Banco Comercial Portugues

Investor Presentation • Oct 30, 2024

Disclaimer

• l The information in this presentation has been prepared under the scope of the International Financial Reporting Standards ('IFRS') of BCP Group for the purposes of the preparation of the consolidated financial statements under Regulation (CE) 1606/2002, as amended.
• l The figures presented do not constitute any form of commitment by BCP in regard to future earnings.
• l The figures for the first nine months of 2023 and 2024 were not audited.
• l The information in this presentation is for information purposes only and should be read in conjunction with all other information made public by the BCP Group.

Nos outros deve ser:

Os valores dos primeiros nove meses de 2023 e de 2022 não foram objeto de auditoria.

Highlights

A Solid and Efficient Bank

Profitability	▪ Group's net income of 714.1 million in the first nine months of 2024, representing an increase of 9.7% when compared to the same period of 2023, with the core operating profit reaching 1,765.9 million ▪ In Portugal, net income amounted to 606 million in the first nine months of 2024, corresponding to an increase of 8.8% compared to the same period of 2023 ▪ Bank Millennium net income stood at 127 million in the first nine months of 2024, despite charges of 5501 million related with CHF mortgage loan portfolio (out of which 347.62 million in provisions) and costs related to the extension of credit holidays (PLN 36.63 mortgage) which totaled million. ▪ Millennium bim net income stood at 63.6 million in the first nine months of the year
	▪ 4 ratio4 Solid capital ratios. CET1 stood at 16.5% (official ratio, without the Q3'24 net income, of 16.2%) and total capital at 20.8% (official ratio, without the Q3'24 net income, of 20.5%), corresponding respectively to an increase of 152bp and 134bp compared with the same period of last year, reflecting the strong capacity of organic capital generation
	▪ LCR5 NSFR5 LtD5 Liquidity indicators well above regulatory requirements. at 314%, at 175% and at 68%. Eligible assets available to discount at ECB of 28.2 billion
Business	▪ Group's total Customer funds grew 9.1% year on year to 100.8 billion
Model Rendibilidade	▪ Reduction in non-performing assets compared to September 2023: 92 million in NPE and 60 million in foreclosed assets
	▪ Cost of risk at Group level stood at 39bp in the first nine months of 2024, which compares with 50bp in the same period of last year
	▪ Customer base grew 4%, highlighting the 11% increase in mobile Customers, which represented 71% of the total active customers at the end of September 2024

1 Includes provisions for legal risk, costs with out of court settlements and legal advice (before taxes and non-controlling interests). Does not include provisions for legal risk on CHF mortgages of Euro Bank (guaranteed by Société Générale).

³ Before taxes and non-controlling interests. Reduction of 10 million compared to Q2'24 due to the review of the estimated rate of adherence to the credit holidays.

⁴ Fully implemented ratio including unaudited net income for 9M24.

² Does not include provisions for legal risk on CHF mortgages of Euro Bank (guaranteed by Société Générale). Before taxes and non-controlling interests.

⁵Liquidity Coverage Ratio (LCR); Net Stable Funding Ratio (NSFR); Loans to Deposits Ratio (LtD).

Customer base growth Based on the quality of the Teams and distinctive digital skills

Customer counting criteria used in the Strategic Plan.

Innovation focused on Customer needs translates into accelerated growth in Mobile usage and sales

2 Interactions (Millennium website and app), individuals includes AB

3 Includes mobile, online and ATMs, excludes branches and contact center that counts for 0.4% of total transactions

4 Digital sales (Millennium website and app) in number of operations 5 Digital channels satisfaction (NPS), 5 largest banks, Source: BASEF-Marktest 7

7

Resultado líquido de XXX milhões no primeiro trimestre de 2024 Net income of 714.1 million in the first nine months of 2024

(Million euros)	9M23	9M24	%	D
interest income Net	2 117 5 ,	2 110 8 ,	-0 3%	-6 7
Commissions	578 5	601 8	+4 0%	+23 3
income Core	2 695 9 ,	2 712 5 ,	+0 6%	+16 6
Operating costs	-854 6	-946 6	+10 8%	-92 0
operating profit Core	1 841 3 ,	1 765 9 ,	-4 1%	-75 4
1 Other income	96 7	-20 3	-	-117 1
Of which: sale of of Millennium Financial Services 80%	127 0	-	-	-127 0
Operating income net	1 938 0 ,	1 745 6 ,	-9 9%	-192 4
2 Results modification on	-14 8	-62 4	-	-47 6
Impairment and other provisions	-813 9	-627 4	-22 9%	+186 5
Of which: impairment Loans	-211 4	-166 5	-21 3%	+44 9
3 Of which: legal risk (Poland) CHF mortgages on	-482 5	-347 6	-28 0%	+135 0
before Income tax	109 1 3 ,	055 8 1 ,	8% -4	6 -53
, non-controlling interests and discontinued operations Income taxes	-458 6	-341 7	-25 5%	+116 9
income Net	650 7	714 1	+9 7%	+63 4

¹ Dividends from equity instruments, other net operating income, net trading income and equity accounted earnings.| 2 Includes the result of contract changes from the renegotiation of CHF mortgages loans and costs related with the extension of the credit holidays (PLN mortgage) | ³ Does not include provisions for legal risks on CHF mortgages of Euro Bank (guaranteed by Société Générale).

9

Net interest income

Comissões Fees and commissions

Outros proveitos Other income

Portugal

¹Positive one-off effect of 127 million (117.8 million booked in net trading income and 9.2 million booked in other operating income) related with the sale of Millennium Financial Services stake (80%) in Q1'23 as a result of the strategic partnership in the bancassurance business. | ² Net trading income includes -42.8 million in 9M23 and -67.1 million in 9M24 of costs related to out-of-court settlements with Customers related with CHF loan portfolio. In Q3'24 was a recognized a gain related with the sale of loans in Portugal | ³Other operating income includes +34.0 million in 9M23 and +37.3 million in 9M24 related with the compensation for provisions for legal risk on CHF mortgages of Euro Bank (guaranteed by Société Générale | ⁴ Includes charges related with negotiation costs and legal procedures of CHF loans.

