CEZ WIND PARK IN ROMANIA Energie verde, Bucharest, ROMANIA November 29 th, 2010 ADRIAN BOROTEA CORPORATE AFFAIRS DIRECTOR - CEZ ROMANIA

Date: Version: Presented CEZ GROUP IS STABLE INTERNATIONAL UTILITY ACTIVE IN MORE THAN 10 COUNTRIES OF CSEE 1

Date: Version: Presented Timisoa ra Ara d Orade a Satu Mare Alba lulia Bistrit a Tîrgu Jiu Dev a Drobet a- Turnu Severi n Suceav a Botosa ni Ias i Vaslu i Sibi u Zala u Miercur ea Ciuc Rîmnic u Vîlcea Braso v Pites ti Sfîntu Gheorg he Slatin a Focsa ni Galat i Buza u Ploies ti Slobozi a Calara si Giurgi u Alexandr ia Brail a Tirgovist e Tulce a Tîrgu Mures Piatra Neamt Baca u Resit a Baia Mare Cluj- Napoca Constan ta Craiov a Bucures ti Sales and distribution services CEZ GROUP IN ROMANIA Sales services Fantanele & Cogealac wind farms  Fantanele and Cogealac Wind Park will be together the largest onshore wind park in Europe  The total capacity: 600 megawatts  Total investment of CEZ Group into the project will reach € 1.1 billion 2

Date: Version: Presented Law no.139/  It updates law 220/2008, incentivizing more such investments and answering to EC questions on notification  Some “clean” producers receive for each 1 MWh produced more than 1 GC: 2 GCs for wind energy for the electricity generated until 2017 and 1 GC starting 2018, 3 GCs for new hydro, 2 GCs for rehabilitated hydro and 6 GCs for solar energy  Supporting scheme applicable for units to be commissioned/rehabilitated until end of 2016: 15 yrs to new units, 10 yrs for rehabilitated hydro units below 10 MW, 7 yrs for second hand units and 3 yrs for non- rehabilitated hydro below 10 MW)  GC may be traded within price limits: from 27 EURO/CV to 55 EURO/CV in 2010; starting 2011 (until 2025), limits will be inflated with EU27 inflation index; after 2025, minimum value cannot be lower than 2025 one  If suppliers will not achieve mandatory quota at end year, they will pay 110 EURO/CV (inflated starting 2011 by EU27 index) to TSO who will allocate the amounts to residentials who will invest into renewable sources below 100 kW  New quota values to be supported until 2020 are: ,26%6,28%8,30%10%12%14%15%16%17%18%19%19,5%20%

Date: Version: Presented 1,413 6,414 7,000 Water 6,377 7,278 6,352 Wind MW/ Fuel 6,000 8, ,413 5,110 7,374 5,089 1,413 7,472 2,000 3,000 5,000 4,000 Coal Hydro-carbons Nuclear 5,036 1,000 FANTANELE WIND PARK MULTIPLIED INSTALLED WIND CAPACITY IN ROMANIA BY 25 TIMES Overview of the installed capacity and annual electricity production Installed capacityAnnual Electricity Production ,000 28,000 GWh 17,105 15,916 Nuclear 17,105 7,708 5,616 Hydro-carbons 8,902 11,054 11,509 CoalWind 20,000 16,000 Water 0 27,531 26,711 26,975 4,000 8,000 18,327 12, Source: CEZ research

Date: Version: Presented 5 MONTHLY EVOLUTION OF TRADED GC AND THEIR PRICES Source: OPCOM

Date: Version: Presented 6 CVTotalEolianHidroBiomasa ianuarie februarie martie aprilie mai iunie iulie august Sept GREEN CERTIFICATES ISSUES IN 2010

