One of the leading firearms producers for military and law enforcement, hunting, personal defence and shooting sport markets

CZG – ČESKÁ ZBROJOVKA GROUP SE

STRICTLY CONFIDENTIALFebruary 2021

Legal Disclaimer

IMPORTANT - YOU MUST READ THE FOLLOWING BEFORE CONTINUING

• This presentation (the “Presentation”) has been prepared by CZG - Česká zbrojovka Group SE, with its registered office at Opletalova 1284/37, Nové Město, 110 00 Praha 1,Identification Number 291 51 961, registered in the Commercial Register maintained by the Municipal Court in Prague, Section H, Insert 962 (the “CZG”). By attendingthe meeting where this Presentation is made or byreading or accessing this Presentation you acknowledge and agree to be bound by the following terms andconditions.

• The Presentation has been prepared with due care, however certain inconsistencies or omissions might have appeared in it. Therefore it is recommended that anyperson who intends to undertake any investment decision regarding any security issued by CZG or any member of its group (the “Group”) shall only rely oninformation released as an official communication by CZG in accordance with the legal and regulatory provisions that are binding for CZG.

• Past performance should not be taken as an indication or guarantee of future results, and no representation or warranty, express or implied, is made regarding futureperformance. CZG does not guarantee that the assumptions underlying the forward-looking statements in this Presentation are free from errors, accept anyresponsibility for the future accuracy of the opinions expressed in this Presentation or undertake any obligation to update the statements in this Presentation to reflectsubsequent events. The forward-looking statements in this Presentation are made only as of the date hereof. Neither the delivery of this Presentation nor any furtherdiscussions of CZG with you shall, under any circumstances, create any implication that there has been no change in the affairs of CZG since such date.

• Forward - looking statements, including statements relating to expectations regarding the future financial results give no guarantee or assurance that such results willbe achieved. Expectations of the management of CZG are based on present knowledge, awareness and/or views of the members of management and are dependenton a number of factors, which may cause that the actual results that will be achieved by the CZG may differ materially from those discussed in this Presentation. Manysuch factors are beyond the present knowledge, awareness and/or control of the CZG, or cannot be predicted by it. None of the Group, CZG or its directors, managers,advisers or representatives of such persons makes any representation or warranty, expressed or implied, as to the fairness, accuracy, completeness or correctness ofthis Presentation, the sufficiency of this Presentation for your purposes or the appropriateness of this Presentation for any purpose other than that for which it wasintended and nothing contained herein is, or shall be relied upon as, a promise or representation, whether as to the past or the future.

• This Presentation should not be construed as legal, regulatory, tax, accounting, investment or other advice. Nothing contained herein shall constitute anyrepresentation or warranty as to future performance of any security, credit, currency, rate or other market or economic measure. No reliance may be placed for anypurpose whatsoever on this Presentation.

• This Presentation was prepared for information purposes only and is neither a purchase or sale offer, nor a solicitation of an offer to purchase or sell any securities orfinancial instruments or an invitation to participate in any commercial venture. This Presentation is neither an offer nor an invitation to purchase or subscribe for anysecurities in any jurisdiction and no statements contained herein may serve as a basis for any agreement, commitment or investment decision, or may be relied uponin connection with any agreement, commitment or investment decision.

