ANNOUNCEMENT

November 22, 2021

Qualifying holding of Pendal Group Limited, through its subsidiary J O Hambro Capital Management Limited

In accordance with articles 16 and 17 of the Portuguese Securities Code, Galp hereby discloses the following information:

On 22 November 2021, Pendal Group Limited notified the Company that, on 19 November 2021, it decreased, through its subsidiary J O Hambro Capital Management Limited, its holdings in Galp's voting rights from 2.03% to 1.33%, below the 2.0% threshold.

The full chain of controlled undertakings through which the voting rights and/or the financial instruments are effectively held are disclosed in the attachment.

Number of voting rights

% of voting rights

Held directly

Held indirectly

Held directly

Held indirectly

ISIN: PTGAL0AM0009

--

11,078,555

--

1.33%

(Ordinary shares)

Total

11,078,555

1.33%

Galp Energia, SGPS, S.A.

Investor Relations:

Contacts:

Website:

Tel: +351 21 724 08 66

Otelo Ruivo, Director

Fax: +351 21 724 29 65

www.galp.com/corp/en/investors

Inês Clares Santos

Email: investor.relations@galp.com

João Antunes

Address:

João G. Pereira

Rua Tomás da Fonseca,

Reuters: GALP.LS

Teresa Rodrigues

Torre A, 1600-209 Lisbon, Portugal

Bloomberg: GALP PL

This document may include forward-looking statements, including, without limitation, regarding future results, namely cash flows, dividends, and shareholder returns; liquidity; capital and operating expenditures; performance levels, operational or environmental goals, targets or commitments and project plans, timing, and outcomes; production rates; developments of Galp's markets; and impacts of the COVID-19 pandemic on Galp's businesses and results; any of which may significantly differ depending on a number of factors, including supply and demand for oil, gas, petroleum products, power and other market factors affecting them; the outcome of government policies and actions, including actions taken to address COVID-19 and to maintain the functioning of national and international economies and markets; the impacts of the COVID-19 pandemic on people and economies; the impact of Galp's actions to protect the health and safety of its employees, customers, suppliers and communities; actions of Galp's competitors and commercial counterparties; the ability to access short- and long-term debt markets on a timely and affordable basis; the actions of consumers; other legal and political factors, including changes in law and regulations and obtaining necessary permits; unexpected operating events or technical difficulties; the outcome of commercial negotiations, including negotiations with governments and private entities; and other factors discussed in Galp's Management Report & Accounts filed with the Portuguese Securities Market Commission (CMVM) for the year ended December 31, 2020 and available on our website at galp.com. All statements other than statements of historical facts are, or may be deemed to be, forward-looking statements. Forward-looking statements express future expectations that are based on management's expectations and assumptions as of the date they are disclosed and involve known and unknown risks and uncertainties that could cause actual results, performance or events to differ materially from those expressed or implied in such those statements. Galp and its respective representatives, agents, employees or advisers do not intend to, and expressly disclaim any duty, undertaking or obligation to, make or disseminate any supplement, amendment, update or revision to any of the information, opinions or forward-looking statements contained in this document to reflect any change in events, conditions or circumstances. This document does not constitute investment advice nor forms part of and should not be construed as an offer to sell or issue or the solicitation of an offer to buy or otherwise acquire securities of Galp or any of its subsidiaries or affiliates in any jurisdiction or an inducement to engage in any investment activity in any jurisdiction.

1

Date:22 October 2015

ESMA/2015/1597

Standard form for notification of major holdings

NOTIFICATION OF MAJOR HOLDINGS (to be sent to the relevant issuer andto the competent authority)i

  1. Identity of the issuer or the underlying issuer of existing shares to which voting rights are at- tachedii:
    Galp Energia SGPS SA
    RUA TOMÁS DA FONSECA, TORRE C, LISBOA, PT-11,1600-209, PT
  2. Reason for the notification (please tick the appropriate box or boxes):

[X] An acquisition or disposal of voting rights

[] An acquisition or disposal of financial instruments [ ] An event changing the breakdown of voting rights [ ] Other (please specify)iii:

