CTT-Correios de Portugal

Investor Presentation • Nov 4, 2025

CAPITAL MARKETS DAY 2025

4 NOVEMBER 2025

Strategy 2025-28

Inspired by our history to deliver our future

Disclaimer

Disclaimer

This document has been prepared by ctt –Correios de Portugal, S.A. (the "Company" or "ctt") exclusively for use during the presentation of the Capital Markets Day 2025 (CMD). As a consequence, thereof, this document may not be disclosed or published, nor used by any other person or entity, for any other reason or purpose without the express and prior written consent of ctt. This document (i) may contain summarised information and be subject to amendments and supplements, and (ii) the information contained herein has not been verified, reviewed nor audited by any of the Company's advisors or auditors.

Except as required by applicable law, ctt does not undertake any obligation to publicly update or revise any of the information contained in this document. Consequently, the Company does not assume liability for this document if it is used for a purpose other than the above. No express or implied representation, warranty or undertaking is made as to, and no reliance shall be placed on, the accuracy, completeness or correctness of the information or the opinions or statements expressed herein. Neither the Company nor its subsidiaries, affiliates, directors, employees or advisors assume liability of any kind, whether for negligence or any other reason, for any damage or loss arising from any use of this document or its contents. Neither this document nor any part of it constitutes a contract, nor may it be used for incorporation into or construction of any contract or agreement.

This document has an informative nature and does not constitute, nor must it be interpreted as, an offer to sell, issue, exchange or buy any financial instruments (namely any securities issued by ctt or by any of its subsidiaries or affiliates), nor a solicitation of any kind by ctt, its subsidiaries or affiliates. Distribution of this document in certain jurisdictions may be prohibited, and recipients into whose possession this document comes shall be solely responsible for informing themselves about and observing any such restrictions. Moreover, the recipients of this document are invited and advised to consult the public information disclosed by ctt on its website (www.ctt.pt) as well as on the Portuguese Securities Market Commission's website (www.cmvm.pt). In particular, the contents of this presentation shall be read and understood in light of the financial information disclosed by ctt, through such means, which prevail in regard to any data presented in this document. By attending the meeting where this presentation is made and reading this document, you agree to be bound by the foregoing restrictions.

Forward-looking Statements

This presentation contains forward-looking statements. All the statements herein which are not historical facts, including, but not limited to, statements expressing our current opinion or, as applicable, those of our directors regarding the financial performance, the business strategy, the management plans and objectives concerning future operations and investments are forward-looking statements. Statements that include the words "expects", "estimates", "foresees", "predicts", "intends", "plans", "believes", "anticipates", "will", "targets", "may", "would", "could", "continues" and similar statements of a future or forward-looking nature identify forward-looking statements.

All forward-looking statements included herein involve known and unknown risks and uncertainties. Accordingly, there are or will be important factors that could cause our actual results, performance or achievements to differ materially from those indicated in these statements. Any forward-looking statements in this document reflect our current views concerning future events and are subject to these and other risks, uncertainties and assumptions relating to the results of our operations, growth strategy and liquidity, and the wider environment (specifically, market developments, investment opportunities and regulatory conditions).

Although ctt believes that the assumptions beyond such forward-looking statements are reasonable when made, any third parties are cautioned that forward-looking information and statements are subject to various risks and uncertainties, many of which are difficult to predict and generally beyond the control of ctt, what could cause the models, objectives, plans, estimates and /or projections to be materially reviewed and /or actual results and developments to differ materially from those expressed in, or implied or projected by, the forward-looking information and statements.

Forward-looking statements (in particular, the objectives, estimates and projections as well as the corresponding assumptions) do neither represent a commitment regarding the models and plans to be implemented, nor are they guarantees of future performance, nor have they been reviewed by the auditors of ctt. You are cautioned not to place undue reliance on the forward-looking statements herein.

All forward-looking statements included herein speak only as at the date of this presentation. Except as required by applicable law, ctt does not undertake any obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

CMD 2025

Speakers

João Bento CEO

Guy Pacheco CFO

João Sousa CCO

Francisco Barbeira CEO banco ctt

Agenda for today Services & Q&A Solutions Ambition 01 Group Vision & Strategy ctt

+500 years of heritage

Honouring a legacy of trust, innovation, and connection between people and business

2022-25: action guided by 5 strategic drivers

Focused execution towards growth and efficiency

Scale-up express & parcels

Achieved formidable Iberian position, by expanding leadership in Portugal and consolidating position in Spain

The fastest growing player (23% 21-24 CAGR)

Leveraged upgrade of USO contract

Deployed the USO contract, with price, quality and density as operational value levers sustaining profitability

Bank breakthrough and acceleration

Built a customer base of >800k accounts, doubled deposits since 21, extended credit to 2B€, and achieved PBT of ~26M€ in 24

Partnered with Generali to expand bancassurance

Operational and cost efficiency

Optimised operations and cost control, enabling an EBIT margin growth from 7.1% in 21 to 7.7% in 24

