BBVA : 1Q26 Earnings Presentation

About this update from Banco Bilbao Vizcaya Argentaria, S.a.

1Ǫ26 Earninas April 30, 2026 1Q26 EARNINGS Excellen" Value Crea"ion and Wrot"abili"y TBV + DIVIDENDS (€ / SHARE 1 ) +14.7% +5.0% +18.1 % YoY ex-SBB 9.14 10.01 10.49 0.92 2 9.57 Mar-25 Dec-25 Mar-26 TBV / share Dividends / share PROFITABILITY METRICS (%) ROTE 20.2 21.7 19.3 ROE 19.3 20.7 18.4 3M25 2025 3M26 Total number of shares considered: 5,751m as of Mar-25, 5,626m as of Dec-25 and 5,573m as of Mar-26. Gross dividend per share : 0.32€ paid in Nov-25 and 0.60€ paid in Apr-26. p. 3 1Q26 EARNINGS Ano"her very S"rona Ǫuar"er in Wrot" and Capi"al Genera"ion NET ATTRIBUTABLE PROFIT (CURRENT €M) +10.8 % +18.0 % 2,698 2,989 1Q25 4Q25 1Q26 EPS (€) 1 0.45 0.42 0.51 2,533 CET1 RATIO (%) +13 bps 12.83 % 12.70 % Target Range 11.5 % - 12.0 % SREP Requirement 8.98 % Dec-25 Mar-26 p. 4 EPS calculated according to IAS33. 1Q26 EARNINGS 1Ǫ26 Key Financial Messaaes Strong ac"ivi"y drives Ne" In"eres" Income growth Excellent Fee Income evolution NET INTEREST INCOME +20.2 % vs. 1Q25 CONSTANT +15.5 NET FEES AND COMMISSIONS % vs. 1Q25 CONSTANT TOTAL LOAN GROWTH 1 +17.0 % vs. 1Q25 CONSTANT Positive jaws and leading Efficiency Ra"io EFFICIENCY RATIO 38.0 % Sound Asse" Ǫuali"y metrics COST OF RISK 1.54 % Solid Capi"al Wosi"ion CET1 RATIO 12.83 % vs. 11.5 % -12 % TARGET RANGE p. 5 (1) Performing loans under management excluding repos. 1Q26 EARNINGS 1Ǫ26 Wrot" & Woss Change Change 1Q26/1Q25 1Q26/4Q25 BBVA GROUP (€M) Net Interest Income 1Q26 7,537 % const. 20.2 % 17.8 % const. 2.9 % 7.2 Net Fees and Commissions 2,256 15.5 9.5 0.9 5.2 Net Trading Income 915 1.1 -3.4 26.2 31.9 Other Income & Expenses -56 -54.7 -31.3 -23.8 -28.2 Gross Income 10,652 18.3 14.2 4.3 8.8 Operating Expenses -4,049 17.5 13.7 -1.6 1.9 Operating Income 6,604 18.7 14.6 8.3 13.4 Impairment on Financial Assets -1,820 35.0 31.4 -0.3 4.3 Provisions and Other Gains and Losses -62 113.0 113.9 -57.7 -57.1 Income Before Tax 4,722 12.8 8.6 14.5 20.0 Income Tax -1,534 8.4 4.6 15.5 20.9 Non-controlling Interest -199 32.8 8.1 33.1 50.9 Net Attributable Profit 2,989 14.1 10.8 12.9 18.0 p. 6 1Q26 EARNINGS Remarkable Grow"h Trend in Revenues NET INTEREST INCOME (CONSTANT €M) +20.2 % +2.9 % NII growth driven by strong activity and price management NET FEES AND COMMISSIONS (CONSTANT €M) +15.5 % +0.9 % Positive fee income trend levered on payments, asset management and higher insurance and CIB contribution NET TRADING INCOME (CONSTANT €M) +1.1 % +26.2 % NTI driven by positive dynamism in Global Markets GROSS INCOME (CONSTANT €M) +18.3 % +4.3 % Solid gross income growth mainly due to positive core revenues evolution p. 7 1Q26 EARNINGS Resilien" NII despite Declining Rates Thanks to Solid Loan Growth and Effective Price Management TOTAL LOAN GROWTH 1 (MAR-26, YOY, CONSTANT €) BBVA CUSTOMER SPREADS (%) ECB Deposit Rate 2 4.0% NET INTEREST INCOME (%, CONSTANT €) +3.6 % Spain +6.3 % 3.44 3.19 2.82 ECB Deposit Rate 2 2.0% 1,598 1,656 1Q24 2Q24 3Q24 4Q24 1Q25 2Q25 