NOS SGPS

AGM Information • Apr 26, 2016

NOS, SGPS, S.A.

Public Company Registered Office: Rua Actor 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

ANNUAL GENERAL SHAREHOLDERS MEETING

Lisbon, 26 April 2016 - The annual General Shareholders' Meeting of NOS, SGPS, S.A. ("NOS" or "Company") was held this afternoon.

The proposals concerning the items of the agenda were approved as follows:

• Approval of the management report, balance sheet and accounts, individual and consolidated and corporate governance report of the Company, concerning the financial year of 2015;
• Approval of the application and distribution of the 2015 net income, in the following terms:
• o Payment of a global total of 0.16 Euros per share (regarding the aggregate number of issued shares), as a result of the payment to shareholders of net income in the amount of 49,472,031.63 Euros, accrued of 32,953,789.17 Euros of retained earnings, in a total of 82,425,820.80 Euros;
• o Allocation of the amount of de 2,525,977.05 Euros to free reserves;
• o Payment to the Directors, under the terms of subparagraph 3 of article 14 of the Articles of Association, of an amount of 1,013.800 Euros, under the criterion established by the Board of Directors.

• Approval of a vote of praise and confidence to each and every one of the members of the Board of Directors and its Executive Committee, the Fiscal Board, and the Statutory Auditor;

• Approval of the Remuneration Committee statement on the remuneration policy for the members of the management and supervisory bodies of the Company;

• Approval of the acquisition and disposal of own shares;
• Approval of the acquisition and disposal of own bonds;
• Approval of the election of the Corporate Bodies for the term-of-office corresponding to the three-year period of 2016/2018, in accordance with the following:

Board of Directors:

Chairman of the Board of Directors:

Jorge de Brito Pereira

Members of the Board of Directors:

Ana Paula Garrido de Pina Marques André Nuno Malheiro dos Santos Almeida Ângelo Gabriel Ribeirinho dos Santos Paupério António Bernardo Aranha da Gama Lobo Xavier António Domingues Catarina Eufémia Amorim da Luz Tavira Van-Dúnem Isabel dos Santos João Pedro Magalhães da Silva Torres Dolores Joaquim Francisco Alves Ferreira de Oliveira Jorge Filipe Pinto Sequeira dos Santos Graça José Pedro Pereira da Costa Lorena Solange Fernandes da Silva Fernandes Manuel António Neto Portugal Ramalho Eanes Maria Cláudia Teixeira de Azevedo Mário Filipe Moreira Leite da Silva Miguel Nuno Santos Almeida

Board of the General Meeting:

Chairman: Pedro Canastra de Azevedo Maia Secretary: Tiago Antunes da Cunha Ferreira de Lemos

Fiscal Board:

Chairman: Paulo Cardoso Correia Mota Pinto Member: Eugénio Luís Lopes Franco Ferreira Member: Patrícia Teixeira Lopes Alternate member: Luis Filipe da Silva Ferreira

Approval of the appointment of the Statutory Auditor and alternate, for the three-year period of 2016/2018, in accordance with the following:

Statutory Auditor:

ERNST & YOUNG AUDIT & ASSOCIADOS, SROC, S.A., taxpayer number 505 988 283, with registered offices at Avenida da República, no. 90 - 6°, 1600 - 206 Lisbon, registered at the OROC under the number 178 and registered at CMVM under the number 9011, represented by Ricardo Filipe de Frias Pinheiro, (ROC no. 739) with professional address at Rua Frei Joaquim Sta. Rosa de Viterbo, no. 7 - 8°A, 1600-230 Lisbon.

Alternate:

Paulo Jorge Luís da Silva, taxpayer number 198 341 571, ROC no. 1334, with professional address at Rua de Sant'Ana, 1640, home no. 6, 2750-833 Cobre.

Approval of the appointment of the Remuneration Committee, for the term-of-office corresponding to the three-year period of 2016/2018, in accordance with the following:

Ângelo Gabriel Ribeirinho dos Santos Paupério Mário Filipe Moreira Leite da Silva

This information is also available on NOS' Investor Relations website in www.nos.pt/ir.

Lisbon, 26 April 2016

Contacts

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