Banco Comercial Portugues

Investor Presentation • May 2, 2019

1Q19 Banco BPI Consolidated results

2 May 2019

"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, neither BPI, nor any of its administrators, directors or employees, either explicitly or implicitly, guarantees that these contents are exact, accurate, comprehensive or complete, nor are they 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 Glossary 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.

l d d l h i i B P I 1 2 0 1 9 t t t t t c o n s o a e r e s u s n e s q u a r e r
i i l d i h N P t t t e n c o m e n o r g a a n n e u l i d d t c o n s o a e	l i d d f i f h C 4 9. 2 M € i 1 2 0 1 9 t t t t t t  o n s o a e n e p r o o n e s q u a r e r f l f h i i € i 1 2 0 1 9 N P 4 5. 5 M t t t t t t  e p r o n o r u g a o n e s q u a r e r
h i d G C t t r o w n u s o m e r r e s o u r c e s a n d b l l i i i i i P t t t t c r e s a s a o n n o r u g a	d ( d ) l C i 1 5 2 M € 0. 7 % T C 4 2 7 M € t t t t t  + u s o m e r e p o s s g r o w y ; o a u s o m e r r e s o u r c e s g r o w ( ) d 1. 3 % t + y f l b l ( d ) l b l ( d ) L i 0. 3 % L i i P 0. 6 % t t t t t t t  + + o a n p o r o o s a e y ; o a n s o c o m p a n e s n o r u g a s a e y
d f I i 0 0 € B P 5 M M t s s u e o o r g a g e d b d 5 c o v e r e o n s, y e a r s	f h l d b k h f i i i i 0 0 € i R B P I 5 M 5‐ t t t t t t t t t t  e u r n o o e n s u o n a e m a r e w a s s u e o y e a r m o r g a g e b d d d h d b i h i 6 t t t t o n s : e m a n r e a c e a o u m e s e s s u e a m o u n
h l i i H t t g a s s e q u a y	1 ( ) f i i f i N N P E E B A i i 3. 3 % M 1 9 t t  o n‐ p e r o r m n g e x p o s u r e s r a o c r e r a o n a r. – b d l l l f f ( ) f C i i i N 1 2 % P E 7 t t  o v e r a g e y m p a r m e n s a n c o a e r a o n o n‐ p e r o r m n g e x p o s u r e s o
i l i i S t t t r o n g c a p a s a o n	l l l d d i l i f d l f F C E T 1 1 3. 5 % 1 5. 2 % t t t t  u y o a e c a p a r a o s : o a n o a o l l l d d l f i 2 % F 7. t  u y o a e e v e r a g e r a o o
i i i R t t t a n g s c o n n e o m p r o e u v 's lo d b d by B P I in ‐t t t t t ng e rm e a ve s m e n g ra e h, dy 's d i S & F M P t c o o a n	's & d d b h l d b i I M 1 9, S P 1 B P I B B B t ‐t t t t  n a r. u p g r a e n o c o n g e r m e r a n g o y d d b i h, d 's d & l B P I B B B, B 2 B B B F M S P, i t t t  r a e a a a n c o o a n y y r e s p e c v e y
d i i d d d i i b i B P I t t r e s u m e s v e n s r u o n	l h h l d d l h l f h d f f d d d S 2 9 i i i i A B D t t t  o e s a r e o e r a p p r o v e o n p r e p r o p o s a o e o a r o r e c o r s o r a v e n d i i b i f i h 1 4 0 M € 2 0 1 8 t t t t t s r u o n o w r e s p e c o

1) According to EBA (European Banking Authority) criteria; considering the prudential supervision perimeter.

Consolidated net profit of 49 M.€ in 1Q 19

	l d d i i C t t o n s o a e n e n c o	m e			 y o y
	I M € n	1 Q 1 8 t s d j d te a us	1 Q 1 9 t s	 %	i & i I ‐1 0 M € t  m p a r m e n s r e c o v e r e s ( ls o f in ls o f in ) 1 1 M. € 1 Q 1 8 v 1 M. € 1 Q 1 9 rev ers a s. rev ers a / i i f i i l l i b i l i i G ‐8 M € t t  a n s n n a n c a a s s e s a e s
	i i i l A P t t t c n o r g a v y u				N i i € 5 M t t t  + e n e r e s n c o m e
i i i A t t n	f R i i t t e c u r r n g n e p r o	5 8. 3	4 5. 7	‐2 2 %	f & i i N ‐5 M € t  e e e c o m m s s o n s
c v y l P t o r u g a	) 2 N i i t o n‐ r e c u r r n g m p a c s	6 0. 1	( ) 0. 3		i O ‐3 M € t  p e r a n g e p e n s e s x
b d h i i t t t c o n r u e w € 4 5. 5 M t o	f i i l N P t t t e p r o n o r a u g	1 1 8. 4	4 5. 5	‐6 2 %	d h 8 € I M t t  + n c o m e a x a n o e r
l d d i t t c o n s o a e n e	b d h B C I i i t t t c o n r u o n a n o e r	5. 5	3. 7		i l R R O T E P t t e c u r r e n n o r u g a
f i i 1 Q 1 9 t p r o n	l d d f i i C t t t o n s o a e n e p r o	( ) 1 2 3. 9 1	9. 2 4	% ‐6 0	M 1 8 M 1 9 2 0 2 T 1 a r. t a r. a r g e
					R R O T E t e c u r r e n % 8. 6 % 8. 0 % 1 1  (Las s) t 12 nth mo

1) Consolidated net profit in 1Q 18 excluding the appropriation of BFA's results by equity method (86.0 M.€).

