Slides
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BBV Aʼs AI October, 2026 Strategy
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Antonio Bravo HEAD OF AI TRANSFORMATION
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Index Why BBV A can lead An opportunity to transform banking Final remarks 1 2 3
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An opportunity to transform banking01
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AI Can Transform Every Part of Banking Customer journey Onboarding Risk Assessment Servicing & Advice Operations Engagement - ID verification - KYC models - Next best offer models - Credit scoring models - Credit risk analysis tools - Behavioral risk models - Customer assistant - Handling of customer queries - Pricing & product models - Document processing - Customer personalization - Fraud / AML detection models - Customer lifetime value models - Personalized loyalty campaigns - Churn models DATA & ANAL YTICAL MODELS HAVE TRADITIONALL Y BEEN KEY ENABLERS ACROSS THE BANKING VALUE CHAIN
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AI Expands what Banking Can Do Broader reach, deeper engagement More efficiency and client satisfaction Higher productivity, stronger commitment NEW STANDARD IN VALUE PROPOSITION NEW OPERATING MODEL NEW WAYS OF WORKING AI brings abundance to banking, removing bottlenecksand creating a competitive edge for first movers Personalized Proactive 24/7 advice Clients empowered, better pricing Faster time to market Fewer errors More control Better insights for decisions Empowered with AI Strategising & supervising vs. executing Focus on higher value work CLIENTS PROCESSES EMPLOYEES
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Why BBV A can lead02
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#1 in peer’s group 8.6% 2019 19.3% RoTE Efficiency Outstanding profitability and leading efficiency 2025 Innovation Has Always Been in BBV Aʼs DNASuccessful Track-Record in Digitization New customers, BBVA Group, % acquired through digital 7.1 2019 11.5TOTAL (Mn) DIGITAL Gross customer acquisition through own channels for retail segment. Excluding the US business sold to PNC for comparison purposes. Peers: Spain: ING, SAN, SAB, CBK, UNI; Mexico: BNT, BMX, SAN, HSBC; Turkey: ISB, AKB, YAPI; Argentina: GAL, HSBC, SAN, MACRO; Colombia: BOGOTA, DAV , BANCOL; Peru: BCP , INT, SCOTIA; Uruguay: ITAU, SAN, SCOTIA Leading NPS position in all countries # 1 +9 p.p. NPS vs. 2019 BBV A Group Pioneer in digitization Best customer experience 2025 21% 66% # 2 # 3 Our successful performance is underpinned by innovation 47% 39% Peers: Europe: BARC, BNPP , CABK, CASA, DB, HSBC, ING, ISP , LBG, NDA, SAN, SG, UCG, UBS
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ONE GLOBAL DATA PLATFORM for all countries LARGE DATA SET ready to be leveraged by agents CLOUD NATIVE ARCHITECTURE enabling faster feature integration Strong Foundations for AI at Scale GLOBAL DATA AVAILABILITY Leveraging Cloud, to fully harness AI in a cloudified, real-time ready environment ADA TOP PARTNERS TO ACCELERATE OUR STRATEGY Access to best-in-class talent, technology knowledge and model excellence SPECIALIZED TEAMS DEPLOYED ACROSS THE ORGANIZATION DATA SPECIALISTS, DATA SCIENTISTS & MLEs3 4,011 (1) Spain data includes CIB and Holding (2) Includes Peru, Colombia, Argentina, Uruguay, Venezuela & Chile (3) Machine Learning Engineers MEXICO 1,228 SPAIN1 1,352 TURKEY 634 SOUTH AMERICA2 797 ACCESS TO AI TOOLS for all employees TOP AI PLAYERS involved in the CO-CREATION of agents THIRD PARTY AGENTS testing and piloting best-in-class agents
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AI Is a Bank-Wide Strategic Priority A top down transformation agenda across all areas TO CAPTURE AI’S POTENTIAL A transformation agenda well beyond technology Radical client perspective Sustainability AI, Data & T echEnterprises Value creation T eam Co-designs and coordinates the new management model, where people and intelligent agents work together AI Transformation sits at the highest executive level, bringing together BBVA’s data and critical AI capabilities
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A “DATA-RICH” COMPANY Unlocking the power of real-time, reliable data AI ARCHITECTURE & TECH CAPABILITIES The bank’s agentic operating system: where intelligent agents come to life SOFTWARE DEVELOPMENT Acceleration of the entire software lifecycle AI FOR EVERY EMPLOYEE AI Alter Ego for each employee to maximize impact REDESIGN BANK’S PROCESSES Enhanced productivity & customer experience AI RISK MANAGEMENT Faster and better-informed decisions with up-to-date information and smart risk engines PERSONAL ADVISOR (BLUE) 24/7, personalized multimodal AI agent AI BANKER Better insights. More time with customers 7 8 1 3 4 62 5 Clients Processes Employees The Eight - Our 1st Bank Wide Agentic Agenda
