Sonae SGPS

Capital/Financing Update • Feb 25, 2016

Maia, 25 th February 2016

(Translation from the Portuguese original)

BOND ISSUE AND AMORTIZATION OF BONDS

Sonae informs that, on this date, it has completed a bond issue, by private placement, amounting to € 60,000,000 (sixty million euro), unsecured, with a maturity of 7 years, arranged by Caixa – Banco de Investimento, S.A.

Sonae further informs that it has also acquired and amortized, at the present date, 100,000 (one hundred thousand) bonds, corresponding to the bond "SONAE SGPS 2014-2018" issued by Sonae on 25th July 2014 amounting to € 60,000,000 (sixty million euro).

These operations will allow for the early repayment of Sonae's loans maturing in 2018, substancially increasing the average maturity of its debt, and thereby strengthening Sonae's capital structure.

The Representative for Market Relations