Banco Comercial Portugues

Earnings Release • Apr 24, 2018

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

April 24, 2018 Banco Comercial Português, S.A. informs about Bank Millennium (Poland) results in Q1 2018

Banco Comercial Português, S.A. hereby informs that Bank Millennium in Poland, in which it has a 50.1% holding and whose accounts are fully consolidated at BCP group level, released today its results for the first quarter of 2018. Main highlights are as follows:

"Profitability increase

• Q1 2018 net profit reached 155 million PLN (+11% y/y)
• ROE at 9.7% and Cost-to-income at 46.0% (adjusted for the BFG resolution fund fee)

Interest income continues to drive core income growth

• Net interest income grew by 6.2% y/y
• Continued growth of net Commission Income to +1.8% q/q and +3.8% y/y

Solid asset quality (new definition of ratios under IFRS9)

• Impaired loans (stage 3) ratio at 4.9% level with coverage by provisions at 76%
• Cost of Risk at 44 b.p.
• Loans-to-deposits ratio at low level of 81%

Extremely high capital ratios after AGM decision of retaining 2017 profit

• Group's Total Capital Ratio (TCR) at 24.4%, and CET1 (=T1) ratio at 22.3% after adding entire 2017 year profit
• TCR is 6 p.p., and Tier1 ratio 7 p.p. above new minimum thresholds (18.5% for TCR and 15.2% for T1)"

End of announcement

Banco Comercial Português, S.A.

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

cintia.barbas@millenniumbcp.pt

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 5,600,738,053.72, LEI: JU1U6S0DG9YLT7N8ZV32

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