BBVA : Presentación Renta Fija 3T25

3Ǫ25 Fixed Income Presentation

September, 2025

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BBVA

3Q25 FIXED INCOME PRESENTATION

BBVAʼs global reach and financial performance

BBVA's GLOBAL PRESENCE

SEPTEMBER 2025

FINANCIAL HIGHLIGHTS

SEPTEMBER 2025

Countries

>25

Employees

126,997

Net Attributable Profit 9M25

7,978 M€

CET1 ratio FL

13.42 %

Branches

5,657

Active Customers

80.1M

Total assets

813.063 M€

Deposits from customers

471.364 M€

Loans and advances to customers (gross) 447,901 M€

DIGITAL CAPABILITIES

SEPTEMBER 2025

SUSTAINABLE BUSINESS

(CHANNELING)

CUSTOMERS DIGITAL SALES

NEW sustainable

Channeled 9M25

Mobile Clients

61.6 M

Units

79 %

PRV1

59 %

business target 2025-29

97 BN€

(1) Product Relative Value as a proxy of lifetime economic representation of units sold.

€700Bn

Channeled 2018-2024 304 BN€

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3Q25 FIXED INCOME PRESENTATION

Diversified model with leading franchises

in attractive markets

SPAIN	#3	14.1%
MEXICO	#1	25.6%
TURKEY	#2	19.9%
COLOMBIA	#4	11.0%
PERU	#2	21.8%

DIVERSIFICATION UNDER A DECENTRALIZED MODEL

TOTAL ASSETS 1

SEP'25

Rest of Business 9%

South America 9%

Turkey 10%

Spain 51%

Mexico 21%

GROSS INCOME 1 SEP'25

Rest of Business 5%

South America 14% Spain 27%

Turkey 14%

Mexico 40%

MPE: Self-sufficient subsidiaries in terms of liquidity and funding

(1) Figures exclude the Corporate Center.

STRONG MARKT POSITION

RANKING AND LOAN MARKET SHARE (%)2

ARGENTINA

#2

11.4%

(2) Latest available information. Ranking among peer group. Turkey among private banks, bank-only according to BRSA weekly data. Colombia bank-only.

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3Q25 FIXED INCOME PRESENTATION

Profitable business mix

LOANS AND ADVANCES TO CUSTOMERS

(PERFORMING LOANS UNDER MANAGEMENT EX-REPOS) SEP-25

24% CIB 1

22% Mortgages

51%

43%

Retail

28% Other commercial

Commercial

6% Public Sector

18% Consumer & Credit Cards

3% Others

(mainly self-employed)

Profitable lending mix

(1) Excluding Venezuela

DEPOSITS FROM CUSTOMERS

(CUSTOMER DEPOSITS UNDER MANAGEMENT EX-REPOS) SEP-25

26% Time Deposits

74%

Demand Deposits

Stable, diversified and transactional deposit base

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3Q25 FIXED INCOME PRESENTATION

Proving track record ofi solid financial returns

STRONG PRE-PROVISION PROFIT AND BEST-IN-CLASS EFFICIENCY OUTPERFORMING ON

PROFITABILITY

PRE-PROVISION PROFIT / RWA

BBVA: 2021-9M25, ANNUALIZED, % PEERS: 2021-6M25, %

2021 2022 2023 2024 2025

EFFICIENCY RATIO

BBVA: 2021-9M25, % PEERS: 2021-6M25, %

2021 2022

2023 2024

2025

ROTE

BBVA: 2021-9M25, % PEERS: 2021-6M25, %

2021 2022 2023 2024

2025

(1) European Peer Group: BARC, BNPP, CABK, CASA, DB, HSBC, ING, ISP, LBG, NDA, SAN, SG, UCG, UBS. UBS excluded from 2021-2024.

BBVA

PEER GROUP AVR 1

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3Q25 FIXED INCOME PRESENTATION

Sound fiundamentals

SOUND ASSET QUALITY METRICS

NPL Ratio

(%)

Coverage Ratio

(%)

Cost of Risk

YtD(%)

Sep-24 Dec-24 Mar-25 Jun-25 Sep-25

STRONG CAPITAL

CET 1 FULLY-LOADED

(%)

13.42%

Target Range

11.5%-12.0%

CET 1

Requirement

9.13%1

Sep-25

COMFORTABLE LIQUIDITY

NSFR Group

128%

LCR Group

174%2

Prudent and proactive risk management

1. Considering the last official updates of the countercyclical capital buffer and systemic risk buffer, calculated on the basis of exposure as of June 30, 2025.

2. 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 is 148%.

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3Q25 FIXED INCOME PRESENTATION

Record Customer Acquisition driven by digital

NEW CUSTOMERS1

(BBVA GROUP, MILLION; % ACQUISITION THROUGH DIGITAL CHANNELS)

8.6

8.3

8.5

8.7

TOTAL

5.3

6.5

Digital

66%

Digital

33%

Active

Clients2

57.4 M

80.1 M

(1) Gross customer acquisition through own channels for retail segment. Excludes the US business sold to PNC for comparison purposes. (2) Total active clients as of end of September 20 and September 25.

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3Q25 FIXED INCOME PRESENTATION

Sustainability as a Business Opportunity

and a growth driver

SUSTAINABLE FINANCE BY CUSTOMER SEGMENT

(€ BN)

SUSTAINABLE BUSINESS

(CHANNELING, € BILLION)

97

11.1

YoY Sustainable

66

5.5

23.7

36.5

36.2

49.7

Retail Enterprises CIB

+48%

+102%

+52%

+36%

business target 2025-29

€700Bn

9M24 9M25

Note: Sustainable business channeling is considered to be any channeling of financial flows, cumulatively, in relation with activities, clients or products considered to be sustainable or promoting sustainability in accordance with internal standards inspired by existing regulations, market standards and best practices. The foregoing is understood without prejudice to the fact that said channeling, both at an initial stage or at a later time, may not be registered on the balance sheet. To determine the financial flows channeled to sustainable business, internal criteria is used based on both internal and external information. Figures exclude BBVA Asset Management and Fundación Microfinanzas BBVA activity.

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