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Based on information available, the Board of Directors of ČEZ, a. s. assessed the advantages and disadvantages arising from the position of ČEZ, a. s. as described above and came to the conclusion that ČEZ, a. s. did not derive any special advantages and/or disadvantages or risks from its position, especially with respect to minimum links with other entities controlled by the Czech Republic—Ministry of Finance due to their significantly different main lines of business. After careful consideration, the Board of Directors of ČEZ, a. s. declares that it is not aware of any risks resulting from relations between the above described entities against which standard safeguards would not be in place.

The Related Parties Report was prepared on the basis of all information available. In spite of reasonably made efforts that may be fairly expected from the author, the companies listed below did not provide requested information:

Severočeské mlékárny, a.s. Teplice;

Ormilk, a.s.v likvidaci (company in liquidation);

HOLDING KLADNO a.s.“v likvidaci“ (company in liquidation);

CENTRUM - F, a.s. v likvidaci (company ceased to exist on January 21, 2016); Hotelinvest a.s. (company ceased to exist on May 12, 2015);

STROJÍRNY TATRA PRAHA,a.s.v likvidaci (company in liquidation);

BOHEMIA CRYSTALEX TRADING a.s. (company ceased to exist on December 18, 2015).

The Related Parties Report was submitted to the Supervisory Board of ČEZ, a. s. for review within the meaning of Section 83(1) of Act No. 90/2012 Sb., on business corporations.

Annexes:

1. Relation Structure Diagram (see insert under back cover flap) 2. Alphabetical List of Companies (see insert under back cover flap) 3. List of Mutual Contracts

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Annex 3

List of Mutual Contracts

Company Contract number Contract title, date

A.E. Wind sp. z o.o. No. 2012/4 Loan Facility Agreement of March 9, 2012 (Agreement Subject: Loan) A.E. Wind sp. z o.o. No. 2015/2 Loan Facility Agreement of April 16, 2015 (Agreement Subject: Loan)

Akcez Enerji A.S. Individual Agreement on the Provision of Services No. I of July 1, 2013 (Agreement Subject: Provision of Services)

Akcez Enerji A.S. Individual Agreement on the Provision of Services No. II of July 1, 2013 (Agreement Subject: Provision of Services)

Akenerji Elektrik Üretim A.S. 4100503098 Rental Agreement for Non-Residential Facilities of February 28, 2011 Akenerji Elektrik Üretim A.S. 5600001690 Frame Agreement on Provision of Services of May 10, 2010

Akenerji Elektrik Üretim A.S. 5600001692 Individual Agreement on the Provision of Services No. II of May 10, 2010 (Agreement Subject: Provision of Services)

Akenerji Elektrik Üretim A.S. 5600001691 Individual Agreement on the Provision of Services No. I of May 10, 2010 (Agreement Subject: Provision of Services)

Areál Třeboradice, a.s. Agreement on Mutual Credit Facilities in Relation to the Agreement on Provision of the Real Reciprocal Multilevel Flexi Online Cash-Pooling for the Business-Linked Group of August 23, 2013 Baltic Green

Construction sp. z o.o. No. 4/2015 Loan Facility Agreement of August 20, 2015 (Agreement Subject: Loan) Baltic Green VII sp. z o.o. No. 2015/3 Loan Facility Agreement of April 16, 2015 (Agreement Subject: Loan)

Bara Group EOOD Agreement on Provision of Advisory Services of July 1, 2014 (Agreement Subject: Advisory Services in Connection with Biomass Power Plant Building)

Centrum výzkumu Řež s.r.o. 4101269581 Agreement on Developing Mathematical Model and Monitoring of Defectoscopic Defects Centrum výzkumu Řež s.r.o. 4400029974 Agreement on Monitoring of Gamma Radiation Field and Neutrons for Official Concrete Samples of

Dukovany Power Plant

Centrum výzkumu Řež s.r.o. 4400031372 Agreement on Completion of Pilot Device with UV Radiation Centrum výzkumu Řež s.r.o. 4400032661 Agreement on Water Preparation System Measuring (ELE)