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Operating costs

¹ Adjusted cost to income : without the positive one-off effect related with the sale of 80% of Millennium Financial Services stake (international operations) in Q1'23

Cost of risk and provisions

reserves

1 Incudes an impairment reversal occurred in Q2'24, without this effect cost of risk would stand at 49bp at the group level and 50bp for Portugal ² Does not include provisions for legal risks on CHF mortgages of Euro Bank (guaranteed by Société Générale): 34.0 million in 9M23 and 37.3 million in 9M24.

Continued decrease of NPEs

Portugal

16

Customer funds

Loan portfolio

Group Capital and liquidity

19

Solid capital ratios

Common equity tier 1 (CET1)

• CET1 capital ratio of 16.5% (official ratio, without the Q3'24 net income, of 16.2%) and total capital ratio of 20.8% (official ratio, without the Q3'24 net income, of 20.5%), corresponding respectively to an increase of 152bp and 134bp compared to the same period last year, reflecting the strong capacity for organic capital generation
• Capital ratios comfortably above SREP requirements even considering the reserve for sectorial systemic risk notified by the BdP** which aims to reinforce the resilience of the banking sector of a potential deterioration in economic conditions and/or unexpected significant correction in residential property prices. With reference to September 2024, this reserve on a proforma basis results in an estimated increase in capital requirements of 29bp, from October 2024.
• Surplus of 7.1pp between CET1 ratio and the SREP requirements not including the capital conservation and the O-SII buffers, and of 10.6pp if including such buffers (6.8pp and 10.3pp respectively, for the total capital ratio)
• Buffers for which there are limitations to results distribution: 706bp to CET1, 633bp to T1 and 679bp to total capital

Including unaudited net income for 9M'24. . *Minimum prudential requirements since March, 2024.

**The Banco of Portugal's decision translates into the requirement to comply with a reserve for sectoral systemic risk of 4% on the amount of risk exposures on the retail portfolio of loans to individuals collateralized by residential properties located in Portugal, calculated in pursuant to paragraph 3 of article 92 of Regulation (EU) 575/2013, from October 1, 2024, onwards, at the highest level of consolidation in Portugal, considering the applicable legal framework

Stronger capital position

Leverage ratio

(Milhões de euros*) (Milhões de euros*) (Fully implemented, latest available data)

Leverage ratio in comfortable levels (6.5% as of September 2024) higher when comparing to European banks

RWA density

(Milhões de euros)* (RWAs as a % of assets, latest available data)

RWAs density in very conservative values (40% as of September 2024) comparing favourably with the values registered by most of the European markets

MREL requirements and Funding Plan

MREL position (BCP Resolution Group - 30 Sep 2024)*

• Resolution strategy: MPE (Multi Point of Entry)²
• BCP Resolution Group : Perimeter centred in Portugal
• Preferred Resolution Measure: Bail-in
• No subordination requirements have been applied to the BCP Resolution Group
• As of September 30, 2024, BCP complied with MREL requirement, including CBR, applicable since July, 2024 (with a buffer of 6% of TREA, amounting to c. EUR 1,500 million)
• Funding Plan execution
  • Exercise of the option for early repayment of the entire AT1 issue, issued on January 31, 2019, with a coupon of 9.25%, on January 31, 2024
  • 400 million of AT1 issued on January 11, 2024, with a coupon of 8.125% during the first 5.5 years
  • Exercise of the option for early repayment of the Senior Preferred issue due in October 2025
  • 500 million of SP issued on October 21, 2024, with a maturity of 5 years and Call Option on the year 4

MREL - Minimum Requirement for own funds and Eligible Liabilities | TREA – Total Risk Exposure Amount; LRE - Leverage Ratio Exposure; CBR - Combined Buffer Requirements *Preliminary data

¹Requirements covered by the 2023 Resolution Planning Cycle, applicable since July 2024. MREL requirements are subject to periodic review by the SRB and changes in the regulatory framework.

²In addition to the resolution perimeter centered in Portugal, BIM in Mozambique and Bank Millennium in Poland were established as additional groups. With regard to Mozambique, as European rules do not apply, no minimum MREL

requirement has been set. With regard to Bank Millennium were set minimum requirements of MREL - TREA of 18.03% and MREL - TEM of 5.91% from 18 June 2024. 3 Including unaudited net income for 9M 2024.

Robust liquidity position

(Billion euros)

23

Portugal

Profitability in Portugal

Net income Net operating revenue

(Million euros*) (Million euros*) (Million euros)

• Net income reached 606 million in 9M24 representing an increase of 8.8% from 9M23

• Net income was influenced by the sale of loans in Portugal, the reduction of mandatory contributions and impairments (impairment reversal) as well as by the strict management of operating costs

(Million euros)

Operating Costs

(Million euros*)

(Million euros)

Net interest income

(Million euros)

The normalization of interest rates led to an increase in both deposit costs and wholesale funding, along with a decrease in performing credit determined a net interest income decrease, despite the positive effect of loan book repricing and the higher yield from the securities portfolio

Commissions and other income

	9M23	9M24	YoY
Banking commissions fees and	355.4	364 .5	+2 6%
Cards and transfers	120 9	118 3	-2 2%
and Loans guarantees	60 2	58 0	7% -3
Bancassurance	64 0	81 2	+26 8%
Customer related account	106 8	107 2	+0 4%
Other fees and commissions	3 4	-0 2	-105 4%
commissions Market related fees and	64 .5	70 .3	+9 .1%
Securities operations	25 3	29 6	+17 2%
and distribution Asset management	39 2	40 7	9% +3
Total fees and commissions	419 8	434.9	+3.6%

