DisclaimerThis material is exclusively for international and promotional purposes. Its intention is to inform about the business strategy of the company Tatry mountain resorts, a.s., with its registered office at Demnovsk Dolina 72, Liptovsk Mikul 031 01, Identifications Number: 31 560 636, registered in the Commercial Registry of District Court of ilina, Section: Sa, Insertion No. 62/L (hereinafter referred to as the TMR Company).

TMR Company shares are traded at the parallel market of stock-exchange listed securities. The companys eguity consists of 6 707 198 equity shares booked on the bearer with a nominal value of 33 per stock. Emission has been allocated ISIN SK11 20010287. In order to make the above emission public at the parallel market of stock-exchange listed securities, there was an elaborated prospectus for the securities of share emissions, ISIN SK11 20010287, as of October 10, 2010. The prospect is published at the following website of the parallel market os stock-exchange listed securities Bratislava: www.bsse.sk and at website of the TMR Company www.tmr.sk

Information contained in this material is not based on historical data, but contains forecasts for future performance. Predictions are based on rational expectations supported by objective data. Predictions are not reliable indicators of future performance and they are not binding. The TMR Company is not liable for any of the above predictions. Future figures of the TMR Company can differ from predictions given in this presentation.

This material is owned exclusively by the TMR Company. Any distribution, duplication, publishing, copy or record of this information, or any part of it contained in this material is forbidden without the prior approval by the TMR Company. Any distribution of this presentation or any part of it beyond the territory of the Slovak Republic can be either restricted, or prohibited by law order of the third state.

Our mission is to secure the renaissance of Tatras from the capital, sports and cultural as well as social point of view.

Position of TMR as a leader in mountain tourism determines: a unique geographical area and market position years of experience and unique know how a business model elaborated into details extensive already realized (EUR 45 mil.) and future investments

Business model based on great growth potential: a year-round use of mountain resorts complementarity of offered services improvement and adjusting of services standards investment development of Tatras benefits of the Shareholders club

INVESTMENT HIGHLIGHTS

HISTORY OF HOLDING

200920082006199220052003Ski Jasn, a.s. founded by the National Property Fund Name changed to JASN Nzke Tatry, a.s.Acquisition of Grandhotel PrahaShares acquisition of TLD, a.s.Acquisition of Grandhotel Star SmokovecName changed to TMR, a.s.Increase of equity ratio to EUR 253 mil. and IPO on BCPB

HOTELS GRANDHOTEL PRAHA **** GRANDHOTEL SMOKOVEC **** GRANDHOTEL JASN **** HOTEL TRI STUDNIKY **** HOTEL SKI BUNGALOWS **

ResortsMOUNTAINSAll you need to enjoy your holiday, you can find at one place...SKI SCHOOL, SKI RENTAL,SHOPS,RESTAURANTS, APRES SKI BARS,ATRACTIONSDEVELOPMENTT. LOMNICA CENTERJASN CENTERGRAND RESIDENCES

The High Tatras (Tatransk Lomnica, trbsk Pleso, Star Smokovec)Luxury year-round touristic resort offers quality complex services during the summer and winter

The Low Tatras (Jasn, Chopok Juh)biggest winter sport resort in central Europe TMRs mountain resorts

The biggest winter sport resort in Slovakia 34 km of ski slopes 14 km of ski slopes with artificial snow transportation capacity is more than 22 000 persons per hour (7 cableways and chairlifts, 18 t-bars) biggest ski school for children in Slovakia - 4000 m2 with conveyor belt professional service, cloakroom, ski school and rental equipment (600 pieces of Ski) 4 sport shopes ski in ski out accomodation candidate Alpine FIS World Cup

Skiing and many possibilities for wonderful summer holiday 14 km of ski slopes 6,2 km of ski slopes with artificial snow transportation capacity is more than 12 600 persons per hour (5 cableways and chairlifts, 10 t-bars ) ski school for children with conveyor belt professional service, ski school and rental equipment (300 pieces of Ski) 2 sport shops- sledding Snowbikes, Skifoxes, Snow tubing, Snowshoeing chairlift trip to Lomnick tt 2643 m hiking, climbing, summer fun tools

