NOS SGPS

Capital/Financing Update • Aug 26, 2022

NOS, SGPS, S.A. Registered Office: Rua Ator António Silva 9 – Campo Grande 1600-404 Lisbon Share Capital: 855,167,890.80 Euros Registered in the Commercial Registry Office of Lisbon and Corporation no. 504 453 513

ANNOUNCEMENT

Fitch affirms "BBB" long term issuer credit rating

Lisbon, 26 August 2022 - Pursuant to the terms and for the purposes of nr. 3 of article 29°Q of the Portuguese Securities Code, article 17º of Regulation nr. 596/2014 of the European Parliament and Council and article 3, paragraph d) of CMVM's Regulation nr. 5/2008, NOS, SGPS, S.A. (NOS) hereby informs:

Fitch Ratings (Fitch) has affirmed NOS' Long Term Issuer Default Rating at "BB" with a Stable Outlook.

According to Fitch, the rating assigned to NOS considers its "solid business profile" in a "mature and wellbalanced convergent market" and "an intelligent network strategy". Fitch also highlights NOSS "conservative financial policy" considering the reduced level of leverage.

The maintenance of investment grade long term issuer credit rating by Fitch contributes to strengthening NOS' access to financing sources under competitive terms and conditions.

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

Lisbon, 26 August 2022

Contacts Maria João Carrapato Head of Investor Relations Email: ir@nos.pt Tel.: +351 21 782 4725 Fax: +351 21 782 4735