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:
(i) the Inside Information of 29 October 2021, with
registration number 1127 (the Initial II), reporting that the Board of Directors of BBVA had agreed to carry out a program scheme for the repurchase of shares, to be executed in several tranches, for a maximum amount of up to
3,500 million euros, for the purpose of reducing BBVAs share capital (the Program Scheme)1; and
(ii) the Inside Information of 3 February 2022, with registration number 1277, reporting that the Board of Directors of BBVA had agreed, within the scope of the
Program Scheme in force, to carry out a second share repurchase program for a maximum amount of up to 2,000 million euros (the Second Program Agreement);
BBVA hereby gives notice that it has agreed to carry out the Second Program Agreement, to be executed:
(i) by implementing a first segment through an external lead-manager for an amount of up to 1,000 million euros (the First Segment), all 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
(ii) upon full execution of the First Segment, by implementing a second segment that completes the Program Scheme, for a
maximum amount of 1,000 million euros or for a maximum number of shares to be determined based on the number of own shares finally acquired in execution of the First Segment.
All of the above, notwithstanding the possibility to suspend or early terminate the Program Scheme upon the occurrence of circumstances that make it advisable, as set
forth in the Initial II.
In accordance with the authorization granted by the European Central Bank, the Program Scheme is additionally limited to
the repurchase of shares representing up to 10% of BBVAs share capital, and may be implemented within a maximum period of one year from the publication of the Initial II.