Shareholder Structure *

EFANOR
62.713%

+

QUALIFIED SHAREHOLDINGS**
8.971%

+

FREE FLOAT
28.315%

=

SONAE CAPITAL
SGPS, SA
100%

* As at 17 November 2017

**Shares held by other shareholders that individually own more than 2% of the voting rights. Includes 1.913% of own shares.