62 slides from Banco Bilbao Vizcaya Argentaria's earnings presentation, Apr 30, 2020
Slide 1: Creating Opportunities: 1Q20 Results
Creating Opportunities 1Q20 Results April 30%, 2020
Slide 2: Disclaimer
1Q20 Results April30"2020 Disclaimer This document is only provided for information purposes and does not constitute, nor should it be interpreted as, an offer to sell or exchange or acquire, or an invitation for offers to buy securities issued by any of the aforementioned companies. Any decision to
Slide 3: Our response to COVID-19
Our response to COVID-19 1020 Peawlts/ April30"2020 Protect the health and safety of our employees, clients and the community iy ° Continue to 4 provide an where we operate Offer financial support to our clients ~ 86,000 employees working remotely Central services Network 95% 71% BBVA donates €35mil
Slide 4: Our digital edge is a competitive advantage
1020 Felts / ‘April30"2020 In this context, our digital edge is a competitive advantage 7 REMOTE CHANNELS 7 REMOTE CAPABILITIES 7 DIGITAL SALES % OF ACTIVITY INCREASE!2 % VISITS TO "MY CONVERSATIONS"2 % OF TOTAL UNITS SALES MTD + 32% } +35% } 03.4% 59.9% Transaction volume Cy “My Conversations” 59.0
Slide 5: Strong Pre-Provision Profit growth and anticipation of COVID-19 provisions
1020 Results fs April30%2020 Strong Pre-Provision Profit growth and anticipation of COVID-19 provisions 4 OPERATING INCOME 4 NET ATTRIBUTABLE PROFIT (€M current) (€M current) Excluding COVID-19 front-loaded provisions and one-offs** +14.1% — -75.3% 7 +6.4% COVID-19 | front-loaded provisions. 3,566 1
Slide 6: We face this crisis from a position of strength
1920 Results AEM ‘April30"2020 We face this crisis from a position of strength STRONG AND LOW VOLATILE OPERATING INCOME / OPERATING INCOME/ RWAS (2008-2019 AVERAGE, %) PEER1 BVA es 34% PEER 2 3.4% PEER 3 2 7% PEERS FE 2 6% PEERS a 2 50 PERC CTT 2 3% MAC 2) 2 0/, PER] a 2 2% PEERS LE 2 1% PEERS 2] PE
Slide 7: 1Q20 Highlights
1020 Highlights fal ll a Robust core revenue growth Gross loan growth Ending balance €constant Nil FEES € constant € constant +4.5% vs.Dec19 +7,5%vs.1019 +6.3% vs.1019 1920 Results (ea ‘April30"2020 pune Outstanding operating income and efficiency COST TOINCOME € constant, YTD OPERATING INCOME € con
Slide 8: 1Q20 Profit & Loss
1Q20 Profit & Loss BBVA Group Change 1Q20/1Q19 1020 Results ‘April30%2020 Net Interest Income Net Fees and Commissions Net Trading Income Other Income & Expenses Gross Income Operating Expenses Operating Income Impairment on Financial Assets Provisions and Other Gains and Losses Income Before Tax In
Slide 9: Robust core revenue growth
Robust core revenue growth / NET INTEREST INCOME (€M CONSTANT) +75% — 4,238 4390 4,452 4641 4,556 Good performance cPI Linkers in. most geographies 1019 2Q19° 3Q19) 4Q19 1920 / NET TRADING INCOME (€M CONSTANT) _— + 54.6% oe NTI performance 493 positively 384 impacted by FX hedges 1 io7 I 1019 20 301
Slide 10: Outstanding operating income and efficiency
1920 Results ata Outstanding operating income and efficiency / GROUP OPERATING JAWS / GROUP OPERATING INCOME / EFFICIENCY RATIO (3M20 YoY (%);€ CONSTANT) (YoY (%);€M CONSTANT) (%; € CONSTANT) -401 bps + 20.3% 1 2% oe 15 72% Average 12m 3,566 49.0% 2,965 45.0% 2.2% 7 Core Revenues Operating 3M19 3M20
Slide 11: Risk indicators impacted by COVID-19 impairments
