Galp Energia SGPS S A : informs about the qualifying holding of T. Rowe Price International Funds Inc., subsidiary of T. Rowe Price Group Inc.

ANNOUNCEMENT

January 11, 2022

Qualifying holding of T. Rowe Price International Funds Inc. (subsidiary of T. Rowe Price Group Inc.)

In accordance with articles 16 and 17 of the Portuguese Securities Code, Galp hereby discloses the following information:

On 10 January 2022, T. Rowe Price International Funds Inc. notified the Company that, on 6 January 2022, it decreased its indirect holdings in Galp's voting rights from 2.00% to 1.99%, below the 2.0% threshold. This change did not impact the qualifying holding of T. Rowe Price Group Inc., its parent company, which maintains holdings above the 5.0% threshold.

The full chain of controlled undertakings through which the voting rights and/or the financial instruments are effectively held are disclosed in the attachment.

		Number of voting rights	% of voting rights
		Held directly	Held indirectly		Held directly		Held indirectly
	ISIN: PTGAL0AM0009	--		16,567,802		--	1.99%
	(Ordinary shares)
	Total		16,567,802			1.99%

Galp Energia, SGPS, S.A.

Investor Relations:	Contacts:	Website:
	Tel: [phone]
Otelo Ruivo, Director	Fax: [phone]	www.galp.com/corp/en/investors
Inês Clares Santos		Email: [e-mail]
João Antunes	Address:
João G. Pereira	Rua Tomás da Fonseca,	Reuters: GALP.LS
Teresa Rodrigues	Torre A, 1600-209 Lisbon, Portugal
		Bloomberg: GALP PL

This document may include forward-looking statements, including, without limitation, regarding future results, namely cash flows, dividends, and shareholder returns; liquidity; capital and operating expenditures; performance levels, operational or environmental goals, targets or commitments and project plans, timing, and outcomes; production rates; developments of Galp's markets; and impacts of the COVID-19 pandemic on Galp's businesses and results; any of which may significantly differ depending on a number of factors, including supply and demand for oil, gas, petroleum products, power and other market factors affecting them; the outcome of government policies and actions, including actions taken to address COVID-19 and to maintain the functioning of national and international economies and markets; the impacts of the COVID-19 pandemic on people and economies; the impact of Galp's actions to protect the health and safety of its employees, customers, suppliers and communities; actions of Galp's competitors and commercial counterparties; the ability to access short- and long-term debt markets on a timely and affordable basis; the actions of consumers; other legal and political factors, including changes in law and regulations and obtaining necessary permits; unexpected operating events or technical difficulties; the outcome of commercial negotiations, including negotiations with governments and private entities; and other factors discussed in Galp's Management Report & Accounts filed with the Portuguese Securities Market Commission (CMVM) for the year ended December 31, 2020 and available on our website at galp.com. All statements other than statements of historical facts are, or may be deemed to be, forward-looking statements. Forward-looking statements express future expectations that are based on management's expectations and assumptions as of the date they are disclosed and involve known and unknown risks and uncertainties that could cause actual results, performance or events to differ materially from those expressed or implied in such those statements. Galp and its respective representatives, agents, employees or advisers do not intend to, and expressly disclaim any duty, undertaking or obligation to, make or disseminate any supplement, amendment, update or revision to any of the information, opinions or forward-looking statements contained in this document to reflect any change in events, conditions or circumstances. This document does not constitute investment advice nor forms part of and should not be construed as an offer to sell or issue or the solicitation of an offer to buy or otherwise acquire securities of Galp or any of its subsidiaries or affiliates in any jurisdiction or an inducement to engage in any investment activity in any jurisdiction.

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Date:22 October 2015

ESMA/2015/1597

Standard form for notification of major holdings

NOTIFICATION OF MAJOR HOLDINGS (to be sent to the relevant issuer andto the competent authority)i

1. Identity of the issuer or the underlying issuer of existing shares to which voting rights are at- tachedii:

Galp Energia SGPS SA

2. Reason for the notification (please tick the appropriate box or boxes):

[X] An acquisition or disposal of voting rights

• ] An acquisition or disposal of financial instruments
• ] An event changing the breakdown of voting rights
• ] Other (please specify)iii:

3. Details of person subject to the notification obligationiv :

Name:	City and country of registered office (if applicable):
T. Rowe Price International Funds, Inc.	Baltimore, Maryland, USA

1. Full name of shareholder(s) (if different from 3.)v: T. Rowe Price International Stock Fund
2. Date on which the threshold was crossed or reachedvi:
3. January 2022

1. Total positions of person(s) subject to the notification obligation:

	% of voting rights at-	% of voting rights		Total number of
	through financial instru-	Total of both in %
	tached to shares (to-	voting rights of is-
	ments	(7.A + 7.B)
	tal of 7.A)	suervii
	(total of 7.B.1 + 7.B.2)
Resulting situation
on the date on which	1.99%	0.00%	1.99%	829,250,635
threshold was
crossed or reached
Position of previous	2.00%	0.00%	2.00%
notification (if appli-
cable)

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7. Notified details of the resulting situation on the date on which the threshold was crossed or reachedviii:

A: Voting rights attached to shares

Class/type of	Number of voting rightsix	% of voting rights
shares
Direct	Indirect	Direct	Indirect
ISIN code (if possi-
(Art 9 of Directive	(Art 10 of Directive	(Art 9 of Directive	(Art 10 of Directive
ble)
2004/109/EC)	2004/109/EC)	2004/109/EC)	2004/109/EC)
PTGAL0AM0009		16,567,802		1.99%

SUBTOTAL A	16,567,802	1.99%

B 1: Financial Instruments according to Art. 13(1)(a) of Directive 2004/109/EC

			Number of voting rights
Type of financial in-	Expiration	Exercise/	that may be acquired if	% of voting rights
strument	datex	Conversion Periodxi	the instrument is exer-
			cised/ converted.

SUBTOTAL B.1

B 2: Financial Instruments with similar economic effect according to Art. 13(1)(b) of Directive 2004/109/EC

Type of financial	Expiration	Exercise/	Physical or cash	Number of
Conversion Pe-	% of voting rights
instrument	datex	settlementxii	voting rights
riod xi

SUBTOTAL B.2

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8. Information in relation to the person subject to the notification obligation (please tick the applica- ble box):

• ] Person subject to the notification obligation is not controlled by any natural person or legal en- tity and does not control any other undertaking(s) holding directly or indirectly an interest in the (underlying) issuer.xiii

[X] Fullchain of controlled undertakings through which the voting rights and/or the

financial instruments are effectively held starting with the ultimate controlling natural person or legal entityxiv:

	% of voting rights	% of voting rights	Total of both if it
	if it equals or is	through financial in-
	equals or is higher
Namexv	higher than the	struments if it equals
than the notifiable
	notifiable thresh-	or is higher than the
	threshold
	old	notifiable threshold

T. Rowe Price International

Funds, Inc.

T. Rowe Price International

Stock Fund

1. In case of proxy voting: [name of the proxy holder] will cease to hold [% and number] voting rights as of [date]
2. Additional informationxvi:

Done at Baltimore, Maryland, USA on 10 January 2022.

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