The consolidated net profit as reported in 1Q 18 was 209.9 M.€.

At the end of 2018, BPI changed the accounting classification of the investment in BFA, from "associated company", consolidated by the equity method, to financial investment, recorded under "investments at fair value through other comprehensive income". Since the 1st January 2019, consolidated net profit ceases to include (by equity method) BPI proportionate share in BFA results.

2) In 1Q 18, non‐recurring impacts include a 59.6 M.€ gain with the sale of the equity holding in Viacer.

‐4.4% yoy

Gross income

Recurring

Net interest income increases 5.2% (yoy)

G r o s s	i n c o m e

In M €	M 1 8 ar	M 1 9 ar	 %	 M .eu r
Re in Gr in cu rr g os s co m e
in in Ne t te t re s co m e	1 0 1. 5	1 0 6. 8	% 5. 2 +	5. 2 +
fe d Ne iss io in t e an co m m n co m e	6 5. 6	( ) 1 6 0. 4	8. 0 % ‐	( ) 5. 2
/ ( lo ) f l a d l b l d Ga in in ia ia i i ie ts t s ss es on an c ss e a n s a n he in t o r co m e	1 0 5.	6. 9	3. % 5 7 ‐	( ) 8. 1
in in Re Gr cu rr g os s co m e	1 8 2. 1	1 7 4. 1	% 4. 4 ‐	( ) 8. 0
No in i te n re cu rr g m s	5 9. 6	( ) 2 0. 0	‐	( ) 5 9. 6
Gr in d te os s co m e as re p or	2 4 1. 7	1 7 4. 1	2 8. 0 % ‐	( ) 6 6 7.

1) In 1Q 18, it includes commissions with cards and acquiring and investment banking businesses that were subsequently sold to CaixaBank.

2) Gain from the sale of the equity holding in Viacer.

Loan portfolio stable (+0.3% ytd)

Loans to Customers by segments

f l G i i € M t r o s s p o r o o, n	d 8 1 e c.	/ 9 1 m a r	Y D t
i d i i d l I. L t o a n s o n v u a s	1 2 8 5 5	1 2 4 6 5	( ) 0. 1 %
l M t o r g a g e o a n s	1 1 1 7 1	1 1 1 1 6	( ) 0. 5 %
h l d d l O i i i t t e r o a n s o n v u a s	1 3 8 7	1 4 3 0	3. 1 %
C i I I. L t o a n s o o m p a n e s	9 2 8 9	9 3 4 9	0. 6 %
d k C i C & i I B t t t o m p a n e s a n o r p o r a e n v e s m e n a n n g	6 7 1 1	2 3 0 7	6 % 1.
l l b i S m a u s n e s s e s	2 1 7 3	2 1 1 9	( ) % 2. 5
b l i I I I. P t u c s e c o r	1 5 4 4	1 5 4 4	0. 0 %
h I V O t e r	9 6	1 0 7	1 2. 0 %
l T t o a	2 3 4 8 7	2 3 5 4 6	0. 3 %
N t o e :
f l f i i i L t t t o a n p o r o o n e o m p a r m e n s	2 2 9 4 9	2 3 0 2 5	% 0. 3

Increase in market share

Corporate and Small Businesses loan portfolio 1)

1) Loans to resident non‐financial corporations. Source: BPI and Bank of Portugal.

Commercial activity | 2

Increase in business with corporates and greater proximity to Customers

Activity in strategic segments and priority businesses

Commercial activity | 2

Individuals new loans origination and market shares

Car Finance Personal Loans

9

Total Customer resources increase 1.3% YtD

Customer resources

€ I M n	d 8 1 e c.	9 1 m a r.	Y D t
b l h I. O t n‐ a a n c e s e e r e s o r c e s u	2 2 0 5 2	2 2 2 9 2	% 1. 1
1 d C i t t u s o m e r e p o s s	2 1 1 6 0	2 1 3 1 2	0. 7 %
l d f l i i i i i I t t t t n s o n a a n n a n c a n e s o r s u v d i t e p o s s	8 9 2	9 8 0	9. 8 %
d I I. A t t s s e s n e r m a n a g e m e n u	9 1 9 1	9 4 1 9	% 2. 5
l f d M t u u a u n s	5 0 8 3	5 2 0 5	2. 4 %
l C i i i i t t a p a s a o n n s u r a n c e	4 1 0 7	4 2 1 4	2. 6 %
b l i f f i I I I. P u c o e r n g s	1 9 5 2	1 9 1 1	2. 1 % ‐
l T t o a	3 3 1 9 5	3 3 6 2 2	% 1. 3

1) Includes retail bonds of 18 M.€ in Dec.18 and 12 M.€ in Mar.19.

Market shares Feb. 19 Deposits 9.9% 2) Mutual funds 3) 15.8% Capitalisation insurance 3) 15.3% PPR's 3) 10.5%

2) In Jan. 2019.

3) The PPR's include PPR in the form of mutual funds and capitalization insurance. For this reason, these PPRs are excluded in the calculation of the mutual funds and Capitalization Insurance market shares.