Disciplined capital allocation

Meaningful dividends and opportunistic buybacks (SBB 22-25 of 66.5M€)

Acquired Cacesa to expand e-commerce value chain presence

Agreed Iberian JV with DHL

…while remaining true to our core pillars

Sustained by our commitment to People, Planet and Governance

Driving decarbonisation

Reduced carbon footprint:

Major investment in fleet electrification and PV generation and self-consumption

Reducing 47% carbon emission per E&P object (21-24)

People-first mindset

Stuck to strong heritage of proximity:

By creating employment, improving training and upgrading compensation

By investing in social impact programmes for the community:

+22x volunteering hours

Responsible governance

Strengthened ESG governance:

With a dedicated Sustainability Committee, and a new Code of Ethics

Expanded ESG-linked incentives

Advanced notably on stakeholder-focused sustainability reporting

A journey of strong transformation…

Developing – growing, protecting, changing – our synergistic Business Units

...produced the emergence of an e-commerce logistics player

Organised around 3 synergistic Business Units, deriving a new and simpler reporting structure

A business portfolio well balanced with market dynamics

We have obsessively pursued excellence and innovation

Solid performance, market recognition and a relentless commitment to our Vision, Mission and Values

Developed scale in pursuing Iberian leadership

Iberian operational capacity

D+1 Iberian coverage 100% operation centres 77

parcels/hour of sorting capacity 147k

parcels/day delivered >580k

In 2024

142M parcels delivered

~1M parcels delivered on the peak day

ctt network ~20k collecting points, including >1,100 lockers Retail Network 566 ctt stores 1826 ctt posts 4727 Agents

Digital channels

>3.5M registered users

Environment

~50%¹ eco-friendly last mile vehicles

People

~14k employees

Reinforcing a consistently trusted brand

NPS >50

Consistently performed on operational targets

Exceeding CMD 2022 Goals

• Expanded market share in PT and SP
• Increased revenues in PT and SP
• Sustained solid EBIT margins in Iberia
• Delivered consistently high NPS (>50)

Mail & Services

• Stabilised mail revenues via price and offer diversification
• Accelerated digital offer (e.g., e-carta)
• Boosted bus. solutions revenue (3.5x vs. 2019)
• Leveraged Retail & FS to generate incremental EBIT contribution to Group

banco ctt

• Reached >800k clients
• Increased profitability (PBT 25-30M€)
• Achieved ROTE of 11-13%
• Increased deposits and off-balance >5B€

• Reviewed career progression model and revamped ctt employer brand
• Structured and expanded training programmes (+50% vs. 2022)
• Distinguished with top employer & wellbeing awards

ESG

• Reduced carbon footprint by electrifying own last-mile fleet (~50% YE25)
• Invested in social impact programmes to support community (>1% EBIT)
• Set ESG-linked incentives to 100% of top & intermediate management

Met ambitious financial targets

On track to achieve the 2025 guidance and the CMD'22 targets!

And continuously remunerating shareholders

¹ Related to dividend declared in each fiscal year; ² 10.54M€ concluded in 2023 and 9.44M€ in 2024; ³ 10.88M€ concluded in 2024 and 14.06M€ in 2025

Delivery of ambitious targets has granted market recognition

¹ Closing Prices

2026-28 strategy: building-up of a market leader…

A clear path to sustain growth and profitability

e-commerce solutions

Scale up to Iberian leadership in e-comm logistics

Evolve our operating model, combining a complete last mile offer with a wider value chain presence, to foster customer loyalty

Mail & Services

Stabilise mail, nurture business solutions and strengthen retail

Leverage price while preparing for next USO contract

Reduce costs via operational efficiencies, and capitalise o n current commercial and network capabilities (B2B and B2C)

banco ctt

Speed up growth and profitability

Strengthen a distinctive business model, completing the offer and boosting digital to pair with a non-replicable physical presence

Business enablers

• Leverage technology and in-house engineering
• Focus on attract, develop and compensate talent
• Embed sustainability in our decisions and actions

e-commerce Solutions | The main growth engine

A winning and unique model in Iberia

Aim for Iberian leadership in 3 to 5 years, propelling our business model to amplify e-commerce tailwinds

Broaden value chain presence, enhancing the uniqueness of our proposition

Capture cross border volumes

Cacesa to increase value for non-EU marketplaces; DHL JV for intra-Europe

Evolve our tech-intense model, deepening specialisation, for best-in-class productivity and quality

Expand OOH footprint, adding convenience to our last mile offer, while reducing cost and carbon impact

Mail & Services | Mail stabilisation and value unlocking

Leveraging customers' trust

Leverage current contract through pricing updates and efficiency, while preparing for the upcoming negotiation

Engage customers with omnichannel experience, improving digital channels and intelligence

Continue to unlock value and engage with partners through synergic business solutions and payments

