Establishment of a bond issuance program of Echo Investment S.A. for the issuance of bonds denominated in EUR and the possibility of carrying out a bond issue pursuant to the issuance program

Article 17 of the Regulation of the European Parliament and of the Council (EU) No. 596/2014 of 16 April 2014 on market abuse and repealing Directive 2003/6/EC of the European Parliament and of the Council and Commission Directives 2003/124/WE, 2003/125/WE and 2004/72/WE.

The Management Board of Echo Investment S.A. (“Issuer”) informs the public that on 3 September 2020 the Issuer and Bank Polska Kasa Opieki S.A. concluded an issue agreement (the “Issue Agreement”), establishing a program for the issuance of unsecured ordinary bearer bonds up to the total amount (nominal value) of the issued and outstanding bonds of EUR 100,000,000 (the “Issuance Program”).

Bonds issued pursuant to the Issuance Program (“Bonds”) will be offered for purchase in accordance with Article 33 point 1 of the Bond Act dated 15 January 2015, without the need to draw up a prospectus or information memorandum.

On the issuance date the Bonds will be registered in the depository maintained by Krajowy Depozyt Papierów Wartościowych S.A.

Bonds will be introduced to trading in an alternative trading system operated by Giełda Papierów Wartościowych w Warszawie S.A.

The Issuer allows for the possibility of carrying out an issue, pursuant to the Issuance Program, of the first series of Bonds, subject to the occurrence of appropriate conditions in the debt securities market.  Bonds will be issued as unsecured ordinary bearer bonds denominated in EUR and bearing interest at a fixed or variable interest rate, with a maturity not exceeding 5 years. The final parameters of the Bonds will be determined through talks with investors and will be subject to approval of the Issuer’s Management Board. Decisions concerning issues of further series will depend on current conditions of the debt securities market.