Banco Comercial Portugues

Investor Presentation • Oct 31, 2025

3Q25 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.

MORE GROWTH AND INNOVATION

• Expressive and consistent business growth: loans +8% yoy and Customer resources +10% yoy
• Net profit in Portugal of 362 M.€ (-5%); Banco BPI net profit of 389 M.€ (-12%)
• Asset quality at historical highs: NPE of 1.2%, covered at 146%
• Successful initial public offering of BFA: BPI sells 14.75% stake, with demand exceeding offer 5x, in the largest deal in Africa in 2025.

BPI RESULTS

YTD in September 2025

Commercial activity in Portugal

Loans

Δ γογ

Deposits △ yoy +2.6 Bn.€ +9%

Gross income

△ yoy -9%

vity in

+8%

Total customer resources +3.9 Bn.€ +10%

Net interest income -11%

Risk and capitalisation

NPE ratio (EBA criteria)

Coverage

1.2%

Cost of Credit Risk 0.09%

CET1 > 14.3%

(LD/ Correction)

146%

(as % of loans and quarantees; last 12 months)

Cost-to-income in

T1 > 15.7%

Total > 17.8%

Net Profit and profitability

Profit in Portugal 362 M.€

Banco BPI profit

389 M.€

(by impairments and collaterals)

$\Delta$ yoy

-12%

-5%

40%

(last 12 months)

Portugal

Recurrent ROTE in Portugal

16.4%

(last 12 months)

PORTUGUESE ECONOMY OUTPERFORMS THE EURO AREA

• Portugal's GDP 10% above pre-Covid levels
• Converging with the Euro Area

▪ Stronger structural base supporting growth

▪ Portugal slows down in 2025, but will continue to grow above the European average

Research.

EMPLOYMENT AT RECORD HIGHS

Source: INE.

INFLATION AND INTEREST RATES CLOSE TO 2%

Source: BPI, Eurostat, Bloomberg.

HOUSING: INSUFFICIENT SUPPLY DRIVES UP PRICES

IN SUMMARY

Portuguese Economy

• ❑ Public and private sector debt (as % of GDP) on a downward path
• ❑ Labour market remains strong, with unemployment rate stable at historic lows
• ❑ Household disposable income continues to grow, supporting consumption and savings
• ❑ The Recovery and Resilience Plan entering its final phase should favour investment
• ❑ Inflation in line with ECB target; interest rates expected to remain stable around 2%
• ❑ Imbalance between housing supply and demand continues to put upward pressure on prices

NET PROFIT OF 389 M.€ FROM JAN. TO SEP.25

(last 12 months)

HIGHER VOLUMES FAIL TO MAKE UP FOR LOWER RATES

• 1) Fee and commission income stable, excluding a one-off 16 M.€ gain in 9M24.
• 2) Includes reversal of Banking Sector Additional Solidarity Levy contributions paid in previous years (18 M.€).

LOANS INCREASED 8% YOY

Loans to Customers by segment
Gross portfolio, in Bn.€	Sep 24	Sep 25	YoY	YtD
Loans to individuals	16.5	18.1	10%	8%
Mortgage loans	14.9	16.7	12%	10%
Other loans to individuals	1.6	1.4	-9%	-7%
Loans to companies	11.5	12.1	5%	1%
Public sector	2.3	2.3	1%	1%
Total loans	30.3	32.6	8%	5%
Loan portfolio net of	29.8	32.1	8%	5%
impairments

MORTGAGE LOANS: GROWTH AND MARKET SHARE GAIN

Best Fixed Rate

LOANS TO SMEs GREW 10%

SUPPORTING OUR CLIENTS' SUSTAINABLE TRANSITION

BPI AWARDS TO SUPPORT THE ECONOMY AND INNOVATION

National Tourism Awards

7th edition

Winners to be announced in November

National Agricultural Awards

14th edition

3rd

edition

Applications running until 31 October

Woman Entrepreneur 2025 BPI Awards

8th edition

Winner: Sandra Tavares da Silva, Wine & Soul CEO

COTEC-BPI SMEs Innovation Awards

21st edition

Winners to be announced in November

National Innovation Awards

17 awards attributed

EmpreendeXXI Awards

7th edition

National winners: Coimbra FiberSight and Faro expressTC

CUSTOMER RESOURCES INCREASED 10% yoy

Customer Resources
In Bn.€	Sep 24	Sep 25	YoY	YtD
Customer deposits	29.5	32.1	9%	5%
Off-balance sheet resources	9.2	10.5	14%	11%
Total	38.7	42.6	10%	7%