3. Details of person subject to the notification obligationiv :

Name:

City and country of registered office (if applicable):

Pendal Group Limited

Level 14, The Chifley Tower 2 Chifley Square, Sydney, 2000, NSW,

Australia

  1. Full name of shareholder(s) (if different from 3.)v:
  2. Date on which the threshold was crossed or reachedvi:
    2021-11-19
  3. Total positions of person(s) subject to the notification obligation:

% of voting rights

% of voting rights

Total number of

through financial in-

Total of both in %

attached to shares

voting rights of

struments

(7.A + 7.B)

(total of 7.A)

issuervii

(total of 7.B.1 + 7.B.2)

Resulting situation

on the date on which

1.33%

0.00%

1.33%

829,250,635.00

threshold was

crossed or reached

Position of previous

notification (if appli-

2.03%

0.00%

2.03%

cable)

1

Type of finan- cial instrument
Type of financial instrument
SUBTOTAL A
SUBTOTAL B.1
B 2: Financial Instruments with similar economic effect according to Art. 13(1)(b) of Directive 2004/109/EC
Expiration datex
Exercise/ Conversion Periodxi
% of voting rights
B 1: Financial Instruments according to Art. 13(1)(a) of Directive 2004/109/EC
Number of voting rights that may be acquired if the in- strument is exer- cised/ converted.
11,078,555
1.33%
11,078,555
1.33%
(Art 9 of Directive
2004/109/EC)
(Art 10 of Directive
2004/109/EC)
(Art 9 of Directive
2004/109/EC)
(Art 10 of Directive
2004/109/EC)
Indirect
Indirect
% of voting rights
Direct
7. Notified details of the resulting situation on the date on which the threshold was crossed or reachedviii:
A: Voting rights attached to shares
Class/type of Number of voting rightsix
sharesDirect ISIN code (if possi-
ble)
PTGAL0AM0009

Expiration

Exercise/

Physical or

Number of

% of voting

Conversion

cash settle-

voting

datex

rights

Period xi

mentxii

rights

SUBTOTAL B.2

2

8. Information in relation to the person subject to the notification obligation (please tick the applica- ble box):

[ ] Person subject to the notification obligation is not controlled by any natural person or legal entity and does not control any other undertaking(s) holding directly or indirectly an interest in the (underlying) issuer.xiii

[X ] Fullchain of controlled undertakings through which the voting rights and/or the

financial instruments are effectively held starting with the ultimate controlling natural person or legal entityxiv:

% of voting rights if it

% of voting rights

Total of both if it

through financial

equals or is higher

equals or is higher

Namexv

instruments if it equals

than the notifiable

than the notifiable

or is higher than the

threshold

threshold

notifiable threshold

Pendal Group Limited

1.33

0.00

1.33

Pendal UK Limited

1.33

0.00

1.33

J O Hambro Capital

1.33

0.00

1.33

Management Holdings

Limited

J O Hambro Capital

1.33

0.00

1.33

Management Limited

JOHCM (Singapore) Pte

0.00

0.00

0.00

Limited

  1. In case of proxy voting: [name of the proxy holder] will cease to hold [% and number] voting rights as of [date]
  2. Additional informationxvi:

Done at Sydney

3

Annex: Notification of major holdings (only to be filed with competent authority and notwith the relevant issuer)

A: Identity of the person subject to the notification obligation

Full name (including legal form for legal entities)

Pendal Group Limited

Contact address (registered office for legal entities)

Level 14, The Chifley Tower 2 Chifley Square, Sydney, 2000, NSW, Australia

E-Mail

dlsubstantialshareholding@pendalgroup.com

Phone number / Fax number

+61 2 9220 2000

Other useful information (at least legal a contact person for legal persons)

B: Identity of the notifier, if applicable

Full name

Contact address

E-Mail

Phone number / Fax number

Other useful information (e.g. functional relationship with the person or legal entity subject to the notification obliga- tion)

C: Additional information:

4

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Galp Energia SGPS SA published this content on 22 November 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 22 November 2021 19:14:03 UTC.