Jeronimo Martins — Major Shareholding Notification 2017

Jan 3, 2017

Jerónimo Martins SGPS, S.A.

Qualified Shareholding

In accordance with the terms of number 1 of article 17 of the Portuguese Securities Code, Jerónimo Martins SGPS, S.A. (Jerónimo Martins) informs that today Genesis Asset Managers, LPP notified Jerónimo Martins that, from August 23, 2016, it holds voting rights corresponding to 2.01% of Jerónimo Martins' share capital, above the 2% threshold.

As from that date, Genesis Asset Managers, LPP holds 12,659,067 voting rights, as documented by report in appendix.

Lisbon, January 03, 2017

_________________________________________________________________________________________________________________________

Date:30th December 2016 ESMA/2015/1597

Standard form for notification of major holdings

NOTIFICATION OF MAJOR HOLDINGS (to be sent to the relevant issuer and to the competent authority)i
tached ii: Jeronimo Martins	1. Identity of the issuer or the underlying issuer		of existing shares to which voting rights are	at
2.		Reason for the notification (please tick the appropriate box or boxes):
[X ] [ ]	An acquisition or disposal of voting rights An acquisition or disposal of financial instruments
[ ]	An event changing the breakdown of voting rights
[ ] Other (please specify)	iii:
3. Details of person subject to the		notification obligation iv :
Name:	Genesis Asset Managers, LLP	City and country of registered office (if applicable):
		Heritage Hall, Le Marchant Street,
		St. Peter Port
		Guernsey GY1 4HY
Channel Islands
4. Full name of shareholder(s)		(if different from 3.)v :
5. Date on which the threshold was
		crossed or reached vi:
23rd August 2016
6. Total positions of person(s) subject to the notification obligation:
	% of voting rights	% of voting rights through financial in	Total of both in %	Total number of
	attached to shares (total of 7.A)	struments	(7.A + 7.B)	voting rights of issuer vii
Resulting situation		(total of 7.B.1 + 7.B.2)
on the date on which	2.01%	0%	2.01%	12,659,067
threshold was crossed or reached
Position of previous
notification (if appli cable)

7. Notified details of the resulting situation on the date on which the threshold was crossed or reached viii:

A: Voting rights attached to shares

Class/type of		ix
shares ISIN code (if possi ble)	Number of voting rights Direct (Art 9 of Directive 2004/109/EC)	Indirect (Art 10 of Directive 2004/109/EC)	% of voting rights Direct (Art 9 of Directive 2004/109/EC)	Indirect (Art 10 of Directive 2004/109/EC)
Ordinary PTJMT0AE0001	12,659,067	0	2.01%	0
SUBTOTAL A	12,659,067		2.01%

B 1: Financial Instruments according to Art. 13(1)(a) of Directive 2004/109/EC
Type of financial instrument	Expiration date x	Exercise/ Conversion Periodxi	Number of voting rights that may be acquired if the instrument is exer cised/ converted.	% of voting rights
		SUBTOTAL B.1

B 2: Financial Instruments with similar economic effect according to Art. 13(1)(b) of Directive 2004/109/EC
Type of financial instrument	Expiration date x	Exercise/ Conversion Period x i	Physical or cash settlement xii	Number of voting rights	% of voting rights
			SUBTOTAL B.2

8. Information in relation to the person subject to the notification obligation (please tick the applicable box):

[ ] Person subject to the notification obligation is not controlled by any natural person or legal entity and does not control any other undertaking(s) holding directly or indirectly an interest in the (underlying) issuer.xiii

[ ] Full chain of controlled undertakings through which the voting rights and/or the financial instruments are effectively held starting with the ultimate controlling natural person or legal entityxiv:

Namexv	% of voting rights if it equals or is higher than the notifiable threshold	% of voting rights through financial in struments if it equals or is higher than the notifiable threshold	Total of both if it equals or is higher than the notifiable threshold

9. In case of proxy voting: [name of the proxy holder] will cease to hold [% and number] voting rights as of [date]

10. Additional informationxvi:

Genesis Asset Managers, LLP ("GAM") manages a range of pooled funds for different types of institutional investors in different locations and also manages a limited number of portfolios on a segregated basis. GAM has investment discretion for all the pooled and segregated funds and for certain funds has voting discretion.

Done at [place] on [date]