CEZ Bulgaria EAD HS30023140 Frame Agreement on the Provision and Coordination of Services of June 25, 2007 (Agreement Subject: Provision of Services - Services Concerning Organization and Administration, Regulation Advisory, Public Relations, Customer Services, Property Proceedings, Finances, Controlling and Reporting, Human Resources, Information and Telecommunication Technologies, Purchases and Logistics, Transportation, and Project Management)

CEZ Bulgaria EAD HS30023141 Individual Agreement on the Provision of Services No. I of June 25, 2007 (Agreement Subject: Provision of Services - Services Concerning Information Collection and Marketing Surveys, Completion of Checking and Organization Processes, Network Expansion, Technical Recovery, Power Meter Data/Condition Reading, Technical Inspection, Regulatory Management, Internal Audit, Assistance/Cooperation During Negotiations with Unions)

CEZ Bulgaria EAD 5600002751 Individual Agreement on Provision of Services No. II of December 1, 2011 (Agreement Subject: Provision of Services - Services Concerning Administration Service, Finances, Treasury, Controlling, Financial Accounting, Power Economics, Rate Calculation, Network Control Engineering Services, Legal Services, Human Resources, Insurance Control, Purchases and Logistics, Project Management, and Tax Services)

CEZ Bulgaria EAD HS30023143 Individual Agreement on Provision of Services No. III of June 25, 2007 (Agreement Subject: Provision of Services - IT Services, SAP)

CEZ Bulgaria EAD HS30023144 Individual Agreement on Provision of Services No. IV of June 25, 2007 (Agreement Subject: Provision of Services - Services Concerning Remote Reading/Sensing of Data/Condition of Power Meters Connected to Medium Voltage, Data/Condition Processing, Invoicing Data Supply, Data Processing/ Administration in Converge, and Regular Provision of Selected Profiles)

CEZ Bulgaria EAD HS30031716 Individual Agreement on Provision of Services No. V of December 3, 2007 (Agreement Subject: Provision of Services - Maintenance of WAN/LAN Data Network and Data Network Monitoring) CEZ Bulgaria EAD Individual Agreement on Provision of Services No. VI of December 10, 2008 (Agreement Subject:

Provision of Services, Access to Internet / Intranet of Applications and Modules in Web Portals, Internet Applications and Presentations)

CEZ Bulgaria EAD 4100088819 Individual Agreement on Provision of Services No. VII of November 5, 2010 (Agreement Subject: Provision of GPS Fleetware Services - Car Monitoring and Tracking)

CEZ Bulgaria EAD 4101263303 Agreement on Provision of Legal Services of September 9, 2015 (Agreement Subject: Provision of Legal Services)

CEZ Bulgarian Investments B.V. Agreement on Provision of Services of December 20, 2011 (Agreement Subject: Provision of Services) CEZ Bulgarian Investments B.V. The Mutual Credit Facility Agreement of March 1, 2011 (Agreement Subject: Mutual Credit Facilities) CEZ Deutschland GmbH 2012/8 Loan Facility Agreement (Agreement Subject: Loan)

CEZ Distributie S.A. Agreement on the Issuance of Guarantees of April 5, 2013 (Agreement Subject: Provision of Guarantees) CEZ Distributie S.A. General Agreement on Power Supply and Consumption (EFET) of June 1, 2014

CEZ Hungary Ltd. The Mutual Credit Facility Agreement of February 1, 2010 (Agreement Subject: Mutual Credit Facilities) CEZ Hungary Ltd. General Agreement Concerning the Delivery and Acceptance of Electricity (EFET) of June 1, 2006 CEZ Hungary Ltd. ISDA 2002 Master Agreement of September 30, 2013

CEZ Hungary Ltd. EECS Certificates Master Agreement (EFET) of October 15, 2014 CEZ Hungary Ltd. Full Supply Agreement of October 15, 2009

CEZ Hungary Ltd. 4100060555 Individual Agreement on Provision of Services of June 10, 2008 (ICT Services) CEZ Hungary Ltd. 5600004735 Agreement on Provision of Services of December 20, 2013 (Trading Services)

CEZ Hungary Ltd. Agreement on Provision of Services in Connection with Power Wholesale Trading in Hungary of April 14, 2010

CEZ Hungary Ltd. 4100303593 Agreement on Provision of Services in Connection with Potential CCGT Investments in Hungary of May 2, 2011