3Q25 4Q25 1Q26 Mexico +8.4 % 11.70 Banxico Policy Rate 2 11.0% 11.00 10.89 Banxico Policy Rate 2 6.75% +8.3 % 2,895 3,136 1Q24 2Q24 3Q24 4Q24 1Q25 2Q25 3Q25 4Q25 1Q26 (1) Performing loans under management, excluding repos. Mexico according to local GAAP (2) End of period p. 8 1Q26 EARNINGS Positive Jaws and Leading Efficiency Ratio POSITIVE JAWS (3M26 YOY, CONSTANT €) FOOTPRINT +18.3 % +17.5 % INFLATION 1 8.9 % 12M AVERAGE + 13.9 % excl. voluntary redundancies Gross Income Operating Expenses EFFICIENCY RATIO (COST-TO-INCOME, % CONSTANT €) -24 bps 38.3 38.0 36.8 % excl. voluntary redundancies 3M25 3M26 (1) Weighted by operating expenses and excluding Venezuela. p. 9 1Q26 EARNINGS Sound Asse" Ǫuali"y Me"rics FINANCIAL ASSETS IMPAIRMENTS (CONSTANT €M) 1,348 1,470 1,645 1,825 1,820 1Q25 2Q25 3Q25 4Q25 1Q26 NPL (CURRENT €BN) 14.3 14.6 14.3 14.8 15.2 Mar-25 Jun-25 Sep-25 Dec-25 Mar-26 COST OF RISK (%, QUARTERLY) 1.52 % 1.54 % 1.30 % 1.33 % 1Q25 2Q25 3Q25 4Q25 1Q26 1.41 % NPL & COVERAGE RATIOS (%) 82 % 81 % 84 % 85 % 86 % COVERAGE NPL 2.9 % 2.9 % 2.8 % 2.7 % 2.6 % Mar-25 Jun-25 Sep-25 Dec-25 Mar-26 p. 10 1Q26 EARNINGS Our Solid Capi"al Wosi"ion Underpins Already completed two tranches of the SBB approved in Dec-25 for 2.5 billion € Attractive Shareholder's Remuneration CET1 RATIO (%, BPS) +13 bps +75 bps -40 bps 12.70 % -34 bps +12 bps 12.83 % Target Range 11.5 % - 12.0 % SREP Requirement 8.98 % Dec-25 Results Dividend accrual & AT1 coupons RWAs (constant €) Others 1 Mar-26 Third tranche to start early next week, for c. 1.5 billion € (1) Includes, among others, FX, mark to market of HTC&S portfolios, minority interests, and a positive impact in OCI equivalent to the Net Monetary Position value loss in hyperinflationary economies registered in results. p. 11 1Q26 EARNINGS 8 THE ROBOT 4 Operations & Processes ROBOT 1 Blue: Personal Advisor for every client ROBOT 2 AI for the Banker - relationship manager companion ROBOT 3 Risk ROBOT 5 Software development CLIENTS Smart multimodal advisors Hyper personalization PROCESSES Smart E2E automation New processes definition EMPLOYEES Empower our employees with AI tools POSITIVE EARLY IMPACTS ー Blue: revamped rollout in ー 30% time reduction in 2H26 Claims Resolution in ー Individualized smart MEX servicing prompts in ー 50% time reduction in global App coding of our new payments platform ー Usage: 70% Monthly and 55% weekly active average users ー 2-3 hours average weekly savings per employee Advancina in "he Execu"ion ofi our AI Transfiorma"ion S"ra"eay ROBOT 6 Connected employees PILLAR 7 "Data-rich" company PILLAR 8 AI Architecture & Tech Capabilities Indus"rializina "he crea"ion, aovernance, and opera"ion ofi AI aaen"s a" scale across "he bank p. 12 1Q26 EARNINGS Group Financial Goals Evolu"ion ROTE (%, CURRENT €) GOAL c. 22 % AVG. 2025-2028 2025-3M26 avg 19.8 % TBV + DIV PER SH. (%, CURRENT €) GOAL Mid-"eens CAGR 2024-2028 CAGR 2024-3M26 14.2 % 16.6 % ex- SBB C/I RATIO (%, CURRENT €) 40 % 38 % 3M26 GOAL c. 35 % 2024 2025 2026 2027 2028 NET ATTRIBUTABLE