PHAROL, SGPS, S.A.

Legal Proceedings Report • Nov 18, 2025

Announcement | Lisbon | 18 November 2025

Reimbursement from the Tax Authority

PHAROL, SGPS S.A. ("PHAROL") informs that it has received from the Tax Authority the amount of 1.21 million euros, referring to interest associated with the Portuguese

Corporate Income Tax (IRC) process for the year 2005.

That reimbursement is the result of the enforcement of court decisions in favour of

PHAROL in the context of those proceedings. As in the first half of 2025, this figure

will have a positive impact on the result of the year.

All tax processes that are still active are subject to regular analysis and monitoring,

in conjunction with PHAROL's tax consultants. As already stated in the report for the

first half of 2025, the overall value of tax contingencies amounted to 151.3 million

euros.

Within this amount, the cases with possible or probable risk of loss for PHAROL

amount to the amount of around 12.2 million Euros, from which the value of 10.5

million Euros of corrections favorable to the company may be deducted.

PHAROL will continue to strictly monitor the evolution of these processes and will

keep the market informed in accordance with the law.