S&P's Upgrades BBVA's ratings

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

OTHER RELEVANT INFORMATION

Today December 16th, 2021, S&P Global Ratings (S&P) has upgraded by one notch BBVA's long-term issuer credit rating (ICR) to A from A- and short-term ICR to A-1 from A-2. The outlook has changed to negative from stable, mirroring now the negative outlook of Spain's Sovereign S&P's current rating.

S&P has also taken the following actions over other BBVA's ratings:

● Upgraded by one notch long-term senior unsecured instruments issue rating to A from A-.

● Upgraded by one notch short-term senior unsecured instruments issue rating to A-1 from A-2.

● Upgraded by one notch long-term resolution counterparty rating (RCR) to A+ from A.

● Affirmed short-term RCR at A-1.

● Affirmed debt ratings on hybrid instruments.

Madrid, December 16th 2021