BBVA : 2Q26 Earnings Presentation

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

2Ǫ26 Earninas July 30, 2026 2Q26 EARNINGS Outstanding Va!»c Crca"ion and Wrot"abi!i"y TBV + DIVIDENDS (€ / SHARE 1 ) +17.3 % +5.4 % +21.8 % YoY e x-SBB 9.43 10.49 11.06 0.92 2 10.14 Jun-25 Mar-26 Jun-26 TBV / share Dividends / share PROFITABILITY METRICS (%) ROTE 20.4 22.2 19.3 ROE 19.5 21.1 18.4 6M25 2025 6M26 (1) Total number of shares considered: 5,755m as of Jun-25, 5,573m as of Mar-26 and 5,504m as of Jun-26.(2) Gross dividend per share: 0.32€ paid in Nov-25 and 0.60€ paid in Apr-26. p. 3 2Q26 EARNINGS Excellent Quarter in Wrot" and So!id Capi"a! Wosi"ion CET1 RATIO (%) +7 bps 12.83 % 12.90 % Target Range 11.5 % - 12.0 % SREP Requirement 8.98 % Mar-26 Jun-26 NET ATTRIBUTABLE PROFIT (CURRENT €M) +11.4 % +2.4 % 2,749 2,989 3,062 NAP 6M26 6,051 €M 2Q25 1Q26 2Q26 EPS EPS (€) 1 0.46 0.51 0.53 +15.2 % YoY p. 4 (1) EPS calculated according to IAS33. 2Q26 EARNINGS Sustained Woan Grow"h and Best-in-Class Wrot"abi!i"y over Time LOAN GROWTH (BASE 100=DEC.20, GROSS LOANS IN CURRENT €) +62 % 100 European Peers (1) +10 % Mar-26 Jun-26 Dec-20 Dec-21 Dec-22 Dec-23 Dec-24 Dec-25 PROFITABILITY (ROTE, %) 22.2 % 15.1 % European Peers (1) 11.2 % 9.2 % 3M26 6M26 2021 2022 2023 2024 2025 (1) European Peer Group: BARC, BNPP, CASA, DB, HSBC, ING, ISP, LBG, NDA, SAN, SG, UCG. Due to inorganic transactions, peer group banks of CABK and UBS excluded. p. 5 2Q26 EARNINGS Strong 6c"ivi"y growth TOTAL LOAN GROWTH 1 +17.7 % vs. Jun-25 CONSTANT 2Ǫ26 Kcy Financia! Mcssaacs Excellent Corc Rcvcn»cs evolution CORE REVENUES (NII+FEES) +17.4 % vs. 2Q25 CONSTANT Best-in-Class Efficicncy Ra"io EFFICIENCY RATIO 37.8 % Sound 6ssc" Ǫ»a!i"y metrics COST OF RISK (YtD) 1.43 % (1) Performing loans under management excluding repos. Solid Capi"a! Wosi"ion CET1 RATIO 12.90 % vs. 11.5 % -12 % TARGET RANGE p. 6 2Q26 EARNINGS 2Ǫ26 Wrot" & Woss Change Change 2Q26/2Q25 2Q26/1Q26 BBVA GROUP (€M) Net Interest Income 2Q26 7,627 % const. 17.8 % 22.9 % const. 2.1 % 1.2 Net Fees and Commissions 2,316 16.2 18.7 4.4 2.6 Net Trading Income 582 13.1 20.4 -35.8 -36.4 Other Income & Expenses -19 n.a. n.a. n.a. n.a Gross Income 10,506 15.7 20.6 -0.2 -1.4 Operating Expenses -3,951 18.5 22.5 -1.4 -2.4 Operating Income 6,555 14.1 19.5 0.5 -0.7 Impairment on Financial Assets -1,677 14.9 21.8 -6.5 -7.8 Provisions and Other Gains and Losses -19 -44.2 -41.5 -68.6 -69.1 Income Before Tax 4,859 14.4 19.2 4.1 2.9 Income Tax -1,578 30.7 36.0 4.1 2.9 Non-controlling Interest -219 30.5 31.0 16.9 9.7 Net Attributable Profit 3,062 6.5 11.4 3.3 2.4 p. 7 2Q26 EARNINGS Change 6M26/6M25 6M26 Wrot" & Woss BBVA GROUP (€M) 6M26 % const. % Net Interest Income 15,164 18.8 20.3 Net Fees and Commissions 4,572 15.8 14.0 Net Trading Income 1,498 5.5 4.6 Other Income & Expenses -75 n.a. n.a. Gross Income 21,159 16.9 17.3 Operating Expenses -8,000 17.9 17.9 Operating Income 13,159 16.2 17.0 Impairment on Financial Assets -3,497 24.2 26.6 Provisions and Other Gains and Losses -81 26.8 31.4 Income Before Tax 9,581 13.5 13.7 Income Tax -3,112 18.6 18.5 Non-controlling Interest -418 31.4 19.0 Net Attributable Profit 6,051 10.0 11.1 p. 8 2Q26 EARNINGS Strong and Consistent Growth in Corc Rcvcn»cs NET INTEREST INCOME (CONSTANT €M) +17.8 % +2.1 % NII growth driven by exceptional activity and