#1novobanco INVESTOR PRESENTATION & PERFORMANCE REVIEW October 2022#2DISCLAIMER This document may include some statements related to the novobanco group that do not constitute a statement of financial results or other historical information. These statements, which may include forward-looking statements, targets, objectives, forecasts, estimates, projections, expected cost savings, statements regarding possible future developments or results of operations, and any forward-looking statement that includes statements such as "believes", "expects", "aims or intends", "may" or similar expressions, constitute or may constitute forward-looking statements. By their nature, forward-looking statements are inherently predictive, speculative, and involve risk and uncertainty. There are many factors that can lead to results and developments that differ materially from those expressed or implied in forward-looking statements. These factors include, but are not limited to, changes in economic conditions in countries where the novobanco group has operations, tax or other policies adopted by various governments or regulatory entities in Portugal and in other jurisdictions, levels of competition from other Banks or financial entities, and future exchange rates and interest rate levels. novobanco expressly disclaims any obligation or commitment to make any forward-looking review included in this document to reflect any event or change in future circumstances occurring after the date hereof. This document includes unaudited financial information. Novo Banco, S.A. Head Office: Avenida da Liberdade, n.º 195, 1250-142 Lisbon, Portugal Registered at Lisbon Commercial Registry, under the single registration and tax identification number 513 204 016 Share Capital: 6 054 907 314 Euros represented by 9 954 907 311 shares novobanco 2#3AGENDA Overview of novobanco 1H22 Financial Performance Annex novobanco 3#4novobanco is a Portuguese bank focused on serving the domestic market, which is on track to successfully deliver the restructuring process novobanco 1.5 million Number of Clients as of Jun-22 ~€46bn Total Assets ~€230bn Nominal GDP Expected in 2022 ~€250bn Lending Assets Banks total assets at €450bn ~€25.5bn Population Total Deposits ~10 million ~€360bn (<15 yrs: 13%; 15-64yrs: 65%; >65yrs: 24%) Households: €183mn (51%) 56% Financial & Non-financial: €84bn Leading player in Portuguese market Gross Loan Book +2.6% YoY Weight of Corporates in the loan book Branches 304 ~70% Top 5 Banks share Of Total lending assets 10.7% % of total loans novobanco market share 49% +22 corporate centers Commercial Cost to Income recurrent basis 11.0% ROTE 1H22 pre-tax novobanco 4#5novobanco is now geared towards commercial transformation after completion of its restructuring process 2014 2017 2020 End of 2021 2022 beyond Creation of novobanco Lone Star acquisition Restructuring cycle Renovation & Relaunch 囚 Bi Do می transformation سى • Creation of novobanco following the resolution applied to BES by Banco de Portugal • Lone Star acquires 75% share capital of novobanco, with the remaining 25% being owned by Fundo de Resolucao •Reduction of legacy exposure and delivering commitments, demonstrating resilience and performance capacity • New phase as a commercial bank with strong presence in the corporate sector and close customer relationships New strategic plan focused on maximizing value for customers, maintaining profitable operations and capital efficiency novobanco 5#6During the restructuring cycle, novobanco maintained strict discipline and, as of 2021, ensures value creation for stakeholders Net Income (€ million) +€1.1bn Interest Bearing Liabilities (%) 185 267 Core Banking Income (€ million) +17% CAGR1 +123% -788 -2,298 -1,413 ויון! 1.48% 448 1.14% 386 395 0.73% 281 -1,059 -1,329 0.51% 0.35% 201 204 0.18% 0.21% 179 2016 2017 2018 2019 2020 2021 1H22 2016 2017 2018 2019 2020 2021 1H22 € million 465 68 41 2016 2017 2018 2019 2020 2021 1H22 Operating Costs -7% CAGR1 NPLs (€ million) (€ million; %) -31% CAGR1 Real Estate Exposure (€ million; %) -31% -85% -21% CAGR¹ -69% 591 11,288 549 10,130 487 479 432 408 6,739 209 3,430 2,498 2,670 2,490 2,035 1,133 881 824 701 1,749 1,695 2016 2017 2018 2019 2020 2021 1H22 Employees 6 096 Branches 537 4 167 304 NPL % 33.4% 2016 2017 2018 2019 2020 2021 1H22 III 2016 2017 2018 2019 2020 2021 1H22 5.7% 5.4% % of Assets² 5.1% novobanco (1) CAGR from 2016-2021; (2) Jun/22 pro-forma consider the sale of the logistiscs portfolio announced on May/22; 1.8% 1.5% 6#7novobanco maintained its activity constant, despite adjustments in its size Customer Deposits (€ billion) 25.6 +7% Total Assets (€ billion) 29.7 28.3 28.4 27.8 27.3 26.1 -15% 52.3 52.1 48.3 45.3 45.5 44.4 44.6 2016 2017 2018 2019 2020 2021 Jun-22 2016 2017 2018 2019 2020 2021 jun-22 Customer Loans (€ billion; gross) Branches and Employees (number) 6,096 5,488 Employees 5,096 4,869 4,582 4,193 -26% 4,167 537 33.8 473 31.4 Internacional 30 28.7 27.1 25.2 24.9 25.5 25 402 387 359 21 12 311 304 1 Domestic 507 448 381 375 358 310 303 2016 2017 2018 2019 2020 2021 jun-22 novobanco 2016 2017 2018 2019 2020 2021 Jun-22 7#8Madeira 38.3 24.0 Euro Area 15.4 10.9 9.1 8.9 Portugal Energy & food CPI Inflation (CPI, % YoY) Azores Lisbon 1996 1996-2007: 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 Annual real GDP growth (%) 3.5 4.4 4.8 3.9 3.8 1.9 1.8 0.8 0.8 1.6 2.5 1.7 0.3 -0.9 2009 2010 2011 2012 2013 2014 2015 2016 2017 5.5 6.4 0.8 1.8 2.0 3.5 2.8 2.7 -1.7 -0.9 -3.1 -4.1 Avg annual growth: 2.4% Activity growth based on domestic demand and on non-tradable sectors. Rise in indebtedness. Average budget balance: -4.4% of GDP Net external financial needs of 11% of GDP in 2008 Avg annual growth: -1.3% Impact from the "Great Recession" and Economic and Financial Adjustment Programme tradable sectors. Budget surplus in 2019. Avg external surplus of 1.3% of GDP. 2008-2013: Avg annual growth: 2.3% Activity growth based on exports (goods and tourism) and on -8.3 Strong recovery in tourism. Resilient domestic demand. Budget deficit below 2% of GDP in 2022. 20 18 16 14 12 10 8 6 4 2 0 2000 2003 2006 2009 2012 2015 2018 2021 5.9% Now well positioned to compete as an independent domestic Portuguese bank... Unemployment rate (% labour force) Gross Value Added by sector, 2021 (nominal prices, %) Agriculture, forestry and fisheries 2018 2019 2020 2021 3% Industry Other services 14% Energy, Water, 32% 3% Sanitation 5% Construction 17% 18% Financial services, Insurance, Real 8% Commerce, Accomodation, Restaurants, Vehicles repairs estate Transport, Warehousing, Information, Communication 2022 Energy Food Total novobanco 8#9...with a solid Balance Sheet Consolidated Balance Sheet (€mn) 44,619 45,493 45,493 44,619 Other Assets 7% 6% 7% Tax Assets 2%2% 2% 2% 7% Equity 5% 4% Other liabilities Real estate 3% 3% Debt Securities . 23% 23% Securities 62% 61% Customers Deposits • Customer 53% 53% loans Loans & 22% 24% advances to 13% 14% Due to Central Banks & Banks Banks Dec-21 Jun-22 Jun-22 Dec-21 Assets Equity & Liabilities novobanco Assets • • Net customer loans growth €0.7bn YTD reflecting the higher pace of origination • Performing loan book €23.9bn growing +€0.7bn • NPL at €1.7bn, down by 3% Loans & advances to Banks of €6.3bn includes €5.8bn of Cash at ECB Liabilities Due to Central Banks & Banks of €9.9bn includes €8.0bn from TLTRO III Customer Deposits growing €1.1bn (+3.9% YTD), with the outperformance of the Retail segment; Capital & Liquidity ⚫ CET 1 ratio of 11.8%, +100bps capital generation in 2Q, from organic profitability and acceleration of balance sheet deleverage (disposal of high density RWA); • Comfortable liquidity position with LCR at 187% and NSFR at 106%. 