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c.90% Successful resolution rate in pilot voice interactions (C.Center) >50% of in-app chat interactions between clients and their relationship manager filtered by BlueNetwork workload is shifting towards higher-value interactions Better customer experience Faster processes More productive teams (1) ChatGPT and Gemini licenses First agents deployed are reducing the time to answer customers c.80% Reduction in the time to register customer claims c.30% Reduction in the time to produce Enterprise Financial Programs AI tools are reaching broad usage and improving productivity 2.4h Saved per user/week1 75% Employees recurrently using the tools1 +28% Increase in developers productivity Early Deployments Show Tangible Benefits
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Our Scale Creates a Significant Opportunity 50 M monthly calls 5-8 min Average handling time Contact Centers Bankers Processes c.50 % of client-facing time spent on servicing activities 10 K FTEs in Banking Ops 150 M Operations processed annually Developers 12 K Developers 75 K Features per year WholesaleBankers RetailBankers Clients Processes Employees 2.2 K 37 K
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Scaling Deployment through 2027 Clients - Already available for Friends & Family - Gradual rollout to retail & commercial customers in SP & MX in 2027 AGENTIC BLUE - Client pilots across markets; Peru already in production, Mexico in Q4 2026, others in 2027 CONTACT CENTER - Already deployed in core markets - New features to expand capabilities in 2027 AI RETAIL BANKER - AI Banker capabilities already live at scale across Commercial and CIB - 2027: scaling differentiated client value and pitch-building across Commercial and CIB AI WHOLESALE BANKER - 100% deployment to risk analysts of CIB and Commercial segments in 2026 and 2027 respectively RISK AI PROCESSES - AI agents already across key processes, with proven impact in Claims, Recoveries and Financial Crime SOFTWARE DEVELOPMENT ALTER EGO - Global agents already in use coding & testing - Secure enterprise AI, skills and agents are already live at scale, powering daily work across BBVA Processes Employees - Scale reusable AI capabilities across processes and countries, while beginning AI-first redesign of selected E2E processes - Pilots in the design phase for selected projects, followed by a phased rollout in 2027 - Agents will evolve into personal Alter Egos and area agents that redesign end-to-end processes in 2027 - AI Finance agents across Liquidity management (ALM), Asset mobilization (SRT) and Accounting reconciliations
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From Proving Value to Scaling AI across the Bank The Eight: Build & Operate AI Agents Transform Our Operating Model to Build, Deploy, Manage and Govern AI Agents at Scale Extend Proven Agents at Scale to Maximize AI Value Turning context and instructions into action, with humans in the loop Establish the capabilities, governance and ways of working required Harness AI at scale to transform BBVA 1. PROVE VALUE 2. INDUSTRIALIZE - THE FRAME 3. SCALE IMPACT
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BUILD FASTER by industrializing agent development and a new management model Agents + humans, improving time to market creation SCALE SAFEL Y. Governance and control embedded by design Control is mandatory to scale AI AI SOVEREIGNTY / OPTIONALITY Retain control of core assets while accessing best-in-class third-party tools, models and infrastructure GOALS3 WHAT IS IT? A common OPERATING MODEL that allows to BUILD, DEPLOY, MANAGE & GOVERN AI solutions faster, safely and at scale. ʻThe Frameʼ: Industrializing Agent Development and Management Model The Frame will create a competitive edge to unlock AIʼs abundance: growth and value creation
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GUARDRAILS to keep agents within clearly defined boundaries EVALUATION & MONITORING Agents’ performance assessment and continuous improvement VALUE MANAGEMENT to prioritize and scale use cases that creates value RESILIENCE to ensure operations and business continuity GOVERNANCE & SECURITY embedding permissions, control, accountability and compliance by design CONNECTION TO DATA & SYSTEMS to securely connect agents to BBVA's data and systems TECH ENVIRONMENT to build and deploy agents faster The Frame: Core Components & Playbooks
