Dividend payment

On 3 March 2022, the Board of Directors approved a proposal to the next AGM of a dividend payment of 27.8c per share, in line with last year, representing a dividend yield of approximately 8.1%. Upon payment of this dividend, NOS will still have a very conservative capital structure, remaining close to its target net debt ratio of 2x NFD / EBITDA AL, albeit temporarily higher due to the one-off 5G license payment in 4Q21. NOS remains solidly positioned to meet future investments and committed to distribute an attractive level of dividends whilst maintaining a strategic focus on preserving a strong capital structure to support continued delivery of sustainable value creation for shareholders.