Promoting knowledge and conservation of the ANNUAL REVIEW _ 2 3 _

´CHAIRMAN’S MESSAGE José Soares dos Santos

2018 was a year of celebration and investment.

Celebration because Oceanário commemorated 20 years of high-quality public service, in ´SHAREHOLDER support of Ocean conservation. The Oceano Azul Foundation, a non-profit ´Vision foundation under Portuguese private On top of honouring the past, we assumed that this celebration had to value the present and law whose purpose is to contribute to Ocean warrant the future. the conservation and sustainable use of the ocean, is the sole shareholder of conservation is Thus, on the 22nd of May, we celebrated our anniversary under two main themes – gratitude Oceanário de Lisboa. for our employees for their daily commitment to excellent results, and the reinforcement of a responsibility Oceanário de Lisboa’s guiding values. shared by all. We invested over EUR 5 million in the facility, making 2018 our highest year of investment yet. We also invested in our core values, which we believe will ensure our future. We launched a new gift shop and restaurant on the ground floor of Oceanário de Lisboa. A different kind of restaurant and gift shop, under the “SeaTheFuture” brand. This new project has the ambitious goal to have 95% of its products be sustainable by 2020. We will be consistent and “walk the talk”, allowing our visitors to have a unique experience, where consumption is not synonymous ´GOVERNING BODIES ´Mission with environmental degradation.

PRESIDING BOARD OF THE GENERAL MEETING To encourage 20 years later, Oceanário received two new sea-otters in a highly complex and successful Chairman operation, which will allow us to continue to efficiently raise awareness about the fragility of Tiago Ferreira Lemos people to learn the north pacific ecosystem for the next 20 years. Secretary Nuno de Deus Pinheiro We reached over 158 000 children through our educational programmes. With the Oceano Azul more about the Foundation, we used our know-how to develop an innovative program - “Educating for a Blue BOARD OF DIRECTORS Generation” - that aims to make the theme “Ocean” permanently present in the Portuguese primary school education. Chairman ocean and make José Manuel da Silveira e Castro Soares dos Santos In 2018 we once again increased the number of visitors, more than 1.4 million, and increased Members all citizens aware income by 9% to more than EUR 18.5M. For the third time running, we were named by João Miguel Meister Falcato Pereira TripAdvisor the best aquarium in the world, despite more than 3 months of construction with Tiago Filipe Olavo de Pitta e Cunha of their duty to an impact on the quality of the visit. Pedro Miguel de Frias Torres Curto Simões David José Ferreira Azevedo Lopes conserve their I believe we have paid a fair tribute to the institution’s 20-year history over the past year.

AUDIT COMMITTEE In the future, Oceanário will become even more impactful and relevant in serving the Ocean. Auditor natural heritage, ERNST & YOUNG AUDIT & ASSOCIADOS - SROC, S.A. I hope that in 20 years we will be able to celebrate 40 years of service to the Ocean with the represented by João Alves ou Luís Rosado by changing their same satisfaction we celebrated 2018. Substitute Rui Abel Serra Martins behaviour. _ 4 5 _

´VISITORS 1 438 744 (+6%)

´VISITOR’S SATISFACTION INDEX 89% 2018 ´TRIPADVISOR RATING in numbers Best Aquarium in the World

´INVESTMENT IN OCEAN EDUCATION € 427 000

´ PARTICIPANTS IN EDUCATIONAL ACTIVITIES 158 137 (-6%)

´VIEWS OF OCEANÁRIO FILMS 4,5 million (+83%)

´SUPPORT TO CONSERVATION PROJECTS € 465 000

´CONSERVATION PROJECTS 16

´OPERATING INCOME 18.7 M€ (+9%)

´NET INCOME 1.9 M€ (-25%)

´INVESTMENTS IN EQUIPMENT 5.1 M€ (+191%) _ 6 7 _ Thrill Oceanário20 Years de Lisboa Inaugurated on May 22nd 1998, during EXPO’98, Oceanário de Lisboa celebrated its 20th anniversary in 2018. The celebrations included the inauguration of the new gift and inspire shop and restaurant spaces. On the anniversary day, the Portuguese broadcasting television channels (RTP, SIC and TVI) opened their evening news live from the central aquarium.

