Press releases pg. 10

Operating Revenues increased by 29% year-on-year to CZK 76.0 billion and Earnings Before Interest, Tax, Depreciation and Amortization (EBITDA) by CZK 25.8 billion to CZK 43.7 billion. Net Income reached CZK 26.7 billion, up CZK 18.3 billion. The Q1 results reflect record-high profits from commodity trading in Western European markets, high operational reliability of power plants and enormous growth in commodity prices on wholesale markets. In addition, specific temporary effects of nearly CZK 8 billion were positive, but these will be eliminated during 2022. Nevertheless, CEZ Group raises its full-year EBITDA guidance to CZK 95 to 99 billion and Net Income adjusted for extraordinary effects to CZK 45 to 49 billion.

Major international agencies focused on the ESG rating of corporations have increased ČEZ Group’s rating by several percentage points. The company’s rating has improved, for example, with the world’s largest ESG rating provider MSCI, the US financial company S&P Global, and with the Institutional Shareholder Services (ISS). Last May, ČEZ Group announced its goal to be among the best 20% of companies in the energy sector in terms of sustainability rating.

CEZ Group’s operating income before depreciation and amortization (EBITDA) for 2021 reached CZK 63.2 bn, a decrease of CZK 1.5 bn year-on-year, although the Romanian and Bulgarian companies sold were consolidated into the results for a significantly shorter period than in the previous year. EBITDA of existing assets increased by CZK 2.7 bn year-on-year. Net income adjusted for exceptional non-monetary effects decreased by 3% to CZK 22.3 bn. The Board of Directors will propose a dividend of CZK 44 per share to the annual Shareholders’ Meeting. The Company expects EBITDA of CZK 85–89 bn in 2022 and net income of CZK 38–42 bn. The dividend from income is expected to be CZK 56–62 per share in 2022.

• The Elevion Group comprises 54 companies in 9 countries, employing more than 4,100 people.

• In total, the Belectric Group has completed more than 400 photovoltaic projects with a capacity of more than 4 GW and provides services on 2.2 GW of power plants.

• Belectric GmbH and other European parts of Belectric will become one of the flagships of Elevion Group’s expansion in the solar market.

• For Belectric, the merger with the Elevion Group means the possibility of significant synergies in the advanced energy solutions sector and access to new customers.

The subject of the acquisition is a 100% stake in the German-based Belectric GmbH and other European parts of the Belectric Solar & Battery Group holding, such as Belectric France SARL, Belectric Solar Ltd, Belectric Italia SRL, as well as Belectric Israel Ltd. The group develops, designs, builds, and services photovoltaic power plants. The acquisition is in line with the Elevion Group’s strategy that envisages covering the entire business chain in the field of climate-neutral solutions.