Use the established retail network to sustain and grow services aligned with its footprint

banco ctt | Organic acceleration

Up to scale both relevant and proportional to the franchise

Maintaining growth in domestic massmarket clients

Retail banking no-frills value proposition

Excel in savings by fully capturing ctt synergies

Leverage the already successful Generali partnership

Fight for "fairshare" in the credit arena – consumer and mortgage

Reinforce leadership in auto loans

Offer outstanding service and proximity, integrating in-person and digital channels, and growing the footprint

Technology & Engineering | Driving digital transformation

Boost customer experience and operational efficiency with improved digital solutions and systems

Operations - unified operational ecosystem across Iberia for consistent performance

Optimising efficiency and reducing costs

Single Iberian ICT platform

Customers - centralised tools and tailored solutions for different customer segments

Driving customer engagement and satisfaction

B2C app

B2B portal banco ctt app

Processes - advanced automation and autonomous solutions

Boosting productivity and optimising results

Helena chatbot AI/process automation

Technology & Engineering | Accelerate and expand own expertise

Optimise business core operations with increased flexibility

First mile - proprietary technology driving scalable efficiency

Accelerating operations increasing sorting power, while maintaining cost efficiency and operational control

Automated customised chutes

Facility layout aligned with task and type of parcels

Last mile - client-centric proprietary tech for optimised delivery

Enhancing proximity, sustainability, and commitment, while optimising distribution costs

Prize winner field force app for mailmen and couriers

Lockers' unique modularity ecosystem

People | Manage workforce with care

Attract, develop and retain talent

• Leaders programme (~1,000 people)
• Shop clerks training (>1,600, 80%)
• Digital AI Capabilities (>900 people)

Proactively attract and retain top talent, enhancing employer branding, compensation strategies, and training opportunities

• Youth Talent 2x more applications

• 7,000 operational on performance compensation

• Merit progression, 1st year applied to 25%

Strengthen employee well-being,

by addressing pain points, and improving mobility and resource allocation

• Financial literacy (>500 people)
• Mortgage aid for employees (>500)
• Improved employee experience Myctt portal

Sustainability | Committing with the Environment and the Community

Committed to achieve responsible and ambitious short-term SBTi approved decarbonisation targets

• 100% decarbonisation of last mile own fleet by 2030
• Acquisition of 100% green energy
• Incorporation of recycled material in 100% of CEP's products

Promoting participation and investment in social impact projects in our community

• 6k hours of employee volunteering per year by 2028
• 10% employee volunteer participation annually by 2028
• Support vulnerable communities by offering core business capabilities

Consistently delivered on our targets

Proven execution.

Ready for the future!

Agenda for today Services & Q&A 02 e-commerce Solutions Ambition & Strategy ctt

The recent journey towards becoming

the best Iberian e-commerce logistics platform

Top growing operator in Iberia, achieving best-in-class margins

¹ Figures based on the most up-to-date publicly accessible information, source: Orbitis

Delivered by outgrowing our markets…

Client base diversification leveraged by momentum of global marketplaces

Fully developed solid foundations to carry on winning

Comprehensive Iberian coverage in e-commerce solutions

Note: All values refer to Q3 2025; The map does not illustrate the islands; however, PUDOs (Pick-Up and Drop-Off points) and operational centres are established and actively operating in those locations; ¹ LTM 9M25

Delivered growth while increasing margins

Delivering on the promise: better, faster and greener e-commerce across Iberia

¹ Compared to inflation 21-24

Growth carries density and unlocks scale efficiencies

¹ Dense areas (Madrid, Lisbon) vs. national average

Forged a distinctive value proposition to customers

A value proposition built upon a platform of synergic units

There is further room for e-commerce growth, given the journey made by peer EU countries

e-commerce adoption remains below reference benchmarks, signalling untapped potential

¹ Spain's forecasted share evolution based on Belgium, Denmark, Germany, Netherlands, and Sweden; Portugal's forecasted share evolution based on France, Greece, Italy, Poland and Spain; Note: e-commerce share (excluding food, drinks and tobacco) as a % of online and offline retail sales; Source: Euromonitor (data extractions in Aug. & Sep. 2025)

B2C expected to outgrow traditional B2B

B2C already leads in Spain with Portugal expected to cross the halfway mark by 2026

B2C/e-commerce specialisation: a valuable asset

A comprehensive e-commerce offer, differentiating through quality and efficiency

Parcels market growth pushed by cross-border flows

Cross-border expected to grow 2x domestic

Iberia parcel market size

Strong synergies across e-commerce verticals

Our Iberian e-commerce and logistic platform value chain

^<sup>1 Anacom, CNMC, Effigy, GSCi, "IPC Global e-commerce Supply Chain 2023" study, ctt analysis

Cacesa strengthens positioning on cross-border e-commerce

Full value chain integration to boost engagement, efficiency, and foresight

O1 Customer engagement

Increasing customer involvement across the value chain strengthens loyalty

Operational efficiency

An integrated operation enables higher service quality and drives efficiency

Anticipating market movements

By touching customers in the early stages of the value chain ctt gains better foresight into market trends

