Company: BBVXF
Filing Date: 2025-09-09
Form Type: 424B3
Source: 0001193125-25-198517
Chunk: 277

Company: BANCO BILBAO VIZCAYA ARGENTARIA, S.A.
Filing Date: 2025-09-09
Form: 424B3
Chunk 277
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             — |   |     |            |             — |   |
| Weighted average number of ordinary shares                                             
 outstanding, adjusted                                                                  |     |            | 5,298,337,101 |   |     |            | 5,391,687,023 |   |
| Earnings per share (euro)                                                              |     |            |          0.17 |   |     |            |          0.14 |   |
| Basic earnings per share adjusted for the effect of mandatory convertible bonds (euro) |     |            |          0.17 |   |     |            |          0.14 |   |
| Diluted earnings per share (euro)                                                      |     |            |          0.17 |   |     |            |          0.14 |   |

(*) Average number of shares outstanding, excluding the average number of own shares held in treasury stock during the period. As at 30 June 2025 and 2024, there were no other financial instruments or share-based commitments with employees with a significant impact on the calculation of diluted earnings (or loss) per share for the periods presented. For this reason, basic earnings (or loss) per share coincide with diluted earnings (or loss) per share. Note 4 – Risk management Note 4 “Risk management” to the consolidated annual financial statements for 2024 gives details of the Global Risk Framework and risk governance arrangements, and of how the Group’s main material risks are managed and monitored. Material disclosures updated as at 30 June 2025 in relation to risk management are provided below. 4.1. Macroeconomic, political and regulatory environment Macroeconomic environment The most salient aspects of the macroeconomic environment during the first half of 2025 are listed here below:

| – | The introduction of the Trump administration’s tariff policy agenda was one of the major events that took place                                                                                                                                      
 during first six months of the year and which brought volatility to the financial markets. After a sweeping tariff increase was announced in early April, the situation eased thanks to a temporary truce. However, the situation remains uncertain. |

| – | In the geopolitical landscape, the United States and Israel launched an attack on Iran in a bid to wipe out its                                                          
 nuclear programme. The situation was successfully brought under control after a truce was agreed, and the impact on oil prices was relatively contained and short-lived. |

| – | The negative impact of the trade war on economic data