PHAROL, SGPS, S.A.

Legal Proceedings Report • Feb 2, 2023

Announcement | Lisbon | 2 February 2023

Material Fact disclosed by Oi

PHAROL, SGPS S.A. hereby informs on the Material Fact disclosed by Oi, S.A., according to the company's announcement attached hereto.

Oi S.A. – In Judicial Reorganization Federal Taxpayers' (CNPJ/ME) No. 76.535.764/0001-43 Board of Trade (NIRE) No. 33 3 0029520-8 Publicly-held Company

MATERIAL FACT

Oi S.A. – In Judicial Reorganization ("Oi" or the "Company"), in accordance with Paragraph 4 of Article 157 of Law No. 6,404/76 and the provisions of CVM Resolution No. 44/21, further to the Material Facts disclosed on October 27, 2022 and December 31, 2022, hereby informs its shareholders and the market in general that the Company and its subsidiaries Portugal Telecom International Finance B.V. and Oi Brasil Holdings Coöperatief U.A. petitioned the 7 th Corporate Court of Justice of the State of Rio de Janeiro ("Court"), in the context of discussions and negotiations with Oi's creditors involving a potential renegotiation of certain of the Company's debts, the request for urgent injunctive relief, in secrecy of justice, as is customary in requests such as this, for suspension of the enforceability of certain obligations assumed by the Company, aiming to protect its cash and, consequently, the continuity of negotiations with its creditors in a balanced and transparent manner.

The Company awaits the decision of the aforementioned Court and will keep its shareholders and the market informed about the decision of the Court and of the developments related to this matter.

Rio de Janeiro, February 2, 2023.

Oi S.A. – Em Recuperação Judicial Cristiane Barretto Sales Chief Financial and Investor Relations Officer