DHL partnership: a key alliance to capture growth in Iberia through the global and intra-European flows

DHL eCommerce growth in Europe outpaced total segment

¹ DHL Capital Markets Day 2025

Tier-1 players are the most relevant,

with Chinese marketplaces gaining ground in Iberian e-commerce

Established players remain strong as Chinese platforms accelerate

Note: Excludes Edible groceries, Foodservices and Leisure & Entertainment; Source: Flywheel Retail Insights (February 2025 estimates and forecasts), Euromonitor, ctt analysis

Approach for each segment

Building on B2C specialisation and a differentiated business model

Consolidate presence

01Efficiency and quality provided by fully controlled operational model

Extended value chain presence: clearance, OOH delivery, returns

Build relation

DHL JV to enable one-stop-shop offer – B2B, B2C, International

Add scale and competitiveness

Leverage on a singular offer blending home and OOH delivery

Make it simple

Use alternative channels, mainly digital

Push pre-paid packages, simplified offers

Promote point-to-point shipping backed by OOH network

Attract volume

Blend best-in-class B2C operation with DHL commercial reach

Leverage on a singular offer blending home and OOH delivery

Value chain presence | Full fledged offer | Out-of-Home network | Digital

Out-of-Home delivery creates value across the ecosystem From cost savings to urban sustainability

Merchants Municipality

500

400

300

Lower shipping costs, fewer failed deliveries, enhanced customer satisfaction

800

700

600

OOH expansion helps cities reduce emissions and ease congestion

200

100

Distance (m)

OOH delivery preference per market and network density¹

Couriers

Greater efficiency, fewer stops, lower costs, and scalable peak delivery

Consumers

PUDOS/10k inhabitants

Higher convenience, less missed deliveries, easier C2C shipments

1 000

900

¹ IPC Global e-commerce Supply Chain 2024 study

OOH strategy: a combination of lockers and attended PUDOs

Lockers and attended PUDO complement themselves

Lockers (unattended PUDOs)

ctt stores, shopping centres, retail networks, gas stations, public transport hubs, public services buildings, office buildings

Attended PUDOs

local store. ctt stores. ctt retail agents (Ponto ctt. Payshop)

Channel

Offer

Parcel delivery through self-operated parcel locker with 24/7 consumer access and E2E control of consumer experience

Final pickup destination at an operated or contracted pick-up/drop-off point. typically local store, post office etc.

Advantages

Strong convenience (24/7 access) and flexibility (asynchronous Cost-effective delivery with higher efficiency (e.g. fewer stops)

Improved security

Pickup flexibility (asynchronous handover)

Additional services available at pickup points High peak season flexibility

handover)

Top 10 clients

SHEIN INDITEX

SHOWROOM

Increase leadership in shifting to Out-of-Home delivery

Target of ~50% market share of the Iberian OOH footprint in 2030, supported by the deployment of 10k lockers

¹ 17k with activity

OOH also drives reductions in last mile costs

From reduced stops for couriers to fewer failed deliveries — OOH delivery proves its value at scale

Cost Efficiency

• Less stops and fuel consumption
• Reduced labour costs

Planning & volume peak management

• Consolidation, fewer capacity bottlenecks
• Lower strain on delivery networks

Quality of Service

• Higher first attempt success
• Simplified return solutions

~7K1

Average investment per locker

~2-3 year²

Payback period

>2M km

Saved per year by using PUDOs

Last Mile costs at the respective OOH share

Sustainable impact

• Reduced carbon emissions
• Added convenience to community
• ▶ Promotes C2C flows

^<sup>1 Full cost for 1 master unit plus; ² "slave" units. Modular system allows "invest as you grow", considering projected occupancy rates

A focused roadmap on operations:

network, capacity, efficiency, integration, and synergies

Integrate, scale & optimise operations

Expand network capacity to accommodate growth

Optimise network as integrated Iberian system

Review network design to accommodate future growth

Increase productivity & cost-efficiency

Optimise automation and network design to capture scale and efficiency gains

Boost delivery efficiency and digitalise operations

Consolidate Iberian approach

Adopt integrated technology and data platform

Align portfolio and centralise functions

Capture DHL & Cacesa synergies

DHL: Integrate B2B distribution capabilities and infrastructure

Cacesa: Leverage digital tools, import processes & airport handling

In-house innovation powers projects with impactful results

Operational excellence through speed, accuracy, quality, and cost reduction

First Mile

Sorter's hybrid solution (ctt+OEM)

4% to 8% cost reduction in new sorters with adjusted features

Volume management to prevent overloads and maintain quality KPIs

+65% first mile process productivity

Sorters upgrade

Automated customised chutes

42% FTF reduction on emptying and aggregation

48% parcels: handling auto

Tray vision (AI)

