• Lisala, an entity controlled by the WING Group, has launched a voluntary tender offer for all remaining shares of Echo Investment S.A.
• The offer price of PLN 5.20 per share includes a premium of 0.58% over the 6-month volume-weighted average price (VWAP) of the Company’s shares, calculated prior to the announcement of the notice of intention to launch the tender offer (2 October 2026).
• Subscriptions for the sale of shares will be accepted from 30 October to 30 November 2026, with settlement expected on 7 December 2026.

The Offeror’s intention is to increase its equity stake in the Company, while maintaining the trading of Echo Investment shares on the Warsaw Stock Exchange and preserving the Company’s status as a public company. Lisala intends to continue a strategy focused on supporting long-term growth through the further development of the Company’s existing operations, without altering its business profile. Furthermore, Lisala plans to pursue a policy aimed at building value for all of the Company’s stakeholders.

The use of the tender offer mechanism reflects the requirements arising under the applicable capital markets regulations. In particular, pursuant to the transitional provisions introduced in 2022, which apply to shareholders that, as at 30 May 2022, held more than 50% but less than 66% of the total voting rights in a public company, a further increase in voting rights triggers an obligation to announce a tender offer. Accordingly, the acquisition of the Company’s shares within the voluntary tender offer provides Lisala with an appropriate mechanism to increase its shareholding in the Company, allowing Lisala to fulfil its regulatory obligations.

“As a strategic, long-term investor, we intend to increase our stake in Echo Investment while keeping its shares listed on the Warsaw Stock Exchange. We view the Company’s public status as an important source of transparency and value for all its stakeholders. We will continue to support Echo Investment’s long-term growth without altering its business profile”, Noah M. Steinberg, Chairman and CEO of WINGHOLDING Zrt.

In accordance with applicable law, the tender offer includes additional conditions, while the Offeror reserves the right to proceed with the acquisition of the shares even if one or more of these conditions are not met.

Tender offer timetable: