Banco Comercial Portugues

Investor Presentation • Nov 4, 2022

CONSOLIDATED RESULTS

3Q 22 BANCO BPI CONSOLIDATED RESULTS

04 NOVEMBER 2022

"DISCLAIMER"

• The purpose of this presentation is purely informative and should not be considered as a service or offer of any financial product, service or advice, nor should it be interpreted as, an offer to sell or exchange or acquire, or an invitation for offers to buy securities issued by Banco BPI ("BPI") or any of the companies mentioned herein. The information contained herein is subject to, and must be read in conjunction with, all other publicly available information. Any person at any time acquiring securities must do so only on the basis of such person's own judgment as to the merits or the suitability of the securities for its purpose and only on such information as is contained in such public information set out in the relevant documentation filed by the issuer, having taken all such professional or other advice as it considers necessary or appropriate in the circumstances and not in reliance on the information contained in this presentation.
• BPI cautions that this presentation might contain forward-looking statements concerning the development of its business and economic performance. While these statements are based on BPI's current projections, judgments and future expectations concerning the development of the Bank's business, a number of risks, uncertainties and other important factors could cause actual developments and results to differ materially from BPI's expectations. Such factors include, but are not limited to the market general situation, macroeconomic factors, regulatory, political or government guidelines and trends, movements in domestic and international securities markets, currency exchange rates and interest rates, changes in the financial position, creditworthiness or solvency of BPI customers, debtors or counterparts.
• Statements as to historical performance or financial accretion are not intended to mean that future performance or future earnings for any period will necessarily match or exceed those of any prior year. Nothing in this presentation should be construed as a profit forecast. In addition, it should be noted that although this presentation has been prepared based on accounting registers kept by BPI and by the rest of the Group companies it may contain certain adjustments and reclassifications in order to harmonize the accounting principles and criteria followed by such companies with those followed by BPI.
• In particular, regarding the data provided by third parties, BPI does not guarantee that these contents are exact, accurate, comprehensive or complete, nor it is obliged to keep them updated, nor to correct them in the case that any deficiency, error or omission were to be detected. Moreover, in reproducing these contents by any means, BPI may introduce any changes it deems suitable, may omit partially or completely any of the elements of this document, and in case of any deviation between such a version and this one, BPI assumes no liability for any discrepancy.
• In relation to Alternative Performance Measures (APMs) as defined in the guidelines on Alternative Performance Measures issued by the European Securities and Markets Authority on 5 October 2015 (ESMA/2015/1415), this report uses certain APMs, which have not been audited, for a better understanding of the company's financial performance. These measures are considered additional disclosures and in no case replace the financial information prepared under the International Financial Reporting Standards (IFRS). Moreover, the way the Group defines and calculates these measures may differ to the way similar measures are calculated by other companies. Accordingly, they may not be comparable. Please refer to the Annexes section for a list of the APMs used along with the relevant reconciliation between certain indicators.
• This document has not been submitted to the Comissão do Mercado of Valores Mobiliários (CMVM) (Autoridade Portuguesa do Mercado of Capitais) for review or for approval. Its content is regulated by the Portuguese law applicable at the date hereto, and it is not addressed to any person or any legal entity located in any other jurisdiction. For this reason it may not necessarily comply with the prevailing norms or legal requisites as required in other jurisdictions.
• Notwithstanding any legal requirements, or any limitations imposed by BPI which may be applicable, permission is hereby expressly refused for any type of use or exploitation of the content of this presentation, and for any use of the signs, trademarks and logotypes contained herein. This prohibition extends to any kind of reproduction, distribution, transmission to third parties, public communication or conversion by any other mean, for commercial purposes, without the previous express consent of BPI and/or other respective proprietary title holders. Any failure to observe this restriction may constitute a legal offence which may be sanctioned by the prevailing laws in such cases.

BPI IN SEPTEMBER 2022

Strong support to Families and Businesses Loans grew by 7% and deposits by 8% ( yoy)

Financial strength and low risk NPE of 1.4%, with 153% coverage; CET1 and total capital ratios of 13.5% and 17.1%

Strong social commitment in cooperation with "la Caixa" Foundation 120 M.€ for social investment and support to 200 thousand people over 3 years 4 Bi.€ to support sustainable business turnover

'Best Private Bank in Portugal 2022' for PWM and The Banker magazines

SUSTAINABILITY MASTER PLAN

BPI RESULTS In 9 months 2022

Commercial activity in Portugal	Loans  YoY +1.8 Bi.€ +7%	Deposits  YoY +2.3 Bi.€ +8% Customer Resources +0.9 Bi.€ +2%	 YoY +10% Gross income +10% Net interest income +7% Fee & commission income	Digital Banking Regular users 829 th. BPI app users +84 th.  YoY
Risk and capitalisation	NPE ratio (EBA) 1.4%	NPE coverage 153% (by impairments and collaterals)	Cost of Risk 0.16% (as % of loans and guarantees; 12 months to Sep. 2022)	13.5% CET1 14.9% T1 17.1% Total (Phasing-in)
Profit and profitability	Profit in Portugal YoY  159 M.€ +25%	Recurrent ROTE in Portugal 7.3% (last 12 months)	Cost-to-core income in Portugal 52.0% (last 12 months)	Consolidated net profit  YoY 286 M.€ +18%

