Liberbank : Convocatoria de Junta General Extraordinaria

A los efectos previstos en el artículo 228 del Real Decreto Legislativo 4/2015, de 23 de octubre, por el que se aprueba el texto refundido de la Ley del Mercado de Valores, Liberbank, S.A. ("Liberbank" o la "Sociedad") comunica el siguiente

En relación con la Junta General Extraordinaria de Accionistas de Liberbank cuya convocatoria ha sido acordada por el Consejo de Administración de la Sociedad en su reunión de 6 de septiembre de 2017, se procede a comunicar la siguiente información relevante que se adjunta como parte de esta comunicación:

• Texto de la convocatoria de la Junta General Extraordinaria de Accionistas.

• Texto de las propuestas de acuerdo que el Consejo de Administración propone para su aprobación a la Junta General Extraordinaria de Accionistas.

Respecto a los acuerdos sometidos a la Junta General Extraordinaria de Accionistas, se informa que el aumento de capital propuesto por un importe efectivo (nominal + prima) de 500 millones de euros se destinará a elevar la cobertura de los activos improductivos o NPAs (préstamos dudosos y adjudicados) a niveles en el entorno del 50%, lo que permitirá acelerar la reducción de NPAs respecto al plan que el Grupo Liberbank tenía previsto, y con un nivel de capital proforma a junio de 2017 del 11.6% fully loaded. El objetivo es que a final de 2019 los ratios de NPAs1 y Texas2 se sitúen en torno al 9% y al 60%, respectivamente. En relación con lo anterior, Liberbank considera que la posible minusvalía que, en su caso, podría producirse al acelerarse la reducción de NPA se vería compensada por el aumento de las coberturas.

El aumento de capital forma parte a su vez de un plan de capital que incluye, entre otras medidas, la venta del Servicer Inmobiliario "Mihabitans" anunciada en agosto de 2017 y la venta de carteras de NPAs en mercado mayorista. En este sentido, la Sociedad tiene intención de vender durante el segundo semestre de este ejercicio, sujeto a las condiciones de mercado, activos improductivos o NPAs por un importe superior a 800 millones de euros.

Se informa asimismo que, Oceanwood Capital Management LLP, Aivilo Spain, S.L. y Corporación Masaveu, S.A., titulares del 12,6%3, 7,4% y 5,0% del capital social, respectivamente, han manifestado su intención de acudir al aumento de capital ejercitando la

1 Definido como el cociente entre préstamos dudosos y adjudicados entre cartera crediticia bruta más adjudicados. 2 Definido como el cociente entre la suma de préstamos dudosos y adjudicados brutos entre el patrimonio neto más las provisiones de dudosos y adjudicados.

3 Incluyendo instrumentos financieros.

totalidad de los derechos de suscripción preferente que le correspondan en al aumento de capital. A su vez la Fundación Bancaria Caja de Ahorros de Asturias, la Fundación Bancaria Caja de Ahorros y Monte de Piedad de Extremadura y la Fundación Bancaria Caja de Ahorros de Santander y Cantabria titulares conjuntamente del 43,8% del capital social, han manifestado igualmente la intención de acudir al aumento de capital mediante la realización de una operación de venta de acciones o derechos y ejercicio de los derechos de suscripción preferente, de tal manera que resulte económicamente neutra para las Fundaciones.

Por otro lado, Liberbank ha suscrito un contrato de pre-aseguramiento, sujeto a determinadas condiciones suspensivas habituales de este tipo de contratos, con Deutsche Bank AG, London Branch, como Sole Global Coordinator y Joint-Bookrunner, y Citigroup Global Markets Limited, como Co-Global Coordinator y Joint-Bookrunner, en virtud del cual, en el momento de la fijación de los términos de la transacción, se comprometerían a asegurar el importe total de la emisión que no haya sido comprometido por los accionistas referidos anteriormente.

Madrid, 6 de septiembre de 2017

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This press release and the offering of securities described herein are only addressed to and directed at persons in member states of the European Economic Area who are "qualified investors" within the meaning of the Prospectus Directive (Directive 2003/71/EC, as amended) ("Qualified Investors"). In addition, in the United Kingdom, this press release is only being distributed and is only directed only at (i) investment professionals falling within the meaning of Article 19(5) of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2001 (the "Order'") and (ii) high net worth entities and other persons falling within Article 49(2)(a) to (d) of the Order or (iii) other persons to whom it may otherwise lawfully be communicated (all such persons together being referred to as "relevant persons'"). Any investment activity to which this press release relates will only be available to and will only be engaged with, (i) in the United Kingdom, relevant persons, and (ii) in any member state of the European Economic Area other than the United Kingdom, Qualified Investors. Any person who is not a relevant person or a Qualified Investor should not act or rely on this document or any of its contents. The Offering will not be made to the public in any jurisdiction other than the Kingdom of Spain.

This press release does not constitute a prospectus for the purposes of Directive 2003/71/EC and does not contain or constitute or form part of, and should not be construed as, any offer or invitation, or any solicitation of an offer, for securities and should not be relied on in connection with any contract or commitment whatsoever. The proposed Offering and the distribution of this press release and other information in connection with the proposed Offering in certain jurisdictions may be restricted by law and persons into whose possession any document or other information referred to herein comes should inform themselves about and observe any such restrictions. Any failure to comply with these restrictions may constitute a violation of the securities laws of any such jurisdiction.

Some of the information in this press release may contain projections or other forward- looking statements regarding future events or the future financial performance of Liberbank. You can identify forward-looking statements by terms such as 'expect', 'believe', 'anticipate', 'estimate', 'intend', 'will', 'could', 'may' or 'might' or other similar expressions. Liberbank wishes to caution you that such forward-looking statements are based on a number of assumptions regarding Liberbank's present and future business strategies and the environment in which Liberbank expects to operate in the future and involve known and unknown risks, uncertainties and other important factors that could cause circumstances or our actual results, performance or achievements to be materially different from any future circumstances, results, performance or achievements expressed or implied by such statements. Liberbank does not intend to, and is not required to, update these statements to reflect events and circumstances occurring after the date hereof or to reflect the occurrence of unanticipated events. Many factors could cause the actual results to differ materially from those contained in projections or forward-looking statements of Liberbank, including, among other things, risks specifically related to Liberbank and its operations, the development of global economic and industry conditions, and the impact of economic, political and social developments in Spain.

Not for publication, distribution or release, directly or indirectly, in or into the United States, Australia, Canada, Japan or any other jurisdiction where such publication, distribution or release would be unlawful.

This document does not constitute an offer or invitation to purchase or subscribe shares, in accordance with the provisions of the Spanish Securities Market Law (Law 24/1988, of July 28, as amended and restated from time to time), Royal Decree-Law 5/2005, of March 11, and/or Royal Decree 1310/2005, of November 4, and its implementing regulations.