PHAROL, SGPS, S.A.

M&A Activity • Sep 29, 2017

Announcement | Lisbon | 29 September 2017

Corporate Reorganization – Bratel S.à.r.l. - Conclusion

PHAROL, SGPS S.A. ("PHAROL") hereby informsthat, pursuant to the terms and for the purposes of articles 244 of the Portuguese Securities Code and the Portuguese Securities Commission Regulation no. 5/2008, following the press release of September 15, the Corporate Reorganization promoted by BRATEL B.V. and BRATEL S.à.r.l. was finalized successfully after all the process has been completed.