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6 Gráfico 1. Crescimento anual do PIB (%) Gráfico 2. Preço do Petróleo Brent e WTI (USD/Barril).2- :,-.:/7-126 K6/ /1.9K/:/-12-?3,3 3K3.23, 6.,-:-/6..6@,-?, /1K43:/61/ /06. 3 /1K43ND6,-: #S?3,3 S 3 Y613 9,6 3 /1K43ND6,-: S?3,3 S K6,N3106 6!31:6-12,34 9,6?-9 G!H :/3, 16>6. -.2C ;,/ /060-?,676>-,6,-<,-..603/1K43ND631C>-/.:61./ : @/4/030-0-?,-N6.37V0/6?,3E66!3191:/69-70-E-7@,6973,-09ND630/:/ K3:/4/ ?O./2606.@31:6.P912606!31:6-12,34G0-BS?3,3BSH-6?,6461< V73,N60-$06?,6<,3730-3T9/./ND60-2C C>/03-4->3106 6,-.?-2/> <46@343 #2,/44/613,334V70/..6/1:49/916?,6<,3730-3T9/./ND6 0-32/> ,?X@4/:66.2C C>/030-6>-,16.,-</613/.-46:3/.-0-:/0/9,-/1>-.2/, 6:3?/234,--7@ T ,/ C T9/,/06. 3,334V703K,3:3?,-..D ;,/6..6@,-6.?,-N6.6:67?6, /1K43ND6-7 V-5?4/:306?-43 T T93.- #S 16?,-N6 06?-2,O4-6 G!,-12H:67 3?-,./.2F1:/ : K-,23 <46@ ,: : P9, ,: />-,37B.- 79/26 :612/06.. A/ ,-3.9,/ ! @/,37,-.?-2/> $S?3,3$S-0- S?3,3#S3Y6139,6:676!37312-,97-3./1<@/3.3 9,/@6,37-.-.,-:9690-%S?3,3BS ,/030--: >3,6. P9,6. 0-,-K-,F1:/3?-43 Z >-E -7 T93.- M E-7@,6?3,3 6 /12-,>346 SBSH /@6, @/9 0- #S?3,3 #S.23 0/>-,<F1:/3-12,- -0 -! :612,/@9/9?3, ?,-:/3ND6 06 0O43, G[ S >. -9,6?3,3 :-,:30-+MH : :67? :67K326, ,-E3?64C2/:3 69<-6?64C2/:3G-<:,/.-03,V:/3/1.23@/4/030-16V0/6,/-12-H<-, >303 >6432/4/ ,:306.K/131:-/,6.?-.3,0-?-,C606.0-K6,2-.T9-03.6C10/:-3:/61/.23 =31<=3/67?6./2-.9@/9M S / T.9@/973/.0-S73.6 6\ " I,-:93, GBS - B$SH "; 13 Y613 9,6-16 "3?D6 6.?,/1:/?3/.C10/:-.@-1-K/:/3,3703-5?-:232/>30-16>6.-.2C ;,/6.G[M#S16(- [MS16/]]-/H 6

7 Gráfico 3. Yields dos Treasuries e Bunds a 10 anos (%) Gráfico 4. Evolução da taxa câmbio EUR/USD R 7 6,29<34 6 :,-.:/ !.9@/9 0- MS?3,3 S -7.6@,-2906 :67 6 :612,/@ /6, 0/137/.76 03?,6:9,3 /12-,13 G-7?3,2/:943, 06 : /1>-.2/7-126?,/>306.H :,-.:/7-126 K6/.9?6,2306?-43 T ?,-N6. 1C> P9,6?6, =6,/3 <, :610/N K/131:/37-126?6, ,-E3 4/<-/, ?31./61/.23 03?64C2/:3 6,N ?6, ?-1=6 K3>6,;> ?6,23N8-.?3, ,: ,6?-9. 7-,: ,3@34=6?,6..-<9/9 3 2,3P-2O,/ =6,/3 6:6,,/ ,/6, ?,-<6,-> /7/19/ND60-MS?3,3S03?6?943ND632/>3/1K43ND67V0/ /2969B.--7S 3?O.6,-</.260-BS F1:/ @/4/E3ND6 K/131:-/,3 3,-:9?-,3ND />/030- -:61O7/:3-6 /7?3:26?6./2/> /03.06!,-.9423, =6,/303?-,:-ND6-52-,13.6@,-3-:6167/3?6,29<9-.3T9-.-2,309E/ =6,/303.:610/N8-.0-3:-..636K/131:/ <6?,3E ,: :3?/23/. A/ , ?,6..-<9/9 3 2,3P-2O,/3 0-.: ,-</.2303 P; ,/6, -7@6,3 0- K6,73 73/. 760-, :-10616:61P #MS?3,3S:67 60/K-,-1:/34K3:-W0C>/0334-7D ,/ ,-/23,B.-0-?3,3%M?6126.@3.- K/ /1C:/60-# K6,37 : ,:306.?6, 97 4/<-/,6 343,< ?,-30.6@-,316,-K4-2/106 /1/:/ : /1:-,2-E3?64C2/:3-0-?6/. 6.-K-/ /03. 0-,-.649ND6 3?4/: E-7@, ,K/131:-/,6-3?-,./.2F1:/30-34<973/1:-,2-E3-726,1603?64C2/:3 6,N VK/:- 03. :6123.?X@4/:3. 32/1</9 S 06! -7 /1:49/ K-/26.G1D6,-:6,,-12-.H03,-:3?/234/E3ND606!31/K5:49/ K-/2660VK/:-?X@4/:62-,; 32/1</06 S 06!?-.3, 03,-:9?-,3ND6 03?,6:9,3 /12-, :61P9126 :6,, =6,/ , ,6:3 -.2/73106B.- T9-6,-.?-2/>6-5: = MS?3,3S06! 7

