Sonae Capital : SGPS, SA informs on Qualified Holding

SONAE CAPITAL, SGPS, SA

Publicly Traded Company

Registered Office: Lugar do Espido, Via Norte, Maia

Share Capital: € 250,000,000.00

Registered at the Commercial Registry of Maia

Registration and Tax Nr. 508 276 756

(Translation from the Portuguese original)

NOTICE ON QUALIFIED SHAREHOLDING

Sonae Capital, SGPS, S.A. informs, as required by article 17 of the Portuguese Securities Code, that it has received today a communication from Efanor Investimentos, SGPS, SA, as shown in the following pages.

Maia, 24 September 2020

The Representative for Capital Market Relations,

Head Office

Lugar do Espido, Via Norte

Apartado 3053 | 4471-907 Maia

Portugal

For further information, please contact Sonae Capital Investor Relations Department:

Nuno Parreiro

1. [e-mail] T. 22 010 79 11

www.sonaecapital.pt

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:
   SONAE CAPITAL SGPS SA
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):
EFANOR Investimentos SGPS SA	Porto, Portugal

1. Full name of shareholder(s) (if different from 3.)v:
2. Date on which the threshold was crossed or reachedvi: 21/09/2020
3. Total positions of person(s) subject to the notification obligation:

	% of voting rights at-	% of voting rights		Total number of
	through financial instru-	Total of both in %
	tached to shares (to-	voting rights of is-
	ments	(7.A + 7.B)
	tal of 7.A)	suervii
	(total of 7.B.1 + 7.B.2)
Resulting situation
on the date on which	66,715%		66,715%	165.276.953
threshold was
crossed or reached
Position of previous	62,266%		62,266%	155.666.085
notification (if appli-
cable)

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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		% of voting rights
shares
Direct	Indirect	Direct	Indirect
ISIN code (if possi-
(Art 9 of Directive	(Art 10 of Directive	(Art 9 of Directive	(Art 10 of Directive
ble)
2004/109/EC)	2004/109/EC)	2004/109/EC)	2004/109/EC)
	98.643.262	68.145.063	39,457%	27,258%
SUBTOTAL A	98.643.262	68.145.063	39,457%	27,258%

B 1: Financial Instruments according to Art. 13(1)(a) of Directive 2004/109/EC

			Number of voting rights
Type of financial in-	Expiration	Exercise/	that may be acquired if	% of voting rights
strument	datex	Conversion Periodxi	the instrument is exer-
			cised/ converted.

SUBTOTAL B.1

B 2: Financial Instruments with similar economic effect according to Art. 13(1)(b) of Directive 2004/109/EC

Type of financial	Expiration	Exercise/	Physical or cash	Number of
Conversion Pe-	% of voting rights
instrument	datex	settlementxii	voting rights
riod xi

SUBTOTAL B.2

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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 en- tity and does not control any other undertaking(s) holding directly or indirectly an interest in the (underlying) issuer.xiii

[ ] 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

Namexvequals or is higher than the notifiable

threshold

• of voting rights through financial in- struments if it equals or is higher than the notifiable threshold

Total of both if it

equals or is higher than the notifiable threshold

EFANOR Investimentos	39,457%	39,457%
SGPS SA
Pareuro BV	26,640%	26,640%
Maria Margarida Carva-	0,336%	0,336%
lhais Teixeira de Aze-
vedo1
Maria Cláudia Teixeira	0,180%	0,180%
de Azevedo2
Linhacom SGPS SA3	0,018%	0,018%
Migracom SGPS SA4	0,085%	0,085%

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:

• (member of the board of directors of Efanor Investimentos SGPS SA)

• (member of the board of directors of Efanor Investimentos SGPS SA and of Sonae Capital, SGPS, S.A.)
  3 (company controlled by the member of the board of directors of Efanor Investimentos SGPS SA and of Sonae Capital, SGPS, S.A., Cláudia Azevedo)
  4 (company controlled by the member of the board of directors of Efanor Investimentos SGPS SA and of Sonae Capital, SGPS, S.A., Paulo Azevedo)

Done at Oporto on the 24th of September 2020.

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