Investor Presentaiton

Taxation of corporate income Effective Corporate Tax Rate in Slovakia (%) 60,0% 49,0% 49,0% 49,0% 49,0% 49,0% 50,0% 39,7% 39,7% 40,0% 36,3% 36,3% 30,0% 20,0% 10,0% 19,0% 19,0% 19,0% 19,0% 19,0% 0,0% 1995 1996 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 Effective corporate tax rate = statutory corporate tax rate x dividend tax rate Source: Ministry of Finance H + Top statutory tax rates on corporate income in V4 (2008): 18.6% in HU, 19% in SK and PL, and 21% in CZ + In Slovakia, since 2004, dividends are exempt from taxation 7

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