Better tray detection with >1k packages/hour and -180h/vear maintenance

Containerisation

Enables greater control and traceability in transportation

Reduce ~35% of incidents caused by transport-related issues

Proprietary DWS³ System

With cameras volumetric measurement and weighing

30% less the OFM cost

Last Mile

Routes Dispersal Points

Delivery route hubs -ST rental without infrastructure

~1h1 saved in distribution

Field Force App

+3pp on effectiveness

Onboarding newbies: from 2 weeks to 2 days

Pitstop

Pre-last mile optimisation

13k€/day cost reduction2

Lockers modular ecosystem

~50% production cost reduction

^<sup>1 Per day / per route associated to RDP; ² Considering full deployment; ³ Dimensioning Weighing and Scanning

Internal technology powers customer experience across the board

Evolving significantly the NPS results

Deflection of 35% of CC inquiries

NPS increased by 40 points

Chat-bot: Incorporating agentic AI:

Drive efficiency through autonomous, transactional decisions

Mail and parcels sending and tracking launch – deflection of ~60% to digital channels

Single Iberian platform

Targeted outcome:

Synergies, greater efficiency, consistent experience and lower system costs

First pilot up and running

Omnichannel user experiences

Create compelling web, app, store and lockers experience to promote self-service, reduce costs and enhance upsell / cross-sell

Store front-end

Self-service ecosystem

Investing to build the foundations for scale

Network transformation within controlled Capex ratios

A robust winning model, a clear plan to attack the next cycle...

Strategic positioning on the fastest growing segment (e-commerce) and its key players

The most compelling offer along the e-commerce value chain, enhanced by the DHL JV

A specialised operating model, backed by tech autonomy and integration

Differentiation, scale and efficiency as the levers to consolidate best-in class margins

…aiming at the Iberian CEP leadership

Proactively addressing mail volume decline by evolving core initiatives and expanding complementary offerings

Leveraging proven capabilities and targeted initiatives to sustain performance and mitigate declining volumes impact

Our historical mail operation is complemented by synergic B2B and B2C offers

Mail operates under a service-level contract, while business and retail solutions enhance client value and footprint

Note: 2024 Financials

The historical portfolio within Mail & Services

Volumes are declining across geographies, driven by digitalisation, consumer preferences, costs and sustainability

Portugal is no exception to this trend

Mail volume in decline at a global level, driven by market trends

Digitalisation of processes

Shifting consumer behaviour

Rising costs of physical mail

¹ Market volumes indicative, leveraging figures for leading postal operator for Italy, Netherlands, Portugal and Denmark as proxies; ² Forecast assumes average annual decline for period 2016-2023 is applied for the years beyond 2023; Source: BCG's proprietary Market Insight Tool; IPC Global Postal Industry Report; Annual Reports; Company annual reports; ctt analysis

Current price mechanism allows mitigation of impact, nevertheless operational efficiency remains key

Using 2024 as a reference, the new pricing formula affects 60% of Mail revenue

Regulated email reduction is an unavoidable trend …

… but with the new price formula allows ctt to mitigate …

… part of the challenge, while keeping tight cost control

Includes USO parcels; ² Price formula explanation: Inflation: Avg. variation in Consumer Price Index over last 12 months; Volume: Yearly variation in volume, adjusted for Variable Costs (VC); E: Efficiency factor fixed at 0,5pp for every contract year; K: Adjustor for significant USO changes; 3) Considering 2024 revenue distribution

Leading in distribution innovation, adapting to volume trends, relentlessly pursuing efficiency is the path

We have been proactive in evolving our network

Modernising operations, for greater efficiency and better service quality

Using technology to improve performance – 3 practical examples

Capacity increase through an ergonomically redesigned cart transitioning from pulling to pushing made from recycled materials and locally produced in Portugal at onethird the cost of Nordic suppliers

>4M total walked km in 24 (+10% compared to 23)

Incorporate into a digital system, associated with mail processing equipment, the knowledge of postal workers so that it can automatically sort by route and sequence objects that are currently rejected

Retirements and natural exits will contribute for the gradual reduction of operational workforce

Strategically aligned with demand-supply forecasts to mitigate risks

^<sup>1 Employees which meet the requirement to retire; ² Assuming 2024 attrition rate of 1.4% YoY

We will continue to improve our efficiency adapting to volume, unlocking important savings to safeguard profitability

Through targeted cost-cutting initiatives and operational adjustments

Source: ctt analysis

Strict USO¹ have not been reduced in-sync with sharp decline in mail volumes

Even though some countries have moved towards adapting to context

Source: ERGP 2024 Note: D+X = Next working day(s); 1 Universal Service Obligation; 2 data refers to mainland territory; 3 Exception for visually impaired people, small island and international mail during transition

It is paramount to evolve the USO contract in 3 key dimensions

000

Scope and Quality/SLA

Simplify products, aligned with mail's importance in society

Financing Model

Ensure funding of the concession contract, as self-funded model is not sustainable