1920 Results Ain ‘April30"2020 Risk indicators impacted by COVID-19 impairments / FINANCIAL ASSETS IMPAIRMENTS (€M CONSTANT) 2,575 1.433 ovisi COVID-19 966 release one-ot 1,140 1,145 impairments | 704 | | 1Q19 2Q19 3Q19 AQ19 1Q20 / COST OF RISK (%) 2.57% CoR 1.03% 1.16% CoR ex- covip-19 rn impairmen
Slide 12: Macro provisioning based on BBVA Research scenarios
1920 Results A April30!"2020 Macro provisioning based on BBVA Research current incomplete “v-shaped” scenarios Macro scenarios by country GDP LEVELS CURRENT AND PREVIOUS FORECASTS (2019=100) @® YZ GLOBAL(cDPYoY%) “2.4 2019 2020 2021 TG / SPAIN coryoy%) -10.5 2019 2020 2021 2: BBVA Researc Hl / EUROZ
Slide 13: Impairments breakdown by business area
esos Al Impairments breakdown by business area / IMPAIRMENTS BREAKDOWN / COST OF RISK BREAKDOWN (€M CONSTANT) (%, CURRENT YTD) Recurrent — COVID-19 Frontloaded Total Recurrent Total 2019 Impairments Impairments* Impairments Impairments Impairments Spain 143 517 660 0.33% 1.54% 0.18% @ USA 146 280 42
Slide 14: Capital: first quarter impacted by activity, markets and provisions
eis A On capital, first quarter impacted by strong activity, market related impacts and provision frontloading / CET1 FULLY-LOADED QUARTERLY EVOLUTION (%, BPS) -90 bps 33 bps 11.74% i | | — “26 bps -3bps a p 10.84% -50 bps | 3 bps -47 bps | Dec-19 Net Earnings COVID-19 ATI RWAs FX and HTC&S Others M
Slide 15: Moving to a CET1 management buffer target
oon Ml ‘April30"2020 Moving from a CET] target of 11.5%-12% toa 225-275 bps CET1 management buffer target / CET1 FULLY-LOADED- BBVA GROUP (%) FROM: %CET1 TARGET TO: CET] MANAGEMENT BUFFER 11.5-12.0% 225-275bps | 10.84% 9 . 9.27% “oes ops 8.59% CET1 Management 225 bps oie. Buffer target (CET1implicat
Slide 16: Agreement with Allianz to boost non-life insurance in Spain
BBVA reaches an agreement with Allianz to boost its non-life insurance business in Spain STRATEGIC LONG TERM ALLIANCE Non-Life Insurance business is strategic for BBVA This alliance strengthens our innovative products offer, leveraging on capabilities of a leading global industrial partner like Alli
Slide 17: Business Areas
Creating Opportunities BUSINESS Areas
Slide 18: Spain
= | Spain Profit & Loss Net Interest Income Net Fees and Commissions, Net | rading Income Other Income & Expenses Gross Income Operating Expenses Operating Income Impairment on Financial Assets Provisions & other gains (losses) Income Before Tax Income lax / KEY RATIOS CUSTOMER SPREAD (%) Yield on l
Slide 19: USA
= | USA Profit & Loss Net Interest Income . 126 Net Fees and Commissions Net Trading Income 164.4 Other Income & Expenses na. Gross Income 3.4 Operating Expenses -3.5 Operating Income 16.4 Impairment on Financial Assets 193.2 Provisions & other gains (losses) -88.1 Income Before Tax na Income Tax na
Slide 20: Mexico
1920 Results (Ry ‘April30"2020 i-} | Mexico 7 ACTIVITY (mar-20) (CONSTANT €) Profit & Loss 000 QoQ Net Interest Income 1,545 4A 3.0 -0.6 €Bn Net Fees and Commissions 296 -0.1 “14 “115 €Bn 68.9 +7.6% Net Trading Income 78 267 25.1 18.1 50.5 +7.8% Other Income & Expenses. al 808 785 -20.0 Gross Income
Slide 21: Turkey
12.3 12.6 7.7 9.9 11.8 12.4 4.6
Slide 22: South America
» | South America Net Attributable Profit Colombia Peru 30 307 -30.3 Argentina 8 -70.4 -87.0 707 Other? 24 -15.8 -26.1 20.6 South America 70 53.8 -63.8 56.6 (1) Venezuela in current€m_ (2) Other includes BBVA Forum, Venezuela, Paraguay, Uruguay and Bolivia, / KEY RATIOS CUSTOMER SPREAD (%) COST OF R
