Slides
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2 l The information in this presentation has been prepared under the scope of the International Financial Reporting Standards (‘IFRS’) of BCP Group for the purposes of the preparation of the consolidated financial statements under Regulation (CE) 1606/2002, as amended. l The figures for the first nine months of 2024 and 2025 were not audited. l The information in this presentation is for information purposes only and should be read in conjunction with all other information made public by the BCP Group. l In the second quarter of 2025 the Bank reclassified a portfolio of debt instruments associated to credit operations, previously included in the Securities Portfolio (Debt securities held not associated with credit operations), now recognizing them as Loans to Customers (Debt securities held associated with credit operations) The historical amounts considered for the purposes of this analysis are presented according to this reclassification, aiming to ensure their comparability, thus differing from the disclosed accounting. This accounting reclassification also led to the reclassification of the respective results, namely other impairments and provisions, credit impairment, net interest income, and results from financial operations. l The figures presented do not constitute any form of commitment by BCP in regard to future earnings. Disclaimer
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3 AGENDA
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4 Highlights 01
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5 1 Before non-controlling interests. 2 Includes provisions for legal risk, costs with out of court settlements and legal advice. Does not include provisions for legal risk on CHF mortgages of Euro Bank (guaranteed by Société Générale). Before taxes and non-controlling interests. 3 Fully implemented estimated ratio (September 2025) including 25% of the unaudited net income of 9M25. 4 Liquidity Coverage Ratio (LCR); Net Stable Funding Ratio (NSFR); Loans to Deposits Ratio (LtD). 5 Including an impairment reversal occurred in Q2’24, without this effect cost of risk would stand at 49bp at the Group level and 49bp for Portugal in 9M24. Business Model A Solid and Efficient Bank Profitability ▪ In 9M25, the Group's net income amounted to €775.9 million, reflecting an increase of 8.7% compared to the same period of the previous year. This performance resulted in a ROE of 14.6% in September 2025 ▪ Net income in Portugal increased by 8.0% from 606 million in 9M24, to 654.5 million in 9M25 ▪ International operations recorded a positive performance, with net income increasing from 192.71 million in 9M24 to 230.71 million in 9M25, representing an increase of 19.8% compared to the same period of the previous year. Highlight for Bank Millennium’s which recorded a net income of 202.01 million in 9M25, despite charges of 380.22 million related with CHF mortgage loan portfolio (out of which 310.42 million in provisions) ▪ Solid capital ratios, CET13 stood at 15.9% and total capital ratio3 at 19.9% ▪ Liquidity indicators well above regulatory requirements. LCR4 at 321%, NSFR4 at 180% and LtD4 at 68%. Eligible assets available to discount at ECB of 29.1 billion ▪ Group’s total Customer funds grew 8.6% to 109.5 billion and loans to customers up 4.9% to 61.5 billion compared to September 2024. In Portugal, customer loans increased by 7.2% (+2.9 billion) and total customer funds increased by 6.3% (+4.4 billion) compared to September 2024 ▪ Relevant reduction in non-performing assets compared to September 2024: 332 million in NPE, 71 million in corporate restructuring funds and 19 million in foreclosed assets ▪ Cost of risk at Group level stood at 31bp in 9M25, which compares with 38bp5 in the same period of last year. In Portugal Cost of risk stood at 33bp in line with with the same period of last year5 ▪ Customer base surpasses 7.2 million highlighting the 9% increase in mobile Customers, which represented 74% of the total active Customers at the end of September 2025
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6 Customer counting criteria used in the Strategic Plan. Digital Mobile Active Digital Mobile Active Group Customer Recognition These awards are the exclusive responsibility of the attributing entities. Customer base growth Based on the quality of the Teams and distinctive digital skills Customer Recognition These awards are the exclusive responsibility of the attributing entities. As % of active Customers As % of active Customers ‘000 Customers ‘000 Customers 1,712 1,875 Sep 24 Sep 25 66% 1,979 2,129 75% 2,763 2,857 4,886 5,323 Sep 24 Sep 25 74% 5,401 5,787 80% 6,919 7,215 Portugal +163 +10% +150 +8% +437 +9% +385 +7%
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7 + 7% % Digital Transactions (#)3 % Digital Sales (#)4 # Digital Interactions (mio)2 1 Includes P2P transfers in Millennium app 2 Interactions (Millennium website and app), individuals includes AB 3 Includes mobile, online and ATMs, excludes branches and contact center that counts for 0.41% of total transactions 4 Digital sales (Millennium website and app) in number of operations 5 Digital channels satisfaction (NPS), 5 largest banks, Source: BASEF-Marktest 7 Innovation focused on Customer needs translates into accelerated growth in Mobile usage and sales #1 NPS5 Digital Customers Sep 2025 5 largest Banks 4.9 4.8 4.7 App Millennium leads ratings 84 85 99.6 99.6 75 76 9 9 9M24 9M25 APP Site 88 90 12 10 9M24 9M25 Digital ATM 515 572 9M24 9M25 +14% Transactions1 +17% National Transfers (#) +61% Account Opening (#) +58% Investment Funds (#) +15% Sales +48% Personal loans (#) 78% Mortgage Approval Letters digitally signed (#) 39% Digital Mortgage Deed Appointments (#) In Mortgages…(Number of operations, Jan-Sep 2025 vs Jan–Sep 2024) Strong mobile growth Y/Y
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8 1 Does not include provisions for legal risks on CHF mortgages of Euro Bank (guaranteed by Société Générale). Net income of 775.9 million in 9M25 1 (Million euros) 9M24 9M25 % D Net interest income 2,110.8 2,166.6 +2.6% +55.8 Commissions 604.6 628.8 +4.0% +24.1 Core income 2,715.4 2,795.4 +2.9% +80.0 Operating costs -945.7 -1,032.5 +9.2% -86.8 Core operating profit 1,769.7 1,762.9 -0.4% -6.8 Other income -24.1 29.5 +53.6 Profit before impairment and provisions 1,745.6 1,792.4 +2.7% +46.8 Impairment, other provisions and results on modification -689.8 -590.6 -14.4% +99.2 Of which: Loans impairment -167.3 -141.0 -15.7% +26.3 Of which: legal risk on CHF mortgages (Poland) -347.6 -310.4 -10.7% +37.2 Profit before income tax 1,055.8 1,201.7 +13.8% +145.9 Income taxes, non-controlling interests and discontinued operations -341.7 -425.8 +24.6% -84.1 Net income 714.1 775.9 +8.7% +61.8
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9 Delivering shareholder value Return on Equity (RoE) | Return on Tangible Equity (RoTE) | Book value per share (BVPS) | Dividend per share (DPS) | 1 Considering the evolution of the book value per share from September 2024 to September 2025 adjusted by the total number of shares purchased under the completion of the share buyback ( SBB) and the €0.03 dividend per share relating to 2024 earnings, paid in June 2025. | 2 Annualized September earnings divided by the total number of shares ajusted for shares purchased under the completion of the share buyback (SBB). ore value ROE 14.6% 9 EPS +11.5% BVPS + DPS +17.2% ROTE 15.2% 1 2
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10 Group 02 Profitability
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11 Group (Consolidated, million euros) Portugal (Million euros) International operations (Million euros) Net interest margin Net interest income Net interest margin Net interest margin 2,110.8 2,166.6 9M24 9M25 1,107.3 1,171.9 9M24 9M25 1,003.4 994.7 9M24 9M25 -0.9% 3.05% 2.92% 4.55% 4.37% 2.24% 2.10% +2.6% +5.8%
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12 Group (Consolidated, million euros) Portugal (Million euros) International operations (Million euros) Banking fees and commissions Market-related fees and commissions ComissõesFees and commissions 514.7 525.4 90.0 103.4 604.6 628.8 9M24 9M25 367.4 388.0 70.3 77.5 437.7 465.5 9M24 9M25 147.3 137.4 19.6 25.9 166.9 163.3 9M24 9M25 +4.0% -2.2% +6.3%
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13 Group (Consolidated, million euros) Portugal (Million euros) International operations (Million euros) 0.9 69.94.3 5.2 -70.3 -87.0 9M24 9M25 28.4 10.8 40.3 40.2 -27.7 -9.6 9M24 9M25 29.3 80.744.6 45.4 -98.0 -96.6 9M24 9M25 Equity earnings + dividends Mandatory contributions Outros proveitosOther operating income Mandatory contributions Net trading income1 Other net operating income2 Of which: Banking sector 27.9 Resolution Fund PT 6.5 Solidarity contribution 5.1 28.6 10.2 Mandatory contributions 39.5 38.7 85.5 123.0 29.5 -11.9 41.1 45.3 102.7 -24.1 -65.2 40.1 20.4 41.4 1 Net trading income includes -67.1 million in 9M24 and -5.3 million in 9M25 of costs related to out -of-court settlements with Customers related with CHF loan portfolio. | 2 Other operating income includes +37.3 million in 9M24 and +44.7 million in 9M25 related with the compensation for provisions for legal risk o n CHF mortgages of Euro Bank (guaranteed by Société Générale) and includes charges related with negotiation costs and legal procedures of CHF loans.