9#10The new strategic plan focused to maximize value for customers, maintaining profitable operations and capital efficiency A leading player in the Portuguese market Total Assets - Domestic activity1 (Portuguese Banks, €bn) 66 99 Dec-17 800 98 10 70 54 ..... Jun-2022 59 62 53 #4 47 46 33 43 Customer-centric Simple & efficient Reflecting evolving customer expectations through distinctive value propositions Leveraging digital and an omnichannel approach as drivers of service and proximity Simplifying the banking experience, through a superior usage of technology and data Improving internal processes to upgrade productivity and efficiency Skilled talent pool Sustainable business Bank 1 Bank 2 Bank 3 novobanco Bank 4 Total Loans Market Share of 10.7% Attracting and developing a team of skilled, experienced and diverse professionals Developing a dynamic, collaborative culture in an environment adapted to the new ways of working novobanco (1) Source: Results Press Releases (Novo Banco, CGD, Millennium BCP, Santander Totta); Delivering sustainable returns through disciplined risk, capital and funding management Strengthening integration of ESG across business to support sustainable growth and key stakeholders 10#111H22 achievements confirm novobanco execution skills and pave the way forward... Customer-centric 1.5 million clients including 56% of [ SMEs in Portugal Simple and efficient 43.6% Forms signed with phygital Skilled talent pool Sustainable business novobanco €2.0bn $ Loans originated in 1H22 只 > 65% Households: % of self- service transactions 4 167 Employees of Grupo novobanco > 54% Women 11.0% Return on Tangible Equity 56.5% Active digital channels; Production +276% YoY 96.5% 1H2022 Satisfied & very satisfied clients - Medium Enterprise 49% Cost to income (recurrent basis) $ €98.7k (+5% YoY) Commercial banking income per avg employee 19.2 Average seniority of employees 17.5 training hours per employee (average) 19.3% MREL Ratio (above binding of 17.66%) 82.8% Loan to Deposit Ratio 000 €103.9mn Financing in green investment (EU Taxonomy) 11#12...being on track to deliver medium-term guidance with targets to be updated, by year end, to reflect current market environment 1H21 1H22 Medium-term targets Underlying Profitability (€mn; pre-tax) ROTE (cumulative annualised; 12% RWA) Commercial Loan Book €22.8bn (performing) €23.8bn (+4.7% YoY) 2-3% per year Expanding loan book ROTE 11.0% Net Interest Margin 1.46% 1.30% [1.30 1.50%] Set to benefit from Euribor repricing 10.2% 8.7% 8.8% 8.2% Cost-to-income 48% 49% (recurrent basis) < 45% Efficient operations 7.6% COR 68bps 15bps < 50 bps Achieving moderate risk profile 77.9 85.1 76.5 75.1 68.6 59.7 NPL ratio 7.3% 5.4% < 5% Converging towards EU average ROTE (pre-tax)1 8.7% 11.0% ≥ 10% Delivering organic attractive returns CET 1 10.9% 11.8% > 12% Accelerating capital generation 1Q21 2Q21 3Q21 4Q21 1Q22 2Q22 novobanco (1) Tangible Equity = average phased-in RWA x 12%; Annualized; Considers Underlying profitability pre-tax deducted by special tax on banks (€34mn on annual basis) and contributions to Resolution Funds (€40.9mn on annual basis) 12#13Continuous improvement of underlying performance, further confirming the sustainability of its trajectory Theme 1: 1H 2022 Results NII (Emn) and NIM (%) evolution Cost of Risk (annualised; %) Normalized COR 1.65% 1.61% 1.60% Assets 1.49% 1.51% NIM 0.68% 1.46% 1.43% 1.42% 0.61% 0.60% 1.31% 1.30% NPL ratio and Coverage (%) Covid-related CoR NPL entries; % of performing loans 78% 82% 71% 71% 73% 7.3% 7.3% 5.7% 0.23% 5.7% 5.4% Liabilities 0.17% 0.17% 0.17% 0.18% 0.20% 0.15% 0.40% 0.40% 0.31% 0.23% 2021: 1.5% 0.5% 0.15% 1H21 9M21 2021 1Q22 1H22 1H21 9M21 2021 1Q22 1H22 2Q21 3Q21 4Q21 1Q22 2Q22 Commercial Bl per avg. Employee (€ k; #) Underlying Profitability (Єmn; pre-tax) Commercial 216.3 213.2 217.9 BI 202.3 210.1 Employees 4 470 ROTE (cumulative annualised; 12% RWA) 4 362 4 193 4 182 4 167 Fees 72.8 72.3 74.6 68.8 75.6 NII 143.5 140.9 143.2 133.5 134.5 2Q21 3Q21 4Q21 1Q22 2Q22 novobanco € million 11.0% 10.2% 47.9 48.3 50.9 48.3 50.3 8.7% 8.8% 8.2% 85.1 76.5 75.1 68.6 59.7 2Q21 3Q21 4Q21 1Q22 2Q22 2Q21 3Q21 4Q21 1Q22 2Q22 13#14Capital increasing by 1.0pp in the 2Q22, driven by capital-accretive business model... Theme 2: Capital Evolution Total Capital: Ratio Evolution (phased-in¹; Preliminary; bps) ~40bps with completion of the transaction ~27bps Head-Office sale ~13bps RE assets sale ~25bps Restructuring funds ~14.5% 15.0% 13.1% +0.23% 12.9% +0.30% +0.28% 13.9% ~0.6% +0.4% +0.02% 1.5% P2G -0.34% -0.09% Total Capital Dec-21 Including lower RWA driven by improving PDs following exit of loans from moratoriums in 2021 13.5% OCR IFRS 9 Treasury 1Q Total results Results² Capital Mar-22 Treasury 2Q Sale Other Total results Results² of effects Capital logistics REO3 3Q22 Pro-forma Target YTD ■ Jun-22 Jun-22 novobanco > Measures to accelerate the sale of non-core and high-density assets, including: ■ [~27bps]: Sale of Head Office: SPA signed in Aug-22; moving to a refurbish building outside the city-center; [~35-45 bps]: Real Estate assets: planned for 2022 (sales processes in advanced stage), before possible anticipation of sales target for 2023/24, of which ~13bps signed 3Q22 to date. ■ [~25 bps]: Restructuring Funds: sale of ~40% of novobanco's NBV in Restructuring Funds (signed in 3Q22 to date; closing by YE); > Other possible positive events not considered (potential upside): ■ CCA Call: €209mn from 2021 CCA call; RE Tax: €116mn (~50bps) provision done in 2021 and pending clarification from tax authorities; ■ Arbitrations: €165mn from 2020 CCA call and IFRS 9 dynamic ...and execution of measures to continue to comply with capital requirements going forward. (1) Estimated; Phased-in ratios; The inclusion of positive results depends on an authorization from the ECB; (2) Excludes Markets Results, which is classified as Treasury results; (3) Closed in Jul- 22; -82% of assets transferred to the buyer; remaining to be transferred once necessary approvals obtained; 14#15With ~90% of the loan book floating, the repricing of Euribor will lead to higher NII Theme 3: Interest Rates 6-months Euribor curve (%; as of 18-Jul) Loans to Customers (Gross Book Value; €bn) Loan-to-Deposit ratios in Europe² (%; March Data) 2.00% GAP 1.59% Consumer & Other €25.5bn 6% €25.5bn -10% 250% 1.34% 1.50% Market Mortgage % Fixed % Floating 38% 147% 1.00% 0.71% ~90% -20% 1M 101% 98% 94% 81% 78% 61% 0.50% 0.03% 0.15% -25% 3M 0.00% Corporate 56% With 46% of the floating loans floored -30% 6M (from corporate) -0.50% Business Plan -25% 12M 범프씰 뜨 암스 -1.00% Segment Interest 1 Rate Type Ample liquidity in Jan-22 Mar-22 Jun-22 Sep-22 Dec-22 Portuguese banking sector ~€3.0bn of investment portfolio, yielding ~0.7%, matures within 2 years; investment portfolio at amortised cost is >50% hedged No zero Euribor floor on mortgages • No structural deposits hedges • No negative rates for retail & corporate deposits in Portugal novobanco (1) After hedging: (2) Source: ECB - SDW 15#16Moving towards expanding loan book with €2.0bn customer loans originated YTD Theme 4: Growth Loans to Customers: Origination New Distribution Model & Omnichannel • Promote customer relationship: an innovative functional layout focused on customer relationship and an integrated experience (ie: distinctive self- service, employee mobility, digital communication) . • • 3-yr nationwide investment program of ~€120mn Deploying a specialized approach for priority sectors (ie: Agriculture, Tourism, Manufacturing, Retail & Services) • Partnering with specialists to provide our customers a wide range of solutions (ie: EU-funding) • To determine each segment profitability (with strategic implications); ⚫ Dynamic allocation of balance sheet growth between different segments and its capital impact >165 Branches converted (~55% of total) SME representing >65% of Corporate origination Pricing of new loans is subject to RAROC hurdles (€bn; %) Corporate Mortgage Consumer & Other 41% 1.0 1.0 1.0 Reconfiguration 8% 9% 10% 0.8 of Sectorial View 25% 11% 0.6 29% 32% 0.6 27% 12% 8% 35% 35% 66% 62% 58% 61% 57% 53% New Capital allocation model 1Q21 2Q21 3Q21 4Q21 1Q22 2Q22 New management team and organization focused to deliver the next stage of novobanco's development, competing as a strong and independent Portuguese corporate and retail bank novobanco 16#17Final Remarks Delivering improved profitability with consistent profits over the last 6 quarters, reflecting a solid performance of the top-line together with efficiency measures implemented in recent years. Expanding the loan book with business performance in line with expectations for this first semester, despite the highly challenging environment. Maintaining a clear profitability turnaround enabled by restructuring efforts over recent years, delivering organic ROTE of 11.0% (pre-tax). Total Capital at 13.9%, increasing by 1.0pp in the quarter driven by strong bottom line profitability and specific measures to ensure compliance with normalised post-pandemic capital requirement. On track to meet medium term financial targets announced at 2021 Capital Markets Day, with significant improvements across all KPIs. novobanco 17#18AGENDA Overview of novobanco 1H22 Financial Performance Income Statement Balance Sheet Annex novobanco 18#19Continuing to deliver improved profitability... I novobanco announces a net income of €266.7mn (1H21: €137.7mn; 2Q22: €124.0mn) and RoTE¹ improving to 11.0%. The