price management NET FEES AND COMMISSIONS (CONSTANT €M) +16.2 % +4.4 % Positive fee income trend levered on payments, asset management and CIB NET TRADING INCOME (CONSTANT €M) +13.1 % -35.8 % Quarterly evolution mainly explained by more normalized Global Markets results and FX hedges valuation GROSS INCOME (CONSTANT €M) +15.7 % -0.2 % Solid gross income growth annually due to positive core revenues evolution p. 9 2Q26 EARNINGS Woan Grow"h in Spain and Mexico Drives Nc" In"crcs" Incomc Growth TOTAL LOAN GROWTH (YOY, CONSTANT €) KEY SEGMENTS LOAN GROWTH (YOY JUN'26, CONSTANT €) NET INTEREST INCOME (CONSTANT €M) +4.5 % Spain +6.3 % +7.4 % +10.1 % +9.2 % +2.0 % Jun-25 Jun-26 Consumer + Credit Cards Enterprises 2Q25 1Q26 2Q26 +8.9 % +2.7 % Mcxico +11.9 % +9.9 % +11.9 % +10.3 % Jun-25 Jun-26 Consumer + Credit Cards Enterprises 2Q25 1Q26 2Q26 Note: Enterprises in Spain includes 'Very Small Businesses', 'Mid-size Companies' and 'Corporates + CIB' segments. In Mexico it includes 'SMEs' and 'Other Commercial' segments. p. 10 2Q26 EARNINGS Markc" Sharc Gains in Spain and Mexico in Key Segments SPAIN (%, LOAN MARKET SHARES) 16.7 % 14.0 % 14.3 % 13.31 % 11.8 % 14.15 % Dec-20 Total loans May-26 Consumer Enterprises p. 11 MEXICO (%, LOAN MARKET SHARES 1 ) 40.3 % 37.3 % 30.4 % 30.6 % 26.17 % 23.45 % 23.5 % 19.4 % Dec-20 Total loans Credit Cards Payroll loans May-26 Enterprises (1) Mexican credit card market shares go beyond the pure banking sector data and include the relevant fintech players. 2Q26 EARNINGS Recurrent Wosi"ivc Jaws and Leading Efficicncy Ra"io JAWS (6M26 YOY, CONSTANT €) FOOTPRINT INFLATION 1 8.8 % 12M AVERAGE +16.9 % +17.9 % + 14.5 % excl. non recurring items 2 Gross Income Operating Expenses EFFICIENCY RATIO (COST-TO-INCOME, % CONSTANT €) +33 bps excl. non recurring items 2 - 77 bps 37.5 37.8 6M25 6M26 (1) Weighted by operating expenses and excluding Venezuela. (2) Non-recurring items: Voluntary redundancies in 1Q26 and VAT payment regularization in 2Q25 and 2Q26 . p. 12 2Q26 EARNINGS Sound 6ssc" Ǫ»a!i"y Mc"rics FINANCIAL ASSETS IMPAIRMENTS (CONSTANT €M) 1,813 1,470 1,639 1,807 1,690 2Q25 3Q25 4Q25 1Q26 2Q26 NPL (CURRENT €BN) 14.6 14.3 14.8 15.2 16.0 Jun-25 Sep-25 Dec-25 Mar-26 Jun-26 COST OF RISK (%, YTD) 1.32 % 1.35 % 1.39 % 1.54 % 1.43 % 6M25 9M25 12M25 3M26 6M26 NPL & COVERAGE RATIOS (%) 85 % 86 % 85 % COVERAGE 81 % 84 % 2.9 % 2.8 % 2.7 % 2.6 % 2.6 % NPL Jun-25 Sep-25 Dec-25 Mar-26 Jun-26 p. 13 2Q26 EARNINGS Strong Capi"a! Wosi"ion and Attractive Share Buy Back approved in Dec-25 will be completed in the coming days c. 4.0 billion € Sharcho!dcr Rcm»ncra"ion CET1 RATIO (%, BPS) +75 bps +7 bps -40 bps CET1 pro-forma 12.41 % 12.83 -41 bps % +13 bps 12.90 % Target Range 11.5 % - 12.0 % SREP Requirement 8.98 % Mar-26 Results Dividend accrual & AT1 coupons RWAs (constant €) Others 1 Jun-26 New extraordinary SBB program 2 2.0 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. (2) A new €2 billion share buyback programme has been approved, to be executed in several tranches, together with the launch of a first €1 billion tranche. The execution of the remaining €1 billion under this new share buyback programme, as well as its terms and conditions, will be announced once approved by the governing bodies. p. 14 2Q26 EARNINGS Advancing in the Execution of our 6I Transfiorma"ion