CEZ, a.s.: CEZ fixed the price of its inaugural sustainability-linked notes

CEZ fixed the price of its inaugural sustainability-linked notes

Prague, March 30, 2022 – CEZ, a. s. (Baa1/A-) emphasizes the
implementation of global climate goals

and the environmental impact of its business in general. In line with
this strategy, its first EUR 600 million

2,375% sustainability-linked notes due 2027 based on recently
established Sustainability-Linked

Financing Framework, that confirms CEZ Group’s commitment to decrease
the emission intensity by

reducing coal exposure and enhancing renewable sources, have been
successfully introduced on capital

markets.

In case CEZ does not meet its GHG Emission Intensity target of 0.26
tCO2e/MWh by 31st December

2025, this will result in a 0,75% step up in coupon paid at maturity in
2027.

The deal was priced at a spread of 135 basis points above the reference
mid-swap rate with a resulting

issue price of 99,595%. The expected issue date is April 6, 2022. The
sustainability-linked notes will be

issued under the established Euro Medium Term Note Programme. Citigroup
Global Markets Europe and

Deutsche Bank accepted the role of sustainability structuring advisors.
Barclays Bank Ireland, Citigroup

Global Markets Europe, Deutsche Bank, Erste Group Bank, and SMBC Nikko
Capital Markets Europe act

as joint lead managers. Raiffeisen Bank International acts as a co-lead
manager.

This is the first ever issue of sustainability-linked notes issued by an
IG utility company in CEE.

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