Sonae SGPS

Capital/Financing Update • Dec 10, 2020

Maia, 10th December 2020

(Translation from the Portuguese original)

ESG-LINKED REFINANCING OPERATIONS

Sonae SGPS informs that it has completed several refinancing operations linked to the Group's performance in environmental, social and governance (ESG) indicators, in the total amount of €150,000,000 (one hundred and fifty million euros). The final spreads of these operations depend specifically on Sonae's ability to promote the presence of women in managerial positions and reduce CO² emissions.

Among the operations, Sonae SGPS has completed an ESG-linked unsecured bond, the first in Iberia with targets for female leadership, through a private placement of €50,000,000 (fifty million euros), with a final maturity of 5 years, arranged by Banco BPI, S.A..

These operations are fully aligned with Sonae's commitment to reach ambitious targets in ESG-related indicators, while reinforcing the Group's liquidity position and increasing the average maturity of its debt. Since the beginning of the year, more than of €830,000,000 (eight hundred and thirty million euros) have been refinanced in long-term loans.

The Representative for Market Relations,

Head Office Lugar do Espido, Via Norte, Maia Share Capital: €2.000.000.000,00 Maia Commercial Registry and Fiscal Number 500 273 170 Sociedade Aberta

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