In the High Court of Justice, Chancery Division, Companies Court, CR-2016-003540, CR-2016-003539 and CR-2016-003531

Debtors: OI S.A. (“OI”), TELEMAR NORTE LESTE (“TELEMAR”), OI MOVEL S.A. (“MOVEL”)

Nature of businesses: The debtors do not conduct any business in England.

Addresses of debtors: The address of the debtors’ centres of main interests are: Oi: R.Lavradio, No. 71, 2nd floor, Rio de Janeiro, 20.230—070, Brazil; Telemar: R.General Polidoro, No 99, Rio de Janeiro, Brazil, 22.280—002; Movel: Setor Comercial Norte, Quadra 3, Bloco A, Edificio Estacao Telefonica, terreo (parte 2), CEP 70.713-900 City of Brasilia, Distrito Federal.

Order: The following order was made on 23 June 2016 (2:45 pm) in respect of each debtor

1. The Brazilian restructuring proceeding which has been commenced in respect of the debtors (companies incorporated under the laws of Brazil) in the Bankruptcy Court of Rio de Janeiro in Brazil pursuant to Federal Law No. 11.101 of February 9, 2005 is hereby recognised as a foreign main proceeding in accordance with the UNCITRAL Model Law on Cross-Border Insolvency as set out in Schedule 1 to the Cross-Border Insolvency Regulations 2006 (S.I. 2006 No 1030).

2. Subject to paragraph 3 below:

(i) commencement or continuation of individual actions or individual proceedings concerning each debtor’s assets, rights, obligations or liabilities is stayed;

(ii) execution against each debtor’s assets is stayed; and

(iii) the right to transfer, encumber or otherwise dispose of any assets of each debtor is suspended.

3. The stay and suspension referred to above shall be the same in scope and effect as if each debtor had been made the subject of a winding-up order under the Insolvency Act 1986.

4. The requirement to give 5 business days’ notice to the debtors is waived.

Name and address of foreign representative: Richard Hudson, of McKinsey & Company, 1 Jermyn St, London SW1Y 4UH.