Sonae SGPS

M&A Activity • Feb 22, 2024

Announcement

(Translation from the Portuguese original)

Maia, 22 February 2024

The Consortium led by Sonae has secured the control of Musti

Sonae SGPS SA ("Sonae") informs that, in the scope of the ongoing voluntary public tender offer (the "Offer") for all Musti Group Plc ("Musti" or "Company") issued and outstanding shares ("Shares"), launched by its subsidiary, Flybird Holding Oy (the "Offeror"), and following the acquisition of Shares in the market, the Offeror has already secured 50.10 per cent of all issued Shares. This stake considers the total acceptances received during the Offer period which ended on 15 February 2024, together with the Shares acquired or held by the Offeror (including the Shares to be contributed to the Offeror by the Consortium members).

As previously announced by Sonae on 20 February 20241 , the Offeror has started a subsequent offer period for the Shares in accordance with the terms and conditions of the Offer (the "Subsequent Period"), which is set to expire on 06 March 2024, and its preliminary results are expected to be known on 07 March 2024.

The English language translation of Musti's announcement is available on the internet at https://www.mustigroup.com/releases-and-publications/.

Further announcements will be made as and when deemed appropriate in compliance with applicable laws and regulations, and the recommendations of the Portuguese and Finnish market regulators.

Sonae expects to complete the Offer during the first quarter of 2024.

The Representative for Market Relations,

Head Office

• Lugar do Espido, Via Norte, Maia
• Share Capital: €2,000,000,000.00

Maia Commercial Registry and Fiscal Number 500273170

For further information, please contact the Investor Relations Department at Sonae:

Ricardo Figueiredo da Rocha Head of Investor Relations / Sonae T. +351 220 104 794 // E. rjfrocha@sonae.pt www.sonae.pt

¹ Available in the link: https://sonae.pt/en/sonae/comunicados/click.php?id=1418