Espírito Santo Financial Group, S.A.

Espírito Santo Financial Group, S.A. (ESFG or the Group) is a Luxembourg-registered financial holding company with the Bank of Portugal being its primary regulator. ESFG‘s diverse business lines include banking, insurance and healthcare, with the largest contributor to net earnings being Banco Espírito Santo, S.A., the 3rd largest bank in Portugal. As of 31 December 2010, ESFG had EUR 87.2 billion in total assets; BES had EUR 83.7 billion in total assets.