<SEC-DOCUMENT>0000842180-25-000023.txt : 20250429
<SEC-HEADER>0000842180-25-000023.hdr.sgml : 20250429
<ACCEPTANCE-DATETIME>20250429163738
ACCESSION NUMBER:		0000842180-25-000023
CONFORMED SUBMISSION TYPE:	6-K
PUBLIC DOCUMENT COUNT:		2
CONFORMED PERIOD OF REPORT:	20250331
FILED AS OF DATE:		20250429
DATE AS OF CHANGE:		20250429

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			BANCO BILBAO VIZCAYA ARGENTARIA, S.A.
		CENTRAL INDEX KEY:			0000842180
		STANDARD INDUSTRIAL CLASSIFICATION:	COMMERCIAL BANKS, NEC [6029]
		ORGANIZATION NAME:           	02 Finance
		EIN:				133491492
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		6-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-10110
		FILM NUMBER:		25888441

	BUSINESS ADDRESS:	
		STREET 1:		CALLE AZUL 4
		CITY:			MADRID
		STATE:			U3
		ZIP:			28050
		BUSINESS PHONE:		011 34 91 537 8172

	MAIL ADDRESS:	
		STREET 1:		CALLE AZUL 4
		CITY:			MADRID
		STATE:			U3
		ZIP:			28050

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	BANCO BILBAO VIZCAYA ARGENTARIA S A
		DATE OF NAME CHANGE:	20000505

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	BANCO BILBAO VIZCAYA S A
		DATE OF NAME CHANGE:	19991103
</SEC-HEADER>
<DOCUMENT>
<TYPE>6-K
<SEQUENCE>1
<FILENAME>form6-kmarch2025.htm
<DESCRIPTION>6-K
<TEXT>
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<title>Document</title></head><body><div id="i4a27b892ded141958e799b2ba3298497_1"></div><div style="min-height:42.52pt;width:100%"><div><font><br></font></div></div><div style="margin-bottom:6pt;margin-top:10pt;text-align:center"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:96.045%"><tr><td style="width:1.0%"></td><td style="width:98.900%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:top"><div style="margin-top:1pt;padding-left:25.25pt;padding-right:25.25pt;text-align:center;text-indent:-45pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:4pt;font-weight:400;line-height:80%">&#160;</font></div></td></tr></table></div><div style="margin-top:2.25pt;text-align:center"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:18pt;font-weight:700;line-height:130%">UNITED STATES SECURITIES AND EXCHANGE COMMISSION </font></div><div style="text-align:center"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:130%">WASHINGTON, D.C. 20549 </font></div><div style="margin-bottom:6pt;margin-top:10pt;text-align:center"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:96.045%"><tr><td style="width:1.0%"></td><td style="width:98.900%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="border-bottom:0.25pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:top"><div style="margin-top:9pt;padding-left:218.75pt;padding-right:218.75pt;text-align:center"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:6pt;font-weight:400;line-height:80%">&#160;</font></div></td></tr></table></div><div style="margin-top:9pt;text-align:center"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:18pt;font-weight:700;line-height:130%">FORM 6-K</font></div><div style="margin-bottom:6pt;text-align:center"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:96.045%"><tr><td style="width:1.0%"></td><td style="width:98.900%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="border-bottom:0.25pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:top"><div style="margin-top:9pt;padding-left:218.75pt;padding-right:218.75pt;text-align:center"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:6pt;font-weight:400;line-height:80%">&#160;</font></div></td></tr></table></div><div style="margin-top:9pt;padding-left:15.3pt;padding-right:15.3pt;text-align:center;text-indent:-30.6pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:130%">REPORT OF FOREIGN PRIVATE ISSUER PURSUANT TO RULE 13a-16 OR 15d-16</font></div><div style="margin-top:9pt;padding-left:15.3pt;padding-right:15.3pt;text-align:center;text-indent:-30.6pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:130%">UNDER THE SECURITIES EXCHANGE ACT OF 1934</font></div><div style="margin-top:9pt;text-align:center"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:130%">For the three months ended March 31, 2025</font></div><div style="margin-top:9pt;text-align:center"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:130%">Commission file number&#58; 1-10110</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:130%"> </font></div><div style="margin-bottom:6pt;margin-top:10pt;text-align:center"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:96.045%"><tr><td style="width:1.0%"></td><td style="width:98.900%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="border-bottom:0.25pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:top"><div style="margin-top:9pt;padding-left:218.75pt;padding-right:218.75pt;text-align:center"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:6pt;font-weight:400;line-height:80%">&#160;</font></div></td></tr></table></div><div style="margin-top:9pt;text-align:center"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:22pt;font-weight:700;line-height:130%">BANCO BILBAO VIZCAYA ARGENTARIA, S.A. </font></div><div style="text-align:center"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:7pt;font-weight:700;line-height:130%">(Exact name of Registrant as specified in its charter) </font></div><div style="margin-top:9pt;text-align:center"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:22pt;font-weight:700;line-height:130%">BANK BILBAO VIZCAYA ARGENTARIA, S.A. </font></div><div style="text-align:center"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:7pt;font-weight:700;line-height:130%">(Translation of Registrant&#8217;s name into English) </font></div><div style="margin-bottom:6pt;margin-top:10pt;text-align:center"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:96.045%"><tr><td style="width:1.0%"></td><td style="width:98.900%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="border-bottom:0.25pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:top"><div style="margin-top:9pt;padding-left:218.75pt;padding-right:218.75pt;text-align:center"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:6pt;font-weight:400;line-height:80%">&#160;</font></div></td></tr></table></div><div style="text-align:center"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:130%">Calle Azul, 4</font></div><div style="text-align:center"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:130%">28050 Madrid</font></div><div style="text-align:center"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:130%">Spain </font></div><div style="text-align:center"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:7pt;font-weight:700;line-height:130%">(Address of principal executive offices) </font></div><div style="margin-bottom:6pt;margin-top:10pt;text-align:center"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:96.045%"><tr><td style="width:1.0%"></td><td style="width:98.900%"></td><td style="width:0.1%"></td></tr><tr style="height:11pt"><td colspan="3" style="border-bottom:0.25pt solid #000000;padding:0 1pt"></td></tr></table></div><div style="margin-top:12pt;text-align:center"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F&#58;</font></div><div style="margin-bottom:6pt;margin-top:10pt;text-align:center"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.123%"><tr><td style="width:1.0%"></td><td style="width:48.900%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:48.900%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Form 20-F &#91;X&#93;</font></td><td colspan="3" style="padding:2px 1pt 2px 3.77pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Form 40-F &#91;&#160;&#160;&#93;</font></td></tr></table></div><div><font><br></font></div><div style="margin-bottom:10pt;margin-top:10pt;text-align:center"><font><br></font></div><div style="height:42.52pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div><font><br></font></div></div></div><hr style="page-break-after:always"><div style="min-height:42.52pt;width:100%"><div><font><br></font></div></div><div style="margin-bottom:10pt;margin-top:10pt;text-align:center"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:120%">BANCO BILBAO VIZCAYA ARGENTARIA, S.A.</font></div><div style="margin-bottom:10pt;margin-top:10pt;text-align:center"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:120%">TABLE OF CONTENTS</font></div><div style="margin-bottom:6pt;margin-top:10pt;text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.893%"><tr><td style="width:1.0%"></td><td style="width:91.658%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:6.142%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Page</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><div style="padding-left:2.75pt;padding-right:2.75pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%"><a href="#i4a27b892ded141958e799b2ba3298497_10" style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%;text-decoration:none">Certain Terms and Conventions</a></font></div></td><td colspan="3" style="border-top:1pt solid #000;padding:2px 1pt;text-align:left;vertical-align:middle"><div style="margin-bottom:0.1pt;text-align:center"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%"><a href="#i4a27b892ded141958e799b2ba3298497_10" style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%;text-decoration:none">1</a></font></div></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><div style="padding-left:2.75pt;padding-right:2.75pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%"><a href="#i4a27b892ded141958e799b2ba3298497_13" style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%;text-decoration:none">Cautionary Statement Regarding Forward-Looking Statements</a></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><div style="margin-bottom:0.1pt;text-align:center"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%"><a href="#i4a27b892ded141958e799b2ba3298497_13" style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%;text-decoration:none">2</a></font></div></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><div style="padding-left:2.75pt;padding-right:2.75pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%"><a href="#i4a27b892ded141958e799b2ba3298497_16" style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%;text-decoration:none">Presentation of Financial Information</a></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><div style="margin-bottom:0.1pt;text-align:center"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%"><a href="#i4a27b892ded141958e799b2ba3298497_16" style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%;text-decoration:none">5</a></font></div></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><div style="padding-left:2.75pt;padding-right:2.75pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%"><a href="#i4a27b892ded141958e799b2ba3298497_28" style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%;text-decoration:none">Business Overview</a></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><div style="margin-bottom:0.1pt;text-align:center"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%"><a href="#i4a27b892ded141958e799b2ba3298497_28" style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%;text-decoration:none">7</a></font></div></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><div style="padding-left:2.75pt;padding-right:2.75pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%"><a href="#i4a27b892ded141958e799b2ba3298497_31" style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%;text-decoration:none">Operating and Financial Review and Prospects</a></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><div style="margin-bottom:0.1pt;text-align:center"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%"><a href="#i4a27b892ded141958e799b2ba3298497_31" style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%;text-decoration:none">15</a></font></div></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><div style="margin-bottom:0.1pt;padding-left:14.77pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%"><a href="#i4a27b892ded141958e799b2ba3298497_37" style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%;text-decoration:none">Operating Results</a></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><div style="margin-bottom:0.1pt;text-align:center"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%"><a href="#i4a27b892ded141958e799b2ba3298497_37" style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%;text-decoration:none">15</a></font></div></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><div style="padding-left:14.75pt;padding-right:2.75pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%"><a href="#i4a27b892ded141958e799b2ba3298497_76" style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%;text-decoration:none">Capital</a></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><div style="margin-bottom:0.1pt;text-align:center"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%"><a href="#i4a27b892ded141958e799b2ba3298497_76" style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%;text-decoration:none">37</a></font></div></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><div style="margin-bottom:0.1pt;padding-left:2.75pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%"><a href="#i4a27b892ded141958e799b2ba3298497_79" style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%;text-decoration:none">Other Matters</a></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><div style="margin-bottom:0.1pt;text-align:center"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%"><a href="#i4a27b892ded141958e799b2ba3298497_79" style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%;text-decoration:none">39</a></font></div></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><div style="padding-left:2.75pt;padding-right:2.75pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%"><a href="#i4a27b892ded141958e799b2ba3298497_103" style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%;text-decoration:none">Unaudited Condensed Interim Consolidated Financial Statements</a></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><div style="margin-bottom:0.1pt;text-align:center"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">F-<a href="#i4a27b892ded141958e799b2ba3298497_103" style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%;text-decoration:none">1</a></font></div></td></tr></table></div><div style="text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:112%">This Form 6-K is incorporated by reference into BBVA&#8217;s Registration Statements No. 333-266391 on Form F-3, No. 333-281111 on Form F-4 and Registration Statements Nos. 333-240248, 333-228053, 333-217073, 333&#8209;208728, 333&#8209;199835, 333-191625, 333-185538 and 333-178186 on Form S-8 filed with the Securities and Exchange Commission (&#8220;</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:112%">SEC</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:112%">&#8221;).