PROFIT (CURRENT €) GOAL c. € 48 Bn CUMULATIVE 2025-2028 € 13.5 Bn CUM. 2025-3M26 Aligned with plan p. 13 REST OF BUSINESS Business Areas SPAIN MEXICO TURKEY SOUTH AMERICA 1Q26 EARNINGS BUSINESS AREAS Spain 1Q26 vs. 1Q25 vs. 4Q25 Net Interest Income 1,656 3.6 -1.2 Net Fees and Commissions 605 3.5 -2.4 Net Trading Income 295 20.0 59.2 Other Income & Expenses 97 8.4 55.8 Gross Income 2,653 5.4 4.3 Operating Expenses -894 9.7 -0.9 Operating Income 1,759 3.3 7.1 Impairment on Financial Assets -165 19.4 -3.7 Provisions and Other Gains and Losses -18 -28.1 -73.0 Income Before Tax 1,575 2.4 12.4 Income Tax -480 -8.7 28.9 Net Attributable Profit 1,095 8.1 6.4 YoY +6.3 % Mortgages +2.8 % Consumer + Credit Cards +9.4 % Very small businesses +0.3 % Mid-size companies +7.6 % Corporate + CIB +11.0 % Public sector +10.0 % Others +8.6 % KEY RATIOS CUSTOMER SPREAD (%) ASSET QUALITY RATIOS (%) Yield on loans Coveraae COST TO INCOME (%) (YtD) 33.7 Cus"omer NWW spread Ra"io Cos" ofi deposi"s RoRWA (%) (YtD) 3.70 (Ǫuar"erly) CoR 1Q25 4Q25 1Q26 1Q25 4Q25 1Q26 PROFIT & LOSS (€M) Δ (%) ACTIVITY (€BN, MAR-26) LENDING 1 CUST.FUNDS 1 YoY +7.8 % Demand Deposits +5.6 % Time Deposits +21.8 % Off-BS Funds +7.6 % Performing loans and Cust.Funds under management, excluding repos. ー Solid loan growth (+1.2% QoQ), driven by Consumer and Enterprises. ー Strong NAP, supported by solid core revenues (+3.6% YoY). QoQ trends impacted by seasonal effects. ー Costs remain well-controlled despite one-off impacts from the voluntary redundancies recorded in 1Q26 (+4.8% YoY excl. voluntary redundancies). Best-in-class efficiency ratio . ー Sound asset quality, with solid underlying trends in line with expectations. Continued improvement in NPL and coverage ratios. p. 15 1Q26 EARNINGS BUSINESS AREAS PROFIT & LOSS (CONSTANT €M) Δ Constant (%) Net Interest Income Δ Current (%) 1Q26 vs. 1Q25 vs. 4Q25 vs. 1Q25 3,136 8.3 -0.3 13.3 Other Income & Expenses Gross Income 204 4,274 44.6 10.3 3.9 1.0 51.0 15.4 Mexico Net Fees and Commissions 648 6.3 -2.0 11.2 YoY YoY Net Trading Income 286 24.0 26.2 29.8 +8.4 % +11.4 % Impairment on Financial Assets -883 21.4 -0.1 27.0 SMEs +13.5 % Provisions and Other Gains and Losses -9 -39.3 -76.8 -36.4 Income Before Tax 2,064 6.8 2.0 11.7 Other Commercial +5.5 % Income Tax -611 12.6 4.3 17.8 Net Attributable Profit 1,453 4.5 1.0 9.3 Public sector +5.3 % KEY RATIOS CUSTOMER SPREAD (%) ASSET QUALITY RATIOS (%) Yield on loans Coveraae COST TO INCOME (%) (YtD) 30.8 Cus"omer NWW spread Ra"io Cos" ofi deposi"s (Ǫuar"erly) CoR RoRWA (%) (YtD, CONSTANT) 6.95 1Q25 4Q25 1Q26 1Q25 4Q25 1Q26 ACTIVITY (MAR-26; CONSTANT €BN) LENDING 1 CUST.FUNDS 1 +7.8 % Mortgages Demand Deposits +5.8 % Consumer Credit Cards +13.2 % +12.3 % +25.6 % Time Deposits Off-BS Funds +15.5 % Operating Expenses -1,318 9.8 2.6 14.8 Operating Income 2,956 10.5 0.4 15.6 Performing loans and Cust.Funds under management, excluding repos, according to local GAAP. ー Robust loan growth (+10.4% YoY excl. FX effect) 2 , well balanced across retail and wholesale. ー Deposits continue to build momentum , led by retail demand deposits ー Strong revenues performance supports earnings growth. Solid NII (+8.3% YoY) despite declining rates, supported by sound activity, and broad-based fee growth. QoQ evolution affected by seasonality. ー Outstanding efficiency ratio at 30.8% and solid asset quality. 