Dividend Option

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

RELEVANT EVENT 

Further to the relevant events dated 18th and 30th September, 2015, and 19th October, 2015, BBVA hereby communicates that, on 29th October, 2015, the Spanish National Securities Market Commission has authorized the admission to listing of the new shares of the free-of-charge capital increase resolved by the Ordinary General Meeting of BBVA shareholders held on 13th March, 2015, under agenda item four, section 4.2, and executed by the Board of Directors in its 30th September, 2015 meeting, corresponding to the shareholder remuneration system called "Dividend Option", being the new shares allocated to shareholders.

The authorization for the admission to listing of the new shares in the Spanish Stock Exchanges, through the Spanish SIBE electronic trading platform (Sistema de Interconexión Bursátil Español), is expected to be granted as of today, 30th October, 2015, so that ordinary trading of such shares in the Spanish Stock Exchanges will commence on 2nd November, 2015.

Madrid, 30th October, 2015