PHAROL, SGPS, S.A.

Board/Management Information • May 18, 2021

Announcement | Lisbon | 18 May 2021

Notice to the Market disclosed by Oi

PHAROL, SGPS S.A. hereby informs on the Notice to the Market disclosed by Oi, S.A., according to the company's announcement attached hereto.

Oi S.A. – In Judicial Reorganization CNPJ/ME nº 76.535.764/0001-43 NIRE 33.3.0029520-8 Publicly-held Company

NOTICE TO THE MARKET

Oi S.A. – In Judicial Reorganization ("Oi" or "Company") informs its shareholders and the market in general that the Company's Board of Directors has appointed Mr. Marcelo Pavão Lacerda to the Innovation and Digital Transformation Committee, as an external member.

Mr. Lacerda studied Electrical Engineering and holds a degree in Computer Science from Universidade Federal do Rio Grande do Sul (UFRGS). He is co-founder and chairman of Magnopus (computer graphics software, Los Angeles). Previously he was co-founder of Terra (portal and ISP), F.biz (digital agency now controlled by the WPP group), and Blue Interactive (telecommunications, acquired by CLARO S.A.). In addition, Marcelo Lacerda serves as a member of the board of directors of Grupo Carrefour Brasil (Atacadão S.A.), is chairman of the board of Labi Exames (clinical analyzes) and Bornlogic, and is an investor in some startups in the digital landscape in Brazil. Marcelo is also one of the initial investors at Singularity University (Mountain View, 2011), and has an active stake in Endeavor Brasil.

With this appointment, the Board of Directors enhances the Innovation and Digital Transformation Committee with a professional with extensive experience in technology and digital startups and that sits on the boards of large companies in the Brazilian and international markets.

Rio de Janeiro, May 17, 2021.

Oi S.A. – In Judicial Reorganization. Camille Loyo Faria Chief Financial and Investor Relations Officer