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14 Group (Consolidated, million euros) Portugal (Million euros) International operations (Million euros) Other administrative costs Depreciation Staff costs Cost to income Operating costs Cost to income Cost to income 522.7 575.3 315.7 341.6 107.3 115.5945.7 1,032.5 9M24 9M25 277.5 295.3 150.0 161.6 54.8 61.0 482.3 517.9 9M24 9M25 245.1 280.0 165.8 180.052.6 54.5 463.4 514.6 9M24 9M25 35% 37% 33% 34% 38% 39% +9.2% +11.0% +7.4% +6.4% +14.3%
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15 Group (Consolidated, million euros) Portugal (Million euros) International operations (Million euros) Cost of risk Loan-loss reserves Cost of risk Loan-loss reserves Cost of risk Loan-loss reserves Other Loans Cost of risk and provisions 1 Including an impairment reversal occurred in Q2’24, without this effect cost of risk would stand at 49bp at the Group level and 49bp for Portugal in 9M24.| 2 Does not include provisions for legal risks on CHF mortgages of Euro Bank (guaranteed by Société Générale): 37.3 million in 9M24 and 44.7 million in 9M25. CHF mortgage legal risk (Poland)2 69.0 37.147.3 123.6 347.6 310.4 9M24 9M25 167.3 141.0 112.5 133.8 347.6 310.4 9M24 9M25 620 98.3 103.9 65.2 10.2 163.6 114.1 9M24 9M25 31bp 1,387 38bp1 1,547 33bp1 33bp 49bp 26bp 910 767 637 585.2 471.1463.8 627.4 -10.3% +1.6% -15.8% -2.6% -30.2% -6.7% -10.7% -15.7%
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16 Group Portugal International operations (Consolidated, billion euros) (Billion euros) (Billlion euros) NPE loans ratio NPE loans ratio NPE ratio (EBA) NPE ratio (EBA) NPE NPE include loans to Customers only. * Considering State guarantees or supranationals, the ratio would stand at 121.1% in September 2024 and 126.1% in September 2025. Continued decrease of NPEs 2.6% 4.7% 1.8% 2.4% Sep 24 Sep 25 (Total impairment + collaterals*)/ NPE 118.3% 123.0% Total impairment / NPE 80.0% 86.6% Impairments allocated to NPE / NPE 53.8% 54.2% NPL>90 days ratio 1.4% 1.3% NPE ratio 3.3% 2.6% NPE ratio inc. securities and off-BS (EBA) 2.0% 1.6% 0.83 0.81 1.11 0.80 1.93 1.60 Set 24 Set 25 NPE -332 million -17.2% NPL>90d 1.045 0.803 Set 24 Set 25 -242 million -23.2% 1.9% 1.4% 0.888 0.798 Set 24 Set 25 4.2% 1.9% -89 million -10.1%
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17 Group 02 Business activity
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18 Group Portugal International operations (Consolidated, billion euros) (Billion euros) (Billlion euros) Demand deposits Term deposits Other BS funds Off-BS funds Deposits, debt securities, assets under management, assets placed with Customers and insurance products (savings and investme nts). Customer funds 46.2 50.9 36.0 37.4 1.3 1.517.3 19.7 100.8 109.5 Sep 24 Sep 25 18.8 20.9 10.0 11.42.5 3.3 31.3 35.6 Sep 24 Sep 25 27.5 30.1 26.0 26.0 1.3 1.514.8 16.4 69.6 74.0 Sep 24 Sep 25 +8.6% +7.5% +6.3% +13.8%
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19 Group Portugal International operations (Consolidated, billion euros) (Billion euros) (Billlion euros) Companies Personal Mortgage NPE include loans to Customers only, except if otherwise indicated . Loan portfolio NPE: -17.2% (-0.332 billion) 22.7 24.1 7.4 7.7 28.6 29.6 58.6 61.5 Sep 24 Sep 25 -0.89 +0.8918.92 18.92 Sep 24 NPE Performing Sep 25 +4.9% -0.24 +3.1039.73 42.58 Sep 24 NPE Performing Sep 25 +7.2% +2.85 billion
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20 Group 02 Capital and liquidity
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21 (Fully implemented) (Fully implemented) Fully implemented vs requirement Fully implemented vs requirement Solid capital ratios 1 Fully implemented estimated ratio (September 2025) including 25% of the unaudited net income of 9M25. 2 Combined buffer reserve incudes: Conservation buffer, O -SII buffer, countercyclical capital buffer ( including the increase in the percentage applicable to exposures to counterparties resident in Poland) and systemic risk buffer. 3 Capital Requirement Regulation 3 (CRR3). Common equity tier 1 (CET1)1 Total capital ratio1 Pillar 1 Pillar 2 (P2R) Combined buffer reserve 2 Pillar 1 Pillar 2 (P2R) Combined buffer reserve 2 • CET1 stood at 15.9% and total capital ratio at 19.9% incorporating the effects resulting from CRR33 • Capital ratios comfortably above requirements which also include the conservation buffer, O-SII buffer, countercyclical capital buffer and systemic risk buffer • Buffers for which there are limitations to results distribution: 599bp to CET1, 523bp to T1 and 556bp to total capital 16.5% 15.9% 4.5% 1.27% 4.13% 9.89% Sep 24 Sep 25 Requirements 20.8% 19.9% 8.0% 2.25% 4.13% 14.38% Sep 24 Sep 25 Requirements +6.0pp +5.6pp +9.7pp +10.1pp
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22 (Fully implemented, latest available data) (RWAs as a % of assets, latest available data) 23% 25% 38% 34% 39% FR DE ES IT 3.8% 5.4% 5.5% 6.9% 6.2% FR DE ES IT Stronger capital position Leverage ratio RWA density Leverage ratio of 6.2% as of September 2025 RWAs density in very conservative values (39% as of September 2025) comparing favourably with the values registered by most of the European markets 3.0%
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23 7.4% 0.5% 1.3% 2.7% Sep 25 (%LRE) CET13 AT1 T2 SP 20.8% 1.5% 3.7% 7.5% Sep 25 (%TREA) CET13 AT1 T2 SP • Resolution strategy: MPE (Multi Point of Entry)2 • BCP Resolution Group : Perimeter centred in Portugal • Preferred Resolution Measure: Bail-in • No subordination requirements have been applied to the BCP Resolution Group • As of September 30, 2025, BCP complied with MREL requirement, including CBR, applicable since July, 2025 (with a buffer of 4.6% of TREA, amounting to c. EUR 1,250 million) • Funding Plan execution • Early redemption of the EUR 500 million of SP on October 2, 2025 (not eligible as of September 30, 2025) • 500 million of Senior Preferred issued on June 24, 2025, with a maturity of 6 years and Call Option on the year 5 • 500 million of T2 issued on March 20, 2025, with a maturity of 12 years and Call Option on the year 7 • Repurchase of EUR 79.5M of the Tier 2 EUR 166.3M Notes due December 2027, in the context of a Tender Offer launched on March 13, 2025 MREL - Minimum Requirement for own funds and Eligible Liabilities | TREA – Total Risk Exposure Amount; LRE - Leverage Ratio Exposure; CBR - Combined Buffer Requirements *Preliminary data 1 Requirements covered by the 2024 Resolution Planning Cycle, applicable since July 2025 (24.89%). MREL requirements are subject to periodic review by the SRB and changes in the regulatory framework. 