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THE FRAME Industrialize and scale AI capabilities Remove technical bottlenecks & constraints in resources Build a robust enterprise-wide foundation THE 8 EXECUTION Deliver value through selected use cases Capture key learnings EXPONENTIAL IMPACT A better & stronger bank for clients, employees, shareholders and society FULL PROCESS TRANSFORMATION Redesign customer journeys and build end to end processes From Individual Agentsto End-to-End Transformation
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Tougher competition New competitors that will disintermediate customer & agents relationship (Dots; Muse; Grok Bot; instinct …) AI empowers customers; more information, less friction costs Asset quality AI reshapes industries and business models Transition risk for clients may affect credit quality Cybersecurity and resilience New Cybersecurity vulnerabilities Performance & reliability (e.g. hallucinations) Differentiation & RCP Trusted relationships provide unique customer insights Sound foundation for personalized AI and proactive advice Enhanced risk management Better decisions for customers and the bank based on a better knowledge Integration of AI transition risk into strategic risk discussions Responsible AI Robust governance, with human oversight and controls Secure, reliable and compliant AI deployment KEY RISKS BBVA ’S DIFFERENTIAL APPROACH Managing AI Risks Is Part of Our Strategy
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03 Final Remarks
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Final Remarks BBVA IS UNIQUEL Y POSITIONED TO CAPITALIZE ON AI’S ABUNDANCE: GROWTH AND VALUE CREATION Trust the foundation for personalized advice, built on years of deep client relationships Delivery early tangible results from The Eight, validate our strategic direction Strategy a bank-wide agenda, with The Frame as the foundation for scaling AI safely across BBVA
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ANNEX
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T H E F R A M E Tech Environment WHAT IS IT? A shared, secure environment for building and deploying AI agents using reusable tools and components. WHY IT MATTERS? Enables teams to avoid starting from scratch with every agent, allowing them to bring new solutions from concept to production in a faster, more standardized manner.
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T H E F R A M E Connection toData & Systems WHAT IS IT? The layer that provides the agent with authorized access to BBVA 's data, services, and core systems, enabling it to execute actions within them. WHY IT MATTERS? Allows the agent to securely access BBVA data and context to answer queries with differential value, preventing hallucinations and errors.
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T H E F R A M E Guardrails WHAT IS IT? The rules and boundaries embedded into the agent that determine what it can do, what it cannot do, and when human intervention is required. WHY IT MATTERS? Ensures that the agent always acts within the policies and controls defined by BBVA, helping to build trust and security.
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T H E F R A M E Evaluation & Monitoring WHAT IS IT? The mechanisms that allow for continuous measurement of the agent's quality and behavior, both before and after going into production. WHY IT MATTERS? Enable early detection of anomalies, benchmarking of performance, and continuous learning to systematically enhance agents over time.
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T H E F R A M E Governance &Security WHAT IS IT? The unified framework for identity, permissions, security, traceability, and compliance under which any agent operates. WHY IT MATTERS? Clarifies which agent can perform what actions, using which information, and under whose responsibility, embedding necessary controls by design rather than retrofitting them later.
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T H E F R A M E Resilience WHAT IS IT? The operational capabilities that ensure agents function in a stable and resilient manner when transitioning from testing to live banking processes. WHY IT MATTERS? Instill trust in agents for critical business operations: maintaining service continuity, managing incidents, and responding effectively when failures or changes occur.
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T H E F R A M E Value Management WHAT IS IT? The discipline that connects each agentic solution with its execution costs and expected impacts on value creation throughout the entire product lifecycle. WHY IT MATTERS? Ensures the economic sustainability of scaling solutions and drives prioritization based on quantitative business cases.