Slide 23: Outlook and Final Remarks
Creating Opportunities Outlook and Final Remarks
Slide 24: Outlook
Soon Al Outlook COSTS Real negative growth expected in all business areas. Better than expected across the board COST OF RISK 2020 cost of risk to be significantly below 1Q20, c. 150-180 bps, according to our best estimate CAPITAL In our base case scenario, we should be close to the upper part of th
Slide 25: Final Remarks
Final Remarks Outstanding Operating Income growth, demonstrating resilience as we manage through the crisis Risk indicators impacted by significant COVID-19 provision frontloading, including updated macro scenarios and specific provisions for most affected exposures crn ae We operate from a position
Slide 26: Annex
Annex 01 02 03 04 O05 06 07 08 Net Attributable Profit evolution Gross Income breakdown P&L Accounts by business unit Customer Spread by country Outstanding loan commitments Stages breakdown by business areas EAD to most vulnerable sectors in the current environment ALCO Portfolio, NII Sensitivity a
Slide 27: Net Attributable Profit evolution
O1 Net Attributable Profit evolution Creating Opportunities
Slide 28: Net Attributable Profit evolution
1920 Resuts Net Attributable Profit evolution (€M) BUSINESSES -1,017€m 1182 = -59 -485 | 186 292 5262 | 28 r] —_ — r] -247 ie) -81 3M19 FX Spain USA Mexico Turkey Restof | SouthAmerica Corp. Center 3M20 Effect Eurasia YoY (%) 7 7 - - tonne) 140.8 176.4 39.9 03 173.6 53.8 Note: excluding BBVA USA 192
Slide 29: Gross Income breakdown
Q2 Gross Income breakdown Creating Opportunities
Slide 30: Gross Income breakdown
Gross Income breakdown / 3M20 Spain 1,506 €m Rest of Eurasia 126 €m 24% P04 USA 13% 814 €m South America [| 14% 863 €m 17% W Turkey 1,073 €m 31% Mexico 1,991€m Note: Figures exclude Corporate Center. 1020 Results ‘April30"2020
Slide 31: P&L Accounts by business unit
QOS P&L Accounts by business unit Rest of Eurasia Corporate Center Colombia Peru Creating Opportunities
Slide 32: Rest of Eurasia — Profit & Loss
1920 Results Jey Rest of Eurasia — Profit & Loss Profit & Loss A(%) A(%) 1Q20 vs1Q19 vs 4Q19 Net Interest Income 47 19.3 5.1 Net Fees and Commissions 40 12.9 21.8 Net Trading Income 36 36.2 -2.2 Other Income & Expenses 2 32.2 263.5 Gross Income 126 21.6 8.8 Operating Expenses -73 3.9 -10.2 Operating
Slide 33: Corporate Center — Profit & Loss
Corporate Center — Profit & Loss Profit & Loss 1920 Net Interest Income -41 Net Fees and Commissions 9) Net Trading Income 179 Other Income & Expenses -19 Gross Income m1 Operating Expenses -208 Operating Income -98 Impairment on Financial Assets 6) Provisions & other gains (losses) -25 Income Befor
Slide 34: Colombia — Profit & Loss
Colombia — Profit & Loss Profit & Loss A (%) 1Q20 vs 1Q19 Net Interest Income 210 8.4 Net Fees and Commissions 18 -13.8 Net Trading Income 5 -74.0 Other Income & Expenses =| na. Gross Income 231 -3.9 Operating Expenses -9] 6.2 Operating Income 140 -9.4 Impairment on Financial Assets -130 95.5 Provis
Slide 35: Peru — Profit & Loss
Peru — Profit & Loss Cuenta de resultados A(%) A(%) 1T20 vs 1119 vs 4T19 Margen de intereses 219 -0.4 18) Comisiones 53 -2.3 -6.3 Resultados de operaciones financieras 37 -54 -29.9 Otros ingresos netos -6 -0.6 22./ Margen bruto 303 -1.4 5.2 Gastos de explotacién -120 6.2 0.9 Margen neto 183 -5.8 -8.
