Cork • Forestry • Financial • Energy • Real Estate • Luxury

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1870 ­ 1930

• Foundation of AmorimGroup

1870 • Foundation

António Alves AmorimOpened the first cork stopper factory at Gaia's quay

1908 • Relocation

The company moved from the Gaia's quay

1922 • The 2nd Generation

The founding of Amorim & Irmãos, Lda, the 1st large cork stopper manufacturing

Fundação da industria da cortiça em Portugal

1930 ­ 1960

• Consolidating leadership in Portugal

1944 • Reconstruction

Henrique Amorim's determination and vision led to the reconstruction, after a huge fire, of an even larger cork factory, employing at the time over than 300 workers

1953 • The 3rd generation

Brothers José, António, Américo and Joaquimbecome part of the company's management team. Américo Amorim leads the lengthy process of changing the profile of the Portuguese cork industry.

Fundação da industria da cortiça em Portugal

1960 ­ 1980

• Internationalisation • Achievement of world leadership

1963

Corticeira Amorim

1966

Inacor S.A. ­ Itexcork Corticeira Amorim Algarve 1967

Gerhard Schiesser (Áustria)

1972

Comatral (Morocco)

1976

Samec (Spain)

1978

Ipocork

plant of the Amorim family

to Santa Maria de Lamas

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1980 ­ 2000

• Reinforced leadership• Internationalization• Business portfolio diversification

1981

SPI (currently BPI)

1984

BCP 1987

Joint venture with the Accor GroupAcquisition of Peral estate

1988

4 Amorim cork companies' IPO in Lisbon Incorporation of AIP Holding 1989

Acquisition of Mosteiro de Grijó Estate

Creation of BNC 1990

Acquisition of Sociedade Figueira Praia

1991

Becomes one of the founding shareholders

1992

The creation of Amorim Imobiliária

1995

Joins the consortium to acquire Petrogal 1999

Incorporation of Natureza SGPS Holding Company that owns Quinta Nova, Burmester and Gilberts brands

em Portugal

2000 ­ 2016

Business portfolio restructuring

2003

Acquisition of an interest in Banco Popular

2005

The creation of Amorim Energia and acquisition of a 1/3 interest in Galp EnergiaThe creation of bank “Banco BIC” – Angola

2007

Entry into the Luxury Goods segment and acquisition of an interest in Tom Ford International

The creation of ‘’Banco BIC Português’’

2008

The creation of Imobiliária Brasil

2012

Reinforcement of the stake detained in

2011

The creation of bank “Banco Único” in

of Telecel

The acquisition of stake in Banco Luso

Español

The setup of a real state in Angola

Mozambique

Brasileiro

Galp Energia

2013

Amorim Energia issued a €400m bond

exchangeable into Galp Energia. This issue was awarded by IFR: EMEAStructured Equity Issue of the Year 2013.

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5

Cork

Forestry

Energy

Financial

Real Estate

Luxury

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The founder

"In my opinion, economics is a matter of space and imagination.»

Américo Amorim1934 - 2017

The teachings, values, example of leadership, determination and entrepreneurial vision of our founder who dedicated more than six decades of an unparalleled professional career to the global development, the Americo Amorim Group and the Portuguese economy will always remain with us.

Let us render our sincere homage to the memory and work of a great Leader!

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AmorimCork

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• Critical role in the economy

• Worldwide presence

• Sustainability policy

• Technology and Innovation

World leadership Sustained global leadership in cork processing and marketing

The Amorim family started its cork­producing business in 1870

Cork continues to be Amorim's core business within the Group's portfolio. Once world leadership

has been achieved, it has been sustainably maintained at every level as a result of strong investments

in research, development and innovation. Our efforts have been geared toward the international

promotion of cork and its applications, thus contributing to raise awareness worldwide about the

properties of this versatile raw material and its environmental advantages and enhancing its public

recognition worldwide.

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Cork Production in the World

The Amorim name needs no introduction in various parts of the world. Present on all five continents and in more than 100 countries, through industrial plants, distribution

companies, joint ventures or main players, business is ensured on a global scale based on a network of 83 companies, 30 of which are industrial plants.

Geografic

Location

Industrial Unit

Raw material

Industrial Applications

Units of Cork

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Amorim cork floorings are increasingly an option used by artists and museum directors around the world, from the United Kingdom to Japan, including Italy and

now France.

