Sonae SGPS

M&A Activity • Dec 2, 2022

Announcement

(Translation from the Portuguese original)

Maia, 02 December 2022

Sonae SGPS, SA ("Sonae" or "Group") hereby informs that, following the announcement made on 23 December 2021, its subsidiary Universo, GC, SA ("Universo") completed the sale of its 50% shareholding in MDS SGPS, SA ("MDS Group" or "MDS") to Ardonagh Global Partners – Project Macau, Unipessoal Lda., an entity fully owned by The Ardonagh Group Limited ("The Ardonagh Group").

The transaction now completed results in proceeds of €104 million and a capital gain of €79 million for Sonae.

This transaction will not impact Sonae's consolidated turnover nor underlying EBITDA, as MDS was already consolidated through the equity method in the Group's accounts.

The longstanding partnership between Sonae and IPLF Holding, together with the quality of the management team of MDS, created the conditions for the company's sustained development throughout the years. The current transaction is now expected to enhance the company's growth potential and future success story.

The Representative for Market Relations,

For further information, please contact the Investor Relations Department at Sonae: Ricardo Figueiredo da Rocha Head of Investor Relations / Sonae T. +351 220 104 724 // E. rjfrocha@sonae.pt www.sonae.pt