Galp Energia

Transaction in Own Shares • May 11, 2022

Galp to start its €150 m share buyback programme

All the materials related with the share buyback programme and its execution will be made available on Galp's website (here).

Galp will commence tomorrow, May 12, 2022, a €150 m share repurchase programme of Galp Energia SGPS, SA's ordinary shares with the purpose to reduce the issued share capital of the Company (Buyback Programme). The Buyback Programme is planned to be executed within 125 to 150 trading days, with all shares repurchased to be cancelled after its conclusion and until the year end.

The Buyback Programme follows Galp's shareholder distribution guidelines for the 2021 fiscal year (announced on February 21, 2022), and the authorisations obtained at the last Annual General Shareholders Meeting (held on April 29, 2022) for the acquisition of own shares representing up to 9% of share capital for the execution of buyback programmes and for its cancellation.

Galp entered into an instruction to Morgan Stanley Europe SE, which will act as riskless principal for the execution of the Buyback Programme.

Any purchase of ordinary shares done in relation to this announcement will be carried out on the Euronext Lisbon regulated exchange and executed in compliance with safe harbour conditions.

Galp Energia, SGPS, S.A.

Investor Relations:

Otelo Ruivo, Director João G. Pereira César Teixeira Ana Marta Costa

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/corp/en/investors Email: investor.relations@galp.com

Reuters: GALP.LS Bloomberg: GALP PL

This document may include forward-looking statements, including, without limitation, regarding future results, namely cash flows, dividends, and shareholder returns; liquidity; capital and operating expenditures; performance levels, operational or environmental goals, targets or commitments and project plans, timing, and outcomes; production rates; developments of Galp's markets; and impacts of the COVID-19 pandemic on Galp's businesses and results; any of which may significantly differ depending on a number of factors, including supply and demand for oil, gas, petroleum products, power and other market factors affecting them; the outcome of government policies and actions, including actions taken to address COVID-19 and to maintain the functioning of national and international economies and markets; the impacts of the COVID-19 pandemic on people and economies; the impact of Galp's actions to protect the health and safety of its employees, customers, suppliers and communities; actions of Galp's competitors and commercial counterparties; the ability to access short- and long-term debt markets on a timely and affordable basis; the actions of consumers; other legal and political factors, including changes in law and regulations and obtaining necessary permits; unexpected operating events or technical difficulties; the outcome of commercial negotiations, including negotiations with governments and private entities; and other factors discussed in Galp's Management Report & Accounts filed with the Portuguese Securities Market Commission (CMVM) for the year ended December 31, 2021 and available on our website at galp.com. All statements other than statements of historical facts are, or may be deemed to be, forward-looking statements. Forward-looking statements express future expectations that are based on management's expectations and assumptions as of the date they are disclosed and involve known and unknown risks and uncertainties that could cause actual results, performance or events to differ materially from those expressed or implied in such those statements. Galp and its respective representatives, agents, employees or advisers do not intend to, and expressly disclaim 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 document to reflect any change in events, conditions or circumstances. This document does not constitute investment advice nor forms part of and should not be construed as an offer to sell or issue or the solicitation of an offer to buy or otherwise acquire securities of Galp or any of its subsidiaries or affiliates in any jurisdiction or an inducement to engage in any investment activity in any jurisdiction.