Cofina SGPS

Share Issue/Capital Change • Nov 30, 2023

COFINA – SGPS, S.A. Sociedade Emitente de Ações Admitidas à Negociação em Mercado Regulamentado Sede: Rua Manuel Pinto de Azevedo, 818, 4100-320 Porto Capital Social: Euro 25.641.459 Matriculada na Conservatória do Registo Comercial do Porto sob o número único de matrícula e identificação fiscal 502 293 225

ANNOUNCEMENT

As published by Cofina SGPS, S.A. ("Cofina SGPS") on the same day through an announcement to the market and further detailed therein, on 8 November 2023, the sale of the entire share capital and voting rights ("Shares") of Cofina Media, S.A. ("Cofina Media") was completed, as per the terms outlined in the final revised proposal (Best and Final Offer) subscribed by (i) members of the management team of Cofina Media; (ii) executives of such subsidiar; and (iii) a group of investors, namely: Luis Santana, Ana Dias, Octávio Ribeiro, Isabel Rodrigues, Carlos Rodrigues, Luis Ferreira, Carlos Cruz, Cristiano Ronaldo, Domingos Vieira de Matos, Paulo Fernandes and João Borges de Oliveira, through the vehicle company Expressão Livre, SGPS, S.A., which assigned its contractual position in the share purchase agreement executed in the context of the Transaction to Expressão Livre II, SGPS, S.A., which acquired Shares of Cofina Media ("Transaction").

Following the aforementioned announcement and in addition thereto, as well as after having received a request from the Portuguese Securities Market Commission in this regard, Cofina SGPS hereby further informs that, as a result of the Transaction, the best estimate up to the present date of the capital gain at the level of the consolidated financial statements of Cofina SGPS, considering (i) the price; (ii) the estimated provisional costs associated with the Transaction as of the present date; and (iii) the unaudited provisional figures of the net assets of the subsidiary Cofina Media, amounts to approximately EUR 8 million euros ("Estimated Capital Gain").

Notwithstanding the abovementioned and due to this being a mere estimation, which is also subject to validation by the auditors of Cofina SGPS, it is further clarified that the disclosure of the exact value of the capital gain realised with the completion of the Transaction (i) may therefore not correspond exactly to the value of the Estimated Capital Gain; and (ii) will occur together with the publication of Cofina SGPS's annual Report and Accounts for 2023, in accordance with applicable legal provisions.

Oporto, 30 November 2023

The Board of Directors,