Inapa : Resolutions of the General Meeting

(Public Held Company)

Headquarters: Rua Braamcamp, n.º 40 -9D, 1250-0050 Lisbon, Portugal Share Capital: € 180,135,111.43

Registered with the Commercial Registrar of Companies of Lisbon, under single Tax no. and Company Registration no. 500 137 994

Under the terms of the current regulation, hereby informs that, on the present day, the shareholders' general meeting of Inapa - Investimentos, Participações e Gestão, SA have decided to:

1. Approve the Management Report, the Balance Sheet, Corporate Governance Report and Individual and Consolidated Accounts of the Company relatively to 2016.

2. To approve (a) that the 2014 net income, in the amount of € 2 078 488.82, will be applied for € 103,924.44 in legal reserve and € 1,974,564.38 in priority dividend for the financial year 2012 and (b) to suspend the effects of this resolution, regarding the dividend, until the approval of annual accounts, duly certified by a Statutory Auditor, where the limits established in article 31 and 33 of the Portuguese Companies Act have ceased to be verified.

3. To approve (a) that the 2016 negative net income, in the amount of € 2 225 970 to be applied to retained income.

4. Approve the vote of confidence to the Board of Directors and Audit Committee and to each of his members for their performance during 2016, in accordance with paragraph c of number 1 of article 276 and number 1 of article 455, from the Portuguese Companies Act.

5. Approve the declaration policy from the Remuneration Committee relative to the remunerations of the Governing Bodies, in accordance with number 1 and 3 of article 2 of the law 28/2009 of June 19.

6. To approve the proposal for the partial revision of the remuneration policy of the executive members of the Board of Directors presented by the Remuneration Committee.

Lisbon, April 28 2017