business performance is in line with expectations. The results confirm continued and stable return to profitability along with the de-risking of the balance sheet given the significant restructuring over recent years. These achievements were recently acknowledged by Moody's with 2 notches rating upgrade (BCA from caa1 to b2), maintaining positive outlook. Moving towards an expanding loan book with €2.0bn customer loans origination in 1H22 (+41% vs 1H21), of which 60% in the corporate segment. Net customer loans at €24.3bn (+€653mn YTD) reflecting the growth of the market-leading corporate segment, as well as the mortgage and consumer loan portfolio. Deposits increasing by 3.9% YTD (€1.1bn), driven by the Retail segment. NII was €268.0mn (-7.3% YoY), reflecting the higher funding cost due to senior debt issuance in 4Q21 and negative interest rates on money market placements. Reflecting a strong performance and an improved quarterly trend, fee income increased by +6.5% YoY. Cost/Income ratio² at 49% on a recurrent basis. (1Q22: 50%; 2Q22: 49% on recurrent basis). COR of 15bps (1H21: 68bps or 40bps ex-Covid related provisions) benefiting from successful recovery of moratoria clients and contained macroeconomic impacts. NPL ratio of 5.4% (Dec-21: 5.7%; Dec-20: 8.9%) and a NPL coverage at 73.0% (Dec-21: 71.4%), given the successful ongoing de-risking strategy. RE exposure decreasing to 1.5% of total assets (-0.3pp YTD; once the sale of the logistics portfolio³ is completed). Driven by strong bottom-line profitability, CET 1 to increase 1.0pp in the quarter to 11.8% and Total capital ratio reached 13.9% (Mar/22: 12.9%), already above 13.5% OCR4 requirement. A capital accretive business model, combined with specific capital-generating measures, to ensure early compliance with normalised post-pandemic capital requirements. novobanco (1) Tangible Equity = average phased-in RWA x 12%; Annualized; Considers Underlying profitability pre-tax deducted by special tax on banks (€34mn on annual basis) and contributions to Resolution Funds (€40.9mn on annual basis); (2) Cost to Income defined as Operational Costs divided by Commercial Banking Income; (3) Closing on 82% of the assets occurred in July 2022; (4) OCR Overall Capital Requirement 19#20novobanco continued to grow its profitability, reaching a RoTE of 11%, a further confirmation of the sustainability of its trajectory From Income Before Tax to Underlying Profitability (1H22; €mn) +75% YOY 11.0% ROTE1 343.0 +3.4 ============ (82.9) (77.1) +5.6 160.2 (31.7) Income Special Tax & Before Tax Market Resolution Funds Results² contributions (pro-rata) portfolio (Logistics) Gain from the Non-recurring sale of RE Operating costs Release of provisions for Other contingencies Underlying Profitability (pre-tax) • Consolidated income before tax at €343mn up from €196mn in 1H21, with improvement in the banking income (+€82.4mn) and a lower level of impairments and provisions (-77.8%; -€69.4mn). • Underlying profitability (pre-tax) at €160.2mn after deducting Special Tax on Banks, considering Resolution Funds contributions (on a pro-rata basis), excluding positive markets results (€83mn), gains from the sale of the logistics portfolio (€77.1mn), non- recurring costs (€5.6mn) and release of provisions for other contingencies (€31.7mn) ⚫ A solid business model delivering RoTE1 at 11.0%, with further upside driven by increasing interest rates. novobanco (1) Tangible Equity = average phased-in RWA x 12%; Annualized; Considers Underlying profitability pre-tax deducted by special tax on banks (€34mn on annual basis) and contributions to Resolution Funds (€40.9mn on annual basis); (2) Excludes dividends from strategic holdings 20 20#21Providing an integrated customer experience leveraging on a new distribution/branch model and a best-in-class digital experience >165 118 New Distribution Model Branches converted (~55% of total) Virtual Teller Machines1 (Dec/21: 65) 43.6% Forms signed with phygital (+16pp vs 2021) 43.1% 56.5% 74% Digital Active Mobile clients (+5.4pp YoY) Active digital Digital clients (total) touchpoints² (+3.4pp YoY) (+2pp YoY) novobanco Digital sales Highlights Phygital extended to new products (ie: minutes of meetings, closing of accounts, home insurance) New Customer Journeys (i) personal loans: compare simulations; (ii) expand online investment offer Customer acquisition +52% YoY, of which >20% of new clients <25 years (vs 10% of current client base) +284% YOY +196% YOY +110% YOY Personal Loans representing 13% of the segment sales vs 4% in 1H21 Life & Non-life insurance representing 5% of the segment sales vs 2% in 1H21 Credit Cards representing 3% of the segment sales vs 2% in 1H21 Reconfiguration of Sectorial View: deploying a specialized approach for priority sectors (ie: Agriculture, Tourism, Manufacturing, Retail & Services) (1) Featuring physical currency management solutions (for cash withdrawal and deposit); (2) 74% of individual clients' contacts with novobanco were made through the digital channels; 64% mobile and 10% online 221 21#22QUALITY EDUCATION ما GENDER DECENT WORK AND EQUALITY ECONOMIC GROWTH CLIMATE ACTION Responsible Banking Our ESG Priorities and 1H22 achievements... GOOD HEALTH AND WELL-BEING Sustainable Business Social & Financial Well-being €103.9mn Green investment production1 5.6k Hours of ESG training to employees 6.0% (vs 5.9% in Dec-21) Gender pay-gap² -13.2% Electricity Consumption (YoY) -100% Of clean electricity consumption; (no CO2) 600 Participations in Digital & financial sessions to the general public and senior population 25.0% Of women in senior leaders' roles (-0.2pp YoY)³ -25.6% Paper consumption (YoY) -19.4% CO2 emission (YoY) €621k Incl: voluntary service, donations, partnerships & specific conditions 44.3% Of suppliers with Sustainability scoring 2Q22 Highlights ESG/ Sustainable investment: novobanco undertakes €175mn of sustainable financing operations for Sonae Group novobanco launches programs: ⚫5+ for employees: physical health, mental health, well-being, balance, happiness . • Volunteering: giving employees 1 day/year for community support Partnership with "Associação Direito Mental" novobanco Note: (1) Novo Banco S.A; Includes financing and investment in 8 sectors inherently aligned with EU Taxonomy and in Green Bonds (as labeled by Bloomberg). Does not include remaining Taxonomy eligible sectors or other ESG/Sustainable/ Social linked bonds and loans; (2) Adjusted by function; (3) includes BoD team and senior managers; 22 22#23AGENDA Overview of novobanco 1H22 Financial Performance Income Statement Balance Sheet Annex novobanco 23 23#24Continuous improvement of underlying performance • • • NII at €268mn (-€21mn; -7% YoY) backed by loan book expansion with defending rates and set to benefit from a favorable rate environment. YoY comparison explained by senior debt issuance in 4Q21 and negative interest rates on money market placements; Commissions (+€9mn; +7% YoY) driven by increased economic activity and higher volume of transaction and performance of Asset Management and Bancassurance segment; Capital Markets Results were positive by €85.8mn (2Q22: -€5.6mn) mostly due to gains from the hedging of interest rate risk, reflecting the volatility of sovereign debt in the market. The fair value reserves decreased by €272mn (2Q22: €28mn); Other Operating Results of €73.2mn includes €77.1mn of gains from the sale of real estate assets (logistics; €58.5mn net of non-controlling interests), offsetting €40.9mn of contributions to resolution funds; Operating costs evolution (+€4.6mn; +2.2%), reflects the continued optimisation, investment done in the new distribution model, and the reduction of staff costs given the lower number of employees, decreasing by 0.5% YoY on a recurring basis; Provisions at €19.8mn (-€69mn; -78% YoY), reflecting the quality of the portfolio after the execution of the restructuring process (Cost of Risk was 0.15%, -0.53% YoY); Net Income of +€267mn (+€129mn; +94% YoY) reflecting a stable performance of commercial activities and lower credit impairments. Income Statement (€mn) 1H21 1H22 ▲ YOY €mn Net Interest Income 289.3 268.0 (21.2) + Fees & Commissions 135.5 144.4 +8.9 = Commercial Banking Income 424.8 412.4 (12.4) + Capital Markets Results 93.3 85.8 + Other Operating Results -29.1 73.2 (7.6) +102.4 = Banking Income 489.0 571.5 +82.4 - Operating Costs 204.1 208.7 +4.6 = Net Operating Income 284.9 362.7 +77.8 Net Impairments & Provisions 89.2 19.8 (69.4) = Income Before Tax 195.7 343.0 +147.2 - Corporate Income Tax 21.1 18.9 (2.2) - Special Tax on