Banco Comercial Portugues

Earnings Release • Jul 26, 2016

ANNOUNCEMENT Reuters>bcp.Is Exchange>MCP Bloomberg>bcp pl ISIN PTBCP0AM00007

²⁶ July ²⁰¹⁶ Banco Comercial Português informs about Bank Millennium (Poland) results in 1H2016

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 in BCP group level, released today its results for the first half of 2016, whose highlights are as follows:

Consolidated net profit at PLN 431 million (€98.4 million) in 1H2016, a 31.5% increase versus 1H2015. The high results of 2Q2016, of PLN 294 million (€67.1 million) were inflated by VISA Europe transaction. Core income grew by 2.6% yearly driven by an improvement in interest income by 8.1% y/y. In the 1H2016 ROE reached 13% despite record level of equity (PLN 6 723 million (€1,535.4 million), 12% growth yearly).

Main financial and business highlights of 1H2015 results:

Strong profit due to VISA transaction

• 1H net profit of PLN 431 million (€98.4 million)
• 2Q net profit of PLN 294 million (€67.1 million) supported by extraordinary VISA gain
• ROE at 13.1%

Core income growth driven by net interest income

• Core income grew by 6.4% quarterly and 2.6% yearly, driven by improvement in net interest income (+7.3% q/q and 8.1% y/y)
• Net Commission income grew 4% quarterly but still lower by 10% vs 1H 2015

Solid asset quality and low cost of risk

• Impaired loans ratio at low 4.6%; impaired mortgage at 2.2% (of which past-due over 90 days at 1%)
• Cost of risk YTD at 45 bps

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 4,094,235,361.88

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

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ANNOUNCEMENT Reuters>bcp.Is Exchange>MCP Bloomberg>bcp pl ISIN PTBCP0AM00007

Capital ratio compliant with regulatory high limits

• Group TCR at 17.2%, CET1 at 16.9% and Bank TCR at 17.1%, CET1 at 16.8%
• Strong liquidity, with Loans-to-deposits ratio at low 87%

Deposits/accounts/customers

• 500,000 new 360 current accounts sold during two years from launching
• +27,000 net growth in active customers during 2Q, +45,000 year-to-date
• Fast growth of retail deposits: +18.1% y/y +3.6% q/q

Loans

• High cash loans sale kept: PLN 647 million (€147.7 million) in 2Q'16; portfolio 13% up y/y
• Mortgage loans sales keeps growing: +47% y/y (ytd) and 10% q/q
• Strong growth of leasing and factoring portfolios: +16% and +9% y/y

Innovation leadership

• New, modern format of branch with new functionality, oriented on customers' relations
• New on-line and mobile solutions for retail and companies

End of announcement Banco Comercial Português, S.A.