Investor Presentaiton

Post separation setup... 02 CR X CETIN relationship ... Two strong independent companies. O₂ PPF stake: 81.06% ►CETIN ČESKÁ TELEKOMUNIKAČNÍ INFRASTRUKTURA PPF stake: 100.00% Independent conduct solely on commercial basis ■ Independent IT, corporate bodies, business plan and goals CETIN key vendor of O2 Commercial relationship established & working... 12 main business contracts on commercial as well as regulated basis Fixed - based on reference/regulated price Mobile - open book principle @ CZK 4.4 bn. for 7 years Data centers, Roaming, Collocation, etc. 31 02 CR X PPF relationship PPF considers O2 as financial investment, i.e. not as part of PPF Group PPF does not interfere with daily management, O2 does not pay any management fee to PPF PPF not seeking to squeeze out minorities, supports increase in O2 liquidity and free-float O2

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