Banks 34.2 34.1 (0.1) = Income after Taxes 140.4 289.9 +149.5 Non-Controlling Interests 2.7 23.2 +20.5 = Net Income for the period 137.7 266.7 +129.0 novobanco 24 24#25Avg. Avg. Income/ Balance Rate Costs 24 994 13 730 2.03% 2.35% 255 162 1 Loan book expansion with defending rates, reaching NII of €268mn Net Interest Income (NII) Net Interest Margin (NIM) € million; % Customer Loans Corporate loans 1H21 1H22 Avg. Avg. Income/ Balance Rate Costs Assets1 1.68% 1.65% 1.61% 1.60% 1.49% 1.51% 25 211 13 997 Mortgage lending 9 911 1.06% 53 9 782 Consumer loans and Others 1 353 5.90% 40 1 432 Money Market Placements 3 883 0.18% 4 6013 -0.32% 2.02% 256 2.31% 163 1.04% 51 5.85% 42 -10 NIM² 1.49% 1.46% 1.43% 1.42% 1.31% 1.30% Liabilities1 0.18% 0.17% 0.17% 0.17% 0.18% 0.20% Securities and Other Assets 10 479 1.27% 67 9 785 1.32% 65 Interest Earning Assets & Other 39 357 1.65% 326 41 009 1.51% Of which: Customer Deposits 26 425 0.20% 27 27 813 0.15% 311 21 NII 145.7 143.5 140.9 143.2 (€mn) 133.5 134.5 Of which: Money Market Funding Of which: Other Liabilities 10 390 -0.49% 949 7.01% Interest Bearing Liabilities & Other 39 357 0.17% NIM / NII² -26 10 496 -0.50% -26 33 35 1 441 41 009 6.38% 46 1.46% 289 0.20% 1.30% 41 268 1Q21 IIIII 2Q21 3Q21 4Q21 1Q22 2Q22 NII YoY comparison explained by senior debt issuance in 4Q21 and money markets negative interest rates. novobanco (1) YTD figures until such reference date; (2) With stage 3 impairment adjustment 25 25#262 Fees grew 6.5% YoY, driven by economic recovery and performance of asset management & bancassurance business Fees: Quarterly Evolution (Єmn) Fees: evolution per type (Єmn) +6.5% 144.4 135.5 2020 65.1 3Q +11% 2021 72.3 Advising, Servicing & Other 8.1 7.7 33.2 2020 75.4 4Q -1% Asset Management & Bancassurance 30.8 +7.7% 2021 74.6 On Loans, Guarantees & similar 42.5 42.7 -0.4% 2021 62.8 1Q +10% 2022 68.8 2021 72.8 Payments Management 60.6 54.3 +11.6% 2Q +4% 2022 75.6 1H21 1H22 • Asset management & bancassurance fees (+€2.4mn; +7.7% YoY): reflecting a more robust commercial activity and performance of Asset Management & Bancassurance segment; • Commissions on Loans, Guarantees and similar (-€0.2mn; -0.4% YoY): reflecting volume of guarantees; • Payments management (+€6.3mn; +12%) due to a higher volume of transactions and new pricing implemented in March for customer accounts. The recovery of economic activity, more transactions, and new business are expected to drive fee income expansion. novobanco 26 26#273 Stable YoY operating costs reflecting the continued optimisation and simplification of the organisation and its processes,... Number of branches -45 Consolidated Operating Costs (%; €mn) -0.5% +2.2% on a recurring basis International 349 1 311 304 1 1 Domestic 348 310 303 204.1 208.7 D&A +19.4% 16.4 19.5 Jun-21 Dec-21 Jun-22 G&A 70.1 77.3 +10.2% -303 Employees Staff -4.9% per area (#) 4,470 4,193 4,167 Cost Other areas 117.6 111.8 1,947 1,856 1,855 International 22 28 20 Commercial 2,501 2,309 2,292 Units Cost to Income1 1H21 48% 1H22 51% 49% Jun-21 Dec-21 Jun-22 on a recurring basis ……. the reduction of staff costs, and the investment done in the business and new distribution model. On a recurring basis, operating costs reduced by 0.5% (to €203.1mn). novobanco (1) Defined as Operating Cost divided by Commercial Banking Income; Commercial Banking Income being equal to Net Interest Margin plus Fees and Commissions 27 27#284 Provisions below run-rate reflecting a benign economic environment in 1H22 Impairment and Provisions (Єmn; %) Cost of Risk & Loan Provisions (€mn; bps) 89.2 Includes: Securities 16.0 extraordinary tax contingency provision 19.8 Includes: Includes: • €35mn additional Provisions for corporate exposure; Reported 68bps Covid Adjusted 40bps 84.7 Loan impairment within • Provisions (€14mn) related to 84.7 the scope of Covid- Provisions 41.7 exposure (corporate bonds) 19 19.3 to Russian Federation1 Covid-19 Impairment/ 35.2 related sectors Other - 11.5 1H21 - 41.2 1H22 Includes: . Includes €31.7mn from reversal of specific provisions related with contingencies and potential claims novobanco (1) As of Jun-22 net book value of that exposure was €8mn 15bps Other loan 19.3 49.5 Impairments 19.3 1H21 1H22 28 28#29AGENDA Overview of novobanco 1H22 Financial Performance Income Statement Balance Sheet Annex novobanco 29 29#30Maintaining a solid Balance Sheet Assets Balance Sheet (Єmn) ▲YTD Assets Dec-21 Jun-22 €mn % Loans and advances to banks 5,922 6,273 351 5.9% 1 Customer loans (net) 23,651 24,304 653 2.8% 2 Real estate 824 909 85 10.3% 3 Securities 10,471 10,278 (193) -1.8% Non-current assets held for sale 9 12 3 27.5% Current and deferred tax assets 780 849 69 8.8% Other assets 2,962 2,869 (93) -3.1% Total Assets 44,619 45,493 874 2.0% YTD Liabilities & Equity Dec-21 Jun-22 €mn % 4 Customer deposits 27,315 28,385 1,070 Due to central banks and banks 10,745 9,875 (870) -8.1% • Debt securities 1,470 1,498 29 2.0% Non-current liabilities held for sale 1 2 1 81.3% Other liabilities 1,938 2,481 543 28.0% Total Liabilities 41,469 42,241 772 1.9% 5 Equity 3,149 3,252 102 3.2% Total Liabilities and Equity 44,619 45,493 874 2.0% novobanco 3.9% ⚫ Net customer loans growth €0.7bn YTD reflecting the higher pace of origination • • Performing loan book €23.9bn growing +€0.7bn ⚫ NPL at €1.7bn, down by 3% Liabilities Customer Deposits growing €1.1bn (+3.9% YTD), with the outperformance of the Retail segment; Capital & Liquidity O CET 1 ratio of 11.8%, +100bps capital generation in 2Q, from organic profitability and acceleration of balance sheet deleverage (disposal of high density RWA); • Comfortable liquidity position with LCR at 187% and NSFR at 106%. 30 30#311 Net customer loans +2.8% YTD, confirming trajectory of an expanding loan book in both retail and corporate segments Loans to Customers - Gross Book Value Evolution (€bn; %) Net 23.7 Loans Gross +2.8% 24.3 Loans 24.9 +0.4 25.5 Consumer & +2.0 (1.0) Other (0.9) Mortgage 9.8 Corporate 13.7 Loans to Customers: 1H22 Origination (€bn; %) Consumer & Other 9% Corporate 9.8 31% €2.0bn +41% YoY 60% 14.3 10.7% Market Share2 Mortgage Dec-21 Stock 1H22 Origination Scheduled Non-scheduled Other Amortisation Effects1 Jun-22 Stock novobanco (1) Includes restructured contracts, short-term and impairment variations and other novobanco group entities; (2) Stock figure as of May 2022; sources: Banco de Portugal, APS, APFIPP 31#321 Net Net loan book growing by 2.8% YTD to €24.3bn (+€0.7mn YTD), across all segments Corporate loans (%; €bn) Mortgage loans (€bn; %) Consumer loans & Other (Єbn; %) Loans 12.70 +4.5% 13.27 9.73 Net +0.5% 9.78 1.23 +2.5% 1.26 Loans +1.19 13.71 +0.58 14.27 Gross Loans Gross (1.21) +0.61 9.78 0.0 9.83 Loans (0.51) 1.41 +0.19 0.0 1.44 (0.15) Dec-21 1H22 Amortization Other Stock Origination Jun-22 effects Stock Dec-21 1H22 Amortization Other Stock Origination effects Jun-22 Stock Dec-21 1H22 Amortization Other Stock Origination Jun-22 effects Stock Avg. Rate¹ Avg. 2.33% 2.31% 1.04% 1.04% 5.86% 5.85% Rate • SME representing >65% of origination and Small business > 21% • A conservative mortgage portfolio with average LTV < 50% . Growth of the consumer portfolio to leverage on digital experience novobanco (1) Average rate of the period 32 32#331 Stable YTD NPL stock, benefiting from successful recovery of moratoria clients and contained macroeconomic impacts Non-performing Loans Evolution (%; Єmn; Gross NPL¹) -23% NPL ratio & Coverage evolution1 (%; Consolidated reported figures) NPL ratio NPL coverage 74% 78% 71% 73% 56% 2 209 11.8% 1 749 +116 8.9% +25 1,695 7.3% 5.7% 5.4% (152) (13) (30) -€36mn Net formation 2019 2020 Jun-21 2021 Jun-22 New Entries NPL (Єmn) 388 365 87 332 116 Jun-21 Dec-21 New Cures & Sales Entries Recoveries (Gross) Write-offs Forecl. & Other Jun-22 % performing loans 1.8% 1.5% 0.4% 1.5% 0.5% YTD Net formation of NPL at -€36mn and recent NPL reduction benefitting from sale of portfolios, being capital accretive and demonstrating adequacy of NPL coverage novobanco (1) NPL as per BdP definition (see glossary - annex for further detail); 333#341 Lower YTD stage 2 exposure mainly from debtors with moratorium concessions during 2021 reverting to stage 1 Loan Portfolio1 by Stages Stage 3: Overdue Vintage Non-overdue ]0; 1yr] ]1; 2yr] +2yr Stage 3 7.7% Stage 2 6.4% 6.7% 17% 18% 16% Dec-19 41% 16% 11% 31% Stage² 3: Coverage by type Impairment RE Collateral Non-overdue GBV Corporate 51% 50% 101% 66% €1.3bn Dec-20 53% 14% 6% 27% Stage 1 76% 75% 77% Mortgage 20% 97% 118% 75% €0.2bn Dec-21 65% 13% 5% 17% Consumer 81% 11% 91% Jun-22 83% €0.2bn 69% 12% 4% 