PIONEERING AND INNOVATIONIN COVERINGS

VICTORIA & ALBERT (V&A) MUSEUMVICTORIA & ALBERT (V&A) MUSEUMLEONARDO DA VINCI MUSEUM, MILAN

CONTEMPORARY ARTMUSEUM OF BORDEAUX

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Thermal and acoustic insulation

Flooring

Underlayment for floors

Anti­vibration solutions

Aeronautics

Aerospace industry

Railway aindustry

Automotive industry

Footwear

Furniture

Leather goods

McNamara’s surf board, made with cork.

Sports

AsPortuguesas ­ Slippers made with cork.

736.775 ha

Mediterranean Cork Oak Forestsone of the world's most valuable forests

Within the framework of the current

threat of desertification of large

areas of some Mediterranean

countries, the cork oak forests and

the cork industry are growing in

strategic importance. This is a critical

cluster for the development of

certain economic segments in these

countries. The cork oak forests act as

a barrier against encroaching

desertification, improve the socio­

economic status of rural

communities and preserve

endangered species. This ecosystem

is the basis of a recognized

biodiversity hotspot in the world.

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ITALY

TUNISIAN

6.161 tonnes

6.962 tonnes

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AmorimForestry

ForestryFor us nature is a passion and anirreplaceable asset

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The Américo Amorim Group has set aside

in its global business portfolio, a growing

and very special place for its activities

related to Nature.

Its investments in this field are

concentrated in Portugal, Mozambique

and Brazil.

In Portugal the Group provides wine­

making and wine­tasting tourism in the

Douro region, and activities linked to

forestry, dryland and irrigated farming,

cattle farming in the Alentejo region.

In Mozambique it carries out a large­scale

agricultural project in the Zambezia region

(10,000 hectares of soya cultivation). In

Brazil, in the Bahia region, it manages a

coconut plantation covering around 700

hectares and 120,000 feet of coconut

palms.manages a coconut plantation

covering around 700 hectares and 120,000

feet of coconut palms.

DOURO (Portugal)ViticultureWine tourismGourmet productsALENTEJO (Portugal)Forestry ProductionAgriculture and Livestock BreedingOlive GrowingZAMBEZIA (Mozambique)Agricultural productionSoyaMARAÚ (Brazil)Coconut Cultivation and Harvesting

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AlentejoPortugal

A predominantly agricultural region which is a

popular tourist destination, the Alentejo plains

comprise the second essential facet of the

Américo Amorim Group's activities linked to

Nature.

This is the centre of the cork industry, dryland,

irrigated farming, cattle farming and the hunting

and tourism activity.

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Exploration of Cork and Holm Oaks

An excellent example of sustainable and environmentally friendly

development, the exploitation of Cork Oaks for the production of

cork is one of the backbones of the local economy. The Américo

Amorim Group has vast cork oak woodland covered by these

trees, which enable the annual production of 30,000 arrobas (unit

of measurement = 15kg) of cork. Cork extraction is the main

activity on our estates.

This is why we endeavour to ensure a constant investment in the

maintenance and renewal of cork oak forests and the

improvement of productivity.

Around 2,500 hectares are covered with holm oaks, which are ideal for the production

of acorns, the natural food of one of the most emblematic species of the region.

Besides natural pastures, we set aside about 130 hectares for the production of

fodder to feed more than 400 head of cattle. This is one of the supplementary

activities of the estates in the Alentejo.

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Livestock Farming

DRYLAND AND IRRIGATED FARMING

1,000 HECTARES OF NATURAL GRAZING PASTURES, WHEAT, OATS,

BARLEY AND FORAGE.

We allocate a portion of our territory for dry farming, about 1,000

hectares, in addition to that set aside for cork oaks and cork harvesting.

The dryland farming crops are oats and triticale while the irrigated

farming crops are wheat, barley and forage.

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HuntingHerdade do Peral is the largest game hunting parkin the country, making it the site par excellence forlovers of hunting.

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Olive GrovesAlentejo and Douro

Olive farming is also one of the cornerstones of our nature­related activities, and

we allocate various hectares on the property we own in the Alentejo and the Douro

to this activity.

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Douro

WORLD HERITAGE

In the Douro Region, the Amorim Group owns the estate

‘Quinta Nova de Nossa Senhora do Carmo'. It was founded in

1764, and it is one of the eldest in this demarcated region. Its

main activities are rural tourism, viticulture and agriculture.

The Douro Valley is one of Portugal's most beautiful and most

characteristic regions.

