CEZ Group Energy Transformation and Financial Results

RECENT INCREASE OF POWER PRICES IS DRIVEN BY NATURAL GAS AND BY CARBON ALLOWANCES Development of prices of electricity price and carbon allowances Czech baseload in EUR/MWh, EUR/t for carbon, Y+1 350 300 250 200 150 100 48 50 53 53 227 121 82 32 93 92 16 0 Dec-19 Apr-20 Aug-20 Dec-20 Apr-21 Aug-21 Dec-21 Apr-22 -Electricity -Carbon -GAS ப G Increase in power prices driven by Natural gas Carbon allowances 1 EUR/t change in carbon. allowance implies 0.6-0.7 EUR changes in electricity price 13

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