Digital Transformation: new solutions

h f L a u n c o "P i " I t o u p a r e n v e s r i B P I A n p p	f i N R t t e a r e a o r e r e m e n w i B P I A n p p	l i "P i d S t o u o n s r e c s o e d " i i i L B P I N t q u e z n e	C D t t u s o m e r a a l d d C i U t t t o n s u a o n a n p a e
fo l l io io Po t t t  r c o ns u a n d d l la A i io in t t t  na ve s m e n s, p ns d b i l is io t a n m o a n lo d b C ip io io t t t  a a g a n su s c r n o p n	's fo l l io io P P R t t t  p o r c o ns u a n d d l d A i io in t t t  na ve s m e n s a n io d ic la io t p e r p ns o p ns fo la im Re t  rm s u o r	le h in in Ac C t  c e s s a s g m e nu o a s dv l d A Pe C i t, a nc e, rs o na re b l f s d i is io in M t o a n o av g s a n du in t t t ve s m e n p ro c s	ha f l 's h ie d i C C t t t  ng e o n a a, w lo d f d hr h B P I t t p a o o cu m e n s ou g u Ap B P I Ne t p o r

Digital Transformation: increasing use

1) Active customers 1st holders, individuals and companies.

2) Individuals BASEF (Feb.2019, accumulated 12 months) and Companies DATAE (2018), main Banks.

BPI positioning as the Bank for families

• Launching of the BPI Family Campaign that places BPI as "A Bank in the Lives of All Families"
• New concept of communication reflected in the different campaigns to be developed during 2019
• BPI Family encompasses the products and services of the individuals banking, strengthening the proximity to Customers and the long‐term relationship

Under this concept campaigns have already been launched:

BPI Family Conta Valor

BPI Family Seguros

Social Responsibility

Awards BPI "la Caixa"

Joint initiative of BPI and the "la Caixa" Foundation. These awards are intended to support projects that promote the improvement of the quality of life and equal opportunities for people in situations of social vulnerability.

In total there are 5 BPI "la Caixa" Awards, in the amount of 3.75 M.€ corresponding to 750 thousand euros per Prize.

Public recognition

Results and balance sheet – activity in Portugal | 3

Net interest income increases 5.2% (yoy)

Results and balance sheet – activity in Portugal | 3

Commissions decrease 8.0% yoy

Net fee and commission income, M.€

Excluding the effect from sales of the cards, acquiring and investment banking businesses, commissions increase (comparable perimeter) by 3.3 M. €

€ E M m	8 M 1 a r.	9 M 1 a r.	Y Y o
k B i i i a n n o m m s s o n s g c	3 9. 4	3 5. 4	1 0. 2 % ‐
l f d M t a n s u u u	1 0. 1	8. 9	1 1. 5 % ‐
I n s u r a n c e	1 6. 1	1 6. 1	% 0. 4 ‐
l T t o a	6 5. 6	6 0. 4	% 8. 0 ‐

Recurring operating expenses increase 2.4% yoy

1) Additionally, at Mar.19, BPI had 39 premier centres, 1 mobile branch and 36 corporate centres in Portugal, thus totalling 497 business units.

Results and balance sheet – activity in Portugal | 3

Cost‐to‐income of 60% in Mar. 19

Results and balance sheet – activity in Portugal | 3

Loan impairments of 1.9 M.€ and recoveries of 3.3 M.€ in 1Q 19

1) Impairments after deducting recoveries of loans previously written off.

2) In 1Q 19 in annualised terms. In the last 12 months up to Mar.19, the cost of credit risk was ‐0.14% of the gross loans and guarantees portfolio.

Non‐performing loans – NPL ("Crédito Duvidoso") 1 219 1 043 1 021 5.1% 4.2% 4.0% 2017 2018 Mar.19 2 581 2 074 1 790 1 408 1 055 1 011 9.0% 7.7% 6.6% 5.1% 3.5% 3.3% 2014 2015 2016 2017 2018 Mar.19 NPE ratio of 3.3% in March 19 Non‐Performing Exposures ‐ NPE (EBA criteria2) Coverage ratio1) 38% 43% 39% 43% 53% 50% 54% 127% Coverage by impairments and collaterals 120% M.€ M.€ 54% 127% 53% 117% 118% 119%

1) Coverage by impairments accumulated in the balance sheet for loans and guarantees; does not consider collaterals.

2) NPE ratio considering the prudential supervision perimeter.

Employees pension liabilities

Employees pension liabilities

M €	3 1 De 1 8 c.	3 1 M 1 9 ar
l p ice l ia b i l i To ta t s ty as er v	1 6 3 9	1 7 0 0
f he io fu ds Ne t a ts t ss e o p en s n n	1 6 1 3	1 6 5 8
f c f p io l ia b i l i ies De t g re e o ov er ag e o en s n	9 8 %	9 8 %
1) fu ds Pe io tu ns n n re rn	5. 5 %	3. 2 %

Actuarial assumptions

	3 8 1 De 1 c.		3 9 1 M 1 ar
D isc t r te ou n a		2. 0 %	1. 7 5 %
lar h Sa t te y g ro w ra		1. 0 %	1. 0 %
io h Pe t te ns ns g ro w ra		0. 5 %	0. 5 %
l i b le: M M ta ty ta or en		/ T V 8 8 9 0
l i b le: M W ta ty ta or om en	8 T V	/ 8 9 0 – 3 y ea rs

Actuarial deviations2) in 1st Q. 19

	M €
fu ds Pe io in ns n n co m e	4 4 +
ha in he d isc C t t r te ng e ou n a	( ) 6 5
he O t r	( ) 1
l ia d ia io in Q 2 0 9 Ac 1s 1 tu t t a r ev ns	( ) 2 2

1) Non‐annualised return (ytd).

2) Recognised directly in shareholders, in accordance with IAS19.

1) Considering the Board of Directors' dividend distribution proposal in respect to the 2018 fiscal year.

2) Minimum value in calibration.

Results and balance sheet – activity in Portugal | 3

Balanced funding structure and comfortable liquidity position

Customer resources constitute the main source of financing of the balance sheet (71% of the assets)

1) Includes short‐term public debt of 0.6 Bi.€ (Portugal), with a residual average maturity of 0.5 years, and medium and long‐term debt of 2.8 Bi.€ (Portugal 35%, Spain 47% and Italy 18%) with an average residual maturity of 2.1 years.

