Banco Comercial Portugues

Investor Presentation • Jul 31, 2025

BANCO BPI RESULTS

31 JULY 2025

2Q25 BANCO BPI RESULTS

DISCLAIMER

• The purpose of this presentation is purely informative and should not be considered as a service or offer of any financial product, service or advice, nor should it be interpreted as, an offer to sell or exchange or acquire, or an invitation for offers to buy securities issued by Banco BPI ("BPI") or any of the companies mentioned herein. The information contained herein is subject to, and must be read in conjunction with, all other publicly available information. Any person at any time acquiring securities must do so only on the basis of such person's own judgment as to the merits or the suitability of the securities for its purpose and only on such information as is contained in such public information set out in the relevant documentation filed by the issuer, having taken all such professional or other advice as it considers necessary or appropriate in the circumstances and not in reliance on the information contained in this presentation.
• BPI cautions that this presentation might contain forward-looking statements concerning the development of its business and economic performance. While these statements are based on BPI's current projections, judgments and future expectations concerning the development of the Bank's business, a number of risks, uncertainties and other important factors could cause actual developments and results to differ materially from BPI's expectations. Such factors include, but are not limited to the market general situation, macroeconomic factors, regulatory, political or government guidelines and trends, movements in domestic and international securities markets, currency exchange rates and interest rates, changes in the financial position, creditworthiness or solvency of BPI customers, debtors or counterparts.
• Statements as to historical performance or financial accretion are not intended to mean that future performance or future earnings for any period will necessarily match or exceed those of any prior year. Nothing in this presentation should be construed as a profit forecast. In addition, it should be noted that although this presentation has been prepared based on accounting registers kept by BPI and by the rest of the Group companies it may contain certain adjustments and reclassifications in order to harmonize the accounting principles and criteria followed by such companies with those followed by BPI.
• In particular, regarding the data provided by third parties, BPI does not guarantee that these contents are exact, accurate, comprehensive or complete, nor it is obliged to keep them updated, nor to correct them in the case that any deficiency, error or omission were to be detected. Moreover, in reproducing these contents by any means, BPI may introduce any changes it deems suitable, may omit partially or completely any of the elements of this document, and in case of any deviation between such a version and this one, BPI assumes no liability for any discrepancy.
• In relation to Alternative Performance Measures (APMs) as defined in the guidelines on Alternative Performance Measures issued by the European Securities and Markets Authority on 5 October 2015 (ESMA/2015/1415), this report uses certain APMs, which have not been audited, for a better understanding of the company's financial performance. These measures are considered additional disclosures and in no case replace the financial information prepared under the International Financial Reporting Standards (IFRS). Moreover, the way the Group defines and calculates these measures may differ to the way similar measures are calculated by other companies. Accordingly, they may not be comparable. Please refer to the Annexes section for a list of the APMs used along with the relevant reconciliation between certain indicators.
• This document has not been submitted to the Comissão do Mercado of Valores Mobiliários (CMVM) (Autoridade Portuguesa do Mercado of Capitais) for review or for approval. Its content is regulated by the Portuguese law applicable at the date hereto, and it is not addressed to any person or any legal entity located in any other jurisdiction. For this reason it may not necessarily comply with the prevailing norms or legal requisites as required in other jurisdictions.
• Notwithstanding any legal requirements, or any limitations imposed by BPI which may be applicable, permission is hereby expressly refused for any type of use or exploitation of the content of this presentation, and for any use of the signs, trademarks and logotypes contained herein. This prohibition extends to any kind of reproduction, distribution, transmission to third parties, public communication or conversion by any other mean, for commercial purposes, without the previous express consent of BPI and/or other respective proprietary title holders. Any failure to observe this restriction may constitute a legal offence which may be sanctioned by the prevailing laws in such cases.

GROWTH, STRENGTH, FUTURE.