What makes CZG a unique investment opportunity

PARTNER OF CHOICE TO BOTH INSTITUTIONS & INDIVIDUALS GLOBALLY WITH UNIQUE OFFERING

INNOVATION AND MANUFACTURING EXCELLENCE IN ITS DNA

WIDE CLIENT BASE AND POTENTIAL FOR FURTHER EXPANSION

EXPERIENCED MANAGEMENT TEAM WITH A STRONG COMPLIANCE AND ESG FOCUS

ONE OF THE LEADING EUROPEAN FIREARM PRODUCERS WITH GLOBALLY RECOGNIZED BRAND

PLANNED ACQUISITON & STRONG FINANCIAL PERFORMANCE

123456

1CZGUHERSKÝ BRODBRNO

SPUHRLÖDDEKÖPINGE

CZ-USAKS

DAN WESSONNY

REVENUE DEVELOPMENT

A Leading firearms producerwith global footprint

Source: Consolidated Financial Statements of CZG as of 31 December 2019, Unaudited consolidated financial statements for the period ended 30 September 2020; figures are for continuing operations.; figures are for continuing operations, 2017-2018 and 9M2019;In terms of 2019 revenues1 – EBITDA from continued operations “EBITDA“ calculated as Profit for the period from continued operations plus income tax, interest expense and depreciation and amortization less interest income (EBITDA margin calculated as EBITDA divided by Revenues from the sale of own products, goods, and services)

REVENUE BREAKDOWN 9M 2020

EBITDA FROM CONTINUED OPERATIONS (”EBITDA”) (1)

END MARKETS

Military and Law Enforcement

Civilian

PRODUCTION SITES

▪ Portfolio of small firearms for all segments of the civilian market (i.e. self-defence, hunting, sports shooting)

▪ Recent successful expansion into military/law enforcementmarkets

▪ Around 1,647 employees in the Czech Republic, USand Germany

▪ A fast growing and profitable business, 2017-2019 Revenue CAGR of 14.4%, average 2017-2019 EBITDA margin 21.6%

▪ Over 75% of revenues from customers outside Czech Republic in more than 90 countries around the world in 2019

CZK m

CZK m

1

Source: Company 1 – CZ P-10 S Optic Ready is a 2019 Winner of On Target Editor’s Choice Award, CZ P-10 won Guns&Ammo Pistol of the Year award 20172 – Minority interest in Spuhr I Dalby3 – As of 30 Septermber 2020

One of the leading and longest standing Europeanfirearms producers

TODAY

ONE OF THE LEADING EUROPEAN

SMALL FIREARMS MANUFACTURERS

Highly successful and award-winning(1)product lines (CZ75, BREN, Scorpion)

Guns used by the Czech armed forces, French antiterrorist unit “GIGN”, police in Singapore, Mexico, Poland and Romania

Two R&D hubs in the Czech Republic (Prague & Uherský Brod), which together

employed c. 185 FTEs(3)

The planned construction of the Group’s new production facility in Little Rock,

Arkansas, United States (the “Little Rock Project”), may be further delayed, not

completed as currently planned, or at all, or not produce the benefits expected.

Five production sites (2x Czech Republic, 2x United States and Sweden(2)) with around 1,647 employees in the Czech Republic, US

and Germany

AT THE TIME ONE OF

THE MOST MODERN

AND EFFICIENT

FACTORIES

WORLDWIDE

FOUNDED IN

1936

IN CZECHOSLOVAKIA

GRADUALLY BECAME

THE MAIN

CZECHOSLOVAK

SMALL FIREARMS

MANUFACTURER

AFTER IT WAS

NATIONALISED IN 1949

1949: #1 NATIONAL

SMALL FIREARMS

PRODUCER

MORE THAN A

MILLION PIECES SOLD

TO DATE

1975: START OF THE

LEGENDARY CZ75

PRODUCTION

FOLLOWING THE

PRIVATISATION OF

THE COMPANY IN 1992

1997: EXPANSION OF

BUSINESS

ACTIVITIES INTO THE

US

FOLLOWING THE

CONTRACT FOR

REARMAMENT OF THE

CZECH ARMY

2011: RESTART OF

SERVICE OFFERING

FOR THE MILITARY

MARKET

1936 1949 1975 1997 2011

SAVING THE

COMPANY FROM

LOOMING

BANKRUPTCY

2001: MR RENÉ

HOLEČEK TAKES

OVER THE

COMPANY

2001

1 The Group‘s structure

CZG – Česká zbrojovka Group SE(“CZG”)

Czech Republic

Česká zbrojovka Partners SE

Czech Republic

Česká zbrojovka a.s.

Czech Republic

CZ Export Praha, s.r.o.

Czech Republic

CZG-Česká zbrojovka Group International

s.r.o.

