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Institutional Presentation Unaudited Financial Information May 2017 Agenda

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Institutional Presentation Unaudited Financial Information May 2017 Agenda Institutional Presentation Unaudited financial information May 2017 Agenda 1. General Overview and Business Model 2. 1Q2017 Results 3. Summary Appendix : Consolidated Balance Sheet and Income Statement 2 NOVO BANCO was created in Aug-14 after the resolution measure applied to BES. Share capital fully underwritten by the Resolution Fund Net Assets 1 (Portuguese Banks, € billion) Capital and shareholder structure 2016 1Q2017 Resolution 100% 93.5 96.6 2 Fund (€4.9 billion) 71.3 72.1 52.3 51.1 44.8 44.9 . Share capital of NOVO BANCO amounts to €4.9 38.3 33.0 billion and is fully underwritten by the Resolution Fund. The sale process of NOVO BANCO was re-launched in Jan-16, and on 31 March 2017, Banco de Portugal Bank 1 Bank 2 - Bank 3 Bank 4 informed about the selection of LONE STAR for the conclusion of the sale process and that the Resolution Fund had signed the contractual documents of the sale. The closing of the sale operation is depending on . NOVO BANCO is a reference institution obtaining the required regulatory authorizations (including in the Portuguese financial system, with by the European Central Bank and the European over 1.3 million clients Commission) and on the completion of a liability management exercise. 3rd largest bank in Portugal by net assets (€51.1 billion) 1 Source: 1Q2017 Results Press Releases (CGD, Millennium bcp, Santander Totta and BPI). 2 The Resolution Fund was created in 2012 and its primary goal is to provide financial support for the implementation of resolution measures determined by Banco de Portugal. The Resolution Fund is a public-law legal person with 3 administrative and financial autonomy. It is operated within Banco de Portugal. NOVO BANCO timeline 3-Aug-14 15-Sep-15 15-Dec-15 15-Jan-16 31-Mar-17 NOVO BANCO created 1st sale process Restructuring Plan agreed Banco de Portugal Banco de Portugal announces following Resolution for NOVO BANCO with DG COMP. Internal announces the re- selection of LONE STAR for measure applied to BES suspended by separation between launch of the sale the conclusion of the sale by Banco de Portugal Banco de Portugal Commercial Franchise (core) process of NOVO process. Closing dependent (‘BdP’) decision and Side Bank (non-core) BANCO on 3 pre-conditions 3-Aug-14 17-Sep-14 15-Sep-15 14-Nov-15 15-Dec-15 29-Dec-15 15-Jan-16 31-Mar-16 19-Aug-16 31-Mar-17 17-Sep-14 14-Nov-15 29-Dec-15 31-Mar-16 19-Aug-16 Banco de Results of Comprehensive Banco de Portugal, acting as BdP announces that both António Portugal Assessment undertaken by ECB Resolution Authority, announces strategic and market sale Ramalho appoints a with no shortfall in Baseline several decisions, including re- processes would be pursued becomes CEO new Board Scenario but €1.4 billion shortfall transfer of 5 series of non- and published eligibility of NOVO of Directors in Adverse Scenario subordinated bonds to BES criteria for investors BANCO 4 NOVO BANCO broke with former BES legacy of a financial conglomerate to focus on a domestic commercial franchise …-2014 2014-2015 2015-2020 * • A financial conglomerate, with a full • Transition management agenda to • Refocus on the Portuguese range of banking services… prepare the sale of the bank market supported by a reduced international footprint (only when • Retail banking • Recovery of client confidence synergetic with domestic and retain deposits • Private banking operations) • Preserve the group integrity and • Corporate banking • Identification of two realities with maximise the option value for distinct management agendas: • Trade finance the buyer (with the exception of the sale of BESI) • A Commercial Franchise to • Asset management recover and grow in core • Pursue incremental segments (retail and corporate) • Investment banking management improvements leveraging a competitive • etc • Start of the restructuring process value proposition • …with a growing international • Leadership in corporate footprint in Iberia, Portuguese segment speaking countries and oil rich emerging market countries… • High potential and efficient retail model • …and a diversified presence across the Portuguese economy • A Side Bank to manage and through several financial and non- deleverage a legacy portfolio financial equity stakes of non-core and non-productive assets * the completion of the announced sale to Lone Star could impact the current strategy 5 Strategic priorities up to now: leveraging key commercial strengths and orderly reduction of exposure to non-core assets 2014 2015 2016 2017 I Solving liquidity and funding constraints II Managing the capital position III Restoring profitability (Commercial Franchise) IV Downsize Side Bank I II III IV • Deleverage • Manage regulatory capital • Focus on core business • Side Bank asset size of position through with distinctive value €8.7 billion as of Dec-16, • Improve liquidity and deleveraging proposition down from €10.8 billion as of funding position by