Geographical coverage

Maintain proximity through self-care options

Diversified portfolio of Business Solutions to increase share in B2B customers

Business Solutions shaped and responding to key trends

Balancing digital payments growth, with financial inclusion

Increasing demand for digital payments

Physical payments still the most suited for some segments

6% Digital payments value CAGR₂₂₋₂₄

Cost control & reduction to navigate current uncertainty context, and position for growth

Service outsourcing for cost optimisation

Demand for specialised partners

33%

main priority (+8pp vs 24)

Accelerating efficiency and long-term growth through Digitalisation and (Gen) AI

Digital transformation seeking efficiency

Next wave, AI unlocking new growth opportunities

70%

Positioned to deepen customer relationships and unlock potential growth

Supporting value creation by offsetting declining mail margins

Transformation 000 Online Sales Payments Enabler & Support 21 M€ 12 M€ 36 M€ 3 M€1 ctt share in sectorial clients² Mail & Document Commercial Business Payments Services & Management Process Services Comprehensive payment Digital Platforms solutions, spanning payment Automating mail and Delivering end-to-end BPO >90% for businesses, mobility document workflows solutions and contact Enabling e-commerce/ Utilities & retail networks across production. centre services to boost online stores and offering delivery, digitisation. business efficiency geographical & addressarchiving, and disposal related services >80% Municipalities 52% 119M 29% 100k Daily users -Postal objects BPS Growth (23-24) PT students use ctt's processed via P&F Payshop network >65% Digital wallet >5 5M Bank & Customers call Insurance taken and actioned 3.7M 10M >45% PT households 155M Geo-services API Documents sent consultations using our payments Public services through viactt Documents - Collected. solutions analysed and actioned

M€ Total revenues (24)

¹ Net revenues applicable for some product categories; 2 Clients with mail revenues over 20k€ per year with BS services

Aiming for double digit growth, consolidating its continuous ascending path

Expanding our role across the customer lifecycle to increase share of wallet

Retail network close to B2C clients with growing relevance of services and digital

Note: 2024 Financials

Evolving our retail network to unlock portfolio value for daily foot traffic, building strong customer engagement

15M Walk-ins ctt stores

Self-service, digital tools and service portfolio play a major role in fulfiling this approach

Complete offering, designed to serve clients' real day-to-day needs with simplicity, proximity and trust

FSR portfolio across channels

	Full offer
$\odot$	Selected offer
(3)	Not available

	Logistics offering		Additional offering
Ctt Stores Focus on SOHO esellers and services (insurance, public debt, utilities)	Mail	E&P	Financial Services	banco ctt	Payments	Retail Products	Other Services
ponto Ctt Posts Shipping services (simplified offer)	$\odot$	$\bigcirc$	$\bigcirc$		Ø	Ø	Ø
payshop Agents Payments, Retail products, simplified shipping services			$\odot$		⊘	Ø	Ø

Effective channel and service segmentation to meet customer needs, maximising growth and cross-selling

Providing the adequate experience, with digital and self-service as the cornerstones of interaction

Focused on aligning customer expectations with business

Multi-channel to multi segments (consumers to SOHO/SMEs) New shop concept with more consultative sales and service convenience Digital Our lockers evolving to channels with complement stores

with added self-service

capabilities

3

omnichannel

experience

Growth

Expanding the new shop concept and customer journey to support service-driven sales

Bringing more consultative sales and service convenience to high-potential locations

A new shop concept designed to enhance client autonomy and self-service convenience...

...featuring spaces that foster up and cross-selling ctt services to individuals and SOHO/SMFs...

... supported by technology that enables a new customer journey

Top 10-15% highpotential stores will be annually remodelled

Servin partnership: Over 2001 calls received through Portuguese sign language video interpretation

Community proximity: Supporting associations through our network's reach

Modular self-service equipment ecosystem as an enabler of the omnichannel journeys, powered by ctt-owned technology

Self-service hardware: Lockers modular evolution to CSS full suite

High potential ctt stores have at least a locker¹ Lockers Receiving and sending/ returning parcels and Expresso delivery attempt notices Dematerialised experience without the need to print labels 70% Of sales made after closing hours Vending Machines Allows customers to purchase prepaid envelopes, boxes 29% Customers using this solution P.O. Digital Box Rented mailbox service that uses the same technology and functionality as a locker >850 Label printers will be available soon Stamp Machine The stamp machine allows customers to purchase stamps via self-service NEW Outdoor version Additionally includes two LED panels for publicfacing institutional messaging

¹ Due to space limitation the remaining 30% of stores cannot accommodate a Locker, however each has one located within 500 meters

Developing the ctt app to improve convenience and reach by providing a seamless digital access to consumers

Digital adoption has reached 50% of our customers

^<sup>1 Tolls payments in value; ² Public Debt placement operations

Financial Services to put out consistent growth, making the most of channel and offer evolution

