Tatry mountain resorts : Re. Item 8 of the agenda – Amendment the Companys Renumeration policy of Bodies of the Public Joint Stock Company

Proposal of the Board of Directors of the

Tatry mountain resorts, a.s. company

with the registered office at Demänovská Dolina 72, 031 01 Liptovský Mikuláš, Company number: 31 560 636, registered in the Commercial Register of District Court Žilina, Section: Sa, Insertion No.: 62/L

to ament the Company's Remuneration Policy of Bodies of the Public Joint Stock Company

The Board of Directors of the Tatry mountain resorts, a.s. company with the registered office at Demänovská Dolina 72, 031 01 Liptovský Mikuláš, Company number: 31 560 636, registered in the Commercial Register of District Court Žilina, Section: Sa, Insertion No.: 62/L (hereinafter referred to as "Company") hereby

proposes to the Annual General Meeting of the Company,

which is going to be held at Holiday Village Tatralandia, Ráztocká 21, 031 05 Liptovský Mikuláš on 31st May 2023 from 11:00 a.m. (hereinafter referred to as the "Annual General Meeting"), that the following

resolution of the Annual General Meeting

should be adopted

according to item 8 of the agenda:

"The Annual General Meeting hereby adopts amendments to the Company's Remuneration Policy of Bodies of the Public Joint Stock Company as follows:

Item 2.3.10 is hereby amended and shall read as follows:

2.3.10 The variable component of the total remuneration and the proportional part of the variable component of the total remuneration pursuant to item 2.3.11 and 2.3.12 is paid to board members once a year on the earliest day specified as the day when Company employees are paid their salaries after publishing the statutory consolidated financial statements of the Company regarding the financial year that the remuneration is paid for.

Item 2.3.11 is hereby amended and shall read as follows:

2.3.11 If any board member takes their office in the course of the financial year that the variable component of the total remuneration shall be paid for, they get entitled to be paid a proportional amount of the variable component of the total remuneration. The proportional amount of the variable component of the total remuneration shall be calculated on the basis of monthly remuneration base, which shall correspond to sum of the managerial consolidated EBITDA achieved in the in the respective calendar month of the respective financial year and 1/12 of the difference of EBITDA and yearly managerial consolidated EBITDA of the TMR Group (hereinafter referred to as "Monthly Remuneration Base"). The managerial consolidated EBITDA shall be calculated and determined as for the companies of the TMR group by the Financial Department of the Company and shall be submitted to the Company management on a regular basis for the purposes of management of TMR Group. The board member who

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takes their office in the course of the financial year gets entitled to be paid proportional amount of the variable component of the total remuneration as follows:

1. in case the criteria set out in item 2.3.4.1 are met, in the amount of sum of the Monthly Remuneration Bases reported for the calendar months the respective board member was in their office during the respective financial year;
2. in case the criteria set out in item 2.3.4.2 are met, in the amount of 70 % of the sum of the Monthly Remuneration Bases reported for the calendar months the respective board member was in their office during the respective financial year;
3. in case the Adjusted EBITDA for the last audited financial year is less than 85 % of the Adjusted EBITDA for the audited financial year preceding the last audited financial year, the board member does not get entitled to the proportional amount of the variable component of the total remuneration as determined in accordance with items 2.3.11.1 or 2.3.11.2.

Item 2.3.12 is hereby amended and shall read as follows:

2.3.12 If any board member leaves their office for any reason, they get entitled to be paid proportional amount of the variable component of the total remuneration as follows:

1. in case the criteria set out in item 2.3.4.1 are met, in the amount of sum of the Monthly Remuneration Bases reported for the calendar months the respective board member was in their office during the respective financial year;
2. in case the criteria set out in item 2.3.4.2 are met, in the amount of 70 % of the sum of the Monthly Remuneration Bases reported for the calendar months the respective board member was in their office during the respective financial year;
3. in case that the Adjusted EBITDA for the last audited financial year is less than 85 % of the Adjusted EBITDA for the audited financial year preceding the last audited financial year, the board member does not get entitled to the proportional amount of the variable component of the total remuneration as determined in accordance with items 2.3.12.1 or 2.3.12.2.

In Demänovská Dolina on 25th April 2023

Tatry mountain resorts, a.s.	Tatry mountain resorts, a.s.
Ing. Igor Rattaj, m.p.	Ing. Jozef Hodek, m.p.
Chairman of the Board of Directors	Member of the Board of Directors