Dec-15 strengthening the customer • Sale of BESI • Normalise funding costs deposit base • Wind-down or sell non- • Selected sales of real • Reduce operating costs by core international • Reduce non-performing estate and equity stakes simplifying the group operations asset base structure and reducing • Optimisation of RWAs footprint • Accelerated sale of non- • Estimated Phased-in core assets (real estate, • Increase productivity CET 1 Ratio of 10.8% at equity stakes) leveraging on digitalisation Mar-17 • Recovery or sale of out-of- • Reduce cost of risk and impairment charges by strategy credit portfolio reviewing risk appetite and strengthening governance 6 NOVO BANCO is a universal bank, with a wide offer and a well defined approach to each of its business segments Business Segments Market Share in selected Business Lines Dec-16 Domestic 1 Commercial Trade Finance 22.6% Banking * 2 Corporate credit 19.6% 3 POS 18.3% 2 Consumer lending 13.7% 2 Mortgages 10.2% 2 Deposits 11.9% 5 Life insurance 11.2% . NOVO BANCO operates a 4 diversified range of financial Pension plans 11.9% 4 services. Asset management 10.0% * Domestic Commercial Banking Includes Retail, Corporate and Institutional Clients and Private Banking Dec-16 data. (1) SWIFT; (2) Data published by BdP and INE; (3) SIBS, Unicre; (4) APFIPP, CMVM, management estimates; (5) APS, ASF, management estimates. 7 NOVO BANCO is the reference bank in Portugal in Corporate Banking, in particular for SMEs Business Segments Corporate Banking . NOVO BANCO has a market share of 19.6% in corporate credit. 83%2 of large Domestic 2 Commercial corporate and 79% of SMEs are NB Clients. Banking * . 21 corporate centres (including 1 centre in NB Açores), widespread throughout Portugal. Commitment to be a reference partner for the corporate clients daily activities. To support the corporate segment across all industry sectors placing a particular focus on the exporting SMEs and those that incorporate innovation in their products, services or production systems. Innovative offer with Express Bill (solution for payments and collections) and Fine Trade (tool that identifies export opportunities for corporate clients). Weight of Corporate Credit in 1 Overall portfolio (Portuguese Banks) Clients of NOVO BANCO 66% 50% 46% From c. 3,500 40% 40% From c. 25k SME’s 2 Large Corporate in in Portugal, 79% 2 are NB’s Clients. Portugal, 83% are NB’s Clients. - Bank 1 Bank 2 Bank 3 Bank 4 * Domestic Commercial Banking Includes Retail, Corporate and Institutional Clients and Private Banking. 1 Data as of Mar-17. Source: 1T2017 Press Releases (CGD, Millennium bcp, Santander Totta and BPI). 2 Estimated by management, based on Informa DB + applying an average of NB group companies to the number of non 8 clients in the market NOVO BANCO has a leading domestic Retail and Private Banking franchise, supported by a leading multi-channel platform Business Segments Retail and Private Banking . NOVO BANCO has a market share of 10.2% and 13.7% in residential Mortgages Domestic Commercial and Personal Loans respectively. Banking * . The Bank has a specialized, diversified and distinct product offer to meet its private individuals, private banking and small business clients’ needs. In addition to the strong branches network and the 13 private banking units, NOVO BANCO has a multi-channel approach through internet banking, phone banking, mobile banking (smartphone and tablet) . Banco BEST, a 100% subsidiary online commercial bank targetting affluent and private banking customers. (Retail) . Large client base with Sub-Segmentation Retail Branches in Portugal more than 1.3 million 2016 clients Small 651 650 657 1Q2017 Businesses 627 618 615 507 507 445 445 Affluent Mass Market Private Banking is also sub segmented in “Executive Professionals”; “Entrepreneurs”; “Traditional Family” and “Top Private”. Bank 1 Bank 2 Bank 3 ----* Bank 4 Sub-segmentation leads to a more 507 domestic branches (reduction of 89 in 2016) focused commercial approach in line with the new business environment reality * Domestic Commercial Banking Includes Retail, Corporate and Institutional Clients and Private Banking. 9 Domestic Commercial Banking complemented by Asset Management, Life Insurance and Markets, with international presence to support NOVO BANCO clients Business Segments . Asset Carried out by GNB Gestão de Ativos (100% owned by NOVO Management BANCO). Domestic . Wide product range covering mutual funds, real estate funds, Commercial pension funds, discretionary and wealth management services. Banking . Total AuM’s as of Mar-17 of €11.7 billion. Carried out by GNB Seguros Vida (100% owned by NOVO Life BANCO), which provides life insurance products and retirement Insurance plans both in Portugal and Spain. NOVO BANCO also has a 25% stake in GNB Seguros, which focus its activity in Portugal with non-life products such as home, car and health insurance. Asset Management Markets . Global financial management activity of the Group, whether of a strategic nature or as part of current trading activity. Issuance of debt and placement of funds in the financial markets; Insurance .
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