Lobby remodel Inaugurated in May 2018 and designed by the Architect Peter Chermayeff, the new lobby configuration with the installation of the glass façade greatly improved the comfort of this central area of the visiting path. The new lobby better uses this space, while increasing the area available for the installation of new exhibitions and content.

Two new sea otters Oceanário de Lisboa welcomed two new sea otters, Odi and Kasi, who were born in Alaska in 2017. The two young males were rescued and rehabilitated by the Alaska Sealife Centre, a marine recovery centre. The support of Oceanário de Lisboa was vital to ensure their survival. The introduction into the Pacific habitat and the approach to the two female sea otters already present in Oceanário de Lisboa, Micas and Maré, were a success.

´VISITORS New zebra shark in the central aquarium A new zebra shark (Stegostoma fasciatum) was (+6%) introduced in the central aquarium. This species is 1 438 744 classified as “Vulnerable” by the International Union for the Conservation of Nature. This zebra shark, born in The Record number Deep aquarium, in England, in December 2015, is part of of visitors for the sixth the European breeding programme for this species. consecutive year _ 8 Thrill and inspire 9 _

Renovated gift shop and restaurant spaces New species With the goal of creating an innovative ambiance, engaging visitors with the institution’s values and mission, Oceanário de Lisboa opened in May 2018 with a completely renovated ground floor, which includes a new gift shop, restaurant and cafeteria. #SeaTheFuture Sailfin snapper California sheep head Atlantic Southern pygmy leatherjacket Starfish Symphorichthys spilurus Semicossyphus pulcher scaber Brachaluteres jacksonianus Pentanogaster duebeni New movement for Indian Ocean Habitat Pacific Habitat Flatfish Aquarium in the Atlantic Sea-Dragons Aquarium Sea-Dragons Aquarium Gallery sustainable consumption Oceanário de Lisboa took another step towards sustainability, reshaping the whole concept associated with the gift shop and with the restaurant, taking on the “Sharks, a mission by Brian challenge of reducing the environmental impact of its Skerry” exhibition by products. National Geographic In order to do so, it created the #SeaTheFuture One of the most emblematic exhibitions of National movement, which aims to redesign the future of the Geographic, an extraordinary trip into the world of sharks, ocean, protecting the marine natural capital through an was exhibited for the first time in , in the new lobby active society promoting sustainable consumption and in of Oceanário de Lisboa. With 50 photographs by Brian environmentally friendly changes in behaviour. Skerry, the exhibition aims to raise awareness among the public to the danger of extinction of these and the importance of their protection.

“Keep the Clean” exhibition by Skeleton Seas The exhibition by “Skeleton Sea – Sea Art” was located in the main lobby with nine art installations made from marine litter found on beaches and removed from the sea, intending to warn of the dangers to which seabirds are subject due to plastic pollution in the ocean.

Renovated Eng. Mário Abreu auditorium In order to improve the visitor’s experience, the Eng. Mário Abreu Auditorium was renovated, including the pavement, the installation of more robust and comfortable chairs and of a bigger new monitor with better resolution. _10 Thrill and inspire 11 _