</font></div><div style="margin-bottom:10pt;margin-top:10pt;text-align:justify;text-indent:18pt"><font><br></font></div><div style="height:42.52pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div><font><br></font></div></div></div><div id="i4a27b892ded141958e799b2ba3298497_7"></div><hr style="page-break-after:always"><div style="min-height:42.52pt;width:100%"><div><font><br></font></div></div><div style="margin-bottom:10pt;margin-top:10pt;text-align:justify"><font><br></font></div><div id="i4a27b892ded141958e799b2ba3298497_10"></div><div style="margin-bottom:10pt;margin-top:10pt;text-align:center"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:120%">CERTAIN TERMS AND CONVENTIONS</font></div><div style="margin-bottom:10pt;margin-top:10pt;text-align:justify;text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The terms below are used as follows throughout this report&#58;</font></div><div style="margin-bottom:10pt;margin-top:10pt;padding-left:35.7pt;text-align:justify;text-indent:-17.85pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:14.35pt">&#8220;</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:120%">BBVA</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8221;, the &#8220;</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Bank</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8221;, the &#8220;</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Company</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8221;, the &#8220;</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Group</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8221;, the &#8220;</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:120%">BBVA Group</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8221; or first person personal pronouns, such as &#8220;we&#8221;, &#8220;us&#8221;, or &#8220;our&#8221;, mean Banco Bilbao Vizcaya Argentaria, S.A. and its consolidated subsidiaries unless otherwise indicated or the context otherwise requires.</font></div><div style="margin-bottom:10pt;margin-top:10pt;padding-left:35.7pt;text-align:justify;text-indent:-17.85pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:14.35pt">&#8220;</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:120%">BBVA Mexico</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8221; means Grupo Financiero BBVA Bancomer, S.A. de C.V. and its consolidated subsidiaries, unless otherwise indicated or the context otherwise requires.</font></div><div style="margin-bottom:10pt;margin-top:10pt;padding-left:35.7pt;text-align:justify;text-indent:-17.85pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:14.35pt">&#8220;</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Consolidated Financial Statements</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8221; means our audited consolidated financial statements as of and for the years ended December 31, 2024, 2023 and 2022, presented in compliance with International Financial Reporting Standards as issued by the International Accounting Standards Board (&#8220;</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:120%">IFRS-IASB</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8221;), as well as in accordance with the International Financial Reporting Standards endorsed by the European Union (&#8220;</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:120%">EU-IFRS</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8221;) applicable as of December 31, 2024, considering Bank of Spain Circular 4&#47;2017, as well as its successive amendments, and any other legislation governing financial reporting which was, as of the date of preparation of such consolidated financial statements, applicable, and with the format and mark-up requirements established in the EU Delegated Regulation 2019&#47;815 of the European Commission. The Consolidated Financial Statements are included in the 2024 Form 20-F.</font></div><div style="margin-bottom:10pt;margin-top:10pt;padding-left:35.7pt;text-align:justify;text-indent:-17.85pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:14.35pt">&#8220;</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Garanti BBVA</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8221; means T&#252;rkiye Garanti Bankas&#305; A.&#350;., and its consolidated subsidiaries, unless otherwise indicated or the context otherwise requires.</font></div><div style="margin-bottom:10pt;margin-top:10pt;padding-left:35.7pt;text-align:justify;text-indent:-17.85pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:14.35pt">&#8220;</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Latin America</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8221; refers to Mexico and the other countries in which we operate in South America and Central America.</font></div><div style="margin-bottom:10pt;margin-top:10pt;padding-left:35.7pt;text-align:justify;text-indent:-17.85pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:14.35pt">&#8220;</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Unaudited Condensed Interim Consolidated Financial Statements</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8221; means our unaudited condensed interim consolidated financial statements as of and for the three months ended March 31, 2025 presented in accordance with International Accounting Standard 34 (IAS 34) as issued by the IASB and adopted by the European Union (&#8220;</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:120%">EU</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8221;) and included herewith.</font></div><div style="margin-bottom:10pt;margin-top:10pt;padding-left:35.7pt;text-align:justify;text-indent:-17.85pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:14.35pt">&#8220;</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:120%">2024 Form 20-F</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8221; means our Annual Report on Form 20-F for the year ended December 31, 2024 filed with the SEC on February 21, 2025.</font></div><div style="margin-bottom:10pt;margin-top:10pt;text-align:justify;text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">In this report, &#8220;</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:120%">$</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8221;, &#8220;</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:120%">US$</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8221;, &#8220;</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:120%">USD</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8221;, &#8220;</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:120%">U.S. dollars</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8221;, and &#8220;</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:120%">dollars</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8221; refer to United States Dollars and &#8220;</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:120%">&#8364;</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8221; and &#8220;</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:120%">euro</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8221; refer to Euro.</font></div><div style="height:42.52pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="margin-bottom:10pt;margin-top:10pt;text-align:center;text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">1</font></div></div></div><div id="i4a27b892ded141958e799b2ba3298497_13"></div><hr style="page-break-after:always"><div style="min-height:42.52pt;width:100%"><div><font><br></font></div></div><div style="margin-bottom:10pt;margin-top:10pt;text-align:center"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:120%">CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING STATEMENTS </font></div><div style="margin-bottom:10pt;margin-top:10pt;text-align:justify;text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">This report contains statements that constitute forward-looking statements within the meaning of Section&#160;27A of the Securities Act of 1933, as amended (the &#8220;</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Securities Act</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8221;), Section&#160;21E of the U.S. Securities Exchange Act of 1934, as amended (the &#8220;</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Exchange Act</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8221;), and the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements can be identified by the use of forward-looking terminology such as &#8220;believe&#8221;, &#8220;expect&#8221;, &#8220;estimate&#8221;, &#8220;forecast&#8221;, &#8220;project&#8221;, &#8220;anticipate&#8221;, &#8220;should&#8221;, &#8220;intend&#8221;, &#8220;probability&#8221;, &#8220;risk&#8221;, &#8220;VaR&#8221;, &#8220;target&#8221;, &#8220;goal&#8221;, &#8220;objective&#8221;, and &#8220;future&#8221; or by the use of similar expressions or variations on such expressions, or by the discussion of strategy or objectives. Forward-looking statements are based on current plans, estimates and projections, are not guarantees of future performance and are subject to inherent risks, uncertainties and other factors that could cause actual results to differ materially from the future results expressed or implied by such forward-looking statements. The accompanying information in this report, including, without limitation, the information under the items listed below, identifies important factors that could cause such differences&#58;</font></div><div style="margin-bottom:10pt;margin-top:10pt;padding-left:36pt;text-align:justify;text-indent:-18pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:14.5pt">&#8220;</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%">Business Overview</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8221; and</font></div><div style="margin-bottom:10pt;margin-top:10pt;padding-left:36pt;text-align:justify;text-indent:-18pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%">&#8226;</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:14.5pt">&#8220;</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%">Operating and Financial Review and Prospects</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8221;</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%">.</font></div><div style="margin-bottom:10pt;margin-top:10pt;text-align:justify;text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Other important factors that could cause actual results to differ materially from those in forward-looking statements include the factors identified in &#8220;</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%">Item 3. Key Information&#8212;Risk Factors</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8221;, &#8220;</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%">Item 4. Information on the Company</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8221;, &#8220;</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%">Item 5. Operating and Financial Review and Prospects</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8221; and &#8220;</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%">Item 11. Quantitative and Qualitative Disclosures About Market Risk</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8221; in the 2024 Form 20-F.</font></div><div style="margin-bottom:10pt;margin-top:10pt;text-align:justify;text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Other important factors that could cause actual results to differ materially from those expressed or implied by forward-looking statements include, among others&#58;</font></div><div style="padding-left:36pt;text-align:justify;text-indent:-18pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:112%">&#8226;</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:112%;padding-left:14.5pt">the deterioration of economic conditions or the alteration of the institutional environment of the countries in which we operate, especially Spain, Mexico and Turkey, including any adverse developments, or the perception that such developments may occur, regarding credit quality, public debt sustainability, economic or fiscal policy and sovereign ratings, particularly Spain&#8217;s, Mexico&#8217;s and Turkey&#8217;s, among other factors&#59;</font></div><div style="margin-bottom:10pt;margin-top:10pt;padding-left:36pt;text-align:justify;text-indent:-18pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:14.5pt">the intensity of geopolitical and economic risks in recent years as a result of, among other factors, the tensions triggered by the persistent conflicts in Ukraine and the Middle East, long-standing U.S.