and dismissal of persons supervising the Issuer

The Management Board of Echo Investment S.A. (Issuer, Company) informs that by Resolutions 21 and 23 dated 13 August 2020, the Ordinary General Shareholders Meeting of Echo Investment S.A. decided to appoint the following persons to the Supervisory Board of the Company of the current term of office:

Margaret Dezse – as a member of the Supervisory Board meeting the independence criteria stipulated for members of audit committees, specified in the Act on Chartered Auditors, Audit Firms and Public Oversight of 11 May 2017;

Sławomir Jędrzejczyk – as a member of the Supervisory Board meeting the independence criteria stipulated for members of audit committees, specified in the Act on Chartered Auditors, Audit Firms and Public Oversight of 11 May 2017.

Neither of the appointed supervising persons is entered in the Register of Insolvent Debtors maintained on the basis of the Act on the National Court Register.

Neither of the appointed persons conducts any activity competitive towards the Company or participates in a competitive company as a partner/shareholder of a civil partnership, personal company, corporation or a member of a governing body of any competitive legal entity.

Professional resumes of the appointed supervising persons are included in the Issuer’s current report no. 21/2020 dated 22 July 2020.

Further, by Resolution no. 22 the Ordinary General Shareholders Meeting of Echo Investment S.A. decided to recall from the Supervisory Board of the Company of the current term of office Mr. Stefan Kawalec - member of the Supervisory Board meeting the independence criteria stipulated for members of audit committees, specified in the Act on Chartered Auditors, Audit Firms and Public Oversight of 11 May 2017.

Legal basis: § 5 in connection with § 10 and § 9 of the Regulation of the Minister of Finance dated 29 March 2018 on current and periodical information provided by issuers of securities and conditions of recognizing information required by the regulations of a non-member state as equivalent (Journal of Laws of 2018, item 757).