1H22 Financial Performance

1H22 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

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