Registry of PVLDJM

We hereby inform that, on 31^th December, 2018, 100.000.000,00 EUR of commercial paper, with a nominal value of 50.000,00 EUR, of the company PARVALOREM, S.A., shall be registered, regarding the issue "PARVALOREM - 33ª Emissão PC 2011 - PRG 1.000.000.000 EUR (CBI)", under the code PVLDJM (ISIN PTPVLDJM0021).

This issue will be cancelled on 17^th June, 2019.

INTERBOLSA, 28^th December, 2018