-China trade tensions including recent trade tariffs, the escalation of trade tariffs globally, and changes in tariff policies, Brexit and the rise of populism in several regions of the world. Furthermore, there is the risk of a sharp global growth slowdown&#59;</font></div><div style="margin-bottom:10pt;margin-top:10pt;padding-left:36pt;text-align:justify;text-indent:-18pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:14.5pt">changes or volatility in interest rates, foreign exchange rates, asset prices, equity markets, commodity prices (including energy prices), inflation or deflation and, in particular, as of the date of this report on Form 6-K, the depreciation of the currencies of the non-euro geographical areas in which we operate, high inflation, stagflation due to more intense or prolonged supply crises, high interest rates in most of the geographical areas where we operate (which may impact default rates) and low real interest rates in Turkey (which may affect our margins)&#59;</font></div><div style="margin-bottom:10pt;margin-top:10pt;padding-left:36pt;text-align:justify;text-indent:-18pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:14.5pt">the increased turbulence in the banking sector since March 2023, in particular, following the liquidity and other problems experienced by certain banks in the United States and Switzerland, which have led to increased concerns over the volatility and quality of banks&#8217; deposits and their exposure to rising interest rates, and have adversely affected the valuations of certain banks. BBVA has significant exposure to the global banking sector. In addition, certain actions by Swiss regulators in 2023 have led to increased uncertainty regarding the potential actions to be adopted by the relevant authorities in connection with a bank&#8217;s failure. Moreover, regulatory changes are expected in the EU and, particularly, in Spain, in connection with the ranking of claims upon a bank&#8217;s insolvency, providing a preference to claims of all depositors relative to ordinary unsecured claims, which may adversely affect the risk profile and cost of banks&#8217; debt securities. Further, there could be changes to the deposit guarantee schemes in certain jurisdictions, which could lead to changes in customer behavior and how banks manage their deposits portfolio&#59;</font></div><div style="margin-bottom:10pt;margin-top:10pt;padding-left:36pt;text-align:justify;text-indent:-18pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:14.5pt">adverse developments in emerging economies, in particular Latin America and Turkey, including unfavorable political and economic developments, social instability and changes in governmental policies, including expropriation, nationalization, exchange controls or other limitations on the distribution or repatriation of dividends, international ownership legislation, tax policies, interest rate caps, fee caps and other policies affecting the banking sector, including the &#8220;liraization&#8221; strategy in Turkey (which seeks to increase the weight of Turkish lira-denominated assets and liabilities of the banking system). Further, emerging economies generally face higher anti-money laundering and environmental, social and governance (&#8220;</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:120%">ESG</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8221;) risk levels&#59; </font></div><div style="margin-bottom:10pt;margin-top:10pt;padding-left:36pt;text-align:justify;text-indent:-18pt"><font style="color:#000000;font-family:'BBVA Benton Sans Book',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:13.38pt">in Spain, political, regulatory and economic uncertainty may have a negative impact on economic activity, and there is a risk that public policies could be adopted that have an adverse impact on the economy or our business&#59;</font></div><div style="height:42.52pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="margin-bottom:10pt;text-align:center"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:133%">2</font></div></div></div><hr style="page-break-after:always"><div style="min-height:42.52pt;width:100%"><div><font><br></font></div></div><div style="margin-bottom:10pt;margin-top:10pt;padding-left:36pt;text-align:justify;text-indent:-18pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:14.5pt">downgrades in our credit ratings or in sovereign credit ratings, particularly Spain&#8217;s, Mexico&#8217;s and Turkey&#8217;s respective credit ratings&#59;</font></div><div style="margin-bottom:10pt;margin-top:10pt;padding-left:36pt;text-align:justify;text-indent:-18pt"><font style="color:#000000;font-family:'BBVA Benton Sans Book',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:13.38pt">the monetary, interest rate and other policies of central banks, and the trade, economic and other policies of governments, in the EU, Spain, Mexico, Turkey, the United States and elsewhere, including the impact of the still-prevailing high interest rates and the escalation of trade tariffs globally on the Group&#8217;s results of operations (including potential mark-to-market losses on securities portfolios, reduced demand for credit, increased funding costs and higher default rates). Moreover, any future interest rate reductions may result in higher inflation and adversely affect the Group&#8217;s results of operations&#59;</font></div><div style="margin-bottom:10pt;margin-top:10pt;padding-left:36pt;text-align:justify;text-indent:-18pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:14.5pt">adjustments in the real estate markets in the geographical areas in which we operate, in particular in Spain, Mexico and Turkey&#59;</font></div><div style="margin-bottom:10pt;margin-top:10pt;padding-left:36pt;text-align:justify;text-indent:-18pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:14.5pt">the success of our acquisitions and investments, divestitures, mergers, joint ventures and strategic alliances&#59;</font></div><div style="margin-bottom:10pt;margin-top:10pt;padding-left:36pt;text-align:justify;text-indent:-18pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:14.5pt">BBVA&#8217;s ability to complete the Exchange Offer (as defined herein) for all of the shares of Banco de Sabadell, S.A. and, if applicable, integrate such entity successfully, and any unanticipated costs, losses or other impacts in connection therewith&#59; see &#8220;</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%">Other Matters&#8212;Offer to exchange 100% of the shares of Banco de Sabadell, S.A. for shares of Banco Bilbao Vizcaya Argentaria, S.A.</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8221;&#59;</font></div><div style="margin-bottom:10pt;margin-top:10pt;padding-left:36pt;text-align:justify;text-indent:-18pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:14.5pt">the effects of competition in the markets in which we operate and the rise of neobanks (a new generation of financial institutions that operate exclusively online), which may be influenced by regulation or deregulation affecting us or our competitors, and our ability to manage information technology obsolescence, implement technological advances on a timely basis or at all and effectively capture the benefits of emerging technologies, including cloud computing, artificial intelligence, big data analysis, crypto currencies and alternative payment systems&#59;</font></div><div style="margin-bottom:10pt;margin-top:10pt;padding-left:36pt;text-align:justify;text-indent:-18pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:14.5pt">our ability to comply with various legal and regulatory regimes and the impact of applicable laws and regulations on our operations, including capital, resolution, liquidity, provision and consumer protection requirements, and the increasing tax burden&#59; </font></div><div style="margin-bottom:10pt;margin-top:10pt;padding-left:36pt;text-align:justify;text-indent:-18pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:14.5pt">changes in consumer spending and savings habits, including changes in government policies which may influence spending, saving and investment decisions&#59; </font></div><div style="margin-bottom:10pt;margin-top:10pt;padding-left:36pt;text-align:justify;text-indent:-18pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:14.5pt">our ability to continue to access sources of liquidity and funding, including public sources of liquidity such as the funding provided by the European Central Bank (&#8220;</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:120%">ECB</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8221;) under its programs, and our ability to receive dividends and other funds from our subsidiaries&#59;</font></div><div style="margin-bottom:10pt;margin-top:10pt;padding-left:36pt;text-align:justify;text-indent:-18pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:14.5pt">the effectiveness of our debt recovery policy, including our ability to recover aged non-performing loans&#59;</font></div><div style="margin-bottom:10pt;margin-top:10pt;padding-left:36pt;text-align:justify;text-indent:-18pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:14.5pt">our ability to hedge certain risks economically, including exchange rate risk&#59;</font></div><div style="margin-bottom:10pt;margin-top:10pt;padding-left:36pt;text-align:justify;text-indent:-18pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:14.5pt">our ability to address physical, regulatory, reputational, transition and business risks associated with climate change and emerging and developing ESG standards, including our ability to meet any ESG expectations, targets or obligations and the cost thereof&#59;</font></div><div style="margin-bottom:10pt;margin-top:10pt;padding-left:36pt;text-align:justify;text-indent:-18pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:14.5pt">our ability to make payments on certain substantial unfunded amounts relating to commitments with personnel&#59;</font></div><div style="margin-bottom:10pt;margin-top:10pt;padding-left:36pt;text-align:justify;text-indent:-18pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:14.5pt">the performance of our international operations and our ability to manage such operations&#59;</font></div><div style="margin-bottom:10pt;margin-top:10pt;padding-left:36pt;text-align:justify;text-indent:-18pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:14.5pt">weaknesses or failures in the Group&#8217;s internal or outsourced processes, systems (including information technology systems) and security&#59;</font></div><div style="margin-bottom:10pt;margin-top:10pt;padding-left:36pt;text-align:justify;text-indent:-18pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:14.5pt">weaknesses or failures of our anti-money laundering or anti-terrorism programs, or of our internal policies, procedures, systems and other mitigating measures designed to ensure compliance with applicable anti-corruption laws and sanctions regulations&#59;</font></div><div style="margin-bottom:10pt;margin-top:10pt;padding-left:36pt;text-align:justify;text-indent:-18pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:14.5pt">security breaches, including cyber-attacks and identity theft&#59;</font></div><div style="margin-bottom:10pt;margin-top:10pt;padding-left:36pt;text-align:justify;text-indent:-18pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:14.5pt">the outcome of legal and regulatory actions and proceedings, both those to which the Group is currently exposed and any others which may arise in the future, including actions and proceedings related to former subsidiaries of the Group or in respect of which the Group may have indemnification obligations, as well as legal and regulatory actions and proceedings against other financial institutions, especially if such actions or proceedings result in rulings that affect the industry generally or lead to changes in the Group&#8217;s practices&#59;</font></div><div style="height:42.52pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="margin-bottom:10pt;text-align:center"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:133%">3</font></div></div></div><hr style="page-break-after:always"><div style="min-height:42.52pt;width:100%"><div><font><br></font></div></div><div style="margin-bottom:10pt;margin-top:10pt;padding-left:36pt;text-align:justify;text-indent:-18pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:14.5pt">actions that are incompatible with our ethics and compliance standards, and our failure to timely detect or remedy any such actions&#59;</font></div><div style="margin-bottom:10pt;margin-top:10pt;padding-left:36pt;text-align:justify;text-indent:-18pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:14.5pt">our success in managing the risks involved in the foregoing, which depends, among other things, on the adequacy of our internal risk models and our ability to anticipate events that are not captured or fully accounted for in the models we use or to otherwise adjust our risk parameters, risk appetite framework and estimations to account for the foregoing and any changes in market conditions&#59; and</font></div><div style="margin-bottom:10pt;margin-top:10pt;padding-left:36pt;text-align:justify;text-indent:-18pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%;padding-left:14.5pt">force majeure</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> and other events beyond our control.</font></div><div style="margin-bottom:10pt;margin-top:10pt;text-align:justify;text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Readers are cautioned not to place undue reliance on forward-looking statements, which speak only as of the date hereof. We undertake no obligation to release publicly the result of any revisions to these forward-looking statements to reflect events or circumstances after the date hereof, including, without limitation, changes in our business, strategy, targets or expectations, including as a result of the occurrence of unanticipated events.</font></div><div style="margin-bottom:10pt;margin-top:10pt;text-align:justify;text-indent:18pt"><font><br></font></div><div style="height:42.52pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="margin-bottom:10pt;text-align:center"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:133%">4</font></div></div></div><div id="i4a27b892ded141958e799b2ba3298497_16"></div><hr style="page-break-after:always"><div style="min-height:42.52pt;width:100%"><div><font><br></font></div></div><div style="margin-bottom:10pt;margin-top:10pt;text-align:center"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:120%">PRESENTATION OF FINANCIAL INFORMATION</font></div><div style="margin-bottom:10pt;margin-top:10pt;text-align:justify;text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Under Regulation (EC) no. 1606&#47;2002 of the European Parliament and of the Council of July 19, 2002, all companies governed by the law of an EU Member State and whose securities are admitted to trading on a regulated market of any Member State must prepare their consolidated financial statements for the years beginning on or after January 1, 2005 in conformity with EU-IFRS. The Bank of Spain issued Circular 4&#47;2017 of November 27, 2017 (&#8220;</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Circular 4&#47;2017</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8221;), on Public and Confidential Financial Reporting Rules and Formats, which requires Spanish credit institutions to adapt their accounting system to the principles derived from the adoption of EU-IFRS.</font></div><div style="margin-bottom:10pt;margin-top:10pt;text-align:justify;text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">There are no differences between EU-IFRS required to be applied under the Bank of Spain&#8217;s Circular 4&#47;2017 and IFRS-IASB as of the dates and for the periods presented in the Unaudited Condensed Interim Consolidated Financial Statements. The Unaudited Condensed Interim Consolidated Financial Statements are presented in accordance with International Accounting Standard 34 (IAS 34) as issued by the IASB and adopted by the EU.