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PPF Group is an international investment group founded in the Czech 
Republic in 1991. It has grown to manage operations in 25 countries around the world.

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PPF Group

Under the Terms of Use of these websites, it is forbidden to use the photographs contained in the Annual Reports posted on the aforementioned websites for any purposes other than for exclusively personal and non-commercial use, to copy, reproduce, edit, modify, rearrange or otherwise tamper with the photographs contained in the Annual Reports, or to disseminate any such photographs treated in this way. You may display the content of the Annual Reports, including photographs, on a&nbsp;computer, tablet, or mobile telephone screen, print individual pages on paper (but not photocopy them), and store such pages in electronic form on a&nbsp;disk or on your mobile telephone (but not on any server or other networked storage device) for your personal, non-commercial use only.

Annual Reports Agreement

PPF a.s., with its registered office in Prague 6, Evropsk&aacute; 2690/17, postal code 16041, Czech Republic, entered in the Commercial Register kept by the Municipal Court in Prague, Section B, Insert 4495, IČ: 25099345 (hereinafter referred to as the &ldquo;PPF Company&rdquo;), offers download on the website <a href="//www.ppf.eu">www.ppf.eu</a> (hereinafter referred to as the "website") official photos that are intended for download by PPF (such photos hereinafter referred to as "Photos").
Photographs, as well as all other material placed on any part of the website (including text, website design, graphics, all images on this website, as well as the selection and arrangement of files contained on this website) - hereinafter "content", are subject to protection pursuant to Act No. 121/2000 Coll., on Copyright, on Rights Related to Copyright and on Amendments to Certain Acts (Copyright Act), as amended (hereinafter referred to as the &ldquo;Copyright Act&rdquo;). Only PPF is entitled to exercise proprietary copyrights to the Photos and content, as well as to the website.
If you are interested in downloading and using some of the Photos, you must always accept the license agreements listed below. It is expressly stated that you acknowledge that you are not authorized to download and use any Photograph without accepting these license agreements.
License Agreement
The photo is provided for download and use under the conditions set forth in these license agreements. PPF grants you the right to download and use the Photo only if you unconditionally accept the license agreement set forth in this section. Unless otherwise agreed between you and PPF, any use of the Photograph that is not in accordance with these license agreements is prohibited.
By accepting these license agreements, you acquire a free, non-exclusive, non-transferable, territorially and time-limited license to download and view the Photos on your computer, tablet or mobile phone and print them on paper (but not to make copies). Unless otherwise stated or agreed below, you are entitled to use the Photos only for your own personal purposes.
Unless otherwise stated or agreed below, it is excluded and prohibited to copy (make copies), reproduce, modify, change, transform or otherwise interfere with the Photographs and further reproduce the Photographs concerned. Furthermore, it is forbidden to hand over, sell or otherwise provide the Photographs for use to another person (including the granting of a license or sublicense) or to make the Photographs available to another person in any way.
You further exclude and by accepting these license agreements you agree not to:
<ul>
 <li>Use the photographs in such a way that the persons depicted can give the public the impression that they support or promote political, religious, economic or other ideological movements, parties and other groups or political, religious, economic or other currents of thought (including and their display on promotional materials, including billboards);</li>
 <li>Use and edit photographs in such a way that the persons shown on them may give the public the impression that they are promoting erotic or sexual services, sexual health products or the promotion of sexual desire and libido;</li>
 <li>Use and edit the photographs so that the persons depicted on them may give the public the impression that the persons depicted on them promote drugs, alcohol (of any kind) and / or cigarettes;</li>
 <li>Use photographs for advertising purposes of any kind;</li>
 <li>Use photographs for the purpose of publication on billboards;</li>