2) Average 12 months, according to EBA guidance. Average amount (last 12 months) of LCR components calculation: Liquidity Reserves (4 018 M.€); Total net outflows (2 368 M.€).

BPI has investment grade long‐term credit rating from Fitch, Moody's and S&P

		Aa 3 bo ds Mo rtg ag e n		nd			( lo ) A A bo Mo rtg ag e w
… A A‐, AA AA nd AA A + a , A+		A 1		A+	… A A‐, AA AA AA A + a ,			n ( ) h ig h A
A			A 2		A			A		k 1 Ba n
A‐		A 3		A‐			( low ) A
B B B+		Ba 1 a		B B B+		k Ba 1 n		( ) h ig h B B B
l Po rtu B B B g a	k Ba 1 n	Ba 2 a			B B B	l Po rtu g a			B B B	l Po rtu g a
B B B‐		Po Ba 3 rtu g a a	l	k Ba 1 n	B B B‐		( low ) B B B		k Ba 3 n
B B+		k Ba 3 Ba 1 n		B B+			k Ba ( h h ) B B ig n		2
B B	k Ba 2 n	Ba 2	k Ba 2 n		B B		k Ba 2 n	k Ba 3 n	B B		k Ba 4 n
B B‐		3 Ba		B B‐			( ) low B B
B+		B 1			B+		k Ba 4 n		( h h ) B ig		k Ba 5 n
B		2 B		B			B
B‐		B 3	k Ba 4 n		B‐			( low ) B
C C C+		Ca 1 a		C C C+			( h h ) C C C ig
nd … C CC, CC C‐, CC, C a D		k Ca 2 Ba 5 a n		nd … C CC, CC C‐, CC, C a D		C ( low ), ( hig h), ( low ), … C CC, CC CC CC, CC C
de		and Caa 3, Ca C … de			de Inv B B B		( hig h), C ( low ), C, D

Moody's (16 Oct.18) upgraded by 2 notches BPI's long‐term debt rating from Ba1 to Baa2 and the rating of long‐term deposits from Baa3 to Baa1. The outlook of the long‐term debt rating is negative and the outlook of deposits is stable.

Fitch (11 Oct.18) upgraded by 1 notch BPI's long‐term debt rating, from BBB‐ to BBB, with stable Outlook

S&P (18 Mar.19) upgraded by 1 notch BPI's long‐term debt rating, from BBB‐ to BBB, with stable Outlook At 30 April 2019

BPI resumes dividend distribution

• In 2018, Banco BPI reported a consolidated net profit of 490.6 M.€
• At 29 de Abril the sole shareholder approved the Board of Directors proposal for a dividend distribution of 140 M.€ with respect to the 2018 financial year, which corresponds to a 31% payout1)
• We recall that BPI maintains a solid capital position, with a total capital ratio, after dividend distribution, of 15.5% in Dec.18
• The payment of this dividend reflects the normalisation of the Bank's activity, after 9 years without dividend distribution

1) Payout on 457.6 M.€, corresponding to the net profit reported in Banco BPI individual accounts for 2018 (914.3 M.€) and excluding the unrealised capital gain on the revaluation of the equity holding in BFA (456.7 M.€). Banco BPI Long‐Term Dividend Policy provides for the distribution of an annual dividend, tendentially between 30% and 50% of the net income reported in the individual accounts for the year to which it relates, where

the exact amount to be proposed (by the Board of Directors to the General Meeting) shall be defined in light of a prudent judgement which takes into account, in view of the specific situation at the time of Banco BPI, the permanent satisfaction of adequate levels of liquidity and solvency.

Results in the 1st quarter 2019 ‐ Highlights

Results in the 1st quarter 2019

• Income Statements and Balance sheet in accordance with IAS / IFRS
• Profitability and efficiency as in the Bank of Portugal's Instruction no. 16/2004
• Reconciliation between BPI reported figures and BPI Segment contribution to CaixaBank Group
• Alternative Performance Measures

