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

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

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

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

  2. 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 • Czech capital market share of 99.5% • In 2012, 19,8TWh of Czech electricity was traded, corresponding to some 31.46%of electricity consumption in the Czech Republic • Market capitalization of securities maintained in record exceeding CZK1,000,000,000,000 • Share of 99.9% in volume of trades and transfers settled on Czech capital market

  3. PX Group – companies Securities market organizer PSE Maintaining securities register, clearing and settlement CSDP Electricity market organizer PXE Counterparties for participants in concluding electricity trades EnCC

  4. 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 CEESEG Data vending, indices Indices cooperation MoU Holding CEE Stock Exchange Group* 50.45% 100 % 92.74% 100% Budapest Stock Exchange Hungary Ljubljana Stock Exchange Slovenia Prague Stock Exchange Czech Republic Vienna Stock Exchange Austria * 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 46.67% 1,07% 20% 100% 100% 50% 25.12% 10% 5% 33.33% KELER KELER CCP CCP.A EXAA CEGH APCS CSD Prague CISMO Energy Clearing Counterparty 97,72% PXE 33.33% 33.33%

  5. CEE Stock Exchange Group – a comparisonofmarketcapitalization * Bulgarian SE, Bratislava SE, Montenegro SE, Belgrade SE, Sarajevo SE, Banja Luka SE, Macedonia SE January 2014, Source: FESE, FEAS, local stock exchange

  6. CEE Stock Exchange Group – a comparisonofequityturnover * Bukarest SE, Bulgarian SE, Zagreb SE, Belgrade SE, Macedonia SE, Banja Luka SE, Bratislava SE, Sarajevo SE, Montenegro SE January 2014 YTD, Source: FESE, FEAS, local stock exchange

  7. CEE Stock Exchange Group –institucionalinvestors *Amongothers, Canada, Slovenia, Hungary, Sweden, Czech Republic 2013, Source: Ipreo

  8. CEE Stock Exchange Group – The LargestIssuers January 2014 Source: Vienna Stock Exchange

  9. CEE Stock Exchange Group – SectorAllocation * Multi-Utilities, Packaging, Food, Beverage & Tobacco, Construction Materials, Chemicals, Electrical Equipment, Tourism & Travel, Media, Retailing, Leisure & Gambling, Personal Products, Household Products & Furniture, Automobiles & Parts, Other Industrial Services, Other Industrial Goods, Software & IT Services January 2014, Source: Vienna Stock Exchange

  10. CEE Stock Exchange Group – Trading Members • 168 financialinstitutionsparticipate in trading on thememberexchangesof CEESEG. • The followingareactive on twoormoremarkets: January 2014Source: Member Exchangesof CEESEG

  11. Stock Exchange Group – Trading volumesbymembers (2014 YTD) CEE Regulated & unregulatedmarkets; domestic & foreignturnoverJanuary 2014Source: Member ExchangesofCEESEG

  12. Prague Stock Exchange

  13. 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 2013: € 39,8bn* • Trade value - shares 2013: €6,7 bn** • Czech capital market share of 98,4% • Leader in the Central and East European Region • Internet: www.pse.cz * Domestic and foreign issues together ** All PSE’s numbers are “single counted” Number of trades (shares):

  14. History 1409 █ Brugges – first organized market (van den Boerse) 1462 █Exchange in France – Lyon 1698 █Exchange in England – London 1771 █Exchange in Austria – Vienna 1792 █ Exchange in USA – New York 1864 █Exchange in Hungary – Budapest 1871 █ Commodity and Stock Exchange in Prague 1920–39 █ Period of the Exchange’s prosperity 1939 █Nazi occupation 1948 █Decree of the Ministry of Finance of the Czechoslovak Republic dissolving the Exchange

  15. 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 EnergyExchange) 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

  16. Members • The Exchange currently has 18experienced members: Domestic: Remote: Membershipprocedure: DB Securities 16|

  17. Tradingsystem and connection • TradingsystemXetra Prague • Access point concept – 3 possibilitiesfor PSE members Praha 17|

  18. Investors • 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 NV, a considerable part of the issue was placed among small domestic investors • Several rapidly growing online brokers operate on the market (December2013, Source: Ipreo)

  19. Public relations • PSE endeavours to develop the Czech capital market and supports discussions related to the capital market. • Television programme “Studio Exchange” • In cooperation with the public Czech Television • Since 22 January 2008, directly from PSE’s premises • News from the capital markets seven times daily • On channels ČT24, ČT1 and on Czech TV’s website (www.ceskatelevize.cz) • Dissemination of exchange information • Continuous and free-of-charge information stream with 15-minute time lag on PSE’s website • Final trading results and selected statistical data available free of charge • Expert users may obtain exchange information in real time (online) and receive trading results after the daily close of trading (off-line)

  20. POWER EXCHANGECENTRAL EUROPE

  21. Productswithphysicaldelivery Electricity Natural gas Delivery period: Base Load Base Load – alldays06:00 - 06:00 Czech Republic 3 following months 4 following quarters 3 seasons (winter / summer) 2following years Czech market with natural gasfuturesisorganizedin co-operationwith • Delivery period: Base Load andPeak Load Base Load – alldays0:00 - 24:00 Peak Load – Monday to Friday8:00 - 20:00 Czech Republic • SPOT • Access to the day hourly auction OTE/PXE using the PXE system • Physical delivery arising from a position in financial futures Slovakia and Hungary • 6 following months • 4 following quarters • 3 following years

  22. Market participants • 1 trading location • 3 markets • 43 participants • Contract with PXE allows trading at PXE • Contract with a clearing bank

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