

| BANCO ESPIRITO SANTO SA | 31/03/2011 AGM | |
|---|---|---|
| 1 | Elect directors | Oppose |
| 2 | Approve the Management Report, the Corporate Governance Report and the remaining individual reporting documents | Oppose |
| 3 | Consolidated Management Report, the consolidated accounts and the remaining consolidated reporting documents | Oppose |
| 4 | Approve the dividend | For |
| 5 | Discharge the Board | For |
| 6 | Approve the Remuneration Policy | Abstain |
| 7 | Authorise Share and Bond Repurchase | For |
| 8 | Amend Articles | For |
| 9 | Amend Articles | For |
| 10 | Authorisation to exercise competing activities | For |