NOS SGPS — Capital/Financing Update 2016

Jun 30, 2016

NOS, SGPS, S.A. (Public Company) Registered Offices: Rua Actor António Silva 9 - Campo Grande, parish of Lumiar 1600-404 Lisbon Registration number before the Companies Registrar of Lisbon and tax payer number 504 453 513 Registered Share Capital: EUR 5,151,613.80

Bond Issue and New Commercial Paper Programmes

Lisbon, 30 June 2016 - Under the terms and for the purposes of Article 249 (2) (d) of the Portuguese Securities Code, NOS, SGPS, S.A. hereby informs that it has contracted two new commercial paper programmes and issued one bond:

• New "NOS SGPS S.A. €60,000,000 Floating Rate Notes due 30 June 2023", in the amount of 60 million euros, organized and placed by ING with a bullet maturity in June 2023 (7 year maturity), and paying interest at a floating rate with a spread of 180 bps plus Euribor 6 Months and with the first coupon due in December 2016;
• Two new commercial paper lines in the amount of 20 million euros each, contracted with Caixa Geral de Depósitos/Caixa Banco de Investimento and Banco Santander Totta S.A., which mature in June 2021.

These transactions contribute positively to NOS' financing strategy, extending average debt maturity, diversifying financing sources and reducing average cost of debt.

With these transactions, NOS is fully financed until the second half of 2017.

This information is also available on NOS' Investor Relations website at www.nos.pt/ir.

Lisbon, 30 June 2016

Contacts

Maria João Carrapato Head of Investor Relations Email: ir@nos.pt Tel.: +351 21 782 47 25 Fax: +351 21 782 47 35