S"ra"cay OBJECTIVES CLIENTS Smart multimodal advisors Hyper personalization PROCESSES Smart E2E automation New processes definition EMPLOYEES Empower our employees with AI tools APPROACH October 6 th BBVA Strategic Talks 6dop"ion of AI Tools Organization wide access to Gen AI tools and set up of strategic alliances Thc Eiah" Agentic solutions on a top-down agenda Implementation of the bank-wide transformation agenda with very specific and defined initiatives Thc Framc Industrialization A new AI operating model to create, deploy and manage AI agents at scale faster and with full control Ncw 6I Transfiorma"ion »ni" to accelerate transformation across the organization p. 15 2Q26 EARNINGS Gro»p Financia! Goa!s Evo!»"ion ROTE (%, CURRENT €) GOAL c. 22 % AVG. 2025-2028 2025-6M26 avg 20.8 % TBV + DIV PER SH. (%, CURRENT €) GOAL Mid-"ccns CAGR 2024-2028 CAGR 2024-6M26 15.5 % 18.4 % ex- SBB C/I RATIO (%, CURRENT €) 40 % 37.8 % 6M26 GOAL c. 35 % 2024 2025 2026 2027 2028 NET ATTRIBUTABLE PROFIT (CURRENT €) GOAL c. € 48 Bn CUMULATIVE 2025-2028 € 16.6 Bn CUM. 2025-6M26 Aligned with plan p. 16 REST OF BUSINESS B»sincss 6rcas SPAIN MEXICO TURKEY SOUTH AMERICA 2Q26 EARNINGS BUSINESS AREAS ACTIVITY (€BN, JUN-26) LENDING 1 CUST.FUNDS 1 YoY YoY +7.4 % +10.2 % Demand Deposits +5.1 % Time Deposits +36.7 % Off-BS Funds +12.3 % Spain 2Q26 vs. 2Q25 vs. 1Q26 6M26 vs. 6M25 Net Interest Income 1,689 4.5 2.0 3,346 4.1 Net Fees and Commissions 589 0.8 -2.6 1,194 2.2 Net Trading Income 121 -19.9 -59.0 416 4.8 Other Income & Expenses 94 -21.5 -2.9 191 -8.7 Gross Income 2,493 0.9 -6.0 5,147 3.1 Operating Expenses -835 10.9 -6.6 -1,729 10.3 Operating Income 1,658 -3.6 -5.7 3,417 -0.1 Impairment on Financial Assets -135 -17.1 -18.3 -300 -0.3 Provisions and Other Gains and Losses -18 26.4 -1.4 -37 -8.5 Income Before Tax 1,505 -2.4 -4.5 3,080 0.0 Income Tax -427 -0.8 -11.0 -907 -5.1 Net Attributable Profit 1,077 -3.0 -1.6 2,172 2.3 Mortgages +3.1 % Consumer + Credit Cards +10.1 % Very small businesses +1.7 % Mid-size companies +7.7 % Corporate + CIB +13.5 % Public sector +6.4 % Others +20.3 % KEY RATIOS CUSTOMER SPREAD (%) ASSET QUALITY RATIOS (%) Yic!d on !oans Covcraac COST TO INCOME (%) (YtD) 33.6 C»s"omcr NWW sprcad Ra"io Cos" ofi dcposi"s CoR (Y"D) RoRWA (%) (YtD) 3.7 2Q25 1Q26 2Q26 2Q25 1Q26 2Q26 PROFIT & LOSS (€M) Δ (%) Δ (%) Performing loans and Cust.Funds under management, excluding repos. ー Strong loan growth (+3.3% QoQ), led by robust consumer and enterprise lending. ー Solid NII , driven by loan growth and disciplined pricing, with customer spread widening by 3 bps QoQ. ー Fee income moderated on lower CIB-related fees, while asset management and credit card fees maintained solid momentum. ー Disciplined cost management, with operating expenses increasing by +5.3% YoY, excl. extraordinary items 2 . ー Very solid asset quality, supported by stable underlying trends and a positive impact from a portfolio sale on impairments. 