CEZ Group Energy Transformation and Financial Results

OUR BALANCE SHEET STRENGTH SUPPORTS FUTURE GROWTH Net economic debt/EBITDA* 2021 EDF EON Naturgy Energy Engie EDP Π 5.2x 4.7x 3.7x 3.6x 3.4x 3.4x 2.8x Net financial debt Current credit rating a notch above European utilities • A-, stable outlook from S&P Baa1, stable outlook from Moody's Net debt to EBITDA target of 2.5-3.0x CZK 34 billion of divestments proceeds strengthened our balance sheet in 2021 • Romania - Transaction settled on Mar 31, 2021 • Bulgaria - - Sold to Eurohold for EUR 335 million Transaction settled on Jul 27, 2021 2020 EBITDA contribution: CZK 6.9 billion Iberdrola CEZ 1.8x ẞ.1x Fortum 2.9x RWE 2.8x Enel 2.8x Verbund 2.6x1 Ørsted A/S 1.7x ■Net economic debt** Ø 3.3x * ** EBITDA as reported by companies Net economic debt = net financial debt + net nuclear provisions + provisions for employee pensions + net reclamation provision 10 10

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