Sonae SGPS

Regulatory Filings • Mar 1, 2021

Maia, 1 st March 2021

(Translation from the Portuguese original)

ANNOUNCEMENT

Sonae SGPS, SA hereby announces that, as communicated on January 13th, 2021, the transaction entered into by its subsidiary Worten – Equipamentos do Lar, S.A. regarding the sale of 17 stores in Spain Mainland to Media Markt Saturn S.A.U, has been completed, following approval from the competent competition authority. This transaction has generated proceeds of €5 M to Worten. The estimated impact in Sonae's consolidated accounts will be a reduction of 1% in consolidated turnover and an improvement of aproximately 0.1 p.p. in consolidated underlying EBITDA margin, related to 2019 figures.

As previously announced, this transaction is part of a wider reorganisation which also includes the closure of 14 additional stores in Spain Mainland. In total, this reorganisation will have a significant strategic and financial impact in Worten with an expected increase of the underlying EBITDA margin from 5.2% in 2019 to over 6.5% post-reorganisation.

The Representative for Market Relations,

Head Office Lugar do Espido, Via Norte, Maia Share Capital: €2.000.000.000,00 Maia Commercial Registry and Fiscal Number 500273170 Sociedade Aberta

For further information, please contact the Investor Relations Department at Sonae:

PATRÍCIA VIEIRA PINTO Head of Investor Relations / Sonae T. +351 220 104 724 // E. pavpinto@sonae.pt

www.sonae.pt