8 Y Y Dez Dez Dez Dez Dez Dez Gráfico 5. Portugal - Crescimento do PIB (taxas trimestral e homóloga, (%) Gráfico 6. Yields das Obrigações do Tes. Português a 2 e 10 anos (%)!U & 7,-</.269B C>-4 0-/1>-.2/ ,:306/76@/4/;,/6-7 6,29<34 G-5:49/106.-<7-126,-./0-1:/34-32/>6.?3,3?,676ND6/76@/4/;,/3H0-%7/47/4= ,6.>346,T9-09?4/:69 K3:- 3 73/6,/23,/37-12-?-43 3ND6 0- <,310-. K /1>-.2/7-126 /12-,13:/613/..-< ,-234=6 K6/ 3T9-4- T ,69 73/. 0/1^7/:6 3?, T9623.9?-,/6,3S06>6497-/1>-.2/06?,/1:/? ?-46:,-.:/ :61.976/12-, ,/.76-7E613.?,/7-:67, /, @/030-,-103.-:6,,-N8-.-7@3/53A/-40.?,32/: < :,/2O,/6..-<9106.-<7-126:6773/6,T ,:306K6,37,-</ ?-,3N /1>-.2/7-126./<1/K/:32/>3. :67 73/6, /1:/0F1:/3 13 E613 03,310- /.@ ?,6:9,37312/ F1:/30-.9@/033?3,06.7-,:306./76@/4/;,/6.-9,6? :/ /.?61/@/4/030->-,/K/:303-7?,6>6:699773/6,-T9/4C@,/61-<6:/34-12,-?,6?,/-2;,/6.-/1T9/4/16.:67,-K4-560/, :/03A/-40.3:6, T9- :61:-,1-36.-<7-126 /109.2,/ <C.2/:3 W.-7-4=31N ,/6,-. 3 ->649ND6 K3>6,;> , /109.2,/34?6,29<9F ,303?-46. /10/:306,-. -:61O7/:6.,-?, /> , 1D6?,609E/9 3/103 -K-/26.?6./2/>6../<1/K/:32/> <7-126 /76@/4/;,/6:673,-:9?-,3ND603.A/-40.33?,-.-123,97,/2763/ ,:306,-./0-1:/ V F1:/3 0-,-:9?-,3ND6-7.9@/ C>-4 0- :61K/31N3 03. K37C4/ ?,-< :/03 06 : K/131:/ ?,6:9,3?6,?3, ,31<-/,6.1D6,-./ D66.K326,-. T9--7:61P9126:612,/@9C,37?3,33, < , ,:306 /76@/4/;,/6 3?, >649ND6?6./2/>3 0->/ :/ W,-:9?-,3ND6 -:61O7/:3-36 /1>-.2/ ,16?-,.?-2/>3106B.-?3,3 #97373/6,-.23@/4/E3ND603.A/ :/303W:612/19/ /1^7/:3>/>/03-7 8