15% Jun-21 Dec-21 Jun-22 Coverage ratios Stage 2 8.1% Stage 3 55.9% 7.3% 49.7% 7.4% 51.0% Stage 3 at €1.7bn GBV, with 51% coverage², and more than 2/3 of stage 3 loans not overdue novobanco (1) Excludes credit institutions; Preliminary figures; (2) Specific provisions only 34#352 YTD increase of RE exposure to €909mn due to revaluation of the assets based on sale price agreed in SPAS (pro-forma NBV -15%) Evolution of Real Estate Exposure (Єmn NBV) Real Estate Portfolio: Coverage by Asset Type² (€bn;%) 49% % Total 1.9% 1.8% 2.0% 1.5% TOP 20 RE assets represent 60% of the Coverage Assets Ratio portfolio. Of those high- 56% 44% 24% 46% quality assets, 8 are (%) -6% yielding and 3 in advance stage of sales processes 909 0.82 869 Foreclosed 824 GBV 168 REO (net) 701 229 170 Pro-forma excluding Impairment 0.46 0.41 Investment properties & 741 €208mn NBV of Logistic sale 640 654 0.18 announced in May-22 Other NBV 0.12 0.36 0.23 0.05 Land Commercial Residential Other Jun-21 Dec-21 Jun-22 Jun-221 Ex-Logistic portfolio sale Coverage is supported by a robust appraisal policy, individual asset reviews, market pricing (bids received) and yield performance. novobanco 35 (1) Closed in Jul-22; -82% of assets transferred to the buyer; remaining to be transferred once necessary approvals obtained; (2) Figures adjusted to exclude the sale of the logistic portfolio#36Continuous reduction of foreclosed assets and NPL, benefiting from 2 sale of portfolios Foreclosed REO Assets (€mn) Coverage 51.4% 51.7% 51.8% Ratio -28% NPL + Foreclosed REO Assets (€mn;%) Coverage Ratio 73.7% 68.1% 69.4% Gross 2,688 2,100 2,044 Gross 485 351 349 1,981 Net 1,430 1,419 Net 236 170 168 Jun-21 Dec-21 Jun-22 Jun-21 Dec-21 Jun-22 Gross Ratio¹ 10.6% 8.3% 7.9% Net Ratio² Net/Total Assets 1 2.8% 2.7% 2.4% 1.5% 1.5% 1.4% novobanco (1) Calculated as (NPL + foreclosed REO assets) / (Gross loans + foreclosed REO assets); (2) Calculated as (NPL + foreclosed REO assets - Total provisions for credit - Total provisions for foreclosed REO assets)/(Gross loans + foreclosed REO assets); (3) Calculated as (NPL + foreclosed REO assets - Total provisions for credit - Total provisions for foreclosed REO assets) / (Total Assets); 36#37Conservative €10.3bn securities portfolio with HQLA1 3 representing ~70% Securities Portfolio: Breakdown (€bn) YoY portfolio reduced by €0.8bn, due to: i) market performance; and ii) the execution of de-risking strategy and the maturity profile of the sovereign debt Securities Portfolio: Ratings4 (Jun-22; €bn) 11.1 10.5 10.3 0.9 0.8 0.7 Other² 3.5 3.4 Bonds³ 4.1 Other 3.5 3.2 Sovereign debt 3.4 3.3 3.1 2.2 PT Sovereign debt Jun-21 Dec-21 Jun-22 novobanco [B+; B-] AAA 2% 9% [AA+; AA-] [BB+; BB-] 13% 18% [A+; A-] 37% 21% [BBB+; BBB-] Securities portfolio with an average yield of 1.32% (1) HQLA: High Quality Liquid Assets; (2) Includes Funds and Equity Holdings; (3) Includes Corporate Debt and Supra; (4) Breakdown excludes Funds and Equity Holding and Commercial Paper; Considers S&P Rating and novobanco internal rating if S&P not available; Graph includes Other of 0.4% classified by novobanco as Defaulted 33 37#383 Investment portfolio with a duration of ~4 yrs Banking Book (by maturity; Jun-22; €mn; %) 21% PT sovereign debt 4% Other sovereign 13% HQLA1 (Corp + Fins) 28% Other EU sovereign 6% Supranational 21% Non-HQLA €10.2bn €10.4bn €10.2bn Trading Book (by maturity; Jun-22; %) €0.04bn 3,042 2,852 2,562 7% 6% Inc: Restructuring Funds, Equity 23% 12% 18; 10] years 8% Amortised Cost 68% 5% 3% Holdings and 57% 15; 8] years 3% Commercial Paper 3% 6% 5% 1% 70% 6% FVTP&L 716 9% 655 15% 414 FVTOCI 10% 26% 31% ]1; 5] years 4% 6% 4% 1% 270 ≤ 2 12; 5] 15; 8] ]8; 10] > 10 Other Dec-21 Jun-22 30% 25% 28% 7% 4% 6% 1.7yrs duration (vs Mar-22: 3.2yrs) • €0.4mn sensitivity for 1bps increase in interest rates (before hedges; Mar-22: €1.6mn); Jun-22 100% Sovereign debt novobanco (1) HQLA: High Quality Liquid Assets 38#394 Customer deposits +5.6% YoY and Total Funds +5.3%... Customer Deposits & Total Funds (%; €bn) Deposits Breakdown by Customer (€bn; %) Deposits Breakdown by Type (€bn; %) +5.3% YOY +5.6% YOY +5.6% YOY +2.4% YtD +3.9% YtD +3.9% YtD 32.8 33.8 34.6 Other Funds¹ 26.9 27.3 28.4 6.2 6.0 6.4 Non-Retail 28% 28% 28% 26.9 27.3 28.4 Sight 48% 47% 51% 26.9 27.3 28.4 Term Deposits Retail Deposits 72% 72% 72% & Savings 52% 53% 49% Jun-21 Dec-21 Jun-22 Jun-21 Dec-21 Jun-22 Jun-21 Dec-21 Jun-22 ...with evolution reflecting growth of the business despite the low interest rate environment. novobanco (1) Includes off-balance 39 39#404 Stable deposit base supporting strong liquidity position Loan to Deposit Ratio (%) Liquidity Ratios (%) Eligible Assets at the ECB³ (€bn) €17.0bn €16.5bn €16.5bn 182% 187% LCR2 €4.0bn €2.7bn €2.2bn Net ECB Funding (€bn) 150% 86.0% +0.3pp 82.8% (3.5pp) 8.0 8.0 7.0 Gross Funding 112% 117% NSFR1 106% -4.5 -5.3 -5.8 Cash at ECB Jun-21 Dec-21 Jun-22 Dec-21 Funding Loans Jun-22 Jun-21 Dec-21 Jun-22 Liquidity buffer ~€13.2bn, mostly composed of highly liquid assets (~90%). novobanco 40 (1) LtD ratio as per BdP definition (see glossary - annex for further detail); (2) LCR stands for Liquidity Coverage Ratio; NSFR stands for Net Stable Funding Ratio; (3) Net of haircut 40#415 Execution of the de-risking strategy delivering already Total Capital ratio above 13.5% OCR requirement and building P2G buffer1 CET 1 (phased-in 2:3; Preliminary; %) Tier 1 (phased-in2:3; Preliminary; %) Total Capital Excludes CCA call! 11.8% ~12.4% 8.7% CCyB CCB 2.5% P2R 1.7% P1 4.5% Relief Required CET 1 Jun-22 CET 1 (phased-in 2:3; Preliminary; %) ~14.5% -12.4% 11.8% 13.5% 13.9% 10.8% CCyB CCB 2.5% 2.1% Building P2G buffer¹ of 1.5% CCyB 2.5% CCB P2R 3.0% • 2.3% • Head-Office sale RE assets sale Restructuring funds P2R 6.0% P1 Relief P1 8.0% Relief 11.8% Pro-forma 4 Required Tier 1 Jun-22 Tier 1 Pro-forma 4 Required Jun-22 Total Capital Total Capital Pro-forma 4 Organic capital generation and acceleration of balance sheet deleverage (eg: sale of high-density restructuring funds) to continue strengthen bank's capital position going forward. novobanco (1) P2G of 1.5% applicable as of 1-Jan-23; (2) Preliminary; The inclusion of positive results depends on an authorization from the ECB; (3) On 12-Mar-20 the European Central Bank disclosed several measures that allow Banks to operate temporarily below the required capital level; P2G not included; (4) Pro-forma includes transactions announced after Jun-22: i) the positive impact of c.27bps from the sale of the Lisbon Head Office; ii) SPAs for the sale of RE assets with impact c.13bps; iii) SPA for Restructuring Fund with positive impact c. 25bps 41#42Compliant with MREL binding target as of January 1st 2022 and to continue to build MREL going forward MREL requirements: (BdP notification of May 2022; %) MREL ratio (%RWA; Preliminary) 19.3% 18.0% Jan-22 Jan-26 0.9% TREA¹ 14.64% Combined Buffer 2.52% 23.16% n.a.³ Other eligible ≥ 1 year 0.8% 4.5% Senior Unsecured ≥ 1 year 4.1% 2.2% Own Funds - Tier 2 2.0% Total 17.16% 23.16% + CBR O-SII (LSF Nani) 0.50%² Own Funds - Tier 1 Total + O-SII 17.66% 11.1% 11.7% 23.16% + CBR LRE4 5.91% 5.91% Dec-21 Jun-22 RWA 24.9bn 23.0bn Organic capital generation and acceleration of balance sheet deleverage to contribute positively to MREL evolution. novobanco (1) TREA - Total Risk Exposure Amount; (2) O-SII defined at LSF Nani Investments; as communicated by Banco de Portugal on its website on 30 Nov 2021, the O-SII increased from 0.375% to 0.5%; (3) As of Jan-26 applicable combined buffer requirement; (4) LRE - Total Leverage Exposure 42#43AGENDA Overview of novobanco 1H22 Financial Performance Annex novobanco 43#44ANNEX Portuguese macroeconomic environment Corporate Governance & ESG 1H22 Financial Statements Ratings Glossary novobanco 44#45Portuguese macroeconomic environment Macroeconomic environment GDP is estimated to have increased around 9% YoY in the first half of 2022, supported by favourable base effects, a strong recovery in tourism, a rise in net exports and resilient private consumption. GDP increased 2.6% QoQ and 11.9% YoY in 1Q 2022, above the Euro Area average of 0.6% QoQ and 5.4% YoY, due to: • favorable base effects, given the fall in GDP in 1Q 2021; earlier removal of Covid-19 constraints in Portugal, with high Covid vaccination rates; strong improvement in tourism activity and higher exports growth; resilient private consumption, in part supported by the release of savings accumulated in the pandemic. GDP is expected to have contracted around 0.3% QoQ in 2Q (+6.9% YoY), following the unusually strong growth in 1Q, and with the