It is in this land, which is home to the world's oldest

demarcated winemaking region, that Amorim focuses on the

other core area of its nature­related activities: wine production

and wine tourism, at its farms in the region, Quinta Nova de

Nossa Senhora do Carmo and Quinta de S. Cibrão, totalling

more than 300 hectares.

Quinta Nova de Nossa Senhora do CarmoAn 18th century estate

The vine and the wine

The Quinta Nova de Nossa Senhora do

Carmo farm extends over 120 hectares

along the winding bank of the River

Douro. It is one of the demarcated

region's oldest farms, dating back to

1764. A landmark from the time of the

Marquis de Pombal, dated 1768, and an

18th century chapel on the farm bear

witness to its great age.

It is on this magnificent farm that, every

day, we put all of our creativity and

commitment to the search for

excellence to the test, with a passion,

making our contribution to turning the

D o u r o i n t o a n i n t e r n a t i o n a l

phenomenon of innovation and quality

in the production of wine.

In homage to our age­old tradition but

with eyes fixed firmly on the future, we

associate traditional and genuine

regional practices with the most

modern management methods and

wine producing techniques.

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Wine Tourism Wine Hotel, Wine House and Wine Museum

Wine Hotel

The Quinta Nova de Nossa Senhora do Carmo Country Hotel, Portugal's first wine

hotel, combines the region's strong­willed architecture with its elegant decoration to

provide 11 rooms with magnificent views to the River Douro. The hotel provides

unforgettable stays in the Douro winemaking region.

Quinta Nova de Nossa Senhora do Carmo is also the centre and main stage for

a major wine tourism project developed by Amorim in this region, which has

already won various domestic and international awards.

Visitors stay in the Quinta Nova Hotel and can also take part in a wide range of

activities, always inspired on vineyards and wines: walking routes, wine

caching, mountain biking and Nordic walking, as well as wine tasting and wine

tours.

Conceitus Winery Restaurant Perfect harmony between gastronomy and wine

Conceitus is a singular restaurant, whose fare provides an inebriating experience

thanks to Chef José Pinto. Here one can harmoniously enjoy the local cuisine and

the wines produced on the property.

Winner of the prestigious “Best Wine Tourism Award” 2015 in the “Wine Restaurants

Category”, Conceitus is a mustvisit for tourists exploring the famous wine­making

region of the Upper Douro.

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ZambeziaMOZAMBIQUE

Agriculture is the most recent commitment to investment of

the Américo Amorim Group in Mozambique, participating in a business consortium,

Agromoz Agribusiness de Moçambique, SA, operating in the Zambezia region.

SOYA BEAN PLANTATION IN THE GURUÉ DISTRICTMOZAMBIQUE

The Farming Project, which began in 2012,

is located in Uacua, in the Administrative

Post of Lioma in the District of Gurué, and

has a time horizon for the farming of around

10,000 hectares of land, with various crops, in

INDIAN

particular soya bean, but also rice and beans.

OCEAN

MOZAMBIQUE

Soya Bean plantation

ZIMBABWE

ZAMBIA

MALAWI

TANZANIA

Gurué

SWAZILAND

SOUTHAFRICA

Johannesburg

Maputo

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In the Fazenda Isabel Antunes, located in the Municipality of Maraú, in the coastal region of Bahia,

the Americo Amorim Group has an extensive coconut plantation covering around 700 hectares.

Maraú, BahiaBRAZIL

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The 120,000 coconut palms situated at the fazenda include

both the tall and dwarf species and yield 10 million coconuts

annually.

Aimed at increasing profitability, the product has been

commercialised mostly in the form of dry coco.

COCO HARVESTINGBRAZIL

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AmorimEnergy

Indicators Galp Energia (2016)

2P Reserves =

673 milion barrels

2C Contingent Resources =

1,320 milion barrels

Net Profit RCA* =

EUR 483 million

Electricity sales =

5,010 Gwh

EnergyAmorim Energia is a share holderin the portuguese oil company Galp Energia.

As a major shareholder, Amorim is aware of the historical importance of the

current phase that Galp Energia is going through and the sizeable investments

that are being made in order to transform the Portuguese oil company into a

major Iberian and international operator in the energy area, with an enviable

portfolio in the area of raw material production, a modern refinery structure and

a wide distribution network.

Clients Natural Gas and GNL=

7.1 bcm

Total Sales =

13,119 million euros

25The Group has a majority interest in Amorim Energia which, in turn, owns a 38.34 per cent interest in Galp Energia.

