In accordance with the terms of article 248 of the Portuguese Securities Code, Galp Energia, SGPS, S.A. (“Galp Energia”) hereby discloses the following information:

The council of ministers has approved today the draft of the investment contract and corresponding appendixes, to be signed by the Portuguese State, represented by the Portuguese Investment and Foreign Exchange Agency (“Agência para o Investimento e Comércio Externo de Portugal, E.P.E.”) and Galp Energia. This contract covers the conversion project of both Galp Energia’s refineries, located in Sines and Porto. In the same meeting the Council of Ministers approved the award of a tax relief of around 15% of the investment up to 1,059 million euros, after the conclusion of the project.

The process will be concluded following the formalization of the incentives contracts and favourable opinion of the European Commission.

Galp Energia, SGPS, S.A.