MORE CLIENTS AND MORE DIGITAL SALES

Subscription to digital channels (Sep.2025)

(Sep.2025)

93% Digital individual clients actively using the BPI App

More Digital Clients

+37 th. ( YOY)

BPI App active users

1 million

Digital Banking regular users

More Digitally-supported sales

(Sep.24 to Sep.25)

31% of focus products¹ sales to individual clients are digitally initiated

INVESTMENT IN YOUNG TALENT

COSTS UNDER CONTROL

CREDIT GROWS WITH LOWEST RISK EVER

COMFORTABLE CAPITAL BUFFER

Capital buffer vs. minimum capital requirements

(Maximum Distributable Amount - MDA Buffer)

4.0 p.p.

Sep. 25

SUCCESS OF BFA INITIAL PUBLIC OFFERING

The order book was 5 times subscribed, reaching the maximum price

• The results of BFA's initial public offering were released by BODIVA on 26 September
• All shares in the offering (29.75% of BFA's share capital) were placed at the maximum price (49 500 AKZ per share, i.e. approx. €46.5)
• Demand far exceeded the offer (ratio of 506%), with an allocation of approx. 20%
• Shares admitted to trading on 30 September.

Selling (AKZ / share) price	49 500
shares sold #	4 462 500
Total (M AKZ) amount	220 894
Demand / Supply ratio	506 37%
Allotment ratio	19 81%
Demand: total of shares quantity	22 596 643
Demand: total (M AKZ) amount	1 118 124

Results of BFA IPO

Source: BODIVA

BPI sold 14.75% of BFA

• BPI obtains proceeds in AKZ corresponding to 103 M.€ 1)
• Increase in value of the stake sold since June 2025 (9 M.€) taken directly to equity 2)
• Impact on CET1 regulatory capital is neutralised until the proceeds from the sale are received in Portugal, following the ECB's recommendation on dividends pending receipt
• BPI's stake in BFA decreased to 33.35%, valued at 232 M.€

SUCCESS OF BFA INITIAL PUBLIC OFFERING

• Largest deal in Africa in 2025
• Largest deal in Angola ever
• The deal was placed in all provinces of Angola
• It involved all the financial intermediaries in Angola
• High capital dispersion: 8.5 thousand new shareholders
• International entities involved rank the deal at best practices level

BFA shareholders' structure after IPO

Unitel	36.90%
Banco BPI	33.35%
float Free	29.75%

COMMITMENT TO SOCIAL TRANSFORMATION

Beneficiaries across the country

• 2 430 (in 2025)
• 111 600 (since the start of the programme)

BPI Volunteering Service Programme BPI | "la Caixa" Foundation joint action

Strategic pillars: Social, Research and Scholarships, Culture

^≈50 M.€ in 2025

IMPROVING THE LIFE QUALITY OF SOCIALLY VULNERABLE PEOPLE

5 M.€ in 2025

BPI "la Caixa" Foundation Awards

• Infância - Children and adolescents (since 2019)
• Solidário - Young people and adults (since 2016)
• Seniores - People aged 65 and over (since 2013)
• Capacitar People with disabilities (since 2010)

Since 2010:

39.8 M.€ 1 232 projects 268 th.

people in social vulnerability situations supported

SUPPORTING LOCAL PROJECTS THROUGH THE COMMERCIAL NETWORKS

2 M.€ in 2025

Decentralised Social Initiative

• Children, adolescents and young people
• People aged 65 and over
• People with disabilities
• Work integration
• Health, illness or permanent disability
• Interculturality and social cohesion

Since 2020:

8.2 M.€

1 341 projects

307 th. beneficiaries

Madeira 38

RECOGNITION

BEST BANK FOR 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

BEST PRIVATE BANK FOR DIGITALLY EMPOWERING RELATIONSHIP MANAGERS

BANCO BPI RESULTS

Unaudited accounts

ANNEXES

03

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 04

BPI RATINGS VS. PEERS As of 28 october 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	Bank 2 A (low)
I	Bank 2 BBB+	Bank1 Bank2 Bank3 Bank5 Baa1	BBB+	BBB (high)
	BBB	Baa2	Bank 2 Bank 5 BBB	BBB
	BBB	Bank 4 Baa3	Bank 4 BBB	Bank 4 BBB (low)
t	BB+	Ba1	BB+	BB (high)
n e	BB	Ba2	BB	BB
m st e	BB	Ba3	BB	BB (low)
d e a v r n	B+	B1	B+	B (high)
g I - n	B	B2	B	B
o N	B	B3	B	B (low)
	CCC+	Caa1	CCC+	CCC (high)

S&P: On 17 Sep. 25, S&P upgraded the rating of BPI to A (from 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 10 Oct. 25 reaffirmed BPI rating (A-), improving the Outlook to positive, and also reaffirmed the rating on deposits and senior debt (A).

DBRS: on 11 Jun.25 upgraded BPI's mortgage covered bond rating to AA (high).

INCOME STATEMENT OF THE ACTIVITY IN PORTUGAL

In M €	Sep 24	Sep 25	%
Net interest income	736 7	657 0	-11%
Dividend income	8 3	1 7	-14%
Equity accounted income	3 15	14 7	-4%
fee and commission income Net	243 5	226 6	-7%
Gains/(losses) financial and liabilities and other assets on	19 1	11 4	-40%
Other and operating income expenses	-22 7	-2 8	88%
Gross income	000 2 1	914 0	-9%
Staff expenses	-186 3	-191 2	3%
Other administrative expenses	-141 8	-140 8	-1%
and Depreciation amortisation	-47 8	-50 5	6%
Recurring operating expenses	-375 9	-382 5	2%
Non-recurrent costs	-39 9	-0 3	-99%
Operating expenses	-415 8	-382 8	-8%
operating income Net	584 4	531 2	-9%
Impairment losses and other provisions	-26 5	-28 9	9%
Gains and losses in other assets	2 3	0 6	-73%
Net income before income tax	560 1	503 0	-10%
Income tax	-180 1	-141 2	-22%
income Net	380 0	361 8	-5%
income Recurrent net	407 5	362 0	-11%

BALANCE SHEET OF THE ACTIVITY IN PORTUGAL

LOAN PORTFOLIO AND CUSTOMER RESOURCES

Loan portfolio					Customer resources
portfolio in Gross M € ,	Sep 24	Sep 25	YoY	YtD
individuals Loans to	16 462	18 128	10%	8%
loans Mortgage	887 14	16 693	12%	10%
Other loans individuals to	1 575	435 1	-9%	-7%
companies Loans to	11 517	12 111	5%	1%
Public sector	2 296	2 330	1%	1%
Total loans	30 276	32 569	8%	5%
portfolio of Loan net impairments	29 772	32 138	8%	5%

	Sep	Sep
Customer deposits	29 500	32 056	9%	5%
Off-balance sheet resources	9 210	10 529	14%	11%
Total	38 710	42 584	10%	7%

BANCO BPI INCOME STATEMENT

€ In M	Sep 24	Sep 25	%
Net interest income	738 4	658 5	-11%
Dividend income	53 5	56 7	6%
accounted Equity income	43 3	31 7	-27%
fee and Net commission income	243 5	226 6	-7%
Gains/(losses) financial and liabilities and other assets on	12 4	6 5	-48%
Other and operating income expenses	-26 5	-8 4	69%
Gross income	064 6 1	971 6	-9%
Staff expenses	-186 3	-191 2	3%
Other administrative expenses	-141 8	-141 3	0%
Depreciation and amortisation	-47 8	-50 5	6%
Recurring operating expenses	-375 9	-383 0	2%
Non-recurrent costs	-39 9	-0 3	-99%
Operating expenses	-415 8	-383 3	-8%
operating income Net	648 8	588 3	-9%
losses and other Impairment provisions	-26 5	-28 9	9%
and losses other Gains in assets	2 3	-32 0	-
income before income Net tax	624 6	527 3	-16%
Income tax	-180 5	-138 0	-24%
income Net	1 444	389 3	-12%