Income Statement of activity in Portugal

		1st Q r 2 01 8 rte ua			1st Q r 2 01 9 rte ua
In M. €	d As rte re po	No n	l. n Exc on		No n	l. n Exc on	l. n Exc on
		1) rec urr	rec urr	d As rte re po	2) rec urr	rec urr	rec urr
t in in Ne ter est co me	10 1.5		10 1.5	10 6.8		10 6.8	% 5.2
Div i de d inc n om e	0. 0		0. 0	0. 1		0. 1	s.s
ity d inc Eq te u ac co un om e	2. 5		2. 5	4. 8		4. 8	.1% 89
fee d c Ne mi ion in t an om ss co me	65 .6		65 .6	60 .4		60 .4	‐8. 0 %
/ ( los ) o fin l as d lia b liti d o he Ga ins ia i set t ses n an c s a n es an r	72 .5	59 .6	12 .9	( ) 0.8		( ) 0.8	‐10 6.1 %
he d e Ot ing in rat r o pe co me an xp en ses	( ) 0.5		( ) 0.5	2. 9		2. 9	s.s
inc Gr oss om e	24 1.7	59 .6	18 2.1	17 4.1		17 4.1	‐4. 4%
f f e Sta xp en ses	( ) 63 .8	( ) 2.7	( ) 61 .1	( ) 60 .9	0. 0	( ) 60 .9	‐0. 3 %
he dm Ot ini ive str at r a ex pe nse s	( ) 41 .8		( ) 41 .8	( ) 37 .0	( ) 0.3	( ) 36 .7	‐12 .3 %
d a De iat ion rtis ion at pre c an mo	( ) 5.2		( ) 5.2	( ) 13 .1		( ) 13 .1	15 2.5 %
Op ing t era ex pe nse s	( ) 11 0.8	( ) 2.7	( ) 10 8.1	( ) 11 1.1	( ) 0.3	( ) 11 0.7	2.4 %
Ne ing inc t o rat pe om e	13 0.9	56 .9	74 .0	63 .0	( ) 0.3	63 .3	‐14 .4%
irm los d o he is ion Im t t pa en ses an r p rov s	11 .1		11 .1	1. 2		1. 2	88 .9 %
Ga ins d los in he ot ts an ses r a sse	( ) 0.1		( ) 0.1	3 1.		3 1.	s.s
inc be for inc Ne t e t om e e om ax	1.9 14	56 .9	85 .0	65 .5	( ) 0.3	65 .9	‐22 % .5
Inc e t om ax	( ) 25 .9	0. 7	( ) 26 .7	( ) 20 .1	0. 1	( ) 20 .2	‐24 .4%
inc fro inu ing ion Ne t nt t om e m co op era s	11 5.9	57 .6	58 .3	45 .5	( ) 0.3	45 .7	% ‐21 .6
fro d d o Ne t in isc tin ion rat co me m on ue pe s	2. 5	2. 5
bu b le t l lin Inc i int ttr ta ntr sts om e a o n on ‐co o g ere
inc Ne t om e	11 8.4	60 .1	58 .3	45 .5	( ) 0.3	45 .7	‐21 .6 %

1) Non recurring impacts in 1st Quarter 2018: gain of 59.6 M.€ with the sale of the stake in Viacer, cost of 2.0 M.€ after taxes with early retirements (2.7 M.€ before taxes) and net income from discontinued operations of 2.5 M.€.

2) Non recurring impacts in 1st Quarter 2019: Other non recurring administrative expenses of 0.3 M.€ after taxes (0.3 M.€ before taxes).

Consolidated income statement

In M .€	Ma r.18	Ma r.19
t in in Ne ter est com e	10 1.5	10 6.8
ide nd Div inc om e	0.0	0. 1
Equ ity d i nte ac cou nco me	10 8.6	9. 1
t fe nd mi ssi in Ne e a com on com e	65 .6	60 .4
/ ( los ) o n f al a nd lia bil nd oth Ga ins ina nci itie ts a ses sse s a er	66 .7	( ) 1.1
he nd Ot ing in rat r o pe com e a ex pe nse s	( ) 0.5	2.9
Gr in oss com e	34 1.9	17 8.1
Sta ff e xp en ses	( ) 63. 8	( ) 60. 9
Of wh ich taf f e : Re rin cur g s xp en ses	( 1) 61.	( ) 60. 9
1) rin N ost on ‐re cur s g c	( ) 2.7	0.0
Ot he r ad mi nis tiv tra e e xp en ses	( ) 41. 8	( ) 37. 0
cia tio nd isa tio De ort pre n a am n	( ) 5.2	( 1) 13.
tin Op era g e xp en ses	( ) 110 .8	( ) 111 .1
Ne ing in t o rat pe com e	23 1.1	67 .0
Im irm t lo nd oth vis ion pa en sse s a er pro s	11 .3	1.2
ins d l in o the Ga set an oss es r as s	( ) 0.1	1.3
t in e b for e i Ne ta com e nco me x	24 2.3	69 .5
Inc e t om ax	( ) 34. 8	( ) 20. 3
t in fro tin uin ion Ne rat com e m c on g o pe s	20 7.4	49 .2
t in e f di nti ed tio Ne com rom sco nu op era ns	2.5
ibu tab le t oll Inc ing in ttr ntr ter est om e a o n on ‐co s
Ne t in com e	20 9.9	49 .2
	Ma r.18	Ma r.19
r sh ( ) Ear nin € gs pe are	0.1 4	0.0 3
fro ( ) Ne t in tin uin ion € rat com e m c on g o pe s	0.1 4	0.0 3
( ) t in fro m d isc tin d o ion € Ne rat com e on ue pe s	0.0 0
hte d n f sh ( llio ) Av ig in mi era ge we r. o are s ns	1 4 57	1 4 57

