Galp Energia — Capital/Financing Update 2017

Nov 16, 2017

Announcement Lisbon, November 16th , 2017

S&P affirmed its 'BBB-' long-term corporate credit rating of Galp Gas Natural

Distribuição, S.A. (GGND) with stable outlook.

Pursuant to the terms and for the purposes of the article 17 of Regulation (EU) No. 596/2014 of the European Parliament and of the Council, article 248 of the Portuguese Securities Code and article 3 paragraph d) of the CMVM´s Regulation No.5/2008, GGND hereby announce to the market the following information:

Standard & Poor's Global Ratings ("S&P") affirmed its 'BBB-' long-term corporate credit rating of GGND with stable outlook.

The affirmation of the rating with stable outlook reflects excellent business risk profile of GGND which is expected to be continuously supported by stable and predictable cash flows from regulated gas distribution activities.

Galp Gás Natural Distribuição, S.A. | Head Office: Rua Tomás da Fonseca Torre C, 1600-209 Lisboa Share Capital: 89,529,141 Euros | Legal Person and Lisbon Commercial Number: 509 148 247