Galp Energia

Regulatory Filings • Jun 7, 2018

Galp was awarded the Uirapuru block in the 4 th Production Sharing Bid Round in Brazil

Galp informs that its Brazilian subsidiary, Petrogal Brasil, together with ExxonMobil Exploração Brasil Ltda. (ExxonMobil) and Statoil Brasil Óleo e Gás Ltd. (Equinor), were awarded the Uirapuru exploration block pursuant to the 4 th Production Sharing Bid Round hosted today by the Brazilian National Petroleum, Natural Gas and Biofuels Agency (ANP) in Brazil. Petróleo Brasileiro S.A. (Petrobras) exercised its right to enter in the consortium as operator and will hold a 30% interest in the area, with Petrogal Brasil holding 14%, while ExxonMobil and Equinor 28% each.

The consortium offered a profit oil of 75.49%. Additional commitments include the payment of a signature bonus of R\$2.65 bn (c.\$683 m gross or c.\$96 m net to Petrogal Brasil) 1 , and the drilling of one exploration well.

Uirapuru has an area of 1,285 km² and is located in the pre-salt polygon in the Santos basin, 175 km from shore, at water depths ranging from 800 to 2,100 metres. The block is close to Galp's BM-S-8 and adjacent Carcará North licenses, where the Company currently holds 17% and 20% interests, respectively.

The acquisition is part of Galp's strategic commitment to strengthen its position in high-quality assets in core areas, such as the Brazilian pre-salt, through selected partnerships.

¹Considering the USD:BRL exchange rate at the time of the announcement.

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@galp.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 2017. 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.