CTT-Correios de Portugal

Board/Management Information • May 10, 2019

CTT - Correios de Portugal, S.A. Public Company Avenida D. João II, 13 1999-001 LISBON Lisbon commercial registry and fiscal no. 500 077 568 Share Capital EUR 75,000,000.00

Announcement - Lisbon, 10 May 2019

Material information - Resignation of the Vice-Chairman and CEO

CTT - Correios de Portugal, S.A. ("CTT" or "Company") hereby informs that today Mr Francisco de Lacerda, Vice-Chairman of the Board of Directors and CEO of the Company, tendered his resignation from those positions, effective as provided for by law. He considers that it is in the interest of the Company that it undertakes the transition of the executive team's leadership at this stage, when the 3 critical pillars of the strategy approved for the 2017-2019 term of office (in particular, the launch of the Operational Transformation Plan and the Modernisation and Investment Plan, the modernisation and expansion of the parcels business, and the launch and development of Banco CTT) are well advanced. Thus, the Company can focus on the challenges it will have to address during the 2020-2022 term of office, most importantly the regulatory and contractual framework for the Universal Postal Service concession.

In view of the above and in the exercise of their powers, the Board of Directors and the Corporate Governance, Evaluations and Nominating Committee shall proceed to elect his replacement, keeping the Company Shareholders and the market promptly informed.

This information to the market and the general public is made under the terms and for the purposes of article 248-A of the Portuguese Securities Code and other legislation in force. It is also available on CTT's Investor Relations website at: http://www.ctt.pt/ctt-e-investidores/relacoes-cominvestidores/comunicados.html?com.dotmarketing.htmlpage.language=1.

CTT - Correios de Portugal, S.A.

Guy Pacheco Market Relations Representative of CTT Peter Tsvetkov Director of Investor Relations of CTT Contacts: Email: investors@ctt.pt Fax: +351 210 471 996 Phone: +351 210 471 087