Unique hotels in a first-class location, a unique ambiance, wellness and excelentServicesFour 4**** and one 2** hotel 3 of them ski in ski out capacity of beds more than 900 capacity of restaurants/bars approx. 1100 capacity of conference rooms approx. 900

High rate of population around 200km: 7,5 milions people

Clients with tradition to visit Tatras Slovakia, Czech Republic, Poland, Hungary, previous Democratic Republic of Germany

Easy access by plane all big european cities are situated out of mountains- London, Copenhagen, Amsterdam, Moscow, St. Petersburg

Markets in circuit of 1000 km with minimal offer of peer services - Ukraine, Baltic States

Top destination great growth potential

Complex cover of clients needsTMR is the owner of infrastructure facillities TMR is the owner of hotels and apartments and provider of accomodationTMR offers all key services directlyapres ski and gastro on ski slope, ski rental, cloakroom, service and ski school, fun activity: bike park, tubing, boats etc.Service of travel agency (central reservation system on the web sites)Renting the retail rooms

Wealthy client: spends daily more than EUR 200, at present 5% of clienteleTarget: 20% of clientele, 40% of operation profitPotential real estate client

Mainstream: spends daily more than EUR 100, at present 45% of clienteleTarget: 50% of clientele, 50% of operation profitPotential real estate client

Low end: spends daily to EUR 35, at present 50% of clienteleTarget: 30% of clientele, 10% of operation profitOUR CLIENTS

Guarantee of snow extension of artificial snowingReduction of waiting time increase of transportation capacitiesMinimalization of atmospheric exposures gondolasBetter utilisation of the Tatras conditions freeride, natural snowIncrease of winter activities variability sledding, ice-skating etc.Gastro services on ski slope top quality on ski slope, apres skiSki school and rental directly on ski slope, comfort, cloakroomParking near to ski slopesTransportation shuttle transport, Tatras railwaySupport of private subjects activities taxi, bars, restaurantsKey factors of development during winter season

Utilisation of tourism potential:Aquaparks approximately 800 thousand of visitorsChopok cablewayElimination of atmospheric exposures gondolasIncrease of summer activities variability except hiking:scooters, cars, mountainbordssummer tubing, bike park, bob-sled railway, gastro in altitudesFocusing on children parks with theme (aqua, bike, folk handicrafts)Support of private subjects activities aquaparks, golf, caves etc.

Key factors of development during summer season

Hotels:Operation of own hotels in top qualityHigh service standard of catering, hotels equipment and ambiance outside hotelExtension of spa offer - wellnessIntensify social and cultural life in hotelsOffering of congress services apart from main seasonApartments:Establishment of facility managment after their saleUtilization of ownersactivities by attracting visitors to TatrasIncrease of accomodation stake ski in ski outOffering complex services (scatering, wellness, rentals etc.)

Key factors of hotel segment development

Leader in investment development

Investments corporealize the Tatras renaissance and are important for development

Destinations: - Tatransk Lomnica ( Zermat)- Jasn / Chopok ( Ischgl )- Star Smokovec ( Chamonix)- trbsk Pleso ( St. Moritz)

TMR as investment leader in mountain tourism segment: capital expenditures in volume EUR 45 mil. already realized during past 3 years

Future investments in volume more than EUR 100 mil. : projects in infrastructure (cableways, ski slopes, gastro on ski slopes, hotels) realization of projects to build apartments Past investments4 new cableways hotelsrenovation 69 new snow machine6 new snow-ploughs 11 km snowed ski slopes tube run8 km ski slopes 4 apres ski bars 7 restaurants on ski slopesautomatic machine for ski service 3 kindergartens 4 ski rentals - 700 skis

We are investing EUR 90 mil. into resortsinfrastructureCableways EUR 66 mil. increase of transportation capacity for 50 thousand per./hour + 60 %Ski slopes and artificial snow extension of ski slopes area to 210 ha + 37 % EUR 10 mil. increase of ski slopes with artificial snow to 109 ha +113%Buildings (rstaurants...) EUR 12 mil. increase of seatscapacity to 2 200 seats + 82%Parking places EUR 2 mil. increase of total parking capacity to 1900 cars + 75%

