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ANNEX I

DUE DILIGENCE OBLIGATIONS FOR IDENTIFYING AND REPORTING ON U.S. REPORTABLE

ACCOUNTS AND ON PAYMENTS TO CERTAIN NONPARTICIPATING FINANCIAL INSTITUTIONS

I. General

A. Portugal shall require that Reporting Portuguese Financial Institutions apply the due diligence procedures

contained in this Annex I to identify U.S. Reportable Accounts and accounts held by Nonparticipating Financial

Institutions.

B. For purposes of the Agreement,

1. All dollar amounts shall be read to include the equivalent in other currencies.

2. Except as otherwise provided herein, the balance or value of an account shall be determined as of the last day

of the calendar year or other appropriate reporting period.

3. Where a balance or value threshold is to be determined as of June 30, 2014 under this Annex I, the relevant

balance or value shall be determined as of that day or the last day of the reporting period ending immediately

before June 30, 2014, and where a balance or value threshold is to be determined as of the last day of a calendar

year under this Annex I, the relevant balance or value shall be determined as of the last day of the reporting

period that ends with or within that calendar year.

4. Subject to subparagraph E(1) of section II of this Annex I, an account shall be treated as a U.S. Reportable

Account beginning as of the date it is identified as such pursuant to the due diligence procedures in this Annex I.

5. Unless otherwise provided, information with respect to a U.S. Reportable Account shall be reported annually in

the calendar year following the year to which the information relates.

C. As an alternative to the procedures described in each section of this Annex I, Portugal may permit Reporting

Portuguese Financial Institutions to rely on the procedures described in relevant U.S. Treasury Regulations to

establish whether an account is a U.S. Reportable Account or an account held by a Nonparticipating Financial

Institution. Portugal may permit Reporting Portuguese Financial Institutions to make such election separately for

each section of this Annex I either with respect to all relevant Financial Accounts or, separately, with respect to

any clearly identified group of such accounts (such as by line of business or the location of where the account is

maintained).

II. Preexisting Individual Accounts.The following rules and procedures apply for

purposes of identifying U.S. Reportable Accounts among Preexisting Accounts held

by individuals (“Preexisting Individual Accounts”).

A. Accounts Not Required to Be Reviewed, Identified, or Reported.Unless the Reporting Portuguese

Financial Institution elects otherwise, either with respect to all Preexisting Individual Accounts or, separately, with

respect to any clearly identified group of such accounts, where the implementing rules in Portugal provide for

such an election, the following Preexisting Individual Accounts are not required to be reviewed, identified, or

reported as U.S. Reportable Accounts:

1. Subject to subparagraph E(2) of this section, a Preexisting Individual Account with a balance or value that does

not exceed $50,000 as of June 30, 2014.

2. Subject to subparagraph E(2) of this section, a Preexisting Individual Account that is a Cash Value Insurance

Contract or an Annuity Contract with a balance or value of $250,000 or less as of June 30, 2014.

3. A Preexisting Individual Account that is a Cash Value Insurance Contract or an Annuity Contract, provided the

law or regulations of Portugal or the United States effectively prevent the sale of such a Cash Value Insurance

Contract or an Annuity Contract to U.S. residents (e.g., if the relevant Financial Institution does not have the

required registration under U.S. law, and the law of Portugal requires reporting or withholding with respect to