Company: BBVXF
Filing Date: 2025-08-12
Form Type: DRS
Source: 0000950123-25-007520
Chunk: 149

Company: BANCO BILBAO VIZCAYA ARGENTARIA, S.A.
Filing Date: 2025-08-12
Form: DRS
Chunk 149
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11, 2025.

This Amendment No. 4 has not been publicly filed with the Securities and Exchange Commission and all

information herein remains strictly confidential.

2023

The information in this subsection has been extracted from page 135 of Banco Sabadell’s annual report as of and for the year ended December 31, 2023.

Activities within the Group in relation to technology have met the particular needs of each of the
geographies in which it operates. For Spain, it is worth mentioning the acceleration that took place in the digital transformation, as well as the rollout of its catalogue of digital products, in addition to the creation of a new mobile app based on
the latest market standards. It is also worth mentioning the improved resilience of the IT platform, with a new data center for disaster recovery with cloud-native capabilities. In TSB, efforts continued to focus on improving business capabilities.
In Mexico, a new workplace model was put in place, based on the latest technology, improving productivity and efficiency.

Trend Information

Vision for 2025

The information in this subsection has been extracted from page 288 of Banco Sabadell’s consolidated directors’ report as of and for the year ended December 31, 2024. This subsection includes forward-looking statements. Such statements reflect only the views of Banco Sabadell’s management, speak only as of the date they were made and have not been updated or verified by BBVA. As a result, readers are cautioned not to place undue reliance on the forward-looking statements included below, which are subject to risks and uncertainties that may make actual results differ materially from those expressed or implied by such forward-looking statements. See “Cautionary Statements Regarding Forward-looking Statements” beginning on page 23.

Global economic growth in 2025 is expected to be impacted by uncertainty and Trump’s protectionist policies.
Trump’s arrival at the White House compounds other dragging structural factors, including the following: (i) the turbulent geopolitical environment and its consequences on international trade and value chains, (ii) structural weaknesses of
economies such as China, Germany and Italy, and (iii) the fiscal situation of some large developed economies, especially the United States, France and Italy. In Mexico, growth may be below that of the last three years, negatively affected by
restrictive monetary policy, uncertainty over constitutional reforms, the T-MEC review and the fiscal adjustment that the government must implement.

The geopolitical environment is expected to become more complicated with Trump’s arrival. Trump is expected to impose tariffs