New institutional film Elected the A new institutional film was produced, making it possible to share with all visitors the day-to-day of the various teams that ensure the activities of Oceanário de Lisboa, Best Aquarium offering an inside look at the work developed in the areas of conservation, education, biology, engineering, in the World operations and maintenance. by Tripadvisor New APP: for the third time audio tour guides A new App was launched to improve all visitor’s experience. This App provides access to an audio guide, Investments triple available in six languages, where it is also possible to In order to ensure the continuity of the highest standards discover all the curiosities of the inhabitants of Oceanário required in the management and maintenance of all de Lisboa. equipment, facilities and support areas, an important and extensive improvement programme was carried out, resulting in a total investment of € 5.1 million, equivalent World ocean day: visit to three times the investment made in the previous year. from the Prime Minister Oceanário de Lisboa welcomed the visit of Prime Minister António Costa on World Ocean Day. During this visit, he 100 % Clean electric energy reinforced the importance of the ocean for humankind In the second half of 2018, Oceanário de Lisboa adopted and the role of Oceanário de Lisboa in the creation of a a consumption policy of 100 % clean electric energy. Blue Generation. This Green Energy comes exclusively from certified, 100 % renewable energy sources, characterised by their maximum respect for the environment, reducing Certification associated CO2 emissions. and accreditation New parking spaces for reduced mobility visitors 2 new parking spaces were created for reduced mobility vehicles, connecting these with the inclusive pedestrian path created in 2017. This initiative reinforces the promotion of better accessibility in the surrounding public space, eliminating physical barriers and promoting comfort, autonomy and safety. _ 1 2 13 _ Discover Oceanário de Lisboa maintains cooperative partnerships and relationships with a broad network of similar institutions, as well as national and international scientific organisations. This collaborative network is an important tool to share knowledge regarding conservation Success in breeding of research. It is a pioneer in the reproduction 6 species allows new births of some species, and it also collaborates with at Oceanário de Lisboa universities and European projects, participating in national and foreign specialised conferences. Animals bred at the Oceanário de Lisboa sent to 8 other aquariums

Participation in breeding programmes of 16 species

Training initiatives offered to 8 national and international institutions _14 Discover 15 _

Participation in committees and associations New area of intervention: assessing the risk of extinction of marine species Together with the Species Survival Commission (SSC) of the International Union for Conservation of Nature (IUCN), Oceanário de Lisboa has created a new area of Scientific publications intervention for their biology team – the “IUCN Marine Historical separation and present-day structure of common dolphinfish (Coryphaena RED LIST Officer” will be 100 % dedicated to assessing the hippurus) populations in the and . ICES Journal of risk of extinction of marine species. Marine Science, Maggio T, Allegra A, Andaloro F, Barreiros JP, Battaglia P, Butler CM, Cuttitta A, Fontes J, Freitas R, Gatt M, Karakulak FS, Macias D, Nicosia A, Oxenford HA, Saber S, The Red List of Threatened Species is the largest and Rodrigues NV, Yildiz T, Sinopoli M. most comprehensive repository of information on the risk of extinction of animal and plant species, an essential Mortality, growth and regeneration following fragmentation of reef-forming corals tool for the development and planning of conservation under thermal stress. Journal of Sea Research, Dias, Marta; Ferreira, Ana; Gouveia, Raúl; initiatives. Cereja, Rui; Vinagre, Catarina.

Synergistic effects of warming and lower salinity on the asexual reproduction of reef- With its IUCN Marine RED LIST Officer, Oceanário de forming corals. Ecological Indicators. Dias, Marta; Ferreira, Ana; Gouveia, Raúl; Vinagre, Lisboa intends to make a significant contribution to Catarina. achieve the objective of increasing the number of marine species assessed. Anaesthetics and analgesics used in adult fish for research: A review. Laboratory animals Martins, Tânia, et al.

Can the Diving Industry Promote Marine Conservation and Enhance Environmental Awareness? (Sal Island, Cape Verde Case). The Open Fish Science Journal, Oliveira, Miguel Tiago; Erzini, Karim; Bentes, Luís; Santos, Miguel Neves.

Communications in specialised conferences

Professional and curricular internships at Oceanário de Lisboa _16 17 _

Sea turtle conservation External electronic marking programme in São Tomé methodology allows to and Principe increase the scientific Tatô Programa Association | Sea Turtle knowledge about the angel Conservation shark The main activities developed during the Angel Shark 2017/2018 season included: protection, mon- itoring and management of spawning beach- Zoological Society of London, Universidad es; communication, education, awareness de Las Palmas de Grand Canaria and participation of local communities in tur- e Zoological Research Museum Alexander tle conservation initiatives; and training of lo- Koenig cal community members, national authorities Developed in the Canary Islands since 2014, and technicians for the conservation of sea it aims to develop a methodology to imple- turtles. ment an ethically-acceptable, open source low-cost tag.