13.3% YoY appreciation of the MXP against the USD, impacting USD-denominated loans (USD commercial loans represent 27% of BBVA's commercial loan portfolio as of Mar´26). p. 16 1Q26 EARNINGS BUSINESS AREAS Turkey Gross Income 1,712 35.1 19.2 +33.9 % Operating Expenses -679 17.6 2.1 TL Commercial Operating Income 1,033 49.8 33.8 Impairment on Financial Assets -352 50.2 5.9 TL Time Provisions and Other Gains and Losses -16 n.s. -27.0 Income Before Tax 666 46.9 59.2 TL Retail +51.0 % Income Tax -354 33.8 53.9 Non-controlling Interest -49 60.5 55.8 TL Demand Net Attributable Profit 263 66.1 67.6 PROFIT & LOSS (CURRENT €M) Net Interest Income Net Fees and Commissions Net Trading Income Other Income & Expenses Of which: 1Q26 1,121 565 146 -120 Δ Current (%) vs. 1Q25 vs. 4Q25 59.9 19.0 2.7 8.4 18.2 168.3 11.6 48.1 ACTIVITY (MAR-26; CONSTANT €BN; BANK ONLY) LENDING 2 CUST.FUNDS 2 YoY 1 +14.7 % -12.8 % FC YoY 1 +12.2 % +45.3 % FC Time FC Demand +22.1 % +20.8 % +24.1 % +6.6 % Net Monetary Position (NMP) loss -292 -16.0 123.9 CPI linkers revenues 211 -28.8 148.3 FC (foreign currency) evolution excluding FX impact. KEY RATIOS CUSTOMER SPREAD (%) ASSET QUALITY RATIOS (%) FC Coveraae COST TO INCOME (%) (YtD) 39.6 NWW Ra"io TW (Ǫuar"erly) CoR RoRWA (%) (YtD, CURRENT) 1.69 1Q25 4Q25 1Q26 1Q25 4Q25 1Q26 Performing loans and deposits under management, excluding repos, according to local GAAP. ー TL loans slightly declined in real terms QoQ, amid a more selective stance in consumer lending. FC loans remained flat QoQ. ー Strong NII growth supported by TL customer spread expansion (+34 bps QoQ) and loan growth. ー Higher NTI contribution while Fees maintained a positive momentum, led by payments, asset management and brokerage. ー CoR remained broadly stable QoQ. Note: Inflation rate 10.0% in 1Q26 vs 4.4% 4Q25 and 10.1% in 1Q25. p. 17 1Q26 EARNINGS BUSINESS AREAS Sou"h America NET ATTRIBUTABLE PROFIT (CURRENT €M) ACTIVITY (MAR-26; CONSTANT €BN) LENDING 1 CUST.FUNDS 1 YoY +15.0 % YoY +17.7 % Colombia +6.9 % +8.7 % Colombia +8.2 % Peru +14.4 % Peru Argentina Other +62.0 % +52.3 % +15.3 % Argentina Other +6.1 % Δ Current (%) 1Q26 vs. 1Q25 vs. 4Q25 Colombia 78 137.6 274.1 Peru 81 -2.6 20.2 Argentina 27 -45.9 -7.1 South America 249 16.3 78.0 Other ¹ 62 31.3 -58.7 (1) Other includes BBVA Forum (Chile), Venezuela, Uruguay and Brazil. KEY RATIOS CUSTOMER SPREAD (%) COST OF RISK (Quarterly, %) COL PER ARG COST TO INCOME (%) (YtD) 41.6 RoRWA (%) (YtD, CURRENT) 2.73 (1) Performing loans and Cust.Funds under management, excluding repos. COL ー Strong NAP performance, supported by robust core revenues growth and lower impairments . PER ー Solid NAP, driven by NII growth, - activity and customer spread expansion-, alongside strong fees and sound asset quality trends. ARG ー NAP supported by core revenues, with CoR still elevated but expected to gradually improve. 