Commissions Other income

Operating costs

Operating Costs Employees

NPEs decrease

Non-performing exposures (NPE) NPE build-up

(Milhões de euros*) (Milhões de euros*) (Million euros)

Loan impairment (net of recoveries)

(Milhões de euros)* (Million euros)

(Million euros)

(Million euros)	Sep 24 Sep 23 vs.	Sep 24 23 Dec vs.
Opening balance	192 1 ,	107 1 ,
outflows/inflows Net	174	206
Write-offs	-94	-88
Sales	-227	-179
Ending balance	045 1 ,	045 1 ,

• NPE in Portugal total 1,045 million at the end of September 2024, a decrease of 147 million from September 2023
• The decrease from September 2023 results from sales of 227 million, write-offs of 94 million and net inflows of 174 million
• The decrease of NPE from September 2023 is attributable mainly to a reduction of 160 million of other NPE
• Cost of risk of 34bp in September 2024, 53bp in September 2023, with the ratio loan-loss reserves / NPE ascending to 87% and 81%, respectively

NPE include loans to Customers only

¹ Value impacted by an impairment reversal occurred in Q2'24, without this effect the cost of risk would stand at 50bp .

NPE coverage

Other NPE total coverage*

NPE total coverage* NPL>90d total coverage*

• Total coverage* ≥100%, for both individuals and companies, and for both NPE categories (NPL>90d and other NPE)
• Coverage by loan-loss reserves are stronger in loans to companies, where real-estate collateral, usually more liquid and with a more predictable market value, accounts for a lower coverage than in loans to individuals: coverage by loan-losses was 109% for companies NPE as of September 2024, reaching 148% for companies NPL>90d

Foreclosed assets and corporate restructuring funds

(Milhões de euros)* Sales of foreclosed assets (Million euros)

Foreclosed assets Corporate restructuring funds

(Million euros)

• Net foreclosed assets were down by 51.2% between September 2023 and September 2024
• 504 properties were sold during 9M24 (686 properties in 9M23), with sale values exceeding book value by 21 million
• Restructuring funds amount to 390 million in September 2024

* The participation in Turismo Algarve FCR was reclassified to investments in associated companies in Q2'24

Customer funds and loans to Customers

Total Customers Funds* Loans to Customers (gross)

Performing loans in Portugal

Performing loans portfolio ¹

Evolution of performing loans

The Bank maintains a prominent position in the corporate segment:

• ✓ Leadership in PME Leader programme for the 6th consecutive year with a 33% market share
• ✓ Leadership in Inovadora COTEC programme for the 4th consecutive year, with a market share of 49%
• ✓ Leading Bank in Satisfaction: Best Bank for companies, Main Bank, Most innovative Bank, Most efficient Bank and Bank with the Most Appropriate Products according to DATAE 2024
• ✓ Leading Bank in Factoring and Confirming, with factoring invoicing of more than 7 billion euros up until September 2024 and a market share of 21.2%*
• ✓ Leading Bank in International Business: Leadership in Trade Finance, with a market share of 25.8%**
• ✓ Leading Bank in Leasing, with 569 millions of new leasing business in 9M24 and market share of 26%*
• ✓ Leading Bank in EIF/EIB: #1 Commercial bank of the EIB in Portugal and #1 Commercial Bank of the EIF in Europe
• ✓ Leading Bank in BPF INVEST EU guarantees with 31% market share
• ✓ Distinct digital offer: Digital Account Opening, availability of M2030 for European Funds, iziBizi for ERP/Accounting and digital subscription of business products

These awards are the exclusive responsibility of the attributing entities.

International operations

Contribution from international operations

euros2 (Million )	9M23	9M24
Poland	107 0	127 0
Mozambique	67 5	63 6
Other	-2 7	2 0
income international operations Net	171 8	192 7
Non-controlling int (Poland+Mozambique)	-74 7	-84 6
Exchange effect rate	-3 1	--
Contribution international operations from	93 9	108 1

35 ¹Excludes FX mortgage legal risk provisions, as well as costs of litigations and settlements with Clients, profit from the sale of 80% stake in Millennium Financial Services (127 million), extension of the credit holidays (PLN mortgage), linear distribution of BFG resolution fund fee and hypothetical bank tax until May 2024 | ²Subsidiaries' net income presented for 9M23 reflect the same exchange rate as of 9M24 for comparison purposes..

Evolução positiva do resultado líquido Bank Millennium with resilient net income

requirements of 8.1% (9.9% for T1) and 12.2% respectively

¹ FX effect excluded.€/Zloty constant at September 2024 levels: Income Statement 4.30; Balance Sheet 4.28.

² Excludes FX mortgage legal risk provisions, as well as costs of litigations and settlements with Clients, profit from the sale of 80% stake in Millennium Financial Services, extension of the credit holidays (PLN mortgage, linear distribution of BFG resolution fund fee and hypothetical bank tax until May 2024. | ³ Does not include provisions for legal risk on CHF mortgages of Euro Bank (guaranteed by Société Générale). Before taxes and non-controlling interests. | ⁴ Reduction of 10 million compared to Q2'24 due to the review of the estimated rate of adherence to the credit holidays.

