RNS Number : 6140Q

Banco Bilbao Vizcaya Argentaria SA

29 June 2022

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


Further to the notice of Inside Information of 28 June 2022, with CNMV registration number 1511 (the "Second Segment Execution II") ([1]) , BBVA hereby notifies the execution of the Second Segment which completes the Program Scheme pursuant to Regulation (EU) No. 596/2014 of the European Parliament and of the Council, of 16 April 2014, on market abuse ("MAR") and Commission Delegated Regulation (EU) No. 2016/1052, of 8 March 2016, (the "Delegated Regulation" and, together with MAR, the "Regulations") under the terms and conditions detailed below:

Purpose:                 To reduce BBVA's share capital by means 
                          of the redemption of the acquired shares. 
  Maximum cash amount:     The maximum cash amount will be 1,000 million 
  Maximum number of        The maximum number of BBVA shares to be 
  shares:                  acquired will be 149,996,808. 
Start of the execution:  Execution will start on 1 July 2022. 
End of the execution:    The Second Segment will end no later than 
                          29 September 2022 and, in any event, when 
                          the maximum cash amount is reached or the 
                          maximum number of shares is acquired. 
                          However, the Company reserves the right 
                          to temporarily suspend or to early terminate 
                          the execution of the Second Segment in the 
                          event of any circumstance that so advises 
                          or requires. 
Trading venue:           The acquisitions will be made on the Spanish 
                          Electronic Trading Interconnection System 
                          - Continuous Market (the "Continuous Market"). 
Manager:                 The execution will be carried out externally 
                          through CITIGROUP GLOBAL MARKETS EUROPE 
                          AG (the "Manager"), who will make its decisions 
                          concerning the timing of the purchases of 
                          the BBVA shares independently of the Company. 
Conditions of the        The Second Segment will be executed pursuant 
 Second Segment:          to the following conditions: 
                          (i) by purchasing in each trading session 
                          on the Continuous Market (other than a Discontinued 
                          Day) 4 ,250,000 shares (the "Daily Target 
                          Number of Shares"), except in cases of force 
                          majeure or if the Manager is unable to purchase 
                          such number of shares due to limitations 
                          derived from the provisions of article 3.2 
                          of the Delegated Regulation. 
                          For these purposes, a Discontinued Day is 
                          understood to be any trading session of 
                          the Continuous Market in which there is 
                          a significant disruption in the market or 
                          in the quotation of the BBVA shares (including 
                          if their trading price falls below their 
                          nominal value during a substantial part 
                          of the session) or if the trading volume 
                          for the BBVA share is less than 2.5 times 
                          the Daily Target Number of Shares. 
                          (ii) The own shares will be purchased respecting 
                          in all cases the conditions and the price 
                          and volume limits set forth in the Regulations. 
                          In particular, it is hereby stated that 
                          the Daily Target Number of Shares is less 
                          than 25% of the average daily volume of 
                          the BBVA shares in the Spanish Electronic 
                          Trading Interconnection System - Continuous 
                          Market in the month preceding this communication 
                          (thus complying with the provisions of article 
                          3.3.a) of the Delegated Regulation). 

The share purchase transactions carried out, as well as the completion or, as the case may be, the interruption of the execution of the Second Segment, will be duly reported to the Spanish National Securities Market Commission in accordance with the Regulations.

Madrid, 29 June 2022

([1]) The terms Second Segment and Program Scheme will have the same meaning as provided in the Second Segment Execution II.

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June 29, 2022 03:13 ET (07:13 GMT)

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