Investor Presentaiton

Tax deductibility of excessive borrowing costs Since 1 April 2019 also additional rules concerning tax- deductibility are applicable. The amount of borrowing costs (less borrowing income) are tax-deductible only up to CZK 80 million (or 30% of EBITDA if such amount is higher). Borrowing costs which were treated as tax non-deductible in one year can be deducted in future years provided that in these years the limitation threshold is not exceeded. The limitation applies for both internal and external borrowing costs (including bank loans). 81

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