• Business growth: loans +7% yoy and total Customer resources +6% yoy
• Credit quality at historical highs: NPE of 1.3%, covered at 147%
• Capital ratios with comfortable headroom: CET1 ratio of 14.0% and total ratio of 17.4%
• Net profit from the activity in Portugal of 241 M.€ in 1H2025, down 10% yoy due to the repricing of loans at lower interest rate indices
• Banco BPI net profit of 274 M.€ in 1H2025 (-16% yoy)
• Strong investment in talent and the Youth segment

BPI RESULTS

1st half 2025

Commercial activity in Portugal	Loans  yoy +2.0 Bn.€ +7%	Deposits yoy  +1.5 Bn.€ +5% Total customer resources +2.6 Bn.€ +6%	 yoy Gross -8% income -10% Net interest income
Risk and capitalisation	NPE ratio 1.3% (EBA criteria) 147% Coverage (by impairments and collaterals)	Cost of 0.16% Credit Risk (as % of loans and guarantees; last 12 months)	14.0% CET1 15.3% T1 17.4% Total
Net profit and profitability	Profit in Portugal yoy  241 M.€ -10% Banco BPI profit 274 M.€ -16%	Cost-to-income in Portugal 38% (last 12 months)	Recurrent ROTE in Portugal 16.6% (last 12 months)

ECONOMY PERFORMANCE

Recovery and Resilience Plan (RRP)

• GDP Employment at historical highs
  • The unemployment rate is projected to be 6.4% in 2025 and 2026

A MORE PREDICTABLE PATH FOR INTEREST RATES

Sources: Eurostat, INE, Bank of Portugal and Bloomberg.

HOUSING: INSUFFICIENT SUPPLY DRIVES PRICES UP

▪ Lower interest rates

NET PROFIT OF 274 M.€ IN 1ST HALF 25

Net profit				▪ Reduction in gross income due to lower net interest
€ In M	Jun 24	Jun 25	Δ%	income ▪ Stable costs
profit in Portugal Net	268	241	-10%	Cost of credit risk remains low ▪
contribution BFA	41	43	+5%
contribution BCI	18	( 10)		M.€ -5 5 +32 (1) 268 -3
profit Net	327	274	-16%	-2 4 +23 241 Gross Recurrent Income income costs tax and Impairments Cost with other early retirements and
BCI contribution in 1H25		June 25		terminations
BCI results (35.7% appropriation) Impairments and other corrections in equity holding		19 - 29 -10		June24 June25
				June24 June25 Recurrent ROTE in Portugal 19.0% 16.6% (last 12 months)

HIGHER VOLUMES FAIL TO MAKE UP FOR LOWER RATES

LOANS INCREASED 7% YOY

11.4% 11.8% 12.1% 12.1% 12.0% 21 22 23 24 May 25 Loans to Customers by segment Market share in total loans Note: market share includes corporate debt securities.

Source: BPI, Bank of Portugal.

MORTGAGE LOANS: GROWTH AND MARKET SHARE GAIN

BET ON THE YOUTH SEGMENT

AGE New Positioning

❑ Consolidating AGE as a hassle-free gateway for young people taking their first steps towards financial autonomy, while taking into account their changing financial and social profile:

New AGE segmentation

and extension to 30 years old, commissions-free

New AGE Brand identity conveys BPI's trustworthiness and the irreverence of young people

New Digital Channels experience

with a new, simpler and more intuitive image

New AGE Campaign

❑ BPI introduces Ágil, the AGE mascot designed to simplify young people's financial lives.

BPI's use of State guarantee to support Youth Housing Credit 467 M.€ 2 .5 th. Amount of credit # contracts (30 June 2025)

LOANS TO SME GREW 8%

SUPPORTING OUR CLIENTS' SUSTAINABLE TRANSITION

SUPPORT TO THE ECONOMY AND INNOVATION

13th edition

• ◼ 10 awards attributed
• ◼ Personality Award: João Coimbra, Manager of Quinta da Cholda
• ◼ Institutional award: EDIA, the managing company of the Alqueva project

7th edition

• ◼ 316 applications
• ◼ Winners to be announced in November

3rd edition

• ◼ 17 awards attributed
• ◼ Personality Award: Ricardo Mendes, CEO of Tekever
• ◼ Innovation Champion Trophy: Walter Duarte, founder of ID8 Innovation Consulting

18th edition

◼ Winning Portuguese startups: FiberSight Coimbra (North and Centre award) and expressTC Faro (South and Islands award)

21st edition

◼ Applications until 12 September

DIALOGUE WITH SOCIETY

BPI Forum" The Future of Water" Feb Meetings with Clients

Experts, former members of Government, Mayors and businesses debate the future of water

➢ 2 editions, more than 600 participants

Women leadership: inspiring careers Mar.

