Press releases pg. 5

Elektrárna Dukovany II, a. s. (EDU II), a wholly owned subsidiary of ČEZ, has received bids from three bidders for the construction of a new nuclear power source in Dukovany. US-Canadian Westinghouse, French EdF and Korean KHNP had until today to submit their bids. EDU II will now analyze the bids and then negotiate with the bidders. The bidders will then submit their final bids by the end of September next year.

In the third quarter, the operating profit before depreciation (EBITDA) reached CZK 30.0 billion and the net profit was CZK 18.7 billion. For the first three quarters, EBITDA amounted to CZK 89.3 billion. The year-on-year increase of 88% reflects the enormous growth in commodity prices on the wholesale markets, the record profit from commodity trading on foreign markets, as well as the high operational reliability of power plants this year. Net income was CZK 52.3 bn ČEZ Group increases its full-year EBITDA outlook to the level of CZK 115 to 125 billion and net profit adjusted for extraordinary effects to the level of CZK 65 to 75 billion.

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

Two strong brands from two neighboring countries have come together on the way to the modern emission-free energy of the future. U. S. Steel Košice, a subsidiary of the global steel giant UNITED STATES STEEL CORPORATION, and ČEZ, the Czech leader in the field of modern energy and decarbonization, have entered into a non-binding memorandum of cooperation to form strategic partnership until 2025 with the possibility of extension. The memorandum concerns cooperation in the field of emission-free electricity, the construction of renewable sources, energy efficiency and savings, and the development of climate-friendly innovative solutions.