Digital expansion and new services, on top of a stable context for public debt

Includes revenues from services with subscription, e.g. Health plans, Insurance and new services under development

Mail & Services with a clear plan for the next cycle

In March 2016, banco ctt deployed an innovative retail banking model, leveraging existing assets and a distinctive value proposition

Distinctive track-record, with a perfect fit with retail bank core values

Household name, historically attached to the ideas of Trust And Proximity, with experience on financial products (retail sovereign debt)

Post crisis context, with negative perception of incumbent banks

Nationwide presence, at very low Capex

Usage of ctt infrastructure allowing for lower Capex deployment (5x less investment per branch vis-à-vis incumbents) and low incremental OPEX

Prime, high-traffic locations, well-known by local population

Brand Branch network Value proposition

Simplified retail bank, with essential offer at affordable price point

Essential core banking offer (day-to-day, credit and savings)

Reduced adoption barriers, strong value for money, attacker stance, particularly on initial engagement (current account and daily transactions)

Less than 10 years afterwards, banco ctt holds a sizable and productive retail banking franchise…

Sizable and productive retail bank franchise…

>700,000

accounts, 65% Lisbon/Porto metro areas, average age 48 years, strong digital adoption

Net Promoter Score above peers

Already noteworthy engagement, ~50% with domiciled salary and/or heavy transaction frequency¹

…Plus, distinctive auto loans point of sale operation

>100,000

auto loan contracts, average ticket 15k, 8 years maturity

Acquired in 2019, 321 Crédito became a TOP 3 player in auto loans, with >12% market share (credit production)²

Strong presence in profitable segment, more than 1,000 productive relationships with credit intermediaries (auto dealers)

¹ Considering 650k 1st holders, >18 years, ~50% have salary and/or heavy transaction frequency; ² Based on ASFAC data for used autos (Associação de Instituições de Crédito Especializado)

…Being the fastest growing in Portugal (12x above market)…

¹ Considering on-balance volumes; Source: Banco de Portugal

…While fully delivering previous CMD's promised aspiration

		2025 (set)2	2025 Objetive3	2025 perspective
	Accounts (thousands)	701	700 - 750
	Business Volumes (M€)	7,590	>7,000		Business volumes above guidance, particularly on customer resources
Volumes	Resources (M€)	5,445	>5,000
	Credit (M€)	2,145	~2,000
	PBT (M€)	26	25 - 30
	Normalised ROTE1	13.4%	11 - 13%		Profit before taxes expected to stay within
Results	CIR	68%	<70%		range, despite lower interest rates scenario
	CoR	0.8%	0.7 – 0.9%

¹ Tangible Equity normalised @15% of average RWA; ² End of quarter for volumes; last twelve months for results; ³ Based on September 2023 Reverse Roadshow (objectives revised upwards vis-à-vis 2022 CMD)

In short, we believe banco ctt is living a great momentum… creating the ideal conditions for a new, ambitious, growth cycle

The new business cycle entails fast-paced growth, combined with investment on highly productive enablers

Growth themes: more accounts and engagement, savings innovations and credit expansion

Driving growth through customer growth, engagement level, and widening of savings offering

Base & Engage

Themes Envisaged evolution Target 2024-28

Improve current account portfolio Freemium approach, low barriers to adoption and premium accounts Tailor-made offers for specific segments (e.g., self-employed) Simplified commissions, positive discrimination of salary domiciliation

Improve service and capillarity

Improve service standards, with fully revamped digital channels Increased capillarity, with presence in underserved regions

>1 million accounts

2

Deposits & Savings

Complete off-balance offer

Strength Generali partnership with new product launches Launch investment funds and selected capital markets products (e.g., sovereign bonds and ETFs)

• Boost in-store cross-sell, leveraging ctt ecosystem
• Maintain attacker stance on term deposits, with tactical pricing for "new money" and "high tickets"

>15% CAGR

Growth themes: more engagement, savings innovations and credit expansion

Strong growth while maintaining the overall risk appetite¹

Themes Envisaged evolution Target 2024-28

• Mortgage: (i) improve time to decision and time to cash and (ii) reinforce relationships with intermediaries, namely through customised workflow and API² availability for large players with proprietary CRMs
• Consumer Finance: (i) revamp personal loan partnership and (ii) launch on-balance credit card

3B

Auto Loans

• Tailor value proposition forlarge intermediaries including segment-based pricing, commissions and fast-track decision and underwriting
• Develop new commercial strategies, including CRM campaigns on run-off portfolio (repetition/top-up), and cross-sell opportunities with bctt franchise

>15% CAGR

¹ Cost of Risk guidance remains at 0,7-0,9%; ² API – Application Programming Interface, allowing large intermediaries to interconnect own CRMs with bctt credit workflow

Business enablers: hybrid distribution powered by automation

Hybrid Distribution Model

Enabler Envisaged evolution

• Revamp digital channels with a service-to-sales approach, including fully digital product journeys and automated push marketing, enabling automated learning/experimentation
• Strength branch network, keeping a "phygital presence" with low and variable cost base

