CEZ will hold its Annual General Meeting on Monday, June 1, 2026, starting at 9:00 a.m. In addition to the standard agenda items (e.g., personnel matters), investors will be particularly interested in two agenda items. The first is the traditional approval of a dividend of CZK42 per share. The second is the optimization of CEZ’s ownership structure. This involves spinning off non-production activities into a separate company that will be 100% controlled by CEZ. Since the state holds nearly 70% of all CEZ shares, which usually corresponds to about 90% of shareholders present at the General Meeting, we expect both items to be approved.