Galp Energia

M&A Activity • Nov 7, 2016

Galp expands interest in São Tomé and Príncipe

Galp informs that it has reached an agreement with Kosmos Energy ("Kosmos") for the acquisition of a 20% interest in blocks 5, 11 and 12 offshore São Tomé and Príncipe. Through this acquisition, Galp reinforces its presence in the country, where it holds, since 2015, an operating interest in block 6, in which Kosmos also participates.

Kosmos will remain the operator of every block, and the consortia will be as follows:

Block	Galp interest	Partners
Block 5	20%	Kosmos Energy (45%); Equator (20%); ANP (15%)
Block 11	20%	Kosmos Energy (65%); ANP (15%)
Block 12	20%	Kosmos Energy (45%); Equator (22.5%); ANP (12.5%)

The consortia will proceed with the acquisition of 3D seismic in all blocks.

The transaction is expected to close prior to year-end, subject to the approval by ANP and Government Authorities.

Galp upstream strategy remains focused in executing its world-class development projects, most notably in Brazil and in Mozambique, while maintaining a diversified exploration and appraisal portfolio that ensures a sustainable level of production in the 2020's decade. ´

About Kosmos Energy

Kosmos Energy is an independent oil and gas exploration and production company focused on frontier and emerging areas along the Atlantic Margin. Its assets include existing production and other major development projects offshore Ghana, as well as exploration licenses with significant hydrocarbon potential offshore Mauritania, Morocco, Portugal, Senegal, Suriname, and Western Sahara. Kosmos is listed on the New York Stock Exchange.

Galp Energia, SGPS, S.A. Investor Relations:

Pedro Dias, Head Otelo Ruivo, IRO Cátia Lopes João G. Pereira João P. Pereira Teresa Rodrigues Contacts: Tel: +351 21 724 08 66 Fax: +351 21 724 29 65

Address: Rua Tomás da Fonseca, Torre A, 1600-209 Lisbon, Portugal Website: www.galp.com Email:investor.relations@galpenergia.com

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This announcement may include forward-looking statements. Forward-looking statements are statements other than in respect of historical facts and accordingly actual events or results may differ materially from those expressed or implied by such forward-looking statements. Important factors that may cause actual results to differ from forward-looking statements are referred in the Annual Accounts Report of Galp for the year ended 31 December 2015. Galp does not intend to, and expressly disclaims any duty, undertaking or obligation to, make or disseminate any supplement, amendment, update or revision to any of the information, opinions or forward-looking statements contained in this announcement to reflect any change in events, conditions or circumstances.