1Q25 4Q25 1Q26 1Q25 4Q25 1Q26 Note: Inflation rate ARG: 8.7% in 1Q26 vs 7.8% in 4Q25 and 8.5% in 1Q25. p. 18 1Q26 EARNINGS BUSINESS AREAS Res" ofi business PROFIT & LOSS (CONSTANT €M) Δ (%) Net Interest Income 232 27.0 0.5 Net Fees and Commissions 201 51.5 22.2 Net Trading Income 161 56.5 38.8 1Q26 vs. 1Q25 vs. 4Q25 ACTIVITY (MAR-26; CONSTANT €BN) LENDING 1 YoY +54.5 % CUST.FUNDS 1 YoY +38.5 % Other Income & Expenses 0 -60.9 -85.0 CIB US +58.1 % Gross Income 595 41.8 15.7 Operating Expenses -239 30.3 -17.6 Operating Income 355 50.7 58.6 CIB +15.6 % Impairment on Financial Assets -51 182.3 35.1 CIB Europe/UK +44.2 % Provisions and Other Gains and Losses -4 n.s. -58.9 Income Before Tax 300 35.9 70.7 Digital Banks +123.6 % Income Tax -64 35.3 245.3 CIB Asia +83.3 % Other +13.2 % Rest of business includes mainly CIB business in US, Europe & Asia and digital banks (Italy, Germany). KEY RATIOS ASSET QUALITY RATIOS (%) Other 6.7 % d Cust.Funds u (1) Performing loans an nder management, excluding repos. (1) Performing loans and Cust.Funds under management, excluding repos. ー Solid loan growth (+12.7% QoQ), well-balanced across geographies, driven by Corporate Lending and Project Finance. ー Strong NAP growth, driven by robust Gross Income evolution . Coveraae NWW Ra"io CoR COST TO INCOME (%) (YtD) 40.2 RoRWA (%) (YtD, CONSTANT) 2.01 ー Positive jaws , despite costs growth related to the strategic plan roll-out. ー Impairments increased due to higher coverage on specific exposures , bringing CoR to 30 bps. (Ǫuar"erly) 1Q25 4Q25 1Q26 ー FY2026 CoR expected at around 20 bps. p. 19 Net Attributable Profit 236 36.0 50.0 1Q26 EARNINGS Takeaways Outstanding Value Creation and Profitability metrics Net Attributable Profit continues its excellent trajectory Strong Core revenues evolution on the back of activity growth Advancing in the execution of our Strategy Continued CET1 capital generation On track to achieve our ambitious 2025-2028 Goals Upda"ed 2026 Ou"look GROUP MEXICO TURKEY > 20 % ROTE Loans: high single digit growth, with upward bia s Net Profit: around €1 billion, with downward bias REST OF BUSINESS Loans: 30% growth Gross Income: 30% growth Improved Guidance p. 20 Annex 1 2 3 4 P&L Accounts by Business Area Customer Spread by Country Stages Breakdown by Business Area 5 ALCO Portfolio, NII Sensitivity and LCRs & NSFRs CET1 Sensitivity to Market Impacts RWAs by Business Area 6 7 8 9 Book Value of the Main Subsidiaries MREL Medium-Term Strategic Objectives 1 W&W Accoun"s by Business Area Corporate Center Turkey (hyperinflation adjustment) Argentina (hyperinflation adjustment) Colombia Peru 1Q26 EARNINGS ANNEX - P&L ACCOUNTS BY BUSINESS AREA Corpora"e Cen"er PROFIT & LOSS (€M) 1Q26 Net Interest Income -83 vs. 1Q25 -6.4 vs. 4Q25 -42.0 Net Fees and Commissions -25 21.8 -32.7 Net Trading Income -118 n.s. n.s. Other