CTT-Correios de Portugal

Regulatory Filings • Jan 26, 2023

CTT – Correios de Portugal, S.A. Av. dos Combatentes, 43 – 14th Floor 1643-001 LISBOA Lisbon commercial registry and fiscal no. 500 077 568 Share Capital EUR 72,675,000.00

Announcement – Lisbon, 26 January 2023

Material information

CTT - Correios de Portugal, S.A. ("CTT" or "Company") hereby informs that the update of the prices of the basket of letter mail, editorial mail and parcels services¹ , corresponding to a 6.58% average annual price variation, will take effect from 1 March 2023.

This update results from the application of the Universal Postal Service Price Convention for the 2023-2025 period, which was entered into on 27 July 2022 and stipulates a maximum annual variation of the basket of services covered by the Convention calculated in accordance with the following formula:

CPI - ∆Volumes * (1 - 16%² ) – 0.5%³ + K, which in 2023 translates as follows:

CPI: Average rate of change in the Consumer Price Index over the last 12 months up to June of the previous year (2022)4	4.05%
∆Volumes: Variation in the volume of the services covered by the Convention, reported in the 12-month period ending in June of the previous year (reserved and non-reserved services, excluding bulk mail within the special price scheme)	-3.61%
K: Factor to be applied in the event of significant changes in the context	0.00%
Maximum price variation – year 2023	6.58%

As part of the company's pricing policy for 2023, this update corresponds to an average annual price variation of 6.24%, which also reflects the effect of the update of the special prices for bulk mail.

¹ Does not include the universal service offer to bulk mailers who benefit from a special price scheme.

²VC - Indicator of the weight of variable costs (set at 16% for each year).

³E - Efficiency factor associated with CTT's activity within the scope of universal postal service provision (set at 0.5% for each year).

⁴ Source: INE - Consumer Price Index (Average rate of change over the last 12 months - Base 2012 - %).

CTT – Correios de Portugal, S.A. Av. dos Combatentes, 43 – 14th Floor 1643-001 LISBOA Lisbon commercial registry and fiscal no. 500 077 568 Share Capital EUR 72,675,000.00

This information to the market and the general public is made under the terms and for the purposes of article 29-Q of the Portuguese Securities Code and other legislation in force in Portugal. It is also available on CTT website at:

https://www.ctt.pt/grupo-ctt/investidores/comunicados/index?language_id=1.

CTT – Correios de Portugal, S.A.

Guy Pacheco Market Relations Representative of CTT Nuno Vieira Head of Investor Relations of CTT Contacts: Email: investors@ctt.pt I Fax: + 351 210 471 996 I Phone: + 351 210 471 087