CEZ Hungary Ltd. License Agreement (Provision of the Right to Use ČEZ Trademarks on Hungary’s Territory) of December 30, 2014

CEZ Hungary Ltd. Agreement on Issuance of Guarantees of August 30, 2006

CEZ Chorzow B.V. Agreement on Provision of Services of December 20, 2011 (Agreement Subject: Provision of Services) CEZ Chorzow B.V. The Mutual Credit Facility Agreement of February 25, 2010 (Agreement Subject: Mutual Credit Facilities)

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Company Contract number Contract title, date

CEZ Chorzów S.A. XVIII/857 General Agreement on Power Supply and Consumption (EFET) of November 30, 2006 CEZ Chorzów S.A. ELC/U/13/000022 Agreement on Provision of Services in Connection with Power Wholesale Trading in Poland of

October 30, 2013

CEZ Chorzów S.A. ELC/U/14/000095 Confidentiality Undertaking of October 2, 2014 (Agreement Subject: Confidential Information Protection) CEZ Chorzów S.A. Allowances Appendix to the General Agreement Concerning the Delivery and Acceptance of

Electricity (EFET) of November 30, 2006

CEZ ICT Bulgaria EAD HS30031716 Individual Agreement on Provision of Services No. V of December 15, 2015 (Agreement Subject: Provision of Services - Maintenance of WAN/LAN Data Network and Data Network Monitoring) CEZ International Finance B.V. Agreement on Provision of Services of December 23, 2011 (Agreement Subject: Provision of Services) CEZ International Finance B.V. The Mutual Credit Facility Agreement of February 25, 2010 (Agreement Subject: Mutual Credit Facilities) CEZ International Finance

Ireland Ltd. The Mutual Credit Facility Agreement of October 26, 2011 (Agreement Subject: Mutual Credit Facilities) CEZ International Finance

Ireland Ltd. Agreement on Provision of Services of December 23, 2012 (Agreement Subject: Provision of Services) CEZ MH B.V. Agreement on Provision of Services of December 27, 2011 (Agreement Subject: Provision of Services) CEZ MH B.V. The Mutual Credit Facility Agreement of February 25, 2010 (Agreement Subject: Mutual Credit Facilities) CEZ MH B.V. Loan Facility Agreement CEZ MHBV 2014/1 (Agreement Subject: Loan)

CEZ Poland Distribution B.V. Agreement on Provision of Services of December 23, 2011 (Agreement Subject: Provision of Services) CEZ Poland Distribution B.V. Agreement on Provision of Advisory Services Signed of December 29, 2014 (Agreement Subject:

Provision of Advisory Services)

CEZ Poland Distribution B.V. The Mutual Credit Facility Agreement of February 25, 2010 (Agreement Subject: Mutual Credit Facilities) CEZ Polska sp. z o.o. The Mutual Credit Facility Agreement of November 24, 2011 (Agreement Subject: Mutual Credit Facilities) CEZ Polska sp. z o.o. CP/U/14/000026 Rental Agreement for Non-Residential Facilities of April 16, 2014 (Agreement Subject: Office Rental) CEZ Polska sp. z o.o. 00_CP/027/0861/13 Appendix No. 4 to Individual Agreement on Provision of Services No. II of December 22, 2012 CEZ Polska sp. z o.o. Agreement on Provision of Services (Internal Audit) of September 2008

CEZ Polska sp. z o.o. 00_CP/61/1509/09 Agreement on Provision of Services of September 22, 2009 (ICT Services) CEZ Polska sp. z o.o. 5600005695 Agreement on Advisory Services in the Wind Project Area of April 3, 2015

CEZ Romania S.A. The Mutual Credit Facility Agreement of February 25, 2010 (Agreement Subject: Mutual Credit Facilities) CEZ Romania S.A. 4100020296 Agreement on Provision of Services of July 22, 2008 (Agreement Subject: GPS Rental) CEZ Romania S.A. Amendment No. 4 to Individual Agreement on Provision of Services No. III of July 29, 2013

(Agreement Subject: Provision of IT Services)

