Sapec : 07/11/2016 - Press Release of the Sapec Group

Brussels, 7 November 2016, 3 p.m.

REGULATED INFORMATION [Royal Decree 14/11/2007]

SAPEC SELLS ITS AGRO BUSINESS (AB) TO BRIDGEPOINT.

On Sunday, 6 November, the company concluded an agreement in connection with the sale of its Agro Business (the AB sector), fully held by its subsidiary Sapec Portugal SGPS SA, to the investment fund Bridgepoint.

Bridgepoint evaluated the AB sector, composed by the Portuguese and Spanish companies, Sapec - Agro

S.A. and Trade Corporation International S.A., for an amount of EUR 456 000 000, giving a selling price of the shares of those companies in the amount of EUR 318 387 000, taking into consideration the net debt and other adjustment items as explained in the previous press release by the Sapec Group on 3 November 2016.

The sale of AB was made on the condition of obtaining the approval of the Portuguese and Spanish competition authorities (Autoridade de Concorrência, for the former, and the Comisión Nacional de los Mercados y la Competencia, for the latter). This condition must be satisfied within six months after the conclusion of the sale, although the deadlines may be extended. However, the advisers to the parties do not anticipate any opposition inasmuch as there are no overlappings between the activities of Bridgepoint's subsidiaries and those carried out by the Sapec's AB sector, and a clearing is expected within two months of submitting the dossier, which will take place by the end of November.

Sapec intends to strengthen its other activities in Portugal and Spain and, once the transaction has been completed, to distribute to its shareholders a substantial part of the cash received, under specific terms and timing still to be considered.

Bridgepoint is a European investment fund that has already raised more than EUR 20 billion to date. With an investment portfolio composed of market-leader companies, it prioritises growth and long-term success. Bridgepoint invests in companies with sound management practices and works in close collaboration with management teams. All the AB management teams will continue with their duties.

For any additional information, kindly contact:

Mr. António Marques

Tel.: + 351 213 222 777

E-mail: investorsrelations@sapec.pt