CONSOLIDATED NET PROFIT OF 286 M.€ IN SEP. 2022

Profit in Portugal grew 25%, to 159 M.€

In M.€	Sep 21	Sep 22	Δ%
Net profit in Portugal	127	159	25%
BFA contribution	100	102	+2%
BCI contribution	14	25	+70%
Consolidated net profit	242	286	+18%
Activity in Portugal		21	22
Recurrent ROTE	Sep 6	Sep 0%	3% 7
(last months) 12

	 YoY
(1) ▪ Commercial banking gross income	+52 M.€
▪ Change in recurrent costs	-9 M.€
▪ Loan impairments net of recoveries	-1 M.€
Income tax and other ▪	-10 M.€
 YoY net profit in Portugal	+32 M.€

COMMERCIAL BANKING GROSS INCOME INCREASED 9%

6 1) "Gains/(losses) on financial assets & liabilities" and "Other operating income and expenses". Includes regulatory costs of 42 M.€ in Sep.21 and 48 M.€ in Sep.22 with banking sector contribution, additional solidarity levy and contributions to the national resolution fund and single resolution fund.

LOAN PORTFOLIO GREW 7% YoY

Sep 21	Sep 22	YoY	YtD
14 5	8 15	9%	6%
12 7	14 0	10%	7%
1 8	1 8	2%	1%
10 5	10 9	4%	4%
2 1	2 2	2%	3%
27 1	28 9	7%	5%
26 6	28 4	7%	5%
			Loans to Customers by segments

Market share
of total loan portfolio	11.4% +0.4 p.p. YoY (Sep. 2022)

MARKET SHARE GAINS IN MORTGAGE AND CORPORATE LOANS

8

TOTAL CUSTOMER RESOURCES INCREASED 2% YoY

Deposits increased 8% YoY

				Market shares
Sep 21	Sep 22	YoY	YtD
28 0	30 4	8%	5%
10 4	9 5	-8%	-12%
6 0	5 4	-11%	-14%
4 3	4 2	-4%	-9%
0 9	0 3	-	-
39 3	40 2	2%	0%

	Sep 22	YoY 
resources 1 Customer	4% 11	+0 2 p.p.
Deposits	11 0%	+0 2 p.p.
Mutual funds	11 2%	+0 6 p.p.
Capitalisation insurance	18 1%	+0 2 p.p.
Retirement savings plans	11 3%	-0 5 p.p.

COST-TO-CORE INCOME OF 52%

REGULATORY COSTS OF 48 M.€ IN 2022

COST OF CREDIT RISK OF 0.16%

M.€	Sep.21	Sep.22
Loan impairments	62	62
Recoveries	7	3
Subtotal	55	59
Gains on the sale of non-performing loans	23	27
TOTAL	31	32

▪ Sale of 141 M.€ in non-performing loans (gross) in 3rd quarter 22 with a 27 M.€ gain (pre-tax)

On-balance sheet non-allocated impairments: 50 M.€ in Sep.22

242 249 158 87 19 -5 -45 -43 151 47 32 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 Sep 22 0% as % of gross loans and guarantees M.€ Loan impairments net of recoveries 0.82% 0.87% 0.59% 0.34% 0.08% -0.02% -0.18% -0.17% 0.57% 0.17% 0.16% (last 12 months)

BPI MAINTAINS LOW RISK PROFILE AND HIGH COVERAGE

154% 3 M.€ 35 M.€

Sep.22

564 M.€

1.7%

ADEQUATELY COVERED PENSIONS

Employee pension liabilities

M €	Dec 21	Sep 22
Total liability past service	887 1	1 319
funds Pension net assets	1 944	1 712
Level of of pension liabilities coverage	103%	130%
fund Pension return (YTD , non-annualised)	7 2%	-9 7%
Discount rate	1 3%	3 8%

Actuarial deviations	326
and growth and other Wages pensions	-69
from portfolio Income investment	-218
Change the discount in rate	613

BPI MAINTAINS HIGH CAPITALISATION

BPI meets MREL requirements for the start of 2024

15 1) Includes combined capital buffer requirement RWA – Risk Weighted Assets; LRE – Leverage Ratio Exposure.

BALANCED FUNDING AND COMFORTABLE LIQUIDITY

1) 12-month average, in accordance with the EBA guidelines. Average value (previous 12 months) of the calculation components: Liquidity reserves (11 452 M.€); Total net outflows (4 452 M.€).

2) High Quality Liquid Assets (HQLA) of 11.4 Bi.€ and other assets eligible as collateral with ECB of 1.2 Bi.€

16

BPI, A BANK FOR FAMILIES

With new proposals and solutions at every step of your life

Future

• Apple Pay service for all the Bank's Visa network individual cards.
• Enjoy Card

New credit card with fractioning of purchases and withdrawals, for better management of dayto-day expenses

• Planning for the future Offer reinforced with 5- and 8-year Guaranteed Income products and new structured products
• POS terminals: Dynamic Currency Conversion Service

Choice of payment currency, at the exchange rate at the time of purchase

▪ Valor Negócio + Account

RENEWED BET ON THE YOUTH SEGMENT

AGE Junior and AGE Jovem Accounts, for young people up to 25 years old, with no maintenance fees and offering a wide range of cost-free transactions.

