Inapa-Inv. P. Gestao

Share Issue/Capital Change • Aug 29, 2019

INAPA – INVESTIMENTOS, PARTICIPAÇÕES E GESTÃO, SA

(Public Held Company) Headquarters: Rua Braamcamp, n.º 40 -9D, 1250-0050 Lisbon, Portugal Share Capital: € 180,135,111.43 Registered with the Commercial Registrar of Companies of Lisbon, under single Tax no. and Company Registration no. 500 137 994

NOTICE

Under the terms and for the purposes of article 17 of Regulation (EU) No. 596/2014 of the European Parliament and of the Council and of article 248-A of the Portuguese Securities Code, Inapa – Investimentos, Participações e Gestão, S.A. (sociedade aberta) ("Inapa") hereby discloses to the market and to the public in general that following internal approvals and in compliance with applicable procedures, the conversion of the nonvoting preferred shares is scheduled for September 3, 2019, applying the 1:1.25 ratio, resulting in 376,225,508 ordinary shares.

As from the referred date, with the conversion of all non-voting preferred shares representing INAPA's share capital into ordinary shares, its share capital of 180,135,111.43 Euros will be divided into 526,225,508 ordinary shares.

It is further informed that the referred 376,225,508 ordinary shares resulting from the conversion operation will constitute an autonomous category, although with the same voting and economic rights, with the ISIN code PTINA9AN0001, as it is pending and duly registered with the Conservatory from the Commercial Register a lawsuit declaring the annulment of the corporate resolutions approved at the general meeting of November 15, 2018 and the special meeting of holders of non-voting preference shares of the same date.

Such actions will constitute an autonomous category only until the final court decision ruling.

Lisbon, August 29, 2019