CEZ Silesia B.V. Agreement on Provision of Services of December 27, 2011 (Agreement Subject: Provision of Services) CEZ Silesia B.V. The Mutual Credit Facility Agreement of February 25, 2010 (Agreement Subject: Mutual Credit Facilities) CEZ Skawina S.A. 1012/2006 General Agreement Concerning the Delivery and Acceptance of Electricity (EFET) of July 1, 2006 CEZ Skawina S.A. 1012/2006 Allowances Appendix to the General Agreement Concerning the Delivery and Acceptance of

Electricity (EFET) of July 1, 2006

CEZ Skawina S.A. General Sales Agreement of January 19, 2015

CEZ Skawina S.A. SK/00135/02033/11 Agreement on Provision of Services in Connection with Power Wholesale Trading in Poland of March 22, 2011

CEZ Slovensko, s.r.o. The Mutual Credit Facility Agreement of February 1, 2010 (Agreement Subject: Mutual Credit Facilities) CEZ Slovensko, s.r.o. Agreement on Mutual Credit Facilities in Relation to the Agreement on Provision of the Real

Reciprocal Multilevel Flexi Online Cash-Pooling for the Business-Linked Group of January 26, 2012 CEZ Slovensko, s.r.o. General Agreement Concerning the Delivery and Acceptance of Electricity (EFET) of December 1, 2007 CEZ Slovensko, s.r.o. General Agreement on Natural Gas Supply and Consumption (EFET) of June 1, 2010

CEZ Slovensko, s.r.o. EECS Certificates Master Agreement (EFET) of November 21, 2014 CEZ Slovensko, s.r.o. 24 Agreement on Single Delivery of Guarantees of Origin CEZ Slovensko, s.r.o. Full Supply Agreement of December 22, 2015

CEZ Slovensko, s.r.o. Agreement on Access to Virtual Gas Reservoir and Gas Storage of February 12, 2014 CEZ Slovensko, s.r.o. Agreement on Access to Virtual Gas Reservoir and Gas Storage of March 31, 2015 CEZ Slovensko, s.r.o. 5600002650 Agreement on Provision of Services of June 10, 2008 (ICT Services)

CEZ Slovensko, s.r.o. 5600003070 General Agreement on Provision of Services of January 2, 2012 (Financial Services, Risk Management Services, Trading Services)

CEZ Slovensko, s.r.o. Agreement on Provision of Services in Connection with Power Wholesale Gas Trading in the Slovak Republic of August 12, 2013

CEZ Slovensko, s.r.o. License Agreement (Provision of the Right to Use ČEZ Trademarks on Slovakia‘s Territory) of December 30, 2014

CEZ Slovensko, s.r.o. Agreement on Issuance of Guarantees of December 21, 2007 CEZ Srbija d.o.o. Agreement on Issuance of Guarantees of November 5, 2006

CEZ Srbija d.o.o. General Agreement Concerning the Delivery and Acceptance of Electricity (EFET) of August 1, 2007 CEZ Srbija d.o.o. 4100012777 Agreement on Provision of Services of June 19, 2008 (ICT Services)

CEZ Srbija d.o.o. License Agreement (Provision of the Right to Use ČEZ Trademarks on Serbia’s Territory) of December 30, 2014

CEZ Srbija d.o.o. Agreement on Business Cooperation in Electricity Trading of October 20, 2008 CEZ Towarowy

Dom Maklerski sp. z o.o. Agreement on Provision of Brokerage Services on Markets Organized by TGE (Towarową Giełda Energii, Polish Commodity Exchange) of July 30, 2014 CEZ Trade Bulgaria EAD General Agreement Concerning the Delivery and Acceptance of Electricity (EFET) of November 1, 2007 CEZ Trade Bulgaria EAD Agreement on Business Cooperation in Electricity Trading of July 16, 2008

CEZ Trade Polska sp. z o.o. General Agreement Concerning the Delivery and Acceptance of Electricity (EFET) of December 15, 2007 CEZ Trade Polska sp. z o.o. General Agreement on Natural Gas Supply and Consumption (EFET) of August 1, 2015

CEZ Trade Polska sp. z o.o. Allowances Appendix (Power) to the General Agreement on Power Supply and Consumption (EFET) of November 1, 2015

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Company Contract number Contract title, date