Dedicated digital platform in BPI App and bpiage.pt new website "ECO" Cards made of recycled PVC and printed with eco-friendly inks.

BPI, A BANK FOR COMPANIES

The partner for Companies at the critical stages of their lives

NEW PRODUCTS IN 9M 2022

BPI ESG Line for Companies: 500 M.€

supporting companies' ESG transition, with the possibility of 70% coverage through EIF/EGF guarantee

Treasury Line - Agricultural Sector 2022: 50 M.€

supporting the sectors that produce, process and distribute agricultural products.

› BPI/EIF EGF line of support to SMEs: 800 M.€

150 M.€ increase in allocation in 1Q22, to 950 M.€, with EIF capped guarantee. BPI has used up the 150 M€ capped-guarantee tranche

› Support line to Production: 400 M.€

support to the manufacturing, transport and storage industries.

› 2021 Support Line to Tourism: 150 M.€

20 M.€ increase in allocation (of former Capitalizar Turismo Line)

› 2021 Credit Line to Support the Fisheries Sector: 50 M.€ 10 M.€ increase in allocation

ONLY THE WORLD CAN CHANGE THE WORLD

A range of sustainable solutions for Individual Customers

▪ BPI Impacto Clima Investment Funds

New Class of Sustainable Funds. 1st Portuguese funds targeting sustainable investments (art. 9)

BPI talks - BPI Climate Impact

6 sessions dedicated to sustainability and the BPI Impacto Clima range of funds, exclusive for BPI Customers, held in 6 cities (until Nov.), in partnership with BPI Gestão de Ativos.

5 events held in: Lisbon, Porto, Faro, Braga and Viseu

~400 participants

▪ Mortgage Loans – Energy efficiency Advantages on the acquisition of property with A+, A or B energy certification.

• Launch of Solar Panels and Heat Pumps offer, for greater energy efficiency (Prestige Products)
• Renewable Energy Personal Loans solutions and sustainable mobility offer

ONLY THE WORLD CAN CHANGE THE WORLD

A range of sustainable solutions for Businesses SUPPORT LINES

BPI ESG Companies 500 M.€ Supporting companies' ESG transition, with the possibility of 70% coverage through EIF/EGF guarantee. BPI RRP Advance payment of grant and/or supplementary loans to entities with applications to the Recovery and Resilience Plan (RRP). BPI EIB/ Energy Efficiency 50 M.€ Financing of renewable energy and energy efficiency projects, with EIB guarantee. BPI has exclusive distribution rights in Portugal. BPI Decarbonisation and Circular Economy: 100 M.€ Financing of SMEs' energy efficiency and circular economy projects. Qualificação da Oferta – Turismo de Portugal: 300 M.€ Supporting projects for the rehabilitation, expansion and creation of undertakings with an impact on the environmental performance of Tourism Units. Entrepreneurship and Own Job Creation Promoting self-employment and business creation, with the support of the IEFP, BPI and the Mutual Guarantee Societies. FIS Crédito – BPI 50 M.€ Supporting Innovation and Social Entrepreneurship Initiatives, through the Fund for Social Innovation. BPI Primeiro Direito Financing of housing projects for people living in degrading conditions and unable to afford the cost of access to housing.

SUSTAINABILITY ACCELERATOR

BPI-Expresso project, to support companies' transition towards more sustainable businesses

6 ACCELERATION SESSIONS ON SUSTAINABILITY ISSUES, HELD IN 6 CITIES

These include dynamic workshops for sharing experiences and knowledge, technically supported by sustainability experts

4 events held in Porto, Aveiro, Funchal and Évora

>200 Participants

MONTHLY DELIVERY OF EXCLUSIVE CONTENTS TO CLIENTS

DEDICATED PAGE ON THE PUBLIC WEBSITE

BPI SUPPORTS INNOVATION AND ENTREPRENEURSHIP

3rd quarter 2022

Encouraging and rewarding innovation initiatives that contribute to the transformation of companies in Portugal

An initiative of BPI, Negócios and Claranet, in partnership with Nova SBE

Applications in 2023

Recognising the professional path, leadership and social responsibility of Portuguese women

1st edition 5th edition 2nd edition

Winner: Isabel Azevedo CEO of Fricon

BPI jointly promotes this initiative

654 prize-winning companies

830 applications,

Distinguishing companies that stand out for their performance in innovation, financial strength and sustainability

COTEC INNOVATOR STATUS

DIGITAL BANKING INCREASINGLY RELEVANT AT BPI

More Clients, more sales with digital contribution, and prominent position

BPI TAKES ITS FIRST STEP INTO THE METAVERSE WITH BPI VR

BPI launches the first virtual reality branch in Portugal

BPI launched its 1st immersive branch - BPI VR (25 Oct.)

accessible through virtual reality glasses, which replicates the experience of visiting a branch.

BPI VR is an immersive space with two floors:

• A 1st floor dedicated to sustainability and to individuals, premier and corporate banking offers.
• A 2nd floor dedicated to prestige products and the AGE segment.

This is a first step in immersive reality, for now only featuring the presentation of contents, but which may evolve in the future into an actual banking transactional channel.

BPI VR will be showcased at the Oculus Quest Store and in some BPI branches, where virtual reality equipment will be available for our Customers to try out this new product.

