Companies within the TAP Universe

TAP - Transportes Aéreos Portugueses, SGPS, S.A. ("TAP SGPS") informs that, following the approval of the State Aid and the Restructuring Plan by the European Commission on 21 December 2021, its shareholders decided to restructure the composition of the share capital of TAP SGPS, in order to strengthen equity and cover losses. This resolution has already been definitively registered with the Commercial Registry Office.

As a result of the above restructure, TAP SGPS's share capital now amounts to €10,000,000.00 (ten million euros), represented by 1,000,000 (one million shares), with a unit value of €10.00 (ten euros), distributed among the shareholders as follows:

1. 99% of the shares held by the Portuguese Republic, through the Directorate General for Treasury and Finance.
2. 1% of the shares held by Parpública - Participações Públicas (SGPS), S.A.

This capital increase of TAP SGPS results in a reinforcement of the capital structure of TAP SGPS and does not materially change the control exercised over TAP SGPS, as the Portuguese State was already the effective beneficiary of TAP SGPS.