Banco Comercial Portugues

Capital/Financing Update • Dec 7, 2020

Banco Comercial Português, S.A. informs about minimum prudential requirements

Banco Comercial Português, S.A. (BCP) hereby informs that, under the context of the Supervisory Review and Evaluation Process (SREP), it has been notified of the decision of the European Central Bank (ECB) regarding minimum prudential requirements to be fulfilled on a consolidated basis from January 1, 2021. In addition, BCP was informed by the Bank of Portugal on its capital buffer requirement as "other systemically important institution" (O-SII). All requirements were kept unchanged at the value of 2020.

The ECB's decision prescribes the following minimum ratios as a percentage of total risk weighted assets (RWA) from January 1, 2021:

	Sep. 30, 2020*	Minimum capital requirements
BCP	Fully	Phased-in	Of which:			Fully	Of which:
Consolidated	implemented	2021	Pillar 1	Pillar 2	Buffers	implemented	Pillar 1	Pillar 2	Buffers
CET1	12.4%	9.81%	4.50%	2.25%	3.06%	10.25%	4.50%	2.25%	3.50%
T1	13.5%	11.31%	6.00%	2.25%	3.06%	11.75%	6.00%	2.25%	3.50%
Total	15.7%	13.31%	8.00%	2.25%	3.06%	13.75%	8.00%	2.25%	3.50%

*Including unaudited earnings for the first nine months of 2020.

Buffers include the conservation buffer (2.5%), the countercyclical buffer (0%) and the buffer for other systemically important institutions (O-SII: 0.563%). BCP was granted an additional year (January 1, 2023) for the gradual fulfillment of the future O-SII reserve requirement of 1.00%, as communicated by Banco de Portugal on its website on May 8, 2020.

Considering its capital ratios as of September 30, 2020, BCP complies comfortably with the minimum capital ratio requirements for CET1 (Common Equity Tier 1), Tier 1 and total ratio.

End of announcement Banco Comercial Português, S.A.