BANCO BPI BALANCE SHEET

In M.€	Dec 24	Sep 25
ASSETS
Cash and cash balances central banks and other demand deposits at	3 286	1 771
Financial held for trading fair value through profit or loss and fair value assets , at at through other comprehensive income	1 480	1 736
Financial amortised assets at cost	35 346	37 414
Of which: Customers Loans to	30 571	32 138
in joint and associates Investments ventures	247	216
Tangible assets	192	174
Intangible assets	112	104
Tax assets	270	257
and disposal groups classified as held for sale Non-current assets	14	13
Other assets	124	217
Total assets	072 41	901 41
LIABILITIES
Financial liabilities held for trading	57	48
Financial liabilities amortised at cost	36 146	37 066
- Central Banks and Credit Deposits Institutions	718	783
Deposits - Customers	30 501	32 056
Debt issued securities	694 4	3 977
Of which: subordinated liabilities	434	426
Other financial liabilities	232	250
Provisions	32	27
Tax liabilities	258	166
Other liabilities	567	601
Total Liabilities	37 061	37 907
Shareholders' attributable the shareholders of equity to BPI	011 4	3 994
controlling Non interests	0
Total Shareholders' equity	4 011	3 994
		41 901

COVERAGE OF PENSION LIABILITIES

M €	24 Dec	Sep 25
Total liability service past	1 763	1 658
funds Pension net assets	1 758	1 684
Level of of pension liabilities coverage	100%	102%
Pension fund (YtD annualised) return , non	3 4%	-0 5%
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	Sep 24	Sep 25
/ Gross income ATA	3.6%	3.1%
Net income before income and income attributable non-controlling interests / ATA tax to	2.1%	1.7%
income before income and income attributable non-controlling interests / average shareholders' equity Net tax to (including non-controlling interests)	21.7%	18.1%
income 1) Staff expenses / Gross	17.5%	19.7%
income 1) Operating expenses / Gross	35.3%	39.4%
Loans (net) deposits ratio to	101%	101%
Funding and liquidity indicators	Sep 24	Sep 25
Deposits 2) Loans /	98%	98%
funding Net stable ratio (NSFR)	138%	139%
Liquidity (LCR) coverage ratio	219%	175%
average 3) Liquidity (LCR) month coverage ratio - 12	204%	199%
forborne NPE ratio and (according the EBA criteria) to	Sep 24	Sep 25
Non-performing (M .€) exposures - NPE	541	487
NPE ratio	1.4%	1.2%
NPE coverage by impairments	95%	90%
coverage by and collaterals NPE impairments	152%	146%
NPE 4) Ratio of forborne included in not	1.1%	0.6%
"Crédito duvidoso" (non-performing loans) (according Bank of Spain criteria) to	Sep 24	Sep 25
.€) 5) "Crédito duvidoso" (M	510	513
"Crédito duvidoso" ratio	1.6%	1.4%
"Crédito duvidoso" coverage by impairments	101%	86%
"Crédito duvidoso" coverage by impairments and collaterals	154%	141%

⁴⁾ On Sep. 2025, the forborne was 435 M.€ (forborne ratio of 1.0%), of which 255 M.€ was performing loans (0.6% of the gross credit exposure) and 180 M.€ was included in NPE (0.4% of the gross credit exposure).

¹⁾ Excluding early-retirement costs.

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 Sep.25: Liquidity reserves (7 771 M.€); Total net outflows (3 906 M.€).