Slide 36: Customer spread by country
04 Customer spread country Creating Opportunities
Slide 37: Customer spreads: quarterly evolution
ry Customer spreads: quarterly evolution / AVERAGE 1Q19 2Q19 3Q19 4Q19 1Q20 1Q19 2Q19 3Q19 4Q19 1Q20 Spain 1.96% 1.99% 2.00% 1.99% 1.96% Turkey TL 2.50% 2.72% 410% 7.12% 7.46% Yield on Loans 2.04% 2.06% 2.05% 2.02% 1.99% Yield on Loans 19.02% 19.09% 18.56% 16.46% 14.58% Cost of Deposits -0.07% -0.06
Slide 38: Outstanding loan commitments to non-financial corporations
Q5 Outstanding loan commitments to non-financial corporations Creating Opportunities
Slide 39: Loan commitments by business area
€ bn USA1 24.7 Spain 16.4 Eurasia 13.4 Turkey 2.5 South America 2.3 Mexico 1.9 Total Group 61.2
Slide 40: Stages breakdown by business areas
O06 Stages breakdown by business areas Creating Opportunities
Slide 41: Stages breakdown by business area
Stages breakdown by business area / CREDIT RISK BREAKDOWN BY BUSINESS AREA (Mar-20,€ MN) BBVA GROUP Stage Slege 2 Stage 3 389,830 36,820 15,998 2,852 2,546 8,349 TH spain Stage Slage 2 Stage 3 e USA 1920 Results a ‘April30"2020 Stage Slage 2 Stage 3 Stage 1 2,866 45 Stage 2 299 37 Stage 3 14 8/
Slide 42: EAD to most vulnerable sectors in the current environment
Q/ EAD to most vulnerable sectors In the current environment Creating Opportunities
Slide 43: Exposure at default to most vulnerable sectors
Exposure at default to most vulnerable sectors in the current environment / BREAKDOWN BY SECTORS (Mar-20) Leisure’ Developer Real Estate Retailers non food Upstream & Oilfield services” Air & Marine transportation 3 10.41 5.64 5.44 4.70 1.88 Total EAD to the most vulnerable sectors 28.07 (1) Include
Slide 44: ALCO Portfolio, NII Sensitivity and LCRs & NSFRs
08 ALCO Portfolio, NIl Sensitivity and LCRs & NSFRs Creating Opportunities
Slide 45: ALCO portfolio
ies a ALCO portfolio / ALCO PORTFOLIO BREAKDOWN BY REGION (€ BN) Amort Cost Fair Value 52.4 50.8 54.3 (HTC) (HTC&S) South America a wm 27 a _ March 2020 (€BN) (€BN) (duration) Mexico A | ee : South America 0.1 3.2 1.3years Turkey | Be | >) Mexico 1.0 5.6 1.8years 19 124 Turkey 45 3.4 4.0years USA :
Slide 46: NII sensitivity to interest rates movements
ies a NII sensitivity to interest rates movements / ESTIMATED IMPACT ON NII IN THE NEXT 12 MONTHS TO PARALLEL INTEREST RATE MOVEMENTS (%) NII SENSITIVITY TO +100 BPS NII SENSITIVITY TO -IOOBPS 15% 0% 7 = om = = - - os 0% -15% Euro USA Mexico Euro USA Mexico Note: Nl sensitivities calculated using ou
Slide 47: Liquidity and funding ratios
Liquidity and funding ratios / BBVA GROUP AND SUBSIDIARIES LCR & NSFR (MAR-20) BBVA GROUP Euro USA Mexico Turkey S. America LCR 134% (156%!) 156% 144% 2 146% 153% All countries >100% NSFR 120% 114% 112% 127% 151% All countries >100% ide the Eurozone. If these liquid assets are considered the ratio w
Slide 48: CET1 sensitivity to market impacts
O9 CET1 sensitivity to market impacts Creating Opportunities
