Samba Digital SGPS S.A

Major Shareholding Notification • Nov 27, 2018

Lugar do Espido, Via Norte Apartado 3053 4471-907 Maia Portugal

T (+351) 22 010 79 03

SONAE CAPITAL, SGPS, SA Publicly Traded Company Registered Office: Lugar do Espido, Via Norte, Maia Share Capital: 250,000,000.00 Euro Registered at the Commercial Registry of Maia Registration and Tax Nº 508 276 756

(translation from the Portuguese original)

Sonae Capital, SGPS, S.A. informs, as required by article 17 of the Portuguese Securities Code, that it has received today a communication from Quaero Capital S.A. as shown in the following pages.

Maia, 27 th November 2018

The Representative for Capital Market Relations,

Date:22 October 2015 ESMA/2015/1597

Standard form for notification of major holdings

NOTIFICATION OF MAJOR HOLDINGS (to be sent to the relevant issuer and to the competent authority)
1. Identity of the issuer or the underlying issuer of existing shares to which voting rights are at- tached ® : Sonae Capital SGPS SA
		2. Reason for the notification (please tick the appropriate box or boxes):
[X] An acquisition or disposal of voting rights [] An acquisition or disposal of financial instruments [] An event changing the breakdown of voting rights [] Other (please specify) iii :
	3. Details of person subject to the notification obligation ® :
Name: Quaero Capital S.A.		City and country of registered office (if applicable): Geneva, Switzerland
4. Full name of shareholder(s) (if different from 3.): Quaero Capital Funds (Lux) - Argonaut Quaero Capital Funds (Lux) - Smaller European Companies
5. Date on which the threshold was crossed or reached ® : 2018-11-22
6. Total positions of person(s) subject to the notification obligation:
	% of voting rights at- tached to shares (to- tal of 7.A)	% of voting rights through financial instru- ments $(total of 7.B.1 + 7.B.2)$	Total of both in % $(7.A + 7.B)$	Total number of voting rights of is- Suervii
Resulting situation on the date on which threshold was crossed or reached	4.92%	0.00%	4.92%	250,000,000.00
Position of previous notification (if appli- cable)	5.05%	0.0%	5.05%

7. Notified details of the resulting situation on the date on which the threshold was crossed or reached^vii:

A: Voting rights attached to shares
Class/type of	Number of voting rights *		% of voting rights
shares ISIN code (if possible)	Direct (Art 9 of Directive 2004/109/EC)12,322,845.00	Indirect (Art 10 of Directive 2004/109/EC)	Direct (Art 9 of Directive 2004/109/EC)4.92%	Indirect (Art 10 of Directive 2004/109/EC)
SUBTOTAL A	12,322,845.00		4.92%

		B 1: Financial Instruments according to Art. 13(1)(a) of Directive 2004/109/EC
Type of financial instrument	Expira- tion date x	Exercise/ Conversion Periodxi	Number of voting rights that may be acquired if the in- strument is exer- cised/ converted.	% of voting rights
		SUBTOTAL B.1

			B 2: Financial Instruments with similar economic effect according to Art. 13(1)(b) of Directive 2004/109/EC (Note that holdings held via indices, baskets and ETFs would be displayed here as asset class "Equity" or "Preferred Equity" so please update this to the correct name accordingly)
Type of finan- cial instru- ment	Expiration date x	Exercise/ Conversion Period *i	Physical or cash settle- ment xii	Number of voting rights	% of voting rights
			SUBTOTAL B.2

1. Information in relation to the person subject to the notification obligation (please tick the applicable box):

[X] Person subject to the notification obligation is not controlled by any natural person or legal entity and does not control any other undertaking(s) holding directly or indirectly an interest in the (underlying) issuer.xiii

[ ] Full chain of controlled undertakings through which the voting rights and/or the financial instruments are effectively held starting with the ultimate controlling natural person or legal entityxiv:

Name xv	% of voting rights if it equals or is higher than the notifiable threshold	% of voting rights through financial in- struments if it equals or is higher than the notifiable threshold	Total of both if it equals or is higher than the notifiable threshold

1. In case of proxy voting: [name of the proxy holder] will cease to hold [% and number] voting rights as of $[date]$

2. Additional information voi:

Done at Please fill in the city where the reporting person is located on 2018-11-22.