Czech Republic

CZG VIB s.r.o.

Czech Republic

CZ Acquisition II. LLC.

USA

EHC-4M, SE

Czech Republic

VIBROM spol. s r.o.

Czech Republic

24.99%

4M SYSTEMS a.s.

Czech Republic

33%

100% 100%

100%

100%100% 99.32%

90.76%

CARDAM s.r.o.

Czech Republic

CZ Brasil LTDA

Brazil

Latin America Holding, a.s.

Czech Republic

CZ – Slovensko s.r.o.

Slovakia

ZBROJOVKA BRNO, s.r.o.

Czech Republic

100%49% 100% 20%

CZ-USA Inc.

USA

CZ MFG, Inc.

USA

EG-CZ Academy

France

100% 100% 100%

Spuhr i Dalby AB

Sweden

25%

Free float

9.24%

CZ-USHoldings Inc.

USA

100%

HOLDING COMPANIES NO ASSET COMPANIESOPERATING COMPANIESNotes: 1 – As of January 2021, post-IPO

100%

1

Source: Company1 – As of 30 September 20202 – CZG acquired minority stake of 25% in Spuhr I Dalby in May 2020

Global manufacturing organisation

~ 121FTEs(1) ~1,532(1)

FTEs(1)4M Systems

Produces, designs, markets and sells ballistic

equipment and accessories

DAN WESSON

CZ-USA

Zbrojovka Brno

Produces Brno Rifles

CZUB

Produces CZ firearms

Turkish Partners Huglu and Akkar

Produce CZ-USA branded shotguns

ToT Hungary (Arzenál)

Produces CZ firearms for Hungarian army.

Company owned by the state of Hungary

CZ-USA• Produces CZ-USA and P10 Striker pistols

• Assembles CZ Scorpion EV03 and a

variety of CZ rimfire rifles

• Produces Dan Wesson firearms

• Imports CZ firearms

• Imports CZ-USA shotguns manufactured

by Huglu and Akkar

Spuhr i Dalby(2)

Designs and manufactures optical mounting

solutions and weapon upgrades

1 Group structure underpinning the strategy

DEVELOP

▪ Research and development partnership with the Institute of Physics of the Czech Academy of Sciences

▪ Strategic investments into companies to develop and produce components and materials

Minority stake, CZG strategic investment

PRODUCE AND SELL

▪ Manufacturing, R&D, design, tender and other facilities and departments

▪ Production facilities in Europe and USA

▪ New production facility, distribution centre and the US head office to be built in Little Rock

▪ 150 distributors in approximately 100 countries

BOOST THE OFFER

▪ Design, manufacture and sale of tactical gear for military and law enforcement

▪ Defence materiel trade

▪ Strategic investments into optics to develop first in class products for most demanding clients

LEVERAGE THE EXPERTISE

▪ Shooting academy

▪ Marketing tool to increase brand loyalty

▪ Financing, training and support for buyers

Source: Company

OPERATING SUBSIDIARIES AND STRATEGIC VENTURES BUILD UP

2 A truly Global playerCZG HAS WIDESPREAD CUSTOMER BASE ACROSS ALL REGIONS

Serving over 90 markets, without being strongly dependent on single market when compared to key competitors

USA69.9 %

EUROPEexcl. CZ12.1 %

CZ4.4 %

Rest ofthe

World13.3 %

Selected Military & Law enforcement references

Military and law enforcement units Hungary, Poland, Czech Republic, Slovakia,

Sweden(3), Netherlands(3), Denmark(3), Portugal, Romania, Jordan

Police and/or border guardsCzech Republic, Slovakia, Poland,

Germany(3), Romania,Mexico, Singapore,

Indonesia, Vietnam,Malaysia, Kenya

Antiterrorist unitsFrance

Largest markets of listed peers (% of 2019 revenues)

Smith & Wesson Brands(1)

USA 95%

Sturm Ruger (2)

