52-Week Performance Chart

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Unsponsored DRs may be issued by multiple depositary banks servicing a particular DR program. Consequently, as a result of Depository Trust & Clearing Corporation (“DTCC”) practice, the actual cash distribution fees charged may differ from the BNY fees detailed in the fee schedule as fees will be charged in accordance with the fee schedule of the depositary bank that is considered to be the “First Filer”. The fees to be charged for any particular unsponsored cash distribution will be disclosed on the event announcement published by the “First Filer”. BNY takes no responsibility for the level of fees charged by any other depositary bank. The “First Filer” is the depositary bank that filed the first Form F-6 for a program with the U.S. Securities and Exchange Commission (“SEC”). In the event the actual “First Filer” does not have DRs outstanding for a program, the next depositary bank who filed a
Form F-6 with the SEC and has DRs outstanding will be deemed to be the First Filer for these purposes.

DR Details

DR Symbol	SGPMY
CUSIP	83540W102
DR Venue	OTC
DR ISIN	US83540W1027
Ratio DR:ORD	1:10
First Filer	CIT
Underlying ISIN	PTSON0AM0001
Country	Portugal
Effective Date	Oct 23, 2008
Depositary	CIT (Unsponsored)
Industry	Forestry & Paper

Sonae SGPS is a holding company. Through its subsidiaries, the Company operates in four segments: Sonae MC, which is the Company's food retail unit that had 478 stores as of Dec 31 2014; Sonae SR, which is the Company's specialized retail unit, with a presence in the electronics, sports and fashion market and had 522 stores at Dec 31 2014; Sonae RP, which is the Company's retail real estate unit which manages retail real estate properties of the Company; and investment management, which includes a company that operates in the retail DIY products, building and garden (Maxmat), a travel agency (Geostar), insurance brokers (MDS) as well as Wedo Technologies, Saphety, Mainroad , Bizdirect and Publico.

Data provided by Mergent, Inc.

Fee Type in US Dollar per ADS	Deposit Agreement
Cable Fee per Cancellation	$17.5000

Monthly Trading Summary

Month	Month End DR Close Price	DR Trading Volume	Avg Day DR Trading Volume
Apr.25	-1.00	n/a	n/a
Mar.25	-1.00	n/a	n/a
Feb.25	-1.00	n/a	n/a

Depositary Receipts Foreign Exchange Pricing Disclosure

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