Press releases pg. 4

The investor group engaging with CEZ Group in the framework of Climate Action 100+ (Generali Investments, Robeco) have welcomed the announcement that the Science Based Target Initiative has validated overall net-zero, near-term and long-term science-based emission reduction targets of the CEZ Group as being aligned with a “1.5°C” Paris Agreement goal.

Today, the sale of CEZ Group’s 50% stake in AKCEZ Enerji A.Ş. (AKCEZ), owned in a joint venture together with the Turkish partner AKKÖK Holding A.Ş. (AKKÖK), to Torunlar Enerji Sanayi ve Ticaret A.Ş. and Başkent Doğalgaz Dağıtım Gayrimenkul Yatırım Ortaklığı A.Ş. (Torunlar Group) was completed. The sales agreement was signed in July 2022, the transaction was subject to approval by the Turkish antitrust authority and the local energy regulator. AKCEZ comprises of three subsidiaries that deal with electricity distribution, energy sales and energy services.

CEZ Group's plans to achieve net-zero by 2040 have been validated by the globally recognised SBTi expert initiative. CEZ already received confirmation last year of its near-term climate goals set out in the Vision 2030 - Clean Energy for Tomorrow strategy. They now become the first Czech company with a confirmation that their long-term plan is sufficiently ambitious and in line with the Paris Agreement to limit global warming to 1.5°C. International verification of decarbonisation targets is increasingly being requested by banks, insurance companies and investment funds. This year, CEZ expects the emission intensity to decrease by 7% in comparison with last year.

The Czech Republic has taken another crucial step towards ensuring sufficient gas supplies for the future and replacing supplies from Russia. In cooperation with the government, ČEZ Group has contracted long-term annual capacity of 2 billion cubic metres at one of the onshore LNG terminals in Germany. This represents an investment in the further development of the Czech energy sector and strengthens the energy security of the Czech Republic. The Stade terminal will be located near Hamburg at the mouth of the Elbe River on the North Sea and will be commissioned by its operator, Hanseatic Energy Hub, in mid-2027.