USA 95%

Source: Company:Unaudited Consolidated Financial Statements for the Period Ended 30 September 2020; figures are for continuing operations.1 – Smith & Wesson Brands, Inc. Report on Fourth Quarter and Full Year Fiscal 2020 Financial Results, for comparison FY 2020 covering 1.5.2019-30.4.2020 is considered as 20192 – Sturm, Ruger & Company 2019 Annual Report and Form 10K3 – Company source

3Well-structured R&D process aiming at successful launches meeting the industry trends

▪ Shortening of the product life cycle

▪ Personalisation

▪ New materials (polymers, metals)

▪ Integration of optical targeting systems

▪ Integration of electronic systems

▪ Higher demand for customization

▪ New productive technologies (MIM, additive manufacturing)

INDUSTRY TRENDS

Applied Research

CZG R&D FRAMEWORK

Product Development

➢ Assault rifles developed in cooperation with Czech Army

➢ Modifications to introduce state of the art products (GIGN)

En

gin

eering➢ Annual innovation projects

➢ Cost saving projects

➢ New technologies and materials (polymers and composites)

TANGIBLE R&D IMPACT

NEW SURFACE TREATMENTS

APPLICATION OF INDUSTRY 4.0PRINCIPLES

HIGHER LEVEL OF DIGITALISATION

SHORTER INNOVATION CYCLE

GREATER USE OF ROBOTICS & AUTOMATION

NEW PRODUCT LAUNCHES

4Active across distribution channels customised for target groups

Source: Company1 – Direct sales are only possible in Czech Republic where CZG holds a permission for direct sales to the public

MARKETING INITIATIVES

Monthly newsletter Trade shows / exhibitions

Group’s web-site and social media

Major shooting events CZ Shooting team

Wholesale / Dealers Retail and online

▪ 150 distributors in approximately 100 countries

▪ Annual review of partners’ performance (review of business strategy every 2 years)

▪ Agreements on a commission basis

▪ May be authorized to participate and apply for tenders

▪ E-shop for trade partners

▪ 2 retail stores located in the Czech Republic(1)

▪ E-shop for firearms accessories

▪ Online configurator available in the Czech Republic, Slovakia and Poland

SALES THROUGH PREDOMINANTLY TWO MAIN TYPES OF CHANNELS

2

1

CONTINUOUS MARKETING

DEDICATED SALES DEPARTMENT

▪ Germany based sales team covering Western Europe, to support higher penetration in W. Europe

▪ Sales team focusing on identification of tender opportunities

▪ Preparation of tender documentation

CIVILIAN TARGET GROUP MILITARY AND LAW ENFORCEMENT

2

1

Demonstrations to the armed forces

Presentations during national and international

fairs

Collecting feedback from M&LE

Dialogue during production process

Experienced sales representatives Tender support team

4Internal development coupled with strategic external growth to address demand and cater to most sophisticated customers

Screens acquisition opportunities

among competitors with strong

military and law enforcement

market presence

Considers acquisitions of selected

producers of complementary

products (e.g. optics, opto-

electronics or ammunition)

Intends to focus on increasing

penetration of Military & Law

Enforcement markets particularly in

Germany, W. Europe and the USA

Targets an Enterprise Value ranging

from EUR 50m-300m, to be

financed by mix of debt and equity

Zbrojovka Brno acquired

Dan Wesson acquired

2004 2005

Decision to build a plant in the US

201920182015

Acquisition of majority stake in 4M Systems

Fully integrated in CZG, success of brands revivals

CZG turned acquired targets profitable, generated return on

investment

Expansion into complementary products and

technology segments

Fulfilling the one-stop-shop ambition, with expected

effects on margins

2018

▪ Target companies active in ballistic accessories segment and metal injection moulding

Acquisition of stake in Vibrom

▪ CZG production with state of the art technology

▪ Royalties from licensed products

Transfer of Technology agreement with Hungarian company HM Arzenál

▪ Traditional firearms producers ▪ At the time of acquisition poor financial

and commercial results

2019

Cooperationwith RheinmetallGroup for the supply of high caliber ammunition to military clients