 <li>Take photos by placing them on gift items;</li>
 <li>Use photographs as part of business communications;</li>
 <li>Use the photographs in such a way that the persons depicted on them may give the public the impression that those persons purchase, use or promote any goods or services;</li>
 <li>Use the Photographs in a manner that may give rise to reasonable doubt that such use could infringe or otherwise disparage the personal rights of the persons depicted in the Photographs.</li>
</ul>
If you have any doubts as to whether you are entitled to use the Photograph, taking into account the restriction mentioned above under the last indent, you undertake to seek the opinion of PPF before using the Photograph itself.
If you are interested in using the Photograph in a manner or to the extent beyond the scope of these license agreements, please contact PPF, specifically contact PPF at the e-mail address <a href="mailto:images@ppf.cz">images@ppf.cz</a>. In the e-mail message, state which Photo, for what purpose, to what extent, in what way and for how long you are interested in using it. With regard to the purpose, scope and manner of use of the Photograph that you specify in your application, it will be at PPF's sole discretion whether your application will be approved or rejected and you will be able to use the Photograph. In order to obtain consent to the use of the Photograph, you are obliged to provide only true and complete data in the application. If your application is approved, you will be able to download the requested Photo and use it for the purpose, manner and to the extent specified in the application. However, PPF reserves the right to set the conditions for the scope and method of use Photography.
By downloading the Photo, you do not become its owner in any way. The User who has been allowed to download the Photo undertakes to use the Photo only in accordance with the purpose and to the extent to which the Photo has been allowed to download and use, and only once.
For the media
Notwithstanding the above license agreements, media representatives are entitled, based on the acceptance of these license agreements, to use the Photographs under a news license and in an editorial sense, ie primarily as part of an article in newspapers, magazines and newspaper and magazine websites, including for commercial purposes. In the cases described in this paragraph, you may modify the Photo only by common technical interventions that do not change the image content of the Photo, which means cropping the Photo, and common color adjustments that do not change the meaning or image meaning of the Photo. With the exception of the above, the restrictions on the use of the Photograph resulting from the license agreements also apply to media representatives and the media itself.
General provisions
In the event that you request to combine the Photograph with the author's work (literary or artistic), you are obliged to ask PPF for consent to combine the Photograph with the author's work by sending a request to the e-mail address images@ppf.cz. PPF reserves the right, prior to the actual issuance of the consent, to request from you the submission of such copyright work for approval and as a basis for the decision to issue such consent. PPF also reserves the right not to issue a consent to the merger of the Photograph and the author's work after the assessment of the author's work. PPF also reserves the right to request the submission of a graphic design of each material on which the Photograph is to be displayed.
If you wish to use the Photograph on behalf of your employer, you represent and agree that you are authorized to accept these license agreements on behalf of your employer.
Only PPF is entitled to change or supplement these license agreements. The legal relations that arose between PPF and the user of Fotografie before the change or cancellation of these license agreements are governed by the wording effective as of the date of these relations.
These license agreements are governed by the applicable laws of the Czech Republic. All disputes arising in connection with the use of the Photograph will be heard by a locally competent court in the Czech Republic in accordance with the laws of the Czech Republic.
These license agreements are valid and effective on the date of their publication. These license agreements were published on 17/6/2021.
These license agreements are also prepared in English and Czech. In the event of a conflict between the Czech and English texts of the license agreements, the Czech text of the license agreements shall apply.