Aumento expressivo da margem financeira Net interest income increase

Commissions and other income Contributions

(Milhões de euros)* (Milhões de euros*) (Million euros*; does not include tax on assets and contribution to the resolution fund and to the DGF)

+5.4% +13.2%

)

(Million euros* )

9M23 9M24 *FX effect excluded. €/Zloty constant at September 2024 levels: Income Statement 4.30; Balance Sheet 4.28 **Includes a profit of 127 million from the sale of 80% stake in Millennium Financial Services

)

• NPL>90d accounted for 2.2% of total loans as of September 2024 (2.2% as of September 2023)
• Coverage of NPL>90d by loan-loss reserves at 154% as of September 2024 (153% as of September 2023)
• Cost of risk at 53bp

*FX effect excluded. €/Zloty constant at September 2024 levels: Income Statement 4.30; Balance Sheet 4.28. 9M23 9M24

Customers funds and loans to Customers

CHF mortgages

CHF mortgage portfolio

Q3'23 Q4'23 Q1'24 Q2'24 Q3'24

New individual lawsuits # Extrajudicial agreements

Excludes Euro Bank. | *FX effect excluded. €/Zloty constant at September 2024 levels: Income Statement 4.30; Balance Sheet 4.28. | **Out of court settlements mainly booked in Net trading income 40 | ***Actual outstanding B/S provisions differ from the sum of P&L charges due to FX movements and utilizations among others

2022 9M23 2023 3M24 6M24 9M24

Net income reflects Millennium bim's robustness in challenging environment

• Net income of 63.6 million in the first nine months of the year, a reduction of 5.7% compared to the same period last year, reflecting the decrease in net interest income due to the reduction in interest rates and the increase in mandatory reserves and operating costs
• Customer funds increased 10.4%
• Loans to Customers (gross) increased by 1.4%
• Capital ratio of 35.9%

Net interest income reflects the interest rate environment

Sep 23 Sep 24

*FX effect excluded. €/Metical constant at September 2024 levels: Income Statement 69.16; Balance Sheet 71.22

29.4 30.1

9M23 9M24

Commissions

Sep 23 Sep 24

Credit quality

)

• NPL>90d ratio of 3.6% as of September 2024, with coverage by loan-loss reserves of 115% on the same date
• Cost of risk of 48bp in 9M24, 167bp in same period of 2023

Business volumes

Key figures

Strategic Plan: Excelling 24

	9M24		2024
C/I ratio	35%	✓	≈40%
Cost of risk 1	39 bp	✓	≈50 bp
RoE	14.9%	✓	≈10%
CET1 ratio 2	16.5% (16.2% official ratio, without the Q3'24 net income)	✓	>12.5%
NPE ratio	3.4%	✓	≈4%
Share of mobile Customers	71%	✓	>65%
Growth of high engagement Customers 3 (vs 2020)	+17.2%	✓	+12%
Average ESG rating 4	67%		>80%

1 Includes an impairment reversal . Without this effect the cost of risk would stand at 49bp | ²Fully implemented ratio including unaudited net income for 9M24 | ³Active Customers with card transactions in the previous 90 days or funds > €100 (>MZM 1,000 in Mozambique) | ⁴Average of Top 3 indices (DJSI, CDP and MSCI) | NPE include loans to Customers only.

COMMITMENT TO PEOPLE AND SOCIETY

Millennium bcp Foundation Society

Millennium bcp Foundation and Lisboa Cultura: Exhibition "Não Vá o Diabo Tecê-las - Tapestry in dialogue from the Millennium Bcp collection" on display at the Torreão Nascente of the Cordoaria Nacional.

Vitor Cordon Studios: Território/Millennium bcp Foundation Award – career incentive, awarded to one of the young participants of the "Território VII" Program, an internship at NDT 2.

BoCa – Festival Futurama: 3rd edition of the event that presents, in cultural and heritage spaces of Serpa, Mértola, and Beja, artistic experimentation, music, literature, theatre, installations and workshops.

Atlantic Sound Encounters – Composer Francisco de Lacerda Award / Millennium bcp Foundation : The 3 rd edition of the country's largest award for orchestral composition was awarded to the Argentine composer Huayma Tulian.

Millennium bcp signs the "Carta para a Diversidade", an initiative of the European Commission managed in Portugal by APPDI, an association aimed at promoting diversity and equal opportunities in the workplace.

Millennium bcp carries out another Corporate Volunteering initiative with SEMEAR, a social and professional inclusion program that employs young people and adults with cognitive and development difficulties.

As part of the protocol established with CASA – Support Center for the Homeless, Millennium Volunteers participated in 2 pilot initiatives, in Lisbon and Porto, cooperating with the organization in the distribution of meals.

Associated with "PORTUGAL CHAMA", Millennium bcp reinforces prevention messages on its communication platforms during the country's most critical period in terms of forest fires.

Sustainability

Millennium bcp has been named "Best Bank for Sustainable Finance in Portugal" in 2024 by Global Finance magazine, recognizing its leadership for the 3 rd consecutive time in financing projects aligned with sustainability.

Millennium bcp launches campaign to promote the Invest EU program of Banco Português de Fomento: 3,670 million euros to support companies across various sectors of activity."

Millennium bcp leads a banking syndicate to finance the Chicomba

Dam located in southern Angola. This project stands out as a milestone in the sustainable development of the region.

Under the motto "Our blue is also green", ActivoBank joins the Mardive association with the aim of promoting the protection of marine protected areas and increasing environmental literacy.