Income & Expenses 18 128.0 -67.9 Gross Income -208 n.s. 50.3 Operating Expenses 1 -242 27.1 -9.0 Operating Income -450 95.3 11.3 Impairment on Financial Assets 4 n.s. n.s. Provisions and Other Gains and Losses 3 -18.6 n.s. Income Before Tax -443 94.7 9.6 Income Tax 145 271.1 95.5 Non-controlling Interest -7 6.9 268.0 Net Attributable Profit -305 56.5 -8.1 Expenses growth (in current): -5.6% YoY excl. voluntary redundancies p. 23 Δ (%) (1) 1Q26 EARNINGS ANNEX - P&L ACCOUNTS BY BUSINESS AREA Turkey - Hyperinflation Adjustment PROFIT & LOSS (€M) Net Interest Income (reported) (1) 1,121 adjustment (2) 23 Ex.Hyperinflation 1,098 Net Fees and Commissions 565 13 552 Net Trading Income 146 35 111 Other Income & Expenses -120 -356 236 Gross Income 1,712 -285 1,997 Operating Expenses -679 -41 -637 Operating Income 1,033 -326 1,360 Impairment on Financial Assets -352 -8 -344 Provisions and Other Gains and Losses -16 -7 -8 Income Before Tax 666 -342 1,007 Income Tax -354 -53 -301 Non-controlling Interest -49 55 -104 Net Attributable Profit 263 -339 601 3M26 Hyperinflation 3M26 3M26 reported figures calculated according to end of period FX. Mainly includes: (i) the Net Monetary Position (NMP) loss in the Other Income heading (ii) re-expression of all P&L headings according to the inflation rate until end of period, (iii) amortization expenses after the non-monetary assets revaluation, (iv) impact of applying the conversion exchange rate fixing instead of average. p. 24 1Q26 EARNINGS ANNEX - P&L ACCOUNTS BY BUSINESS AREA Araen"ina - Hyperinflation Adjustment PROFIT & LOSS (€M) Net Interest Income (reported) (1) 539 adjustment (2) 32 Ex.Hyperinflation 507 Net Fees and Commissions 111 7 104 Net Trading Income 50 -7 57 Other Income & Expenses -223 -155 -68 Gross Income 477 -122 599 Operating Expenses -235 -25 -210 Operating Income 241 -148 389 Impairment on Financial Assets -177 -11 -166 Provisions and Other Gains and Losses -1 -1 0 Income Before Tax 63 -160 223 Income Tax -20 56 -75 Non-controlling Interest -16 36 -52 Net Attributable Profit 27 -68 96 3M26 Hyperinflation 3M26 3M26 reported figures calculated according to end of period FX. Mainly includes: (i) the Net Monetary Position (NMP) loss in the Other Income heading (ii) re-expression of all P&L headings according to the inflation rate until end of period, (iii) amortization expenses after the non-monetary assets revaluation, (iv) impact of applying the conversion exchange rate fixing instead of average. p. 25 1Q26 EARNINGS ANNEX - P&L ACCOUNTS BY BUSINESS AREA Colombia Δ (%) PROFIT & LOSS (€M CONSTANT) Net Interest Income 1Q26 296 vs. 1Q25 23.6 vs. 4Q25 4.5 Net Fees and Commissions 39 47.1 -21.9 Net Trading Income 25 -10.7 70.7 Other Income & Expenses 2 n.s. n.s. Gross Income 362 26.1 23.1 Operating Expenses -144 9.5 -1.6 Operating Income 218 40.2 47.8 Impairment on Financial Assets -91 -18.1 -6.2 Provisions and Other Gains and Losses -3 n.s. n.s. Income Before Tax 124 179.6 108.5 Income Tax -44 n.s. 17.8 Non-controlling Interest -2 n.s. 39.4 Net Attributable Profit 78 133.0 274.0 p. 26 1Q26 EARNINGS Δ (%) Weru ANNEX - P&L ACCOUNTS BY BUSINESS AREA PROFIT & LOSS (€M CONSTANT) 1Q26 vs. 1Q25 vs. 4Q25 Net Interest Income 407 11.7 3.4 Net Fees and Commissions 85 5.6 -0.7 Net Trading Income 55 8.6 21.6 Other Income & Expenses -10 26.4 -15.0 Gross Income 538 10.1 4.8 Operating Expenses -208 10.9 -3.4 Operating Income 330 9.6 10.7 Impairment on Financial Assets -78 15.0 7.7 Provisions and Other Gains and Losses -9 n.s. -47.3 Income Before Tax 243 -1.8 16.3 Income Tax -69 -5.2 14.8 Non-controlling Interest -94 0.0 13.4 Net Attributable Profit 81 -0.8 21.2 p. 27 2 Cus"omer Spread by Coun"ry 1Q26 EARNINGS ANNEX - CUSTOMER SPREAD BY COUNTRY AVERAGE 1Q25 2Q25 3Q25 4Q25 1Q26 Spain 3.19% 3.05% 2.88% 2.80% 2.82% Yield on Loans 3.85% 3.66% 3.45% 3.39% 3.39% Cost of Deposits -0.66% -0.60% -0.57% -0.59% -0.58% Mexico MXN 12.00% 11.96% 11.98% 12.01% 11.74% Yield on Loans 14.99% 14.71% 14.42% 14.26% 14.02% Cost of Deposits -2.99% -2.75% -2.45% -2.25% -2.28% Mexico FC 1 5.44% 5.25% 5.24% 4.98% 4.79% Yield on Loans 6.23% 6.14% 6.21% 5.89% 5.69% Cost of Deposits -0.79% -0.90% -0.97% -0.91% -0.90% Turkey TL 1.46% 1.04% 1.00% 1.68% 2.02% Yield on Loans 37.76% 37.56% 36.53% 34.90% 33.72% Cost of Deposits -36.30% -36.53% -35.53% -33.23% -31.70% Turkey FC 1 7.85% 7.90% 7.88% 7.57% 7.35% Yield on Loans 8.13% 8.31% 8.23% 7.83% 7.57% Cost of Deposits -0.28% -0.41% -0.35% -0.27% -0.22% Argentina 17.13% 16.73% 14.02% 17.24% 17.41% Yield on Loans 29.96% 30.98% 32.37% 34.57% 30.40% Cost of Deposits -12.82% -14.25% -18.35% -17.33% -12.98% Colombia 5.31% 5.64% 5.81% 6.11% 6.02% Yield on Loans 12.25% 12.26% 12.23% 12.30% 12.49% Cost of Deposits -6.93% -6.62% -6.42% -6.19% -6.47% Peru 7.24% 7.22% 7.26% 7.42% 7.62% Yield on Loans 9.04% 9.02% 9.02% 9.17% 9.28% Cost of Deposits -1.80% -1.80% -1.76% -1.76% -1.65% Cus"omer Spreads: Quarterly Evolution (1) FC: Foreign Currency. p. 29 3 S"aaes Breakdown by Business Area 1Q26 EARNINGS ANNEX - STAGES BREAKDOWN BY BUSINESS AREA S"aaes Breakdown by Business Areas CREDIT RISK BREAKDOWN BY AREA (MAR-26, € M) BBVA GROUP Gross Exposure Accumulated impairments SPAIN Gross Exposure Accumulated impairments MEXICO Gross Exposure Accumulated impairments Stage 1 521,734 2,578 Stage 2 35,375 2,155 Stage 3 15,163 8,343 Stage 1 203,424 499 Stage 2 14,144 533 Stage 3 6,597 3,542 Stage 1 97,376 1,388 Stage 2 7,800 761 Stage 3 2,788 1,441 TURKEY SOUTH AMERICA REST OF BUSINESS Stage 1 65,993 228 Stage 2 6,485 366 Stage 3 3,130 1,710 Stage 1 53,072 392 Stage 2 4,458 309 Stage 3 2,497 1,551 Stage 1 106,666 32 Stage 2 2,464 169 Stage 3 152 98 COLOMBIA PERU ARGENTINA Stage 1 17,659 103 Stage 2 1,457 122 Stage 3 808 469 Stage 1 21,699 217 Stage 2 1,919 130 Stage 3 870 550 Stage 1 8,537 32 Stage 2 735 37 Stage 3 622 423 p. 31 4 AWCO Wor"fiolio, NII Sensi"ivi"y and WCRs & NSFRs 1Q26 EARNINGS ANNEX - ALCO PORTFOLIO, NII SENSITIVITY AND LCRS & NSFRS EURO ALCO PORTFOLIO MATURITY PROFILE (€ BN) AWCO Portfolio South America 0.2 6.3 