Terms of use of website content

PPF CEO Talks to Hospodarske Noviny and Other Reporters on the Group Results and Investment Strategy

Jiří Šmejc

Jiří Šmejc’s Annual Media Briefing (HN Czech Business Daily)

Bloomberg Reports that PPF Group Targets M&A as Asset Prices Pressured

PPF Group NV&nbsp;is seeking out acquisitions in Europe as the investment company controlled by the Czech billionaire Kellner family expects asset prices to come under more pressure amid rising interest rates. &nbsp;
PPF&rsquo;s most recent large deals involved buying into publicly traded companies as stock market prices have dropped more than privately-held assets, according to Chief Executive Officer Jiri Smejc. Valuations in general &ldquo;still don&rsquo;t fully reflect the state of economies&rdquo; and many businesses are finding it more difficult and costly to refinance debt as borrowing costs climb, he said.&nbsp;
Full article: <a href="https://eur01.safelinks.protection.outlook.com/?url=https%3A%2F%2Fwww.bloomberg.com%2Fnews%2Farticles%2F2023-06-23%2Fbillionaire-kellner-family-office-targets-m-a-as-asset-prices-pressured&amp;data=05%7C01%7Cprusa%40ppfgroup.mail.onmicrosoft.com%7C4c6056fa642e42d3269808db77c87ac2%7C5ae9dff0870147f6a00b343f3cd6bc20%7C0%7C0%7C638235475664140308%7CUnknown%7CTWFpbGZsb3d8eyJWIjoiMC4wLjAwMDAiLCJQIjoiV2luMzIiLCJBTiI6Ik1haWwiLCJXVCI6Mn0%3D%7C3000%7C%7C%7C&amp;sdata=trluHMpIfiMfFLyQDgvYMKhZnIp4RVGbvfdj%2FH2qWiE%3D&amp;reserved=0">www.bloomberg.com/news/articles/2023-06-23/billionaire-kellner-family-office-targets-m-a-as-asset-prices-pressured</a> Author: Peter Laca

Jiří Šmejc’s Annual Media Briefing (Bloomberg)

PPF erhöht seinen Anteil an ProSiebenSat.1 Media auf 15,04%

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"Unsere wachsende Beteiligung an ProSiebenSat.1 zeigt, dass PPF ein langfristig orientierter und unterst&uuml;tzender Investor mit umfassender Erfahrung im Fernsehgesch&auml;ft ist, der einen Mehrwert f&uuml;r Deutschlands f&uuml;hrendes Medienunternehmen schaffen kann&ldquo;, sagte Didier Stoessel, Chief Investment Officer von PPF.

PPF 2022: Profit Despite Exit from Russia

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"The first-half earnings reflect the significant negative effect of losses associated with our exit from Russia. The full-year profit is the result of our rebound in the second half of the year, which testifies to the great performances of our managers and employees who all deserve recognition and who all have my gratitude. I believe that only time will tell how significant both facts will be for the future of the Group," said PPF Group CEO Jiř&iacute; &Scaron;mejc.
In the last 18 months, the Group has focused on seeking strategic acquisitions and building partnerships mainly in Europe. PPF acquired stakes in German television broadcaster ProSiebenSat. 1 Media and in InPost, an e-commerce-based European operator of pick-up and drop-off boxes.
PPF&rsquo;s Central European Media Enterprises took over Croatia&rsquo;s leading television broadcaster RTL Hrvatska, expanding its geographic footprint to six markets.
Through the sale of a 30% stake in CETIN Group, PPF partnered with the Singapore sovereign wealth fund GIC.
In parallel with its investment strategy, PPF undertook selected disposals, including the agreement to sell Home Credit's Indonesian and Philippines operations to a consortium comprising the affiliates of Japan&rsquo;s Mitsubishi UFJ Financial Group (&ldquo;MUFG&rdquo;).
<table>
 <tbody>
 <tr>
 <td colspan="4">
 &nbsp;
 Key financial indicators in millions of EUR 
 </td>
 <td>
 &nbsp;
 </td>
 </tr>
 <tr>
 <td>
 &nbsp;
 </td>
 <td>
 31 December 2022
 </td>
 <td>
 31 December 2021
 </td>
 <td colspan="2">
 y-o-y change
 </td>
 </tr>
 <tr>
 <td>
 Total operating income*
 </td>
 <td>
 5,181
 </td>
 <td>
 5,268
 </td>
 <td colspan="2">
 (1.7%)
 </td>
 </tr>
 <tr>
 <td>
 Profit
 </td>
 <td>
 140
 </td>
 <td>
 274
 </td>
 <td colspan="2">
 (48.9%)
 </td>
 </tr>
 <tr>
 <td>
 &nbsp;
 </td>
 <td>
 31 December 2022
 </td>
 <td>
 31 December 2021
 </td>
 <td colspan="2">
 y-o-y change
 </td>
 </tr>
 <tr>
 <td>
 Total assets&nbsp;
 </td>
 <td>
 39,883
 </td>
 <td>
 42,186
 </td>
 <td colspan="2">
 (5.5%)
 </td>
 </tr>
 <tr>
 <td>
 Equity
 </td>
 <td>
 9,147
 </td>
 <td>
 9,128
 </td>
 <td colspan="2">
 0.2%
 </td>
 </tr>
 <tr>
 <td colspan="4">
 Figures in brackets indicate a loss or decrease.
 *Including discontinued operations
 </td>
 <td>
 &nbsp;
 </td>
 </tr>
 </tbody>
</table>

