Banco Comercial Português S A : Português, S.A., informs about call notice of the General Meeting

a share capital of 4,725,000,000.00 Euros, registered	882.
having	501 525
Oporto,	and TIN
at Praça D. João I, 28, in	commercial registration
with registered office	Oporto with the single
PORTUGUÊS, S.A,	Registry Office of
BANCO COMERCIAL	at the Commercial
Ref. 70200230

BANCO COMERCIAL PORTUGUÊS, S.A.

Registered Office: Praça D. João I, 28 - Oporto

Share Capital 4.725.000.000 euros

Registered at the Commercial Registry Office of Oporto

Single commercial registration and TIN 501 525 882

General Meeting

20 of December 2022

CALL NOTICE

I do hereby convene, under the provisions of article 375 no. 1 and 376 no.1 of the Companies Code and pursuant to article 21-I of the Securities Code, the General Meeting of Shareholders of Banco Comercial Português, S.A.

For the smooth running of the meeting, the General Meeting will take place at the Bank's premises, located at TagusPark, Av. Prof. Doutor Cavaco Silva, Building 8, in Porto Salvo, Oeiras, on the 20 of next December from 2:30 p.m., and, simultaneously, through electronic means, with the following

Agenda

Item One - To resolve amending article 4 (1) of the articles of association (Share Capital) aiming at the special purpose of reformulating the items of equity, comprising the reinforcement of funds able of being regulatory qualified as distributable by means of the reduction of the share capital in 1,725,000,000 euros, without changing either the existing number of shares or net equity;

Item Two - To resolve on the ratification of the co-optation by the Board of Directors of 2 Directors for the 2022/2025 term of office;

Item Three - To resolve on the election of an alternate member of the Audit Committee for the term of office 2022/2025.

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a share capital of 4,725,000,000.00 Euros, registered	882.
having	501 525
Oporto,	and TIN
at Praça D. João I, 28, in	commercial registration
with registered office	Oporto with the single
PORTUGUÊS, S.A,	Registry Office of
BANCO COMERCIAL	at the Commercial
Ref. 70200230

RELEVANT INFORMATION ON THE GENERAL MEETING

1. Relevant Dates

Registration Date: 00:00 of 13 of December 2022

Until 13 of December 2022, 11h 59 p.m.

• Reception by the Chairman of the Board of the General Meeting of the statements issued by the financial intermediaries indicating the number of shares registered in the name of each shareholder, with reference to the Registration Date.
• Reception by the Chairman of the Board of the General Meeting statements issued by shareholders who, in a professional capacity, hold the shares in their own name, but on behalf of customers and intend to vote differently with their shares.

From 0:00 of 12 of December 2022 and 5:00 p.m. of 18 of December 2022 - Period to vote through electronic means

Until 16 of December 2022, at 5:00 p.m.

• Reception of the proxy letters
• Reception of the postal ballots

1. Preliminary information on the General Meeting

On the date of publication of this call notice, it will become available to the Shareholders, at the registered office and on the website of Banco Comercial Português, S.A. ("Bank"), www.millenniumbcp.pt, the information provided for in article 21-J, no. 1 of the Securities Code (SC), as well as that referred to in article 289, no. 1 of the Companies Code (CC) and the documents to be submitted to the General Meeting known, on that date, by the company, which include the full text related to the amendment of the articles of association object of Item 1 of the agenda.

The Bank shall keep the above-mentioned information on the bank's website, www.millenniumbcp.pt, for ten years.

1. Rights of the Shareholders

1 - Right to be informed

During the General Meeting, any Shareholder may request, in person or through the remote visualisation and communication system of the General Meeting, the provision of true, complete, and explanatory information that enables him/her to form a well- grounded opinion on the matters under appraisal. The Board will accept these requests, or not, considering the respective order of entry and their number, with a view to the good management and progress of the Meeting's work.