2 In addition to the resolution perimeter centered in Portugal, BIM in Mozambique and Bank Millennium in Poland were established as additional groups. With regard to Mozambique, as European rules do not apply, no minimum MREL requirement has been set. With regard to Bank Millennium were set minimum requirements of MREL - TREA of 15.36% and MREL - TEM of 5.91% from 29May 2025. 3 Including unaudited net income for 9M25. 4 Including RRE – Sectoral Systemic Risk Buffer and CCyB – Countercyclical Capital Buffer MREL Requirement1 + CBR4 MREL Requirement1 11.9% 28.84% 6.86% 33.5% MREL requirements and Funding Plan MREL position (BCP Resolution Group - 30 Sep 2025)*
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24 (Billion euros) 180% 321% NSFR (Net stable funding ratio) LCR (Liquidity coverage ratio) Robust liquidity position Liquidity ratios (CRD/CRR) Liquidity excess in ECB Net loans to deposits ratio Eligible assets +0.43 billion 1.20 1.63 Sep 24 Sep 25 28.2 29.1 69% 68% Sep 24 Sep 25
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25 Portugal 03
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26 (Million euros) (Million euros) (Million euros)(Million euros) Net income Net operating revenue Operating Costs Profitability in Portugal Impairment and other provisions 606.0 654.5 9M24 9M25 482.3 517.9 9M24 9M25 1,482.2 1,501.6 9M24 9M25 163.6 114.1 9M24 9M25 +7.4% +8.0% +1.3% -30.2%
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27 (Million euros) 1,003.4 +92.0 -277.7 -12.3 +142.6 +44.2 +41.2 -38.7 994.7 9M24 Performing credit volume effect Credit rate including hedges effect Impact of NPE reduction Deposit's interest effect Impact of securities portfolio Effect of wholesale cost Excess liquidity and other 9M25 NPE include loans to Customers only.. Net interest income Interest rates decrease, which significantly impacted the loan’s portfolio income, resulted in a net interest income decrease in 9M25 despite the positive effects in deposit costs, performing credit volume, in the yield from the securities portfolio and in the wholesale funding. -0.9% NIM 2.24% 2.10%
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28 (Million euros) (Million euros) 28.4 10.8 40.3 40.2 -27.7 -9.6 Equity earnings + dividends Net trading income Other operating income Commissions and other income Commissions Other income 9M24 9M25 41.1 41.4 9M24 9M25 YoY Banking fees and commissions 367.4 388.0 +5.6% Cards and transfers 119.3 116.8 -2.1% Loans and guarantees 60.9 66.5 +9.3% Bancassurance 81.2 92.5 +13.9% Management and maintenance of accounts 105.9 111.9 +5.7% Other fees and commissions 0.1 0.2 +154.3% Market related fees and commissions 70.3 77.5 +10.1% Securities operations 29.6 34.2 +15.4% Asset management and distribution 40.7 43.3 +6.3% Total fees and commissions 437.7 465.5 +6.3%
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29 (Million euros) Other administrative costs Depreciation Staff costs Operating costs Operating Costs Employees Branches 397 394 Sep 24 Sep 25 6,275 6,224 Sep 24 Sep 25 277.5 295.3 150.0 161.6 54.8 61.0482.3 517.9 9M24 9M25 +7.4%
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30 (Million euros) (Million euros) (Million euros) • NPE in Portugal total 803 million at the end of September 2025, a decrease of 242 million from September 2024 • The decrease of NPE from September 2024 is attributable mainly to a reduction of 213 million of other NPE • Cost of risk of 33bp in 9M25 and 33bp1 in 9M24, with the ratio loan- loss reserves / NPE ascending to 95% in September 2025 and 87% in September 2024 NPEs decrease Non-performing exposures (NPE) NPE build-up Loan impairment (net of recoveries) NPE include loans to Customers only 1Including an impairment reversal occurred in Q2’24, without this effect cost of risk would stand at 49bp in 9M24. Cost of risk Loan-loss reserves NPL>90d Other NPE 98.3 103.9 9M24 9M25 33bp1 33bp 910 767 406 377 639 426 1,045 803 Sep 24 Sep 25 -23.2% -242 million (Million euros) Sep 25 vs. Sep 24 Sep 25 vs. Dec 24 Opening balance 1,045 973 Net outflows/inflows -54 -58 Write-offs -34 -17 Sales -154 -95 Ending balance 803 803
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31 LLRs Real estate collateral Cash, other fin. collat. LLRs Real estate collateral Cash, other fin. collat. LLRs Real estate collateral Cash, other fin. collat. NPE include loans to Customers only. *By loan-loss reserves and collaterals. • Total coverage* ≥100%, for both individuals and companies, and for both NPE categories (NPL>90d and other NPE) • Coverage by loan-loss reserves are stronger in loans to companies, where real-estate collateral, usually more liquid and with a more predictable market value, accounts for a lower coverage than in loans to individuals: coverage by loan-losses was 106% for companies NPE as of September 2025, reaching 138% for companies NPL>90d NPE coverage NPE total coverage* NPL>90d total coverage* Other NPE total coverage* 34% 106% 95%1% 10% 5% 66% 25% 44%100% 141% 145% Individuals Companies Total 19% 84% 55%0% 15% 8%81% 26% 50% 100% 125% 114% Individuals Companies Total 50% 138% 94%1% 2% 2% 49% 23% 36%100% 164% 132% Individuals Companies Total
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32 (Million euros) (Million euros) (Million euros) 316 278 74 41 390 319 Sep 24 Sep 25 Corporate restructuring funds Turismo Algarve FCR fund * Sale value # properties sold Net value Impairment Book value Foreclosed assets and corporate restructuring funds Foreclosed assets Corporate restructuring funds Sales of foreclosed assets • Net foreclosed assets were down by 33% between September 2025 and September 2024 • 195 properties were sold in 9M25 compared to 504 properties sold in 9M24 • Restructuring funds amount to 319 million in September 2025 a decrease of 18.1% from September 2024 * The participation in Turismo Algarve FCR was reclassified to investments in associated companies in Q2’24 -19 million -33.0% 57 38 35 36 92 74 Sep 24 Sep 25 54 26 9M24 9M25 75 35 504 195 -18.1%