1Q26 voluntary redundancies cost and positive VAT-related one-offs in 2Q25 and 2Q26. p. 18 2Q26 EARNINGS BUSINESS AREAS PROFIT & LOSS (CONSTANT €M) Δ Constant (%) Δ Current Δ Constant (%) 2Q26 vs. 2Q25 vs. 1Q26 6M26 (%) vs. 6M25 vs. 6M25 Net Interest Income 3,247 8.9 2.7 6,409 16.3 8.6 Provisions and Other Gains and Losses -8 -63.0 Income Before Tax 2,114 12.7 Income Tax -600 14.4 Net Attributable Profit 1,514 12.1 -3.0 -17 1.6 4,195 -2.6 -1,215 3.4 2,979 -50.6 17.4 21.5 15.8 -53.8 9.7 13.5 8.2 ACTIVITY (JUN-26; CONSTANT €BN) LENDING 1 CUST.FUNDS 1 YoY +9.9 % YoY +10.6 % Mortgages +7.3 % Demand Deposits +4.9 % Time Deposits +19.6 % Other Commercial +10.0 % Off-BS Funds +15.2 % Public sector +6.5 % Mcxico Net Fees and Commissions 661 8.3 1.1 1,314 14.9 7.3 Net Trading Income 197 0.5 -31.6 485 21.3 13.3 Other Income & Expenses 150 -12.0 -27.1 356 21.6 13.7 Gross Income 4,255 7.5 -1.3 8,565 16.6 8.9 Consumer +11.7 % Operating Expenses -1,305 8.5 -1.9 -2,634 16.8 9.1 Credit Cards +12.2 % Operating Income 2,951 7.1 -1.0 5,931 16.4 8.8 SMEs +12.1 % Impairment on Financial Assets -829 -3.3 -7.0 -1,719 15.7 8.1 KEY RATIOS CUSTOMER SPREAD (%) ASSET QUALITY RATIOS (%) Yic!d on !oans Covcraac COST TO INCOME (%) (YtD) 30.8 C»s"omcr NWW sprcad Ra"io Cos" ofi dcposi"s CoR ( Y"D) RoRWA (%) (YtD, CONSTANT) 6.9 2Q25 1Q26 2Q26 2Q25 1Q26 2Q26 Performing loans and Cust.Funds under management, excluding repos, according to local GAAP. ー Solid loan growth (+2.1% QoQ) , with balanced contributions from retail (+2.2% QoQ) and wholesale (+2% QoQ) portfolios. ー Strong core revenues (+2.4% QoQ), driven by solid NII growth on the back of robust activity and higher fee income . ー Outstanding efficiency ratio of 30.8% in 6M26 ー Sound risk metrics, with CoR at 326 bps , reflecting healthy underlying credit performance. p. 19 2Q26 EARNINGS BUSINESS AREAS (CURRENT €M) Net Interest Income 2Q26 1,031 vs. 2Q25 70.3 vs. 1Q26 -8.0 6M26 2,152 vs. 6M25 64.7 LENDING 2 Net Fees and Commissions 638 25.4 12.9 1,202 13.7 Net Trading Income 73 -24.7 -49.7 220 -0.7 Other Income & Expenses -82 17.7 -31.7 -201 14.0 T»rkcy PROFIT & LOSS Δ Current (%) Δ Current (%) Of which: Net Monetary Position (NMP) loss -229 54.6 -21.6 -521 5.1 Net Attributable Profit 269 6.1 2.5 532 29.1 ACTIVITY (JUN-26; CONSTANT €BN; BANK ONLY) CUST.FUNDS 2 YoY 1 FC +6.4 % +41.6 % YoY 1 FC Time +13.9 % +70.2 % FC Demand +6.5 % +38.8 % TL Time +41.8 % TL Demand +24.4 % CPI linkers revenues 151 38.7 -31.7 372 -11.3 Gross Income 1,660 45.4 -3.0 3,372 40.0 TL Commercial +31.5 % Operating Expenses -690 37.3 1.7 -1,369 26.8 Operating Income 970 51.8 -6.1 2,004 50.8 Impairment on Financial Assets -333 92.5 -5.4 -685 68.2 Provisions and Other Gains and Losses -15 -217.4 -2.9 -31 n.s. Income Before Tax 622 29.9 -6.6 1,288 38.1 TL Retail +46.5 % Income Tax -302 70.2 -14.6 -657 48.4 Non-controlling Interest -50 6.2 2.7 -99 27.5 FC (foreign currency) evolution excluding FX impact. KEY RATIOS CUSTOMER SPREAD (%) ASSET QUALITY RATIOS (%) FC Covcraac COST TO INCOME (%) (YtD) 40.6 NWW Ra"io TW (Y"D) CoR RoRWA (%) (YtD, CURRENT) 1.7 2Q25 1Q26 2Q26 2Q25 1Q26 2Q26 Performing loans and deposits under management, excluding repos, according to local GAAP. ー Limited loan growth during the quarter, both in TL and Foreign Currency loans, constrained by regulatory growth caps. ー NII impacted by TL customer spread compression in a higher-rate environment, as deposits reprice faster, partially offset by activity growth. ー Strong fee income primarily driven by payments fees with additional contribution from insurance and asset management fees. ー CoR at 236 bps YtD, still reflecting elevated provisioning requirements in the retail portfolios. Note: Inflation rate 