Study on the effect of Learn more about the climate change in coastal presence of mobulas in the fish communities azores and in the eastern Conservation Rebreath: Intertidal reefs, nurseries atlantic As part of its conservation mission, in temperate regions Manta Catalog Azores Oceanário de Lisboa continuously invests MARE/ISPA-IU Okeanos R&D Centre of the University of Aims at monitoring the effects of climate the Azores in the development of studies, training and change on temperate waters, fish shoals, and The project seeks to understand the knowledge acquisition, by financing projects young invertebrates living in intertidal rocky importance of habitats in the Azores in the field of marine biodiversity conservation zones. The project exists since 2009 and in- as Essential Fish Habitats for increased cludes biweekly data collection at the Marine awareness of the lifestyle and migration developed by several national and foreign Protected Area of Avencas. patterns of various manta ray species in institutions. Macaronesia and other Atlantic islands. _18 Conservation 19 _

Ocean Conservation Fund Oceanário de Lisboa and Oceano Azul Foundation set up the Ocean Conservation Fund to address critical challenges surrounding the conservation of marine ecosystems. Each edition of the Fund will have a different theme related to the conservation of marine species and ecosystems.

“Threatened Marine Species. From Science To Awareness” € 150 000 for conservation projects dedicated to marine species classified as: “Critically Endangered”, “Endangered” and “Vulnerable”, according to the IUCN Red List of Threatened Species. Study the behaviours and Rehabilitate marine animals ways of life of the bull rays and return them to nature Increase scientific Track the movements Fly with Bull Rays Ecomare centre for recovery of knowledge about the of eels in the Azores marine animals IMAR - Sea Institute of the Azores sperm whale in the Madeira Eel Trek Seeks to monitor bull ray populations, by University of Aveiro archipelago Gaspar Frutuoso Foundation implementing the first intraspecific photo- Under the collaboration protocol in place with Whale Tales identification methodology. the University of Aveiro for the management Based on satellite telemetry methods, as well of the ECOMARE Centre for Recovery of Ma- ARDITI – Associação Regional para as genetic and ecological studies, the project rine Animals, located in Ílhavo, the Oceanário o Desenvolvimento da Investigação, aims to study and understand the distribution, de Lisboa continued to contribute with its an- Tecnologia e Inovação population dynamics, movements and other factors that determine the migration period of nual financial support for the rehabilitation of Developed in the insular waters of the European eel (Anguilla anguilla). marine animals and their return to nature. Macaronesia, with particular focus on the Madeira archipelago, where there is little information on the habitat use and the physiological condition of the sperm whale (Physeter macrocephalus). This project’s Save the methodology is multi-disciplinary and innovative, combining the fields of spatial Ria Formosa ecology, ecophysiology and ecotoxicology. sea horses Campaign Campaign to draw attention and alert the lo- cal, regional and national community for the importance of Ria Formosa as a national natu- ral capital/heritage to be preserved, dissem- inate the current state of seahorse popula- tions and contribute to removing their threats, ensuring their future continuity through be- havioural change and the cooperation of var- ious stakeholders. _20 Conservation 21 _

Ocean Conservation Fund The importance of oceanic islands for migratory sharks lslandShark University of the Azores /OMA – Observatório do Mar dos Açores The project aims to answer the following Marine Protected Areas Marine Protected Areas question: “Are there breeding grounds for migratory sharks in the Macaronesian Promote the expansion Identification, description Archipelagos, and what is their role in the of the selvagens islands and scientific support of resilience of Atlantic populations?” The marine protected area ecologically or biologically research plan is focused on two key species Oceanário de Lisboa, together with the significant marine areas in - the hammerhead shark and the tope shark - Oceano Azul Foundation, sponsored a legal Portugal and is based on non-invasive and non-lethal study on the legislative process necessary techniques, a key requirement to ensure the Institute for Nature Conservation and to implement the expansion of the marine well-being of endangered species as they are Forests protected area surrounding the Selvagens handled, and on state-of-the-art biotelemetry Islands, in Madeira, which was submitted This initiative aims to contribute to the Unit- and genomics technology. to the competent authorities, and is now ed Nations Convention on Biological Diversity waiting for the proposal presented to be (CBD) process of identifying and describing adopted. Ecologically or Biologically Significant Marine Areas (EBSAs) in the Atlantic northeast.