1) Costs with voluntary terminations and early retirements. Annexes

Consolidated balance sheet

In M .€	31 De c. 1 8	31 Ma r. 1 9
AS SET S
Ca h a nd h b ala al ba nks nd he r d d d its t ce ntr ot s ca s nce s a a em an ep os al he ld for di t fa lue th h p rof r lo Fi nci i i ts tra t o na a s se ng, a r va rou g s s	2 4 52. 9	2 2 38. 0
nd t fa i l th h o the reh siv e i a a r va ue rou g r co mp en nco me	2 3 30. 5	2 7 61. 2
al d c Fi nci rti ts t a t na a s se a mo se os	25 671 .9	25 940 .6
Of wh ich :
Loa Cu to tom ns s e rs	22 949 .1	23 024 .8
i n jo i nd oci Inv tm ts nt tur tes es en ven es a a s s a	209 .1	221 .0
ble Ta i ts ng a s se	67. 3	178 .3
Int ibl set a ng e a s s	1 55.	51. 8
Ta ts x a s se	352 .8	339 .9
No d d i l g cla si fie d a s h eld fo le t a ts n‐c urr en s se an s po sa rou ps s r sa	33. 9	32. 4
Oth ts e r a s se	394 .5	297 .7
Tot al a ts sse	31 568 .0	32 060 .9
LIA BIL ITIE S
al lia bil s h el d f di Fi nci i tie tra na or ng	141 .3	149 .2
Fi nci al lia bil i tie rtis ed t a t na s a mo co s	27 515 .7	27 819 .4
l B nks nd ed De si ‐ C Cr i t In ti ion ts tra tut po en a a s s	3 2 06. 3	3 3 24. 8
si De ts ‐ C tom po us e rs	22 960 .3	22 680 .3
chn l p Te ica i sio rov ns
De bt i tie s i ed se cur s su	1 1 18. 2	1 5 96. 8
nd ub ord ted lia bil Me i i i tie tem mo ra um s: s na s	304 .5	300 .3
Oth fi nci al lia bil i tie er na s	231 .0	217 .5
Pro vi sio ns	65. 5	65. 6
Ta x li ab ili tie s	73. 8	78. 2
Lia bil i tie s i ncl ud ed in di l g cla si fie d a s h el d f le s po sa rou ps s or sa	0.0	0.0
Oth r li bil i tie e a s	565 .7	680 .7
tal Lia bil i tie To s	28 362 .1	28 793 .1
Sh reh ol de ' eq bu tab le the ha reh ol de f B ui ttri PI ty a to a rs s rs o	3 2 06. 0	3 2 67. 8
lli i No tro nte ts n c on ng res	0.0	0.0
tal Sh reh ol de rs' To ui ty a eq	3 2 06. 0	3 2 67. 8
Tot al l iab ilit ies d S har eho lde rs' ity an equ	31 568 .0	32 060 .9

Consolidated profitability and efficiency metrics

According to Bank of Portugal Instruction no. 16/2004 with the amendments of Instruction 6/2018

	8 Ma 1 r.	9 Ma 1 r.
/ Gr inc A T A os s om e	6 % 4.	2. 3 %
/ be fo d bu b le l l Ne inc inc inc i ing in A T A t ta t tr ta to tro te ts om e re om e x a n om e a n on ‐co n res	3. 3 %	0. 9 %
be fo d bu b le l l / ha ho l de ' Ne inc inc inc i ing in t ta t tr ta to tro te ts om e re om e x a n om e a n on ‐co n res av er ag e s re rs ( ) i inc lu d ing l l ing in ty tro te ts eq u n on ‐co n res	3 4. 8 %	8. 6 %
/ f f e 1 S Gr inc ta xp en se s os s om e	% 1 7. 9	3 4. 2 %
/ 1 Op ing Gr inc t er a ex p en se s os s om e	3 1. 6 %	6 2. 2 %
( ) Lo de i io t to ts t an s ne p os ra	1 0 % 7	1 0 4 %

1) Excluding early‐retirement costs.

NPE ratio and forborne (prudential perimeter; according to the EBA criteria)

	8 Ma 1 r.	9 Ma 1 r.
( ) fo ing io No N P E t n‐ p er rm ex p os ur es ra	% 4. 6	% 3. 3
by im irm d c l la ls N P E c ts te ov er p a en an o ra	% 1 2 2	2 % 1 7
2) f fo bo lu de d Ra io inc in N P E t t o r rn e n o	% 1. 6	% 0. 7

2) Forborne according to EBA criteria and considering the scope of prudential supervision. On 31 March 2019, the forborne was 742 M.€ (forborne ratio of 2.3%), of which 216 M.€ was performing loans (0.7% of the gross credit exposure) and 526 M.€ was included in NPE (1.6% of the gross credit exposure).

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

Profit & loss account (1Q 19)

In i l l ion f e ( M. € ) m s o uro	1Q 19 ort ed by rep BP I	Co lida tion tan dar dis atio nso , s n and t ch e in FV ne ang adj ust nts de rive d f the me rom f b bin atio usi com n o nes ses	1Q 19 BP I ntr ibu tio n t co o CA BK Gr ou p	BP I t se gm en	Inv tm ts es en t se gm en
Ne t in in ter est com e	10 7	( ) 9	98	99	( 1)
Div ide nd s
ted Equ ity in ac co un co me	9	( 1)	8	4	4
t fe d c Ne mi ssi es an om on s	60		60	60
Tra din inc g om e	( 1)	7	6	6
her tin inc e & Ot op era g om ex pen ses	3	( 3)
inc Gro ss om e	17 8	( ) 6	17 2	16 9	3
Rec ing tin urr op era g e xp ens es	( 1) 11	( 4)	( 5) 11	( 5) 11
rdi tin Ext rao na ry op era g e xp ens es
‐im irm t in Pre pa en com e	67	( ) 10	57	54	3
ith Pre ‐im irm t in rdi t e xtr pa en com e w ou ao nar y e xp en ses	67	( ) 10	57	54	3
irm lo nd oth vis ion Im ent pa sse s a er pro s	1	22	23	23
/ los di ls & her Ga ins ot ses on spo sa s	1	1	2	2
Pre x in ‐ta com e	69	13	82	79	3
Inc e ta om x	( ) 20	( 1)	( ) 21	( ) 21
fit for th eri od Pro e p	49	12	61	58	3
her Mi rity in s & ter est ot no
t in Ne com e	49	12	61	58	3

The difference between the earnings released by BPI and the earnings attributable to CaixaBank Group is largely a result of consolidation adjustments, standardisation adjustments and the net change in the fair value adjustments generated from the business combination.

Additionally, the BPI contribution to CaixaBank Group results is broken down into BPI segment and Investments segment contributions, the latter including the contributions from BFA and BCI.