7.0% in 2Q26 vs 10.0% in 1Q26 and 6.0% in 2Q25. p. 20 2Q26 EARNINGS BUSINESS AREAS So»"h 6mcrica ACTIVITY (JUN-26; CONSTANT €BN) LENDING 1 CUST.FUNDS 1 YoY +14.4 % YoY +18.0 % Colombia +10.7 % Colombia +8.3 % Peru +14.4 % Peru +9.7 % Argentina +45.8 % Argentina +45.9 % Other +15.3 % Other +12.8 % 2Q26 vs. 2Q25 vs. 1Q26 6M26 vs. 6M25 Colombia 97 142.7 24.4 175 140.4 Peru 113 57.8 38.8 194 25.3 Argentina 46 13.9 69.9 73 -19.2 Other ¹ 52 1.5 -17.2 114 15.9 NET ATTRIBUTABLE PROFIT (CURRENT €M) Δ Current (%) Δ Current (%) South America 308 51.7 23.6 556 33.6 (1) Other includes BBVA Forum (Chile), Venezuela, Uruguay and Brazil. KEY RATIOS CUSTOMER SPREAD (%) COST OF RISK (YtD, %) COST TO INCOME COL (%) (YtD) 41.5 PER RoRWA (%) (YtD, CURRENT) ARG 2.9 2Q25 1Q26 2Q26 2Q25 1Q26 2Q26 (1) Performing loans and Cust.Funds under management, excluding repos. CO ー L Solid NAP, driven by strong gross income growth (+7.4% QoQ) Higher NII, supported by activity (+3.3% QoQ constant €), and stronger fees. CoR remained broadly stable at 202 bps YtD. PE ー R Strong NAP, underpinned by higher NII (+2.1% QoQ), reflecting solid activity growth (+3.3% QoQ constant €) . Lower impairments, with CoR declining to 125 bps YtD . AR ー G Solid NAP supported by higher gross income, driven by strong core revenues. CoR stabilized , although it remained elevated. Note: Inflation rate ARG: 6.8% in 2Q26 vs 9.4% in 1Q26 and 6.0% in 2Q25. . p. 21 2Q26 EARNINGS BUSINESS AREAS Rcs" ofi b»sincss ACTIVITY (JUN-26; CONSTANT €BN) LENDING 1 YoY +52.5 % CUST.FUNDS 1 (CONSTANT €M) YoY +55.7 % PROFIT & LOSS Δ (%) Δ (%) Net Interest Income 2Q26 274 vs. 2Q25 44.7 vs. 1Q26 17.2 6M26 507 vs. 6M25 36.0 Net Fees and Commissions 190 32.1 -5.6 391 41.5 Net Trading Income 137 80.4 -15.4 300 66.5 Other Income & Expenses -1 n.a. n.a. -1 -153.1 Gross Income 600 46.5 0.4 1,197 44.1 Operating Expenses -258 33.4 7.6 -498 31.9 Operating Income 341 58.3 -4.5 699 54.3 Impairment on Financial Assets 0 -102.0 -100.7 -51 39.5 Provisions and Other Gains and Losses 8 -259.7 -285.1 4 -291.0 Income Before Tax 350 81.9 15.9 652 57.3 Income Tax -79 61.1 21.3 -143 48.4 Net Attributable Profit 271 89.0 14.5 508 60.0 CIB US +63.9 % CIB Europe/UK +39.5 % CIB +46.8 % CIB Asia +69.4 % Digital Banks Other +91.9 % +28.4 % Rest of business includes mainly CIB business in US, Europe & Asia and digital banks (Italy, Germany). Other +4.6 % d Cust.Funds u (1) Performing loans an nder management, excluding repos. (1) Performing loans and Cust.Funds under management, excluding repos. KEY RATIOS ASSET QUALITY RATIOS (%) Covcraac NWW Ra"io COST TO INCOME (%) (YtD) 41.6 RoRWA (%) (YtD, CONSTANT) 2.1 (Y"D) CoR 2Q25 1Q26 2Q26 ー Strong revenue growth, supported by robust lending activity. Core revenues increase by 6.9% QoQ. ー Solid NTI, following a exceptionally strong Q1. ー Positive operating jaws maintained despite continued investment to support business growth. ー Sound asset quality metrics. CoR declined to 14 bps YtD. p. 22 2Q26 EARNINGS Takcaways Outstanding Value Creation and Profitability metrics Net Attributable Profit continues its excellent trajectory Strong Core revenues evolution on the back of exceptional activity growth Advancing in the execution of our Strategy with a particular focus on AI Transformation Continued CET1 capital generation On track to achieve our