Banco Comercial Portugues

Capital/Financing Update • Sep 3, 2024

BANCO BPI, S.A.

Registered office: Avenida da Boavista, 1117, Porto Registered at Commercial Registry of Porto under registration number PTIRNMJ 501 214 534 Share capital: € 1 293 063 324.98

ANNOUNCEMENT

New issuance of 275 million euros of undated deeply subordinated notes ("Additional Tier 1") and early redemption of 275 million euros of Additional Tier 1

• 1. Banco BPI, S.A. informs that it has decided to:
  2. a) issue undated deeply subordinated notes (Additional Tier 1) ¹ under its Euro Medium Term Note Programme, in the amount of 275 million Euros, with perpetual maturity and with optional early redemption after November 2029, the terms of which were set today. This issue will be solely subscribed by CaixaBank, S.A. and settlement will take place on 16 th September;
  3. b) early redeem, on 19th September 2024, an undated deeply subordinated notes issue (Additional Tier 1) ² of 275 million Euros, fully subscribed by CaixaBank, S.A..
• 1. The new issue maintains the proportion of Additional Tier 1 in the total capital ratio, with a lower cost compared to the refixing cost of the early redeemed issue. Prior authorisation has been obtained from the European Central Bank for this replacement.
• 1. The issue also maintains the contribution for the eligible instruments to comply with the MREL requirement (Minimum Requirement for Own Funds and Eligible Liabilities).
• 1. The new issue will have a fixed coupon rate of 7.125% per year for the first 5 years and 2 months, which will be refixed from that date every 5 years, with reference to the prevailing 5-year mid-swaps rate plus a spread of 4.821%.

Porto, 3 September 2024

Banco BPI, S.A.

¹⁾ These notes meet the conditions set out in regulation EU 575/2013 for its classification as an additional tier 1 own funds instrument, have a perpetual maturity and optional early redemption after 5 years and 2 months, and are issued under the Euro Medium Term Note Programme of Banco BPI, S.A.

²⁾ Undated Deeply Subordinated Notes (Additional Tier 1), with ISIN code PTBPIFOM0021, Series 1132 issued under the Euro Medium Term Note Programme of Banco BPI, S.A.