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The approval of the base prospectus by the Czech National Bank should not be understood as confirmation of the bonds being issued, nor as confirmation of the bond issuer. The decision to approve the securities prospectus by the Czech National Bank only certifies that the approved prospectus meets the standards of completeness and comprehensibility required by Regulation 2017/1129. Interested parties should make their investment decisions based on their own consideration and information provided not only in this prospectus but also in any supplements to the prospectus, to fully understand the potential, risks, and returns associated with investing in securities.

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