Echo Investment Investor Presentation — May 2018

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Warsaw, 29 May 2018Neither this presentation (the “Presentation”), nor any copy of it, nor the

information contained herein is being issued or may be distributed directly or

indirectly to or into the United States, Canada, Australia or Japan.

This Presentation has been prepared by Echo Investment S.A. (the

“Company”) solely for informational purposes and does not constitute or

form part of, and should not be construed as, an offer, solicitation or

invitation to subscribe for, underwrite or otherwise acquire, any securities of

the Company or any member of its group (the “Group”) in any jurisdiction,

including Poland and the United States, nor should it or any part of it form

the basis of, or be relied on in connection with, any contract to purchase or

subscribe for any securities of the Company or any member of its Group, or

any other contract or commitment whatsoever. This Presentation does not

constitute a recommendation or legal, tax, accounting or investment advice

regarding any securities of the Company or its Group. We recommend that

the recipient seek independent third party legal, regulatory, accounting and

tax advice regarding the contents of this document.

The information contained in the Presentation does not purport to be

comprehensive and has not been independently verified. To the extent

permitted by law, no representation, warranty or undertaking, expressed or

implied, is made as to, and no reliance should be placed on, the fairness,

accuracy, completeness or correctness of the information or the opinions

contained herein.This Presentation contains certain “forward -looking statements”. Forward -

looking statements are generally identifiable by the use of certain words,

including but not limited to: “may”, “will”, “should”, “plan”, “expect”,

“anticipate”, “estimate”, “believe”, “intend”, “project”, “goal” or “target” or the

negative of these words or other variations on these words or comparable

terminology or refer to information relating to the current year and the future.

Forward -looking statements are based on current expectations and

assumptions and involve a number of known and unknown risks,

uncertainties and other factors that could cause the Company’s or its

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