CEZ a s : Articles of Association of ČEZ, a. s., Effective From June 30, 2022

Articles of Association of ČEZ, a. s.

In the wording of amendments adopted by the Company's General Meeting held on

June 28 and 29, 2022 and effective from June 30, 2022

I. PRINCIPAL PROVISIONS

Article 1

Corporate Name, Registered Office and Internet Website of

the Company

1. The company's corporate name is ČEZ, a. s. (hereinafter as the "company").
2. The company's registered office is at Prague 4, Duhová 2/1444, 140 53.
3. The company's internet website is available at www.cez.cz.

Article 2

Scope of Business

1. The scope of the company's business is as follows:

1. power generation;
2. power trading;
3. thermal energy generation;
4. thermal energy distribution;
5. gas trading;
6. production, business and services not stated in annexes 1 to 3 of the Trade Licensing Act, specifically:
7. 1. Provision of services for agriculture, horticulture, fishing, forestry and hunting;
   2. Professional forest management and production of forest management plans and outlines;
   3. Publishing, printing, binding and copying;
   4. Manufacture of building materials, porcelain, ceramic and plaster products;
   5. Manufacture of measuring, testing, navigation, optical and photographic instruments and equipment;
   6. Manufacture of electronic components, electrical equipment, and the manufacture and repair of electrical machinery, appliances and electronic equipment powered by low voltage;
   7. Manufacture, repair and maintenance of sport products, games, toys and prams and pushchairs;
   8. Operation of water supply and wastewater services, and water treatment and distribution;
   9. Waste management (except hazardous waste);
   10. Preparatory and finishing work, specialized construction activities;
   11. Intermediation in trade and services;

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1. 1. Wholesale and retail trade;
   2. Maintenance of motor vehicles and accessories;
   3. Storage, packaging of goods, cargo handling and technical activities in transport;
   4. Forwarding and representation in customs procedure;
   5. Accommodation services;
   6. Provision of software, information technology consulting, data processing, hosting and related activities and web portals;
   7. Real estate services, facility management and maintenance;
   8. Leasing and loaning of movables;
   9. Guidance and consulting activities, production of expert studies and opinions;
   10. Preparation and production of technical designs, graphic and drawing work;
   11. Design of electrical equipment;
   12. Research and development in the field of natural and technical sciences or social sciences;
   13. Testing, measurement, analysis and inspections;
   14. Administrative services and services of an organizational and economic nature;
   15. Extra-curriculareducation, organization of courses, training, including instructor services;
   16. Operation of cultural, educational and entertainment facilities, organization of cultural productions, events, exhibitions, fairs, festivals, sales and similar events;
   17. Provision of technical services;
   18. Repair and maintenance of household goods, items of a cultural nature, precision equipment, optical equipment and measuring devices;
   19. Provision of services for legal entities and trusts;
2. production, installation and repairs of electrical machinery and devices, electronic and telecommunication equipment;
3. electrical equipment installation, repairs, reviews, and testing;
4. pressure equipment and gas vessels installation, repairs, reviews, and testing;
5. hazardous waste management business;
6. machining;
7. plumbing, heating;
8. insulation installations;
9. catering;

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1. production of hazardous chemicals and hazardous chemical mixtures and sale of chemicals and chemical mixtures classified as very toxic and toxic;
2. psychological advisory services and diagnostics;
3. services in the area of occupational health and safety and health;
4. technical-organizationalactivities in the area of fire protection;
5. acting as accountants, bookkeeping, tax recordkeeping;
6. provision of technical services to protect property and individuals;
7. security of property and individuals;
8. lifting equipment installation, repairs, reviews, and testing;
9. locksmithing, toolmaking;
10. registry keeping;
11. construction, alteration and removal of buildings;
12. production and processing of fuels and lubricants and distribution of fuels;

1. road motor transport - passenger transport operated by vehicles designed to carry not more than 9 persons including the driver;
2. real estate intermediation;
3. installation, repair, inspection and testing of gas equipment and the filling of vessels with gas; and
4. property, flat and non-residential premises rental.

2. Another scope of business of the company is the management of its own assets.

Article 3

Registered Capital of the Company

1. The company's registered capital amounts to CZK 53,798,975,900 (in words: fifty- three billion seven hundred and ninety-eight million nine hundred seventy-five thousand and nine hundred Czech crowns).

Article 4

Company Shares

1. The company's registered capital is divided into 537,989,759 shares (in words: five hundred thirty-seven million nine hundred eighty-nine thousand seven hundred and fifty-nine shares), each with a nominal value of CZK 100 (in words: one hundred Czech crowns). All the shares are issued as book-entered shares.
2. All company shares are bearer shares. All company shares have been admitted for trading on the European regulated market.

3. Company shares may be acquired by company employees subject to the supervisory board's consent and the conditions listed in Section 258(2) of the Business Corporations Act, with the company employees not being required to

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pay the full issue price of the shares subscribed for or the full price for which the company purchased the shares for the employees, if the difference is covered out of the company's own funds. The aggregate of the portions of the issue price or purchase price of all shares not being paid for by employees may not exceed 5 % of the registered capital at the time of the decision on the subscription of shares by employees or sale of the shares thereto.

Article 5

Issue of Bonds

1. Pursuant to the general meeting's decision, the company may issue bonds with the attached right to exchange the same for the company's stocks (convertible bonds) or with the attached preferable right to subscription of shares (priority bonds). The

issue of such bonds is subject to the company's concurrent decision on a conditional increase in the registered capital, unless, where convertible bonds are involved, it is subject to conversion for company shares that have already been issued.

II. COMPANY'S BODIES

Article 6

Structure of Company's Bodies

1. The company has a two-tier internal structure.
2. The company has the following bodies:
3. 1. general meeting;
   2. board of directors;
   3. supervisory board;
   4. audit committee.
   5. 1. GENERAL MEETING

Article 7

Status and Dates of the General Meeting, Shareholder Per Rollam

Decisions

1. The general meeting is the company's supreme body.
2. The general meeting is held at least once per accounting period, at all times within six months following the last day of the previous accounting period.

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