NOS SGPS

Capital/Financing Update • Mar 27, 2020

NOS, SGPS, S.A. Public Company Registered Office: Rua Ator António Silva 9 Campo Grande 1600-404 Lisbon Share Capital: 5,151,613.80 Euros Registered in the Commercial Registry Office of Lisbon and Corporation no. 504 453 513

ANNOUNCEMENT

NOS hereby informs that it has reached agreements regarding the contractual terms for three financing deals for a total amount of 280 million euros, with three banking institutions:

• 100 million euros maturing in 2025, with Santander, to refinance existing facilities that mature in 2020;
• 90 million euros with BPI and 90 million euros with BBVA, both maturing in 12 months with a view to increase liquidity.

These transactions will enable NOS to refinance all facilities maturing in 2020 and will significantly increase its liquidity position, whilst increasing average debt maturity and maintaining a very attractive average cost of debt.

This information is also available on NO Investor Relations website in www.nos.pt/ir.

Lisbon, 27 March 2019

Contacts Maria João Carrapato Head of Investor Relations Email: ir@nos.pt Tel.: +351 21 782 4725 Fax: +351 21 782 4735