2

a share capital of 4,725,000,000.00 Euros, registered	882.
having	501 525
Oporto,	and TIN
at Praça D. João I, 28, in	commercial registration
with registered office	Oporto with the single
PORTUGUÊS, S.A,	Registry Office of
BANCO COMERCIAL	at the Commercial
Ref. 70200230

The information requested shall be provided by the shareholders subscribers of proposals or by the member of the corporate body of the company, duly empowered to do so, and may be refused if its provision is able of seriously damage the company or another company connected to it or constitutes a violation of the duty of secrecy imposed by law.

2 - Ways to attend the General Meeting

Shareholders or their representatives who are registered and duly authorized to participate in the General Meeting may attend the meeting in person or by electronic means, through the live video and audio transmission from the room, and we hereby provide the following information:

1. Shareholders or their representatives who wish to attend and intervene by the live video and audio transmission from the room must guarantee that they possess the appropriate means to do so, that is, a computer, tablet or smartphone, in any case with access to internet.
2. On the day prior to the meeting, a link shall be sent to the e-mail address provided at the moment the Shareholder, or its representative, manifests intention to participate in the General Meeting, which will enable him/her to follow and participate in the meeting.
3. It is hereby informed that Shareholders wishing to participate in the meeting by electronic means must vote by correspondence or using electronic means, under the terms of Chapter VI of this Call Notice, being able, in any case, to change the direction of their vote in the course of the Meeting.
4. Considering that the General Meeting is scheduled to take place at 2:30 p.m., we do recommend the Shareholders or their duly empowered representatives to access the digital platform 15 minutes prior to the scheduled time to verify if they comply with all the conditions required for their participation. The Shareholders should consult the Instructions to be able to participate in the General Meeting with Microsoft
   Teams, available on the Bank's website, www.millenniumbcp.pt.

3 - Right to add matters to the agenda

Shareholders, single-handedly or grouped, holding at least 2% of the Bank's share capital (302,279,799 shares) may request the inclusion of items in the agenda, by means of a written request addressed to the Chairman of the Board of the General Meeting.

The request must be sent to the e-mail address [e-mail] 5 (five) consecutive days following the publication of this call notice, duly substantiated and accompanied by a proposal for a resolution for each subject whose inclusion is required, as well as proof of ownership of the necessary share capital.

4 - Right to present proposals

Shareholders, single-handedly or grouped, holding at least 2% of the Bank's share capital (302,279,799 shares), may request the inclusion of resolution proposals regarding items in the agenda or added to it.

3

a share capital of 4,725,000,000.00 Euros, registered	882.
having	501 525
Oporto,	and TIN
at Praça D. João I, 28, in	commercial registration
with registered office	Oporto with the single
PORTUGUÊS, S.A,	Registry Office of
BANCO COMERCIAL	at the Commercial
Ref. 70200230

For that purpose, they must send to the e-mail address [e-mail] written request, duly substantiated and accompanied by the proposal(s) for resolution, as well as proof of ownership of the necessary share capital, and such request must be received within 5 (five) calendar days following the publication of this call notice or, regarding items that have been added to it, their publication.

