Sonae SGPS

AGM Information • Apr 30, 2021

Maia, 30th April 2021

(Translation from the Portuguese original)

Announcement

SONAE - SGPS, S.A. Registered Office: Lugar do Espido, Via Norte, Maia Share Capital: 2,000,000,000 Euros Registered at Maia Commercial Registry Sole registration and tax number 500 273 170 Public Company

Information on resolutions taken at the Shareholders' Annual General Meeting

Sonae hereby informs, under the terms and for the purposes of article 249 of the Portuguese Securities Code and of CMW Regulation no. 5/2008, that the following resolutions were taken at the Shareholders' Annual General Meeting held today:

• 1- To approve the Company's Annual Report, the Individual and Consolidated Annual Accounts, for 2020, including appendices thereto, as presented by the Board of Directors.
• 2- To approve the proposal for the application of the 2020 Net Profit, as follows:

Taking into consideration Sonae shareholders' remuneration policy, the Group's financial position, and the amount of distributable reserves which allow for compliance with article 32 of the Portuguese Companies Act, the Board of Directors hereby proposes to the Shareholders' General Meeting that pursuant to the terms of the law and the Articles of Association:

• the net profits, in the amount of 75,265,295.02 euros, are allocated as follows:

-Legal Reserves: 3,763,264.75 euros;

-Dividends: 71,502,030.27 euros;

• and that free reserves in the amount of 25,697,969.73 euros are also distributed to the shareholders.

Head Office

For further information, please contact the Investor Relations Department at Sonae:

PATRÍCIA VIEIRA PINTO Head of Investor Relations / Sonae T. +351 220 104 724 // E. pavpinto@sonae.pt

www.sonae.pt

The Board of Directors accordingly proposes that a gross dividend of 0.0486 euros per share, excluding of the total dividends of 97,200,000.00 euros, the amount of dividends that would be attributable to the shares that, at the dividends distribution date, are held by the Company or by any of its subsidiaries, which should be added to Free Reserves.

This dividend corresponds to a dividend yield of 7.4% considering the closing price of December 31* 2020 and to a payout ratio of 85% considering the consolidated direct result attributable to Sonae's shareholders.

• 3- To approve a vote of appreciation and confidence in the work performed by the management and audit bodies of the Company during the financial year of 2020.
• 4- To approve the Internal Policy regarding the Selection and Adequacy Assessment of the Members of the Management and Audit Bodies, as per the terms of the proposal presented by Efanor Investimentos, SGPS, SA and previously disclosed.
• 5- To approve the Remuneration Policy applicable to the members of the Statutory Governing Bodies, as well as the attribution share plan and respective regulation, as per the terms of the proposal presented by the Shareholders' Remuneration Committee and previously disclosed.
• 6- To approve, pursuant to article 8 of the Articles of Association, the applicable principles for an eventual issuance of convertible bonds, as may be decided by the Board of Directors, as per the terms of the proposal presented by that body and previously disclosed.
• 7 To approve the suppression of the shareholders' pre-emptive right in the subscription of any issuance of convertible bonds decided by the Board of Directors pursuant to the proposal approved under agenda item 6, as per the terms of the proposal presented by that body and previously disclosed.
• 8- To approve the increases of share capital eventually necessary for the conversion of convertible bonds that, pursuant to agenda item 6, may be decided by the Board of Directors, as per the terms of the proposal presented by that body and previously disclosed.
• 9- To authorise the Board of Directors, over the next 18 months, to purchase and sale own shares up to the legal limit of 10%, as per the terms of the proposal presented by that body and previously disclosed.
• 10- To authorise the Board of Directors, over the next 18 months, to purchase and sale bonds issued by the Company up to the legal limit of 10%, as per the terms of the proposal presented by that body and previously disclosed.
• 11- To authorise over the next 18 months, and in compliance with the legal limitations, the purchase and holding of shares of the Company by its subsidiaries, as per the proposal presented by that body and previously disclosed.

The Representative for Market Relations,

Head Office

For further information, please contact the Investor Relations Department at Sonae:

PATRÍCIA VIEIRA PINTO Head of Investor Relations / Sonae T. +351 220 104 724 // E. pavpinto@sonae.pt

www.sonae.pt