EXTERNAL RECOGNITION

Millennium bcp : Best Consumer Digital Bank 2024

Millennium bcp : APCC Contact Centers 2024 Best Banking Contact Center in Portugal

Millennium bcp : Distinguished in the ranking of "Companies Committed to Youth"

Millennium bcp : Market Leader - Trade Finance for the 1st time

Bank Millennium: Winner of the PayTech Awards, which recognize technological solutions in the world of finance Millennium bim: Euromoney Magazine,

Bank Millennium: "Best Consumer Digital Bank 2024" and "The Innovators 2024" companies mobile App

Bank Millennium: 3 rd place in "ESG Responsible Governance Ranking"

Bank Millennium: Awarded with the "Service Quality Star"

Bank Millennium: 3 rd place in the "Customer Relationship" category in the Stars of Banking 2024 study

Bank Millennium: For the 10th consecutive time, was distinguished with the title "Reliable Employer"

Bank Millennium Best remote account opening

Bank Millennium: title of Top

Bank Millennium: Distinguished in several categories of the Golden Bank

Employer Polska 2024

ranking

"Best Bank" and "Best Digital Bank" in Mozambique at the Euromoney Awards for Excellence 2024

Millennium bim: Consumer's Choice, in the "Large Banks" category for 2024

Millennium bim: "Best Foreign Exchange Provider" in Mozambique

Millennium bcp: 2024 Consumer's Choice, in the "Large Banks" category for the 4th consecutive year

ActivoBank: 2024 Consumer's Choice, in the "Digital Bank" category for the 6th time

Millennium bcp: Winner in the "Large Banks" category

ActivoBank: Winner in the "Digital Banking" category

Millennium bcp: Leadership in the "Inovadora COTEC" programme for the 4th consecutive year

Appendix

Sovereign debt portfolio

(Milhões de euros*) (Milhões de euros*) (Consolidated, million euros)

	Sep 23	Dec 23	Mar 24	Jun 24	Sep 24	YoY	QoQ
Portugal	6,188	5,656	6,357	7,109	6,656	+8%	-6%
T-bills and other	109	104	721	1,466	947	>100%	-35%
Bonds	6,079	5,552	5,635	5,642	5,710	-6%	+1%
Poland	3,881	4,949	6,507	6,824	7,306	+88%	+7%
Mozambique	533	544	552	536	494	-7%	-8%
Other	8,963	10,944	11,908	12,819	13,533	+51%	+6%
Total	19,564	22,093	25,323	27,288	27,989	+43%	+3%

Sovereign debt portfolio Sovereign debt maturity

• ✓ The sovereign debt portfolio totalled 28.0 billion, 17.7 billion of which maturing in more than 2 years
• ✓ The Portuguese sovereign debt portfolio totalled 6.7 billion, Polish amounted to 7.3 billion and Mozambican amounted to 0.5 billion; "other" includes, among other, sovereign debt from France (4.1 billion), Belgium (3.2 billion), Spain (3.1 billion), Italy (0.9 billion), Germany (0.8 billion), Austria (0.5 billion) and Ireland (0.5 billion)

Sovereign debt portfolio breakdown

Million euros	Portugal	Poland	Mozambique	Other	Total
Trading book	1 006 ,	77	0	270	1 352 ,
1 ≤ year	950	0	0	269	1 220 ,
and 2 1 > ≤ year years	37	4	0	0	4 1
2 and 5 > years ≤ years	5	9 4	0	0	55
5 and 8 ≤ > years years	5	16	0	0	21
and 8 10 ≤ > years years	0	6	0	0	6
10 > years	9	0	0	0	9
Banking book*	5 650 ,	7 230 ,	494	13 263 ,	26 637 ,
1 ≤ year	31	1 403 ,	149	2 931 ,	4 515 ,
and 1 2 > ≤ year years	1 826 ,	879	29	1 760 ,	4 495 ,
2 and 5 > ≤ years years	2 756 ,	4 192 ,	218	5 548 ,	12 715 ,
5 and 8 > years ≤ years	628	507	37	2 868 ,	039 4 ,
and 8 10 ≤ > years years	0	248	6 0	156	464
10 > years	409	0	0	0	409
Total	6 656 ,	7 306 ,	494	13 533 ,	27 989 ,
1 ≤ year	981	1 404 ,	149	3 200 ,	5 735 ,
and 1 2 > ≤ year years	1 863 ,	884	29	1 760 ,	4 536 ,
and 2 5 > ≤ years years	2 762 ,	4 242 ,	218	5 548 ,	12 770 ,
and 8 5 > ≤ years years	633	523	37	2 868 ,	4 061 ,
8 and 10 > years ≤ years	0	254	6 0	156	470
10 > years	418	0	0	0	418

*Includes financial assets at fair value through other comprehensive income (9,785 million) and financial assets at amortized cost (16,851 million). 51

Diversified and collateralised portfolio

Carteira de crédito

• ✓ Loans to companies accounted for 37% of the loan portfolio, including 6% to construction and real-estate sectors, as of Septemeber 2024
• ✓ Mortgage accounted for 50% of the loan portfolio, with low delinquency levels and an average LTV of 60%
• ✓ 83% of the loan portfolio is collateralised

Consolidated net income

(Million euros)	9M23	9M24	YoY	Impact on earnings
Net interest income	2 117 5 ,	2 110 8 ,	-0 3%	-6 7
fees Net and commissions	578 5	601 8	+4 0%	+23 3
Other income*	96 7	-20 3	-	-117 1
operating Net revenue	2 792 7 ,	2 692 2 ,	-3 6%	-100 4
Staff costs	-468 0	-522 7	7% +11	-54 7
Other administrative and depreciation costs	-386 6	-423 9	+9 6%	-37 3
Operating costs	-854 6	-946 6	+10 8%	-92 0
Profit before impairment and provisions	1 938 0 ,	1 745 6 ,	-9 9%	-192 4
Results modification on	-14 8	-62 4	-	-47 6
impairment (net of recoveries) Loans	-211 4	-166 5	-21 3%	+44 9
Other impairment and provisions	-602 4	-460 9	-23 5%	+141 6
modification Impairment provisions Results of and ,	-828 7	-689 8	-16 8%	+138 9
before Income tax	1 109 3 ,	1 055 8 ,	-4 8%	-53 6
Income taxes	-387 4	-262 8	-32 2%	+124 6
income from discontinued be discontinued operations Net to or	0 0	0 3	-3614 0%	+0 3
Non-controlling interests	-71 2	-79 2	+11 2%	-8 0
income Net	650 7	714 1	+9 7%	+63 4