NEW CITY CENTER IN TATRANSK LOMNICA TOP location: a part of zone is departure station to Skalnat dolina

Accomodation: 290 apartments in standard of 3* and 4*

Leisure and relax: wellness, fitness, beauty

Shopping passage: 2.520 m2 shops and services, complete amenities

Year-round use: reach sports and cultural utilization

NEW CENTER IN TATRANSK LOMNICA ADVANTAGES OF THE PROJECTS: Unique location compared to competitive projects Creation of independent destination in frame of resort Addition of missing infrastructure in resort Indirect support of resort

PROJECT CENTER I.: TOP location in the center of ski resort Jasn Nzke Tatry, next to the station

Accomodation - 250 apartments in standard of 3* and 4*, 250 garage places

Leisure and relax - 3 x wellness, fitness, beauty

Shopping passage - 2.520 m2 shops and services, restaurants, caffes, bars, boutiques, pharmacy, grocery Year-round use: bike park, adrenalins park, atractions for children

Advantages of the project CENTER I.: Unique location compared to competitive projects Creation of independent destination in frame of resort Addition of missing infrastructure in resort Creation of relationship between owners of apartments and center

Book values of TMR

Key values

increase of transportation capacity, better cableways adaptation to atmospheric exposures and expansion of artificial snow will bring 63% increase of visitors during winter cableway from both sides of Chopok assures more visitors during summer so as ticket price could be higher (80% of price in top Alpine resort) which will bring a significant increase of revenue and EBITDA

Cablewaysaverage 2005/06 - 2008/092013/14Change in %Transportation capacity31 53050 44060%winter31 53050 440summer874515045KM trails4652,6HA trails153209,637%% artificial snow (ha)33%52%Visit rate1 197 0001 786 00049%winter613 000998 00063%% skiers85%92%summer584 000788 00035%Average price person/daywinter141938%summer7817%Daily ticket price top season winter263638%TOTAL revenues13 267 00025 490 00092%winter8 333 00018 686 000124%summer3 988 0006 315 00058%EBITDA5 763 00014 224 000147%

Key values

more visitors in resort will bring revenue increase of ski school and catering men of substance will assure synergic effects on revenue of services in mountains (more clients with habit to rent and use ski school) investments will bring higher quality of catering top resorts Chopok, Priehyba large restaurants in centre of resortLomnica Center more shops shopping center for purchasing mountain equipment

Ski school, ski rental, shops2008/092013/14Change in %Number of rentals9708 360762%% stake of visit rate0,2%1%Number of clients Ski school5 82016 960191%% stake of visit rate1,1%1,9%Trba obchodov159 000467 000194%TOTAL revenues700 0003 863 405452%% cableways revenue5%15%EBITDA-81 0002 221 896

Gastro on ski slope - Tatrasaverage 2005/06 - 2008/092013/14Change in %Number of seats1 2102 10074%TOTAL revenues1 287 0005 180 000302%% cableways revenue10%20%EBITDA-321 0001 550 000

Key values

better quality of resort and increase of visit rate will positively influence increase of occupancy so as increase of average price will be in consequence of existence of men of substance in resort and investments into hotels these synergies will mean 122% revenue increase

Hotelsaverage 2005/06 - 2008/092013/14Change in %Number of beds4164385%Number of room/day149 596153 430Occupancy35%56,4%61%Average room price6885,625,8%Total revenues / room101105Sale6 254 57913 883 200122%EBITDA664 3514 256 628

FINANCIAL RESULTS 2006-2009

Chart2

19468420.20613513475.9645954944.242

22340029.964660417236377.23006315103652.73459729

23397900.712895518119766.80716885278133.90572668

21403045.043200717846588.12149283556456.92170789

Operating sales

Operating costs

Operating revenues

Sheet1

EUR tis.2005/20062006/20072007/20082008/20092009/2010p2010/2011p2011/2012p2012/2013p2013/2014p

2005-20062006-20072007-20082008-2009Mountains14,59214,28715,58815,23413,58216,45219,43029,59735,839

