MATERIAL DISCLOSURE

Pursuant to article 228 of the consolidated text of the Securities Market Act, approved by Legislative Royal Decree 4/2015 of 23 October 2015, it is hereby reported that the rating agency Fitch Ratings, has today affirmed Bankia's covered bond rating at "A", improving the outlook from Stable to Positive.

The above is notified as a material disclosure for all pertinent purposes.

InscritaenelRegistroMercantildeValencia,Tomo9.341,Libro6.623,Folio104,Hoja:V-17.274.CIF:A-14010342

Madrid, 12th February 2018

BANKIA, S.A.

This document is a translation of an original text in Spanish. In case of any discrepancy between the English and the Spanish version, the Spanish version will prevail.

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Original documenthttp://www.bankia.com/recursos/doc/corporativo/20180108/ingles/20180212-hr-bkia-rating-fitch-cedulas-eng.pdf

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