Consolidated balance sheet

(Million euros)	September 30 2024	September 30 2023 (restated) *
ASSETS
Cash and deposits at Central Banks	4,305.5	3,525.8
and advances to credit institutions repayable on demand Loans	231.3	188.0
Financial assets at amortised cost
Loans and advances to credit institutions	1,272.2	1,116.1
and advances Loans to customers	53,937.0	52,921.3
Debt instruments	20,090.5	17,036.1
Financial assets at fair value through profit or loss
Financial assets held for trading	1,797.7	1,098.5
Financial assets not held for trading mandatorily at fair value through profit or loss	377.2	463.7
Financial assets designated at fair value through profit or loss	34.7	30.7
Financial assets at fair value through other comprehensive income	12,800.9	8,673.9
Hedging derivatives	38.9	82.1
in associated companies Investments	441.5	354.5
Non-current assets held for sale	42.8	81.6
Investment property	38.5	15.1
Other tangible assets	585.7	596.2
Goodwill and intangible assets	248.3	197.2
Current tax assets	10.2	9.7
Deferred tax assets	2,289.2	2,723.4
Other assets	1,684.1	2,046.0
TOTAL ASSETS	100,226.3	91,160.1

	30 September 2024	30 September 2023 * (restated)
LIABILITIES
Financial liabilities at amortised cost
Resources from credit institutions	972.4	1,240.2
Resources from customers	80,059.0	73,373.8
Non subordinated debt securities issued	3,294.5	2,056.9
Subordinated debt	1,418.6	1,354.5
Financial liabilities at fair value through profit or loss
Financial liabilities held for trading	201.9	269.0
Financial liabilities at fair value through profit or loss	3,466.3	3,502.6
Hedging derivatives	42.0	137.3
Provisions	1,110.6	662.0
Current tax liabilities	107.6	173.5
Deferred tax liabilities	6.5	9.0
Other liabilities	1,508.9	1,542.5
TOTAL LIABILITIES	92,188.2	84,321.3
EQUITY
Share capital	3,000.0	3,000.0
Share premium	16.5	16.5
Other equity instruments	400.0	400.0
Legal and statutory reserves	384.4	316.4
Treasury shares	-	-
Reserves and retained earnings	2,451.4	1,542.0
Net income for the period attributable to Bank's Shareholders	714.1	650.7
Non-controlling interests	1,071.7	913.2
TOTAL EQUITY	8,038.0	6,838.8
TOTAL LIABILITIES AND EQUITY	100,226.3	91,160.1

*On 1 January 2023, Millenniumbcp Ageas Grupo Segurador, S.G.P.S., S.A. (Mbcp Ageas), an entity 49.9% owned by the Group and accounted for under the equity method, adopted simultaneously IFRS9 - Financial Instruments and IFRS17 - Insurance Contracts. During the first half of 2024, Mbcp Ageas reviewed the transition adjustments relating to the adoption of those IFRS, which resulted in a reduction in the amount of the participation by EUR 9.1 million against reserves. The investments in Lusofundo – Fundo de Investimento Imobiliário Fechado (42.5%) and Fundo Especial de Investimento Imobiliário Eurofundo (35.1%), received at the end of 2022 as part of the sale process designated as project Crow (sale of hospitality assets and of all the units in two corporate restructuring funds), were reclassified to investments in associates with reference to the end of that year. The book value of shares in these two entities on 30 September 2024 totalled EUR 26.6 million (EUR 28.4 million on 30 September 2023), with the contribution of these entities to equity accounted earnings being EUR 0.4 million in the first nine months of 2024 (EUR -1.9 million in the first nine months of 2023, previously recognised in net trading income).

Consolidated income statement per quarter

		Quarterly
(Million euros)	3Q 23	4Q 23	1Q 24	2Q 24	3Q 24
interest income Net	743 1	708 3	696 2	701 3	713 2
Dividends from equity instruments	0 0	0 6	0 0	0 8	0 0
fees and commission income Net	191 4	193 2	196 4	199 6	205 7
Other operating income	15 7	17 9	-31 4	-39 0	-23 8
Net trading income	-19 9	40 5	-2 9	-2 5	34 6
Equity accounted earnings	18 0	16 5	10 4	21 1	12 2
Banking income	948 3	977 0	868 8	881 4	942 0
Staff costs	160 0	163 8	165 7	0 174	182 9
Other administrative costs	98 5	109 8	107 0	101 6	108 1
Depreciation	34 6	34 3	35 4	35 8	36 2
Operating costs	293 1	307 9	308 1	311 4	327 2
Profit impairment provisions bef and	655 2	669 1	560 7	570 0	614 9
Results modification on	-3 2	-4 6	-7 2	-53 7	-1 5
impairment (net of recoveries) Loans	65 9	28 6	73 5	23 5	69 4
Other impairm . and provisions	199 5	257 4	145 2	147 7	168 0
income income Net before tax	386 6	378 5	334 8	345 1	375 9
Income tax	141 4	150 0	78 1	59 6	125 0
income disc (before . oper.) Net	245 2	228 5	256 6	285 5	250 9
from Net income arising discont . operations	0 0	-2 8	0 0	0 0	0 3
Non-controlling interests	17 8	20 3	22 3	34 5	22 4
income Net	227 5	205 3	234 3	251 0	228 8

Consolidated income statment

(Million euros)

