Banco Comercial Portugues

Earnings Release • Apr 25, 2017

April 25, 2017 Banco Comercial Português, S.A. informs about Bank Millennium (Poland) results in 1Q2017

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 1Q2017. Main highlights are as follows:

"Net profit improved and cost efficiency within the target

• Net profit in 1Q2017 at PLN 140.5 million (€32.6 million), +6.9% q/q and 2.4% y/y
• ROE (Return on average equity) at 8.1%
• Cost to Income at 46.7% within 2017 strategic target

Excellent core income improvement

• Core income growth of 15.7% yearly
• Net interest income up by 12.7% yearly
• Net commission growth of 23.6% yearly

Higher regulatory charges

•PLN 44 million (€10.2 million), yearly resolution fund fee booked in full in 1Q on top of PLN 13 million (€3.2 million), guarantee fund quarterly fee (both non taxdeductible)

•One month longer period of bank assets tax compared to 1Q 2016 (+ PLN 15 million cost (€3.4 million))

INVESTOR RELATIONS Rui Coimbra

Phone +351 211 131 084 investors@millenniumbcp.pt

lmonteiro@millenniumbcp.pt

rui.coimbrafernandes@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

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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 5,600,738,053.72

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

•Negative combined impact on P&L of these items was PLN 53 million (€12.3 million) y/y

Stronger capital, comfortable liquidity and asset quality

• Consolidated Total Capital Ratio at 18.0% and Common Equity Tier 1 at 17.9% (*)
• Very strong liquidity: loans-to-deposits ratio at low 83% level(**)
• Impaired loans ratio at low 4.5%; Cost of risk at 51 b.p. (***) "

(*) under CRR/CRD4 rules and partial IRB approach (with regulatory constraint)

(**) deposits include Bank's debt securities sold to individuals and repo transactions with customers

(***) total provisions created (net) to average net loans, per annum

End of announcement Banco Comercial Português, S.A.