NOS SGPS

Capital/Financing Update • Sep 9, 2019

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

Fitch affirms BBB long term issuer credit rating and stable Outlook

Lisbon, 09 September 2019 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:

Fitch considers NOS´ rating to reflect its strong market position an operating profile that combines well established and consistently positive key performance indicators (KPI), its diversified revenue mix, solid growth Fitch also states that NOS combines a stable and sound financial profile with one of the most developed business profiles among its European peers.

Maintaining its investment grade long term issuer credit rating with Fitch 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, 09 September 2019

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