For the 9-month periods ended September 30th, 2023 and 2024

		Internatio nal o peratio ns
	Gro up			P o rtugal			T o tal			B ank M illennium (P o land)			M illennium bim (M o z.)			Other int. o peratio ns
	Sep 2 3	Sep 2 4	Δ %	Sep 2 3	Sep 2 4	Δ %	Sep 2 3	Sep 2 4	Δ %	Sep 2 3	Sep 2 4	Δ %	Sep 2 3	Sep 2 4	Δ %	Sep 2 3	Sep 2 4	Δ %
Interest income	3,191	3,558	11.5%	1,587	1,809	14.0%	1,604	1,749	9.1%	1,381	1,528	10.6%	223	221	-0.7%	0	0	--
Interest expense	1,073	1,448	34.9%	489	806	64.8%	584	642	9.9%	514	572	11.4%	70	70	-1.0%	0	0	-100.0%
N et interest inco me	2,117	2,111	-0.3%	1,098	1,003	-8.6%	1,020	1,107	8.6%	867	956	10.2%	152	151	-0.5%	0	0	100.0%
Dividends from equity instruments	1	1	-32.4%	0	0	-100.0%	1	1	14.8%	1	1	14.8%	0	0	--	0	0	--
Intermediatio n margin	2,119	2,112	-0.3%	1,098	1,003	-8.6%	1,020	1,108	8.6%	868	957	10.2%	152	151	-0.5%	0	0	100.0%
Net fees and commission income	578	602	4.0%	420	435	3.6%	159	167	5.2%	129	137	5.8%	29	30	2.8%	0	0	-100.0%
Other operating income	-56	-94	-66.7%	-67	-24	64.2%	10	-70	<-100%	8	-72	<-100%	2	2	-27.4%	0	0	<-100%
B asic inco me	2,641	2,619	-0.8%	1,451	1,414	-2.5%	1,189	1,205	1.3%	1,006	1,022	1.6%	184	183	-0.3%	0	0	56.4%
Net trading income	106	29	-72.5%	-16	28	>100%	122	1	-99.3%	110	-11	<-100%	12	12	-4.1%	0	0	<-100%
Equity accounted earnings	46	44	-4.2%	43	40	-6.9%	2	3	44.7%	0	0	--	1	1	0.6%	1	2	>100%
B anking inco me	2,793	2,692	-3.6%	1,479	1,483	0.3%	1,314	1,209	-8.0%	1,116	1,011	-9.4%	197	196	-0.6%	1	2	>100%
Staff costs	468	523	11.7%	264	278	5.0%	204	245	20.3%	167	205	23.0%	37	40	8.0%	0	0	100.0%
Other administrative costs	283	317	11.7%	141	151	7.3%	143	166	16.1%	101	122	20.3%	42	44	5.9%	0	0	--
Depreciation	103	107	4.0%	55	55	-0.6%	48	53	9.2%	35	39	11.9%	13	14	2.4%	0	0	--
Operating co sts	855	947	10.8%	460	483	5.0%	395	463	17.4%	303	366	20.9%	92	98	6.2%	0	0	100.0%
P ro fit bef. impairment and pro visio ns	1,938	1,746	-9.9%	1,019	1,000	-1.8%	919	746	-18.9%	813	645	-20.7%	105	9 8	-6.5%	1	2	>100%
Results on modification	-15	-62	<-100%	0	0	--	-15	-62	<-100%	-15	-62	<-100%	0	0	--	0	0	--
Loans impairment (net of recoveries)	211	166	-21.3%	158	97	-38.2%	54	69	28.4%	45	67	46.9%	8	2	-70.9%	0	0	--
Other impairm. and provisions	602	461	-23.5%	74	66	-11.0%	528	395	-25.3%	522	385	-26.2%	3	10	>100%	3	0	<-100%
N et inco me befo re inco me tax	1,109	1,056	-4.8%	787	836	6.3%	323		219 -32.0%	231	131	-43.2%	9 4	8 6	-8.4%	- 2	2	>100%
Income tax	387	263	-32.2%	230	236	2.4%	157	27	-82.8%	130	4	-97.0%	27	23	-14.6%	0	0	--
N et inco me (befo re disc. o per.)	722	793	9.8%	557	601	7.9%	165	192	16.3%	101	127	26.2%	6 7	6 3	-5.8%	- 2	2	>100%
Net income arising from discont. operations	0	0	>100%	0	0	100.0%	0	0	--				0	0	--
Non-controlling interests	71	79	11.2%	0	-5	<-100%	71	85	18.3%	0	0	--	0	0	--	71	85	18.3%
N et inco me	651	714	9.7%	557	606	8.8%	9 4	108	15.1%	101	127	26.2%	6 7	6 4	-5.4%	-74	-83	-11.6%

Glossary (1/2)

