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

INSIDE INFORMATION

Pursuant to the terms and conditions of the issuance of preferred securities contingently convertible into ordinary shares of BBVA, carried out by BBVA on 29 March 2019 for a total amount of EUR 1,000 million, with ISIN code ES0813211010 (the "Issuance"), and once the prior consent from the Regulator has been obtained, BBVA hereby announces its irrevocable decision to early redeem the Issuance on 29 March 2024 (i.e., the First Reset Date).

The Redemption Price per Preferred Security shall be EUR 203,000, which is equal to the Liquidation Preference plus any unpaid Distributions accrued until (but excluding) 29 March 2024, and shall be paid on 2 April 2024 to Holders in accordance with the terms and conditions of the Issuance.

Madrid, 15 February 2024