KB acquires the company Office Center Stodůlky a.s. upon fulfilment of contractual conditions

Prague, 31 October 2017 – Komerční banka, a.s., with its registered office at Na Příkopě 33/969, 114 07 Prague 1, registration No. 45317054, entered in the register of companies maintained with the Metropolitan Court of Prague, section B, file No.1360 (Komerční banka), announces that following the fulfilment of the conditions precedent set in the Framework Agreement published on 4 May 2017, it has on 31 October 2017 purchased 100% shares in the company Office Center Stodůlky a.s., registration No.27629317 (Office Center Stodůlky) from the current two owners, (i) FINEP HOLDING, SE, with its registered seat at Havlíčkova 1030/1, Nové Město, Postal Code: 110 00, Prague 1, registration No. 279 27 822 and (ii) Real 12 a.s., with its registered seat at Prague 1, Klimentská 1246/1, Postal Code: 110 00, registration No. 279 28 730.

Office Center Stodůlky is the owner of the new office building in Prague - Stodůlky. The completion of the building is expected in the first half of 2018. This purchase is a part of KB’s operational strategy to place the Group headquarters at two locations in Prague, one of which will be a Wenceslas Square building in the city centre, and the other will be at a new office complex in Stodůlky, in the western part of Prague, extended by the newly acquired building. Aims include to improve the conditions for collaboration within individual teams and to enhance operating efficiency. KB intends to place some of its headquarters activities (representing about 1,000 jobs) into the new building in Prague - Stodůlky during 2018.

The parties agreed not to disclose the purchase price.