Announcement | Lisbon | 15 December 2022
Material Fact disclosed by Oi
PHAROL, SGPS S.A. hereby informs on the Material Fact disclosed by Oi, S.A., according to the company's announcement attached hereto.
Oi S.A. - In Judicial Reorganization
Federal Taxpayers' (CNPJ/ME) No. 76.535.764/0001-43
Board of Trade (NIRE) No. 33.3.0029520-8
Publicly-Held Company
MATERIAL FACT
Closing of the Judicial Reorganization of Oi and its subsidiaries
Oi S.A. - In Judicial Reorganization ("Oi" or "Company"), in accordance with Paragraph 4 of Article 157 of Law No. 6,404/76 and the provisions of CVM Resolution No. 44/21, hereby informs its shareholders and the market in general that, yesterday after market closed, the 7th Corporate Court of the Capital of the State of Rio de Janeiro has pronounced, pursuant to art. 63 of Law No. 11,101/05, the decision decreeing the end of the judicial reorganization of the Company and its wholly-owned,direct and indirect subsidiaries, Oi Móvel S.A. - In Judicial Reorganization, Telemar Norte Leste S.A. - In Judicial Reorganization, Copart 4 Participações S.A - In Judicial Reorganization, Copart 5 Participações S.A. - In Judicial Reorganization (all of them succeeded by merger by Oi), Portugal Telecom International Finance BV - In Judicial Reorganization and Oi Brasil Holdings Coöperatief U.A. - In Judicial Reorganization ("Closing of the Judicial Reorganization Decision").
The granting of judicial reorganization represented an important achievement for the transformation of Oi's operations, pursuing its long term sustainability through the implementation of its Strategic Plan, focused on (i) accelerating revenues from the core businesses and search and creation of new sources of revenue, (ii) readjusting its costs structure, (iii) equating of the operational and regulatory liabilities of the fixed telephony concession and its legacy operations and (iv) provisioning of digital solutions and fiber optic connections that aim to improve the people lives and companies operations across the country.
The Closing of the Judicial Reorganization Decision attests the fulfillment of the obligations assumed to its creditors until the date of the end of the judicial reorganization
as established in the Judicial Reorganization Plan ratified by the 7th Corporate Court of the Capital of the State of Rio de Janeiro.
With the main planned steps successfully executed, with emphasis on the conclusion of the sales of the UPIs Mobile Assets and InfraCo, the Company has paid the debt with the National Economic and Social Development Bank - BNDES (Banco Nacional de Desenvolvimento Econômico e Social), in the amount of BRL 4.6 billion - the largest individual creditor; settlement of Mobile's bridge loan, in the amount of BRL 2.4 billion; the acquisition, via public offering, of 98.71% of the Notes due in 2026, in the amount of BRL 4.4 billion; and the payment of InfraCo's convertible debenture, in the amount of BRL 3.5 billion.
It is noteworthy that the bankruptcy credits not yet paid off, as well as illiquid credits whose triggering event is prior to the request for Judicial Reorganization remain subject to the effects of the PRJ and the Amendment to the PRJ, in accordance with the Law No. 11,101/05 and the Closing of the Judicial Reorganization Decision, and will be paid in accordance with the deadlines, terms and conditions established in these instruments.
Thus, the Closing of the Judicial Reorganization Decision established a specific system for handling the processes of contestation and qualification of credits in the judicial reorganization of Oi, in order to guarantee equal treatment among the creditors subject to its PRJ.
The full text of the decision, which has not yet been published, is attached to this Material Fact and is also available for download on the Company's website (www.oi.com.br/ri) and on the CVM's System Empresas.NET (www.cvm.gov.br), in addition to the B3 S.A. website - Brasil, Bolsa, Balcão (www.b3.com.br).
Additionally, as informed in the Material fact disclosed by the Company on 10.27.2022, Oi has begun the negotiations with its creditors, with the assistance of Moelis & Company, aiming to improve its debt profile and thus guaranteeing the Company's commitment to proceed with the execution of its Strategic Plan and continue to carry out all the necessary actions to restore its long term viability.
The Company will keep its shareholders and the market informed of any development regarding the subject matter of this Material Fact.
Rio de Janeiro, December 15, 2022.
Oi S.A. - In Judicial Reorganization
Cristiane Barretto Sales
Chief Financial and Investor Relations Officer
Poder Judiciário do Estado do Rio de Janeiro
Sétima Vara Empresarial da Capital
Juiz Fernando Viana
SENTENÇA
I- Das questões fáticas
Chega ao fim o mais impactante e relevante processo de recuperação judicial do judiciário brasileiro, e um dos casos mais complexos do mundo jurídico contemporâneo, com capilaridade em todo território nacional e nos diversos setores da sociedade civil, com reflexos não apenas na jurisdição brasileira, como também na jurisdição estrangeira.
Versou-se sobre o pedido de recuperação judicial do gigantesco conglomerado econômico denominado GRUPO OI, composto pela OI S.A., sociedade anônima de capital aberto, com sede e principal estabelecimento no Estado do Rio de Janeiro; TELEMAR NORTE LESTE S.A., sociedade anônima de capital aberto, com sede e principal estabelecimento no Estado do Rio de Janeiro; OI MÓVEL S.A., sociedade anônima de capital fechado, com principal estabelecimento nesta cidade do Rio de Janeiro e sede na Cidade de Brasília, Distrito Federal; COPART 4 PARTICIPAÇÕES S.A., sociedade anônima de capital fechado, com sede e principal estabelecimento no Estado do Rio de Janeiro; COPART 5 PARTICIPAÇÕES S.A., sociedade anônima de capital fechado, com sede e principal estabelecimento no Estado do Rio de Janeiro; PORTUGAL TELECOM INTERNATIONAL FINANCE B.V., pessoa jurídica de direito privado constituída de acordo com as Leis da Holanda, com sede em Amsterdam, Holanda, e principal estabelecimento nesta cidade do Rio de Janeiro; e OI BRASIL HOLDINGS COÖPERATIEF U.A., pessoa jurídica de direito privado constituída de acordo com as Leis da Holanda, com sede em Schipol, Holanda, e principal estabelecimento nesta cidade do Rio de Janeiro, que se dedicam às atividades de prestação de serviços de telefonia, internet e rede de fibra ótica e digital, dentre outros.
Originada da junção das gigantes nacionais do setor de telecomunicações - TNL e a Brasil Telecom S.A., essas antes nascidas a partir da privatização da TELEBRÁS, em 1998 - em pouco tempo o Grupo Oi se tornou o primeiro provedor de serviços de telecomunicações do Brasil com presença nacional totalmente integrada em uma só marca, presente em 5.570 municípios brasileiros, atendendo aproximadamente a 70 milhões de clientes.
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Processo no. 0203711.65.2016.8.19.0001
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