Bankia S A : to Hold General Meeting of Shareholders Remotely

• This decision is made in the corporate interest and for the protection of shareholders, customers, employees and investors in general
• The bank has implemented the necessary measures to facilitate remote exercise of the voting rights of shareholders to the utmost
• The members of the Board of Directors may take part in the General Meeting by audioconference or videoconference

The Board of Directors of Bankia has resolved to hold the Ordinary General Meeting of Shareholders scheduled for 27 March remotely in the Bank's registered office in Valencia (C/ Pintor Sorolla, 8) in order to comply with the emergency recommendations of the authorities.

The necessary measures have thus been implemented to facilitate to the utmost the remote exercise by shareholders of their rights. The bank is thus adapting to the exceptional situation.

The General Meeting will be held remotely in the corporate interest and to protect shareholders, customers, employees and investors in general, per the supplementary announcement of the call of General Meeting submitted to day to the Spanish Securities Markets Commission (Comisión Nacional del Mercado de Valores).

The members of the Board of Directors may take part in the General Meeting by audioconference or videoconference. To adopt these decisions, Bankia has analysed the evolution of the risk to public health posed by the coronavirus outbreak and the Royal Decree on extraordinary urgent measures to curb the economic and social impact of Covid-19.

Shareholders entitled to attend the General Meeting make participate there online via the electronic service on the corporate website (www.bankia.com), identifying themselves by the stipulated means.

The measures to facilitate shareholder participation include extending the time limit for entering their vote remotely. In addition, they may submit any written requests for information physically or electronically, in the latter case through the Right to Information Electronic Service set up on the corporate website.

Questions submitted by shareholders that are received before the start of the General Meeting will be answered during the meeting or in writing by the Board of Directors within seven days following the meeting date.

Agenda

The General Meeting agenda remains unchanged with respect to the call issued this past 26 February and includes the approval of Bankia's 2019 accounts, the management report and a dividend distribution of 355 million euros against 2019 earnings on 15 April 2020, with a payout of 0.11576 euros gross per share, the same amount as the previous year.

This dividend marks a new advance in Bankia's return of the public aid received. At present, the Fund for Orderly Bank Restructuring (FROB) has a direct and indirect shareholding, via BFA, of 61.8% in Bankia.

Assuming that this shareholding remains unchanged at the dividend payout date, BFA will receive 220 million euros, bringing the total amount repaid to taxpayers to 3,303 million euros. Some 2,122 million euros of this amount comes from the proceeds of the two sales of equity carried out in February 2014 and December 2017, and the remaining 1,181 million euros from the six dividends distributed by the bank since July 2015.

The General Meeting of Shareholders will also vote on the appointment of Nuria Oliver as new independent director in Bankia for the next four years. After her appointment, the Bankia Board of Directors will be composed of 13 directors, three of whom are executive directors, nine independent directors and one in the other non-executive director category.

The shareholders must also ratify or not the reelection of José Sevilla, the bank's chief executive officer, as executive director for a term of four years. The General Meeting agenda also includes votes on the reelection as independent directors for four years of Joaquín Ayuso, Francisco Javier Fields, Eva Castillo and Antonio Greño.

The General Meeting will also decide on the appointment of KPMG as Bankia's statutory auditor for 2020, 2021 and 2022, at the proposal of the Audit and Compliance Committee.