Sonae SGPS

M&A Activity • Sep 30, 2016

Lugar do Espido, Via Norte Apartado 3053 4471-907 Maia Portugal

T (+351) 22 010 79 03

SONAE CAPITAL, SGPS, SA Publicly Traded Company Registered Office: Lugar do Espido, Via Norte, Maia Share Capital: € 250,000,000.00 Registered at Commercial Registry of Maia Registration and Tax nr. 508 276 756

ANNOUNCEMENT (Translation from the Portuguese original version)

Sonae Capital, SGPS, SA ("Sonae Capital") announces that, on this date, ceased to have any direct or indirect interest in assets relating to road concessions.

In addition to the previously announced sale of Norscut - Concessionária de Autoestradas, SA to Meridiam NG Portugal, SGPS, SA, an affiliated of Meridiam Infrastructure Europe II SCA SICAR, for a total consideration of 42 million euro, Sonae Capital concluded the sale of the 15% indirect stake held in Operscut - Operação e Manutenção de Auto-Estradas, S.A. to EGIS ROAD OPERATION, SA for approximately 1.75 million euro.

Maia, 30 September 2016 The Representative for Market Relations,