Press releases pg. 81

In the first quarter of 2014, the CEZ Group recorded a Net Profit of CZK 9.9 bn, with its Operating Profit Before Depreciation (EBITDA) at CZK 21.2 bn and Operating Cash Flow at CZK 15.6 bn; this was 5% less than in Q1 2013. These results reflect the deteriorating business conditions in the energy sector, lower electricity wholesale prices and the stagnating European economy. The year-on-year profit was also affected by the above-average temperatures and below-average precipitation in Q1 2014, combined with the extraordinary revenues posted in Q1 2013.

At today´s meeting the Board of Directors of the power company CEZ decided on date of General Meeting of Shareholders and on proposal of the sum of the dividend from the last year’s profit to be submitted to the General Meeting of Shareholders. The Board of Directors will propose a gross dividend amounting to CZK 40 per share (nominal value CZK 100), the same as last year. General meeting of Shareholders will take place on 27 June 2014.

Today ČEZ cancelled the procurement procedure in accordance with Public Procurement Act for construction of two nuclear units in the location of Temelin nuclear power plant and subsequently sent a relevant notice on cancellation of procurement procedure for public contract to participants. Information was received by all participants – consortium of Westinghouse Electric Company LLC and Westinghouse Electric Czech Republic s.r.o., consortium of ŠKODA JS, Atomstroyexport and Gidropress and also earlier excluded AREVA NP.

The Supervisory Board of ČEZ has today discussed a proposal for a change in the corporate organizational structure that would ensure that each of the Members of the Board of Directors will once again be responsible for a corresponding division. The newly defined divisions also respond to the current developments in the European energy sector where the impacts of regulation and legislation on business have become ever more evident. At the same time, the responsibility for management areas in the CEZ Group will be evenly distributed across all members of the Board of Directors, thus ensuring a greater management effectiveness. All changes will take effect as of 1 May 2014.