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Thank you
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StrategyBBV Aʼs Technology October, 2026
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Carlos Casas HEAD OF ENGINEERING
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Scaling our innovation edge Leading digital transformation Index Key insights 1 2 3
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Leading digital transformation 01
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Our Digital Capabilities Drive Customer Growth Pioneering digitalization 2026 Global Recognition Boosting value creation Best Bank in T echnology in Europe World’s Most Innovative Bank Gross customer acquisition through own channels for retail segment. Excluding the US business sold to PNC for comparison purposes. New customers Mn, BBVA Group, % acquired through digital 20252019 DIGITAL TOTAL 11.5 7.1 59% 2019 79% PRV1 DIGITAL SALES 2025 45% 57% (1) Product Relative Value (PRV) is an indicator of the economic weight represented by the units sold % of global sales acquired through digital 21% 66%
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BEST-IN-CLASS CHANNELS & EXPERIENCES FLEXIBLE, PRODUCTIVE AND SCALABLE PLATFORM GLOBAL SCALE, EXECUTION SPEED AND EFFICIENCY RESILIENT & SECURE TECHNOLOGY INSTALLATION Four Technology Strengths Underpin Our Advantage
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AN APP THAT ANTICIPATES OUR CLIENTS’ NEEDS EMBEDDED FINANCE FX INFINITY Differential features 2019 Daily average rating iOS2 2026 (1) Instant account-to-account payments using a phone number. (2) Spain figures of the App Ranking. (3) August 2026 figures. (4) Sales per month: DIY products Exc. Turkey MOBILE APP RATING EVOLUTION 4.7 3.8 CIB Customization & Adoption Conversational Assistant “Blue” Discreet Mode Financial Coach One-click Bizum1 & Quick payments +14.3% YoY Transactions monthly average Best Bank for Embedded Finance 2025 A new distribution channel within our clients’ business ecosystems STRONG CLIENT ENGAGEMENT3 +5.3% YoY Active Users monthly average +10.1% YoY Sales4 monthly average Best Bank Digital FX Platform 2026 Commercial Driving higher customer retention Transforming and scaling BBVA’s global Foreign Exchange capabilities Better Digital Experiences Deepen Engagement
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3-LAYER PLATFORM Experience Layer Data Layer Application Layer 01 02 03 TRANSFORMATION IMPACT Cost Avoidance ~€200M in 2025 Group Cost to Income 38.8% 2025 A simpler, smarter bank for what's next Informational & Operational data Analytics & Insights Payments Lending Investment Other Services A Scalable Platform Improves Efficiency Assisted Channels Web Mobile App Multichannel Composable Scalable API enablement Next Gen & Multicloud Data & Event driven Reusable We followed a set of architecture principles… … that resulted in differential features Online transactions processed in Cloud by 2025 c.2/3
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GLOBAL SOFTWARE DEVELOPMENT (SWD) Single enterprise source code repository Standard software delivery workflows End-to-end, reliable, real-time observability GLOBAL CLOUD DATA PLATFORM (ADA) Single & Accessible data Faster analytics and insights Greater efficiency & Control A global, unified and secure coding environmentBest transformation project & best technology bank1 Build Once. Deploy Across BBV A. We build once… …and deploy everywhere (1) The Banker recognized ADA as Best Transformation Project at the 2025 T echnology Awards and Best T echnology Bank, alongside Global Finance featuring it among the sector's most innovative initiatives (Link).
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Our clientsʼ trust and the bankʼs protection are our foundation 99.9% Retail Digital service levels2 2023 2026 Relevant incidents1 Average time to recovery Distinctive capabilities have been built, with resilience by design,as a key differentiating element to preserve DELIVERING SEAMLESS CLIENT EXPERIENCE, EVERY DAY Real-time Financial Crime Prevention Digital Channels Availability Secure Development Principles Secure Infrastructure Configuration 2023 2026 Shorter recovery times -52%-53% Less incidents Stronger Resilience Protects Customer Trust (1) Critical, high and very high impact IT incidents with impact on the availability of the service. (2) % of successful requests over total requests for retail web and mobile channel 2025
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Scaling our innovation edge 02
