Investor Presentaiton

POČERADY POWER PLANT ECONOMIC CONTRIBUTION TO THE CEZ GROUP'S RESULTS EPC contribution to the consolidated results of CEZ Group* 2015 2016 2017 2018 E 2019 Sale of electricity inc. AS bn CZK 5.4 5.3 4.6 4.6 5.1 Electricity supply TWh 5.1 5.6 5.4 5.3 4.7** Costs of coal bn CZK -2.4 -2.6 -2.5 -2.5 -2.4 Costs of CO2 bn CZK -1.1 -0.7 -1.0 -1.1 -1.4 CO2 allocation bn CZK 0.5 0.3 0.2 0.2 0.1 Gross margin bn CZK 2.2 2.1 1.2 0.9 1.2 Avg achieved power price EUR/MWh 40.4 34.8 32.0 31.2 37.3 Avg CO2 achieved purchase price EUR/t 7.7 4.6 6.7 7.9 11.0 Avg coal achieved pur. price (incl. logistics) CZK/GJ 41.8 40.6 40.3 41.3 43.8 Fixed operating costs bn CZK -1.2 -1.0 -1.1 -1.1 -1.3 EBITDA bn CZK 1.1 1.1 0.1 -0.1 -0.1 *Financial results reported for separate company Elektrárna Počerady, a.s. („EPC") differ from the stated contribution to consolidated results mainly due to the inter-company tolling agreement between ČEZ, a. s., and EPC, which enables efficient operation of separate power plant in the ČEZ portfolio. This agreement transfers risks and opportunities from development of power prices and CO2 allowances to CEZ and it guarantees fixed profitability set on the power price and CO2 emission allowances from 2015 for EPC. Moreover, ČEZ Group reports its financial results in accordance with IFRS, while EPC reports in Czech accounting standards CAS. ** Lower volume of estimated electricity supply in 2019 is due to the planned general overhaul of unit 3. 20 Note.: E - expected, AS - Ancillary services CEZ GROUP Π

View entire presentation