TRADING PARAMETERS

I. TRADING GROUPS Trading group Type of security 1 all book-entered 2 all certificated 3 included into SPAD Method of trading auction + continual + block trades auction + block trades auction + continual + SPAD + block trades (over-thelimit)

II. AUTOMATIC TRADES Quotation step (for orders) Shares Official price in CZK < 200 200 – 1,000 ≥ 1,000 Bonds Official price in % < 200% ≥ 200% Allowable divergency Trading group 1 2 3 Auction 5% 5% 5% Continual Waiting period 5% + 3% 1 x 5 min. -----5% + 5% + 5% + 5% 3 x 5 min. if the 20 % band is crossed, add. if the 20 % band is crossed, add. 10 % + 10 % + 10 % 3 x 15 min. Quotation step 0.01% 1.00% Quotation step CZK 0.01 CZK 0.10 CZK 1.00

Lot (in pieces) for continual Trading group 1 2 3 Lot 1 pcs 1 pcs 1 pcs

Market codes 1 perfect balance, allocation ratio = 100%, trade is concluded, official price is set in harmony with criteria 2 local excess on offer side, allocation ratio 0-100%, trade is concluded, official price is set in harmony with criteria 3 local excess on bid side, allocation ratio 0-100%, trade is concluded, official price is set in harmony with criteria

4 global excess on offer side, allocation ratio higher than 20%, trade is concluded, official price is set at the threshold of the allowable spread 5 global excess on bid side, allocation ratio higher than 20%, trade is concluded, official price is set at the ceiling of the allowable spread 6 total excess on offer side, allocation ratio 0- 20%, trade is not concluded, official price is set at the threshold of the allowable spread 7 total excess on bid side, allocation ratio 0- 20%, trade is not concluded, official price is set at the ceiling of the allowable spread 8 not quoted, allocation ratio 0%, trade is not concluded, official price is not set

Maximum theoreticaly trade value per order § multiplication of ordered pieces and previous closing exchange rate of securities. A potentional trade value of ordered issues should be below CZK 40 mil refering to SPAD issues and below CZK 10 mil refering to other issues.

III. SPAD Standard settlement date: T+3

Allowable spread § during open phase: § during closed phase:

the best quotation extended in both directions by 0.5% the best quotation extended in both directions by 5%

Maximum spread for given Exchange day § for the given exchange session, the maximum allowable variance from midpoint of the best quotation set at the moment of starting the open phase, is fixed for ± 20 %. If exceeded, this band may be expanded by additional ± 10 %. Expansion of the next band may be repeated, but up to ± 50 % as maximum Interruption of quotation § after concluding the trade: max. 3 min. § in case of technical problems: without limitation The maximum spread of the market makers' quotations § the maximum band within which the market makers may enter their quotations has been defined by maximum variation of 50 % from midpoint of the allowed spread valid at the moment the open phase is started in the SPAD. Limit for market makers § Market maker (MM) at the best quotation is obliged to confirm the instruction which as the first responded to his quotation, forthwith - max. by 10 sec. Time for including the trade § during open phase: max 5 min.

§

during closed phase:

max 60 min from the negotiating of the trade

Limit for over-the-limit trade § set by number of pieces for each issue particularly (totaled at multiple of standard volume) in order that the value was cca CZK 150 mil. Trading break § is the period (15 minutes) during which trading is suspended due to breach of the 20 % band and subsequently of each additional maximum band announced by manager of the exchange session. Limits Limits control limit sanction limit § § Group 1 without limitation without limitation Group 2 CZK 100 mil. CZK 125 mil. Group 3 CZK 50 mil. CZK 75 mil.

group 1 – market makers – non-market markers that deposit guarantees at CZK 20 mil. including into the second or the third group respectively depends on trade value in preceding period

MM’s guarantee § MM’s guarantee in SPAD serves as MM’s warranty for his obligations against the Exchange Guarantee Fund. The Exchange Chamber set the guarantee at CZK 10 mil. in financial form or in form of bank guarantee. Requirement of guarantee adjusts article 36 of Univyc Settlement System Rules.

IV. BLOCK TRADES Limit for registration Security Shares Bonds Limit for reporting (registration) till 5 min. during the open phase of SPAD trading till 60 min. during the closed phase of SPAD trading till 120 min

Minimum value § Share = CZK 1 § Bond = CZK 10,000

V. SETTLEMENT DIAL Type of settlement SV3 DVx EVx EFy Type of transaction SPAD trades block trades Univyc trades Univyc trades (without money) Date of settlement from T+1 to T+15 from T+1 to T+15 from T+1 to T+15 from T+0 to T+15

CVx CFy VVx VFy NVx IV0 FVx, FFy PVx, BVx, RVx PFy, BFy, RFy ZF0 XF0

custody transfer custody transfer (without money) custody transfer custody transfer (without money) block trade substitute trade Univyc trades Univyc transfer Univyc transfer (without money) technical - Univyc technical - Univyc

from T+1 to T+15 from T+0 to T+15 from T+1 to T+15 from T+0 to T+15 from T+1 to T+15 from T+1 to T+15 from T+016 to T+99 from T+1 to T+99 from T+0 to T+99 from T+1 to T+15 from T+0 to T+15