Loan portfolio & customer funds(Mar.19)

Ma h 1 9 rc of o ( M.€ ) In m illio ns eur	Re rte d b po y BP I	Ad jus tme nts	BP I co ntr ibu tio n t o ( t) CA BK Gr BP I se ou p gm en
d a dv Loa to sto t ns an an ces cu me rs, ne	23 02 5	( ) 43 2	22 59 3
l cu r fu nd To ta sto me s	33 62 2	( ) 4 2 14	29 40 8

The difference between BPI reported figures and those reported by CaixaBank for the BPI segment can largely be explained:

• in Loans and advances to customers (net), by the associated fair value adjustments generated by the business combination at 31 March 2019;
  • in Customer funds, by the liabilities under insurance contracts and their fair value adjustments at 31 March 2019, as generated by the business combination, which have been reported in the banking and insurance business segment of CaixaBank following the sale of BPI Vida to VidaCaixa de Seguros y Reaseguros.

Alternative Performance Measures – reconciliation of the income statement

The European Securities and Markets Authority (ESMA) published on 5 October 2015 a set of guidelines relating to the disclosure of Alternative Performance Measures by entities (ESMA / 2015 / 1415). These guidelines are to be obligatorily applied with effect from 3 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 the object of disclosure, as required by the ESMA guidelines.

In the current presentation, the information previously disclosed is inserted by way of cross‐reference. A summarized list of the Alternative Performance Measures is presented next.

d de ign ion do d Ac at te ron ym s a n s s a p		its, ion l s ign d a b bre via ion Un t t co nv en a s a n s
td y	‐da Yea r‐to te	€, Eur EU R os,	eur os
yoy	Yea r‐o n‐y ear	M. €, M. eu ros	mil lion eu ros
qo q	rte ter qua r‐o n‐q uar	th. h. e €, t uro s	tho nd usa eur os
RC L	las sifi ed Rec		cha nge
		n.a	ilab le not ava
ECB	Eur Cen l Ba nk tra ope an	0, –	nul l or ele irr t van
Bo P	k o f P l Ban ort uga	Liq	liqu id
CM VM	issã o d ado of Val obi liár ( rke n) Com o M s M ios Sec urit ies Ma t C mis sio erc ore om	vs.	ver sus
AP M	Alt erf ativ e P e M ern orm anc eas ure s	b.p	bas is p oin ts
IM M	Int erb ank M Ma rke t one y	p.p	oin tag t per cen e p
T1	Tie r 1	E	Est ima te
CET 1	Co Equ ity Tie r 1 mm on	F	For st eca
RW A	Ris k w eig hte d a ts sse
RO TLT	ted lon fin ing tio Tar ‐te ge ger rm re anc op era ns
LCR	uid Liq ity io rat cov era ge

Units, conventional signs and abbreviations

Annexes

Alternative Performance Measures – reconciliation of the income statement

Reconciliation of the income statement

The following table presents, for the consolidated income statement, the reconciliation of the structure used in the current document (Banco BPI Consolidated results in the 1st quarter 2019) with the structure used in the financial statements and respective notes of the 2018 Annual Report.

Consolidated income statement

lts' Stru sed in t he R Pre tati ctu re u esu sen on	Ma r.19	Ma r.19	fin Stru d in the ial s and tive ctu nte tate nts not re p rese anc me res pec es
Net int st in ere com e	106 .8	106 .8	Net int st in ere com e
Div ide nd i nco me	0.1	0.1	Div ide nd i nco me
ed Equ ity a inco unt cco me	9.1	9.1	Sha f pr ofit /(lo ss) of e ed f the tho d ntit ies sing uity unt re o acco or u eq me
fee and mis sion inc Net com om e	60. 4	65.5	and mis sion inc Fee com om e
		(5.1 )	and Fee mis sion com exp ens es
ns/ Gai (los ) on fin ial a nd l iabi litie d ot her ts a ses anc sse s an	(1.1 )	0.0	ns/ Gai (los ) on de gnit ion of f inan cial and liab iliti d at fai lue thro ugh fit o r lo ets ot m net ses reco ass es n eas ure r va pro ss,
		(1.0 )	ns/ (los ) on fin ld f Gai ial a nd l iabi litie s he rad ing, ts a or t t ses anc sse ne
		(3.5 )	ns/ Gai (los ) on fin ial a ot d esig ed f rad ing pul ily m d at fai lue thro ugh fit o r lo ts n nat or t net ses anc sse com sor eas ure r va pro ss,
		0.9	ns/ (los ) fro Gai m h edg ntin et ses e ac cou g, n
		2.5	han ge d iffe (ga in/l ), n Exc et ren ces oss
Oth atin g in d ex er o per com e an pen ses	2.9	7.6	Oth atin g in er o per com e
		(4.8 )	Oth atin er o per g ex pen ses
Gro ss i nco me	178 .1	178 .1	GRO SS I NCO ME
Staf f ex pen ses	(60. 9)	(60. 9)	Staf f ex pen ses
Oth dm inis ive trat er a exp ens es	(37. 0)	(37. 0)	Oth dm inis ive trat er a exp ens es
d am Dep reci atio orti sati n an on	(13. 1)	(13. 1)	d am Dep reci atio orti sati n an on
Ope rati ng e xpe nse s	(11 1.1)
Net ting inc op era om e	67. 0
airm los and oth isio Imp ent ses er p rov ns	1.2	(0.1 )	visi l of visi Pro ons or rev ersa pro ons
		1.3	/(re Imp airm sal) of imp airm los fina ncia l as d at fai lue thro ugh fit o r lo ent ent sets t m ver ses on no eas ure r va pro ss
nd l her Gai es i n ot ets ns a oss ass	1.3	1.0	(‐) r rsal of d fo the tho d Imp airm imp airm itie ing uity ent ent ent nte or eve on s ac cou r us eq me
		1.7	/(re Imp airm sal) of imp airm ‐fin ial a ent ent ts ver on non anc sse
		(1.5 )	ns/ (los ) on de of n fina l as Gai gnit ion ncia sets t ses reco on‐ , ne
		0.1	fit/ (los s) f and dis al g lass ifie d as he ld f ale alif ying disc inu ed o atio ns ( ) Pro t as sets not ont net rom no n‐cu rren pos rou ps c or s qu as per
e be fore Net inc inc e ta om om x	69. 5	69.5	FIT/ (LO SS) PRO BEF ORE TAX FRO M C ON TIN UIN G O PER ATI ON S
Inco tax me	(20. 3)	(20. 3)	r in late d to fit o r lo ss f tinu ing rati Tax exp ens e o com e re pro rom con ope ons
e fr Net inc tinu ing rati om om con ope ons	49. 2	49.2	FIT/ (LO SS) PRO AFT ER T AX FRO M C ON TIN UIN G O PER ATI ON S
inc e fr dis tinu ed o atio Net om om con per ns	0.0	0.0	fit/ (los s) a fter fro m d isco ntin ued tion Pro tax op era s
Inco ibu tab le t lling int attr ntro sts me o no n‐co ere	0.0	0.0	fit/ (los s) fo Pro r th riod ribu tab le t llin g in att ntro tere sts e pe o no n‐co
inc Net om e	49. 2	49.2	FIT/ (LO SS) PRO FOR TH E PE RIO D A TTR IBU TAB LE T O O WN ERS OF TH E PA REN T

