Announcement | Lisbon | 25 June 2016 Notice to the Market disclosed by OiPHAROL, SGPS S.A. hereby informs on the Notice to the Market disclosed by Oi, S.A., according to the company's announcement attached hereto.PHAROL, SGPS S.A.Public company

Share capital Euro 26,895,375 Registered in the Commercial Registry Office of Lisbon

and Corporation no. 503 215058

PHAROL is listed on the Euronext (PHR). Information may be accessed on Bloomberg under the symbol PHR PL.

Luis Sousa de Macedo Investor Relations Director ir@pharol.pt

Tel.: +351 212 697 698

Fax: +351 212 697 949

pharol.pt

Pharol SGPS SA published this content on 25 June 2016 and is solely responsible for the information contained herein.
Distributed by Public, unedited and unaltered, on 27 June 2016 22:40:04 UTC.

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