1.4 years Turkey 4.9 5.8 1.8 years Mexico 5.6 11.9 3.7 years Euro 1 50.8 7.5 3.2 years Spain 34.4 3.2 Italy 5.4 2.7 Rest 11.0 1.6 ALCO PORTFOLIO BREAKDOWN BY REGION (€ BN) Amort Cost (HTC) MAR-26 (€ BN) Fair Value (HTC&S) (duration (€ BN) incl. hedges) EURO ALCO YIELD (MAR-26, %) + 3.0 % (1) Figures exclude SAREB senior bonds (€3.6bn as of Mar-25, Dec-25 and Mar-26) p. 33 1Q26 EARNINGS ANNEX - ALCO PORTFOLIO, NII SENSITIVITY AND LCRS & NSFRS NII Sensi"ivi"y to Interest Rates Movements ESTIMATED IMPACT ON NII IN THE NEXT 12 MONTHS TO PARALLEL INTEREST RATE MOVEMENTS (TO +/-100 BPS INTEREST RATES MOVEMENT, %) EURO BALANCE SHEET +/- 4-5 % MEXICO +/- 2.5 % Note: NII sensitivities to parallel interest rates movements as of Mar'26 for Euro Balance Sheet and Feb'26 for Mexico, using our dynamic internal model. Mexico NII sensitivity for +/-100 bps breakdown: MXN sensitivity +/-1.7%; USD sensitivity +/-0.8%. p. 34 1Q26 EARNINGS ANNEX - ALCO PORTFOLIO, NII SENSITIVITY AND LCRS & NSFRS Wiquidi"y and Fundina Ratios BBVA GROUP AND SUBSIDIARIES LCR & NSFR (MAR-26) LCR NSFR Total Group Loan To Deposit BBVA, S.A. 167 % / 141 % 1 165 % 155 % 125 % 116 % 131 % 93 % Mexico 103 % Turkey 2 134 % 139 % 86 % S. America All countries >100 % >100 % 94 % Bo"h WCR and NSFR sianitcan"ly above "he 100% requiremen"s, a" a Group level and in all bankina subsidiaries Using a more restrictive criterion on this ratio (limiting the LCRs of all of BBVA, S.A.'s subsidiaries to 100%), the resulting consolidated ratio reaches 141%. Bank-only. p. 35 5 CET1 Sensi"ivi"y "o Marke" Impac"s 1Q26 EARNINGS ANNEX - CET1 SENSITIVITY TO MARKET IMPACTS CET1 Sensi"ivi"y to Market Impacts 1 TO A 10% CURRENCY DEPRECIATION 2 (MAR-26) MXN ー 15 bps TRY ー 2 bps USD + 12 bps TO A 10% DECLINE IN TELEFONICA'S SHARE PRICE (MAR-26) ー 1 bps TO +100 BPS MOVEMENT IN THE SPANISH SOVEREIGN BOND (MAR-26) ー 9 bps TO +100 BPS MOVEMENT IN THE MEXICAN SOVEREIGN BOND (MAR-26) ー 8 bps CET1 sensitivity considering the FL capital ratio as of March 31st, 2026 This sensitivity does not include the cost of capital hedges, which are currently estimated at 1 bps per quarter for MXN and 2 bps per quarter for TRY. p. 37 6 RWAs by Business Area 1Q26 EARNINGS ANNEX - RWAS BY BUSINESS AREA Risk-Weiah"ed Asse"s by Business Area BREAKDOWN BY BUSINESS AREA (€M) Fully-Loaded RWAs Δ (%) Mar-25 Dec-25 Mar-26 vs. Mar-25 vs. Dec-25 Spain 121,215 119,734 117,752 -2.9% -1.7% Mexico 87,158 82,746 83,745 -3.9% 1.2% Turkey 65,982 71,551 74,171 12.4% 3.7% South America 54,979 55,912 59,235 7.7% 5.9% Argentina 11,098 10,501 12,115 9.2% 15.4% Chile 2,137 2,221 2,226 4.2% 0.2% Colombia 18,788 19,171 20,112 7.0% 4.9% Peru 19,270 19,856 20,202 4.8% 1.7% Others 3,686 4,164 4,581 24.3% 10.0% Rest of business 36,802 46,853 49,627 34.8% 5.9% Corporate Center BBVA Group 29,216 395,352 20,445 397,241 24,324 408,854 -16.7% 3.4% 19.0% 2.9% p. 39 7 Book Value ofi "he Main Subsidiaries Attention : This is an excerpt of the original content. 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