Banco Comercial Portugues

Capital/Financing Update • May 26, 2023

BANCO BPI, S.A.

Registered office: Av. Boavista, 1117, Porto Registered at Commercial Registry of Porto under registration number PTIRNMJ 501 214 534 and tax identification number 501 214 534 Share capital: € 1 293 063 324.98

ANNOUNCEMENT

Moody's upgrades Banco BPI rating to Baa1

Banco BPI, S.A. informs that the rating agency Moody's has upgraded Banco BPI and its senior unsecured debt rating, from Baa2 to Baa1, with Stable Outlook.

The rating agency affirmed the A3 rating of Banco BPI's long-term deposits, with an improvement in the Outlook to Positive, in line with the outlook for Portugal's rating.

Moody's highlights the improvement in the operational environment of the activity in Portugal and the performance shown by Banco BPI, with emphasis on Banco BPI's asset quality metrics, better than the sector's average, its sound capitalisation and the improvement in the domestic activity profitability.

Porto, 26th May 2023

Banco BPI, S.A.