27.10.2021 - Sonaecom, SGPS, S.A. informs on qualified shareholding

SONAECOM, S.G.P.S., S.A.

Publicly Listed Company

Head Office: Lugar do Espido - Via Norte - Maia

Tax number 502 028 351

Maia Commercial Registration Office

Share Capital: 230.391.627,38 Euros

Translation from the Portuguese original

Announcement on Qualified Shareholding

Sonaecom, SGPS, S.A. ("Sonaecom") informs, as required by article 17 of the Portuguese Securities Code, that it has received a notification from Azvalor Asset Management S.G.I.I.C. S.A., as shown in the following pages.

Maia, 26Th October 2021

The Representative for the Market Relations

SONAECOM, S.G.P.S., S. A.

Public Company

Head Office: Lugar do Espido, Via Norte, Maia

Registered at the Maia Commercial Registry

Sole Registry and Tax Id nr. 502 028 351

Share Capital: Euro 230.391.627,38

Date:22 October 2015

ESMA/2015/1597

Standard form for notification of major holdings

NOTIFICATION OF MAJOR HOLDINGS (to be sent to the relevant issuer andto the competent authority)i

1. Identity of the issuer or the underlying issuer of existing shares to which voting rights are at- tachedii: SONAECOM SGPS SA
   Isin: PTSNC0AM0006
2. Reason for the notification (please tick the appropriate box or boxes):

[X] An acquisition or disposal of voting rights

[ ] An acquisition or disposal of financial instruments [ ] An event changing the breakdown of voting rights [ ] Other (please specify)iii:

3. Details of person subject to the notification obligationiv :

Name: Azvalor Asset Management	City and country of registered office (if applicable):
S.G.I.I.C. S.A.	Madrid, Spain

1. Full name of shareholder(s) (if different from 3.)v:
   AZVALOR IBERIA FI AZVALOR INTERNACIONAL FI
   AZVALOR LUX SICAV-AZVALOR INTERNATIONAL AZVALOR VALUE SELECTION, SICAV, S.A.
2. Date on which the threshold was crossed or reachedvi: 16/09/2021
3. Total positions of person(s) subject to the notification obligation:

	% of voting rights at-	% of voting rights		Total number of
	through financial instru-	Total of both in %
	tached to shares (to-	voting rights of is-
	ments	(7.A + 7.B)
	tal of 7.A)	suervii
	(total of 7.B.1 + 7.B.2)
Resulting situation
on the date on which	1.559%		1.559%	311.340.000
threshold was
crossed or reached
Position of previous	2.0364%		2.0364%
notification (if appli-
cable)

7. Notified details of the resulting situation on the date on which the threshold was crossed or reachedviii:

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A: Voting rights attached to shares

Class/type of	Number of voting rightsix		% of voting rights
shares
	Direct			Indirect	Direct		Indirect
ISIN code (if possi-
	(Art 9 of Directive		(Art 10 of Directive	(Art 9 of Directive		(Art 10 of Directive
ble)
	2004/109/EC)			2004/109/EC)	2004/109/EC)		2004/109/EC)
PTSNC0AM0006	4.853.770					1.559%
SUBTOTAL A	4.853.770					1.559%
B 1: Financial Instruments according to Art. 13(1)(a) of Directive 2004/109/EC
							Number of voting rights
Type of financial in-		Expiration		Exercise/	that may be acquired if		% of voting rights
strument		datex		Conversion Periodxi	the instrument is exer-
							cised/ converted.
				SUBTOTAL B.1

B 2: Financial Instruments with similar economic effect according to Art. 13(1)(b) of Directive 2004/109/EC

Type of financial	Expiration	Exercise/	Physical or cash	Number of
Conversion Pe-	% of voting rights
instrument	datex	settlementxii	voting rights
riod xi

SUBTOTAL B.2

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8. Information in relation to the person subject to the notification obligation (please tick the applica- ble box):

[ ] Person subject to the notification obligation is not controlled by any natural person or legal entity and does not control any other undertaking(s) holding directly or indirectly an interest in the (underlying) issuer.xiii

[ ] Fullchain of controlled undertakings through which the voting rights and/or the

financial instruments are effectively held starting with the ultimate controlling natural person or legal entityxiv:

	% of voting rights if it	% of voting rights	Total of both if it
	through financial in-
	equals or is higher	equals or is higher
Namexv	struments if it equals
than the notifiable	than the notifiable
	or is higher than the
	threshold	threshold
	notifiable threshold
AZVALOR IBERIA FI	0.371%		0.371%
AZVALOR INTERNACIONAL FI	0.415%		0.415%
AZVALOR VALUE SELECTION,	0.201%		0.201%
SICAV, S.A
AZVALOR LUX SICAV-AZVALOR	0.572%		0.572%
INTERNATIONAL

1. In case of proxy voting: [name of the proxy holder] will cease to hold [% and number] voting rights as of [date]
2. Additional informationxvi:

Done at MADRID on 22/09/2021.

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Annex: Notification of major holdings (only to be filed with competent authority and notwith the relevant issuer)

A: Identity of the person subject to the notification obligation

Full name (including legal form for legal entities) Azvalor Asset Management S.G.I.I.C., S.A.

Contact address (registered office for legal entities) Paseo de la Castellana 110, 3 Floor, 28046, Madrid.

E-Mail: [e-mail]

Phone number / Fax number [phone]/ [phone]

Other useful information (at least legal a contact person for legal persons)

B: Identity of the notifier, if applicable

Full name: Javier Casamayor Puigvert

Contact address Paseo de la Castellana 110, 3 Floor, 28046, Madrid.

E-Mail [e-mail]

Phone number / Fax number 34 91 737 80 38/ [phone]

Other useful information (e.g. functional relationship with the person or legal entity subject to the notification obliga- tion)

C: Additional information:

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