Reflecting on and sharing the challenges and achievements of female leadership

➢ More than 100 participants

2 Webinars on Macroeconomics

Feb May

Events for Clients offering analyses and insights into the global economic context ➢ More than 300 participants

• BPI once again travels across the country to strengthen its closeness with business Clients
• The sessions, with the presence of experts, promote dialogue and knowledge-sharing
• Themes: Cybersecurity and Governance

CUSTOMER RESOURCES INCREASED 6% YOY

Customer Resources
In Bn €	24 Jun	25 Jun	YoY	YtD
deposits Customer	30 4	31 9	5%	5%
Off-balance sheet resources	8 9	10 0	12%	6%
Total	39 3	41 9	6%	5%

Source: BPI, Bank of Portugal, APFIPP, APS, BPI Vida e Pensões.

MORE CLIENTS AND MORE DIGITAL SALES

Subscription to digital channels

More Digital Clients

(30 June 2025)

More Digitallysupported sales

(Jun 24 to Jun 25)

32%

of sales of focus products to individual clients are digitally initiated ¹

93%

Digital individual clients actively using the BPI App (30 June 2025)

BPI Exhibition AI Innovation Garden

BPI App active users ( YoY)

Digital Banking regular users

Lisbon | Porto

+61 th.

1 million

18 th. visitors

~85 schools and universities ~30 companies and partners

INVESTMENT IN YOUNG TALENT

BPI internships

BPI Trainee Programme - Academies

156 Trainees

75% Retention

4th edition in preparation: Commercial Academy 25/26

50 Trainees +2000 Applications

Other Traineeships:229(2022-2025 YTD)

BPI close to the Young as an employer brand

In 1H25:

42 Events

+4800 Participants

The Most Amazing Companies to
Work For by Magma Studio (Mar.25)

#3 In the Banking sector (for STEM and Management students)

#41 Global ranking (1152 Companies)

ACCELERATOR

TEAM DIVERSITY INNOVATION AND DISRUPTION BPI VALUE AS AN EMPLOYER BRAND GENERATIONAL RENEWAL DIGITAL TRANSFORMATION

CONSISTENT DEDICATION TO VOLUNTEERING SERVICE

BPI Volunteering Month May 2025

1 900 Volunteers

16 400 Direct beneficiaries

Since the start of the programme

107 000 Direct beneficiaries

COSTS STABLE

CREDIT GROWS WITH LOWEST RISK EVER

22

COMFORTABLE CAPITAL BUFFER

1) Considering buffer requirement for systemic risk in the residential real estate market in Portugal and the countercyclical buffer, calculated on a monthly basis

RECOGNITION

LARGE CORPORATES PORTUGAL

BEST DIGITAL BANK PORTUGAL

BEST BANK FOR ESG PORTUGAL

▪ BEST PRIVATE BANKING IN PORTUGAL

• BEST FOR DIGITAL SOLUTIONS
• BEST FOR NEXT-GEN
• BEST FOR SUCCESSION PLANNING

PRIVATE BANKING BEST CRM INITIATIVE

12 YEARS STRAIGHT

COMMITMENT TO SOCIAL TRANSFORMATION

"la Caixa" Foundation initiative in collaboration with BPI

BPI certified as 'Family Responsible Company'

BANCO BPI RESULTS

ANNEXES

01 BPI Ratings

versus peers

Income Statements and Balance sheet in accordance with IAS / IFRS and Banco BPI indicators

02

Reconciliation between BPI reported figures and BPI Segment contribution to CaixaBank Group

Alternative Performance Measures

BPI RATINGS VS. PEERS As of 25 July 2025

	(Long Term Debt/ Issuer Credit Rating)	(Long Term Debt/ Issuer rating)	(Issuer Default Rating)	(Long-Term Debt/ Issuer Rating)
	AAA	Aaa Mortgage bonds	AAA	AAA
e	AA+	Aa1	AA+	Mortgage bonds AA (high)
d a r	AA	Aa2	AA	AA
G t	AA	Aa3	AA	AA (low)
n e m	A+	A1 Deposits	A+	A (high)
st	Bank 1 Bank 3 A	A2	Deposits Bank 1 A Senior debt	Bank 1 Bank 3 A
e v n	A	A3	A	A (low)
I	Bank 2 BBB+	Bank1 Bank2 Bank3 Bank5 Baa1	BBB+	Bank 2 BBB (high)
	BBB	Baa2	Bank 2 Bank 5 BBB	BBB
	BBB	Bank 4 Baa3	BBB	Bank 4 BBB (low)
t	BB+	Ba1	Bank 4 BB+	BB (high)
n e	BB	Ba2	BB	BB
m st e	BB	Ba3	BB	BB (low)
d e a v r	B+	B1	B+	B (high)
n g I -	B	B2	B	B
n o N	B	B3	B	B (low)
	CCC+	Caa1	CCC+	CCC (high)

S&P: On 12 Mar.25 reaffirmed BPI rating (A-), with Stable outlook.

