DISCLAIMER FOR NON-QUALIFIED RECOVERY SETTLEMENT

IMPORTANT NOTICE

IMPORTANT:  You must read the following disclaimer before continuing.  The following disclaimer applies to the Information Statement relating to the Non-Qualified Recovery, the press releases and any and all other documents that are accessible on this website, whether received by accessing this website, e-mail or otherwise received as a result of electronic communication, and you are therefore advised to read this disclaimer page carefully before reading, accessing or making any other use of any such information.  In accessing the Information Statement and such other documents on this website, you agree to be bound by the following terms and conditions, including any modifications made to them from time to time, each time you receive any information from Oi S.A. – Under Judicial Reorganization (“Oi”), Portugal Telecom International Finance B.V. – Under Judicial Reorganization (“PTIF”) and Oi Brasil Holdings Coöperatief U.A. – Under Judicial Reorganization (“Oi Coop”; and together with Oi and PTIF, collectively the “Issuers”). 

The Information Statement should not be forwarded or distributed to any other person and should not be reproduced in any manner whatsoever.  Failure to comply with these instructions may result in a violation of the applicable laws and regulations of the United States, the United Kingdom or other jurisdictions.

Confirmation of your representation:  By accessing the Information Statement you shall be deemed to have represented to the Issuers and to D.F. King as Information Agent (the “Information Agent”), that:

  • you are a Non- Qualified Holder;

  • you are able to make all of the representations, warranties and covenants as set forth in the Information Statement (see “Procedures for Surrendering Notes—Representations, Warranties and Covenants of Non-Qualified Holders”); and

  • you consent to delivery of the by electronic transmission to you.

The Information Statement has been sent to you in an electronic form.  You are reminded that documents transmitted via this medium may be altered or changed during the process of transmission and consequently none of the Issuers, the Information Agent or any person who controls, or is a director, officer, employee or agent, of any of them, or any affiliate of any such person, accepts any liability or responsibility whatsoever in respect of any difference between the Information Statement distributed to you in electronic format and the hard copy version available to you on request from the Information Agent at the address specified on the back cover of the Information Statement.

You are reminded that the Information Statement has been delivered to you on the basis that you are a person into whose possession the Information Statement may lawfully be delivered in accordance with the laws of the jurisdiction in which you are located or resident and you may not, nor are you authorized to, deliver, transmit, forward or otherwise distribute the Information Statement, directly or indirectly, to any other person.

You must comply with all laws that apply to you in any place in which you possess the Information Statement.  You must also obtain any consents or approvals that you need in order to participate in the Non-Qualified Recovery Settlement and surrender Notes.  Neither the Issuers nor the Information Agent is responsible for your compliance with these legal requirements.

Neither the communication of this Information Statement nor any other offer material relating to the Non-Qualified Recovery Settlement is being made, and this Information Statement has not been approved, by an authorized person for the purposes of section 21 of the UK Financial Services and Markets Act 2000.  Accordingly, this Information Statement is not being distributed to, and must not be passed on to, the general public in the United Kingdom.  Rather, the communication of this Information Statement as a financial promotion is being made to, and is directed only at: (i) persons outside the United Kingdom; (ii) persons falling within Article 43(2) of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005 (the “Order”), (iii) investment professionals to whom a financial promotion may be made in accordance with Article 19 of the Order; (iv) high net worth companies, and other persons to whom it may lawfully be communicated, falling within Article 49(2)(a) to (d) of the Order; or (v) any person to whom it may otherwise lawfully be made in accordance with the Order (such persons together being “relevant persons”).  This Information Statement is only available to relevant persons and the transactions contemplated herein will be available only to, or engaged in only with relevant persons, and this financial promotion must not be relied or acted upon by persons other than relevant persons.