Qualifying holdings

Qualifying holdings calculated under the terms of Article 20 of Securities Code, as of June 29th 2012

Entity	Number of shares	% of capital	% of non-suspended voting rights
Semapa SGPS SA	582,192,407	75.86%	80.84%
Semapa - Soc. de Investimento e Gestão, SGPS, SA	340,571,392	44.37%	47.29%
Seinpar Investments B.V.	241,583,015	31.48%	33.55%
Seminv - Investimentos, SGPS, SA	1,000	0.00%	0.00%
Cimentospar - Participações Sociais, SGPS, Lda	1,000	0.00%	0.00%
Duarte Nuno d'Orey da Cunha (*)	16,000	0.00%	0.00%
Gonçalo Picão Caldeira (*)	20,000	0.00%	0.00%
Treasury stock	47,360,601	6.17%

(*) Member of Portucel Governing Bodies


Share capital

The company's share capital is divided into seven hundred and sixty-seven million and five hundred thousand nominative shares with a par value of 1 euro each.

According to the company's Bylaws, one vote shall be counted for each one thousand shares.


Share information

Trading code	PTI.LS
ISIN code	PTPTI0AM0006
Symbol	PTI

Total number of shares:	767.500.000
Shares traded on Euronext	767.500.000

Dividend Policy

According to the Company Bylaws, the profits of the fiscal year, established in accordance with the law, shall be applied:

• five per cent for the constitution, reinforcement and as applicable, the restoration of the legal reserve, up to the legal limit, and
• the remainder will be distributed in accordance with the General Meeting resolution, by simple majority of the votes corresponding to the capital stock.

» Dividends Table