2020

Acquisition of stake in Spuhr i Dalby AB

▪ Swedish manufacturer of optical mounting solutions for weapons

2021

Planned Coltacquisition

Source: Company

5Industry experts with innovative mindset and clear strategy, adhering to compliance and ethical standards

ALICE POLUCHOVÁVice-Chairman of the Board of Directors / CEO of CZ-USA

LUBOMÍR KOVAŘÍKChairman of the Board of Directors / President

JAN DRAHOTAVice-chairman of the Board of Directors, Head of Finance

JANZAJÍCMember of the Board of Directors

• President of the Group since 2018• CEO of key subsidiary (CZUB) between 2006 and

2017• Almost 15 years with CZG

• Vice-Chairman of the Board of Directors and Head of Finance since 2018

• 15 years of experience in investment banking • With CZG at the shareholder level since 2014

• CEO of CZ-USA since 2004• 20+ years of experience with US firearms market• With CZG since 1995

• CEO and chairman of the board of directors of CZUB since 2020 .

• Previously worked as CFO of CZUB • Management experience from industrial

companiesin the Czech Republic and abroad

ANDREJ CHRZANOWSKIMember of the Board of Directors

• Head of R&D since 2018• 15+ years of experience in R&D• With CZG since 2013

DAVIDAGUILARMember of the Board of Directors

JANARŮŽIČKOVÁMember of the Board of Directors

• Independent, non-executive member of theBoard of Directors

• 35 years of experience with U.S. Customs and Border Protection and the U.S. Border Patrol

• With CZG since 2016

• CZG Corporate Secretary• Over 15 years of experience in managerial

positions and executive roles• With CZG since 2015

…complemented by governance committees

REMUNERATIONCOMMITTEE

REGULATORY AND ETHICAL MATTERS COMMITTEE

ACQUISITION COMMITTEEAUDIT COMMITTEE

TOP MANAGEMENT WITH EXTENSIVE EXPERTISE…

Source: Company

5Active ESG approach underscores CZG orientation towards highest standards

Source: Company1 – 2019 turn rate of CZUB; Internal KPI at CZUB set at the maximum turn rate limit of 4.5% for 20192 – https://www.kr-zlinsky.cz/kraj-ocenil-spolecnosti-ktere-se-chovaji-fer-ke-svym-zamestnancum-aktuality-15573.html3 – Support of armed forces, police and emergency services, financial sponsorship for child oncology in Brno and many more

DOING WELL WHILE DOING GOOD

ENVIRONMENTAL

➢ Business partners are regularly assessed against

environmental criteria

➢ Focus on sustainability among top priorities in

research and development

➢ Higher degree of digitalization having both

environmental and social benefits

➢ Focus on higher share of green energy at CZUB

➢ Production automatization and modernization to

eliminate negative impact on environment

SOCIAL

➢ Employee turn rate around 3.9%(1), below 4.5% limit

➢ Fair employer of the Zlín Region 2019(2)

➢ Proactive SHE policy including regular assessment

and remedy plan

➢ Focus on health and work security, available services

in health clinics, regular assessment and training on

work related security – 2019 saw lowest number of

accidents in last seven years

➢ Leadership programme, coaching to facilitate

development of employees

➢ Antidiscrimination, employment of disabled

➢ Donation of face masks to the city of Uherský Brod

during covid-19 pandemic in 1H2020

➢ Over 60 charities supported in 2019(3)

GOVERNANCE

➢ Compliance officer position overseeing adherence to

Ethical code

➢ Set of internal documents and rules governing

behavior and actions of all employees

➢ Cybersecurity among top priorities, following set of

best practices

➢ Dedicated committees to govern multiple aspects

and their orientation towards CZG goals

➢ Major shareholders’ long term commitment and

strategy alignment

5• Source: Company

Description of regulatory environment

CZG IS SUBJECT TO VARIOUS CZECH, EU AND U.S. LAWS AND REGULATIONS…that are uncompromisingly followed and complemented by adherence to ethics code and safety policies