PPF acquires shareholding in fast-expanding European  e-commerce distribution company InPost 

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Together with PPF&rsquo;s previous purchases of InPost shares on the open market, the Group currently holds an aggregate shareholding, representing 16.75% of the InPost share capital.&nbsp;
Under the&nbsp;agreement&nbsp;with Advent, PPF has&nbsp;the&nbsp;option&nbsp;to&nbsp;buy&nbsp;a&nbsp;further 15% stake&nbsp;in&nbsp;InPost from Advent.
InPost, which is listed on the Euronext Amsterdam stock exchange, was founded in Poland by current CEO Rafał Brzoska. The company is currently active in eight Western European countries in addition to its Polish home market, operating more than 29,000 APMs that provide self-service delivery boxes for e-commerce clients. InPost also offers logistics services and fulfillment centers for e-commerce retailers.
"With this investment, we have taken a major step towards strengthening the e-commerce sector in which PPF has long been active. E-commerce is one of our four main investment pillars, along with financial services, telecommunications, and media. As a major shareholder, we are committed to contributing to the international expansion of, and value generation by, InPost, one of the most dynamic companies in its sector," said Didier Stoessel, Chief Investment Officer of PPF Group.

PPF increases its stake in ProSiebenSat. 1 Media to 10.1%

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PPF GATE

PPF has also started liaising with ProSieben on shareholder representation in the company&rsquo;s supervisory board. PPF believes that ProSieben should ensure fair representation of its major shareholders on the supervisory board.

PPF erhöht Anteil an ProSiebenSat. 1 Media auf 10,1 %

PPF trat gleichfalls in Verhandlungen mit ProSieben &uuml;ber die Vertretung der Anteilseigner im Aufsichtsrat des Unternehmens. PPF ist der Ansicht, dass ProSieben eine faire Vertretung aller wichtigen Aktion&auml;re im Aufsichtsrat sicherstellen sollte.

PPF erwirbt 9,10% Beteiligung an ProSiebenSat.1 Media SE

PPF ist davon &uuml;berzeugt, dass die digitale Transformation von ProSieben Wert f&uuml;r alle Aktion&auml;re schaffen wird. PPF freut sich auf die Zusammenarbeit mit dem Management und dem Aufsichtsrat von ProSieben bei der digitalen Transformation von ProSieben. PPF ist ein aktiver Investor in den Bereichen Telekommunikation, Medien und Technologie (TMT). Die Central European Media Enterprises (CME) von PPF betreibt mehrere Fernseh- und Online-Medienunternehmen in Mittel- und S&uuml;dosteuropa.

PPF acquires 9.10% stake in ProSiebenSat.1 Media SE

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PPF believes the digital transformation of ProSieben will create value for all shareholders. PPF is looking forward to liaising with the management and supervisory board of ProSieben in this digitalization process. PPF is an active investor in the telecommunications, media, and technology (TMT) sectors. PPF&rsquo;s Central European Media Enterprises (CME) operates several television and online media companies in Central and Southeastern Europe.

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Petr Kellner was 56 years old. His professional life was known for his incredible work ethic and creativity, but his private life belonged to his family.&nbsp; His funeral will be held with only close family members. We please ask the media to respect the privacy of the Kellner family during this difficult time.
We want to express our gratitude for the condolences, well wishes, and prayers expressed so far to the bereaved. The condolences can be sent by post to Office of Petr Kellner, Evropsk&aacute; 17, 160 00 Prague 6, Czech Republic, or via email&nbsp;<a href="mailto:condolences@ppf.cz">condolences@ppf.cz</a>.