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

Profit & loss account

	A a wawawta d	BPI	Business segment
Sep 25 (M.€)	As reported by BPI	contribution to CABK Group	ВРІ	Corporate Center
Net interest income	658	654	638	16
Dividends	57	57	7	50
Equity accounted income	32	32	15	17
Net fees and commissions	227	227	227
Trading income	6	11	16	(5)
Other operating income & expenses	(8)	(6)	(0)	(6)
Gross income	972	974	901	73
Operating expenses	(383)	(385)	(385)
Extraordinary operating expenses	(0)
Pre-impairment income	588	589	516	73
Impairment losses on financial assets	(29)	(29)	(29)
Other impairments and provisions	0	(0)	(0)
Gains/losses on disposals & others	(32)	(32)	1	(33)
Pre-tax income	527	528	488	40
Income tax	(138)	(139)	(137)	(2)
Net income	389	389	351	38

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.

Loan portfolio & customer resources

September 2025 (M.€)	As reported by BPI	Adjustments	BPI contribution to CABK Group (BPI segment)
Loans and advances to customers, net	32 138	(104)	32 035
Total customer funds	42 584	(5 191)	37 394

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.

YtD	Year-to-date change
YoY	Year-on-year change
QoQ	quarter-on-quarter change
ECB	European Central Bank
BoP	Bank of Portugal
CMVM	Securities Market Commission
APM	Alternative Performance Measures
MMI	Interbank Money Market
T1	Tier 1
CET1	Common Equity Tier 1
RWA	Risk weighted assets
TLTRO	Targeted longer-term refinancing operations
LCR	Liquidity coverage ratio

Adopted acronyms and designations Units, conventional sings and abbreviations

€, Euros, EUR euros th.€, th.euros thousand euros M.€, M.euros million euros Bn.€, Bi.€ billion euros change n.a. not available 0, – null or irrelevant vs. versus b.p. basis points p.p. percentage points E Estimate F Forecast

Reconciliation of Banco BPI profit & loss account structure

used in the Results' Presentation Structure	Sep 25	Sep 25	presented in the financial and respective Structure statements notes
Net interest income	658.5	658.5	Net interest income
Dividend income	56.7	56.7	Dividend income
Equity accounted income	31.7	31.7	Share of the profit or (-) loss of investments in subsidiaries, joint and associates accounted for using the equity method ventures
fee Net and commission income	226.6	254.9	Fee and commission income
		-28.3	and Fee commission expenses
	6.5	1.2	or (-) losses on derecognition of financial and liabilities measured fair value through profit or loss, Gains assets not at net
Gains/(losses) on financial and liabilities and other assets		3.4	or (-) losses on financial and liabilities held for trading, Gains assets net
		-7.3	Gains or (-) losses on non-trading financial mandatorily fair value through profit or loss, assets at net
		4.7	Gains or (-) losses from hedge accounting, net
		4.4	Exchange differences [gain or (-) loss], net
Other operating income and expenses	-8.4	35.7	Other operating income
		-44.1	Other operating expenses
Gross income	971.6	971.6	GROSS INCOME
Staff expenses	-191.5	-191.5	Staff expenses
Other administrative expenses	-141.3	-141.3	Other administrative expenses
and Depreciation amortisation	-50.5	-50.5	Depreciation
Operating expenses	-383.3	-383.3	Administrative expenses and depreciation
operating income Net	588.3	588.3
Impairment losses and other provisions	-28.9	1.2	Provisions or (-) reversal of provisions
		-30.1	Impairment or (-) reversal of impairment on financial measured fair value through profit or loss assets not at
Gains and losses in other assets	-32.0	-32.6	Impairment or (-) reversal of impairment of investments in subsidiaries, joint and associates ventures
		0.0	Impairment or (-) reversal of impairment on non-financial assets
		0.1	Gains or (-) losses on derecognition of non financial assets, net
		0.6	Profit from groups classified for qualifying or (-) loss and disposal as held sale as discontinued operations non-current assets not
income before income Net tax	527.3	527.3	PROFIT OR (-) LOSS BEFORE FROM CONTINUING OPERATIONS TAX
Income tax	-138.0	-138.0	related profit or loss from Tax expense or income to continuing operations
Net income from continuing operations	389.3	389.3	PROFIT OR (-) LOSS AFTER TAX FROM CONTINUING OPERATIONS
Net income from discontinued operations			Profit or (-) loss after from discontinued operations tax
Net income	389.3	389.3	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 1) ratio)	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

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.

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.

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.

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

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