This is the result of a partnership with Unity, one of the world's largest suppliers of virtual reality applications.

A BANK COMMITTED TO SUSTAINABILITY

2022-2024 SUSTAINABILITY MASTER PLAN

LEADING IN SOCIAL IMPACT AND PROMOTING SOCIAL INCLUSION TO SUPPORT THE SUSTAINABLE TRANSITION OF COMPANIES AND SOCIETY LEADING IN GOVERNANCE BEST PRACTICES ▪ Sustainable transition of Corporate and Individual Clients ▪ Decarbonisation ▪ Integration of ESG risks ▪ People-oriented culture ▪ Reinforced monitoring of ESG risks and impacts ▪ Transparency and reporting ▪ A reference in regulatory standards ▪ Joint action with the "la Caixa" Foundation ▪ BPI Voluntary Service ▪ Inclusive Finance SOCIAL 4 Bi.€ ▪ in Loans 2 Bi.€ ▪ in Assets under Management GLOBAL ▪ Sustainable business turnover up to 2024 2 Bi.€ ▪ People supported under the social commitment 200 th. OBJECTIVE 2022/24 2022/24

PRIORITY SUSTAINABLE DEVELOPMENT GOALS

Reduced Inequalities No poverty Gender

Decent Work and Economic Growth

Partnerships for the Goals Peace, Justice and Strong Institutions

ESG 2022-2024 COMMITMENTS

	OBJECTIVE
GLOBAL	2022/24
▪ Sustainable business turnover up to 2024	4 Bi.€
▪ in Loans ▪ in Assets under Management	2 Bi.€ 2 Bi.€
SOCIAL	2022/24
▪ People supported under the social commitment	200 th.
Investment by ▪ BPI "la Caixa" Foundation	120 M.€
GOVERNANCE	2024
Women in management ▪ positions	43%
Percentage of women in management positions in branches with more

than 10 Employees and in all central service functions.

COMMITMENT TO PEOPLE, SOCIETY AND THE ENVIRONMENT

9 510 direct beneficiaries

Commitment to People Commitment to Society Commitment to the Environment

MoveON Programme

Teleworking model: up to six days in the Central Services and up to four days in the Commercial Network, per month.

Trainees Academy 1st edition

29 selected trainees will work in two Divisions during one year (more than 1,000 applications).

The Bank celebrates its 25th anniversary

Tribute to 500 Employees who have completed 25 years of dedication to BPI.

Summer internships

For Employees' children: 19 participants.

BPI Voluntary Service Programme 803 volunteers 76 initiatives Let's go to the beach Action

COMMITMENT TO PEOPLE, SOCIETY AND THE ENVIRONMENT

Commitment to People Commitment to Society

Commitment to the Environment

"la Caixa" Foundation initiative with the collaboration of BPI

• Social Programmes
• Health Research and Innovation
• Culture
• Education and Scholarships

Initiative for Social Equity, renewal of partnership with Nova SBE

• 2.2 million euros
• Reinforcement of 'Portugal, Social Reckoning' project and 'Social Leapfrog' and 'Social Leadership for Managers' programmes, now extended to the Católica Porto Business School

Promove Programme in collaboration with the Foundation for Science and Technology

• 3.6 million euros
• Support to 20 research and innovation projects and 9 innovative ideas for sustainable development in inland regions

COMMITMENT TO PEOPLE, SOCIETY AND THE ENVIRONMENT

Commitment to People Commitment to Society

Commitment to the Environment

BPI stands by the Companies that play a central role in economic growth and environmental sustainability

RECOGNITION

BPI is 'Best Private Bank in Portugal 2022' for PWM and The Banker magazines

BPI received, for the 4th time, in London, the "Best Private Bank in Portugal" award, awarded by PWM and The Banker magazines at the Global Private Banking Awards 2022.

BPI is 'Best Bank in Portugal 2022' for Euromoney

BPI received in London the award for "Best Bank in Portugal 2022", attributed by the Euromoney magazine in the Euromoney Awards for Excellence 2022. This is the second time in the last five years that the Bank has received this award, which every year spotlights the leaders in banking services worldwide.

CONSOLIDATED RESULTS

Unaudited accounts

ANNEXES

01 BPI Ratings versus peers

Income Statements and Balance sheet in accordance with IAS / IFRS and consolidated indicators

03

02

Reconciliation between BPI reported figures and BPI Segment contribution to CaixaBank Group

