23 July 2012 PX Group and CEESEG Holding Basic information on PSE, PXE and CDCP.

23 July 2012

PX Group and CEESEG Holding Basic information on PSE, PXE and CDCP

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PX Group

Main activities Organizing regulated and unregulated securities markets Organizing a commodity market (electricity delivery) Maintaining securities records,

clearing and settlement of transactions in securities and electricity delivery

Czech capital market share of 98.5% In 2011, 23.4 TWh of Czech electricity was traded,

corresponding to some 37.9% of electricity consumption in the Czech Republic

Market capitalization of securities maintained in record exceeding CZK 1,000,000,000,000

Share of 99.9% in volume of trades and transfers settled on Czech capital market

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PX Group – companies

Securities market organizer

Maintaining securities register, clearing and settlement Electricity market organizer

Central Counterparty

Central Clearing Counterparty

Energy Clearing CounterpartyCounterparties for participants in concluding electricity trades

Consolidated results as at 31 Dec 2008 2009 2010 2011

Total assets (EUR m) 172.2 128.3 113.4 103.7

Revenues (EUR m) 16.8 14.4 17,2 21.3

Profit after tax (EUR m) 5.8 4.8 4.1 6.5

Dividend payment (EUR) 35.65 16.85 16.92 16.32

PSE

CSDP PXE

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CEE Stock Exchange Group (CEESEG)

42% of total market capitalization of all exchanges in the region**

48% of equity trading volume in the region**

Internet: www.ceeseg.com

100% 92.74% 100 % 50.45%

Prague Stock Exchange

Czech Republic

Ljubljana Stock Exchange

Slovenia

Budapest Stock Exchange

Hungary

11.90%46.67%

Holding CEE Stock Exchange Group*

KE

LE

R C

CP

74.5%

KE

LE

R

Vienna Stock Exchange

Austria

CC

P.A

AP

CS

EX

AA

25.12%100% 100%

CC

P

En

erg

y C

lear

ing

C

ou

nte

rpar

ty

PX

E

33.33% 100%C

CC

10% 50%100%

33.33% 33.33%

CS

D P

rag

ue

CIS

MO

CE

GH

20% 5%

* Ownership Structure of CEESEG AG: 52.59% Austrian Banks, 47.41% issuers of the Vienna Stock Exchange**Czech Republic, Austria, Hungary, Slovenia, Slovakia, Poland, Romania, Bulgaria, Croatia, Serbia, Bosnia and Herzegovina, Montenegro

CEESEGData vending, indicesIndices cooperationMoU

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Prague Stock Exchange

Re-established in 1993

Member of the PX Group holding

Member of the CEE Stock Exchange Group (CEESEG)

Member of the Federation of European Securities Exchanges

U.S. SEC “Designated Offshore Securities Market”

Market capitalization in 2011: CZK 371 bn* Volume of equity trades in 2011: CZK 1,061 bn** Czech capital market share of 98.5% Regulated and non-regulated markets, derivative market Leader in the Central and East European Region Internet: www.pse.cz

* Total domestic and foreign issues** All PSE values are “single counted” (i.e. individual transactions are counted into the volume only once, not as purchase + sale). Some exchanges still publish “double-counted” values.

0200,000400,000600,000800,000

1,000,0001,200,0001,400,0001,600,0001,800,0002,000,000

2007 2008 2009 2010 2011

Number of trades:

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POWER EXCHANGE CENTRAL EUROPE

Established in 2007

Member of the PX Group holding

Member of the CEE Stock Exchange Group (CEESEG)

Volume of trades in 2011: 24.4 TWh Market in physical electricity futures with place of

delivery in the Czech Republic, Slovakia and Hungary Market in financial electricity futures with place of

delivery in the Czech Republic Access to the OTE/PXE spot market

for Czech electricity Anonymous trading system with standardized

products and guaranteed settlement Internet: www.pxe.cz

Number of participants at PXE:

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0

10,000,000,000

20,000,000,000

30,000,000,000

40,000,000,000

50,000,000,000

60,000,000,000

70,000,000,000

80,000,000,000

20

05

20

06

20

07

20

08

20

09

20

10

20

11

Central Securities Depository Prague

Activity since 1993

Member of the PX Group holding

Member of the CEE Stock Exchange Group (CEESEG)

Member of the European Central Securities Depositories Association (ECSDA)

Volume of cleared trades and transactionsfor 2011: CZK 3,580.3 bn

Clearing and settlement system for securities tradesand trades concluded at PXE

Maintaining records on dematerialized securities Risk management Assigning ISIN Internet: www.cdcp.cz

Cleared automatic trades (CZK):

