Banco BPI S.A. Covered Bonds (Obrigações Hipotecárias - Mortgages): Surveillance Report

Ratings

• Date Issued	Debt Rated	Rating	Trend	Action	Attributesi US = Lead Analyst based in USA CA = Lead Analyst based in Canada EU = Lead Analyst based in EU UK = Lead Analyst based in UK E = EU endorsed U = UK endorsed Unsolicited Participating With Access Unsolicited Participating Without Access Unsolicited Non-participating
  25-Mar-22	OH 16 Tranche 1 - PTBBP7OE0022	AA (low)	--	Confirmed	EU U
  25-Mar-22	OH 18 Tranche 1 - PTBBBJOM0020	AA (low)	--	Confirmed	EU U
  25-Mar-22	OH 19 Tranche 1 - PTBPITOM0017	AA (low)	--	Confirmed	EU U
  25-Mar-22	OH 21 Tranche 1 - PTBPIZOM0027	AA (low)	--	Confirmed	EU U
  25-Mar-22	OH 14 Tranche 1 - PTBBRROE0048	AA (low)	--	Confirmed	EU U
  25-Mar-22	OH 17 Tranche 1 - PTBBBGOE0023	AA (low)	--	Confirmed	EU U
  25-Mar-22	OH 20 Tranche 1 - PTBPIYOM0028	AA (low)	--	Confirmed	EU U
  25-Mar-22	OH 22 Tranche 1 - PTBPIAOM0026	AA (low)	--	Confirmed	EU U
  25-Mar-22	OH 23 Tranche 1 - PTBPIHOM0037	AA (low)	--	Confirmed	EU U
  25-Mar-22	OH 9 Tranche 1 - PTBBP6OE0023	AA (low)	--	Confirmed	EU U

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