Patris Investimentos

Legal Proceedings Report • Dec 23, 2016

SDC Investimentos, SGPS, SA

23.12.2016 MATERIAL INFORMATION

SDC INVESTIMENTOS, SGPS, S.A. INFORMS ON IMPARITY CONSTITUTION IN THE CONSTRUCTION AREA

The Board of Directors informs that, having considered, based on the information available in the public domain, the situation and prospects of its subsidiary SDC Construção SGPS S.A., in which management the Board has no significant influence, decided in what concerns the fair value of this investment, without prejudice to its rights under the strategic partnership and the Shareholder Agreement signed with GAM Holdings, SA, majority shareholder of SDC Construção SGPS S.A., to constitute an imparity in the account "Other financial assets". The impact on the consolidated shareholder´s equity is of -33.500.000 Euros.

SDC Investimentos, SGPS, SA

SDC Investimentos, SGPS, SA, Public Company Rua Julieta Ferrão, 12- 14º andar, 1649-039 Lisboa PORTUGAL Share Capital 160.000.000 Euros | Registered under the number 500 265 763

Corporate Official Representative for the Capital Markets António Frada | Tel. 22 242 1060

Investor Relations Tel. 21 013 4370 | geral@sdcinvestimentos.pt

www.sdcinvestimentos.pt