</font></div><div style="margin-bottom:10pt;margin-top:10pt;text-align:justify;text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">For a description of our critical accounting policies, see Note 2 to the Unaudited Condensed Interim Consolidated Financial Statements, &#8220;</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%">Item 5. Operating and Financial Review and Prospects&#8212;Critical Accounting Policies</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8221; in the 2024 Form 20-F and Note 2.2 to the Consolidated Financial Statements.</font></div><div style="margin-bottom:10pt;margin-top:10pt;text-align:justify;text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The financial information as of December 31, 2024 and for the three months ended March 31, 2024 included herein and in the Unaudited Condensed Interim Consolidated Financial Statements may differ from previously reported financial information as of such date and for such period in previously filed reports as a result of certain intra-group adjustments referred to in the section &#8220;&#8212;</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%">Changes in Intra-Group Adjustments</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8221; herein.</font></div><div style="margin-bottom:10pt;margin-top:10pt;text-align:justify;text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">We consider certain of our critical accounting policies to be particularly important due to their effect on the financial reporting of our financial condition and results of operations and because they require management to make difficult, complex or subjective judgments, some of which may relate to matters that are inherently uncertain. Our reported financial condition and results of operations are sensitive to accounting methods, assumptions and estimates that underlie the preparation of the consolidated financial statements. The nature of critical accounting policies, the judgments and other uncertainties affecting application of those policies and the sensitivity of reported results to changes in conditions and assumptions are factors to be considered when reviewing the Unaudited Condensed Interim Consolidated Financial Statements. For information on the estimates made by the Group in preparing the Unaudited Condensed Interim Consolidated Financial Statement, see Note 1.3 to the Unaudited Condensed Interim Consolidated Financial Statements.</font></div><div style="margin-bottom:10pt;margin-top:10pt;text-align:justify;text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Hyperinflationary Economies</font></div><div style="margin-bottom:10pt;margin-top:10pt;text-align:justify;text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Turkish, Argentine and Venezuelan economies have been considered hyperinflationary, as defined by IAS 29 &#8220;Financial Reporting in Hyperinflationary Economies&#8221;, since 2022, 2018 and 2008, respectively. All the components of the financial statements (including income statement items) of entities located in such countries</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:6.5pt;font-weight:400;line-height:120%;position:relative;top:-3.5pt;vertical-align:baseline">1</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> (in each case, for any period in which the relevant economy was considered to be hyperinflationary) have been converted at the relevant period-end exchange rate for inclusion in our consolidated financial statements, and the resulting conversion differences have been recorded within &#8220;Accumulated other comprehensive income (loss)&#8221; in accordance with IAS 21 &#8220;Effects of Changes in Foreign Exchange Rates&#8221;.</font></div><div style="margin-bottom:10pt;margin-top:10pt;text-align:justify;text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">See Note 2.2.18 to the Consolidated Financial Statements for information on the application of IAS 29 &#8220;Financial Reporting in Hyperinflationary Economies&#8221; and IAS 21 &#8220;Effects of Changes in Foreign Exchange Rates&#8221; to hyperinflationary economies.</font></div><div style="margin-bottom:10pt;margin-top:10pt;text-align:justify;text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Changes in Intra-Group Adjustments</font></div><div style="margin-bottom:10pt;margin-top:10pt;text-align:justify;text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Following the publication of the Consolidated Financial Statements, certain immaterial balance sheet amounts related to specific activities among the business units were reallocated between the operating segments and the Corporate Center. As a result, certain expenses were reallocated, in particular, between Spain, Rest of Business and the Corporate Center. In order to make the segment information as of December 31, 2024 and for the three months ended March 31, 2024 comparable with the segment information as of and for the three months ended March 31, 2025, segment information as of December 31, 2024 and for the three months ended March 31, 2024 has been revised in conformity with these intra-group reallocations. These intra-group adjustments had no impact at the consolidated level.</font></div><div style="margin-bottom:10pt;margin-top:10pt;text-align:justify;text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">See Note 5 to the Unaudited Condensed Interim Consolidated Financial Statements for information on our operating segments.</font></div><div style="border-bottom:1pt solid #000000;margin-bottom:5pt;margin-top:10pt;opacity:1;width:150pt"></div><div style="text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:5.2pt;font-weight:400;line-height:120%;position:relative;top:-2.8pt;vertical-align:baseline">1</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> With respect to Turkey, IAS 29 does not apply to the operations outside Turkey of the T&#252;rkiye Garanti Bankas&#305; A.&#350;. group of companies, and in particular to the financial statements of Garanti Bank S.A. in Romania and GarantiBank BBVA International N.V. in the Netherlands.</font></div><div style="height:42.52pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="margin-bottom:10pt;text-align:center"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:133%">5</font></div></div></div><hr style="page-break-after:always"><div style="min-height:42.52pt;width:100%"><div><font><br></font></div></div><div style="margin-bottom:10pt;margin-top:10pt;text-align:justify;text-indent:18pt"><font id="if21f41825d4e4f71a8d16d5fbf8b0dd2_7259"></font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Share Buyback Program</font></div><div style="margin-bottom:10pt;margin-top:10pt;text-align:justify;text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">On January 30, 2025, BBVA announced the execution of a share repurchase program for an amount of &#8364;993 million, subject to obtaining the corresponding regulatory authorizations and approval by the Board of Directors of the specific terms and conditions of the program, which will be communicated to the market before the start of the program&#8217;s execution, which is pending, as of the date of this report.</font></div><div style="margin-bottom:10pt;margin-top:10pt;text-align:justify;text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Statistical and Financial Information </font></div><div style="margin-bottom:10pt;margin-top:10pt;text-align:justify;text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The following principles should be noted in reviewing the statistical and financial information contained herein&#58;</font></div><div style="margin-bottom:10pt;margin-top:10pt;padding-left:36pt;text-align:justify;text-indent:-18pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:14.5pt">Unless otherwise stated, any reference to loans refers to both loans and advances.</font></div><div style="margin-bottom:10pt;margin-top:10pt;padding-left:36pt;text-align:justify;text-indent:-18pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:14.5pt">Financial information with respect to segments or subsidiaries may not reflect consolidation adjustments.</font></div><div style="margin-bottom:10pt;margin-top:10pt;padding-left:36pt;text-align:justify;text-indent:-18pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:14.5pt">Certain numerical information in this report on Form 6-K may not compute due to rounding. In addition, information regarding period-to-period changes is based on numbers which have not been rounded.</font></div><div id="i4a27b892ded141958e799b2ba3298497_22"></div><div style="text-align:justify"><font><br></font></div><div id="i4a27b892ded141958e799b2ba3298497_25"></div><div style="text-align:justify"><font><br></font></div><div style="height:42.52pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="margin-bottom:10pt;text-align:center"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:133%">6</font></div></div></div><div id="i4a27b892ded141958e799b2ba3298497_28"></div><hr style="page-break-after:always"><div style="min-height:42.52pt;width:100%"><div style="margin-bottom:6pt;margin-top:0.03pt;padding-left:0.56pt;text-align:justify"><font><br></font></div></div><div style="margin-bottom:10pt;text-align:center"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:120%">BUSINESS OVERVIEW</font></div><div style="margin-bottom:10pt;margin-top:10pt;text-align:justify;text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The BBVA Group is a customer-centric global financial services group founded in 1857. Internationally diversified and with strengths in the traditional banking businesses of retail banking, asset management and wholesale banking, the Group is committed to offering a compelling digital proposition focused on customer experience.</font></div><div style="margin-bottom:10pt;margin-top:10pt;text-align:justify;text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">For this purpose, the Group is focused on increasingly offering products online and through mobile channels, improving the functionality of its digital offerings and refining the customer experience, contributing to the delivery of its strategy in a sustainable and inclusive way. BBVA places sustainability at the core of its strategy. Sustainability is impacting the banking business, affecting not only relations with customers but also internal processes.</font></div><div style="margin-bottom:10pt;margin-top:10pt;text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Operating Segments</font></div><div style="margin-bottom:10pt;margin-top:10pt;text-align:justify;text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">As of March 31, 2025, the structure of the operating segments used by the BBVA Group for management purposes remained the same as in 2024.</font></div><div style="margin-bottom:10pt;margin-top:10pt;text-align:justify;text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Set forth below are the Group&#8217;s current five operating segments&#58;</font></div><div style="margin-bottom:10pt;margin-top:10pt;padding-left:36pt;text-align:justify;text-indent:-18pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:14.5pt">Spain&#59;</font></div><div style="margin-bottom:10pt;margin-top:10pt;padding-left:36pt;text-align:justify;text-indent:-18pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:14.5pt">Mexico&#59;</font></div><div style="margin-bottom:10pt;margin-top:10pt;padding-left:36pt;text-align:justify;text-indent:-18pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:14.5pt">Turkey&#59;</font></div><div style="margin-bottom:10pt;margin-top:10pt;padding-left:36pt;text-align:justify;text-indent:-18pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:14.5pt">South America&#59; and</font></div><div style="margin-bottom:10pt;margin-top:10pt;padding-left:36pt;text-align:justify;text-indent:-18pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:14.5pt">Rest of Business.</font></div><div style="margin-bottom:10pt;margin-top:10pt;text-align:justify;text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">In addition to the operating segments referred to above, the Group has a Corporate Center which includes those items that have not been allocated to an operating segment. It includes the Group&#8217;s general management functions, including costs from central units that have a corporate function&#59; management of structural exchange rate positions carried out by the Assets &#38; Liabilities Management unit (&#8220;</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:120%">ALCO</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8221;), including currency hedging&#59; certain proprietary portfolios&#59; certain tax assets and liabilities&#59; certain provisions related to commitments with employees&#59; and goodwill and other intangibles, as well as the financing of such asset portfolios. It also includes the results of the Group&#8217;s stake in the venture capital fund Propel Venture Partners.</font></div><div style="margin-bottom:10pt;margin-top:10pt;text-align:justify;text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Following the publication of the Consolidated Financial Statements, certain immaterial balance sheet amounts related to specific activities among the business units were reallocated between the operating segments and the Corporate Center. As a result, certain expenses were reallocated, in particular, between Spain, Rest of Business and the Corporate Center. In order to make the segment information as of December 31, 2024 and for the three months ended March 31, 2024 comparable with the segment information as of and for the three months ended March 31, 2025, segment information as of December 31, 2024 and for the three months ended March 31, 2024 has been revised in conformity with these intra-group reallocations. These intra-group adjustments had no impact at the consolidated level.