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AI Raises the Bar for Speed and Resilience …driven by AI and the emergence of new computing paradigms CLASSICAL COMPUTING GENERATIVE AI QUANTUM COMPUTING Learning patterns in language to generate new content Bits & logical operations Computing across exponentially vast variables TECHNOLOGY AS A STRATEGIC ENABLER UNPRECEDENTED TECHNOLOGY VELOCITY EXPANDING RISK LANDSCAPE T echnology will play a critical role in banking productivity and differentiation, reshaping how banks operate and serve clients Accelerating innovation will make the ability to rapidly adopt and scale new technologies a key competitive capability Growing complexity and technology dependence will require stronger resilience, cybersecurity and safeguards
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Best-in-class channels & experiences Empower seamless agentic customer experiences, leveraging AI to deliver hyper- personalized interactions and deepen customer engagement OPPORTUNITY Flexible, productive and scalable Platform Global scale, execution speed & efficiency Accelerate development and time-to-market, enabling faster adaptation to customer needs in a rapidly changing environment Resilient & secure technology installation Reinforce customer trust and enable AI to scale safely by anticipating emerging threats through strong core defenses and resilience by design Our Technology Strengths Position Us to Scale AI Enable sustainable growth through a productive and scalable platform, using AI to accelerate transformation and boost productivity
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Connecting AI to Deliver Better Customer Experiences GUARDRAILS to keep agents within defined boundaries EVALUATION & MONITORING Agents’ performance assessment and continuous improvement VALUE MANAGEMENT to prioritize and scale what creates value RESILIENCE to ensure operations and business continuity GOVERNANCE & SECURITY embedding permissions, control, accountability & compliance by design CONNECTION TO DATA & SYSTEMS to securely connect agents to BBVA's data and systems TECH ENVIRONMENT to build and deploy agents faster NEW EXPERIENCES Hyper-personalised Real time & Event driven Context-based Proactive Conversational & seamless ENABLED BY NEW TECHNICAL CAPABILITIES AI channels Connection layer AI agents runtime Agents evaluation Context & Semantic layer Unified data foundation AI platform security AI ops & Reliability THE FRAME
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Modernizing Our Platform to Scale at Lower Unit Cost Clear full platform modernization plan Pragmatic modernization across countries and domains to simplify the technology stack oriented towards value creation Progressive core banking slim downEvolve core banking to a deterministic system of record, where technology constraints are less relevant AI-accelerated transformation Partnering with leading AI players to radically accelerate modernization and shorten transformation timelines Our approach has allowed us to turn a traditionally complex, multi-year transformation into a lean and secured accelerated journey BUSINESS OUTCOME 2021 2025 TRANSACTIONALITY PROCESSING EXPENSES 2029 2021 2025 2029 Online transactions processed in Cloud by 2029 90% Compounding Operating Leverage ILLUSTRATIVE +27% CAGR +5% CAGR
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AI agents orchestrate and execute the SDLC1, while humans remain in control of context, decision-making and supervision to ensure quality, compliance and security Autonomous agentic Software Development Life Cycle to accelerate time-to-market and scale capacity, while embedding quality and security BUSINESS OUTCOME AI Agents Accelerate Software Delivery (1) SDLC: Software Development Life Cycle. Multiply solutions delivery Reduce release cycles from months to weeks Robot #5: ciMa SW Development Design From ideas to construction-ready specifications Build Agent-based construction Operate Continuous optimization Design Idea Analysis Deploy Develop T est Traceability Hypercare Operate
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Scaling AI safely while protecting critical services Ensure service continuity Safeguard critical operations Address AI-enabled cyber threats and financial crime Be quantum ready BUSINESS OUTCOME KEY LEVERS Ensure resilient agentic systems Building common foundation for deploying, managing and governing AI agents safely and resiliently Defend against emerging threatsProtect against increasingly sophisticated AI-enabled attacks (e.g. cyber) Prepare for growing volumes Scale infrastructure for exponentially higher transactionality & computing volumes Preserve trust as the cornerstone of our business Deploy runtime controls, mitigate agent misuse and detect behavioral drift Advanced detection, prevention and AI-enabled defenses Proactive monitoring and capacity management to prevent operational incidents
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Key Insights03
