PHAROL, SGPS, S.A.

Delisting Announcement • Aug 30, 2022

Announcement | Lisbon | 30 August 2022

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

Reply to B3 Official Letter 853/2022-SLS on the procedures to have its share price adapted to local rules

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 Instruction No. 44/21, further to the Material Fact dated on May 31, 2022, hereby informs its shareholders and the market in general that:

• 1) It received an Official Letter 853/2022-SLS sent by B3 S.A. Brasil, Bolsa Balcão ("B3"), informing that, in the period from July 01, 2022 to August 11, the common shares issued by the Company remained quoted below R\$1.00 per unit, and requesting that the Company disclose, by September 01, 2022, procedures and schedule that will be adopted to have its shares traded at a price equal to or higher than R\$1.00, (i) on or prior to February 17, 2023 or (ii) by the date of the first general meeting to be called following the receipt of this notification, whichever occurs first.
• 2) In view of this fact and in compliance with what has been determined by B3, the Company informs that it will be submitted to the Company's Board of Directors, a proposal for a reverse split of shares for the resolution of shareholders at an Extraordinary General Meeting to be called and held this year.

The Company will keep its shareholders and the market informed of any development regarding the subject matter of this Material Fact.

Rio de Janeiro, August 29, 2022.

Oi S.A. – In Judicial Reorganization

Cristiane Barretto Sales Chief Financial and Investor Relations Officer