Bankia : DBRS Ratings Limited revises Bankia’s rating.

Inscrita en el Registro Mercantil de Valencia, Tomo 9.341, Libro 6.623, Folio 104, Hoja: V-17.274. CIF: A-14010342

RELEVANT EVENT

Pursuant to article 227 of the consolidated text of the Securities Market Act, approved by Legislative Royal Decree 4/2015 of 23 October 2015, it is hereby notified that the rating agency DBRS Ratings Limited has affirmed Bankia's Long-Term Issuer Rating rating at "BBB (high)", changing the outlook to Positive from Stable. The Short-Term Issuer Rating is affirmed at "R-1 (low)" with a Stable outlook.

Additionally, the ratings have been revised as follows:

• Long-TermIssuer Rating at "BBB (high)", outlook revised to Positive from Stable.
• Long-TermSenior Debt at "BBB (high)", outlook revised to Positive from Stable.
• Long-TermDeposits at "BBB (high)", outlook revised to Positive from Stable.
• Long-TermCritical Obligations Rating at "A", outlook revised to Positive from Stable.
• Senior Non-Preferred at "BBB", outlook revised to Positive from Stable.
• Subordinated Debt "BBB (low)", outlook revised to Positive from Stable.
• Additional Tier 1 Instruments "BB (low)", outlook revised to Positive from Stable.
• Short-TermCritical Obligations Rating at "R-1 (low)", outlook revised to Positive from Stable.
• Short-TermIssuer Rating at "R-1 (low)", outlook Stable.
• Short-TermDebt at "R-1 (low)", outlook Stable.
• Short-TermDeposits at "R-1 (low)", outlook Stable.

The above is notified as a relevant event for all pertinent purposes.

Madrid, 3rd July 2019

BANKIA, S.A.

This document is a translation of an original text in Spanish. In case of any discrepancy between the English and the Spanish version, the Spanish version will prevail.

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