indirect impacts of the war in Ukraine. GDP growth (% QoQ and YoY) 1 QoQ YOY 0.5 0.8 4.4 2020 -15.2 14.7 Number of Covid-19 cases and deaths (daily net change) 80000 New cases (LHS) 11.9 70000 New deaths (RHS) 60000 2.7 4.4 6.9 50000 2.6 1.7 0.3 40000 -0.3 30000 20000 10000 0 -2.9 2021 Households' savings rate (4Q MA, % of disposable income) 15 2022 ил 01/03 30/05 28/08 26/11 24/02 25/05 23/08 21/11 19/02 20/05 Overnight stays in tourist accommodation establishments (million) 2019 2022 3.03 8.3% 1.99 3.37 2.92 4.61 4.01 6.56 6.51 5.98 6.01 13 11 9 7 5 3 2001 2003 2005 2007 2009 2011 2013 2015 2017 2019 2021 Jan Feb Mar Арг May novobanco (1) 2Q 2022: estimate; Sources: INE, European Commission, DGS, DDAE. 45 350 300 250 200 150 100 50 0#46Portuguese macroeconomic environment Macroeconomic environment Impacts from the war in Ukraine are mostly indirect, through higher inflation and interest rates. Headline and core inflation rate (CPI, % YoY) • ⚫ Direct exposure of Portugal to Russia and Ukraine is small. In 2021, merchandise exports to Russia and Ukraine amounted to 0.3% and 0.06% of total, respectively. Merchandise imports from Russia were 1.3% of total (mainly gas and fertilisers). Direct investment is also not significant. ⚫ 83% of Portugal's gas is supplied by Africal and the US. More than 50% of electricity is generated by renewable energy sources. • Impacts of the war in Ukraine are being felt mainly through a rise in producer and consumer inflation and through shortages of materials and intermediate consumptions. • CPI inflation rose from 3.3% to 8.7% YoY in 1H 2022. Producer prices are up by 24.5% YoY. Energy and Food with major contributions to inflation in 1H 2022. 10 8 6 4 2 0 95 75 55 -5 novobanco Sources: INE, DDAE. Energy and food CPI Inflation, Portugal and Euro Area (CPI, % YoY) Euro Area Portugal 8.7 Total 6.0 38.3 24.0 Core 15.4 10.9 9.1 8.9 -2 2008 2010 2012 2014 2016 2018 2020 2022 Industrial producer price index (% YoY) 35 Headline 15 Energy Food Electricity generation by energy source (% of total, May 2022 YTD) Energy 58.0 Wind 30% 24.5 -25 2011 2013 2015 2017 2019 2021 Photovoltaic 6% Hydro 18% Thermal 46% Total 46 46#47Portuguese macroeconomic environment The improvement in public accounts has allowed for policy measures, mitigating the impacts from the pandemic and from the war in Ukraine. Unemployment and NPLs have remained contained. Resilient growth in house prices, supported by strong external demand. Contained rise in sovereign spreads reflects improved fundamentals vs. previous crisis. Non-performing loans (% of total gross loans) Mortgage Consumption and other NFCS Total 20 18 Macroeconomic environment Improvement in public accounts has allowed for policy measures, mitigating the impacts from the pandemic and from the war in Ukraine. Unemployment, NPLs and sovereign spreads remain contained. Unemployment rate (% labour force) INE house price index (% YoY) & Housing bank appraisals (median, % YoY) 15 10 13.9 House Price index 12.9 16 14 5 Housing bank appraisals 12 0 10 8 -5 5.9 6 -10 4 2 -15 0 2012 2014 2016 2018 2020 2022 2000 2003 2006 2009 2012 2015 2018 2021 10Y Periphery Government bond yield spreads vs. Bund (bps) Annual GDP growth (%) 8 6.3 1 800 6 4.9 1 600 Portugal 3.5 4 2.8 1 400 2.7 2.6 1.8 2.0 1 200 2 0.8 12.8 1.000 0 11.7 11.3 800 9.4 8.9 8.3 7.7 Spain -2 600 -4 6.2 6.0 400 Italy 213 5.5 5.3 4.9 4.6 4.3 4.0 3.7 3.6 Bank of Portugal forecasts 200 118 -6 118 0 -8 62 Ireland -8.4 -200 -10 2018 2019 2020 2021 2022 2007 2010 2013 2016 2019 2022 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 novobanco Sources: INE, Bank of Portugal, DDAE. 47#48Corporate Governance A unique governance model within the Portuguese financial sector... Shareholder Structure (March 2022; %) FUNDO DE RESOLUÇÃO 23.4% Direcção-Geral do Tesouro e Finanças novobanco 1.56% NOVO BANCO 75% LONE STAR through Nani Holdings, SGPS, S.A. General Meeting Statutory Auditor(1) Company Secretary(2) General & Supervisory Board Executive Board of Directors Risk Committee(4) Financial Affairs Committee (4) Committees: • Risk • Financial & Credit • CALCO Remuneration Committee (4) • Nomination Committee (4) Compliance Committee(4) Internal Control System Compliance & Product • Digital Transformation Costs & Investments Impairment (1) Elected by the General Meeting upon a proposal of the General and Supervisory Board; (2) The General and Supervisory Board is consulted prior to any proposal of the Executive Board of Directors related to the appointment of the Company Secretary and Alternate Secretary. (3) The Monitoring Committee is composed of three members. The Monitoring Committee is an advisory body for the purposes of the Contingent Capital Agreement entered into between the Company and the Resolution Fund; (4) The Special Committees are composed of members of the General and Supervisory Board. The General and Supervisory Board sets up, appoints the members and approves the internal rules of the Special Committees. Monitoring Committee(3) 48 48#49Corporate Governance ...with 6 out of the 10 GSB members being independent, and since Aug-22, a new composition of the EBD General and Supervisory Board 4-years term: 2021 to 2024 Chairman Byron Haynes (1) Vice-chairman Karl-Gerhard Eick (1) Executive Board of Directors 4-years term: 2022 to 2025 Chief Executive Officer Mark Bourke Monitoring Committee 4-years term: 2021 to 2024 Chairman José Bracinha Vieira Members Chief Financial Officer Leigh Bartlett GSB Members Donald Quintin Kambiz Nourbakhsh Mark Coker Benjamin Dickgiesser John Herbert (1) Robert A. Sherman (1) Carla Antunes da Silva (1) William Henry Newton (1) Chief Commercial Officer (Retail) Luis Ribeiro Chief Commercial Officer (Corporate) Andrés Baltar Luísa Soares da Silva Carlos Brandão Chief Legal and Compliance Officer Chief Risk Officer Chief Credit Officer Rui Fontes novobanco (1) Independent Pedro Marques e Pereira Carlos Miguel Roballo To monitor the assets included in the Contingent Capital Agreement 49#50ESG ESG Strategy | Sustainable Development Goals Goals aligned to actively contribute to the 2030 SDGs defined by the United Nations Global Compact and with the Paris Agreement. Sustainable Business Social & Financial Well-being SUSTAINABLE DEVELOPMENT GOALS Responsible Banking 8 DECENT WORK AND ECONOMIC GROWTH 13 CLIMATE ACTION 3 GOOD HEALTH AND WELL-BEING QUALITY EDUCATION DECENT WORK AND ECONOMIC GROWTH QUALITY EDUCATION GENDER EQUALITY DECENT WORK AND ECONOMIC GROWTH CLIMATE ACTION Minimize the negative environmental impact of our operations, promoting innovation and digitalization Incorporating ESG risks and opportunities in our business model and commercial offer Supporting our customers in the transition to a carbon neutral economy Ensuring equal opportunities and the well-being of our employees Promoting financial and digital literacy among our customers and public in general Tailoring products to customer needs, integrating social considerations and promoting savings Ensure ESG integration into the bank's governance model Select suppliers based on a sustainability scoring Ensuring equal gender in the bank's top management staff novobanco 50 50#51ESG Novobanco 2024 commitments Group novobanco ESG + 4.5 p.p. women in senior leadership positions 11 + €600mn - 18% GHG emissions (scope 1 e 2)5 €0mn + 50% low emissions vehicles (electric or hybrid) 100% green electricity procurement 15 - 30% novobanco Sustainable Business in Green Investment¹ (vs. 2021) financing to excluded sectors² Social and Financial Well-being 40% employees benefiting from social well-being program6 + 2.5 p.p. Responsible Banking women in senior leadership positions 11 + 3 p.p. employees assessed Healthy (psychosocial assessment 7) (vs. 2021) .0.9 p.p. gender pay gap 12 30% investment products with ESG characteristics³ + 8 p.p. employees engagement level (vs. 2021) + 3 partnerships with to promote employment of people with disabilities 13 paper consumption4 (ton, vs. 2021) + 11.8 points in customers' NPS9 (vs. 2021) 90% suppliers with sustainability scoring 14 -18% CO2 emissions from own operations5 (ton. vs. 2021) + 9,594 hours from employees volunteering service initiatives 10 (vs. 2021) +39,160 hours ESG training to employees novobanco 1. Origination of financing or own portfolio investments in companies whose main economic activity is eligible to the European Taxonomy and origination of financing or own portfolio investments where the use of funds by the borrower or the projects are directed to economic activities eligible to the European Taxonomy or are aimed at