30. 3. 2017

CEZ MH B.V. completes equity placing of MOL Hungarian Oil and Gas Plc shares

Further to the announcement on 29th March 2017, CEZ MH B.V., a wholly owned subsidiary of ČEZ, a. s., has announced that it has conditionally sold 7,651,168 shares in MOL Hungarian Oil and Gas Plc (“MOL”) (ISIN: HU0000068952) equal to approximately 7.5% of the share capital of MOL (the “Equity Placing”). The final placing price determined via a bookbuilding process was HUF 18,700 per MOL share, with preliminary proceeds of approximately HUF 143.1 billion.

The proceeds will be used by CEZ MH B.V. to fund the invitation to holders of its outstanding EUR 470.2 million guaranteed exchangeable bonds due 2017, exchangeable into ordinary shares of MOL (ISIN: XS1027633434) (the "Bonds"), to offer to sell their Bonds to CEZ MH B.V. for cash (the "Invitation"), as announced by CEZ MH B.V. on 29th March 2017.

The Invitation and the Equity Placing are subject to terms and conditions specified in the related term sheet dated 29th March 2017.

If all holders tender all their Bonds ČEZ Group estimates that the combined positive impact on its 2017 pre-tax income related to MOL shares sale and the Bonds purchase will be CZK 3.4 billion.

The Invitation is due to expire at 5.00 p.m. (London time) on 30th March 2017. The final number of MOL shares sold in the Equity Placing will be announced following the close of the Invitation and prior to 8.00 a.m. (London time) on 31st March 2017.

Settlement of the Equity Placing is expected to occur on or around 4th April 2017.

Barclays Bank PLC, Citigroup Global Markets Limited and Deutsche Bank AG, London Branch are acting as joint bookrunners with respect to the Equity Placing. Citigroup Global Markets Limited is acting as settlement agent.