Moody's: On 19 Nov.24 upgraded the rating of BPI and its senior debt to A2 (from Baa1) and the rating of its deposits to A1 (from A2). The Outlook of the ratings is Stable. Fitch Ratings: On 28 May 25 reaffirmed BPI rating (A-), with Stable outlook and upgraded its standalone rating ("Viability Rating") by 1 notch, to bbb. DBRS: on 11 Jun.25 upgraded BPI's mortgage covered bond rating to AA (high).

INCOME STATEMENT OF THE ACTIVITY IN PORTUGAL

€ In M	Jun 24	Jun 25	%
interest income Net	490 6	441 3	-10%
Dividend income	8 3	7 1	-14%
accounted Equity income	10 3	9 5	-7%
fee and Net commission income	167 9	149 9	-11%
Gains/(losses) financial and liabilities and other assets on	15 4	10 5	-32%
Other and operating income expenses	-23 9	-4 6	81%
income Gross	668 6	613 7	-8%
Staff expenses	-124 8	-126 4	% 1
Other administrative expenses	-94 1	-93 5	-1%
and Depreciation amortisation	-31 4	-33 4	6 %
Recurring operating expenses	-250 4	-253 2	1%
Non-recurrent costs	-22 9	-0 2	-99%
Operating expenses	-273 2	-253 5	-7%
operating income Net	395 4	360 3	-9%
losses and other Impairment provisions	-4 4	-27 9	-
and losses other Gains in assets	2 0	0 4	-82%
income before income Net tax	393 0	332 7	-15%
Income tax	-125 3	-91 5	-27%
Net income	267 8	241 2	-10%
income Recurrent net	283 5	241 4	-15%

BALANCE SHEET OF THE ACTIVITY IN PORTUGAL

1) Includes medium and long-term sovereign debt of 5.1 Bn.€ (Portugal 30%; Spain 20%, Italy 16%, European Union 16%, France 10% and USA 8%), with an average residual maturity of 2.3 years.

29

LOAN PORTFOLIO AND CUSTOMER RESOURCES

Loan portfolio
portfolio in Gross M € ,	24 Jun	25 Jun	YoY	YtD
individuals Loans to	16 295	638 17	8%	5%
loans Mortgage	688 14	16 193	10%	6%
Other loans individuals to	607 1	1 445	-10%	-6%
companies Loans to	750 11	12 372	5%	3%
Public sector	2 300	2 355	2%	2%
Total loans	30 345	32 366	7%	4%
portfolio of Loan net impairments	29 843	31 890	7%	4%

In M €	24 Jun	25 Jun	YoY	YtD
deposits Customer	408 30	880 31	5%	5%
Off-balance sheet resources	8 936	10 018	12%	6%
Total	39 343	41 897	6%	5%

BANCO BPI INCOME STATEMENT

In M €	24 Jun	25 Jun	%
Net interest income	491 7	441 9	-10%
Dividend income	53 5	56 7	6 %
accounted Equity income	28 7	19 5	-32%
fee and commission income Net	167 9	149 9	-11%
Gains/(losses) financial and liabilities and other assets on	15 1	6 0	-60%
Other operating income and expenses	-27 7	-8 7	69%
Gross income	729 2	665 4	-9%
Staff expenses	-124 8	-126 4	1 %
Other administrative expenses	-94 1	-93 5	-1%
and Depreciation amortisation	-31 4	-33 4	6 %
Recurring operating expenses	-250 4	-253 2	1%
Non-recurrent costs	-22 9	-0 2	-99%
Operating expenses	-273 2	-253 5	-7%
operating income Net	456 0	411 9	-10%
losses and other Impairment provisions	-4 5	-28 0	-
Gains and losses in other assets	2 0	-21 2	-
income before income Net tax	453 5	362 7	-20%
Income tax	-126 7	-88 2	-30%
income Net	326 8	274 5	-16%