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33 (Milhões de euros*) (Milhões de euros*) Term deposits Other BS funds Off-BS funds Companies Personal Mortgage Demand deposits *Deposits, debt securities, assets under management, assets placed with Customers and insurance products (savings and investm ents). Customer funds and loans to Customers Total Customers Funds* Loans to Customers (gross) 27.5 30.1 26.0 26.0 1.3 1.5 14.8 16.4 69.6 74.0 Sep 24 Sep 25 (Billion euros) 18.0 18.8 2.5 2.6 19.2 21.1 39.7 42.6 Sep 24 Sep 25 (Billion euros) +6.3% +7.2%
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34 (Billion euros) (Billlion euros) Companies Personal Mortgage Performing loans portfolio Performing loans in Portugal Evolution of performing loans *Source: SWIFT Watch Analytics September 2025 **Source: ALF (June 2025). Performing loans to individuals increase by 9.7%, highlighting the mortgage loan portfolio which increase by 1.9 billion. Performing loans to companies increase by 6.0% The Bank maintains a prominent position in the corporate segment: ✓ PME Leader programme reference Bank, winner of 6 of the last 7 editions with a 29% market share in 2024; ✓ Leadership in Inovadora COTEC programme for the 5th consecutive year, with a market share of 48%; ✓ Main Bank for companies: Best Bank for companies, Most innovative Bank, Most efficient Bank and Bank with the Most appropriate products according to DATAE H1’25; ✓ Leading Bank in Sustainable Finance in Portugal 2025 by Global Finance; ✓ Leading Bank in Trade Finance in Portugal according to Euromoney with a market share of 24.1%*; ✓ Leading Bank for SMEs - Euromoney Award given based on the investment made in Digitalization and Innovation and personalized Financial Support to SMEs; ✓ Leading Bank in Banco Fomento Guarantees; ✓ Leading Bank in Confirming, with a market share of 28.8%;** ✓ Leading Bank in Leasing, with a market share of 21.5%;** ✓ Leading Bank in EIF/EIB: EIF InvestEU; ✓ Distinct digital offer. These awards are the exclusive responsibility of the attributing entities. +3.1 billion +1.9 +0.1 +1.038.7 41.8 Sep 24 Mortgages Personal Companies Sep 25 17.4 18.4 2.4 2.5 18.9 20.9 38.7 41.8 Set 24 Set 25 +9.7% +8.0% +6.0%
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35 International operations 04
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36 108.1 121.5 9M24 9M25 Contribution from international operations Contribution from international operations 9M24 9M25 Contribution from international operations (Million euros) (Million euros1) % 1 Subsidiaries’ net income presented for 9M24 reflect the same exchange rate as of 9M25 for comparison purposes. | 2 The earnings decrease in 9M25 reflects the booking of impairments related with the downgrade of the public debt rating. +12.4% Poland 129.1 202.0 56.4% Mozambique 2 61.8 25.4 -58.9% Other 1.8 3.3 77.8% Exchange rate effect -0.2 -- -- Net income international operations 192.7 230.7 19.8% Non-controlling int. (Poland+Mozambique) -84.6 -109.3 29.2% Contribution from international operations 108.1 121.5 12.4%
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37 (Million euros1) (Million euros 1) (Million euros 1) Evolução positiva do resultado líquidoBank Millennium Net income Net operating revenue Operating Costs Net income Resol. Fund + DGF 1FX effect excluded.€/Zloty constant at September 2025 levels: Income Statement 4.23; Balance Sheet 4.26. | 2 Excludes FX mortgage legal risk provisions, as well as costs of litigations and settlements with Clients, estimated bank tax until May 2024 and credit moratorium on Zloty mortgage loans (2024) | 3 Does not include provisions for legal risk on CHF mortgages of Euro Bank (guaranteed by Société Générale). | 4 Polish bank tax of 71 million. 3m WIBOR (average) Net income Excluding extraordinary effects2 • Net income of 202.0 million in 9M25 which compares with 129.1 million in the same period of last year (+56.4%) • Net income influenced by charges associated with the CHF mortgage loan portfolio which decreased 30.9% form 9M24 (380.2 million out of which 310.4 million in provisions3) and Polish bank tax4payment • Customer funds increased by 14.2% • Loans to Customers decreased by 1.2%, while loans to companies increased by 12.2% • Net income Excluding extraordinary effects2 up by 2.2% (11.7 million) compared with the same period of last year • CET1 ratio (=T1) of 14.4% and total capital ratio of 16.0%, above the minimum requirements of 8.3% (9.8% for T1) and 11.8% respectively 376.9 417.2 14.4 30.9391.3 448.1 9M24 9M25 1,131.7 1,220.2 9M24 9M25 5.36% +14.5% +7.8% 129.1 202.0 542.7 554.4 9M24 9M25 +2.2% 5.86% +56.4%
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38 (Million euros*) (Million euros*) (Million euros*)(Million euros*) 13.014.4 18.031.5 71.045.9 101.9 9M24 9M25 139.1 135.8 41.9 64.5 181.0 200.3 9M24 9M25 987.9 1,019.9 9M24 9M25 Staff costs Other Resol. Fund NIM Fees and commissions Other Aumento expressivo da margem financeiraNet interest income increase Operating costsNet interest income ContributionsCommissions and other income Banking tax on assets DGF *FX effect excluded. €/Zloty constant at September 2025 levels: Income Statement 4.23. Balance Sheet 4.26. +122.0% +3.2% +10.7% (Million euros*; does not include tax on assets and contribution to the resolution fund and to the DGF) 209.6 238.0 181.7 210.1 391.3 448.1 9M24 9M25 +14.5%4.10%4.35%
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39 (Million euros*) (Million euros*) (Million euros*) Cost of risk Credit quality Loan-loss reserves Loan impairment (net of recoveries) NPL>90d Coverage ratio NPL>90d Credit ratio NPL>90d • NPL>90d accounted for 2.2% of total loans as of September 2025, in line with the same period of last year • Coverage of NPL>90d by loan-loss reserves at 146% as of September 2025 (154% as of September 2024) • Cost of risk at 32bp 32bp53bp 611.6 590.7 Sep 24 Sep 25 154% 146% 397.2 404.7 Sep 24 Sep 25 2.2%2.2% 68.8 30.7 9M24 9M25 *FX effect excluded. €/Zloty constant at September 2025 levels: Income Statement 4.23. Balance Sheet 4.26.