investments in energy transition or the transition of the company's business model towards green activities; 2. Economic sectors not financed by novobanco: Weapons, Prostitution, Pornography, Coal (mining and energy production) and Trade in wildlife and endangered species; 3. Investment Funds, Financial Insurance and Structured Products; 4. Reduction of the consumption of photocopy paper, resulting from the implementation of the Phygital program in the commercial network (started in 2019) and the dematerialization of processes in central services; 5. Scope 1 and 2 GHG emissions; 6. Percentage of employees who attended at least 2 program initiatives per year. Programme of initiatives to promote balance between personal and professional life, mental and physical health, healthy living, etc.; 7. Annual psychosocial risk assessment study of novobanco's employee base; 8. Assessment of the level of employee engagement carried through the Pulse survey (average % of employee engagement); 9. Net Promoter Score calculated for Individual Clients - BASEF; 10. Promotion of volunteering actions in strategic areas of social impact of the bank. Each employee can take 1 day leave per year for volunteer work; 11. First line managers and Executive Board of Directors; 12. Gender pay gap weighted by the representativeness of each Performance Function; 13. Number of organisations with active partnerships with the Bank; 14. Suppliers with a continuous relationship with novobanco and annual turnover of over 10 thousand euros; 15. In all locations where the option is available and the contract is held by novobanco. 51#521H22 Financial Statements Income Statement - Quarterly data (€ million) Net Interest Income 1Q21 2Q21 3Q21 4Q21 1Q22 2Q22 €mn YoY % YoY 145.7 143.5 140.9 143.2 133.5 134.5 (9.0) (6%) Fees and Commissions Commercial Banking Income Capital Markets Results Other Operating Results 62.8 72.8 72.3 74.6 68.8 75.6 +2.8 +4% 208.5 216.3 213.2 217.9 202.3 210.1 (6.2) (3%) 52.8 40.5 (59.7) 42.2 91.4 (5.6) (46.1) (114%) 12.2 (41.3) 30.3 39.2 16.7 56.5 +97.8 (237%) Banking Income 273.5 215.5 183.9 299.3 310.4 261.0 +45.5 +21% Operating Costs 102.7 101.4 101.6 102.6 103.6 105.1 +3.7 +4% Staff Costs 58.7 58.9 57.9 57.8 55.7 56.1 (2.8) (5%) General and Administrative Costs 35.9 34.2 35.1 35.8 38.2 39.2 +4.9 +14% Depreciation 8.1 8.2 8.6 9.0 9.8 9.8 +1.6 +19% Net Operating Income 170.8 114.1 82.3 196.6 206.8 155.9 +41.8 +37% Net Impairments and Provisions 61.8 27.4 70.4 193.1 21.8 (2.0) (29.4) (107%) Credit 54.9 29.8 30.3 34.4 14.3 5.0 (24.8) (83%) Securities 0.9 15.1 1.4 30.4 11.1 30.6 +15.4 +102% Other Assets and Contingencies 6.0 (17.5) 38.7 128.4 (3.6) (37.6) (20.1) +114% Income before Taxes 109.0 86.7 11.9 3.5 185.0 157.9 +71.2 +82% Corporate Income Tax Special Tax on Banks 4.2 16.9 (8.1) (28.2) 7.4 11.6 (5.3) (32%) 32.8 1.5 0.0 (0.1) 34.1 (1.5) (100%) Income after Taxes 72.0 68.4 20.0 31.8 143.5 146.4 +78.0 +114% Non-Controlling Interests 1.3 1.4 3.6 1.4 0.9 22.3 +20.9 +1 521% Net Income for the period 70.7 67.0 16.4 30.4 142.7 124.0 +57.1 +85% novobanco 52 42#531H22 Financial Statements Balance Sheet (€ thousands) Dec-21 Jun-22 Dec-21 Jun-22 Cash, cash balances at central banks and other demand deposits 5,871,538 6 225 736 Financial liabilities held for trading 306,054 163 373 Financial assets held for trading Financial assets mandatorily at fair value through profit or loss 377,664 799,592 200 800 Financial liabilities measured at amortised cost 40,215,994 40 898 619 583 312 Due to banks 10,745,155 9 874 931 Financial assets at fair value through profit or loss, or through other comprehensive income Due to customers 27,582,093 29 030 063 7,220,996 2 679 702 Financial assets at amortised cost 26,039,902 31 329 794 Debt securities issued and subordinated debt and liabilities associated with transferred assets 1,514,153 1 542 850 Debt securities Loans and advances to credit institutions 2,338,697 50,466 6 979 236 46 916 Other financial liabilities Derivatives Hedge accounting 374,593 19,639 450 775 344 320 Provisions 442,834 397 213 Loans and advances to customers 23,650,739 24 303 642 Tax liabilities 15,297 11 025 Derivatives Hedge accounting 19,639 344 320 Current tax liabilities 12,262 7 990 Fair value changes to the hedged items in portfolio hedge of interest rate risk 30,661 -190 983 Deferred tax liabilities 3,035 3 035 Other liabilities 443,437 754 278 Investments in subsidiaries, joint ventures and associates 94,590 118 687 Tangible assets Tangible fixed assets 864,132 981 274 Liabilities included in disposal groups classified as held for sale 968 1 755 Total Liabilities 41,469,044 42 241 245 238,945 268 457 Investment properties 625,187 712 817 Capital 6,054,907 6 054 907 Intangible assets Tax assets 67,986 69 539 Current tax assets Deferred tax assets 779,892 35,653 744,239 848 511 Other comprehensive income Retained earnings - accumulated -1,045,489 -1 183 107 -8,576,860 -8 577 074 36 194 Other reserves 6,501,374 6 670 293 812 317 Other assets 2,442,550 2 290 356 Profit or loss attributable to parent company shareholders Minority interests (Non-controlling interests) Non-current assets and disposal groups classified as held for sale 9,373 11 953 Total Equity Total Assets 44,618,515 45 493 001 Total Liabilities and Equity 184,504 31,035 3,149,471 44,618,515 266 724 20 013 3 251 756 45 493 001 novobanco 53#541H22 Financial Statements Customer loans €mn Jun-21 Dec-21 Jun-22 YTD ▲ Consolidated €mn % Customer Loans (net) Customer Loans (gross) Corporate Residential Mortgage Consumer finance and other Non-Performing Loans (NPL)* Impairment NPL Ratio* ** NPL coverage* Cost of Risk (bps) Cost of Risk (bps) - Covid Adjusted 23 470 23 651 24 304 653 2.8% 24 945 24 899 25 541 642 2.6% 13 689 13 710 14 268 558 4.1% 9 889 9 782 9 833 51 0.5% 1 367 1 406 1 440 33 2.4% 2 209 1 749 1 695 - 54 -3.1% 1 474 1 248 1 237 - 11 -0.9% 7.3% 5.7% 5.4% - 0.3p.p. 78.4% 71.4% 73.0% 1.6p.p. 68 60 15 -45 -74.8% 40 31 * Includes Deposits and Loans and advances to Banks and Customer Loans ** Includes impairment for Customer Loans and to Banks novobanco 54 5.4#551H22 Financial Statements Capital ratios CAPITAL RATIOS (CRD IV/CRR) Risk Weighted Assets Own Funds 31-Dec-21 31-Dec-21 31-Mar-22 31-Mar-22 (Phased-in) (Fully loaded) (Phased-in) (Fully loaded) 30-Jun-22 (Phased-in) * mn€ 30-Jun-22 * (Fully loaded) (A) 24 929 24 689 23 761 23 622 23 058 22 914 Common Equity Tier 1 (B) 2 768 2 507 2 571 2 419 2 711 2 558 Tier 1 (C) 2 769 2 509 2 572 2 420 2712 2 559 Total Own Funds (D) 3 276 3 016 3 076 2 925 3 214 3 061 Common Equity Tier 1 Ratio (B/A) 11.1% 10.1% 10.8% 10.2% 11.8% 11.2% Tier 1 Ratio (C/A) 11.1% 10.1% 10.8% 10.2% 11.8% 11.2% Solvency Ratio (D/A) 13.1% 12.2% 12.9% 12.4% 13.9% 13.4% Leverage Ratio 6.0% 5.4% 5.5% 5.2% 5.7% 5.4% * preliminary novobanco 55#561H22 Financial Statements Pension Funds Key Figures (€ Millions) Dec-20 Dec-21 Retirement Pension Liabilities 1 935 1 929 Jun-22 1517 Pension Fund Portfolio (Dec-21) Fund Assets 1 908 1 908 1 546 Equity Liabilities Coverage 99% 99% 102% 10% Real Estate 13% Dec-20 Dec-21 Jun-22 Actuarial Assumptions Cash 3% Project rate of return on plan assets 1.00% 1.35% 3.40% 1% Investment Discount rate 1.00% 1.35% 3.40% Funds Pension increase rate 0.25% 0.50% 0.75% Salary increase rate Mortability table men Mortability table women TV 88/90-2 yrs TV 88/90-3 yrs TV 88/90-3 yrs 0.50% 0.75% 1.00% TV 88/90 TV 88/90 TV 88/90 novobanco 72% Fixed Income 56#571H22 Financial Statements Deferred Tax Assets Overview of Deferred Tax Assets (€ millions) Dec-21 Jun-22 Timing-Difference DTAS - under Special Regime (1) 267 267 Timing-Difference DTAs - other 473 541 Total DTAs on Balance Sheet 741 809 • Tax losses carried forward are recognised to the extent they are expected to be recovered with future taxable income; • novobanco conservatively assesses the recoverability of tax losses carried forward considering its projected taxable income over a 5 year period; . DTAs under Special Regime: YoY decrease reflects the conversion rights relating to 2020 fiscal year. novobanco Deferred Tax Assets as % of Equity¹ novobanco vs listed banks and average by market c.50% as of Jun-17 45% 46% 25% novobanco Bank 1 (1) Novobanco analysis; considering most recent available information; Spanish banks includes Caixabank, Bankinter, Unicaja and Sabadell; Greek banks includes NBG, Eurobank, Alpha Bank and Piraeus Bank 93% Spanish Top domestic Banks (avg) Greek Banks (avg) 57 52#581H22 Financial Statements CCA: €485mn available CCA - Contingent Capital Agreement Compensation amounts (€ million) 4,367 