Kofola CeskoSlovensko : Report of the Supervisory Board on controlling activities 2022

A REPORT OF THE SUPERVISORY BOARD ON THE SUPERVISORY ACTIVITY

The Supervisory Board of Kofola ČeskoSlovensko a.s., a joint-stock company organized and existing pursuant to the laws of the Czech Republic, with its registered office at Nad Porubkou 2278/31a, Poruba, Ostrava, postal code 708 00, Czech Republic, Identification No. (IČ): 242 61 980 (hereinafter the "Company") hereby submits its Report on Supervisory Activities to the annual General Meeting for the period from the date of preparation of the report for the preceding period, i.e. from 29 April 2022 until the date of discussing this report, i.e. 24 May 2023 ("Report on Supervisory Activities"), by the Supervisory Board.

In compliance with the Articles of the Association of the Company, the Supervisory Board of the Company comprises of five members elected by the General Meeting. The following table states the names, positions, appointment date and term of office of the present Supervisory Board members as of the date of discussing this Report:

	Supervisory Board members		Position		Appointment Date		End of Term of Office
	René Sommer		Chairman of Supervisory		17 June 2015		5 August 2025
		Board
	Moshe Cohen-Nehemia		Supervisory Board		15 September 2015		5 August 2025
		member
	Ladislav Sekerka		Supervisory Board		28 June 2021		28 June 2026
		member
	Tomáš Jendřejek		Supervisory Board		30 November 2018		5 August 2025
		member
	Alexandros Samaras		Supervisory Board		28 June 2021		28 June 2026
		member

The Supervisory Board held four regular meetings in the period following the approval of the previous report; the meetings were held in the presence of the members as well as distantly in the form of a video transmission. The Supervisory Board also used "per rollam" decisions for the performance of its supervisory activities.

A key emphasis in the activity provided by the Supervisory Board was laid on a financial situation analysis and business activity of the Kofola Group and its principal companies, and supervision over the Board of Directors´ activity performance and matters in compliance with the Articles of Association and legal regulations. The Supervisory Board meetings were regularly participated also by members of the Board of Directors of the Company. Depending on a subject and relevance of the negotiated issue, also professionally appropriate Company employees were invited to the meetings.

Within its supervisory activity, the Supervisory Board co-acted with the internal auditor and the Company´s Audit Committee.

On the basis of the performance of its regular supervisory activities, the Supervisory Board declares that it did not discover any inadequacies in the activities of the Company's Board of Directors and states that the operating results of Kofola ČeskoSlovensko group generated in

2022 were very good. The results take into the account the situation that prevailed in 2022 not only in the Czech Republic, especially with regard to the challenging situation due to the energy crisis and the complex situation in Europe.

In 2022, even in the face of the situation, the Group's individual companies managed to successfully meet the challenges in all the countries where the Group operates and the result was virtually on a par with the years before Covid. A big thank you to all Group employees for the way the Group has performed. The Group has implemented several major projects, which were mentioned by the Chairman of the Board of Directors in his introductory speech.

The Supervisory Board reviewed the Report on Relations between related entities for 2022 prepared by the Board of Directors, did not find any inconsistencies and has no objections to its content.

The Supervisory Board reviewed the Financial Statements of Kofola ČeskoSlovensko a.s. as of 31 December 2022 and the Consolidated Financial Statements of Kofola ČeskoSlovensko Group as of 31 December 2022, including the auditor's report dated 13 April 2023 and comments of the Audit Committee dated 5 April 2023, finding neither discrepancies nor irregularities in the content of the Statements nor in a way of their construction and the audit process.

Based on the stated findings, and considering the Auditor´s opinion, the Supervisory Board recommends both Financial Statements to be approved by the General Meeting of the Company.

René Sommer

Chairman of the Supervisory Board