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T echnology is a core differentiating factor and a source of structural moats for BBVA We have a proven track record of building and scaling technology assets that drives value creation The pace of change is accelerating, creating major opportunities, but also new and increasingly complex challenges We have a clear strategy and strong commitments to protect and further strengthen BBVA’s competitive edge Key Insights
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Thank you
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BBV A October, 2026 Spain
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Peio Belausteguigoitia COUNTRY MANAGER BBVA SPAIN
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BBV A: Buildingon a proven strategy to accelerate growth Spain,a compelling market for banking 1 Index BBV A: Leading digital transformation with tangible results 2 3
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Spain, a compelling market for banking 01 Spain, a compelling market for banking
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3.3% 2025 3.0% 2026e SUPPORTED BY POSITIVE FUNDAMENTALS Spain is Outgrowing the European Economy Strong private consumption Continued job creation driven by immigration Solid momentumin investment and service exports GDP GROWTH (Spain vs EU) (%, YoY) EUSpain SPAIN STANDS OUT AS A DYNAMIC ECONOMY WITHIN A STABLE & SOLID EUROPEAN ENVIRONMENT UNEMPLOYMENT RATE 16.1% DEC.20 9.9% JUN.26 TOTAL INVESTMENT 5.8% 2025 4.0% 2026e 2025 2026e 2027e
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2.50% OFFICIAL INT. RATE SEP26 +4.5% YoY CREDIT STOCK JUN 26 -ORS BoS- With a Sound and Resilient Financial System A SOUND FINANCIAL POSITION, THANKS TO LOW INDEBTEDNESS AND STRONG SAVINGS TOTAL DEBT / GDP (%) Large deleveraging enabling current growth (81% LtD) Favorable rate environment supporting credit growth NPLs remain at historically low levels, with contained cost of risk 43% 63% 54% 119% 2.54% SYSTEM NPL RATIO JUN26 Households CommercialsSource: BBVA Research, ECB
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Spain, a compelling market for banking 02 BBV A: Leading digital transformation with tangible results
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BBV A a Market - Leading Franchise in Spain, combining: LEADING DIGITAL TRANSFORMATION More efficient, specialized and convenient relationship model GROWING ABOVE THE MARKET Differentiated growth in high-value segments SUPERIOR FINANCIAL PERFORMANCE Best-in-class profitability and efficiency
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MORE EFFICIENT, SPECIALIZED AND CONVENIENT RELATIONSHIP MODEL IMPROVING CUSTOMER SATISFACTION (NPS) We Transformed our Distribution Model Ahead of the Market Branches -29% Record-high NPS levels across all segments 22,5 % Retail +12.3pp SMEs Commercial 8,8 % +23.9pp 33,8 % +18.1pp 15% → 41% remote managers 38% → 50% specialized sales force Specialization Remotization Better Channels Commercial App NPS Rank #4 → #2 Retail App Highly awarded1 for 7 years ACCELERATING CUSTOMER ACQUISITION Dec 19- Jun 26 Dec 19 - Jun 26 New customers acquisition 442 k 2019 962 k 2025 x2 #2 New customers acquisition Retail Enterprises #1 SMEs new customers acquisition (1) Forrester best european banking app (2017- 2021 & 2024- 2025) 50 k 2019 68 k 2025 x1,3 New customers acquisition
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DIGITAL CAPABILITIES FAST ENGAGEMENT JOURNEY WITH FOCUS ON TRANSACTIONALITY MARKET SHARES (VAR. DIC’20 - JUN’ 26) Key drivers 17% +259 pbs Payrolls (#) 17% +195 pbs Acquiring* (volume) Customer Acquisition is Translating into Deeper, More Valuable Relationships 19% +128 pbs Bizum (P2P payments) 70% new customers become primary within 6 months 3.7x revenue growth by year 5 higher gross margin for primary enterprise clients vs. basic relationship 2x Push notifications to drive engagement and transactional activity. Welcome ‘ journey:’ Introducing our full Range of Services. Seamless fully digital onboarding experience for retail & commercial. “Bank Moving Service” for direct debits.End-to-end online support to set-up a company. SOUND DEPOSIT BASE: Cost of Deposits 0.58% Avg.Peers 0.63% (2Q26) 84% demand deposits (*) Expanded market share with international acquirers Personalized credit limits at onboarding. 16% time deposits Transactional offer for small businesses (POS, income & payments).
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A NEW COMPETITIVE landscape WELL PREPARED TO COMPETE IN A CHANGING COMPETITIVE ENVIRONMENT Full Digital Offering: enhanced value proposition Best in Class Customer Experience Superior digital capabilities combined with human advice, in-branch or remotely. T ailored value proposition addressing each customer’s specific needs. BBV A Maintains its Primary Bank Relationship Despite New Entrants Competition Travel Pack Fx Investments Young Customers Trust & reliability, key features for banking business Strong fraud prevention and cybersecurity standards. Brand recognition. Solid track record.