European Union

United States

Manufacturing and trade firearms Handling of firearms

Export of non-military firearms

Export of military firearms

1 Firearms Directive

2 Trade Licensing Act

3Firearms Authentication Act

1 Czech Weapons Act

2 Security Requirement Regulation

3 Implementation Decree

1 Act on Control Trade

2 Control of Trade Regulation

3 EU Export Regulation

1 Act on Trade in Military Materiel

2 Regulation on Trade in Military Materiel

Gun Control Act of 1968

National Firearms Act of

1934

Arms Export Control Act of

1976

International Traffic in Arms

Regulations

THE U.S. MANUFACTURE, SALE AND PURCHASE OF FIREARMS ARE SUBJECT TO EXTENSIVE FEDERAL AND STATE REGULATION

Legislation of Czech Republic

Export Administration

Regulations

5Commercial conduct governed and limited by strict controls and license requirements

EXPORT LICENSE

LICENSE TO TRADE DEFENCE MATERIEL(1)

✓ Compliant in material aspects with relevant regulatory framework and oversight

✓ Required systems in place

✓Competencies secured

✓Compliant in material aspects with security policy

✓ Statutory conditions for the maintenance of the registration

Firearm or any defense equipment cannot be sold without:

1

END USER CERTIFICATE FROM CLIENT ORDERING THE PRODUCT

2

✓Guarantee that product will not be resold

3

In case of firearms for military and law enforcement customers

✓Evaluate compliance with

security policies

ADHERENCE TO SAFETY POLICY OF EUROPEAN UNION AND CZECH REPUBLIC AND ETHICS CODE

5

Source: Company 1 – http://www.natoaktual.cz/armada-nakoupi-dalsi-utocne-pusky-bren-dy0-/na_zpravy.aspx?c=A131203_113412_na_zpravy_m00 and http://www.army.cz/en/ministry-of-defence/newsroom/news/new-weapon-for-czech-soldiers:-cz-805-bren-a1-a2-51569/2 – https://www.e15.cz/domaci/ceska-zbrojovka-doda-armade-zbrane-za-pul-miliardy-12579823 – https://www.idnes.cz/zpravy/domaci/ministerstvo-obrany-obchod-zbrane-smlouva-ceska-zbrojovka-pusky-pistole-granatomety.A200421_121648_domaci_pmk; translated to EUR using CZK/EUR translation rate of 25.672 (2019 average)

Key partner to the CZECH ARMY

CZECH ARMY

CZECH ARMY – FRAMEWORK AGREEMENT(3)

◼ Small arms to be supplied between 2020 and 2025

◼ Over 21,000 units of CZ P-10 pistols

◼ Over 16,000 units of CZ BREN 2 rifles

◼ Total contract value of overEUR 90m

2020-20252016

CZECH ARMY – FIREARMS(2)

◼ 2,600 units of CZ 805 BREN rifles including accessories

◼ 5,500 units of CZ 75 SP-01 Phantom pistols

◼ Total contract value ofapprox. EUR 19m

CZG supplied products

◼ CZ BREN 2

◼ CZ BREN A1/A2

◼ CZ Scorpion EVO 3 S1

◼ CZ 75 SP-01 Phantom

◼ CZ P-10 C

◼ Ammunition for JAS 39 GRIPEN

2009-2010

CZECH ARMY – BREN(1)

◼ Approx. 8,000 units of CZ 805 BREN rifles

◼ Approx. 600 units of CZ SCORPION EVO

◼ Approx. 5,600 units of CZ 75 PHANTOM

◼ Total contract value ofapprox. EUR 47m

6 Overview of Colt Holding Company LLC

191 200255

24 20 50

12.3% 10.1%19.7%

-0.7

-0.5

-0.3

-0.1

0.1

0.3

0

100

200

300

400

500

2018 2019 2020

Revenue and EBITDA

Revenue EBITDA EBITDA margin

16%

31%53%

Revenue by segment 2020E

Colt Canada - M&LE market US - civilian market

US - M&LE market

• Colt Group manufactures firearms, and small arms weapon system for civilian, military and law enforcement customers