</font></div><div style="margin-bottom:10pt;margin-top:10pt;text-align:justify;text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The breakdown of the Group&#8217;s total assets by each of BBVA&#8217;s operating segments and the Corporate Center as of March 31, 2025 and December 31, 2024 was as follows&#58;</font></div><div style="margin-bottom:6pt;margin-top:10pt;text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.893%"><tr><td style="width:1.0%"></td><td style="width:53.599%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:21.550%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:21.551%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:700;line-height:120%">As of March 31, 2025</font></td><td colspan="3" style="border-bottom:1pt solid #000;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:700;line-height:120%">As of December 31, 2024</font></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="6" style="border-top:1pt solid #000;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:700;line-height:120%">(In Millions of Euros)</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Spain</font></td><td colspan="3" style="border-top:1pt solid #000;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%">405,324</font></td><td colspan="3" style="border-top:1pt solid #000;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%">411,620</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Mexico</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%">162,908</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%">168,470</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Turkey</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%">85,975</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%">82,782</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%">South America</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%">72,915</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%">73,997</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Rest of Business</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%">64,826</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%">66,534</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Subtotal Assets by Operating Segment</font></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:700;line-height:120%">791,947</font></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:700;line-height:120%">803,404</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Corporate Center and Adjustments (1)</font></td><td colspan="3" style="border-top:1pt solid #000;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%">(19,085)</font></td><td colspan="3" style="border-top:1pt solid #000;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%">(31,002)</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Total Assets BBVA Group</font></td><td colspan="3" style="border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:700;line-height:120%">772,863</font></td><td colspan="3" style="border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:700;line-height:120%">772,402</font></td></tr></table></div><div style="padding-left:18pt;text-align:justify;text-indent:-18pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(1)</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:120%;padding-left:8.68pt">Includes balance sheet intra-group adjustments between the Corporate Center and the operating segments (see &#8220;</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-style:italic;font-weight:400;line-height:120%">Presentation of Financial Information&#8212;Changes in Intra-Group Adjustments</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:120%">&#8221; for information on such adjustments).</font></div><div style="height:42.52pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="margin-bottom:10pt;text-align:center"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:133%">7</font></div></div></div><hr style="page-break-after:always"><div style="min-height:42.52pt;width:100%"><div style="margin-bottom:6pt;margin-top:0.03pt;padding-left:0.56pt;text-align:justify"><font><br></font></div></div><div style="margin-bottom:10pt;margin-top:10pt;text-align:justify;text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The following table sets forth information relating to the profit (loss) attributable to parent company for each of BBVA&#8217;s operating segments and the Corporate Center for the three months ended March 31, 2025 and 2024. Such information is presented under management criteria&#59; however, for the three months ended March 31, 2025 and 2024, there are no differences between the sum of the income statements of our operating segments and the Corporate Center (calculated in accordance with management criteria used to report segment financial information) and the consolidated income statement of the Group. For additional information on the profit (loss) attributable to parent company for each of BBVA&#8217;s operating segments and the Corporate Center, see &#8220;</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%">Operating and Financial Review and Prospects&#8212;Operating Results&#8212;BBVA Group results of operations for the three months ended March 31, 2025 compared with the three months ended March 31, 2024&#8212;Results of operations by operating segment for the three months ended March 31, 2025 compared with the three months ended March 31, 2024</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8221;.</font></div><div style="margin-bottom:6pt;margin-top:10pt;text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.893%"><tr><td style="width:1.0%"></td><td style="width:34.185%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:15.078%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:15.078%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:15.078%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:15.081%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="6" style="border-bottom:1pt solid #000;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Profit &#47; (Loss) Attributable to Parent Company</font></td><td colspan="6" style="border-bottom:1pt solid #000;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:700;line-height:120%">% of Profit &#47; (Loss) Attributable to Parent Company (1)</font></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="12" style="border-top:1pt solid #000;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Three months ended March 31, </font></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:700;line-height:120%">2025</font></td><td colspan="3" style="border-bottom:1pt solid #000;border-top:1pt solid #000;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:700;line-height:120%">2024</font></td><td colspan="3" style="border-top:1pt solid #000;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:700;line-height:120%">2025</font></td><td colspan="3" style="border-bottom:1pt solid #000;border-top:1pt solid #000;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:700;line-height:120%">2024</font></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="6" style="border-top:1pt solid #000;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:700;line-height:120%">(In Millions of Euros)</font></td><td colspan="6" style="border-top:1pt solid #000;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:700;line-height:120%">(In Percentage)</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Spain</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%">1,024</font></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%">712</font></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%">35.2</font></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%">28.1</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Mexico</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%">1,332</font></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%">1,441</font></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%">45.8</font></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%">56.8</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Turkey</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%">158</font></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%">144</font></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%">5.4</font></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%">5.7</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%">South America</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%">218</font></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%">119</font></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%">7.5</font></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%">4.7</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Rest of Business</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%">173</font></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%">122</font></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%">6.0</font></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%">4.8</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Subtotal operating segments</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:700;line-height:120%">2,906</font></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:700;line-height:120%">2,539</font></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:700;line-height:120%">100.0</font></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:700;line-height:120%">100.0</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Corporate Center</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%">(208)</font></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%">(339)</font></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Profit attributable to parent company</font></td><td colspan="3" style="border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:700;line-height:120%">2,698</font></td><td colspan="3" style="border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:700;line-height:120%">2,200</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td></tr></table></div><div style="padding-left:17.86pt;text-align:justify;text-indent:-17.86pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(1) Based on subtotal from operating segments.</font></div><div style="margin-bottom:10pt;margin-top:10pt;text-align:justify;text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The following table sets forth certain summarized information relating to the income of each operating segment and the Corporate Center for the three months ended March 31, 2025 and 2024. Such information is presented under management criteria&#59; however, for the three months ended March 31, 2025 and 2024, there are no differences between the sum of the income statements of our operating segments and the Corporate Center (calculated in accordance with management criteria used to report segment financial information) and the consolidated income statement of the Group. For additional information on the income of each of BBVA&#8217;s operating segments and the Corporate Center, see &#8220;</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%">Operating and Financial Review and Prospects&#8212;Operating Results&#8212;BBVA Group results of operations for the three months ended March 31, 2025 compared with the three months ended March 31, 2024&#8212;Results of operations by operating segment for the three months ended March 31, 2025 compared with the three months ended March 31, 2024</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8221;.</font></div><div style="margin-bottom:6pt;margin-top:10pt;text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.893%"><tr><td style="width:1.0%"></td><td style="width:35.879%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:7.374%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:7.374%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:7.374%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:7.990%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:8.144%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.223%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:7.842%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="21" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Operating Segments</font></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000;padding:2px 7pt 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Spain</font></td><td colspan="3" style="border-bottom:1pt solid #000;border-top:1pt solid #000;padding:2px 7pt 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Mexico</font></td><td colspan="3" style="border-bottom:1pt solid #000;border-top:1pt solid #000;padding:2px 7pt 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Turkey</font></td><td colspan="3" style="border-bottom:1pt solid #000;border-top:1pt solid #000;padding:2px 7pt 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:700;line-height:120%">South America</font></td><td colspan="3" style="border-bottom:1pt solid #000;border-top:1pt solid #000;padding:2px 7pt 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Rest of Business</font></td><td colspan="3" style="border-bottom:1pt solid #000;border-top:1pt solid #000;padding:2px 7pt 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Corporate Center</font></td><td colspan="3" style="border-bottom:1pt solid #000;border-top:1pt solid #000;padding:2px 1pt;text-align:left;vertical-align:middle"><div style="margin-bottom:0.1pt;padding-left:6pt;text-align:right"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Total</font></div></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="21" style="border-top:1pt solid #000;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:700;line-height:120%">(In Millions of Euros)</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:700;line-height:120%">March 2025</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Net interest income &#47; (expense)</font></td><td colspan="3" style="padding:2px 7pt 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%">1,607</font></td><td colspan="3" style="padding:2px 7pt 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%">2,767</font></td><td colspan="3" style="padding:2px 7pt 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%">701</font></td><td colspan="3" style="padding:2px 7pt 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%">1,231</font></td><td colspan="3" style="padding:2px 7pt 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%">191</font></td><td colspan="3" style="padding:2px 7pt 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%">(99)</font></td><td colspan="3" style="padding:2px 7pt 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%">6,398</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Gross income</font></td><td colspan="3" style="padding:2px 7pt 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%">2,533</font></td><td colspan="3" style="padding:2px 7pt 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%">3,705</font></td><td colspan="3" style="padding:2px 7pt 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%">1,267</font></td><td colspan="3" style="padding:2px 7pt 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%">1,438</font></td><td colspan="3" style="padding:2px 7pt 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%">437</font></td><td