PHAROL, SGPS, S.A.

Legal Proceedings Report • Feb 10, 2022

Announcement | Lisbon | 10 February 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' Registry (CNPJ/MF) No. 76.535.764/0001-43 Board of Trade (NIRE) No. 33.3.0029520-8 Publicly-Held Company

MATERIAL FACT

Mobile Assets UPI Disposal CADE's Approval

Oi S.A. – In Judicial Reorganization ("Oi" or the "Company"), pursuant to article 157, paragraph 4, of Law No. 6,404/76 (the "Brazilian Corporation Law"), and CVM Resolution no. 44/2021, and further to the information contained in the Notices to the Market released on January 29, 2021 and February 1, 2022 and Material Facts dated June 15, 2020, September 7, 2020, December 14, 2020 and January 31, 2022, hereby informs its shareholders and the market in general that it has learned that the Administrative Court of the Council for Economic Defense (Conselho Administrativo de Defesa Econômica – CADE), in deliberation at the 190th Ordinary Trial Session occurred on this date, approved the transaction of the sale of Isolated Production Units, or "UPI", Mobile Assets ("Transaction") by the Company and Oi Móvel S.A – In Judicial Reorganization for the companies Claro S.A., Telefônica Brasil S.A. and Tim S.A., subject to the execution and fulfillment of the Merger Control Agreement (Acordo em Controle de Concentrações). As soon as the Trial Certificate is made available, the Company will disclose their full content.

The Company will keep its shareholders and the market informed of any relevant development regarding the Transaction.

Rio de Janeiro, February 9, 2022.

Oi S.A. – In Judicial Reorganization Cristiane Barretto Sales Chief Financial Officer and Investor Relations Officer