Banco Comercial Portugues

Capital/Financing Update • Jul 13, 2021

BANCO BPI, S.A.

Registered office: Rua Tenente Valadim, 284, 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 and its long-term senior unsecured debt ratings to Baa2

Banco BPI, S.A. informs that the international rating agency Moody's, following the revision of its "Advanced Loss Given Failure (LGF)" analysis within the scope of the recent update of the rating methodology, has upgraded Banco BPI and its long-term senior unsecured debt ratings from Baa3 to Baa2. The Outlook of Banco BPI's rating is Stable.

Moody's also upgraded the non-preferred senior debt rating to investment grade, from Ba1 to Baa3, and the short-term debt rating from "Prime-3" to "Prime-2".

The rating agency has affirmed Banco BPI's long-term deposits rating at Baa1 and improved its Outlook, from Stable to Positive, in line with the Outlook on the rating of Portugal.

Banco BPI, S.A.

Porto, 13 July 2021