colspan="3" style="padding:2px 7pt 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%">(55)</font></td><td colspan="3" style="padding:2px 7pt 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%">9,324</font></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Operating profit &#47; (loss) before tax</font></td><td colspan="3" style="padding:2px 7pt 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%">1,553</font></td><td colspan="3" style="padding:2px 7pt 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%">1,852</font></td><td colspan="3" style="padding:2px 7pt 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%">453</font></td><td colspan="3" style="padding:2px 7pt 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%">512</font></td><td colspan="3" style="padding:2px 7pt 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%">220</font></td><td colspan="3" style="padding:2px 7pt 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%">(242)</font></td><td colspan="3" style="padding:2px 7pt 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%">4,348</font></td></tr><tr><td colspan="3" style="border-top:1pt solid #000;padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Profit &#47; (loss) attributable to parent company</font></td><td colspan="3" style="border-top:1pt solid #000;padding:2px 7pt 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:700;line-height:120%">1,024</font></td><td colspan="3" style="border-top:1pt solid #000;padding:2px 7pt 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:700;line-height:120%">1,332</font></td><td colspan="3" style="border-top:1pt solid #000;padding:2px 7pt 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:700;line-height:120%">158</font></td><td colspan="3" style="border-top:1pt solid #000;padding:2px 7pt 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:700;line-height:120%">218</font></td><td colspan="3" style="border-top:1pt solid #000;padding:2px 7pt 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:700;line-height:120%">173</font></td><td colspan="3" style="border-top:1pt solid #000;padding:2px 7pt 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:700;line-height:120%">(208)</font></td><td colspan="3" style="border-top:1pt solid #000;padding:2px 7pt 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:700;line-height:120%">2,698</font></td></tr><tr><td colspan="3" style="border-top:1pt solid #000;padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:700;line-height:120%">March 2024</font></td><td colspan="3" style="border-top:1pt solid #000;padding:0 7pt 0 1pt"></td><td colspan="3" style="border-top:1pt solid #000;padding:0 7pt 0 1pt"></td><td colspan="3" style="border-top:1pt solid #000;padding:0 7pt 0 1pt"></td><td colspan="3" style="border-top:1pt solid #000;padding:0 7pt 0 1pt"></td><td colspan="3" style="border-top:1pt solid #000;padding:0 7pt 0 1pt"></td><td colspan="3" style="border-top:1pt solid #000;padding:0 7pt 0 1pt"></td><td colspan="3" style="border-top:1pt solid #000;padding:0 7pt 0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Net interest income &#47; (expense)</font></td><td colspan="3" style="background-color:#ffffff;padding:2px 7pt 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%">1,587</font></td><td colspan="3" style="background-color:#ffffff;padding:2px 7pt 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%">2,999</font></td><td colspan="3" style="background-color:#ffffff;padding:2px 7pt 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%">277</font></td><td colspan="3" style="background-color:#ffffff;padding:2px 7pt 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%">1,555</font></td><td colspan="3" style="background-color:#ffffff;padding:2px 7pt 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%">157</font></td><td colspan="3" style="background-color:#ffffff;padding:2px 7pt 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%">(64)</font></td><td colspan="3" style="padding:2px 7pt 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%">6,512</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Gross income</font></td><td colspan="3" style="background-color:#ffffff;padding:2px 7pt 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%">2,143</font></td><td colspan="3" style="background-color:#ffffff;padding:2px 7pt 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%">3,967</font></td><td colspan="3" style="background-color:#ffffff;padding:2px 7pt 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%">897</font></td><td colspan="3" style="background-color:#ffffff;padding:2px 7pt 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%">1,201</font></td><td colspan="3" style="background-color:#ffffff;padding:2px 7pt 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%">339</font></td><td colspan="3" style="background-color:#ffffff;padding:2px 7pt 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%">(329)</font></td><td colspan="3" style="padding:2px 7pt 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%">8,218</font></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Operating profit &#47; (loss) before tax</font></td><td colspan="3" style="background-color:#ffffff;padding:2px 7pt 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%">1,130</font></td><td colspan="3" style="background-color:#ffffff;padding:2px 7pt 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%">2,009</font></td><td colspan="3" style="background-color:#ffffff;padding:2px 7pt 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%">413</font></td><td colspan="3" style="background-color:#ffffff;padding:2px 7pt 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%">201</font></td><td colspan="3" style="background-color:#ffffff;padding:2px 7pt 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%">163</font></td><td colspan="3" style="background-color:#ffffff;padding:2px 7pt 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%">(459)</font></td><td colspan="3" style="padding:2px 7pt 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%">3,458</font></td></tr><tr><td colspan="3" style="border-bottom:1pt solid #000;border-top:1pt solid #000;padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Profit &#47; (loss) attributable to parent company</font></td><td colspan="3" style="background-color:#ffffff;border-bottom:1pt solid #000;border-top:1pt solid #000;padding:2px 7pt 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:700;line-height:120%">712</font></td><td colspan="3" style="background-color:#ffffff;border-bottom:1pt solid #000;border-top:1pt solid #000;padding:2px 7pt 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:700;line-height:120%">1,441</font></td><td colspan="3" style="background-color:#ffffff;border-bottom:1pt solid #000;border-top:1pt solid #000;padding:2px 7pt 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:700;line-height:120%">144</font></td><td colspan="3" style="background-color:#ffffff;border-bottom:1pt solid #000;border-top:1pt solid #000;padding:2px 7pt 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:700;line-height:120%">119</font></td><td colspan="3" style="background-color:#ffffff;border-bottom:1pt solid #000;border-top:1pt solid #000;padding:2px 7pt 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:700;line-height:120%">122</font></td><td colspan="3" style="background-color:#ffffff;border-bottom:1pt solid #000;border-top:1pt solid #000;padding:2px 7pt 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:700;line-height:120%">(339)</font></td><td colspan="3" style="border-bottom:1pt solid #000;border-top:1pt solid #000;padding:2px 7pt 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:700;line-height:120%">2,200</font></td></tr></table></div><div style="height:42.52pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="margin-bottom:10pt;text-align:center"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:133%">8</font></div></div></div><hr style="page-break-after:always"><div style="min-height:42.52pt;width:100%"><div style="margin-bottom:6pt;margin-top:0.03pt;padding-left:0.56pt;text-align:justify"><font><br></font></div></div><div style="margin-bottom:10pt;margin-top:10pt;text-align:justify;text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The following tables set forth summarized information relating to the balance sheet of the operating segments and the Corporate Center and adjustments as of March 31, 2025 and December 31, 2024&#58;</font></div><div style="margin-bottom:6pt;margin-top:10pt;text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.893%"><tr><td style="width:1.0%"></td><td style="width:29.870%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:8.761%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:8.761%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:8.761%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:8.761%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:8.761%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:8.761%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:8.764%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="21" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:700;line-height:120%">As of March 31, 2025</font></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Spain</font></td><td colspan="3" style="border-bottom:1pt solid #000;border-top:1pt solid #000;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Mexico</font></td><td colspan="3" style="border-bottom:1pt solid #000;border-top:1pt solid #000;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Turkey</font></td><td colspan="3" style="border-bottom:1pt solid #000;border-top:1pt solid #000;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:700;line-height:120%">South America</font></td><td colspan="3" style="border-bottom:1pt solid #000;border-top:1pt solid #000;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Rest of Business</font></td><td colspan="3" style="border-bottom:1pt solid #000;border-top:1pt solid #000;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Total Operating Segments</font></td><td colspan="3" style="border-bottom:1pt solid #000;border-top:1pt solid #000;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Corporate Center and Adjustments (1)</font></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="21" style="border-top:1pt solid #000;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:700;line-height:120%">(In Millions of Euros)</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Total Assets</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:700;line-height:120%">405,324</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:700;line-height:120%">162,908</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:700;line-height:120%">85,975</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:700;line-height:120%">72,915</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:700;line-height:120%">64,826</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:700;line-height:120%">791,947</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:700;line-height:120%">(19,085)</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Cash, cash balances at central banks and other demand deposits</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%">13,230</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%">13,135</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%">10,536</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%">7,241</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%">6,499</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%">50,642</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%">(236)</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Financial assets at fair value (2)</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%">105,386</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%">49,525</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%">4,840</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%">11,216</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%">1,818</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%">172,783</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%">150</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Financial assets at amortized cost</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%">246,576</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%">93,824</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%">66,113</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%">50,372</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%">55,948</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%">512,832</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%">(398)</font></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 13pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Loans and advances to customers</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%">184,624</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%">88,522</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%">47,892</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%">47,515</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%">50,152</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%">418,705</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%">(1,440)</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Total Liabilities</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:700;line-height:120%">390,159</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:700;line-height:120%">150,793</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:700;line-height:120%">77,216</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:700;line-height:120%">65,626</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:700;line-height:120%">60,283</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:700;line-height:120%">744,076</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:700;line-height:120%">(30,476)</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Financial liabilities held for trading and designated at fair value through profit or loss</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%">68,956</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%">24,943</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%">1,854</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%">1,551</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%">550</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%">97,855</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%">(6,300)</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Financial