Reinforce in-store specialised staff, from 165 FTE to ~300 FTE (still, reduced workforce costs vis-à-vis incumbents)

Expand branch capillarity, with a unique low-cost approach, only available to ctt Group, aiming to enter underserved regions, but with significant market value (~30% of total savings)

• Core system overhaul, migrating to cloud-based setup, with increased scalability and flexibility for new product launch
• AI/process automation, including backend validations and interactions with frontend, support to credit decision and underwriting, predictive models and event driven marketing automation
• Implement specific initiatives linked to product journeys (e.g. portfolio of current accounts, credit cards, mortgage workflow, etc)

In a nutshell, strong ambition with growth focus for the following years…

¹ Tangible equity normalized @ 15% of average RWA 2 CET1 current requirement 8,69%: 4,50% Pillar 1 + 1,69% Pillar 2 + 2,50% Conservation Buffer (prior to the increase in the Counter Cyclical Buffer from 0% to 0,75% in Jan 2026) Note: Main macro assumption: benign economic environment with Euribor at ~2.2% (2028)

…on track to materialise our "upgraded core vision": to become a meaningful mid-size retail bank

banco ctt business volumes market share¹

1.0% 1.2% 1.8% 2.8 – 3.4%²

¹ Considering on-balance volumes (individual clients, all segments); ² Assuming market growing at 2022—24 CAGR; Source: Banco de Portugal

bctt will continue to unlock economic value through a self-funded journey

Agenda for today Services & Q&A Solutions 05 Financial Ambition & Strategy ctt

Our journey over the last strategic cycle has been remarkable

Anchoring e-commerce solutions as our key business unit

¹ Includes Retail and Financial Services

With ctt outperforming most of its peers in EBIT growth

Combining fast growth with best-in-class profitability

Investing in our business while increasing shareholder remuneration

Using balance sheet to drive sustainable performance with a well-balanced capital strategy

¹ Total dividends paid to CTT shareholders; excludes dividends paid by CTT subsidiaries to minorities; ² Banco CTT under equity method, including IFRS16

With a disciplined capital allocation strategy

ctt has been able to re-deploy capital in a value accretive manner

On the back of strong execution, we delivered our targets from 2022

Key financial objectives assumed in ctt's CMD22

We will accelerate growth through strategic capital allocation

In the next cycle we will continue to build on our competitive advantage

Next cycle target: 170-195 M€ in recurring EBIT by 2028

¹ Pro-forma figures including Cacesa; ² Includes Financial Services & Retail Note: 2028 figures include DHL JV & Cacesa; Source: Grupo ctt; ctt analysis

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Our targets assume a stable macroeconomic context and DHL JV

¹ Banco de Portugal "Boletim Económico junho 2025"; ² CFP "Perspetivas Económicas e Orçamentais 2025-2029", April 2025; ³ Banco de España "Proyecciones macroeconómicas de España 2025"; ⁴ AIReF - Autoridad Independiente de ResponsabilidadFiscal, AAI "Informe de Seguimiento del Plan Fiscal y Estructural de Medio Plazo 2025-2028 ", May 2025

We will step up investment in our core to unlock future growth

Scaling operations and service quality through strategic investments in infrastructure, OOH solutions and IT

¹ annual average; ² includes Express & Parcels, Financial Services & Retail and Business Solutions

Banco ctt will also invest to re-accelerate growth and value

Banco ctt will continue its fast growth momentum, with a self-funded investment plan

Price / Book Value vs Business Volumes growth

Source: Capital IQ, ctt analysis

We remain vigilant for strategic inorganic moves

Note: 2024 Financials

We will seek opportunistically to reinforce our position in e-commerce

Pursuing further e-commerce value chain integration

A strong balance sheet managed conservatively to keep optionality

¹ Financials with banco ctt under equity method

Disciplined Capital Allocation: Cash generation to fund growth, deliver shareholder returns and maintain a strong financial position

Ambition to implement a compelling shareholder remuneration policy that provides a reliable source of income for investors

Capital allocation policy

Combine recurring, dividend-based, and opportunistic shareholder returns, with SBB & cancellations, aligned w/ specific market conditions and company leverage

Leverage cash generation and balance sheet flexibility to pursue M&A opportunities to drive growth and position ctt as a leading Iberian logistics & e-commerce player

35-50%

Dividend Payout Ratio Between 2025-28

150-165M€

Cumulative Capex Between 2025-28

<2.5x Net Debt / EBITDA w/ banco ctt under Equity Method

Ready for higher returns

Agenda for today Services 06 Closing Remarks & Q&A Solutions Ambition & Strategy ctt

We came up a long way. A new journey follows

Nurture closeness to our customers, to be their most trustful partner

We remain, more than ever, committed to deliver

1,600-1,700 M€ Revenues

Recurring EBIT 170-195 M€ #1