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40 (Million euros*) (Million euros*) Demand deposits Term deposits Off-BS funds Companies Personal Mortgage Customers funds and loans to Customers Customers funds Loans to Customers (gross) 17,174 19,546 9,563 10,523 2,495 3,32829,231 33,397 Sep 24 Sep 25 +14.2% 4,320 4,848 4,614 4,743 9,398 8,529 18,332 18,120 Sep 24 Sep 25 -1.2% *FX effect excluded. €/Zloty constant at September 2025 levels: Income Statement 4.23. Balance Sheet 4.26. +13.8% +12.2%
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41 1,475 1,170 1,083 1,029 9041,084 1,261 1,103 1,087 1,209 Q3'24 Q4'24 Q1'25 Q2'25 Q3'25 CHF mortgages decrease by 34% year-on-year CHF mortgage portfolio New individual lawsuits and extrajudicial agreements Cumulative provisions for legal risks** % of gross loan portfolio after legal risk provisions As a % of CHF mortgage portfolio Individual lawsuits Gross loan portfolio before legal risk provisions # New individual lawsuits # Extrajudicial agreements Excludes Euro Bank. | *FX effect excluded. €/Zloty constant at September 2025 levels: Income Statement 4.23; Balance Sheet 4. 26. | **Actual outstanding B/S provisions differ from the sum of P&L charges due to FX movements and utilizations among others. (Number of cases) (Number of cases) (Million euros*) (Billion euros*) 22,260 21,854 21,092 20,294 18,950 9M24 2024 3M25 6M25 9M25 7.2 1.6 1.5 1.4 1.2 1.1 2008 9M24 2024 3M25 6M25 9M25 1,807 1,812 1,723 1,734 1,635 9M24 2024 3M25 6M25 9M25 54.6% 122%111% 1.5% 132% 2.2% 1.4% 142% 1.1% 150% 0.8% -12% -34%
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42 (Million euros*) (Million euros*) (Million euros*) MIMO rate (average) Net income Net operating revenue Operating costs Millennium bim's results influenced by the context *FX effect excluded. €/Metical constant at September 2025 levels: Income Statement 71.13; Balance Sheet 75.05. • Net income of 25.4 million, a reduction of 36.4 million compared to the same period of last year • Increase of 40.9 million in provisions and impairments compared to the same period last year, including impacts resulting from the downgrade of the sovereign debt rating • Operating profit up by 1.3% compared to the same period of last year • Customer funds increased by 5.7% • Loans to Customers increased by 3.9% • Capital ratio of 42.4% 95.1 103.2 9M24 9M25 +8.5% 190.8 200.2 9M24 9M25 11.44%15.56% 61.8 25.4 9M24 9M25 -58.9% +4.9%
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43 (Million euros*) (Million euros*) (Million euros*) NIM Commissions Other Staff costs Other Cost to income Resilient net interest income Net interest income Operating costs Commissions and other income BranchesEmployees 29.3 27.5 14.3 13.5 43.5 40.9 9M24 9M25 38.9 43.1 56.3 60.1 95.1 103.2 9M24 9M25 +8.5%147.2 159.2 9M24 9M25 195 195 Sep 24 Sep 25 8.2%8.0% 51.6%49.9% 2,622 2,688 Sep 24 Sep 25 *FX effect excluded. €/Metical constant at September 2025 levels: Income Statement 71.13; Balance Sheet 75.05. -6.0% +8.1%
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44 (Million euros*) (Million euros*) (Million euros*) Cost of risk Loan-loss reserves Loan impairment (net of recoveries) Credit quality Cost of risk Coverage ratio NPL>90d Credit ratio NPL>90d NPL>90d • NPL>90d ratio of 3.5% as of September 2025, with coverage by loan-loss reserves of 127% on the same date • Cost of risk of 124bp in 9M25 compared to 48bp in 9M242.4 6.4 9M24 9M25 124bp48bp 26.3 29.5 Sep 24 Sep 25 22.9 23.2 Sep 24 Sep 25 115% 127%3.5%3.6% *FX effect excluded. €/Metical constant at September 2025 levels: Income Statement 71.13; Balance Sheet 75.05.
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45 (Million euros*) (Million euros*) Demand deposits Term deposits Companies Personal Mortgage Customers funds Loans to Customers (gross) Business volumes 399 379 223 268 9 9631 656 Sep 24 Sep 25 +3.9% 1,069 1,162 985 1,007 2,053 2,170 Sep 24 Sep 25 +5.7% *FX effect excluded. €/Metical constant at September 2025 levels: Income Statement 71.13; Balance Sheet 75.05.
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46 Key figures 05
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47 Deliver more value Main targets for strategic cycle 2025-2028 9M25 2028Metrics S&P Global CSA (percentile) Top quartileTop quartileESG commitment Cost-to-income Portugal Cost of risk Portugal < 40% < 37% < 50 bps < 45 bps 37% 34% 31 bp 33 bp Execution discipline ROE Shareholder distribution Superior returns > 13.5%14.6% 2024 activity 72%3 Robust capital CET1 ratio > 13.5%15.9%1 > 190€bn > 120€bn > 8mn > 3mn 171€bn 117€bn 7.2mn 2.9mn Healthy organic growth Business volumes Portugal Number of customers Portugal Mobile customers Portugal >80% > 75% 74% 66% Up to 75% of cumulative net income of 4.0- 4.5€bn in 2025-20282 subject to supervisory approval and achievement of Plan’s relevant capital & business targets in Portugal and in the international area and fulfillment of CET1 target 1 Fully implemented estimated ratio (September 2025) including 25% of the unaudited net income of 9M25. 2 Including payout and share buyback, from 2025 through 2028. 3 Including a 50% dividend payout of 2024 earnings and the share buyback programme of 200 million euros, completed during 2025.