04

Alternative Performance Measures

BPI RATINGS VS. PEERS On 31st October 2022

	(Long Term Debt/ Issuer Credit Rating)			(Long Term Debt/ Issuer rating)			(Issuer Default Rating)		(Long-Term Debt/ Issuer Rating)
t n e e m d st a r e G v n I	…AA+ e AAA		…Aa1, e Aaa		…AA, AA+ e	AAA		…AA, AA (high), AAA
	AA		Aa2	Mortgage bonds	AA			AA
	AA-		Aa3		AA			AA (low)	Mortgage bonds
	A+	A1			A+			A (high)
	A	A2			A			A	Bank 1
	A	A3		Deposits	A			A (low)
	Bank 1 BBB+		Baa1		BBB+	Bank 1	Deposits Senior debt	BBB (high)
	BBB		Baa2	Bank1 Bank3	BBB			BBB	Bank 3
	BBB		Baa3	Bank 2	BBB	Bank 3		BBB (low)	Bank 2
t	Bank 2 BB+		Ba1		BB+			BB (high)
	BB		Ba2		BB	Bank 2		BB
n e m	BB		Ba3		BB			BB (low)
st e d	B+	B1			B+			B (high)	Bank 5
e a v r n g	B	B2	Bank 4		B			B	Bank 4
I - n	B	B3		Bank 5	B	Bank 4		B (low)
o N	CCC+		Caa1		CCC+			CCC (high)
	CCC		Caa2		CCC			CCC
S&P (16th Sep.22) upgraded in 1 notch the rating of BPI and its long term senior debt to BBB+, with Stable outlook.				Moody's (21st Sep.21) upgraded the rating on BPI long term deposits to A3 and maintained the rating on BPI and its LT senior debt at Baa2. The outlook on ratings is Stable.			Fitch		(8th Jul.22) upgraded the standalone rating to bbb- (investment grade) and reaffirmed the ratings of BPI (BBB), with Stable outlook, and its senior debt and deposits (BBB+).

INCOME STATEMENT OF THE ACTIVITY IN PORTUGAL

In M €	Sep 21	Sep 22	%
Net interest income	340 1	373 5	10%
Dividend income	1 7	4 0	128%
accounted Equity income	16 0	17 7	11%
fee Net and commission income	204 3	219 1	7%
Gains/(losses) financial and liabilities and other assets on	12 6	27 9	122%
Other and operating income expenses	-30 6	-43 1	-41%
Gross income	544 2	599 1	10%
Staff expenses	-173 0	-172 0	-1%
Other administrative expenses	-108 1	-112 9	4%
Depreciation and amortisation	-45 1	-49 9	11%
Recurring operating expenses	-326 2	-334 8	3%
Non-recurrent costs	-13 9	-5 7	-59%
Operating expenses	-340 1	-340 5	0%
operating income Net	204 1	258 6	27%
losses and other Impairment provisions	-32 1	-35 5	11%
Gains and losses in other assets	0 5	0 4	-28%
income before income Net tax	172 5	223 5	30%
Income tax	-45 5	-64 3	41%
income Net	127 0	159 2	25%

BALANCE SHEET OF THE ACTIVITY IN PORTUGAL

1) Includes medium and long-term sovereign debt of 5.4 Bi.€ (Portugal 45%; Spain 24%, Italy 13%, European Union 9% and USA 10%), with an average residual maturity of 3.6 years.

LOAN PORTFOLIO AND CUSTOMER RESOURCES

under II Assets

In M €	Sep 21	Sep 22	YoY	YtD
Customer deposits I	28 038	30 360	8%	5%
under II Assets management	10 366	9 531	-8%	-12%
Mutual funds	6 030	367 5	-11%	-14%
Capitalisation insurance	336 4	4 165	-4%	-9%
Public offerings III	860	270	-	-
Total	39 263	40 162	2%	0%

CONSOLIDATED INCOME STATEMENT

€ In M	Sep 21	Sep 22
Net interest income	342 4	382 7
Dividend income	99 7	91 3
accounted Equity income	31 9	43 7
fee and Net commission income	204 3	219 1
Gains/(losses) financial and liabilities and other assets on	24 5	50 6
Other and operating income expenses	-38 4	-50 1
income Gross	664 4	737 3
Staff expenses	-187 0	-177 7
Of staff which: Recurrent expenses Non-recurrent costs	-173 0 -13 9	-172 0 -5 7
Other administrative expenses	-108 1	-112 9
and Depreciation amortisation	-45 1	-49 9
Operating expenses	-340 1	-340 5
operating income Net	324 3	396 7
losses and other Impairment provisions	-32 1	-35 5
Gains and losses in other assets	0 5	0 4
income before income Net tax	292 7	361 6
Income tax	-50 8	2 -75
income Net	242 0	286 4

CONSOLIDATED BALANCE SHEET

In M.€	Dec 21	Sep 22
ASSETS
Cash and cash balances central banks and other demand deposits at	6 246	5 916
Financial held for trading fair value through profit or loss and fair assets , at at value through other comprehensive income	1 884	1 966
Financial amortised assets at cost Of which: Loans Customers to and Investments in joint ventures associates	32 138 27 008 274	34 329 28 445 268
Tangible assets Intangible assets	209 98	189 101
Tax assets Non-current and disposal groups classified as held for sale assets Other assets	201 5 323	170 39 599
Total assets	41 378	43 577
LIABILITIES Financial liabilities held for trading Financial liabilities amortised at cost - Central Banks and Credit Deposits Institutions Deposits - Customers Debt securities issued Of which: subordinated liabilities Other financial liabilities Provisions liabilities Tax Other liabilities	104 37 201 826 5 28 872 2 206 304 296 53 20 334	119 38 965 988 5 30 360 2 329 426 288 45 49 354
Total Liabilities	37 711	39 532
Shareholders' equity attributable the shareholders of to BPI Non controlling interests	3 668 0	045 4 0
Total Shareholders' equity	3 668	4 045
Total liabilities and Shareholders' equity	41 378	43 577