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Customer Growth Drives Lending Outperformance and a More Profitable Mix MARKET SHARE IN HIGHER VALUE SEGMENTS (DEC 20 VS. JUN 26) COMMERCIAL CONSUMER MORE PROFITABLE MIX 42% 35% 8% Dec-20 35% 11% 38% 10% Jun-26 7% 6% 8% +260 bps +261 bps TOTAL LOANS MARKET SHARE: 14.1% (Jun 26) Other Public Sector Commercial Consumer Mortgages TOTAL LENDING GROWTH Base 100: Dec 20 BBVA +8.4% System +20.6% +1.5% BBVA System Dec20 Jun26Dec24Dec22 Source: Bank of Spain (ORS loans) and BBVA total performing loans 14.4% 16.6%
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SPECIALIZATION & ADVISORY Ensuring profitability on every transaction BEST IN CLASS TRANSACTIONAL MODEL +514 pb Sound growth across all Enterprise Segments (2) Share of clients CIRBE (Central Credit Register of the BoS) short term exposure Best in class CRM & management model tools. Sector-led advisory model for priority segments. CIB capabilities brought to Enterprises. ENHANCED PROCESSES Improving time-to-cash in credit approval processes. 40% of SME clients with proactive credit limits Micro capital planning tools: assessing returns on a loan by loan basis. ENTERPRISE: LOAN GROWTH Base 100: Dec 20 +33% +1%100 Dec20 Jun26Dec24Dec22 (1) System: Non Financial Commercials (Bank of Spain) and BBVA total performing loans SMEs RMs +53% INCREASE New Transactional Solutions RMs 26% o/ TOTAL COMMERCIAL SALESFORCE Dec 20 - Jul 26 Differentiated Growth in Enterprise Segments BBVA System (1) Short term financing share of wallet 2 Digital channels: continuous update of features & functionalities Dec 19 - Jun 26
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Digital Transformation Translated into Superior Financial Performance NET PROFIT (Mn €) RoRC (%, 2025) 27.2% 0.31% CONTAINED COST OF RISK 20.7% 33.3% 40.8% EFFICIENCY (%, 2025) Avg. T op 5 peers Avg. T op5 peers 24.5% NAP share o/ top 5 peers NET PROFIT AND LEADING EFFICIENCY & PROFITABILITY (BASE 100: DEC 20) T op 5 peers: SAN; CABK; SAB ; BKT ; UNI 2021 2025 1,548 4,140 0.35% Avg. T op5 peers #1 +10.7% +7.8% BBVA Avg. T op5 CAGR 2020-25 2020 202320222021 2024 2025 CORE REVENUE GROWTH ABOVE PEERS BASE 100: DEC 20
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Spain, a compelling market for banking Spain, a compelling market for banking 03 BBV A: Building on a proven strategyto accelerate growth
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Leading the AI transformationScalingthe business BBV A: Building On a Proven Strategyto Accelerate Growth MORE ENGAGED CUSTOMERS EXPANDING HIGH VALUE SEGMENTS HYPER- PERSONALIZED VALUE-PROPOSITION BASED ON CUSTOMER INSIGHTS DRIVING PRODUCTIVITY GAINS
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AI-powered onboarding process: Reduce friction & maximize conversion (funnel) Unlock new customer acquisition pools: Non residents New customers from BBVA´s footprint, 3rd parties partnerships T ailored value propositions for high potential segments AI-optimized campaigns & push notifications Faster response to competitor offers Acquire More Customers, Engage Them From Day One KEY DRIVERS FOR CLIENT ACQUISITION Retail & Commercial SCALING THE BUSINESS LEADING THE AI TRANSFORMATION Maximize customer value from Day 1 Driving Higher Conversion And More cross sellsince Day 1 Engagement based onhyper- personalization
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Increase penetration in non-life insurance by leveraging our strategic partnerships Further Insurance Penetration Across Our Customer Base Anticipating Customersʼ Protection needs Transforming the Claims Experience Next-gen protection products Proactivity Hyper-personalization Market-leading claims handling experience through personalization, immediacy and traceability Health Cyber Risk Home Enterprises ROOM FOR GROWTH IN A VERY ATTRACTIVE CAPITAL LIGHT BUSINESS HOW WE WILL BOOST INSURANCE GROWTH 1 2 3 SCALING THE BUSINESS LEADING THE AI TRANSFORMATION Opportunity Growing ahead of the market +17% EARNINGS CONTRIBUTION (PRE-TAX PROFIT + FEES CAGR 2021-25) NON-LIFE PREMIUMS (%CAGR, 2021-25) +7% Sector +18 % JV BBVA - Allianz 21% Insured customers
