

| PHAROL SGPS SA | 24/05/2016 AGM | |
|---|---|---|
| 1 | Receive the Annual Report | For |
| 2 | Approve Consolidated Financial Statements | For |
| 3 | Approve the Dividend | For |
| 4 | Discharge the Company's Management and Supervision | For |
| 5 | Authority to cancel or mantain the limit to the number of the votes that can be hold or exercised by shareholders | For |
| 6 | Approve Remuneration Policy | Oppose |