Sonae : SGPS, SA – informs on an agreement with Corpfin Capital to acquire 60% of Tomenider S.L, which owns 100% of Arenal Perfumerias S.L.U

ANNOUNCEMENT

Maia, 28th September 2018

(Translation from the Portuguese original)

Sonae SGPS, SA hereby announces that, its subsidiary Modelo Continente Hipermercados S.A. sucursal en España, has entered into an agreement with Corpfin Capital to acquire its 60% stake in Tomenider SL (the

"Company"), owner of 100% of Arenal Perfumerias SLU ("Arenal"), for a total estimated consideration of around

45 million euros.

Arenal is a parapharmacy and perfumery retail company with a network of 41 stores across the North of Spain.

Founded in 1971 by the Vázquez family, Arenal has generated a turnover of 97 million euros in 2017.

This transaction enables Sonae MC to further expand its position in one of its key strategic pillars, the high-growth Health & Wellness segment. It has the ability to significantly strengthen, in a territory immediately adjacent to the Portuguese, both assets and competences of Well's and Arenal.

The Vázquez family will continue managing the business, maintaining a 40% stake in the Company and securing the adequate rights for a shareholder of this nature.

The completion of this transaction is subject to the customary approvals for a transaction of this nature and it is expected that it can be concluded during the first quarter of 2019.

On behalf of the Board of Directors,

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

Head Office

Lugar do Espido, Via Norte, Maia Share Capital: €2.000.000.000,00

Maia Commercial Registry and Fiscal Number 500273170 Sociedade Aberta

PATRÍCIA VIEIRA PINTO

Head of Investor Relations / Sonae

T. [phone] // [e-mail]