Banco Comercial Portugues

Earnings Release • Feb 5, 2019

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

February 5, 2019 Banco Comercial Português, S.A. informs about Bank Millennium (Poland) results in 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 2018. Main highlights are as follows:

"Record net profit

• Net profit of 2018 reached 761 million PLN (178.4 million EUR), +12% versus 2017
• ROE at 9.6%, i.e. +0.3 p.p. versus 2017
• Cost/income at 46.5% i.e. -0.3 p.p. versus 2017

Interest income drives growth; costs under wage inflation pressure and digital related projects

• Net interest income grew 8.1% y/y
• Commissions flat yearly due to adverse capital markets impact
• Operating income grew by 6.1% y/y while costs grew by 5.4% y/y (of which staff costs by 7% y/y)

High asset quality and low cost of risk maintained

• Cost of Risk at 48 b.p. yearly the lowest level in the last 5 years
• Impaired loans (stage 3) ratio improvement to 4.5% (from 5.2% after IFRS9 introduction on 1.1.2018)

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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 4,725,000,000.00 LEI: JU1U6S0DG9YLT7N8ZV32

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

Strong capital and liquidity ratios

• Group's Total Capital Ratio (TCR) at 21.7%, and CET1 (= T1) at 19.8% (without net profit of 2018)
• Loans to Deposits ratio at a very low level of 80%"

End of announcement Banco Comercial Português, S.A.