Sustainable fisheries Promote the sustainability of small-scale fishing in Ocean Conservation Fund Ocean Conservation Fund Portugal Assessing ray and shark Create ecological With the aim of implementing a co-manage- populations awareness about sharks ment pilot case in small-scale fishing in Portu- gal, a previous analysis was carried together FindRayShark and rays with ANP/WWF Portugal and EDF – Environ- MARE | Centro de Ciências do Mar e do Shark Attract mental Defence Fund on small-scale fishing Ambiente MARE | Centro de Ciências do Mar e do in Portugal, on the current policy and gov- Aims to contribute to the conservation of rays Ambiente ernance, and on possible legal constraints, and sharks worldwide, through assessment with a view to assess the potentiality of im- Its main objectives are to collect and analyse of their populations, implementing an plementing a pilot project with a possible data relating to undeclared fisheries, illegal innovative and non-invasive technological national implementation. Together with local fishing or the volume of discards, and approach. The project will help to improve NGOs, fishermen, government and scientists, promote ecological awareness about sharks the management of marine habitats and and through this project, the goal is to obtain and rays, through initiatives and activities resources, promoting management initiatives a prosperous and resilient ocean, providing specially designed to raise awareness and best practice guides, and raising a higher return for fishing communities and among fishermen, administrators and public awareness among the general public through simultaneously ensuring the sustainability of administration technicians, school-aged activities of dissemination of the study results, marine resources. young people and the general public, whose for a shared responsibility to safeguard these activity relates to the marine environment and marine species. the conservation of these species. _22 23 _

´PARTICIPANTS IN EDUCATIONAL ACTIVITIES 158 137 ´INVESTMENT IN OCEAN LITERACY € 427 000

Educate and engage Oceanário de Lisboa’s educational activities aim to contribute to raising ocean literacy in Portugal, based on the values of sustainability and the need for conservation of marine biodiversity. In order to contact and raise awareness of a greater number of people, promoting knowledge of the ocean and the desire to contribute to its conservation, Oceanário de Lisboa increased in 2018 the number of mobilisation and training projects for a “Blue Citizenship” society. _ 2 4 Educate and engage 25 _

43 000 CHILDREN Climate Marine Plasticology Brings awareness to Change children about plastic highlighted pollution in the ocean in the Education Programme Oceanário de Lisboa’s Education Programme deepens the knowledge about the ocean through a vast educa- tional programme of activities taking place in the aquar- 6 000 ium - a unique educational setting, able to transform and SCOUTS influence children and adults of all ages. With an inno- Learn to redesign their vative approach, the activities for the 2018-19 school year raise the awareness of children and young peo- relationship with ple between the ages of 3 and 18 to the current issue of climate change, encouraging behaviour changes. plastic

30 000 PARTICIPANTS 4 000 VISITORS Vaivém Oceanário Ocean Brings the ocean to Conservation 25 municipalities in Reaches visitors at São the country Mateus Fair, in Viseu _26 Educate and engage 27 _