CEZ Trade Polska sp. z o.o. Full Supply Agreement of December 21, 2009

CEZ Trade Polska sp. z o.o. Agreement on Provision of Services in Connection with Wholesale Electricity Trading in Poland of June 8, 2010 (Supporting Services)

CEZ Trade Polska sp. z o.o. 5600004736 Agreement on Provision of Services of December 20, 2013 (Trading Services)

CEZ Trade Polska sp. z o.o. General Agreement on Market Operating Services of December 29, 2008 (Reports on Power Supply/ Consumption Provided to Transmission Network Operator)

CEZ Trade Polska sp. z o.o. 5600006070 Agreement on Provision of Services of July 23, 2015 (ICT Services) CEZ Trade Polska sp. z o.o. Agreement on Issuance of Guarantees of June 9, 2008

CEZ Trade Polska sp. z o.o. Guarantee Agreement of August 1, 2007 for Polish Energy Regulator (URE) CEZ Trade Romania S.R.L. Agreement on the Issuance of Guarantees of June 10, 2007

CEZ Trade Romania S.R.L. General Agreement Concerning the Delivery and Acceptance of Electricity (EFET) of March 1, 2009 CEZ Trade Romania S.R.L. Agreement on Provision of Services in Connection with Wholesale Electricity Trading in Romania of

January 29, 2015

CEZ Trade Romania S.R.L. Agreement on Provision of Services Related to Balancing of Electricity Trading in Romania of December 27, 2012

CEZ Vanzare S.A. 91_1 Agreement on the Issuance of Guarantees of January 23, 2013 (Agreement Subject: Provision of Guarantees) CEZ Vanzare S.A. General Agreement Concerning the Delivery and Acceptance of Electricity (EFET) of September 1, 2010 CEZ Vanzare S.A. Full Supply Agreement of Power of September 1, 2010

CEZTel, a.s., v likvidaci

(in Liquidation) 5600006023 Agreement on Provision of Services (Web Administration) CM European Power

International B.V. Loan Facility (Agreement Subject: Back-to-Back Loans for Financing of Tranche under Loan Facility No. 0545878/01CRZ) CM European Power

Slovakia s.r.o. 0545878/01CRZ Loan Facility (Agreement Subject: Loan)

ČEPRO, a.s. 4400032764 Agreement on Transportation of Cars with TOLEX (EDU) ČEPRO, a.s. 4400032765 Rental Agreement for Tank Cars for TOLEX Transportation ČEPRO, a.s. 5600006557 Purchase Agreement (Gasoline - BA98)

ČEPRO, a.s. 5600006558 Purchase Agreement (Gasoline - BA98) ČEPRO, a.s. 4101163705 Agreement on Gasoline (BA-98) Exchange ČEPRO, a.s. 4101190024 Agreement on Supply of Automobile Gasoline (ETE) ČEPRO, a.s. 4101263599 Agreement on Gasoline (BA-98) Exchange (EDU) ČEPRO, a.s. 4101286089 Purchase Agreement (TOLEX)

ČEPRO, a.s. 4400011154 Agreement whose Subject Consists in Consumption from Supplier Consignment, Including Costs Associated with Diesel Fuel Supplied to the Temelín and Dukovany Nuclear Power Plants

ČEZ Bohunice a.s. Agreement on Mutual Credit Facilities in Relation to the Agreement on Provision of the Real Reciprocal Multilevel Flexi Online Cash-Pooling for the Business-Linked Group of November 30, 2010, as Amended ČEZ Bohunice a.s. Agreement on Mutual Credit Facilities in Relation to the Agreement on Provision of Real Reciprocal

Multilevel Flexi Online Cash-Pooling in EUR for the Business-Linked Group of August 20, 2010, as Amended ČEZ Bohunice a.s. Agreement on Stock Subscription of July 2, 2009

ČEZ Bohunice a.s. Agreement on Provision of Services of November 3, 2009 ČEZ Bohunice a.s. Agreement on Stock Subscription of October 12, 2010

ČEZ Bohunice a.s. 5600001497 Agreement on Provision of Services of February 10, 2010, as Amended ČEZ Bohunice a.s. Agreement on Personal Data Processing of June 28, 2011

