O2 Czech Republic : The Board of Directors of O2 Czech Republic decided to execute the second share buy-back program (13 December 2017)

Inside information

The Board of Directors of O2 Czech Republic decided to execute the second share buy-back program

December 13, 2017

On December 8, 2015, the General Meeting of O2 Czech Republic ("the Company") adopted a resolution on acquisition of the Company's own shares (share buy-back), based on which the Company can purchase its own shares of up to 10% of the total number of shares or up to CZK 8 billion for a price ranging from CZK 10 to CZK 297 in the next five years (hereinafter "The General Meeting Resolution").

Bases on the above mentioned, on December 23, 2015, the Board of Directors decided to execute share buy-back program on the European regulated market (hereinafter "Program") - seenotice dated on December 23, 2015 on company's web page.

The Company intends to continuously build on the current ending two-years Program approved on December 23, 2015. The Company's intention is to continue with the acquisition of own shares based on the General Meeting Resolution. The acquisition shall be realized on the European regulated market based on the share buy-back program through a broker (while the possibility to decide on acquisition of additional shares within the limits set by the General Meeting Resolution according to additional specific program in the future remains unaffected).

Bases on the above mentioned, on December 13, 2017, the Board of Directors decided to execute share buy-back program on the European regulated market (hereinafter "New Program"), under the following conditions:

• a) The aim of the New Program is the capital structure optimization of the Company;

• b) The maximum acquisition price of the acquired shares in the New Program will not exceed the lower of the following amounts: the maximum price set in accordance with Art. 5 Para 1 of EC Commission Regulation (EC) No. 2273/2003 and the maximum price for which the Company may acquire individual shares based on the General Meeting Resolution (CZK 297);

• c) The minimum price of acquired shares in the New Program will not exceed the minimum price for which the Company may acquire individual shares based on the General Meeting Resolution (CZK 10);

• d) The amount of acquired shares in the New Program in one day will not exceed one fourth of the average daily volume of the Company's shares traded on the European regulated market in November 2017, i.e. in the previous month prior the month in which the New Program conditions have been published;

• e) Within the New Program, the Company will acquire a maximum of shares, so the total number of own shares acquired cumulatively in the Program and the New Program will not exceed 4% of total Company's ordinary shares;

• f) The duration of the New Program is maximum two years or up to the shares amount stated in item e) above.

The Company intends again to engage WOOD & Company Financial Services, a.s., a brokerage house to execute this New Program.

As of December 8, 2017, the Company acquired in total 8,519,904 own shares for the total acquisition price of CZK 2,154 million and its share in all the voting rights reached 2.75% under the Art. 122, Para 1 of the Act on Business Activities on Capital Market.

O2 Czech Republic a.s.

Contacts Investor Relations

O2 Czech Republic a.s.investor_relations@o2.cz t +420 271 462 076

About O2 Czech Republic

O2 is the largest integrated telecommunications provider in the Czech market. At present we operate close to eight million mobile and fixed accesses, which ranks us among the market leaders in fully converged services in Europe. To users of mobile services in the Czech Republic we offer state-of-the-art HSPA+ and LTE technology. We have the most comprehensive proposition of voice and data services in the Czech Republic, and we actively exploit the growth potential of the various business lines, especially ICT. Our data centres, with total floor area of 7,300 square metres, rank us among the leaders in hosting, cloud and managed services. O2 data centres belong to the few commercial ones in Central Europe to have TIER III certification. With our O2 TV we are also the largest IPTV service provider in the Czech Republic. In January 2014, O2 became a member of the Czech investment group PPF.