NOS SGPS

Regulatory Filings • Feb 13, 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

S&P Global Ratings affirms BBB- long term issuer credit rating and stable Outlook

Lisbon, 13 February 2020 Pursuant to the terms and for the purposes of article 248-A of the Portuguese Securities code and , NOS, SGPS, S.A. (NOS) hereby informs:

• Stable Outlook.

S&P considers that NOS key strengths are Pay -mobile offering, strong local content, a well- .

Maintaining its investment grade long term issuer credit rating with S&P enables NOS to reinforce the conditions to further diversify its sources of funding, extend average debt maturity and continue to reduce the already low average cost of debt.

This information is also available on NOS www.nos.pt/ir.

Lisbon, 13 February 2020

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