• Company's end customers encompass every major segment of the global firearms market

• US, Canada and international armed forces• US, Canada and international law

enforcement agencies • Consumer hunting, sporting, collector

communities

• The Company operates its manufacturing facilities in

• West Hartford, Connecticut • Kitchener, Ontario

Financial overviewGeneral overview

Source: Colt Holding Company LLCNotes: 1 – Preliminary figures

1

*In USDm / %

6 Combined group at a glance

56 4370

2261.3x

0.8x

1.2x

2.0x

0.0x

0.5x

1.0x

1.5x

2.0x

- 50

100 150

200 250 300

2017 2018 2019 2020Epost transaction

Net debt

Net leverage ratio

CZG Net Debt 3 and Net leverage ratio

USDm

286 255

542

2020E CZGGuidance

2020E Colt 2020E Total

Revenue1

USDm

EBITDA from continued operations1

USDm

6150

112

2020E CZGGuidance

2020E Colt 2020E Total

+89%

CZG maturity profile of combined debt

USDm

0

102

0 0 0 0

182

2021 2022 2023 2024 2025 2026 2027

Expected Net leverage ratio below 2.5x

+83%

Notes: FX rate used USDCZK 22.001 – Based on 2020E consolidated financial result of Colt Holding Company LLC and CZG mid-point guidance2 – Unadjusted for synergies 3 – Considering current CZUB bonds and new 2021 CZG bonds

2

6 Transaction rationale fully in line with CZG strategy

CZG goal to become the industry leader with a target of EUR 1 BN of revenues by end of 2025

CZG has an immediate need to expand its production presence in the United States, CZG needs a strong „second production leg“ next to its base in Uherský Brod, Czech Republic

Acquisition of COLT to bring significant operational, commercial and R&D synergies for the newlycreated Group

CZG ambition to strengthen its position in the M&LE segment globally, in North America, including US Federal Government

1

2

3

4

Definitions

[]b billion [units]

[]k thousand [units]

[]m million [units]

AEDC Arkansas Economic Development Commission

APAC Asia Pacific

Capex Capital expenditures

CARDAM CARDAM s.r.o.

CDPS Cash dividend per share

COGS Cost of goods sold

CZG, Company, Group CZG - Česká zbrojovka Group SE

CZK Czech koruna

CZUB Česká zbrojovka a.s.

CZ-USA CZ-USA Inc.

Dividend payout Dividends paid in period divided by net income of preceding financial year

EBIT Earnings before interest and tax (calculated as EBITDA from continuedoperations less depreciation and amortization)

EBIT margin EBIT divided by Revenues from the sale of own products, goods, and services

EBITDA EBITDA from continued operations; calculated as profit for the period from continued operations plus income tax, interest expense and depreciation and amortization less interest income

EBITDA margin EBITDA from continued operations divided by Revenues from the sale of own products, goods, and services

EBT Profit before tax

EDA European Defence Agency

EPS Earnings per share

EUR Euro

Financial debt Long-term and short-term bank loans and borrowings and finance lease payables

FTE Full-time equivalent (number of employees)

GIGN National Gendarmerie Intervention Group, an elite French police tactical unit

IPSC International Practical Shooting Confederation

M&LE Military and law enforcement

MIM Metal injection molding

Net debt Financial debt less cash

Net Income Profit for the period from continuing operations

Net Income margin Net Income divided by Revenues the sale of own products, goods, and services

OCF Net cash flow from operating activities

R&D Research and development

ROE Return on Equity, calculated as Net Profit of given financial year divided by average from Equity attributable to the shareholders at the beginning and at the end of given period

RoW Rest of the world

SHE Safety, Health and Environmental

Underlying EBITDA from continued operations

EBITDA from continued operations less other financial income plus other financial expenses

Underlying EBITDA margin Underlying EBITDA from continued operations divided by Revenues from the sale of own products, goods, and services

USD United States dollar