BANCO BPI BALANCE SHEET

In M.€	Dec 24	Jun 25
ASSETS
Cash and cash balances at central banks and other demand deposits	3 286	1 850
Financial assets held for trading, at fair value through profit or loss and at fair value through other comprehensive income	1 480	1 835
Financial assets at amortised cost	35 346	37 491
Of which: Loans to Customers	30 571	31 890
Investments in joint ventures and associates	247	214
Tangible assets	192	178
Intangible assets	112	105
Tax assets	270	120
Non-current assets and disposal groups classified as held for sale	14	13
Other assets	124	107
Total assets	41 072	41 913
LIABILITIES
Financial liabilities held for trading	57	65
Financial liabilities at amortised cost	36 146	37 154
Deposits - Central Banks and Credit Institutions	718	792
Deposits - Customers	30 501	31 880
Debt securities issued	4 694	4 231
Of which: subordinated liabilities	434	433
Other financial liabilities	232	251
Provisions	32	28
Tax liabilities	258	115
Other liabilities	567	703
Total Liabilities	37 061	38 065
Shareholders' equity attributable to the shareholders of BPI	4 011	3 848
Non controlling interests	0	0
Total Shareholders' equity	4 011	3 848
Total liabilities and Shareholders' equity	41 072	41 913

COVERAGE OF PENSION LIABILITIES

Employee pension liabilities

M €	24 Dec	25 Jun
Total service liability past	1 763	1 669
funds Pension net assets	1 758	1 684
Level of of pension liabilities coverage	100%	101%
fund (YtD annualised) Pension return , non	3 4%	7% -1
Discount rate	3 4%	3 8%

BANCO BPI INDICATORS

Profitability, Efficiency and Liquidity Indicators (Bank of Portugal no. 16/2004 with the amendments of 6/2018) Instruction Instruction	Jun 24	Jun 25
/ Gross income ATA	3.7%	3.2%
Net income before income and income attributable non-controlling interests / ATA tax to	2.3%	1.7%
before and attributable non-controlling / average shareholders' Net income income tax income to interests (including non-controlling interests) equity	23.7%	18.8%
income 1 ) Staff expenses / Gross	17.1%	19.0%
income 1 ) expenses / Operating Gross	34.3%	38.1%
(net) deposits Loans to ratio	99%	100%
Funding and liquidity indicators	24 Jun	25 Jun
Deposits 2 ) Loans /	95%	97%
stable funding (NSFR) Net ratio	143%	141%
Liquidity coverage ratio (LCR)	224%	189%
average 3 ) Liquidity (LCR) month coverage ratio - 12	189%	210%
NPE ratio and forborne (according the EBA criteria) to	Jun 24	Jun 25
Non-performing (M .€) exposures - NPE	539	531
NPE ratio	1.4%	1.3%
coverage by NPE impairments	95%	93%
NPE coverage by impairments and collaterals	152%	147%
NPE 4) Ratio of forborne included in not	1.2%	0.7%
"Crédito duvidoso" (non-performing loans) (according Bank of Spain criteria) to	24 Jun	25 Jun
.€) 5) "Crédito duvidoso" (M	528	555
"Crédito duvidoso" ratio	1.6%	1.6%
"Crédito duvidoso" coverage by impairments	97%	89%
"Crédito duvidoso" coverage by and collaterals impairments	151%	142%

1) Excluding early-retirement costs.

34

2) According to definition in Alternative Performance Measures.

3) 12 month average, in accordance with EBA guidelines. Average value (12 months) of calculation components on Jun.25: Liquidity reserves (7 762 M.€); Total net outflows (3 688 M.€).

4) On June 2025, the forborne was 562 M.€ (forborne ratio of 1.2%), of which 339 M.€ was performing loans (0.7% of the gross credit exposure) and 223 M.€ was included in NPE (0.5% of the gross credit exposure). 5) Includes guarantees provided (recorded off-balance sheet)