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48 Millennium bcp Foundation Society COMMITMENT TO PEOPLE AND SOCIETY Sustainability Millennium bcp Gallery (National Museum of Contemporary Art): Exhibition “Mily Possoz. A Poetics of Space.” The largest showcase of works by one of the most important figures of Portuguese modernism Lisbon Architecture Triennale: 7th edition, three main exhibitions: Fluxes (MAAT), Spectres (MUDE) and Lighter (MAC/CCB).Lisbon Triennale Millennium bcp Awards: Début Award, Universities Award, and Lifetime Achievement Award BOCA – Biennial of Contemporary Arts 2025: 5th edition of the cultural event in Lisbon and Madrid, featuring initiatives across various artistic fields – performing arts, visual arts, music, and cinema EGEAC Lisbon Culture – Accessible Museum Project: an initiative that addresses barriers to accessing cultural spaces which prevent or hinder the cultural participation of people with disabilities or sensory impairments Millennium employees contribute to the School Supplies Collection Campaign promoted by Oeiras Community Valley (OCV), a collaborative network of which Millennium bcp is a member Millennium bcp supports individual and corporate Clients affected by wildfires with insurance and credit solutions, reinforcing its commitment to being close to those in need Millennium bcp launches a customer service with Portuguese Sign Language interpreters, enabling the deaf community to access the Bank’s services autonomously Millennium volunteers join efforts to help restore a woodland area as part of the “Oxygen” project by Cascais Ambiente, contributing to the conservation of ecosystems Millennium bcp joins the “2025 SDG Flag Day” initiative, raising the SDG flag at its headquarters in TagusPark and reinforcing its alignment with the United Nations 2030 Agenda Millennium bcp further reduced its ecological footprint in 2024, materialising its commitment to environmental preservation and the sustainable use of natural resources in the course of its operations Millennium bcp recognised for the fifth consecutive year in the Financial Times’ “Europe’s Climate Leaders 2025” ranking, as a leading company in the fight against climate change Millennium bcp makes the SIBS ESG Platform available on its Corporate website, allowing Clients to report ESG data free of charge and securely, with access to a dedicated support team
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49 EXTERNAL RECOGNITION Millennium bcp: 2025 Consumer’s Choice, in the “Large Banks” category for the 5th consecutive year Millennium bcp: 2025 Five stars Bank, “Large Banks” category Millennium bcp: 2025 Five stars Bank, “Mobile apps” category ActivoBank: 2025 Five stars Bank, for the 2nd time, “Digital banking” category Millennium bcp distinguished at the 14th edition of the 2025 Euronext Lisbon Awards Millennium bcp distinguished by "ComparaJá" in the 2025 mortgage loans awards Millennium bcp Best Trade Finance Bank in Portugal Millennium bcp: Best Investment Bank in Portugal Bank Millennium: Top Employer Polska 2025 Bank Millennium: Best Bank 2025 Bank Millennium: Golden Bank 2025, best multi- channel service quality Millennium bcp: Best provider in Portugal of Structured Products by Structured Retail Products (SRP) Millennium bcp: Leadership in the ”Inovadora COTEC” programme Bank Millennium: 2nd place in the Customer Relations Star category Bank Millennium: Awarded with the Service Quality Star" Bank Millennium: Silver Grand Prize at the Polish Contact Center Awards Millennium bcp: Best Bank for SMEs according to Euromoney’s magazine Bank Millennium: Best Consumer Digital Bank 2025 Bank Millennium: Best Digital Bank for Consumers 2025
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50 Appendix 06
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51 (Milhões de euros*) (Milhões de euros*) ✓ The sovereign debt portfolio totalled 32.4 billion, 25.2 billion of which maturing in more than 2 years ✓ The Portuguese sovereign debt portfolio totalled 2.4 billion, Polish amounted to 10.4 billion and Mozambican amounted to 0.6 billion; “Other” includes, among other, sovereign debt from European Union (5.7 billion), Spain (4.7 billion), France (3.6 billion), Italy (2.0 billion), Belgium (1.1 billion), Austria (0.9 billion) and Ireland (0.5 billion) (Consolidated, million euros) Sovereign debt portfolio Sovereign debt portfolio Sovereign debt maturity ≤1y: 12% >1y, ≤2y: 10% >2y, ≤5y: 56% >5y, ≤8y: 20% >8y, ≤10y: 2% >10y: 0% Sep 24 Dec 24 Mar 25 Jun 25 Sep 25 YoY QoQ Portugal 6,207 4,453 2,787 2,628 2,382 -62% -9% T-bills and other 947 985 663 704 456 -52% -35% Bonds 5,260 3,468 2,124 1,924 1,926 -63% +0% Poland 7,306 7,958 8,783 9,380 10,386 +42% +11% Mozambique 494 643 607 551 582 +18% +6% Other 13,533 14,973 18,460 18,877 19,092 +41% +1% Total 27,539 28,027 30,637 31,436 32,442 +18% +3%
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52 *Includes financial assets at fair value through other comprehensive income (11,089 million) and financial assets at amortized cost (20,758 million). Sovereign debt portfolio breakdown Million euros Portugal Poland Mozambique Other Total Trading book 502 175 0 98 775 ≤ 1 year 495 1 0 98 595 > 1 year and ≤ 2 years 2 86 0 0 89 > 2 years and ≤ 5 years 2 54 0 0 56 > 5 years and ≤ 8 years 1 4 0 0 5 > 8 years and ≤ 10 years 0 20 0 0 20 > 10 years 1 10 0 0 10 Banking book* 1,880 10,211 582 18,993 31,667 ≤ 1 year 4 1,372 220 1,800 3,397 > 1 year and ≤ 2 years 2 2,152 91 930 3,174 > 2 years and ≤ 5 years 1,367 5,885 224 10,548 18,024 > 5 years and ≤ 8 years 365 559 48 5,485 6,457 > 8 years and ≤ 10 years 82 242 0 231 555 > 10 years 60 0 0 0 60 Total 2,382 10,386 582 19,092 32,442 ≤ 1 year 500 1,373 220 1,898 3,992 > 1 year and ≤ 2 years 4 2,238 91 930 3,263 > 2 years and ≤ 5 years 1,369 5,939 224 10,548 18,079 > 5 years and ≤ 8 years 366 564 48 5,485 6,463 > 8 years and ≤ 10 years 82 262 0 231 575 > 10 years 61 10 0 0 71
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53 Carteira de crédito Loans per collateral LTV of the mortgage portfolio (Consolidated) Breakdown ✓ Loans to companies accounted for 39% of the loan portfolio, including 6% to construction and real-estate sectors, as of September 2025 ✓ Mortgage accounted for 48% of the loan portfolio, with low delinquency levels and an average LTV of 61% ✓ 82% of the loan portfolio is collateralised Diversified and collateralised portfolio (Portugal)(Consolidated) Mortgage 48% Personal/ other 13% Companies 39% Real guarantees 57% Other guarantees 25% Unsecured 18% 0-40 21% 40-50 13% 50-60 15% 60-75 27% 75-80 9% 80-90 13% >90 3%
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54 *Includes dividends from equity instruments, other net operating income, net trading income and equity accounted earnings Consolidated net income (Million euros) 9M24 9M25 YoY Impact on earnings Net interest income 2,110.8 2,166.6 +2.6% +55.8 Net fees and commissions 604.6 628.8 +4.0% +24.1 Other income* -24.1 29.5 +53.6 Net operating revenue 2,691.3 2,824.9 +5.0% +133.6 Staff costs -522.7 -575.3 +10.1% -52.7 Other administrative costs and depreciation -423.1 -457.2 +8.1% -34.1 Operating costs -945.7 -1,032.5 +9.2% -86.8 Profit before impairment and provisions 1,745.6 1,792.4 +2.7% +46.8 Results on modification -62.4 -5.4 +91.4% +57.0 Loans impairment (net of recoveries) -167.3 -141.0 -15.7% +26.3 Other impairment and provisions -460.1 -444.2 -3.4% +15.8 Results of modification, Impairment and provisions -689.8 -590.6 -14.4% +99.2 Profit before income tax 1,055.8 1,201.7 +13.8% +145.9 Net income from discontinued operations 0.3 0.0 -100.0% -0.3 Income taxes -262.8 -317.1 +20.7% -54.3 Non-controlling interests -79.2 -108.7 +37.2% -29.5 Net income 714.1 775.9 +8.7% +61.8