Slide 49: CET1 Sensitivity to Market impacts
ena A CET1 Sensitivity to Market impacts! / TOA10% DECLINE IN THE PRICE OF TELEFONICA SHARE PRICE (MAR-20) / TO A10% CURRENCY DEPRECIATION _ - 2.5bps MXN -3bps TRY -3bps / TO +100 BPS WIDENING IN THE SPANISH CREDIT SPREAD USD +Qpbps (MAR-20) - 13bps (1) CET] sensitivity considering the FL capital ra
Slide 50: RWAs by business area
10 RWAs by business area Creating Opportunities
Slide 51: Risk-Weighted Assets by business areas
"qrokes An Risk-Weighted Assets by business areas Fully-Loaded RWAs Breakdown by business area (€m) Mar-20 Dec-19 Mar-19 Spain 110,929 104,911 107,570 USA 68,765 65,170 65,217 Turkey 59,163 56,642 58,526 Mexico 53,522 59,299 54,831 South America 44,876 45,413 44,970 Argentina 6,910 6,093 7,963 Chile
Slide 52: Book Value of the main subsidiaries
1] Book Value of the main subsidiaries Creating Opportunities
Slide 53: Book Value of the main subsidiaries
1920 Results AEE Book Value of the main subsidiaries'-2 € BN, MAR 20 Mexices — &. 9. Eee LETETETETTETETETETETETETTTTETTTETETETETTET TET LMM MMMM MLL Turkey 3. DAZE Peru 1.2 = Colombia 1.1 Emm Argentina 0.9 Chile 0.3 Venezuela Q,1 I (1) Includes the initial investment + BBVA's undistributedresults +
Slide 54: TBV per share and dividends evolution
12 TBV per share and dividends evolution Creating Opportunities
Slide 55: Shareholder's return: TBV per share and dividends
Shareholder’s return: TBV per share and dividends 0.26 Mi pivipenps TBV/SHARE 6.27 578 n -19 Sep-19 Dec-19 Mar-20 / TBV PER SHARE & DIVIDENDS (€ PER SHARE) 1020 Results ‘April30"2020
Slide 56: Garanti: wholesale funding
13 Garant: wholesale funding Creating Opportunities
Slide 57: Turkey — Liquidity & funding sources
Turkey — Liquidity & funding sources a Solid liquidity position: + Total LTD ratio is at 95%, increasing slightly by 63 bp in 1Q20 by Foreign Currency LTD. On the other hand, TL currency LTD remained stable in this quarter. * Foreign currency loans increased by USD 0.5Bn toc. USD 13.6 Bnin 1Q20 * Li
Slide 58: Argentina: hyperinflation adjustment
14 Argentina: hyperinflation adjustment Creating Opportunities
Slide 59: Argentina hyperinflation adjustment
Argentina hyperinflation adjustment Profit & Loss 1Q20 Hyperinflation (reported) adjustment Net Interest Income 242 6 Net Fees and Commissions 27 1 Net Trading Income 26 ] Other Income & Expenses -84 -64 Gross Income 210 -56 Operating Expenses -118 9 Operating Income 92 -65 Impairment on Financial A
Slide 60: Digital sales breakdown
15 Digital sales breakdown Creating Opportunities
Slide 61: Outstanding trend in digital sales
Outstanding trend in digital sales (% OF TOTAL SALES YTD, # OF TRANSACTIONS AND PRV') GROUP 553 60.7 UNITS PRV 39.9 454 28.9 Mar-18 Mar-19 Mar-20 83) MEXICO 53.0 58.0 39.6 a5 (402 25.7 Mar-18 Mar-19 Mar-20 Figures have been resi hile a proxy of a bet! [SPAIN 59.5 42.6 49.3 40.1 31.3 Mar-18 Mar-19 Ma
Slide 62: BBVA
BBVA