Sonae SGPS

M&A Activity • Feb 1, 2024

Announcement

(Translation from the Portuguese original)

Maia, 01 February 2024

The voluntary public tender offer (the "Offer") period (the "Offer Period") for all Musti Group Plc ("Musti" or "Company") outstanding shares ("Shares") was extended until 15 February 2024.

Sonae SGPS SA ("Sonae") hereby informs that, following its announcements published on 29 November 20231 and 15 December 20232 , the Finnish Financial Supervisory Authority has today approved the first supplement3 (the "First Offer Supplement") to the tender offer document (the "Offer Document") submitted by Sonae subsidiary, Flybird Holding Oy (the "Offeror"), to its approval, subsequently to the offer price increase to EUR 26.10 per Share (previously EUR 26.00 per Share), announced by the Offeror on 25 January 20243 .

Consequently, the Offer Period initiated on 18 December 2023 and that was set to expire on 05 February 2024 was extended by the Offeror until 15 February 2024.

The English language translation of the First Offer Supplement and of the Offer Document, including its terms and conditions, will be available on the internet at www.flybird-tenderoffer.com, mustigroup.com/investors/flybird-tender-offer and www.nordea.fi/musti-offer as of 01 February 2024.

Further announcements will be made as and when deemed appropriate in compliance with applicable laws and regulations, and the recommendations of the Portuguese and Finnish market regulators.

The Offer is expected to be completed during the first quarter of 2024.

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 500273170

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

Ricardo Figueiredo da Rocha Head of Investor Relations / Sonae T. +351 220 104 794 // E. rjfrocha@sonae.pt www.sonae.pt

¹ Available in the link: https://sonae.pt/en/sonae/comunicados/click.php?id=1410

² Available in the link: https://sonae.pt/en/sonae/comunicados/click.php?id=1414

³ Available in the link: www.flybird-tenderoffer.com, mustigroup.com/investors/flybird-tender-offer andhttp://www.nordea.fi/musti-offer