CONSOLIDATED INDICATORS

Profitability Efficiency and Liquidity Indicators , (Bank of Portugal Instruction no. 16/2004 with the amendments of Instruction 6/2018)	Sep 21	Sep 22
Gross income / ATA	2 3%	2 3%
before and attributable non-controlling / Net income income tax income to interests ATA	0% 1	1% 1
income before income and income attributable non-controlling interests / Net tax to shareholders' (including non-controlling interests) equity average	2% 11	12 6%
income 1) Staff / Gross expenses	26 0%	23 3%
income 1) / Operating Gross expenses	49 1%	45 4%
(net) deposits Loans ratio to	95%	94%
forborne NPE ratio and (according the criteria) to EBA	Sep 21	Sep 22
Non-performing (M €) - NPE exposures	594	576
NPE ratio	1 5%	1 4%
by NPE impairments coverage	90%	90%
by and collaterals NPE impairments coverage	153%	153%
NPE 2) of forborne included Ratio not in	0 5%	0 3%
"Crédito (non-performing duvidoso" loans) (according Bank of Spain criteria) to	Sep 21	Sep 22
€) 3) "Crédito duvidoso" (M	635	621
"Crédito duvidoso" ratio	2 2%	2 0%
"Crédito duvidoso" by impairments coverage	85%	84%
"Crédito duvidoso" by impairments and collaterals coverage	143%	142%

37

2) Forborne according to EBA criteria. On September 2022, the forborne was 362 M.€ (forborne ratio of 0.8%), of which 144 M.€ was performing loans (0.3% of the gross credit exposure) and 219 M.€ was included in NPE (0.5% of the gross credit exposure).

3) Includes guarantees provided (recorded off-balance sheet).

¹⁾ Excluding early-retirement costs.

RECONCILIATION BETWEEN BPI REPORTED FIGURES AND BPI SEGMENT CONTRIBUTION TO CAIXABANK GROUP

Profit & loss account
Sep 22 (M.€)	As reported by BPI	Adjustments 1 )	BPI contribution to CABK Group	BPI	Business segment Corporate Center
Net interest income	383	( 4)	379	372	7
Dividends	91	0	91	4	87
Equity accounted income	44	( 0)	44	18	26
Net fees and commissions	219	0	219	219	0
Trading income	51	1	52	29	23
Other operating income & expenses	( 50)	2	( 48)	( 41)	( 7)
Gross income	737	( 0)	737	600	136
Recurrent operating expenses	( 335)	( 6)	( 341)	( 341)	( 0)
Extraordinary operating expenses	( 6)	6
Pre-impairment income	397	( 2)	395	259	135
[Pre-impairment income without extraordinary expenses]	402	( 7)	395	259	135
Impairment losses on financial assets	( 32)	54	22	22	0
Other impairments and provisions	( 3)	( 3)	( 6)	( 6)	( 0)
Gains/losses on disposals & others		0	0		0
Pre-tax income	362	50	412	275	136
Income tax	( 75)	( 13)	( 88)	( 77)	( 11)
Profit for the period	286	38	324	198	126
Minority interests & other
Net income	286	38	324	198	126

Loan portfolio & customer resources

September 2022 (M.€)	As reported by BPI	Adjustments	BPI contribution to CABK Group (BPI segment)
Loans and advances to customers, net	28 445	( 63)	28 382
Total customer funds	40 162	(4 233)	35 929

Profit & loss account

The difference between the earnings released by BPI and the earnings attributable to CaixaBank Group is largely a result of consolidation adjustments and the net change in the fair value adjustments generated from the business combination.

Additionally, BPI contribution to CaixaBank Group results is broken down into BPI segment and Corporate Center segment, the latter including the contributions from BFA and BCI.

Loan portfolio & customer funds

The difference between BPI reported figures and those reported by CaixaBank for the BPI segment can largely be explained by:

• In loans and advances to customers, net, by the fair value adjustments generated by the business combination at 30th Sep. 2022 and consolidation adjustments (elimination of intra-group balances);
• In total customer funds, by the liabilities under insurance contracts and their fair value adjustments at 30th Sep. 2022, as generated by the business combination, which have been reported in the banking and insurance business segment of CaixaBank following the sale of BPI Vida to VidaCaixa de Seguros y Reaseguros.

1) Consolidation, standardisation and net fair value adjustments in the business combination.

Reconciliation of the profit & loss account structure

• The European Securities and Markets Authority (ESMA) published on 5th October 2015 a set of guidelines relating to the disclosure of Alternative Performance Measures by entities (ESMA/2015/1415). These guidelines are mandatory to issuers with effect from 3rd July 2016.
• In addition to the financial information prepared in accordance with the International Financial Reporting Standards (IFRS), BPI uses a set of indicators for the analysis of performance and financial position, which are classified as Alternative Performance Measures, in accordance with the abovementioned ESMA guidelines. The information relating to those indicators has already been object of disclosure, as required by ESMA guidelines.
• In the current presentation, the information previously disclosed is included by way of cross-reference and a summarized list of the Alternative Performance Measures is presented next.

The following table shows, for the consolidated profit & loss account, the reconciliation of the structure used in this document (Results' Presentation) with the structure adopted in the financial statements and respective notes of the Report and Accounts.