Benefits provided by Galp Energia

• Well­balanced business portfolio and a clear long­term strategy

• Transformational projects with a high potential for value creation

• Sustainable value creation generating above­average returns

Total Sales =

13,119 million euros

109,727 kboe

Workforce =

6,475

Working interest Average production =

67.6 kboe/day

Service stations=

1,436

Galp is one of the leading operators in the Iberian Peninsula,

integrating the refining, distribution and commercialization of

petroleum products. It has an integrated refining system with

a capacity to process 330,000 barrels of oil per day (kbpd) and

a large distribution network in the Iberian Peninsula. The

Company has also been developing its presence in

Africa, currently holding fuel distribution and marketing

activities in five countries of this continent.

Processed raw materials =

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Exploração & Produção

Galp Energia's Exploration and Production

structure is well­defined and focused per

region and activity, in partnership with the

most experienced companies in the world

and supported on a high level of

qualification of its human and technical

resources.

Oil RESERVES AND RESOURCES2016(Mbbl)

2P Reserves= 673

2C Contingent Resources = 1,320

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> Strong international activity, a determining factor for results> More production and better refining margins> Maturation of Exploration and Production Portfolio> Downstream & Gas: a solid performance> Financial Capacity for Growth Programme

AmorimFinancial

The Amorim Group has a strong tradition more than thirty

year experience in launching operations in the Financial

Sector having started this journey in 1981 as the founding

shareholder of SPI (known today as BPI ­ "Banco Português de

Investimento").

In 2005, the Américo Amorim Group was the founding

shareholder of Banco BIC in Angola. The project was a huge

success, with a fast and solid growth, based on a branch

network covering the whole country geographically. Three

years later Banco BIC Português was launched. It was raised in

order to support the business and financial relations between

Portugal and Angola.

In August 2011 the Group launched Banco Único in

Mozambique, an Universal Retail Bank wich is already a

banking reference in the country.

In 2012, The Américo Amorim Group has become a

shareholder of Banco Luso Brasileiro operating in the Brazilian

market since 1998. With the entry of new shareholders,

including the Américo Amorim Group, the Bank adjusted its

commercial strategy, specializing in public transportation and

exchange activities.

Having recently restructured its portfolio in the financial

sector, the Américo Amorim Group is currently focusing on its

business in Brazil and Mozambique, through important

holdings in Banco Luso­Brasileiro and Banco Único,

respectively.

Financial The Américo Amorim Group holds several stakes in various banks based in four different countries

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BANCO POPULAR ESPAÑOLStake acquired in Banco Popular

Español

SPIEs tab l i shment o f Soc iedade

Portuguesa de Investimentos

BCPPortugal's first private bank is

born

BNCOpening of Banco Nacional

de Crédito

20112008 2012

Américo Amorim's venture into this sector began in 1981 and is full of innovative initiatives, with special

emphasis on the historical role he played in the creation of the first private Portuguese bank after the 1974

revolution, the foundation of the first mortgage bank in Portugal, the Iberian integration strategy and the

strong focus on the Portuguese­speaking markets, particularly Angola and Mozambique.

BANCO LUSO BRASILEIROStake acquired in Banco Luso

Brasileiro.

BPNThe acquisition of BPN by BIC

Português.

BANCO ÚNICOCreation of a new universal bank in

Moçambique.

BANCO BIC PORTUGUÊSO p e n i n g o f B a n c o B I C

Português

BANCO BICGreenfield bank created in

Angola.

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CONTINUOUS AND SHARP GROWTH

THROUGHOUT THE LAST TWO DECADES

MOZAMBIQUE

Despite the slowdown in Mozambique’s economic growth in the last year and a

half, both medium­and long­term prospects remain very favourable.

The development of natural gas projects in the Rovuma basin and the potential

that this will bring to the country, in addition to the existing wealth of other

natural resources (including coal), conveys confidence in the future. The IMF

expects Mozambique to regain real GDP growth rates between 5% and 7%, from

2017 until 2021.

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Banco ÚnicoA new bank for the development of Mozambique

Open to the public since 2011, the bank

was established by Grupo Amorim in partnership with Grupo

Visabeira and leading Mozambicans.

Since mid­2014, its shareholder structure comprises with great

relevance the important South African Nedbank Financial

Group.

Banco Único stands out for its impressive growth rates, above

the robust growth of Mozambican Banks, consolidating itself as

the 6th largest Bank operating in Mozambique.

