PHAROL, SGPS, S.A.

Report Publication Announcement • Jul 31, 2015

Announcement | Lisbon | 31 July 2015

CHANGE OF PHAROL'S REGISTERED OFFICE

PHAROL, SGPS S.A. ("PHAROL") announces that, by resolution of its Board of Directors, pursuant to paragraph 2 of Article 2 of the Bylaws, has moved its registered office to Rua Joshua Benoliel, 1, 2C, Edifício Amoreiras Square, 1250 -133, Lisboa.

PHAROL, SGPS S.A.

Public company Share capital Euro 26,895,375 Registered in the Commercial Registry Office of Lisbon and Corporation no. 503 215 058

PHAROL is listed on the Euronext (PHR). Information may be accessed on Bloomberg under the symbol PHR PL.

Luis Sousa de Macedo Investor Relations Director ir@pharol.pt Tel.: +351 21 500 1701 Fax: +351 21 500 0800