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The Cenyt Case

Current situation – Cenyt case

We reiterate our firm commitment to clarifying the facts and cooperating with the authorities.

BBVA has been providing information related to this case since its inception and it has proactively shared the information obtained from the forensic investigation, carried out by Garrigues, Uría Menéndez y PwC.

In November, BBVA testified at the Spanish National High Court, responding in detail to all the questions posed. The bank pleaded that BBVA bears no responsibility for the facts under investigation.

The proceedings remain under secrecy order, which limits the information the bank can publicly disclose on this case, given the requirement of not interfering with the judicial investigation.

In this preliminary phase of the proceedings, being declared as an investigated party does not imply that a formal accusation for any crime has been made.

As of today, BBVA has not identified any relevant or direct impact on its business, its investors or stock performance due to this situation. Additionally, the bank’s reputation has remained stable in 2019 compared to the previous year.

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NOVEMBER 20, 2019

BBVA testifies at the Spanish National High Court, and responds to all questions

Adolfo Fraguas, the bank’s representative in this process and head of Legal Services at BBVA Spain, responded to all the questions posed by the judge and the prosecution, and pleaded that the bank bears no responsibility for the facts under investigation.

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OCTOBER 31, 2019

“Our reputation has remained stable”

During 3Q19 earnings presentation, BBVA CEO Onur Genç said that reputation is not something easy to measure as it is an intangible asset. However, based on the RepTrak methodology the financial sector uses, “our reputation has remained stable” in 2019 compared to the previous year, he said.

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JULY 31, 2019

“As of today, this situation has had no direct impact on our business”

“During BBVA 2Q19 earnings presentation, BBVA CEO Onur Genç says that “as of today, this situation has had no direct impact on our business, investors or the stock performance.”

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JULY 29, 2019

“Our priority is to clarify the facts and cooperate with the authorities”

“The judge declares BBVA under investigation. BBVA chairman Carlos Torres Vila reiterates that the bank’s priority is to clarify the facts and cooperate with the authorities.

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