Press releases pg. 2

The Supervisory Board of ČEZ confirmed at its session yesterday that Michaela Chaloupková, Administration Division Director, and Martin Novák, Finance Division Director, will continue their offices as members of the Board of Directors. Martin Novák’s next term of office will commence on 24 May 2020, while that of Michaela Chaloupková will begin on 1 January 2020. This will ensure continuity in key corporate management areas.

The ČEZ Supervisory Board has approved the cancellation of the Stock Option Program for ČEZ management and has replaced it with a new, stricter system of long-term performance bonuses for members of the Board of Directors. This change was initiated by the Supervisory Board itself one year ago after its new members took up their offices. The new program of long-term performance bonuses improves the consistency of the interests of beneficiaries and shareholders and is linked to stock price, dividend distribution and performance of the company. Thus beneficiaries will, in the long run, participate in the growth or decline of shareholder value. The new system starts 1 .1. 2020.

At today’s meeting, the ČEZ Supervisory Board re-elected Martin Novák as member of the board of directors for the next four-year term that runs from May next year. “With the approaching end of the current office term of this key manager, the company in this way expressed that it also counts on him for the future. Thanks to this, continuity shall be maintained in key areas of company management, especially at present when he was in the scope of recent changes delegated to head the entire Operations Team from next year,” explained Chairman of the Supervisory Board prof. Václav Pačes.

The Supervisory Board of ČEZ, a.s., at its meeting held today, elected Pavel Cyrani and Michaela Chaloupková to another four year term as members of the Board of Directors, commencing as of this October. "With the approaching end of the original mandate of both top managers, the Company has made it clear that it plans to have them serve in their positions in the future as well. This will ensure their continuity in key areas of the company's management," explained the chairman of the Supervisory Board, Prof. Václav Pačes.