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55 Consolidated balance sheet (Million euros) * * * Stated 30 September 2025 30 September 2024 ASSETS Cash and deposits at Central Banks 3,940.9 4,305.5 Loans and advances to credit institutions repayable on demand 236.1 231.3 Financial assets at amortised cost Loans and advances to credit institutions 1,119.3 1,272.2 Loans and advances to customers 56,046.1 53,937.0 Debt securities 24,975.8 20,090.5 Financial assets at fair value through profit or loss Financial assets held for trading 1,385.6 1,797.7 Financial assets not held for trading mandatorily at fair value through profit or loss 340.2 377.2 Financial assets designated at fair value through profit or loss 37.4 34.7 Financial assets at fair value through other comprehensive income 15,572.0 12,800.9 Hedging derivatives 23.4 38.9 Investments in associates 435.8 441.5 Non-current assets held for sale 69.2 42.8 Investment property 14.4 38.5 Other tangible assets 571.8 585.7 Goodwill and intangible assets 297.0 248.3 Current tax assets 21.8 10.2 Deferred tax assets 1,873.2 2,289.2 Other assets 1,976.8 1,684.1 TOTAL ASSETS 108,937.0 100,226.3 30 September 2025 30 September 2024 LIABILITIES Financial liabilities at amortised cost Deposits from credit institutions and other funds 1,435.2 972.4 Deposits from customers and other funds 86,349.8 80,059.0 Non-subordinated debt securities issued 4,208.1 3,294.5 Subordinated debt 1,406.1 1,418.6 Financial liabilities at fair value through profit or loss Financial liabilities held for trading 264.8 201.9 Financial liabilities designated at fair value through profit or loss 3,473.3 3,466.3 Hedging derivatives 38.8 42.0 Provisions 1,247.5 1,110.6 Current tax liabilities 76.8 107.6 Deferred tax liabilities 7.4 6.5 Other liabilities 1,727.6 1,508.9 TOTAL LIABILITIES 100,235.3 92,188.2 EQUITY Share capital 3,000.0 3,000.0 Share premium 16.5 16.5 Other equity instruments 400.0 400.0 Legal and statutory reserves 464.7 384.4 Treasury shares (200.0) - Reserves and retained earnings 3,038.3 2,451.4 Net income for the period attributable to Bank's Shareholders 775.9 714.1 Non-controlling interests 1,206.4 1,071.7 TOTAL EQUITY 8,701.7 8,038.0 TOTAL LIABILITIES AND EQUITY 108,937.0 100,226.3
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56 (Million euros) Consolidated income statement per quarter Net interest income 713.2 720.1 721.1 723.0 722.5 Dividends from equity instruments 0.0 0.2 0.0 0.8 0.0 Net fees and commission income 206.8 208.1 201.4 212.4 215.0 Other net operating income -25.1 -37.0 -56.3 -41.3 1.0 Net trading income 34.6 -24.3 29.5 26.3 24.8 Equity accounted earnings 12.2 15.1 13.4 17.6 13.6 Net operating revenues 941.8 882.2 909.1 938.8 976.9 Staff costs 182.9 199.3 188.1 195.2 192.0 Other administrative costs 107.8 123.6 113.0 110.4 118.2 Amortisation and depreciation 36.2 37.5 38.6 38.2 38.7 Operating costs 326.9 360.4 339.7 343.8 349.0 Profit bef. impairment and provisions 614.9 521.8 569.4 595.0 627.9 Results on modification -1.5 -6.1 -4.2 -0.9 -0.3 Loans impairment (net of recoveries) 69.2 16.0 55.6 34.1 51.2 Other impairm. and provisions 168.3 214.1 131.4 149.2 163.6 Profit before income tax 375.9 285.6 378.2 410.7 412.8 Income tax 125.0 78.4 112.2 106.2 98.7 Net income after income tax from continuing operations 250.9 207.2 266.0 304.5 314.1 Net income from discontinued operations 0.3 0.0 0.0 0.0 0.0 Non-controlling interests 22.4 14.9 22.5 45.7 40.5 Net income 228.8 192.3 243.5 258.8 273.6 Quarterly 3Q 24 3Q 252Q 251Q 254Q 24
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57 (Million euros) For the 9-month periods ended September 30, 2024 and 2025 Consolidated income statement Sep 2 4 Sep 2 5 Δ % Sep 2 4 Sep 2 5 Δ % Sep 2 4 Sep 2 5 Δ % Sep 2 4 Sep 2 5 Δ % Sep 2 4 Sep 2 5 Δ % Sep 2 4 Sep 2 5 Δ % Interest income 3,558 3,301 -7.2% 1 ,809 1 ,484 -1 8.0% 1 ,749 1 ,81 6 3.8% 1 ,528 1 ,61 0 5.4% 221 206 -6.8% 0 0 -- Interest expense 1 ,448 1 ,1 34 -21 .7% 806 489 -39.2% 642 645 0.4% 572 598 4.4% 70 47 -32.7% 0 0 -- N et interest inco me 2,111 2,167 2.6% 1,003 995 -0.9% 1,107 1,172 5.8% 956 1,013 5.9% 151 159 5.1% 0 0 -- Dividends from equity instruments 1 1 -2.3% 0 0 -- 1 1 -2.3% 1 1 -2.3% 0 0 -- 0 0 -- Intermediatio n margin 2,112 2,167 2.6% 1,003 995 -0.9% 1,108 1,173 5.8% 957 1,013 5.9% 151 159 5.1% 0 0 -- Net fees and commission income 605 629 4.0% 438 465 6.3% 1 67 1 63 -2.2% 1 37 1 36 -0.7% 30 27 -8.7% 0 0 -- Other net operating income -98 -97 1 .4% -28 -1 0 65.4% -70 -87 -23.8% -72 -88 -22.4% 2 1 -40.0% 0 0 >1 00% B asic inco me 2,618 2,700 3.1% 1,414 1,451 2.6% 1,205 1,249 3.7% 1,022 1,061 3.9% 183 188 2.5% 0 0 <-100% Net trading income 29 81 >1 00% 28 11 -61 .9% 1 70 >1 00% -1 1 58 >1 00% 12 11 -2.9% 0 0 <-1 00% Equity accounted earnings 44 45 1 .9% 40 40 -0.4% 3 4 29.3% 0 0 -- 1 1 -1 8.6% 2 3 62.9% N et o perating revenues 2,691 2,825 5.0% 1,482 1,502 1.3% 1,209 1,323 9.4% 1,011 1,120 10.8% 196 200 2.0% 2 3 62.9% Staff costs 523 575 1 0.1 % 278 295 6.4% 245 280 1 4.3% 205 237 1 5.5% 40 43 7.8% 0 0 -- Other administrative costs 31 6 342 8.2% 1 50 1 62 7.8% 1 66 1 80 8.6% 1 22 1 35 1 1 .0% 44 45 2.1 % 0 0 -- Amortisation and depreciation 1 07 116 7.6% 55 61 1 1 .4% 53 55 3.7% 39 39 1 .6% 14 15 9.7% 0 0 -- Operating co sts 946 1 ,033 9.2% 482 51 8 7.4% 463 51 5 1 1 .0% 366 41 1 1 2.5% 98 1 03 5.5% 0 0 -- P ro fit bef. impairment and pro visio ns 1,746 1,792 2.7% 1,000 984 -1.6% 746 809 8.5% 645 708 9.8% 98 97 -1.5% 2 3 62.9% Results on modification -62 -5 91 .4% 0 0 -- -62 -5 91 .4% -62 -5 91 .4% 0 0 -- 0 0 -- Loans impairment (net of recoveries) 1 67 1 41 -1 5.7% 98 1 04 5.7% 69 37 -46.2% 67 31 -53.9% 2 6 >1 00% 0 0 -- Other impairm. and provisions 460 444 -3.4% 65 10 -84.3% 395 434 9.9% 385 388 0.7% 10 46 >1 00% 0 0 1 00.0% P ro fit befo re inco me tax 1,056 1,202 13.8% 836 870 4.0% 219 332 51.4% 131 284 >100% 86 44 -48.6% 2 3 62.9% Income tax 263 31 7 20.7% 236 21 6 -8.5% 27 1 01 >1 00% 4 82 >1 00% 23 19 -1 8.0% 0 0 -- N et inco me after inco me tax fro m co ntinuing o peratio ns 793 885 11.6% 601 654 8.9% 192 231 20.0% 127 202 59.0% 63 25 -59.8% 2 3 62.9% Net income from discontinued operations 0 0 -1 00.0% 0 0 -- 0 0 -1 00.0% 0 0 -1 00.0% Non-controlling interests 79 1 09 37.2% -5 -1 89.2% 85 1 09 29.2% 0 0 -- 0 0 -- 85 1 09 29.2% N et inco me 714 776 8.7% 606 654 8.0% 108 121 12.4% 127 202 59.0% 64 25 -60.0% -83 -106 -28.4% M illennium bim (M o z.) Internatio nal o peratio ns Gro up P o rtugal T o tal B ank M illennium (P o land) Other int. o peratio ns