ČEZ Bohunice a.s. 5600006022 Agreement on Provision of Services

ČEZ Distribuce, a. s. 5600002176 License Agreement on the Use of the Right to Use Trademark No. 33_2011_008 of December 30, 2010 ČEZ Distribuce, a. s. Agreement on Mutual Credit Facilities in Relation to the Agreement on Provision of the Real

Reciprocal Multilevel Flexi Online Cash-Pooling for the Business-Linked Group of November 30, 2010 ČEZ Distribuce, a. s. Agreement on Mutual Credit Facilities in Relation to the Agreement on Provision of the Real Reciprocal

Multilevel Flexi Online Cash-Pooling in EUR for the Business-Linked Group of August 26, 2013 ČEZ Distribuce, a. s. 4 Agreements on Credit Facilities No. 2012/9, 2014/2, 2015/1, and 2015/6

ČEZ Distribuce, a. s. 2 Agreements on Provision of Distribution Services of December 19, 2014 and December 31, 2014, as Specified in Appendices

ČEZ Distribuce, a. s. 4101100770 General Agreement on Location Swap and Provision of Regulation During Power Supply to the Poříčí Separated Island of December 31, 2014

ČEZ Distribuce, a. s. General Agreement on the Poříčí Island Emergency Assistance of December 31, 2014

ČEZ Distribuce, a. s. 4101245122 Agreement on Provision of Regulation Services During Power Supply to the Střelná Separated Island of December 19, 2014

ČEZ Distribuce, a. s. 4101107323 Agreement on Provision of Supporting Services in Voltage and Idle Power Regulation of December 15, 2014 ČEZ Distribuce, a. s. 4101098783 Agreement on Consumption of Power from Distribution Network of ČEZ, a.s., Vítkovice Heating Plant ČEZ Distribuce, a. s. 14 Rental Agreements

ČEZ Distribuce, a. s. 4100452562 Purchase Agreement (Agreement Subject: Field Equipment Purchase (Slapy Power Plant)) ČEZ Distribuce, a. s. 4100573198 Agreement on Easement on New Investments into Distribution Network

ČEZ Distribuce, a. s. Agreement on Provision of Services in Safety and Protection of Health at Work, fire protection, environmental protection No. 33_2012_016 of February 27, 2012, as Specified in Appendices ČEZ Distribuce, a. s. 33_20100101_01 Agreement on Provision of Services (Internal Audit) No. 33_20100101_01 of February 10, 2010, as

Specified in its Appendix, of September 22, 2014 ČEZ Distribuce, a. s. 279281 Agreement on Surface Water Supply (LABE) ČEZ Distribuce, a. s. 24 Agreements on Connection to Distribution Network ČEZ Distribuce, a. s. 4400019020 Agreement on Securing Segmentation Centre Operation

ČEZ Distribuce, a. s. 33_20101122_01 Agreement on Personal Data Processing Concluded Following Agreement on Provision of Services of November 29, 2010

ČEZ Distribuce, a. s. 33_2013_001 General Agreement on Cession of Receivables in ČEZ Group No. 33_2013_001 of January 1, 2013 ČEZ Distribuce, a. s. Agreement on Joint Acting of Clients During their “Office Supplies” Contract Awarding

ČEZ Distribuce, a. s. 30023622 Confidentiality Agreement ČEZ Distribuce, a. s. 30030167 Distribution Agreement

ČEZ Distribuce, a. s. Realization Agreement on Joint Acting During Awarding Public Contract “Implementation Agreement Restoration and Repairs of HDO Control Systems”

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ČEZ Distribuce, a. s. 4100402566 Advisory Services Provided During Calculations of Line Differential Protection Settings

ČEZ Distribuce, a. s. 4100646874 Cooperation Agreement (Exchange and Sharing of Data and Information, Including Setting of Mutual Cooperation during the VaV Project)

ČEZ Distribuční služby, s.r.o. 22-4400000007 Agreement on Mutual Credit Facilities in Relation to the Agreement on Provision of the Real Reciprocal Multilevel Flexi Online Cash-Pooling for the Business-Linked Group of November 30, 2010

ČEZ Distribuční služby, s.r.o. Agreement on Mutual Credit Facilities in Relation to the Agreement on Provision of the Real Reciprocal

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