RECONCILIATION BETWEEN BPI REPORTED FIGURES AND BPI SEGMENT CONTRIBUTION TO CAIXABANK GROUP

Profit & loss account

		BPI	Business segment
Jun 25 (M .€)	reported As by BPI	contribution to CABK Group	BPI	Corporate Center
Net interest income	442	439	430	9
Dividends	57	57	7	50
Equity accounted income	20	20	10	10
Net fees and commissions	150	150	150
Trading income	6	9	14	( 5)
Other operating income & expenses	( 9)	( 7)	( 3)	( 4)
income Gross	665	668	607	60
Operating expenses	( 253)	( 255)	( 255)
Extraordinary operating expenses	( 0)
Pre-impairment income	412	413	353	60
losses on financial Impairment assets	( 28)	( 28)	( 28)
Other and impairments provisions	( 0)	( 0)	( 0)
Gains/losses on disposals & others	( 21)	( 21)	0	( 22)
Pre-tax income	363	364	325	39
Income tax	( 88)	( 89)	( 90)	1
Net income	274	275	235	39

Loan portfolio & customer resources

(M.€) June 2025	As reported by BPI	Adjustments	contribution BPI to (BPI segment) CABK Group
and advances Loans to customers, net	31 890	( 103)	31 788
Total funds customer	41 897	(4 915)	36 983

The differences between the reported data by BPI and BPI contribution to CaixaBank Group mainly reflect consolidation adjustments and reclassifications to ensure consistency in presentation criteria.

BPI contribution to CaixaBank Group net income is broken down into "BPI" segment and "Corporate Center", which includes the contributions from BFA and BCI, as well as the remuneration of BPI's excess capital.

Regarding customer resources, it should also be noted that the insurance contract liabilities of BPI Vida e Pensões (fully owned by VidaCaixa de Seguros y Reaseguros) are recorded under CaixaBank banking and insurance business segment.

1) Consolidation, standardisation and net fair value adjustments in the business combination.

Reconciliation of the profit & loss account structure

• The European Securities and Markets Authority (ESMA) published on 5th October 2015 a set of guidelines relating to the disclosure of Alternative Performance Measures by entities (ESMA/2015/1415). These guidelines are mandatory to issuers with effect from 3rd July 2016.
• In addition to the financial information prepared in accordance with the International Financial Reporting Standards (IFRS), BPI uses a set of indicators for the analysis of performance and financial position, which are classified as Alternative Performance Measures, in accordance with the abovementioned ESMA guidelines. The information relating to those indicators has already been object of disclosure, as required by ESMA guidelines.
• In the current presentation, the information previously disclosed is included by way of cross-reference and a summarized list of the Alternative Performance Measures is presented next.

The following table shows the reconciliation of the structure used in this document (Results' Presentation) with the structure adopted in the financial statements and respective notes of the Report and Accounts.

Adopted acronyms and designations			Units, conventional sings and abbreviations
YtD		Year-to-date change	€, Euros, EUR		euros
YoY		Year-on-year change	th.€, th.euros		thousand euros
QoQ		quarter-on-quarter change	M.€, M.euros		million euros
ECB		European Central Bank	Bn.€, Bi.€		billion euros
BoP		Bank of Portugal			change
CMVM		Securities Market Commission	n.a.		not available
APM		Alternative Performance Measures	0, –		null or irrelevant
MMI		Interbank Money Market	vs.		versus
T1		Tier 1	b.p.		basis points
CET1		Common Equity Tier 1	p.p.		percentage points
RWA		Risk weighted assets	E		Estimate
TLTRO		Targeted longer-term refinancing operations	F		Forecast
LCR		Liquidity coverage ratio
NSFR		Net stable funding ratio