IV.	Attendance in the Meeting and exercise of voting rights

1. Each share is entitled to one vote.
2. To be able to attend the General Meeting, Shareholders must prove their capacity
   as shareholders with right to vote at 0:00 (Portugal legal time) on 13 of December, 2022 (Registration Date), day that corresponds to the 5th trading day prior to the day on which the meeting takes place;
3. Shareholders wishing to participate in the General Meeting must imperatively declare this to the financial intermediary(ies) with which the respective shares are registered up to 11:59 p.m. (Portugal legal time) of 12 of December, 2022. For that purpose, they may use the form available on the Bank's website, www.millenniumbcp.pt;
   The statements to the financial intermediary when this one is Banco Comercial Português, S.A. or Banco ActivoBank, S.A., are also mandatory.
4. The financial intermediary, after being informed of its customer's intention to attend the General Meeting, will transmit that intention to the Chairman of the Board and send the information on the number of shares registered under its customer's name, as at the Registration Date. This communication must be received no later than 11:59 p.m. (Portugal legal time) of 13 of December, 2022, using the e-mail address [e-mail].
   The reception of this communication by the Chairman of the Board within the deadline mentioned above is indispensable for the exercise of the voting right and, if applicable, for the in person participation or access to the meeting through link to be provided.
5. Shareholders who, on a professional basis, hold shares in their own name but on behalf of customers may vote differently with their shares, provided that, in addition to the statement of intention to participate in the General Meeting and the sending, by the respective financial intermediary, of the information referred to in the previous paragraph, submit to the Chairman of the Board, until 11:59 p.m. (Portugal legal time) on 13 of December, 2022, with sufficient and appropriate means of evidence: (i) the identification of each customer; (ii) the number of shares to vote on his/her/its account; and, (iii) the specific voting instructions for each item of the Agenda given by each customer.
6. Shareholders who sell their shares between the registration date and the date of the General Meeting must immediately inform the Chairman of the Board and the CMVM (Portuguese Securities and Market Commission), not harming the exercise of their right to participate and vote in the general meeting, and for this purpose, they may use the following e-mail addresses:

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a share capital of 4,725,000,000.00 Euros, registered	882.
having	501 525
Oporto,	and TIN
at Praça D. João I, 28, in	commercial registration
with registered office	Oporto with the single
PORTUGUÊS, S.A,	Registry Office of
BANCO COMERCIAL	at the Commercial
Ref. 70200230

Chairman of the Board of the General Meeting - [e-mail]

CMVM [e-mail]

1. The limits set in the Bank's Articles of Association, namely those provided for in Article 26(1), shall also apply to the exercise of voting rights:
   "1. Votes cast by a shareholder, either directly or by proxy, shall not be counted in the event that the same:
2. 1. are in excess of 30% of the votes corresponding to the share capital;
   2. exceed the difference between the eligible votes cast by other shareholders who have any relationship listed in no.2 of this article with the said shareholder, and to the extent thereof, and 30% of all the votes corresponding to the share capital."

The 30% of the totality of the votes corresponding to the share capital mentioned in the article transcribed above are equivalent to 4.534.196.986 shares.

1. Shareholders regarding which the information from the financial intermediary(ies) referred to in IV (d) has not been received by 11:59 p.m. (Portugal legal time) of 13 of December, 2022, will not be allowed to vote and attend/participate in the General Meeting.
2. The physical presence of any Shareholder who has voted by postal ballot or using electronic means, or of his/her/its representative, implies the revocation of the vote expressed in those forms;
3. The participation in the audio-visual transmission does not revoke the votes previously exercised by postal ballot or electronic means.
4. Votes cast by postal ballot or by electronic means shall be considered at the time of the counting of the votes notwithstanding the right that every Shareholder or his/her/its representative, who is participating in the audio-visual transmission, has of changing his/her vote choice in the course of the General Meeting, sending, for that purpose, until the close of voting regarding the relevant item on the agenda, a text message (SMS) to the mobile phone number that will be made available until
   19 of December, 2022 on the Bank's website, www.millenniumbcp.ptand on CMVM' SDI. The mobile phone used to amend the vote must be the one provided at the occasion of the signing up or, otherwise, the amendment will not be accepted.
5. In accordance with the law, the Bank may register all the communications made and respective intervening parties in relation to the General Meeting.
6. The Chairman of the Board shall be responsible for verifying the authenticity and adequacy of the votes made by postal ballot and by electronic means and for ensuring they remain confidential until the voting moment. The Bank's employees in charge of IT support to the General Meeting and of handling the votes cast by postal ballot and electronic means are bound by secrecy duty regarding such data.
   When postal ballot fails to indicate the voting choice, the votes cast shall count as abstentions in what regards the proposals already published on the date the voting rights were exercised and as votes against in what regards proposals only disclosed afterwards.

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