TIDMBVA

RNS Number : 0276T

Banco Bilbao Vizcaya Argentaria SA

19 November 2021

Banco Bilbao Vizcaya Argentaria, S.A. ("BBVA" or the "Company"), in compliance with the Spanish Securities Market legislation, hereby proceeds to notify the following:

INSIDE INFORMATION

Further to the notice of Inside Information of 29 October 2021, with registration number 1127 (the "Initial II") ([1]) , BBVA hereby gives notice of the execution of the First Tranche, which will be carried out within the scope of the Program Scheme of up to 3,500 million euros ([2]) , and in accordance with Regulation (EU) No. 596/2014 of the European Parliament and of the Council of 16 April 2014 on market abuse and Commission Delegated Regulation (EU) No. 2016/1052, of 8 March 2016, (the "Regulations"), under the terms and conditions detailed below:

 
 Purpose:               To reduce BBVA's share capital by means 
                         of the redemption of the shares acquired 
                         in executing the First Tranche. 
 Maximum cash amount:   The maximum cash amount of the First 
                         Tranche will be 1,500 million euros. 
 Maximum number of      The maximum number of BBVA shares to 
  shares:                be acquired in executing the First Tranche 
                         will not exceed 637,770,016, representing, 
                         approximately, 9.6% of BBVA's share capital 
                         as of the date of this notice. 
 Start of the First     The First Tranche will start on 22 November 
  Tranche:               2021. 
 End of the First       The First Tranche will end neither before 
  Tranche:               16 February 2022 nor later than 5 April 
                         2022 and, in any event, when within such 
                         period the maximum cash amount is reached 
                         or the maximum number of shares is acquired. 
                         However, the Company reserves the right 
                         to temporarily suspend the First Tranche 
                         or to early terminate it in the event 
                         of any circumstance that so advises or 
                         requires. 
 Trading venues:        The acquisitions under the First Tranche 
                         will be made on the Spanish Electronic 
                         Trading Interconnection System - Continuous 
                         Market, as well as on DXE Europe, Turquoise 
                         Europe and Aquis Exchange. 
 Manager:               The First Tranche will be executed externally 
                         through J.P. Morgan AG, who will make 
                         its decisions concerning the timing of 
                         the purchases of the BBVA shares independently 
                         of the Company. 
 Other conditions:      The own shares will be purchased observing 
                         in all cases the conditions and the limits 
                         established in the Regulations. In particular, 
                         shares purchased on any trading day may 
                         not exceed 25% of the average daily volume 
                         of the shares on the trading venue on 
                         which the purchase is made, and the average 
                         daily volume of each trading venue will 
                         be that corresponding to the twenty trading 
                         days prior to the date of each purchase. 
 

The share purchases made, as well as the interruption or termination of the First Tranche, will be duly reported to the Spanish National Securities Market Commission and the appropriate authorities in accordance with the Regulations.

Madrid, 19 November 2021

([1]) The terms First Tranche and Program Scheme will have the same meaning as established in the Initial II.

([2]) In accordance with the authorization granted by the European Central Bank, the Program Scheme has a maximum amount of 3,500 million euros, and shares may be repurchased up to 10% of BBVA's share capital, during a maximum term of one year from the publication of the Initial II.

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November 19, 2021 11:51 ET (16:51 GMT)

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