2016

­ Staff: 513

­ Number of Branches: 23

­ Total Assets: 22.74 billion meticais.

­Share capital: 2.64 billion meticais.

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Brasil

THE 8TH LARGEST ECONOMY IN THE WORLD

Despite the difficult period, there are trends that point to the resumption of

economic growth in the forthcoming years. It is currently the world’s 8th largest

economy and continues to have a leading role in the development of the world’s

GDP.

Hence, Brazil continues to be a strong focus of the Américo Amorim Group,

particularly in the financial and real estate sectors.

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Banco Luso Brasileiro

Banco Luso Brasileiro, founded in 1988, welcomed the Américo

Amorim Group and Ruas e Cunha Group into its shareholder structure

in 2012. The investment by these two business groups that lead their

respective business sectors, allowed Banco Luso­Brasileiro to

reposition its business identity and invest in a new culturemand

corporate values.

This strategy resulted in a further increase of capital in 2014, in the

amount of BRL 60 million, reorganising the shareholder structure as

follows: Amorim Aliança 43%, R.C. Participações 43% and Lusopar 14%.

In 2016, the institution consolidated the improvement of financial

results shown in the second half of 2014.

2016

Shareholders' equity: BRL 137.2 milion

Net income: BRL 24.0 milion

Total assets: BRL 1,157.4 milion

Staff: 86

Banco Luso Brasileiro A prominent position in the world economy

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AmorimReal Estate

• The Group has a presence in the real estate sector since the 1950s

• Currently it owns real estate assets in Portugal, Brazil.

• The touristic and the real estate sectors are the privileged ones

Real State

Brazil

The real estate sector is traditionally one of Amorim's core investment areas. It has very wide and

internationally recognised experience and knowhow in innovative and rigorous projects. At the moment,

the portfolio of large real estate investment projects, in various stages of development, is distributed

over Brazil and Portugal.

The development of two projects located in the state of Bahia: One is situated in Praia

do Forte, and the other in Maraú involving 30 million square meters and a beach front

of about 1800 meters in Praia do Forte and 9000 meters in Maraú.

, Portugal

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Portugal

Brazil

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Brazil”Natural Swimming Pools” Praia do Forte (Salvador­Bahia)

Fazenda Isabel Antunes ­ Maraú Project

Brazil is a privileged area for real estate

and tourism investment, of high added

value. Amorim has invested heavily in the

Bahia region, where it is involved in two

large projects which, together, covering

over 30 million m², with km of beach. 9,6

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“NATURAL SWIMMING POOLS PROJECT”

With a total area of 1,078,000 m2, the Natural Swimming Pools Condominium is

located at Praia do Forte, 75 km from Salvador, in a paradise­like region, which boasts

major cultural and sports attractions, an unspoilt landscape and rich cuisine. All in a

very safe, peaceful and exclusive environment.

Maraú ProjectThe largest tourism resort in the Brazilian northeast

The Maraú project is in Maraú­Itacaré, in the Bahia region that is much sought after by tourists from all over the world for its natural beauty of vast beaches lined with

coconut palms. The Maraú project will be built on a site with a total area of 25,000,000 m² and 8km of beachfront.

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AmorimLuxury

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Tom Ford InternationalThe luxury goods sector is considered a business areawith a potentially strong future

The Américo Amorim Goup is an

important shareholder in the US­

b a s e d c o m p a n y T o m F o r d

International, a brand that has won

internat ional recognit ion and

renown for its presence in the luxury

goods market.

The main aim of Americo Amorim’s

investment in the company was to

contribute to the Brand’s process of

internationalisation, which today has

over 120 points of sale all over the

world, with own shops, franchising

and shop­in shop.

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Project

An essential name in the fashion world, the international high couture brand Tom Ford is built around a

shareholder structure with a majority stake held by Tom Ford himself (63.75%), while the Américo Amorim Group

is one of the remaining reference shareholders. The Américo Amorim Group embraced this project in 2007 with

the objective of supporting and participating in an important international expansion scheme. With both men's

and women's collections, Tom Ford is present in the world's major markets, from the USA to Europe and Asia.

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Edifício Amorim IIRua da Corticeira, 34Apartado 474536­902 Mozelos VFR ­ Portugal

Tel. (+351) 227 475 800Fax (+351) 227 475 801E­mail geral@amorimholding.ptwww.grupoamericoamorim.com