Reconciliation of Banco BPI profit & loss account structure

Structure used in the Results' Presentation	Jun 25	Jun 25	Structure presented in the financial statements and respective notes
Net interest income	441.9	441.9	Net interest income
Dividend income	56.7	56.7	Dividend income
Equity accounted income	19.5	19.5	Share of the profit or (-) loss of investments in subsidiaries, joint ventures and associates accounted for using the equity method
Net fee and commission income	149.9	169.0	Fee and commission income
		-19.1	Fee and commission expenses
Gains/(losses) on financial assets and liabilities and	6.0	0.0	Gains or (-) losses on derecognition of financial assets and liabilities not measured at fair value through profit or loss, net
other		2.9	Gains or (-) losses on financial assets and liabilities held for trading, net
		-0.9	Gains or (-) losses on non-trading financial assets mandatorily at fair value through profit or loss, net
		2.1	Gains or (-) losses from hedge accounting, net
		1.9	Exchange differences [gain or (-) loss], net
Other operating income and expenses	-8.7	31.0	Other operating income
		-39.7	Other operating expenses
Gross income	665.4	665.4	GROSS INCOME
Staff expenses	-126.6	-126.6	Staff expenses
Other administrative expenses	-93.5	-93.5	Other administrative expenses
Depreciation and amortisation	-33.4	-33.4	Depreciation
Operating expenses	-253.5	-253.5	Administrative expenses and depreciation
Net operating income	411.9	411.9
Impairment losses and other provisions	-28.0	0.5	Provisions or (-) reversal of provisions
		-28.6	Impairment or (-) reversal of impairment on financial assets not measured at fair value through profit or loss
Gains and losses in other assets	-21.2	-21.6	Impairment or (-) reversal of impairment of investments in subsidiaries, joint ventures and associates
		0.0	Impairment or (-) reversal of impairment on non-financial assets
		0.0	Gains or (-) losses on derecognition of non financial assets, net
		0.3	Profit or (-) loss from non-current assets and disposal groups classified as held for sale not qualifying as discontinued operations
Net income before income tax	362.7	362.7	PROFIT OR (-) LOSS BEFORE TAX FROM CONTINUING OPERATIONS
Income tax	-88.2	-88.2	Tax expense or income related to profit or loss from continuing operations
Net income from continuing operations	274.5	274.5	PROFIT OR (-) LOSS AFTER TAX FROM CONTINUING OPERATIONS
Net income from discontinued operations			Profit or (-) loss after tax from discontinued operations
Net income	274.5	274.5	PROFIT OR (-) LOSS FOR THE PERIOD ATTRIBUTABLE TO OWNERS OF THE PARENT

EARNINGS, EFFICIENCY AND PROFITABILITY INDICATORS	The following earnings, efficiency and profitability indicators are defined by reference to the above structure of the profit and loss account used in this document.
Gross income	Net interest income + Dividend income + Net fee and commission income + Equity accounted income + Gains/(losses) on financial assets and liabilities and other + Other operating income and expenses
Commercial banking gross income	Net interest income + Dividend income + Net fee and commission income + Equity accounted income excluding the contribution of stakes in African banks
Operating expenses	Staff expenses + Other administrative expenses + Depreciation and amortisation
Net operating income	Gross income – Operating expenses
Net income before income tax	Net operating income – Impairment losses and other provisions + Gains and losses in other assets
Cost-to-income ratio (efficiency ratio) 1)	Operating expenses, excluding costs with early-retirements and voluntary terminations and other non recurrent / Gross income 2
Cost-to-core income ratio (core efficiency ratio)1)	[Operating expenses, excluding costs with early-retirements and voluntary terminations and other non recurrent – Income from services rendered to CaixaBank Group (recorded under Other operating income and expenses)] / Commercial banking gross income
Return on Equity (ROE)1)	Net income for the period, less the interest cost of AT1 capital instruments recorded directly in shareholders' equity / Average value in the period of shareholders' equity attributable to BPI shareholders, excluding AT1 capital instruments
Return on Tangible Equity (ROTE)	1) Net income for the period, less the interest cost of AT1 capital instruments recorded directly in shareholders' equity / Average value in the period of shareholders' equity attributable to BPI shareholders (excl. AT1 capital instruments) after deduction of intangible net assets and goodwill of equity holdings
Return on Assets (ROA)1)	(Net income attributable to BPI shareholders + Income attributable to non-controlling interests - preference shares dividends paid) / Average value in the period of net total assets
Unitary intermediation margin	Loan portfolio average interest rate, excluding loans to employees – Deposits average interest rate
BALANCE SHEET AND FUNDING INDICATORS
On-balance sheet Customer resources3)	Deposits + Capitalisation insurance of fully consolidated subsidiaries + Participating units in consolidated investment funds ▪ Deposits = Demand deposits and other + Term and savings deposits + Interest payable + Retail bonds (Fixed rate bonds placed with Customers) ▪ Capitalisation insurance of fully consolidated subsidiaries (BPI Vida e Pensões sold on Dec.17)
Off-balance sheet Customer resources4)	Investment funds + Capitalisation insurance + Pension plans + Subscriptions in public offerings ▪ Investment funds = Unit trust funds + Real estate investment funds + Retirement-savings and equity-savings plans (PPR and PPA) + Hedge funds + Assets from the funds under BPI Suisse management (BPI Suisse sold on Apr.23) + Third-party unit trust funds placed with Customers. ▪ Capitalisation insurance = Third-party capitalisation insurance placed with Customers ▪ Pension plans = Pension plans under BPI management (includes BPI pension plans) ▪ Subscriptions in public offerings = Customers subscriptions in third parties' public offerings

¹⁾ Ratio referring to the last 12 months, except when indicated otherwise. The ratio can be computed for the cumulative period since the beginning of the year, in annualised terms. 2) Excluding non-recurrent.