Alternative Performance Measures

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

Adjusted Operating expenses = Staff expenses excluding cost with early retirements and voluntary terminations and (only in 2016) gains with the revision of the Collective Labour Agreement (ACT) + Other administrative expenses (recurring) + 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 / Gross income

Adjusted Operating expenses‐to‐commercial banking gross income 1) = Operating expenses, excluding costs with early‐retirements and voluntary terminations and (only in 2016) gains with the revision of the Collective Labour Agreement (ACT) / Commercial banking gross income

Return on Equity (ROE) 1) = Net income for the period / Average value in the period of shareholders' equity attributable to BPI shareholders after deduction of the fair value reserve (net of deferred taxes) on financial assets available for sale

Return on Tangible Equity (ROTE) 1) = Net income for the period / Average value in the period of shareholders' equity attributable to BPI shareholders after deduction of intangible net assets and goodwill on 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 resources = Deposits + Capitalisation insurance of fully consolidated subsidiaries + Participating units in consolidated mutual funds

• Deposits = Sight and other deposits + Term and savings deposits + Accrued interest + Retail bonds (Fixed / variable rate bonds and structured products placed with Customers + Deposits certificates + Subordinated bonds placed with Customers)
• Capitalisation insurance of fully consolidated subsidiaries (BPI Vida e Pensões sold on Dec.17) = Unit links capitalisation insurance and "Aforro" capitalisation insurance and others (Technical provisions + Guaranteed rate and guaranteed retirement capitalisation insurance)

Note: The amount of on‐balance sheet Customer resources is not deducted from the applications of off‐balance sheets products (mutual funds and pension plans) in on‐balance sheet products.

Assets under management = Mutual funds + Capitalisation insurance + Pension plans

• Mutual 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 + 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 pension plans of BPI Group)

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

(ii) Following the sale of BPI Vida e Pensões in Dec.17, the capitalisation insurance placed with BPI's Customers are recorded off balance sheet, as "third‐party capitalisation insurance placed with Customers", and pension funds management is excluded from BPI's consolidation perimeter.

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, the cases in which it will be clearly marked.

Alternative Performance Measures

BALANCE SHEET AND FUNDING INDICATORS (continuation)

Subscriptions in public offerings = Customers subscriptions in third parties' public offerings

Total Customer Resources = On‐balance sheet Customer Resources + Assets under management + Subscriptions in public offerings

Gross loans to customers = Gross loans and advances to customers (financial assets at amortized cost), excluding other assets (guarantee accounts and others) + Gross debt securities issued by Customers (financial assets at amortized 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

Impairment losses and provisions for loans and guarantees = Impairments or impairments reversal from financial assets not measures at fair value through profit or loss relating to loans and advances to customers and debt securities issued by Customers (financial assets at amortised cost), before deducting recovery of loans, interest and expenses + provisions or provisions reversals for commitments and guarantees

Cost of credit risk = Impairment losses and provisions for loans and guarantees, net ‐ Recovery of loans, interest and expenses

Cost of credit risk as % of the loan portfolio 1)= (Impairment losses and provisions for loans and guarantees, net ‐ Recovery of loans, interest and expenses) / 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 ratio = Ratio of non‐performing exposures (NPE) according to EBA criteria (prudential perimeter)

Coverage of NPE = [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)

Coverage of NPE by impairments and associated collateral = [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 NPE ] / Non‐performing exposures (NPE)

Non performing loans ratio ("crédito duvidoso"; Bank of Spain criteria) = Non performing loans (Bank of Spain criteria) / (Gross customer loans + guarantees)

Non performing loans (Bank of Spain criteria) 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 (Bank of Spain criteria)

Coverage of non performing loans (Bank of Spain criteria) by impairments and associated collateral = [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 (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

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, the cases in which it will be clearly marked.

BANCO BPI, S.A. Head Office: Rua Tenente Valadim, no. 284, Porto, Portugal Share capital: € 1 293 063 324.98 Registered in Oporto C.R.C. and corporate body no. 501 214 534