Sapec : 31/10/2016 - Information Published in the Specialised Press on 31 October 2016

Brussels, 31 October 2016, 3 p.m.

REGULATED INFORMATION [Royal Decree 14/11/2007]

INFORMATION PUBLISHED IN THE SPECIALISED PRESS ON 31 OCTOBER 2016

The company is aware that Mergermarket, a specialised publication, published this morning information about the various alleged investors who would be keen to purchase Sapec's Agro Business activity - "AB" - and wishes to make the following comments on the disclosed information.

The company explained in a press release on 13 October 2016 that the Board of Directors was analysing various strategic options as to the future of AB, including the search for new investors and/or the sale of this business.

In connection with the latter option, the Board of Directors requested the intermediary Lazard Madrid to submit the offers from potential candidates by Tuesday, 1 November 2016 at 8 p.m.. A Board meeting will be held on 3 November 2016 to decide on the best option for the future of AB, and to examine the potential offers received by the company on 1 November. The company will issue a new press release following that Board of Directors meeting to explain the preferred option for the future of AB and, if the Board of Directors chooses to sell AB, whether it will involve one or more potential buyers, and the negotiations thereof. Any speculation about the identity of those potential investors is, therefore, premature. The Board of Directors also makes it clear that following the Sapec Group's press release of 13 October 2016, no decision has been made by the company regarding AB, no negotiations have been initiated with one or more potential investors, nor any valuation of the entire AB sector has been decided.

Meanwhile, the company has requested FSMA to halt the transaction of Sapec shares until the publishing of the press release after the meeting of the Board of Directors on 3 November 2016.

In the first half of the year, as published on 21 September, the pre-tax earnings of Sapec's Agro Business totalled m€ 11.15. Recurring EBITDA stood at m€ 21.91, with a turnover of m€ 120.

For further information, please contact:

Mr. António Marques Tel: + 351 213 222 777

E-mail: investorsrelations@sapec.pt