Assets placed with Customers – amounts held by Customers in the context of the placement of third-party products that contribute to the recognition of commissions. Balance sheet Customer funds – deposits and other resources from Customers and debt securities placed with Customers. Business Volumes - corresponds to the sum of total Customer funds and loans to Customers (gross). Commercial gap – loans to Customers (gross) minus on-balance sheet Customer funds. Core income - net interest income plus net fees and commissions income. Core net income - net interest income plus net fees and commissions income deducted from operating costs. Cost of risk, net (expressed in basis points) - ratio of loans impairment (P&L) accounted in the period to loans to Customers at amortized cost and debt instruments at amortized cost related to credit operations before impairment at the end of the period. Cost to core income - operating costs divided by core income. Cost to income – operating costs divided by net operating revenues. Coverage of non-performing exposures by impairments – loans impairments (balance sheet) divided by the stock of NPE. Coverage of non-performing loans by impairments – loans impairments (balance sheet) divided by the stock of NPL. Coverage of overdue loans by impairments - loans impairments (balance sheet) divided by overdue loans. Coverage of overdue loans by more than 90 days by impairments - loans impairments (balance sheet) divided by overdue loans by more than 90 days. Debt instruments – non-subordinated debt instruments at amortized cost and financial liabilities measured at fair value through profit or loss (debt securities and certificates). Debt securities placed with Customers - debt securities issued by the Bank and placed with Customers. Deposits and other resources from Customers – resources from Customers at amortized cost and Customer deposits at fair value through profit or loss. Dividends from equity instruments - dividends received from investments classified as financial assets at fair value through other comprehensive income and from financial assets held for trading. Equity accounted earnings - results appropriated by the Group related to the consolidation of entities where, despite having some influence, the Group does not control the financial and operational policies. Insurance products – includes unit linked saving products and retirement saving plans ("PPR", "PPE" and "PPR/E"). Loans impairment (balance sheet) – balance sheet impairment related to loans to Customers at amortized cost, balance sheet impairment associated with debt instruments at amortized cost related to credit operations and fair value adjustments related to loans to Customers at fair value through profit or loss. Loans impairment (P&L) – impairment (net of reversals and net of recoveries - principal and accrual) of financial assets at amortized cost for loans to Customers and for debt instruments related to credit operations. Loans to Customers (gross) – loans to Customers at amortized cost before impairment, debt instruments at amortized cost associated to credit operations before impairment and loans to Customers at fair value through profit or loss before fair value adjustments. Loans to Customers (net) - loans to Customers at amortized cost net of impairment, debt instruments at amortized cost associated to credit operations net of impairment and balance sheet amount of loans to Customers at fair value through profit or loss. Loan to Deposits ratio (LTD) – loans to Customers (net) divided by deposits and other resources from Customers. Loan to value ratio (LTV) – mortgage amount divided by the appraised value of property.

Net commissions - net fees and commissions income.

Net interest margin (NIM) - net interest income for the period as a percentage of average interest earning assets.

Net operating revenues - net interest income, dividends from equity instruments, net commissions, net trading income, other net operating income and equity accounted earnings.

Glossary (2/2)

Net trading income – results from financial operations at fair value through profit or loss, results from foreign exchange, results from hedge accounting operations, results from derecognition of financial assets and financial not measured at fair value through profit or loss.

Non-performing exposures (NPE) non-performing loans and advances to Customers (includes loans to Customers at amortised cost, loans to Customers at fair value through profit or loss and, from 2023, debt instruments at amortised cost associated to credit operations before impairment ) more than 90 days past-due or unlikely to be paid without collateral realisation, if they recognised as defaulted or impaired.

Non-performing loans (NPL) – overdue loans (loans to Customers at amortised cost, loans to Customers at fair value through profit or loss and, from 2023, debt instruments at amortised cost associated to credit operations before impairment) more than 90 days past due including the non-overdue remaining principal of loans, i.e. portion in arrears, plus non-overdue remaining principal. Off-balance sheet Customer funds – assets under management, assets placed with Customers and insurance products (savings and investment) subscribed by Customers.

Operating costs - staff costs, other administrative costs and depreciation.

Other impairment and provisions – impairment (net of reversals) for loans and advances of credit institutions classified at amortized cost, impairment for financial assets (classified at fair value through other comprehensive income and at amortized cost not associated with credit operations), impairment for other assets, namely assets received as payment in kind, investments in associated companies and goodwill of subsidiaries and other provisions.

Other net income – dividends from equity instruments, net commissions, net trading income, other net operating income and equity accounted earnings.

Other net operating income – net gains from insurance activity, other operating income/(loss) and gains/(losses) arising from sales of subsidiaries and other assets.

Overdue loans – total outstanding amount of past due loans to Customers (loans to Customers at amortized cost, debt instruments at amortized cost associated to credit operations and loans to Customers at fair value through profit or loss), including principal and interests.

Overdue loans by more than 90 days – total outstanding amount of past due loans to Customers by more than 90 days (loans to Customers at amortized cost, debt instruments at amortized cost associated to credit operations and loans to Customers at fair value through profit or loss), including principal and interests.

Profit before impairment and provisions – net operating revenues deducted from operating costs.

Resources from credit institutions – resources and other financing from Central Banks and resources from other credit institutions.

Return on average assets (Instruction from the Bank of Portugal no. 16/2004) – net income (before tax) divided by the average total assets (weighted average of the average of monthly net assets in the period).

Return on average assets (ROA) – net income (before minority interests) divided by the average total assets (weighted average of the average of monthly net assets in the period).

Return on equity (Instruction from the Bank of Portugal no. 16/2004) – net income (before tax) divided by the average attributable equity + non-controlling interests (weighted average of the average of monthly equity in the period).

Return on equity (ROE) – net income (after minority interests) divided by the average attributable equity, deducted from preference shares and other capital instruments (weighted average of the average of monthly equity in the period).

Securities portfolio - debt instruments at amortized cost not associated with credit operations (net of impairment), financial assets at fair value through profit or loss (excluding the ones related to loans to Customers and trading derivatives), financial assets at fair value through other comprehensive income and assets with repurchase agreement.

Spread - increase (in percentage points) to the index used by the Bank in loans granting or fund raising.

Total Customer funds - balance sheet Customer funds and off-balance sheet Customer fund.

Total Customer funds - balance sheet Customer funds and off-balance sheet Customer funds.

INVESTOR RELATIONS DIVISION Bernardo Collaço, Head

EQUITY Alexandre Moita +351 211 131 321

DEBT AND RATINGS Luís Morais +351 211 131 337

59

investors@millenniumbcp.pt

BANCO COMERCIAL PORTUGUÊS, S.A. Registered Office: Praça D. João I, 28, Oporto, Share Capital: EUR 3,000,000,000.00. Registered at the Commercial Registry of Oporto, with the single commercial and tax identification number 501 525 882 and the. LEI: JU1U6SODG9YLT7N8ZV32