NOS SGPS

M&A Activity • Sep 30, 2020

NOS, SGPS, S.A. Public Company Registered Office: Rua Ator António Silva 9 Campo Grande 1600-404 Lisbon Share Capital: 5,151,613.80 Euros Registered in the Commercial Registry Office of Lisbon and Corporation no. 504 453 513

ANNOUNCEMENT

decision of non-opposition by the Competition Authority on 7 July, the agreements announced on 14 April 2020, between NOS and Cellnex Telecom, S.A., were definitively enforced today.

The abovementioned agreements comprise the sale of 100% of the share capital of NOS Towering, S.A. to Cellnex, encompassing the disposal of approximately 2,000 sites (towers and rooftops) and a long-term agreement, whereby Cellnex will provide NOS with active network hosting over the passive infrastructure acquired and an increase in perimeter of up to 400 additional sites. The total value of the transaction may potentially amount to 550 million euros in 6 years. The upfront payment of c375 million euros relative to the sale of NOS Towering, S.A. has been received today.

This agreement will enable NOS to continuously optimize and expand its state-of-the-art mobile network, while reinforcing its ability to invest in the long-term value of the company. In addition to this agreement, NOS will continue to pursue other investment efficiency opportunities.

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

Lisbon, 30 September 2020

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