4) Amounts deducted from participating units in the Group banks' portfolios and from off-balance sheet products investments (investment funds and pension plans) in other off-balance sheet products.

³⁾ The amount of on-balance sheet Customer resources is not deducted from the applications of off-balance sheets products (investment funds and pension plans) in on-balance sheet products.

BALANCE SHEET AND FUNDING INDICATORS (continuation)
Total Customer resources	On-balance sheet Customer resources + Off-balance sheet Customer resources
Gross loans to customers	Gross loans and advances to Customers (financial assets at amortised cost), excluding other assets (guarantee accounts and others) and reverse repos + Gross debt securities issued by Customers (financial assets at amortised cost) Note: gross loans = performing loans + loans in arrears + receivable interests
Net loans to Customers	Gross loans to Customers – Impairments for loans to Customers
Loan-to-deposit ratio (CaixaBank criteria)	(Net loans to Customers - Funding obtained from the EIB, which is used to provide credit) / Deposits and retail bonds
ASSET QUALITY INDICATORS
Impairments and provisions for loans and guarantees (income statement)	Impairment or reversal of impairment on financial assets not measured at fair value through profit or loss relative to loans and advances to Customers and to debt securities issued by Customers (financial assets at amortised cost), before deduction of recoveries of loans previously written off from assets, interest and others + Provisions or reversal of provisions for commitments and guarantees
Cost of credit risk	Impairments and provisions for loans and guarantees - Recoveries of loans previously written off from assets, interest and other
	Cost of credit risk as % of loan portfolio1) (Impairments and provisions for loans and guarantees - Recoveries of loans previously written off from assets, interest and other) / Average value in the period of the gross loans and guarantees portfolio.
Performing loans portfolio	Gross Customer loans - (Overdue loans and interest + Receivable interests and other)
NPE and NPL ratios	Ratio of non-performing exposures (NPE) and ratio of non-performing loans (NPL) in accordance with the EBA criteria (prudential perimeter)
Coverage of NPE or NPL	[Impairments for loans and advances to Customers (financial assets at amortised cost) + Impairments for debt securities issued by Customers (financial assets at amortised cost) + Impairments and provisions for guarantees and commitments] / [Non-performing exposures (NPE) or Non-performing loans (NPL)]
Coverage of NPE or NPL by impairments and associated collaterals	[Impairments for loans and advances to Customers (financial assets at amortised cost) + Impairments for debt securities issued by Customers (financial assets at amortised cost) + Impairments and provisions for guarantees and commitments + Collaterals associated to NPE or NPL] / [Non-performing exposures (NPE) or Non-performing loans (NPL)]
Non-performing loans ratio ("credito dudoso", Bank of Spain criteria)	Non performing loans ("credito dudoso", Bank of Spain criteria) / (Gross Customer loans + guarantees)
Non-performing loans coverage ratio	[Impairments for loans and advances to Customers (financial assets at amortised cost) + Impairments for debt securities issued by Customers (financial assets at amortised cost) + Impairments and provisions for guarantees and commitments] / Non performing loans ("credito dudoso", Bank of Spain criteria)
Coverage of non-performing loans by impairments and associated collaterals	[Impairments for loans and advances to Customers (financial assets at amortised cost) + Impairments for debt securities issued by Customers (financial assets at amortised cost) + Impairments and provisions for guarantees and commitments + Collateral associated to credit] / Non performing loans ("credito dudoso", Bank of Spain criteria)
Impairments cover of foreclosed properties	Impairments for real estate received in settlement of defaulting loans / Gross value of real estate received in settlement of defaulting loans

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BANCO BPI, S.A. Registered office: Avenida da Boavista 1117, Porto, Portugal Share capital: € 1 293 063 324.98 Registered at Commercial Registry of Porto under registration number PTIRNMJ 501 214 534 and tax identification number 501 214 534