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58 Glossary (1/2) Assets placed with Customers – amounts held by Customers in the context of the placement of third-party products that contribute to the recognition of commissions. Balance sheet Customer funds – deposits and other resources from Customers and debt securities placed with Customers. Business Volumes - corresponds to the sum of total Customer funds and loans to Customers (gross). Commercial gap – loans to Customers (gross) minus on-balance sheet Customer funds. Core income - net interest income plus net fees and commissions income. Core net income - net interest income plus net fees and commissions income deducted from operating costs. Cost of risk, net (expressed in basis points) - ratio of loans impairment (P&L) accounted in the period to loans to Customers at amortized cost and debt instruments at amort ized cost related to credit operations before impairment at the end of the period. Cost to core income - operating costs divided by core income. Cost to income – operating costs divided by net operating revenues. Coverage of non-performing exposures by impairments – loans impairments (balance sheet) divided by the stock of NPE. Coverage of non-performing loans by impairments – loans impairments (balance sheet) divided by the stock of NPL. Coverage of overdue loans by impairments - loans impairments (balance sheet) divided by overdue loans. Coverage of overdue loans by more than 90 days by impairments - loans impairments (balance sheet) divided by overdue loans by more than 90 days. Debt instruments – non-subordinated debt instruments at amortized cost and financial liabilities measured at fair value through profit or loss ( debt securities and certificates). Debt securities placed with Customers - debt securities issued by the Bank and placed with Customers. Deposits and other resources from Customers – Deposits from Customers at amortized cost and Customer deposits at fair value through profit or loss. Dividends from equity instruments - dividends received from investments classified as financial assets at fair value through other comprehensive income and from financial assets held for trading. Equity accounted earnings - results appropriated by the Group related to the consolidation of entities where, despite having some influence, the Group do es not control the financial and operational policies. Insurance products – includes unit linked saving products and retirement saving plans (“PPR”, “PPE” and “PPR/E”). Loans impairment (balance sheet) – balance sheet impairment related to loans to Customers at amortized cost, balance sheet impairment associated with debt instr uments at amortized cost related to credit operations and fair value adjustments related to loans to Customers at fair value through profit or loss. Loans impairment (P&L) – impairment (net of reversals and net of recoveries - principal and accrual) of financial assets at amortized cost for loans t o Customers and for debt instruments related to credit operations. Loans to Customers (gross) – loans to Customers at amortized cost before impairment, debt instruments at amortized cost associated to credit operations be fore impairment and loans to Customers at fair value through profit or loss before fair value adjustments. Loans to Customers (net) - loans to Customers at amortized cost net of impairment, debt instruments at amortized cost associated to credit operations ne t of impairment and balance sheet amount of loans to Customers at fair value through profit or loss. Loan to Deposits ratio (LTD) – loans to Customers (net) divided by deposits and other resources from Customers. Loan to value ratio (LTV) – mortgage amount divided by the appraised value of property.
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59 Glossary (2/2) Net commissions - net fees and commissions income. Net interest margin (NIM) - net interest income for the period as a percentage of average interest earning assets. Net operating revenues - net interest income, dividends from equity instruments, net commissions, net trading income, other net operating income and equity accounted earnings. Net trading income – gains/(losses) on financial operations at fair value through profit or loss, foreign exchange gains/(losses), gains/(losses) on hedge accounting and gains/(losses) arising from derecognition of financial assets and liabilities not measured at fair value through profit or loss. Non-performing exposures (NPE) non-performing loans and advances to Customers (includes loans to Customers at amortised cost, loans to Customers at fair value through profit or loss and, from 2023, debt instruments at amortised cost associated to credit operations before impairment ) more than 90 days past -due or unlikely to be paid without collateral realisation, if they recognised as defaulted or impaired. Non-performing loans (NPL) – overdue loans (loans to Customers at amortised cost, loans to Customers at fair value through profit or loss and, from 2023, debt instruments at amortised cost associated to credit operations before impairment) more than 90 days past due including the non -overdue remaining principal of loans, i.e. portion in arrears, plus non-overdue remaining principal. Off-balance sheet Customer funds – assets under management, assets placed with Customers and insurance products (savings and investment) subscribed by Customers. Operating costs - staff costs, other administrative costs and depreciation. Other impairment and provisions – impairment (net of reversals) for loans and advances of credit institutions classified at amortized cost, impairment for fina ncial assets (classified at fair value through other comprehensive income and at amortized cost not associated with credit operations), impairment for other assets, namely assets received as payment in kind, investments in associated companies and goodwill of subsidiaries and other provisions. Other net income – dividends from equity instruments, net commissions, net trading income, other net operating income and equity accounted earni ngs. Other net operating income – net gains from insurance activity, other operating income/(loss) and gains/(losses) arising from sales of subsidiaries and ot her assets. Profit before impairment and provisions – net operating revenues deducted from operating costs. Return on average assets (Instruction from the Bank of Portugal no. 16/2004) – net income (before tax and non-controlling interests) divided by the average total assets (weighted average of the average of monthly net assets in the period). Return on average assets (ROA) – net income (before minority interests) divided by the average total assets (weighted average of the average of monthly net as sets in the period). Return on equity (Instruction from the Bank of Portugal no. 16/2004) – net income (before tax) divided by the average attributable equity + non-controlling interests (weighted average of the average of monthly equity in the period). Return on equity (ROE) – net income (after minority interests) divided by the average attributable equity, deducted from preference shares and other capital instruments (weighted average of the average of monthly equity in the period). Return on tangible equity (ROTE) – net income (after minority interests) deducted from Coupons on AT1 and from goodwill impairment (if they exist), divided by t he average equity, deducted from goodwill and intangible assets (weighted average of the average of monthly equity in the period), with Equity = Equity - preference shares - other capital instruments, net of treasury shares of the same nature - non-controlling interests. Securities portfolio - debt instruments at amortized cost not associated with credit operations (net of impairment), financial assets at fair value through profit or loss (excluding the ones related to loans to Customers and trading derivatives), financial assets at fair value through other comprehensive income and assets wit h repurchase agreement. Spread - increase (in percentage points) to the index used by the Bank in loans granting or fund raising. Total Customer funds - balance sheet Customer funds and off-balance sheet Customer fund. Total Customer funds - balance sheet Customer funds and off-balance sheet Customer funds.
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60 INVESTOR RELATIONS DIVISION Bernardo Collaço, Head investors@millenniumbcp.pt BANCO COMERCIAL PORTUGUÊS, S.A. Registered Office: Praça D. João I, 28, Oporto, Share Capital: EUR 3,000,000,000.00. Registered at the Commercial Registry of Oporto, with the single commercial and tax identification number 501 525 882 and the. LEI: JU1U6SODG9YLT7N8ZV32 EQUITY Alexandre Moita +351 211 131 321 DEBT AND RATINGS Luís Morais +351 211 131 337