27 June 2012

Prague Stock Exchange

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Recent history

1992 █ PSE established – 12 banks and 5 brokerage companies

1993 █ The Exchange reopened

1993 █ First wave of Coupon Privatization – 955 issues

1995 █ Second wave of Coupon Privatization – 674 issues

1997 █ 1,301 issues withdrawn from trading

2004 █ FESE membership and first IPO – Zentiva

2007 █ PXE – Power Exchange Central Europe (Prague Energy Exchange)

2008 █ Vienna Stock Exchange becomes majority shareholder

2010 █ Activity of the Central Securities Depository Prague established

2010 █ PSE a part of the CEESEG holding company

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Shareholders and members

A private joint-stock company operating according to the membership principle Main shareholder is CEESEG AG (92.74%)

Trading is conducted via licensed securities dealers that are also members of the Exchange

The Exchange currently has 19 experienced members:

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Institutional investors Regional distribution:

Small investors – strong retail Their number is growing gradually – from 5,000 in 2004 to today’s 100,000 Traded equity volume is some CZK 20 bn per year “Small” investors in case of PSE are rather “high net worth individuals”, as

volumes per investor are considerably larger than in some other exchanges in the region

Interest in IPOs: in case of NWR, a considerable part of the issue was placed among small domestic investors

Several rapidly growing online brokers operate on the market

Investors

(December 2011, Source: Ipreo)

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Trading models

Automated processing of instructions - electronic exchange Own business platform - flexibility in development and implementation of new products Preparation of the Xetra© platform - well-known and used by many exchanges

SPAD - Quote driven The purchase and sale prices are continually quoted by the market makers Trading with blue chips Vast majority of blue chips has more than 1 market maker (5 to 10) High liquidity - PSE has one of the highest turnover velocity among the CEE

markets Low volatility - experienced market makers are crucial Trading in lots Attracting and keeping liquidity in case of dual listings

Automatic Trades (opening and closing auction, continual regime) - Order driven Trading in the auction regime is based on collecting buy and sell orders for

investment instruments for a fixed time point The continual regime enables conclusion of transactions based on continually sent

buy and sell orders for investment instruments

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Exchange markets

Regulated market Non-regulated market

Main Market Free Market START

Securities must conform to conditions stipulated by the Act on Capital Market Undertakings and Exchange Rules

Conditions for admission Market capitalization

of issue at least EUR 1,000,000

Proportion of issue distributed among the public at least 25%

Business activities for at least 3 years

On this market, the Exchange imposes stricter requirements on issues and their issuers than defined by the generally binding legislation concerning the capital market

Securities admitted to this market need only conform to conditions established by the Exchange

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Indices

PX index Official price index of blue chip PSE equity issues, calculated every 15

seconds CTX, CEESEG and CEETX indices

Indices of Vienna Stock Exchange plus those equities listed on PSE

European indices – annual change (2011) PX index – historical development

WIG 20-21.9%

SBI TOP-30.7%

SMI-7.8%

DAX-14.7%

AEX-11.9%

IBEX 35-13.1%

BET-17.7%

OMX N40-18.6%

FTSE 100-5.5%

BUX-20.4%

PX-25.6%

ATX-34.9%

Source: FESE

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Statistical data  2007 2008 2009 2010 2011

Number of trading days 250 252 250 252 253

EQUITIES

Total traded volume (CZK bn) 1,013.019 852.042 463.859 389.867 370.986

- Automatic trades 36.715 46.431 62.302 71.331 76.059

- SPAD 958.891 795.333 399.124 315.172 292.257

- Block trades 17.412 10.278 2.433 3.365 2.670

Average total daily volume (CZK mn) 4,052.1 3,381.1 1,855.4 1,547.1 1,466.3

Market capitalization (CZK bn) 1,841.7 1,091.7 1,293.5 1,388.0 1,060.8

PX index (end of year) 1,815.1 858.2 1,117.3 1,224.8 911.1

Number of issues (end of year) 32 28 25 27 26

BONDS

Total traded volume (CZK bn) 508.858 643.151 585.712 529.908 628.022

- State bonds 433.280 616.554 555.196 510.495 605.867

- Municipal bonds 0.748 0.195 0.033 0.699 0.551

- Corporate bonds 8.118 5.156 14.348 6.044 3.817

- Bank bonds 9.931 9.701 7.376 8.242 9.269

- Mortgage bonds 56.781 11.545 8.759 4.428 8.520

Number of issues (year end) 132 121 116 106 95

OTHER PRODUCTS

Structured products (total volume, CZK mn) 1,229.477 469.053 261.071 170.173 133.938

(number of products) 41 49 67 44 81

Futures (traded volume, CZK mn) 1,879.861 688.865 201.555 189.654 194.286

(number of series) 6 6 6 6 6