Banco Comercial Portugues

Regulatory Filings • Oct 6, 2021

6 October 2021

Banco Comercial Português, S.A. informs about provisions for FX-denominated mortgage loans booked by Bank Millennium, S.A.

Banco Comercial Português, S.A. informs that Bank Millennium S.A., in which it holds a 50.1% stake, has published the attached current report today.

End of announcement Banco Comercial Português, S.A.

6 th October 2021

Current Report no. 30/2021

SUBJECT: Creation of additional provisions against legal risk related to FX mortgage loans portfolio.

The Management Board of Bank Millennium S.A. ('the Bank') informs that it took a decision to create in its 3 rd quarter 2021 accounts, PLN 451.8 million of provisions for legal risk connected with FX mortgage loans originated by the Bank. Additional PLN74.3 million provisions will also be created against legal risk related to the loan book originated by Euro Bank but without a bottom line impact. The provisions reflect the continuing negative trends in court decisions, inflow of new court cases and resultant changes in the Bank's legal risk assessment methodology.

As a result of this level of provisions, despite solid operating performance, the Bank expects a negative net result in the 3rd quarter of 2021.

More information about the legal risk and 3rd quarter 2021 financial results will be disclosed in a periodical report scheduled for 26th of October 2021.

Legal basis: art. 17 section 1 MAR – confidential information