ambitious 2025-2028 Goals Upda"cd MEXICO 2026 O»"!ook GROUP ROTE Loans: around 10 % growth NII: high single digit growth CoR: below 335 bps around 21 % TURKEY SOUTH AMERICA Improved Guidance CoR: around 220 bps Gross Income: high teens growth Worsened Guidance p. 23 6nncx 1 2 3 P&L Accounts by Business Area CIB Business 4 5 Customer Spread by Country Stages Breakdown by Business Area 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 10 Medium-Term Strategic Objectives 1 W&W 6cco»n"s by B»sincss 6rca Corporate Center Turkey (hyperinflation adjustment) Argentina (hyperinflation adjustment) Colombia Peru 2Q26 EARNINGS ANNEX - P&L ACCOUNTS BY BUSINESS AREA Corpora"c Ccn"cr Δ (%) Δ (%) PROFIT & LOSS (€M) 2Q26 vs. 2Q25 vs. 1Q26 6M26 vs. 6M25 Net Interest Income -119 27.1 44.4 -202 10.9 Net Fees and Commissions -49 44.4 92.1 -74 35.8 Net Trading Income -115 -21.7 -2.6 -232 173.2 Other Income & Expenses 60 10.7 233.3 78 25.6 Gross Income -223 1.3 7.3 -430 65.7 Operating Expenses 1 -157 42.9 -35.3 -399 32.9 Operating Income -379 15.1 -15.7 -829 48.1 Impairment on Financial Assets 1 n.s. -71.9 5 n.s. Provisions and Other Gains and Losses 0 n.s. n.s. 2 -87.9 Income Before Tax -379 20.8 -14.5 -822 51.9 Income Tax -5 n.s. n.s. 139 -12.7 Non-controlling Interest -7 205.3 -4.6 -14 56.6 Net Attributable Profit -391 100.5 28.0 -696 78.5 (1) Expenses growth (in current €): -2.2% YoY excl. non-recurring items: Voluntary redundancies in 1Q26 and VAT payment regularization. p. 26 2Q26 EARNINGS ANNEX - P&L ACCOUNTS BY BUSINESS AREA T»rkcy - Hyperinflation Adjustment PROFIT & LOSS (€M) Net Interest Income (reported) (1) 2,152 adjustment (2) 63 Ex.Hyperinflation 2,089 Net Fees and Commissions 1,202 32 1,170 Net Trading Income 220 87 133 Other Income & Expenses -201 -658 457 Gross Income 3,372 -476 3,848 Operating Expenses -1,369 -94 -1,275 Operating Income 2,004 -570 2,574 Impairment on Financial Assets -685 -22 -663 Provisions and Other Gains and Losses -31 -10 -21 Income Before Tax 1,288 -602 1,890 Income Tax -657 -90 -566 Non-controlling Interest -99 97 -197 Net Attributable Profit 532 -595 1,127 6M26 Hyperinflation 6M26 6M26 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. 27 2Q26 EARNINGS ANNEX - P&L ACCOUNTS BY BUSINESS AREA 6racn"ina - Hyperinflation Adjustment PROFIT & LOSS (€M) Net Interest Income (reported) (1) 1,076 adjustment (2) 38 Ex.Hyperinflation 1,038 Net Fees and Commissions 224 8 216 Net Trading Income 112 -13 125 Other Income & Expenses -424 -286 -137 Gross Income 989 -253 1,242 Operating Expenses -463 -39 -424 Operating Income 526 -292 818 Impairment on Financial Assets -361 -12 -349 Provisions and Other Gains and Losses -7 -2 -5 Income Before Tax 158 -306 465 Income Tax -44 110 -154 Non-controlling Interest -41 67 -108 Net Attributable Profit 73 -129 202 6M26 Hyperinflation 6M26 6M26 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. 