Sonae SGPS

AGM Information • Apr 10, 2019

EXTRACT OF THE MINUTES NUMBER 49 OF THE SHAREHOLDERS GENERAL MEETING OF SONAE SIERRA, SGPS, SA, HELD ON 10 APRIL 2019, RELATED WITH THE APPROVAL OF THE ANNUAL ACCOUNTS AND THE APPLICATION OF RESULTS:

Then he declared the meeting open and going directly into item one of the agenda he read the following proposal of the Board of Directors:

Proposal

It is proposed that the Individual Annual Report and Accounts together with corresponding Annexes, for the year 2018, be approved as presented.

The proposal was approved by unanimity.

The Chairman of the General Meeting opened to discussion item number two of the agenda and read the following proposal of the Board of Directors:

Proposal________

It is proposed that the Consolidated Annual Report and Accounts together with corresponding Annexes, for the year 2018, be approved as presented.____________________________________

The proposal was approved by unanimity.

The Chairman of the General Meeting opened to discussion item number three of the agenda and read the following proposal of the Board of Directors:

____________________________________

Proposal Proposal

To approve the allocation of the negative net result of 2018, in the amount of €3.704.593,93, to Carried Forward Results.__

The Board of Directors further proposes a distribution of Free Distributable Reserves, in the amount of $€115.099.560,00$ , with the value of $€3,54$ per share.

Sonae Sierra, SGPS, S.A. Lugardo Espido Via Norte Apartado 1197 4471-909 Maia Portugal

T1+351122 940 17 00 F (+351) 22 010 44 64

www.sonaesierra.com

After analysis and discussion, the shareholders, unanimously, decided to approve the proposal for the application of results and that the payment of the distribution of such Free Distributable Reserves be executed until the end of May".

_Maia, 10 April 2019_

The Secretary of the Company,

(Joaquim Pereira Mendes)

Sonae Sierra, SGPS, S.A. Lugar do Espido Via Norte Apartado II97 4471-969 Maia

T (+351) 22 940 17 00 F (+351) 22 010 44 64

www.sonaesierra.com