Adopted acronyms and designations			Units, conventional sings and abbreviations
YtD		Year-to-date change	€, Euros, EUR		euros
YoY		Year-on-year change	th.€, th.euros		thousand euros
QoQ		quarter-on-quarter change	M.€, M.euros		million euros
ECB		European Central Bank	Bn.€, Bi.€		billion euros
BoP		Bank of Portugal			change
CMVM		Securities Market Commission	n.a.		not available
APM		Alternative Performance Measures	0, –		null or irrelevant
MMI		Interbank Money Market	vs.		versus
T1		Tier 1	b.p.		basis points
CET1		Common Equity Tier 1	p.p.		percentage points
RWA		Risk weighted assets	E		Estimate
TLTRO		Targeted longer-term refinancing operations	F		Forecast
LCR		Liquidity coverage ratio
NSFR		Net stable funding ratio

Reconciliation of the consolidated profit & loss account structure

Structure used in the Results' Presentation	Sep 22	Sep 22	Structure presented in the financial statements and respective notes
Net interest income	382.7	382.7	Net interest income
Dividend income	91.3	91.3	Dividend income
Equity accounted income	43.7	43.7	Share of the profit or (-) loss of investments in subsidiaries, joint ventures and associates accounted for using the equity method
Net fee and commission income	219.1	239.7	Fee and commission income
		-20.7	Fee and commission expenses
Gains/(losses) on financial assets and liabilities and other	50.6	0.6	Gains or (-) losses on derecognition of financial assets and liabilities not measured at fair value through profit or loss, net
		11.5	Gains or (-) losses on financial assets and liabilities held for trading, net
		-0.5	Gains or (-) losses on non-trading financial assets mandatorily at fair value through profit or loss, net
		4.3	Gains or (-) losses from hedge accounting, net
		34.8	Exchange differences [gain or (-) loss], net
Other operating income and expenses	-50.1	23.1	Other operating income
		-73.2	Other operating expenses
Gross income	737.3	737.3	GROSS INCOME
Staff expenses	-177.7	-177.7	Staff expenses
Other administrative expenses	-112.9	-112.9	Other administrative expenses
Depreciation and amortisation	-49.9	-49.9	Depreciation
Operating expenses	-340.5	-340.5	Administrative expenses and depreciation
Net operating income	396.7	396.7
Impairment losses and other provisions	-35.5	-3.4	Provisions or (-) reversal of provisions
		-32.1	Impairment or (-) reversal of impairment on financial assets not measured at fair value through profit or loss
Gains and losses in other assets	0.4		Impairment or (-) reversal of impairment of investments in subsidiaries, joint ventures and associates
		-0.9	Impairment or (-) reversal of impairment on non-financial assets
		0.0	Gains or (-) losses on derecognition of non financial assets, net
		1.2	Profit or (-) loss from non-current assets and disposal groups classified as held for sale not qualifying as discontinued operations
Net income before income tax	361.6	361.6	PROFIT OR (-) LOSS BEFORE TAX FROM CONTINUING OPERATIONS
Income tax	-75.2	-75.2	Tax expense or income related to profit or loss from continuing operations
Net income from continuing operations	286.4	286.4	PROFIT OR (-) LOSS AFTER TAX FROM CONTINUING OPERATIONS
Net income from discontinued operations			Profit or (-) loss after tax from discontinued operations
Income attributable to non-controlling interests			Profit or (-) loss for the period attributable to non-controlling interests
Net income	286.4	286.4	PROFIT OR (-) LOSS FOR THE PERIOD ATTRIBUTABLE TO OWNERS OF THE PARENT

EARNINGS, EFFICIENCY AND PROFITABILITY INDICATORS The following earnings, efficiency and profitability indicators are defined by reference to the above structure of the profit and loss account used in this document.
Gross income	Net interest income + Dividend income + Net fee and commission income + Equity accounted income + Gains/(losses) on financial assets and liabilities and other + Other operating income and expenses
Commercial banking gross income	Net interest income + Dividend income + Net fee and commission income + Equity accounted income excluding the contribution of stakes in African banks
Operating expenses	Staff expenses + Other administrative expenses + Depreciation and amortisation
Net operating income	Gross income – Operating expenses
Net income before income tax	Net operating income – Impairment losses and other provisions + Gains and losses in other assets
Cost-to-income ratio (efficiency 1) ratio)	Operating expenses / Gross income
Cost-to-core income ratio (core efficiency ratio)1)	[Operating expenses, excluding costs with early-retirements and voluntary terminations and (only in 2016) gains with the revision of the Collective Labour Agreement (ACT) – Income from services rendered to CaixaBank Group (recorded under Other operating income and expenses)] / Commercial banking gross income
Return on Equity (ROE)1)	Net income for the period, less the interest cost of AT1 capital instruments recorded directly in shareholders' equity / Average value in the period of shareholders' equity attributable to BPI shareholders, excluding AT1 capital instruments
Return on Tangible Equity (ROTE)	1) Net income for the period, less the interest cost of AT1 capital instruments recorded directly in shareholders' equity / Average value in the period of shareholders' equity attributable to BPI shareholders (excl. AT1 capital instruments) after deduction of intangible net assets and goodwill of equity holdings
Return on Assets (ROA)1)	(Net income attributable to BPI shareholders + Income attributable to non-controlling interests - preference shares dividends paid) / Average value in the period of net total assets
Unitary intermediation margin	Loan portfolio average interest rate, excluding loans to employees – Deposits average interest rate
BALANCE SHEET AND FUNDING INDICATORS
On-balance sheet Customer resources2)	Deposits + Capitalisation insurance of fully consolidated subsidiaries + Participating units in consolidated mutual funds ▪ Deposits = Demand deposits and other + Term and savings deposits + Interest payable + Retail bonds (Fixed rate bonds placed with Customers) ▪ Capitalisation insurance of fully consolidated subsidiaries (BPI Vida e Pensões sold on Dec.17)
Assets under management3)	Mutual funds + Capitalisation insurance + Pension plans ▪ Mutual funds = Unit trust funds + Real estate investment funds + Retirement-savings and equity-savings plans (PPR and PPA) + Hedge funds + Assets from the funds under BPI Suisse management + Third-party unit trust funds placed with Customers. ▪ Capitalisation insurance4) = Third-party capitalisation insurance placed with Customers ▪ Pension plans4) = Pension plans under BPI management (includes BPI pension plans)
Subscriptions in public offerings	Customers subscriptions in third parties' public offerings