liabilities at amortized cost - Customer deposits</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%">228,546</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%">86,731</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%">62,375</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%">50,317</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%">28,032</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%">456,001</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%">(293)</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Total Equity</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:700;line-height:120%">15,165</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:700;line-height:120%">12,115</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:700;line-height:120%">8,759</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:700;line-height:120%">7,289</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:700;line-height:120%">4,543</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:700;line-height:120%">47,872</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:700;line-height:120%">11,392</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Assets under management</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:700;line-height:120%">110,547</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:700;line-height:120%">58,655</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:700;line-height:120%">18,572</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:700;line-height:120%">8,559</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:700;line-height:120%">655</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:700;line-height:120%">196,988</font></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 13pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Mutual funds</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%">85,088</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%">53,844</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%">13,351</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%">8,559</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%">&#8212;</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%">160,842</font></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 13pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Pension funds</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%">25,459</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%">&#8212;</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%">5,221</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%">&#8212;</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%">655</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%">31,335</font></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 13pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Other placements</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%">&#8212;</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%">4,811</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%">&#8212;</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%">&#8212;</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%">&#8212;</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%">4,811</font></td><td colspan="3" style="padding:0 1pt"></td></tr></table></div><div style="padding-left:18pt;text-align:justify;text-indent:-18pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(1)</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:120%;padding-left:8.68pt">Includes balance sheet intra-group adjustments between the Corporate Center and the operating segments (see &#8220;</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-style:italic;font-weight:400;line-height:120%">Presentation of Financial Information&#8212;Changes in Intra-Group Adjustments</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:120%">&#8221; for information on such adjustments).</font></div><div style="margin-bottom:10pt;padding-left:18pt;text-align:justify;text-indent:-18pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(2)</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:120%;padding-left:8.68pt">Financial assets at fair value includes&#58; &#8220;Financial assets held for trading&#8221;, &#8220;Non-trading financial assets mandatorily at fair value through profit or loss&#8221;, &#8220;Financial assets designated at fair value through profit or loss&#8221; and &#8220;Financial assets at fair value through other comprehensive income&#8221;.</font></div><div style="margin-bottom:6pt;margin-top:10pt;text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.893%"><tr><td style="width:1.0%"></td><td style="width:29.870%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:8.761%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:8.761%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:8.761%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:8.761%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:8.761%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:8.761%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:8.764%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="21" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:700;line-height:120%">As of December 31, 2024</font></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Spain</font></td><td colspan="3" style="border-bottom:1pt solid #000;border-top:1pt solid #000;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Mexico</font></td><td colspan="3" style="border-bottom:1pt solid #000;border-top:1pt solid #000;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Turkey</font></td><td colspan="3" style="border-bottom:1pt solid #000;border-top:1pt solid #000;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:700;line-height:120%">South America</font></td><td colspan="3" style="border-bottom:1pt solid #000;border-top:1pt solid #000;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Rest of Business</font></td><td colspan="3" style="border-bottom:1pt solid #000;border-top:1pt solid #000;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Total Operating Segments</font></td><td colspan="3" style="border-bottom:1pt solid #000;border-top:1pt solid #000;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Corporate Center and Adjustments (1)</font></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="21" style="border-top:1pt solid #000;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:700;line-height:120%">(In Millions of Euros)</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Total Assets</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:700;line-height:120%">411,620</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:700;line-height:120%">168,470</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:700;line-height:120%">82,782</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:700;line-height:120%">73,997</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:700;line-height:120%">66,534</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:700;line-height:120%">803,404</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:700;line-height:120%">(31,002)</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Cash, cash balances at central banks and other demand deposits</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%">12,734</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%">12,564</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%">8,828</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%">8,906</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%">8,348</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%">51,379</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%">(234)</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Financial assets at fair value (2)</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%">109,569</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%">54,547</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%">4,503</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%">10,884</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%">1,627</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%">181,130</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%">(1,798)</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Financial assets at amortized cost</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%">237,279</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%">94,595</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%">64,893</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%">49,983</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%">56,013</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%">502,763</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%">(362)</font></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 13pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Loans and advances to customers</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%">179,667</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%">88,725</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%">48,299</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%">46,846</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%">50,392</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%">413,930</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%">(1,453)</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Total Liabilities</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:700;line-height:120%">396,475</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:700;line-height:120%">156,743</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:700;line-height:120%">74,537</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:700;line-height:120%">66,907</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:700;line-height:120%">61,501</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:700;line-height:120%">756,163</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:700;line-height:120%">(43,774)</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Financial liabilities held for trading and designated at fair value through profit or loss</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%">75,143</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%">30,885</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%">1,943</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%">2,060</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%">642</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%">110,674</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%">(9,131)</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Financial liabilities at amortized cost - Customer deposits</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%">226,391</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%">84,949</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%">58,095</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%">50,738</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%">27,432</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%">447,605</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%">41</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Total Equity</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:700;line-height:120%">15,145</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:700;line-height:120%">11,727</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:700;line-height:120%">8,245</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:700;line-height:120%">7,090</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:700;line-height:120%">5,033</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:700;line-height:120%">47,242</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:700;line-height:120%">12,772</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Assets under management</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:700;line-height:120%">108,694</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:700;line-height:120%">57,253</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:700;line-height:120%">18,076</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:700;line-height:120%">7,936</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:700;line-height:120%">645</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:700;line-height:120%">192,604</font></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 13pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Mutual funds</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%">82,852</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%">52,528</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%">12,949</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%">7,936</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%">&#8212;</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%">156,264</font></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 13pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Pension funds</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%">25,841</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%">&#8212;</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%">5,128</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%">&#8212;</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%">645</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%">31,614</font></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 13pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Other placements</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%">&#8212;</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%">4,726</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%">&#8212;</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%">&#8212;</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%">&#8212;</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%">4,726</font></td><td colspan="3" style="padding:0 1pt"></td></tr></table></div><div style="padding-left:18pt;text-align:justify;text-indent:-18pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(1)</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:120%;padding-left:8.68pt">Includes balance sheet intra-group adjustments between the Corporate Center and the operating segments (see &#8220;</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-style:italic;font-weight:400;line-height:120%">Presentation of Financial Information&#8212;Changes in Intra-Group Adjustments</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:120%">&#8221; for information on such adjustments).