Banco Bilbao Vizcaya Argentaria S A : BBVA has completed the sale of BBVA Paraguay

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

INSIDE INFORMATION

Further to the Relevant Event published on August 7, 2019, with registration number at the Spanish CNMV 281163, BBVA informs that, as of today, after obtaining all required authorizations, BBVA has completed the sale to Banco GNB Paraguay, S.A., an affiliate of Grupo Gilinski, of its direct and indirect shareholding stake of 100% share capital in Banco Bilbao Vizcaya Argentaria Paraguay, S.A. ("BBVA Paraguay").

The consideration received by BBVA, as a consequence of the referred sale, amounts to approximately 250 million USD. The transaction results in a capital loss of approximately 9 million euros1 net of taxes and in a positive impact on BBVA Group's Common Equity Tier 1 (fully loaded) of approximately 6 basis points2. These impacts will be recorded in BBVA Group´s first quarter financial statements for FY 2021.

Madrid, January 22, 2021

1. EUR/USD exchange rate for the impact on the financial results of 1.185.
2. The determination of the impact on Common Equity Tier 1 was made taking into consideration the group's financial statements as of september 2020 and a EUR/Guaraní exchange rate of 8,442.534.