(1) Ratio referring to the last 12 months, except when indicated otherwise. The ratio can be computed for the cumulative period since the beginning of the year, in annualised terms.

(2) The amount of on-balance sheet Customer resources is not deducted from the applications of off-balance sheets products (mutual funds and pension plans) in on-balance sheet products. (3) Amounts deducted from participating units in the Group banks' portfolios and from off-balance sheet products investments (mutual funds and pension plans) in other off-balance sheet products.

(4) Following the sale of BPI Vida e Pensões in Dec.17, the capitalisation insurance placed with BPI's Customers are recorded off balance sheet, as "third-party capitalisation insurance placed with customers" and pension funds management is excluded from BPI's consolidation perimeter.

BALANCE SHEET AND FUNDING INDICATORS (continuation)
Total Customer resources	On-balance sheet Customer resources + Assets under management + Subscriptions in public offerings
Gross loans to customers	Gross loans and advances to Customers (financial assets at amortised cost), excluding other assets (guarantee accounts and others) and reverse repos + Gross debt securities issued by Customers (financial assets at amortised cost) Note: gross loans = performing loans + loans in arrears + receivable interests
Net loans to Customers	Gross loans to Customers – Impairments for loans to Customers
Loan-to-deposit ratio (CaixaBank criteria)	(Net loans to Customers - Funding obtained from the EIB, which is used to provide credit) / Deposits and retail bonds
ASSET QUALITY INDICATORS
Impairments and provisions for loans and guarantees (income statement)	Impairment or reversal of impairment on financial assets not measured at fair value through profit or loss relative to loans and advances to Customers and to debt securities issued by Customers (financial assets at amortised cost), before deduction of recoveries of loans previously written off from assets, interest and others + Provisions or reversal of provisions for commitments and guarantees
Cost of credit risk	Impairments and provisions for loans and guarantees - Recoveries of loans previously written off from assets, interest and other
	Cost of credit risk as % of loan portfolio1) (Impairments and provisions for loans and guarantees - Recoveries of loans previously written off from assets, interest and other) / Average value in the period of the gross loans and guarantees portfolio.
Performing loans portfolio	Gross Customer loans - (Overdue loans and interest + Receivable interests and other)
NPE and NPL ratios	Ratio of non-performing exposures (NPE) and ratio of non-performing loans (NPL) in accordance with the EBA criteria (prudential perimeter)
Coverage of NPE or NPL	[Impairments for loans and advances to Customers (financial assets at amortised cost) + Impairments for debt securities issued by Customers (financial assets at amortised cost) + Impairments and provisions for guarantees and commitments] / [Non-performing exposures (NPE) or Non-performing loans (NPL)]
Coverage of NPE or NPL by impairments and associated collaterals	[Impairments for loans and advances to Customers (financial assets at amortised cost) + Impairments for debt securities issued by Customers (financial assets at amortised cost) + Impairments and provisions for guarantees and commitments + Collaterals associated to NPE or NPL] / [Non-performing exposures (NPE) or Non-performing loans (NPL)]
Non-performing loans ratio ("credito dudoso", Bank of Spain criteria)	Non performing loans ("credito dudoso", Bank of Spain criteria) / (Gross Customer loans + guarantees)
Non-performing loans coverage ratio	[Impairments for loans and advances to Customers (financial assets at amortised cost) + Impairments for debt securities issued by Customers (financial assets at amortised cost) + Impairments and provisions for guarantees and commitments] / Non performing loans ("credito dudoso", Bank of Spain criteria)
Coverage of non-performing loans by impairments and associated collaterals	[Impairments for loans and advances to Customers (financial assets at amortised cost) + Impairments for debt securities issued by Customers (financial assets at amortised cost) + Impairments and provisions for guarantees and commitments + Collateral associated to credit] / Non performing loans ("credito dudoso", Bank of Spain criteria)
Impairments cover of foreclosed properties	Impairments for real estate received in settlement of defaulting loans / Gross value of real estate received in settlement of defaulting loans

42

BANCO BPI, S.A. Registered office: Avenida da Boavista 1117, Porto, Portugal Share capital: € 1 293 063 324.98 Registered at Commercial Registry of Porto under registration number PTIRNMJ 501 214 534 and tax identification number 501 214 534