Francisco Lufinha Education for a Blue Generation School Tour Unprecedented programme brings ocean literacy to classrooms Inspires young people to have a Oceano Azul Foundation and Oceanário de Lisboa, with the support of the proactive attitude towards the sea Directorate-General for Education, created the pilot project “Education for a Blue Generation”, which aims to transform Portugal’s future generations into European citizens with more knowledge about the ocean. The project is based on the development of ocean literacy with all children 6 800 residing in Portugal, between the ages of 5 and 10, by training primary school YOUNG PEOPLE teachers (the first cycle of basic education) and the integration of the first text- book on the ocean in a school context. Joana The pilot project began in the municipality of Mafra, involving all schools in the Municipality. It had the participation of 181 teachers in a 12-hour training initia- Schenker tive, certified by the Scientific Council of Educational Training. It also included World champion and five- a textbook on the ocean, which came with an activity kit. It is hoped that this time national bodyboard action brings blue literacy to nearly 4 000 students of this Municipality. champion is the new ocean leader who shares her experience on the beaches of Portugal and her concerns about marine litter

9 152 STUDENTS From Algarve learn how to protect the ria Formosa seahorses _28 Educate and engage 29 _

Water Sports Raise young people’s awareness for responsible attitudes towards the ocean. Offered vessels to 8 schools across the country 8 million PEOPLE Tv campaign On the important role that each person has in reducing ocean waste Communication promotes ocean knowledge Oceanário de Lisboa’s communication aims to promote knowledge of the ocean and inspire citizens’ to the duty of its conservation, bringing the important themes and issues regarding the ocean to all visitors and to those who do not visit Oceanário de Lisboa. It also seeks to promote the activities carried out by Oceanário de Lisboa, factors that con- tribute to the motivation for visiting the aquarium. _30 31 _ Financial information

VISITORS 1,438,744 FINANCIAL RESULTS THOUSANDS OF EUROS 1,360,582 6,766 1,264,952 5,920 1,143,995 1,148,658 5,444 1,037,750 1,019,684 971,953 966,578 968,873 951,543 952,580 986,703 888,695 914694 918,752 910,910 901,912 920,084 860,035 2,836 2,659 2,494 2,324 2,480 2,101 2,192 1,879 1,519 1,481 1,361 1,406 1,493 976 1,165

2010 2011 2012 2013 2014 2015 2016 2017 2018

EBITDA 2.324 2.659 2.101 2.192 2.480 2.836 5.444 6.766 5.920

EBIT 1.874 1.995 1.385 1.638 1.955 1.953 3.243 4.587 3.752

1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 EARNINGS BEFORE TAXES 1.840 1.955 1.329 1.580 1.960 1.931 1.868 3.334 2.464

NET INCOME 1.361 1.406 976 1.165 1.493 1.519 1.481 2.494 1.879

REVENUE THOUSANDS OF EUROS

VARIATION VARIATION 2018 2017 ADMISSIONS REVENUE VALUE % THOUSANDS OF EUROS 15,928 14,903

Admissions 15.928 14.903 1.025 7% 13,165 INVESTIMENTS THOUSANDS OF EUROS 11,313 Shop 1.929 1.140 789 69% 9,490 2014 2015 2016 2017 2018 Shop Rentals 257 542 -285 -53% General investments 149 61 44 1.015 3.012 Sponsorship 115 187 -72 -39% of the company

Rental Of Event Facilities 85 60 25 41% Temporary Exihibhition 392 561 0 0 1.099 5,075 Other Income And Gains 373 375 -2 0% Engineering and Projects 125 181 1.200 642 761

TOTAL REVENUE 18.688 17.207 1.481 9% 2014 2015 2016 2017 2018 Commercial 18 19 114 1 79

Education 11 7 21 36 65

Biology 42 12 61 41 55 and Conservation 1,746 1,472 Operations 0 0 32 11 4 COSTS 737 856 THOUSANDS OF EUROS Communication 0 15 0 0 0 VARIATION VARIATION 2018 2017 TOTAL 737 856 1.472 1.746 5.075 2014 2015 2016 2017 2018 VALUE %

Cost of goods sold 662 367 295 80%

External supplies and services 8.942 7.343 1.599 22%

Staff costs 2.714 2.375 339 14%

Depreciation and amortisation costs 2.168 2.179 -11 0%

Interests 1.314 1.289 25 2%

Other costs and losses 422 320 102 32%

TOTAL COSTS 16.224 13.873 2.351 17% Promoting knowledge and conservation of the ocean ANNUAL REVIEW