NOS SGPS

Management Reports • Jan 15, 2026

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Re gistered Offices : Rua Actor António Silva, 9, Campo Grande, Freguesia do Lumiar 1600 -404 Lisboa

Registration number before the Companies Registry and Taxpayer number 504 453 513 Registered Share Capital: 257.580.690,00 Euros

NOS ENTERS INTO FINANCING AGREEMENTS TOTALLING €260 MILLION LINKED TO SUSTAINABILITY PERFORMANCE INDICATORS

Pursuant to, and for the purposes of, Article 248 -A of the Portuguese Securities Code, NOS hereby informs that it has entered into a set of new financing transactions in the aggregate amount of €260 million with five financial institutions: Banco Bilbao Vi zcaya Argentaria (BBVA), Banco BPI (BPI), Caixa Económica Montepio Geral, Caixa Económica Bancária (Montepio), Caixa Geral de Depósitos (CGD), and Banco Comercial Português (Millennium bcp).

The new credit facilities, which replace existing lines, are intended to refinance the company's funding needs for 2026 and have maturities extending up to 2031, thereby strengthening the stability of NOS's financing structure in the medium and long term.

These transactions were contracted on competitive terms and are aligned with NOS's financial strategy, contributing to the maintenance of a low average cost of funding, a comfortable liquidity position, optimisation of the maturity profile, and support for the Group's operating activities and strategic objectives.

In parallel, NOS has updated its Sustainability -Linked Financing Framework ("SLFF") in order to reflect its renewed corporate sustainability strategy, as well as the updated Sustainability -Linked Bond Principles issued by the International Capital Market A ssociation and the Sustainability -Linked Loan Principles jointly issued by the Loan Market Association, the Asia Pacific Loan Market Association and the Loan Syndications and Trading Association. The SLFF has been subject to an independent Second Party Opi nion and Limited Assurance Report issued by KPMG & Associados – Sociedade de Revisores Oficiais de Contas, S.A. The newly contracted financing facilities are linked to a Key Performance Indicator (KPI) defined within this framework and include mechanisms f or adjusting financial terms depending on the achievement of the established sustainability targets. Through these transactions, NOS reinforces its commitment to integrating environmental, social and governance (ESG) criteria into its financial strategy, aligning the cost of funding with sustainability performance. Following the execution of these facilit ies, approximately 85% of NOS's contracted debt is now linked to sustainability objectives.

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As at 30 September 2025, NOS's Net Financial Debt / EBITDA After Leases ratio stood at 1.6x (below the reference level established in its financial policy of approximately 2x), reflecting the company's prudent financial management and the strength of its balanc e sheet.

This information, together with the Sustainability -Linked Financing Framework and the Independent Limited Assurance Report, is available on NOS's Investor Relations website at www.nos.pt/ir .

Lisbon, 15 January 2026

Contacts

Pedro Cota Dias Head of Investor Relations e Corporate Finance

Email: ir@nos.pt

Tel.: +351 21 782 4725 Fax: +351 21 782 4735