Banco BBVA Perú announced that it has commenced a tender offer for cash (the Tender Offer) for any and all of its outstanding 5.250% Subordinated Notes due 2029 (CUSIP Nos. 05537GAD7 and P16236AG9) (the Notes). The Tender Offer is being made on the terms and subject to the conditions set forth in the Offer to Purchase, dated March 4, 2024 (the Offer to Purchase) and the related Notice of Guaranteed Delivery (collectively, the "Offer Documents").

5.250% Subordinated Notes due 2029: Aggregate Principal Amount Outstanding as of March 4, 2024: USD 300,000,000; Consideration: USD 1,000. As set forth in the table above, subject to the terms and conditions of the Tender Offer, holders of the Notes (each, a "Holder") must validly tender and not validly withdraw their Notes at or before 5:00 p.m., New York City time, on March 8, 2024, unless such date and time are extended or the Tender Offer is earlier terminated by BBVA in its sole discretion, subject to applicable law (such time and date, as may be extended or earlier terminated, the "Expiration Time") to receive $1,000 for each $1,000 in principal amount of Notes (the "Consideration"). Holders who wish to be eligible to receive the Consideration must (1) validly tender and not validly withdraw their Notes at any time at or prior to the Expiration Time or (2) deliver a properly completed and duly executed Notice of Guaranteed Delivery and other required documents pursuant to the guaranteed delivery procedures described in the Offer to Purchase on or prior to the Expiration Date, and deliver their Notes on or prior to 5:00 p.m., New York City time, on March 12, 2024, unless extended (the "Guaranteed Delivery Date").

Tendered Notes may be withdrawn at any time at or prior to the earlier of (i) the Expiration Time, (ii) if the Tender Offer is extended, the 10th business day after commencement of the Tender Offer and (iii) at any time after the 60th business day after commencement of the Tender Offer if for any reason the Tender Offer has not been consummated within 60 business days after commencement. BBVA anticipates that it will accept for purchase all Notes validly tendered and not validly withdrawn at or before the Expiration Time and pay for such accepted Notes promptly following the Expiration Time and the Guaranteed Delivery Date (the "Settlement Date"). The Settlement Date is expected to occur on March 13, 2024, unless the Tender Offer is extended or earlier terminated by BBVA in its sole discretion, subject to applicable law and all conditions to the Tender Offer having been either satisfied or waived by BBVA as of the Settlement Date.

In addition to the Consideration, holders of Notes accepted for payment will receive accrued and unpaid interest, including any applicable additional amounts, from the last interest payment date for the Notes to, but not including, the Settlement Date. BBVA reserves the right to amend, terminate or withdraw the Tender Offer for the Notes, subject to disclosure and other requirements as and as required by applicable law. In the event of a termination or withdrawal of the Tender Offer, Notes tendered and not accepted for purchase pursuant to the Tender Offer will be promptly returned to the tendering holders.

Concurrently with the Tender Offer, BBVA is offering (the "Bond Offering") subordinated notes (the "New Notes") in a transaction that is exempt from the registration requirements of the U.S. Securities Act of 1933, as amended (the "Securities Act"). Following payment for the Notes accepted pursuant to the terms of the Tender Offer, BBVA may, but is not obligated to, redeem all or a portion of the Notes that remain outstanding in accordance with the terms of the indenture governing the Notes. The Tender Offer does not constitute a notice of redemption or an obligation to issue a notice of redemption.

The Tender Offer is not an offer to sell the Notes, the New Notes or any other securities or a solicitation of an offer to buy the Notes, the New Notes or any other securities. The Tender Offer is conditioned upon the satisfaction or waiver by BBVA of certain conditions, including the consummation of the Bond Offering on terms satisfactory to BBVA and the settlement of the New Notes in an aggregate amount of $300,000,000.