28 2Q26 EARNINGS ANNEX - P&L ACCOUNTS BY BUSINESS AREA Co!ombia Δ (%) Δ (%) PROFIT & LOSS (€M CONSTANT) 2Q26 vs. 2Q25 vs. 1Q26 6M26 vs. 6M25 Net Interest Income 318 19.5 5.7 618 21.4 Net Fees and Commissions 45 59.7 14.8 85 53.6 Net Trading Income 29 75.2 13.7 54 20.8 Other Income & Expenses -8 96.6 n.s. -5 -49.2 Gross Income 384 25.2 4.3 751 25.6 Operating Expenses -168 23.4 14.7 -315 16.5 Operating Income 216 26.6 -2.5 437 33.2 Impairment on Financial Assets -100 -5.6 8.5 -192 -12.1 Provisions and Other Gains and Losses 2 n.s. n.s. -1 -46.9 Income Before Tax 118 88.2 -6.0 244 126.4 Income Tax -19 8.0 -57.2 -63 125.9 Non-controlling Interest -3 n.s. 59.0 -5 n.s. Net Attributable Profit 96 116.1 21.1 175 123.5 p. 29 2Q26 EARNINGS ANNEX - P&L ACCOUNTS BY BUSINESS AREA Wcr» Δ (%) Δ (%) PROFIT & LOSS (€M CONSTANT) 2Q26 vs. 2Q25 vs. 1Q26 6M26 vs. 6M25 Net Interest Income 417 13.8 2.6 823 12.7 Net Fees and Commissions 84 11.1 -1.2 169 8.3 Net Trading Income 60 6.6 7.8 115 7.6 Other Income & Expenses -12 100.3 19.0 -22 58.1 Gross Income 549 11.5 2.2 1,085 10.8 Operating Expenses -204 10.7 -1.6 -412 10.8 Operating Income 344 12.0 4.6 673 10.8 Impairment on Financial Assets -54 -34.5 -30.7 -131 -12.2 Provisions and Other Gains and Losses 23 n.s. n.s. 14 147.8 Income Before Tax 313 44.7 29.1 556 19.9 Income Tax -89 47.1 30.3 -157 18.6 Non-controlling Interest -111 37.2 19.2 -205 17.3 Net Attributable Profit 113 50.8 39.5 194 23.9 p. 30 2 CIB B»sincss 2Q26 EARNINGS CIB ANNEX - CIB BUSINESS ACTIVITY (JUN-26; CONSTANT €BN) LENDING 1 CIB Asia 20.4 CIB Spain 26.5 CIB Spain CIB Mexico CIB Europe/UK 30.1 153.4 CIB Mexico 19.9 CIB Turkey CIB South America CIB U.S. YoY +38.5 % +26.5 % +18.5 % +32.4 % +8.4 % +63.9 % CIB U.S. 32.5 CIB Turkey 15.0 CIB SA 8.9 CIB Europe/UK CIB Asia +39.5 % +69.4 % 2Q26 vs. 2Q25 vs. 1Q26 6M26 vs. 6M25 Net Interest Income 1,100 25.6 8.0 2,119 23.6 Net Fees and Commissions 422 23.6 -10.8 894 27.1 Net Trading Income 564 31.8 -21.0 1,278 15.8 Other Income & Expenses -20 67.0 -2.0 -40 64.3 Gross Income 2,066 26.5 -5.5 4,251 21.6 Operating Expenses -568 31.7 6.7 -1,101 24.7 Operating Income 1,498 24.7 -9.4 3,150 20.5 Impairment on Financial Assets 6 -93.1 n.s. -9 n.s. Provisions and Other Gains and Losses 4 n.s. n.s. 5 -55.9 Income Before Tax 1,508 18.0 -8.0 3,146 17.4 Income Tax -440 17.9 -4.5 -902 18.3 Net Attributable Profit 971 18.9 -10.4 2,054 18.2 PROFIT & LOSS (CURRENT €M) Δ Current(%) Δ (%) Note: CIB excludes the application of hyperinflation accounting and the Group's wholesale business in Venezuela. (1) Performing loans under management, excluding repos. Note: CIB U.S., CIB Europe/UK and CIB Asia are reported within the Rest of Business unit. KEY RATIOS ASSET QUALITY RATIOS (%) Covcraac COST TO INCOME (%) (YtD) 25.9 RoRWA (%) 2 (YtD, NWW Ra"io CONSTANT) 3.7 (Y"D) CoR 2Q25 1Q26 2Q26 p. 32 CROSS BORDER BUSINESS CROSS BORDER REVENUES 6M26 € ≃ +21 % YoY 1.3 bn CROSS-BORDER REVENUES O/ TOTAL CLIENT REVENUES c. 40 % (2) Excluding Turkey and Argentina 3.0%. 3 C»s"omcr Sprcad by Co»n"ry 2Q26 EARNINGS ANNEX - CUSTOMER SPREAD BY COUNTRY AVERAGE 2Q25 3Q25 4Q25 1Q26 2Q26 Spain 3.05% 2.88% 2.80% 2.82% 2.85% Yield on Loans 3.66% 3.45% 3.39% 3.39% 3.43% Cost of Deposits -0.60% -0.57% -0.59% -0.58% -0.58% Mexico MXN 11.96% 11.98% 12.01% 11.74% 11.61% Yield on Loans 14.71% 14.42% 14.26% 14.02% 13.84% Cost of Deposits -2.75% -2.45% -2.25% -2.28% -2.23% Mexico FC 1 5.25% 5.24% 4.98% 4.79% 4.54% Yield on Loans 6.14% 6.21% 5.89% 5.69% 5.54% Cost of Deposits -0.90% -0.97% -0.91% -0.90% -1.00% Turkey TL 1.04% 1.00% 1.68% 2.02% 0.38% Yield on Loans 37.56% 36.53% 34.90% 33.72% 33.94% Cost of Deposits -36.53% -35.53% -33.23% -31.70% -33.56% Turkey FC 1 7.90% 7.88% 7.57% 7.35% 7.18% Yield on Loans 8.31% 8.23% 7.83% 7.57% 7.57% Cost