Banco Comercial Portugues

Earnings Release • Jul 27, 2015

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

²⁷ July ²⁰¹⁵ Banco Comercial Português informs about Bank Millennium (Poland) results in 1H15

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 2015, whose highlights are as follows:

Consolidated net profit at PLN 328 million (€79 million) in 1H2015, a 2.4% increase versus 1H2014, and at PLN 165 million (€40 million) in 2Q2015, a 1.6% increase compared 1Q2015. This increase was in spite of the negative pressure on banking income caused by several drivers, including lower market interest rates and regulatory limits on card-related fees. A slight decrease in net operating income (-2% y/y) was more than compensated by a drop in operating costs (-1.6% y/y) and lower provisions on credit risk (-9% y/y).

Main financial and business highlights of 1H2015 results:

Resilient profitability

• 1H15 net profit at PLN 328 million: +2.4% y/y
• 2Q15 net profit at PLN 165 million: +1.6% q/q
• ROE at 11.2%, with equity growth of 10.8% y/y

Core income under pressure but interest income flat despite rate cut in March

• Interest income flat quarterly (-0.8% q/q) indicating gradual recovery after market interest rate cuts
• Core income fell by 4.6% y/y and by 2.4% q/q due to rate cuts and lower commission income

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

Lower costs and high efficiency

• Operating costs dropped by 1.2% q/q and by 1.6% y/y, despite higher Banking Guarantee Fund fees
• Cost to income in 2Q below 50%

High asset quality maintained

• Impaired loans ratio at 4.3%.
• Mortgage impaired ratio at 1.75%

Capital ratios increased after full profit retention

• Strong capital base, with Total Capital Ratio at 15.2% and Common Equity Tier 1 at 14.6%
• Loan-to-deposits ratio at 92.1%

Deposits/accounts/Customers

• PLN 50 billion record level of deposits crossed
• Strong sales of non-deposit investment/savings products: +PLN 870 million (13%) in 1H'15
• 4th place in net yearly increase of PLN current accounts thanks to new Konto 360º campaign
• Accelerated growth of number of active Customers: 21 thousand more in 2Q'15

Loans

• High level of cash loans sale maintained: 2Q result of PLN 669 million
• Traditionally good, double-digit yearly growth in leasing and factoring portfolios

Digital platform

• Mobile applications active users almost doubled y/y to 279 thousand
• New mobile applications for Android, iOS and Smartwatch

End of announcement Banco Comercial Português, S.A.

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