Banco Comercial Portugues

Regulatory Filings • Apr 1, 2019

ANNOUNCEMENT Reuters>bcp.Is Exchange>BCP Bloomberg>bcp pl ISIN PTBCP0AM0015

April 1, 2019 Banco Comercial Português, S.A. informs about upgrades of deposit ratings to Ba1 and senior debt rating to Ba2 made by Moody's

Banco Comercial Português, S.A. ("BCP") informs that Moody's Investors Services ("Moody's") has improved the following rating ratings assigned to BCP:

• Long-term deposit rating from Ba3 to Ba1;
• Long-term senior debt from Ba3 to Ba2;
• Baseline Credit Assessment (BCA) and Adjusted BCA from b1 to ba3;
• Subordinated debt from B2 to B1;
• AT1 from Caa1 (hyb) to B3 (hyb);
• Ba1 / Not-Prime Counterparty Risk Ratings for Baa3 / Prime-3 (to investment grade).

This action by Moody's reflects BCP's improved credit profile, through a significant reducing the stock of problematic assets and enhanced domestic profitability metrics from weak levels, as well as Moody's expectation that the bank's financial fundamentals will continue to improve gradually in 2019.

End of announcement Banco Comercial Português, S.A.

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BANCO COMERCIAL PORTUGUÊS, S.A., a public company (sociedade aberta) having its registered office at Praça D. João I, 28, Oporto, registered at the Commercial Registry of Oporto, with the single commercial and tax identification number 501 525 882 and the share capital of EUR 4,725,000,000.00 LEI: JU1U6S0DG9YLT7N8ZV32

INVESTOR RELATIONS Rui Coimbra Phone +351 211 131 084 investors@millenniumbcp.pt rui.coimbrafernandes@millenniumbcp.pt lmonteiro@millenniumbcp.pt

MEDIA CONTACT Erik T. Burns Phone +351 211 131 242 Mobile +351 917 265 020 erik.burns@millenniumbcp.pt cintia.barbas@millenniumbcp.pt