of Deposits -0.41% -0.35% -0.27% -0.22% -0.39% Argentina 16.73% 14.02% 17.24% 17.41% 17.13% Yield on Loans 30.98% 32.37% 34.57% 30.40% 27.28% Cost of Deposits -14.25% -18.35% -17.33% -12.98% -10.16% Colombia 5.64% 5.81% 6.11% 6.02% 6.01% Yield on Loans 12.26% 12.23% 12.30% 12.49% 13.17% Cost of Deposits -6.62% -6.42% -6.19% -6.47% -7.16% Peru 7.22% 7.26% 7.42% 7.62% 7.47% Yield on Loans 9.02% 9.02% 9.17% 9.28% 9.09% Cost of Deposits -1.80% -1.76% -1.76% -1.65% -1.61% C»s"omcr Sprcads: Quarterly Evolution (1) FC: Foreign Currency. p. 34 2Q26 EARNINGS ANNEX - CUSTOMER SPREAD BY COUNTRY AVERAGE 6M25 6M26 Spain 3.12% 2.83% Yield on Loans 3.75% 3.41% Cost of Deposits -0.63% -0.58% Mexico MXN 11.98% 11.67% Yield on Loans 14.85% 13.93% Cost of Deposits -2.87% -2.25% Mexico FC 1 5.34% 4.66% Yield on Loans 6.19% 5.61% Cost of Deposits -0.84% -0.95% Turkey TL 1.24% 1.14% Yield on Loans 37.66% 33.83% Cost of Deposits -36.42% -32.69% Turkey FC 1 7.87% 7.26% Yield on Loans 8.23% 7.57% Cost of Deposits -0.36% -0.31% Argentina 16.94% 17.25% Yield on Loans 30.52% 28.78% Cost of Deposits -13.58% -11.53% Colombia 5.48% 6.01% Yield on Loans 12.25% 12.83% Cost of Deposits -6.78% -6.82% Peru 7.23% 7.55% Yield on Loans 9.03% 9.18% Cost of Deposits -1.80% -1.63% C»s"omcr sprcads: YtD evolution (1) FC: Foreign Currency. p. 35 4 S"aacs Brcakdown by B»sincss 6rca 2Q26 EARNINGS ANNEX - STAGES BREAKDOWN BY BUSINESS AREA S"aacs Brcakdown by Business Areas CREDIT RISK BREAKDOWN BY AREA (JUN-26, € M) Gross Accumulated Gross Accumulated Gross Accumulated BBVA GROUP Exposure impairments SPAIN Exposure impairments MEXICO Exposure impairments Stage 1 555,789 2,672 Stage 2 36,990 2,109 Stage 3 15,976 8,747 Stage 1 209,238 521 Stage 2 14,906 565 Stage 3 6,595 3,614 Stage 1 104,022 1,478 Stage 2 7,713 680 Stage 3 3,181 1,595 TURKEY SOUTH AMERICA REST OF BUSINESS Stage 1 68,162 220 Stage 2 7,301 415 Stage 3 3,243 1,797 Stage 1 57,178 410 Stage 2 4,709 314 Stage 3 2,564 1,569 Stage 1 121,808 43 Stage 2 2,360 135 Stage 3 392 171 COLOMBIA PERU ARGENTINA Stage 1 19,545 111 Stage 2 1,724 133 Stage 3 819 450 Stage 1 23,047 217 Stage 2 1,984 125 Stage 3 867 567 Stage 1 9,096 34 Stage 2 649 34 Stage 3 665 437 p. 37 5 6WCO Wor"fio!io, NII Scnsi"ivi"y and WCRs & NSFRs 2Q26 EARNINGS ANNEX - ALCO PORTFOLIO, NII SENSITIVITY AND LCRS & NSFRS EURO ALCO PORTFOLIO MATURITY PROFILE (€ BN) 6WCO Portfolio South America 0.2 7.1 1.9 years Turkey 4.9 3.5 3.0 years Mexico 7.5 11.6 3.8 years Euro 1 47.3 7.5 3.1 years Spain 30.2 3.2 Italy 6.2 2.7 Rest 10.9 1.6 ALCO PORTFOLIO BREAKDOWN BY REGION (€ BN) Amort Cost (HTC) JUN-26 (€ BN) Fair Value (HTC&S) (duration (€ BN) incl. hedges) EURO ALCO YIELD (JUN-26, %) + 3.0 % (1) Figures exclude SAREB senior bonds (€3.6bn as of Jun-25, Mar-26 and Jun-26) p. 39 2Q26 EARNINGS ANNEX - ALCO PORTFOLIO, NII SENSITIVITY AND LCRS & NSFRS NII Scnsi"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 +/- c. 4 % MEXICO +/- 2.4 % Note: NII sensitivities to parallel interest rates movements as of Jun'26, using our dynamic internal model. Mexico NII sensitivity for +/-100 bps breakdown: MXN sensitivity +/-1.6%; USD sensitivity +/-0.8%. p. 40 Attention : This is an excerpt of the original content. To continue reading it, access the original document here .

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