9 6:/ , /2943,/E3ND6 0-,V0/26. V 973 6:/-030- /131:-/,3 :61.2/29C03-7 M 0-73,N6 0- T9-2-7?6, 6@P-26-5:49./> /1/.2,3ND6?6,: , / /2943,/E3ND / /2943,/E3ND60-,V0/ /.@6313>ZU4>3,-.3@,341L :3?/234.6:/34 /12-<, ,-34/E ,6.G09E-126.-:/1T9-1237/4-9,6.H,-?, ?6, G:/1T9-1237/4H3N8-.6,0/1;,/3.:676>346,167/ ,6.G:/1:6-9,6.H:303 K6/ :61.2/29C03?-46. 3:/61/.23. 3@3/56 /10/: T9-3. 3N8-.,-?, /> :3?/234.6:/34 -,37 0-2/03. 32V ++? <9/ Q!3,:43A.!31] % S!3,/@3.3?/2341> /7/2-0 % S R6,?6, > !31] % S,-0/29/..-/,.2!6.261G_H1> /1<. % S B.?C,/ />6./131:-/,6. M#S -,,/44A1:=12-,132/6134 % S 6,< A12-,132/61341:6,?6,32-0 % S E-7@, ,/. 1>-.2/ T9/,/9 M S 06 :3?/ ,31.7/2/1063/ F /030-03?3,2/:/?3ND6W-34/03-<9,6. 3?, :/ K/ <9/12--.2,929,33:/61/.23Q -34/03-<9,6. M S!R-.2D60-2/>6. M#S 3,3-K-/26.063,2L %L06O0/<603.6:/ ,:/3/.3/1K6,73ND6,-432/>3W,-43ND6 0-3:/61/.23.-1:612,3B.-0/.?61C> ,-432O,/ =60-07/1/.2,3ND6 9, K6/ 7312/ />/ <-.2D /2943,/E3ND6 0-,V0/26.1D /06431N306.16> /2943,/E3ND E-7@,60-3 2/1=3.6@<-.2D66..-<9/ /2943,/E3ND6Q /2943,/E3ND69./23166,2<3<-.1L` /2943,/E3ND69./23166,2<3<-.1L` /2943,/E3ND69./23166,2<3<-.1L ` /2943,/E3ND69./23166,2<3<-.1L` 9

10 91060-/2943,/E3ND6` /2943,/E3ND69./23166,2<3<-.1L#` /2943,/E3ND6,6P-:2/131:-1L /2943,/E3ND69./23166,2<3<-.1L$` /2943,/E3ND6!6:3<-6,2<3<-.1L` M -9, E-7@,6 0-6., :/ /1</, % $$ -9,6..?,/1:C?/6.-?,;2/:3. 0-6>-,13ND6/7? ?-43 6:/-030-2F7?6, 6@P-2/>6 973 <6>-,13ND6,-.?61.;>-4-6,/-12303?3,33:,/3ND60->346, :61./0-, :/ />/ <-.2D /2943,/E3ND6 3 92/4/E3ND6 0-?,/1:C?/6. 0- :612, T K/:3E-. T9-?-,7/ <9,3, 6 :97?,/ @,/<3N >-,-. 4-<3/. 3 T9-.- : /7/E3ND , ?-43 <-.2D6 -K/:/ ,-:9, ?,- -7 :61./0-,3ND630-K-.306./12-, ?3,2/:/? :/61/.23..2,929,3.2,929,30-0-6>-,13 6>-,13ND6 ND E-7@,60-3 3?,-.-123>33.-<9/12--.2,929,30-6>-,13ND6Q Assembleia Geral Conselho de Administração Orgão de Fiscalização - Fiscal Único 67?-2F1:/3. 67?-2F1:/3...-7@4-/3-,34..-7@4-/3 -,34 0- :/61/.23.,-X1-1973?-,/60/:/ C1/ :676?,/1:/?3/.:67?-2F1:/3.3134/.3,-3?,6>3,6-432O,/60--.2D =60-07/1/.2,3ND6 1 Liquidado a 18/01/

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12 órgão, a atividade e desempenho da Sociedade e as boas práticas do mercado, atualizar os honorários anuais pagos à Ernst & Young Audit & Associados SROC, S.A, ao abrigo do contrato de prestação de serviços celebrado entre a Sociedade e esta entidade, nos termos que a seguir se indicam: (i) (ii) 7 300,00 (sete mil e trezentos euros) pela certificação legal das contas; 1 400,00 (mil e quatrocentos euros) pelo relatório reportado a Junho de 2015 sobre o sistema de prevenção do branqueamento de capitais e financiamento do terrorismo; (iii) 3 800,00 (três mil e oitocentos euros) pelo relatório sobre o sistema de controlo interno; (iv) (v) nestes montantes não está incluída a necessidade de execução de serviços adicionais; todos os valores a faturar estão sujeitos a IVA à taxa em vigor à data da fatura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