Company: BBVXF
Filing Date: 2025-10-30
Form Type: 6-K
Source: 0001628280-25-047351
Chunk: 52

Company: BANCO BILBAO VIZCAYA ARGENTARIA, S.A.
Filing Date: 2025-10-30
Form: 6-K
Chunk 52
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. In the event of a discrepancy, the Spanish -language version prevails.

| January - September 2025Report - p.59 |

– Operating expenses grew by 18.0% due to higher personnel expenses associated with strategic plans and new capacities, as well as higher technological expenses resulting from the execution of strategic projects for the area. However, the efficiency ratio stood at 26.6% at the end of September, an improvement of 197 basis points compared to the first nine months of 2024, thanks to the outstanding growth in gross income. – Provisions for impairment on financial assets line recorded a release of €68m, mainly originating in Turkey, Rest of Business and to a lesser extent, in South America (Peru). In the third quarter of 2025 and excluding the effect of the variation in exchange rates, the Group's wholesale business generated a net attributable profit of € 816 m, which is 9.0 % higher compared to the previous quarter. This evolution is mainly due to the strong performance of recurring revenues, particularly net interest income.

18 With the exception of those countries whose economies have been considered hyperinflationary, for which the closing exchange rate of the most recent period will be used. Translation of this report originally issued in Spanish. In the event of a discrepancy, the Spanish -language version prevails.

| January - September 2025Report - p.60 |

Alternative Performance Measures (APMs) BBVA presents its results in accordance with the International Financial Reporting Standards (EU-IFRS). Additionally, the Group also considers that some Alternative Performance Measures (hereinafter APMs) provide useful additional financial information that should be taken into account when evaluating performance. They are considered complementary information and do not replace the financial information drafted according to the EU-IFRS. These APMs are also used when making financial, operational and planning decisions within the Entity. The Group firmly believes that they give a true and fair view of its financial information. These APMs are generally used in the financial sector as indicators for monitoring the assets, liabilities and economic and financial situation of entities. BBVA Group's APMs are given below. They are presented in accordance with the European Securities and Markets Authority (ESMA) guidelines, published on October 5, 2015 (ESMA/2015/1415en). The guideline mentioned before is aimed at promoting the usefulness and transparency of APMs included in prospectuses or regulated information in order to protect investors in the European