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WE ARE INVESTING TO CLOSE THE GAP IN A SEGMENT WITH GROWTH POTENTIAL 03 Financial aggregation capabilities AI-enabled advisory tools Transform servicing & administration through enhance AI processes Scale advisory and servicing through AI 84% NPS Private Banker 201k ClientsAgo.26 +46% BankersDic. 20 - Jun. 26 Accelerate Growth and Keep Expanding Our Global Wealth Franchise SCALING THE BUSINESS LEADING THE AI TRANSFORMATION 01 Expand services for UHNW clients: launch of Global Family Office Family-based relationship model International Private Banking proposition and Global Clients Deepen client relationship and capture more share of wallet 02 Broader range of illiquid investment funds. Further development of corporate investment vehicles: VC & Real Estate. Exclusive complimentary cards for UHNW clients, with travel benefits. Broaden our value proposition A SOLID STARTING POINT +81 K Clients Dec. 20 - Ago. 26
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LEADING DIGITAL SERVICES TRANSACTIONALITY DRIVING CLIENT ENGAGEMENT Keep on growing across transactional products Scale our transactional solutions: embedded finance Enhanced payment security preserving customer experience Smarter customer servicing through AI-powered assistants Automate financing: radical simplify risk assessment and contracting processes Expand online short-term lending origination capabilities. Becoming the “Day to Day” Banking Partner of Our Enterprise Clients PAYROLL PAYMENTS TAX PAYMENTS COMEX SCALING THE BUSINESS LEADING THE AI TRANSFORMATION
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SMEs MIDDLE MARKET GLOBAL CORPORATES Prominence: expand customer acquisition. Extension of onboarding process across own and third-party channels. Easier: Enhance digital & remote servicing, to make interactions simpler, faster and more convenient. Better: Strengthen transactional services, particularly acquiring & payments. Bring large-corporate level of advice to commercials through AI Reinforce advisory and sector coverage with AI- enabled insights Cross-border business: accompanying clients across markets Deepen client relationship to increase share of wallet AI Banker, smart assistant to enhance RMs productivity Simplify processes to maximize commercial capacity Tailored Strategies to Grow in Every Enterprise Segment SCALING THE BUSINESS LEADING THE AI TRANSFORMATION Sustainability as a lever for growth (financing and advisory solutions) Segmentation criteria: Global Corporates: global/multinational companies; Middle Market companies >€5m total annual turnover; SMEs self-employed & companies <€5m total annual turnover
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Understanding each customer’s experience and sentiment Feedback Interaction Behaviour Complaints, Resolutions, Contract new products, Blocks, High profit invests. Digital interactions, Loyalty, Client profile Phone calls, Transactions Key processesNPS Open market. Capture direct client feedback across an increasing number of key journey moments. EBA allows: T ailoring experiences and channels to each individual customer Embedding customer experience into daily relationship Turning Customer Insights into Timely Actions FROM MEASURING BANK’S OVERALL SERVICE QUALITY TO ACTIVEL Y LISTENING TO ALL CLIENT INTERACTIONS FROM IMPROVING PAIN POINTS TO TURNING EVERY CUSTOMER INPUT INTO ACTION 50M INPUTS REAL TIME EBA * SCALING THE BUSINESS LEADING THE AI TRANSFORMATION Anticipating customer needs to trigger the right action at the right time *EBA: Emotional Balance Account
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AI Expands our Capacity to Serve and Grow LEADING THE AI TRANSFORMATIONSCALING THE BUSINESS Building next-generation customer solutions FOR THE CUSTOMER FOR THE BANK Clients Processes AI Banker (retail): 6,800+ Relationship Managers using it recurrently (72% positive feedback) Blue assistant: 30M+ customer queries solved (+70% positive feedback) 7M+ personalized experiences in App, anticipating needs of 50% active customers DELIVERING CONVENIENCE ENABLING HYPER- PERSONALIZATION FOSTERING SPECIALIZATION Employees Better decision-making & risk management MORE ROBUST Supporting growth with lower complexity & resources MORE SCALABLE Empowered with AI MORE PRODUCTIVE Higher value work
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Spain offers a compelling opportunity for profitable banking growth BBVA has led the digital transformation delivering tangible results: more customers, stronger growth and superior profit & efficiency We have a clear roadmap to accelerate profitable growth through customer acquisition, deeper engagement and expansion in high-value segments Our proven execution sets us apart to lead the next wave of transformation powered by IA with customer experience at the core Key Insights
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Thank you