Press releases pg. 8

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.

ČEZ successfully met the conditions of the ISO 37001:2016 anti-bribery management systems certification, focused on preventing corruptive behaviour. Due to the covid epidemic, the certification process stretched over nearly two years. ČEZ is the first partly state-owned company and the first energy company in Central Europe to achieve compliance with the international standard. Minimisation of the risk of corruption and expanding effective measures to prevent and address problems related to corruption is a key criterion in the ESG assessment of a company’s management.

Operating profit before depreciation and amortization (EBITDA) for Q1-Q3 reached CZK 47.5 billion, down by CZK 3.4 billion year on year. The year-on-year decrease is due to the sale of the Romanian and Bulgarian assets in 2021, which resulted in a shorter period of time during which CEZ Group consolidated the results of the assets sold into its results in 2021, and thus CZK 3.1 billion less year on year. CEZ Group refines its full-year EBITDA guidance to CZK 59 to 60 billion, while its expected Net Profit adjusted for extraordinary effects is expected to reach CZK 19 to 21 billion.