Date: Version: Presented  Two wind farms projects in Dobrogea county, between villages of Fantanele and Cogealac (north of Constanta, 17 km west of the Black Sea coast);  Total projected size: 240 WTGs (1) of 2.5MW– installed capacity of 600MW;  The project will be the largest onshore wind farm in Europe;  Once wind farms are operational, CEZ will have 10 % share on the Romanian market with renewable energy, including big hydro. WIND FARMS PROJECT IN FANTANELE AND COGEALAC WILL BE THE LARGEST ON-SHORE WIND FARM BUILT IN EUROPE Basic information about wind farms CEZ project Both wind farms  1 st phase of the project – 139 wind turbines;  Construction has started in October 2008  Currently, we have erected 120 WTGs, build 100 km of roads, laid more than 140 km of cables 33 kV and 110 kV  4 Transformer Substations 110 / 33 kV  One Transformer Substation 400 / 110 kV, connected to Transmission Grid Fantanele Project Cogealac Project  2 nd phase of the project – 101 wind turbines;  To be finished in 2012;  Signed contract for with GE for supply of 101 WTGs (same as for Fantanele project)  more than 130 km of cables 33 kV and 110 kV  4 Transformer Substations 110 / 33 kV Note: (1) WTG – Wind Turbine Generator Source: CEZ 7

Date: Version: Presented FANTANELE & COGEALAC PROJECT IS DESIGNED TO PROVIDE 600 MW CAPACITY OF THE ECOLOGICAL ENERGY Overview of the key technical parameters of Fantanele & Cogealac project Technical parameterDescription Total generation capacity 600 MW Wind turbine generators composition 240 generators (generation capacity 2.5 MW each) – 100m hub height, 99m rotor diameter Energy transformation Generators are connected to seven 33 kV/110kV substations, which deliver on 110kV level to the Main Transformer Station which connects the Fantanele wind farm on the 400kV grid line Constanta -Tulcea operated by Transelectrica. Selected technical information on Wind Turbine Generators (WTG) Producer: General Electric Maximum speed: 73.6 m/s Blades material: fiber glass – epoxy resin/polyester Cut-in wind speed: 3 m/s Cut-out wind speed: 25 m/s Rated power output: 2.5 MW Tower: tubular steel, 100m Source: CEZ; General Electric 8

Date: Version: Presented CEZ IS KEEPING A CONSISTENT PUBLIC FRIENDLY POLICY TO THE COMMUNITIES Selected public related activities of CEZ  Long-term partner for the communities  Acknowledging its role and supporting their development Partnership with communities  CEZ is currently building its relationship and involvement as partner, discussions with both the authorities and citizens  The village's infrastructure and facilities for the people are just some of the focus subjects  Dedicated to improving the quality of life in the community Supporting the local infrastructure projects  Creating jobs for local citizens  Choosing local companies as partners (Eraos, Fantanele – construction works)  Supporting commerce (economical development) of the area Sub-constructing work to local companies 9

Date: Version: Presented 10 SUMMARY OF WIND PROJECT 10  Useful Life of wind farm - 25 years  Efficiency of Wind Turbines comparable with the most efficient Wind Farms  Positive trends in develpment of prices of energy and green certificates refflecting also inflation  2 Green certififcates till 2017  1 Green certificate for  Repairs and maintenance costs comparable with European standards  Start of full operation of Fantanele part in 10/2010  Only 12 full time employees  Positive legal environment supporting investments into green technologies KEY ASSUMPTIONS USED IN PROJECT 1

Date: Version: Presented CEZ TRADE responsible for ELECTRICITY OFF-TAKE, IMBALANCES and BROKER FOR GREEN CERTIFICATES MARKET TOMIS TEAM MW INVEST ČEZ, a.s. Trading OTC market DAM MWh Balancing Market Power plant CEZ Trading team Advisory and/or brokerage Mutual delivery agreements Green certificates CEZ Vanzare Other suppliers – OTC OPCOM Managment of agreements, deliveries Trading model – green certificates 11

Date: Version: Presented Pouring of blinding concreteMounting of ring for foundation Pouring of blinding concrete Construction of adapter ring and steel installation PICTURES FROM THE SITE (1) 12

Date: Version: Presented Installation of cablesInstallation of adaptor ring PICTURES FROM THE SITE (2) 13

Date: Version: Presented Installation of first WTG (FE8) PICTURES FROM THE SITE (3) 14

Date: Version: Presented Installation of blades PICTURES FROM THE SITE (4) 15

Date: Version: Presented PICTURES FROM THE SITE (5) 16 MTS 400kV side

Date: Version: Presented PICTURES FROM THE SITE (6) 17

Date: Version: Presented PICTURES FROM THE SITE (7) 18

Thank you very much for your kind attention!