O2 Czech Republic : Half-Year Report 2017 (31 August 2017)

O2 Czech Republic a.s. | 2017 Half-year Report | Translation from the Czech original1

HALF-YEAR REPORT

2017

This version of the Half-Year Report is a translation from the original which was prepared in the Czech language. All possible care has been taken to ensure that the translation is an accurate representation of the original. However, in all matters of interpretation of information, views or opinions, the Czech version of the Half-Year Report takes precedence over this translation.

O2 Czech Republic a.s. hereinafter "O2 CZ" or the "Company". O2 Slovakia, s.r.o. hereinafter "O2 Slovakia".

O2 IT Services s.r.o. hereinafter "O2 IT Services".

The O2 Czech Republic Group comprises the company O2 Czech Republic a.s., its subsidiary companies involved in the concern, other subsidiary companies and companies in which O2 Czech Republic a.s. has an ownership interest, and is hereinafter referred to as the "O2 Group".

Financial data and information listed in this Half-year Report has not been audited.

Content

Foreword by the Chairman of the Board of Directors 5

1. | Calendar of key events 8

2. | Financial and operating highlights 10

3. | Review of the business 12

4. | Developments in corporate governance of the O2 Group 28

5. | Financial part 31

6. | Declaration of persons responsible for the Half-year Report 57

O2 Czech Republic a.s. | 2017 Half-year Report | Translation from the Czech original4

Foreword by the Chairman

of the Board of Directors