Operating sales19,468,42022,340,03023,397,90121,403,045Lift Tickets13,82813,02513,74012,81311,10413,79116,03723,06926,224

Operating costs13,513,47617,236,37718,119,76717,846,588F&B4828521,2271,6051,6501,7492,0993,8035,174

Operating revenues5,954,9445,103,6535,278,1343,556,457Ski school, rental & retail2834106218158279121,2942,7254,441

Hotel4,2426,1827,3516,1606,2765,8208,2437,7366,980

Total Revenues18,83420,47022,93921,39419,85822,27227,67337,33342,819

Mountains5,1533,9894,7043,5512,4244,1716,16713,52618,475

Lift Tickets5,5864,7565,0413,7702,2314,0415,63211,38814,229

F&B-364-511-312-6118991738341,557

Ski school, rental & retail-69-255-26-15741213621,3042,689

Hotel8451,111678-45312,5524,8284,0323,001

Total EBITDA5,9985,1005,3813,5472,9556,72310,99517,55821,476

Sheet1

Operating sales

Operating costs

Operating revenues

Sheet2

Operating sales

Operating costs

Operating revenues

Sheet3

View after business segments

EUR tis.2005/20062006/20072007/20082008/20092009/2010 I.half of year (IFRS)2009/2010 AssumptionMountains14 60314 28715 58915 2419 28913 590 Cableways13 82813 02513 74212 8207 40011 115 Gastronomy4928521 2271 6061 1261 650 Ski school283410621815763825 Hotels4 2427 3957 3516 0303 4186 273Developers projects000000TOTAL REVENUES18 84521 68222 94021 27112 70719 862Mountains5 0663 9934 7033 5712 3322 426 Cableways5 5864 7595 0413 7882 0492 180 Gastronomy-451-511-312-59171219 Ski school-69-255-26-15811227 Hotels8451 235654-76629542Developers projects000000TOTAL EBITDA5 9115 2285 3573 4952 9612 968

Key efficiency indicators

Simultaneous development:development capacity trailssnow supplynumber increase of visitorsno overpopulation

Key efficiency indicators

Ticket price could gently increase because of inflation by 3-4% p.a.Average ticket price during top season 30-37/day, deeply under Alpines level!

Revenues and EBITDA according to segments

Views

Supervisory board controls and approves investments representatives of owners strong position - elects and calls off members of Board of Directors and controls their activity - approves financial plan - approves all investments over EUR 300 000 - so far three members I. Rattaj chairman, P. Reisel, J. Slab representative of the employeesBoard of Directors strategic administration and responsibility for key decisions authorization to sign- elects and calls off members of Top managemnetu- signs all of contracts and companiesbills - propose investment and financial plan and is responsible for its fulfilment- so far three members B. Hlavat chairman, J.Hodek financies, A. Deveka - Jasn- after dissolution of TLD completing of D. Slavkovsk Vysok Tatry

Top management manufacture control off mills and back offices- is responsible for realization of financial and investment plan- initial of contracts, bills and orders for its sections Principlesfulfilment of corporate governance

Top management Corporate services:Financial management CFO Jozef HodekSales and marketing Frantiek oltis Operations Alena Ondruov

TMRs SHAREHOLDERS on August 4, 2010 Following chart shows owners structure of Tatry mountain resorts, a.s. to 4.8.. 2010.

Is the global warming a problem?

Position of TMR as a leader in mountain tourism determines: a unique geographical area and market position years of experience and unique know how a business model elaborated into details extensive already realized (45 mil. EUR) and future investments

Business model TMR is based on great growth potential and: a year-round use of mountain resorts complementarity of offered services improvement and adjusting of services standards investment development of Tatras benefits of the Shareholders clubWHY SHOULD YOU INVEST INTO TMR?

Economical: Constantly growing share price Yearly planned dividend Yearly dividend resulting from share ownership ( approx. 10 % of share value ) Emotional: Tatras co-ownership Participation in Slovakias development and personal utilization of benefits from this developmentBENEFITS OF SHAREHOLDERS CLUB

Thank you for your attention.

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