3,890 792 1,149 1,035 429 • 112 317 1 485 165 209 • • Losses in CCA 2018 2019 2020 2021 CCA Assets Maximum (2020) 2021 2022 Remaining divergences call CCA Amount CCA available² (€485mn) CCA received (€3.4bn) As agreed during the sale process of novobanco, a Contingent Capital Agreement ("CCA") was entered into between the Resolution Fund ("FdR") and the Bank. • At the time of the sale, a capital injection backstop was agreed between the Portuguese Government and EU. • novobanco is to be paid up to €3.89bn for losses recognised in a predefined portfolio of assets ("CCA Assets") and other CCA covered losses (the "CCA Losses") in case the capital ratios decrease below a pre-defined threshold. Minimum Capital Condition: CET1 or Tier 1 < CET1 or Tier 1 SREP requirement Plus a buffer for the first 3 years (2017-2019) CET1 < 12% • The mechanism is in place until Dec-25 (the "CCA Maturity Date"), which date can be extended, under certain conditions, by one additional year. novobanco (1) Composed by €147mn related to for the discontinuation (1) Composed by €147mn related to for the discontinuation of Spanish operations and €18mn from Restructuring Funds; In addition to the €165mn divergencies from the CCA call of 2020 accounts, there is also an arbitration regarding the application of transitional arrangements for IFRS 9 dynamic approach; (2) Funds not included in Capital Ratios 58#59Ratings Moodys and DBRS ratings MOODY'S Long Term June 2022 Short Term DBRS April 2022 Long Term Short Term Baseline credit assessment (BCA) Adjusted baseline credit assessment (BCA) b2 50 Intrinsic assessment B (high) b2 50 Counterparty risk rating Ba2 Deposits Counterparty risk Ba2 (cr) NP (cr) assessment Debt Ba3 Deposits NP Positive Outlook B3 Issuer rating NP B (high) Trend Stable R-4 Trend Stable BB (low) Trend Stable R-4 Trend Stable B (high) Trend Stable R-4 Trend Stable Critical obligations rating BB (high) Trend Stable R-3 Senior unsecured debt Subordinated debt novobanco Positive Outlook B3 Subordinated Debt B (low) Trend Stable Trend Stable 59#60Glossary Income Statement Fees and commissions Commercial banking income Capital markets results Other operating results Banking income Operating costs Net operating income Provisions and impairments Fees and commissions income less fees and commissions expenses Net interest income and fees and commissions Dividend income, gains or losses on derecognition of financial assets and liabilities not measured at fair value through profit or loss, gains or losses on financial assets and liabilities held for trading, gains or losses on financial assets mandatorily at fair value through profit or loss, gains or losses on financial assets and liabilities designated at fair value through profit and loss, gains or losses from hedge accounting and exchange differences Gains or losses on derecognition of non-financial assets, other operating income, other operating expenses, share of the profit or loss of investments in subsidiaries, joint ventures and associates accounted for using the equity method Net interest income, fees and commissions, capital markets result and other results Staff costs, general and administrative expenses and depreciation and amortisation Banking income - operating costs Provisions or reversal of provisions, impairment or reversal of impairment on financial assets not measured at fair value through profit or loss, impairment or reversal of impairment of investment in subsidiaries, joint ventures and associates and impairment or reversal of impairment on non-financial assets Balance Sheet/Liquidity Assets eligible as collateral for rediscount operations with the ECB Securities portfolio Due to customers Banco de Portugal Instruction n. 16/2004 Net ECB funding Total Customer Funds Off-Balance Sheet Funds Loan to deposit ratio Banco de Portugal Instruction n. 16/2004 novobanco The Eurosystem only grants credit against adequate collateral. This collateral consists of tradable financial securities and other types of assets such as nontradable assets and cash. The expression "eligible assets" is used for assets that are accepted as collateral by the Eurosystem. Securities (bonds, shares and other variable-income securities) booked in the trading portfolios at fair value through profit or loss, mandatory at fair value through profit or loss, at fair value through orther comprehensive income and at amortised cost. Amounts booked under the following balance sheet accouting headings: [#400 - #34120 + #52020 + #53100]. Difference between the funding obtained from the European Central Bank (ECB) and the placements with the ECB. Deposits, other customer funds, debt securities placed with clients and off-balance sheet customer funds. Off-balance sheet funds managed by Group companies, including mutual funds, real estate investment funds, pension funds, bancassurance, portfolio management and discretionary management. Ratio of [gross loans - (accumulated provisions / impairment for credit)] to customer deposits. 60 60#61Glossary Asset Quality and Coverage Ratios Overdue loans ratio Overdue loans > 90 days ratio Overdue loans coverage ratio Overdue loans > 90 days coverage ratio Coverage ratio of customer loans Cost of risk Non-performing loans Non-performing loans ratio Non-performing loans coverage ratio Efficiency and Profitability Ratios Efficiency (Staff costs / Banking income) Banco de Portugal Instruction n. 16/2004 Efficiency (Operating costs / Banking income) Banco de Portugal Instruction n. 16/2004 Profitability Banco de Portugal Instruction n. 16/2004 Return on average net assets Banco de Portugal Instruction n. 16/2004 Return on average equity Banco de Portugal Instruction n. 16/2004 Return on tangible equity (ROTE) Ratio of overdue loans to total credit. Ratio of overdue loans > 90 days to total credit. Ratio of accumulated impairment on customer loans (on balance sheet) to overdue loans. Ratio of accumulated impairment on customer loans (on balance sheet) to overdue loans > 90 days. Ratio of impairment on customer loans (on balance sheet) to gross customer loans. Ratio of credit risk impairment charges accounted in the period to gross customer loans. Total balance of the contracts identified as: (i) in default (internal definition in line with article 178 of Capital Requirement Regulation, i.e., contracts with material overdue above 90 days and contracts identified as unlikely to pay, in accordance with qualitative criteria); and (ii) with specific impairment. Ratio of non-performing loans to the sum of total credit, deposits with banks and Loans and advances to banks Ratio of impairment on customer loans and loans and advances to banks (on balance sheet) to non-performing loans. Ratio of staff costs to banking income (net interest income, securities income, net fees and commissions, capital markets results, income from associated companies and subsidiaries and other operating income and expenses). Ratio of operating costs (staff costs, general and administrative expenses and depreciation and amortisation) to banking income (net interest income, securities income, net fees and commissions, capital markets results, income from associated companies and subsidiaries and other operating income and expenses). Ratio of banking income (net interest income, securities income, net fees and commissions, capital markets results, income from associated companies and subsidiaries and other operating income and expenses) to average net assets. Ratio of income before tax and non-controlling interests to average net assets. Ratio of income before tax and non-controlling interests to average equity. Ratio of return for the period and tangible equity. The return corresponds to the annualized result before tax, less the contribution on the banking sector and contributions to resolution funds, being adjusted for events considered extraordinary. Tangible equity calculated as risk weighted assets x 12%. novobanco 61#62Glossary Designations & abbreviations YTD YOY ECB QE CRD IV CRR NIM €, EUR €mn €bn €k bps p.p. tCO₂e RWA Year-to-date Year-on-Year European Central Bank Quantitative Easing Capital Requirements Directive 2013 Capital Requirements Regulation Net Interest Margin euro millions of euro billions of euro thousands of euro basis points percentage points tonnes of carbon dioxide equivalent Risk weighted assets novobanco Investor Relations contacts: Maria Fontes, Head of IR Website: www.novobanco.pt/english | Email: [email protected] | Phone: +351 21 883 95 95 Avenida da Liberdade, 195, 9th floor | 1250-142 Lisboa | Portugal 62 62#63novobanco