</font></div><div style="margin-bottom:10pt;padding-left:18pt;text-align:justify;text-indent:-18pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(2)</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:120%;padding-left:8.68pt">Financial assets at fair value includes&#58; &#8220;Financial assets held for trading&#8221;, &#8220;Non-trading financial assets mandatorily at fair value through profit or loss&#8221;, &#8220;Financial assets designated at fair value through profit or loss&#8221; and &#8220;Financial assets at fair value through other comprehensive income&#8221;.</font></div><div style="height:42.52pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="margin-bottom:10pt;text-align:center"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:133%">9</font></div></div></div><hr style="page-break-after:always"><div style="min-height:42.52pt;width:100%"><div style="margin-bottom:6pt;margin-top:0.03pt;padding-left:0.56pt;text-align:justify"><font><br></font></div></div><div style="margin-bottom:10pt;margin-top:10pt;text-align:justify;text-indent:18pt"><font id="icedae4e9d7c84e83ad6324b576edc57d_29984"></font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Spain</font></div><div style="margin-bottom:10pt;margin-top:10pt;text-align:justify;text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">This operating segment includes all of BBVA&#8217;s banking and non-banking businesses in Spain, other than those included in the Corporate Center. The primary business units included in this operating segment are&#58;</font></div><div style="margin-bottom:10pt;margin-top:10pt;padding-left:36pt;text-align:justify;text-indent:-18pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%;padding-left:14.5pt">Spanish Retail Network</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#58; including individual customers, private banking, small companies and businesses in the domestic market&#59;</font></div><div style="margin-bottom:10pt;margin-top:10pt;padding-left:36pt;text-align:justify;text-indent:-18pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%;padding-left:14.5pt">Corporate and Business Banking</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#58; which manages small and medium sized enterprises (&#8220;</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:120%">SMEs</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8221;), companies and corporations, and public institutions&#59;</font></div><div style="margin-bottom:10pt;margin-top:10pt;padding-left:36pt;text-align:justify;text-indent:-18pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%;padding-left:14.5pt">Corporate and Investment Banking</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#58; responsible for business with large corporations and multinational groups and the trading floor and distribution business in Spain&#59; and</font></div><div style="margin-bottom:10pt;margin-top:10pt;padding-left:36pt;text-align:justify;text-indent:-18pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%;padding-left:14.5pt">Other units&#58;</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> which includes the insurance business unit in Spain (BBVA Seguros) as well as the Group&#8217;s shareholding in Compa&#241;&#237;a de Seguros y Reaseguros, S.A., the Asset Management unit (which manages Spanish mutual funds and pension funds), lending to real estate developers and foreclosed real estate assets in Spain, as well as certain proprietary portfolios and certain funding and structural interest-rate positions of the euro balance sheet which are not included in the Corporate Center.</font></div><div style="margin-bottom:10pt;margin-top:10pt;text-align:justify;text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Cash, cash balances at central banks and other demand deposits amounted to &#8364;13,230 million as of March 31, 2025, a 3.9% increase compared with the &#8364;12,734 million recorded as of December 31, 2024, mainly due to increases in cash held with other financial institutions, through other demand deposits, with a view to increasing liquidity for making disbursements, partially offset by a decrease in cash held at the European Central Bank.</font></div><div style="margin-bottom:10pt;margin-top:10pt;text-align:justify;text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Financial assets at fair value of this operating segment (which includes the following portfolios&#58; &#8220;Financial assets held for trading&#8221;, &#8220;Non-trading financial assets mandatorily at fair value through profit or loss&#8221;, &#8220;Financial assets designated at fair value through profit or loss&#8221; and &#8220;Financial assets at fair value through other comprehensive income&#8221;) amounted to &#8364;105,386 million as of March 31, 2025, a 3.8% decrease from the &#8364;109,569 million recorded as of December 31, 2024, mainly as a result of the decrease in derivatives recorded under &#8220;Financial assets held for trading&#8221;, in the context of a relatively stable interest rate environment.</font></div><div style="margin-bottom:10pt;margin-top:10pt;text-align:justify;text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Financial assets at amortized cost of this operating segment as of March 31, 2025 amounted to &#8364;246,576 million, a 3.9% increase compared with the &#8364;237,279 million recorded as of December 31, 2024. Within this heading, loans and advances to customers amounted to &#8364;184,624 million as of March 31, 2025, a 2.8% increase compared with the &#8364;179,667 million recorded as of December 31, 2024, mainly due to the increases in corporate and business banking, corporate and investment banking and loans to non-financial enterprises. In addition, within this heading, debt securities of this operating segment as of March 31, 2025 amounted to &#8364;47,894 million, an 11.9% increase compared with the &#8364;42,791 million recorded as of December 31, 2024, mainly as a result of an increase in Spanish sovereign debt securities recorded as &#8220;Financial assets at amortized cost&#8221;.</font></div><div><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:112%">Financial liabilities held for trading and designated at fair value through profit or loss of this operating segment as of March 31, 2025 amounted to &#8364;68,956 million, an 8.2% decrease compared with the &#8364;75,143 million recorded as of December 31, 2024, mainly due to the decrease in derivatives recorded under &#8220;Financial liabilities held for trading&#8221;, in the context of a relatively stable interest rate environment.</font></div><div style="margin-bottom:10pt;margin-top:10pt;text-align:justify;text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Customer deposits at amortized cost of this operating segment as of March 31, 2025 amounted to &#8364;228,546 million, a 1.0% increase compared with the &#8364;226,391 million recorded as of December 31, 2024. The increase mainly related to time deposits.</font></div><div style="margin-bottom:10pt;margin-top:10pt;text-align:justify;text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Off-balance sheet funds of this operating segment (which includes &#8220;Mutual funds&#8221; (including customers&#8217; portfolios) and &#8220;Pension funds&#8221;) as of March 31, 2025 amounted to &#8364;110,547 million, a 1.7% increase compared with the &#8364;108,694 million recorded as of December 31, 2024, mainly due to the increase in mutual funds.</font></div><div style="margin-bottom:10pt;margin-top:10pt;text-align:justify;text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">This operating segment&#8217;s non-performing loan ratio (defined as non-performing loans divided by total credit risk and calculated as the sum of impaired loans and advances to customers, impaired guarantees to customers and other impaired commitments divided by the sum of loans and advances to customers, guarantees to customers and other commitments) decreased to 3.5% as of March 31, 2025 from 3.7% as of December 31, 2024. This ratio was positively affected by higher write-offs and, to a lesser extent, increases in corporate and business banking, corporate and investment banking and loans to non-financial enterprises, and negatively affected by modestly higher net entries in non-performing loans. This operating segment&#8217;s non-performing loan coverage ratio (defined as allowance for credit losses divided by non-performing loans and calculated as loss allowances on loans and advances divided by the sum of impaired loans and advances to customers, impaired guarantees to customers and other impaired commitments) increased to 61% as of March 31, 2025 from 59% as of December 31, 2024.</font></div><div style="height:42.52pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="margin-bottom:10pt;text-align:center"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:133%">10</font></div></div></div><hr style="page-break-after:always"><div style="min-height:42.52pt;width:100%"><div style="margin-bottom:6pt;margin-top:0.03pt;padding-left:0.56pt;text-align:justify"><font><br></font></div></div><div style="margin-bottom:10pt;margin-top:10pt;text-align:justify;text-indent:18pt"><font id="icedae4e9d7c84e83ad6324b576edc57d_30016"></font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Mexico</font></div><div style="margin-bottom:10pt;margin-top:10pt;text-align:justify;text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Mexico operating segment includes the banking, insurance and asset management business conducted in Mexico by BBVA Mexico. It also includes BBVA Mexico&#8217;s agency in Houston.</font></div><div style="margin-bottom:10pt;margin-top:10pt;text-align:justify;text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Mexican peso depreciated </font><font style="background-color:#ffffff;color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">2.3%</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> against the euro as of March 31, 2025 compared with December 31, 2024, negatively affecting the business activity of the Mexico operating segment as of March 31, 2025 expressed in euros. See &#8220;</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%">Operating and Financial Review and Prospects&#8213;Operating Results&#8213;Factors Affecting the Comparability of our Results of Operations and Financial Condition&#8213;Trends in Exchange Rates</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8221;.</font></div><div style="margin-bottom:10pt;margin-top:10pt;text-align:justify;text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Cash, cash balances at central banks and other demand deposits amounted to &#8364;13,135 million as of March 31, 2025, a 4.5% increase compared with the &#8364;12,564 million recorded as of December 31, 2024, mainly due to increases in cash balances held in U.S. dollars at the Federal Reserve (&#8220;</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Fed</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8221;), mainly driven by the issuance of long-term debt and increasing volumes of foreign exchange swaps, partially offset by the reduction of repurchase agreements and the depreciation of the Mexican peso against the euro.</font></div><div style="margin-bottom:10pt;margin-top:10pt;text-align:justify;text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Financial assets at fair value of this operating segment (which includes the following portfolios&#58; &#8220;Financial assets held for trading&#8221;, &#8220;Non-trading financial assets mandatorily at fair value through profit or loss&#8221;, &#8220;Financial assets designated at fair value through profit or loss&#8221; and &#8220;Financial assets at fair value through other comprehensive income&#8221;) as of March 31, 2025 amounted to &#8364;49,525 million, a 9.2% decrease from the &#8364;54,547 million recorded as of December 31, 2024, mainly due to decreases in governments bonds driven in part by decreases in interest reference rates by the Mexican Central Bank (&#8220;</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:120%">BANXICO</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8221;) and the depreciation of the Mexican peso against the euro.</font></div><div style="margin-bottom:10pt;margin-top:10pt;text-align:justify;text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Financial assets at amortized cost of this operating segment as of March 31, 2025 amounted to &#8364;93,824 million, a 0.8% decrease compared with the &#8364;94,595 million recorded as of December 31, 2024. Within this heading, loans and advances to customers of this operating segment as of March 31, 2025 amounted to &#8364;88,522 million, a 0.2% decrease compared with the &#8364;88,725 million recorded as of December 31, 2024, mainly attributable to the depreciation of the Mexican peso against the euro, partially offset by the increase in loans to SMEs supported by specific initiatives aimed at promoting this portfolio and increases in consumer loans.</font></div><div style="margin-bottom:10pt;margin-top:10pt;text-align:justify;text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Financial liabilities held for trading and designated at fair value through profit or loss of this operating segment as of March 31, 2025 amounted to &#8364;24,943 million, a 19.2% decrease compared with the &#8364;30,885 million recorded as of December 31, 2024, mainly as a result of the decrease in deposits from BANXICO (through repurchase agreements) recorded under &#8220;Financial liabilities held for trading&#8221; and, to a lesser extent, the depreciation of the Mexican peso against the euro.</font></div><div style="margin-bottom:10pt;margin-top:10pt;text-align:justify;text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Customer deposits at amortized cost of this operating segment as of March 31, 2025 amounted to &#8364;86,731 million, a 2.1% increase compared with the &#8364;84,949 million recorded as of December 31, 2024, mainly as a result of increases in demand deposits (which bear a lower cost for BBVA than time deposits), partially offset by the depreciation of the Mexican peso against the euro.</font></div><div style="margin-bottom:10pt;margin-top:10pt;text-align:justify;text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Off-balance sheet funds of this operating segment (which includes &#8220;Mutual funds&#8221; (including customers&#8217; portfolios) and &#8220;Other placements&#8221;) as of March 31, 2025 amounted to &#8364;58,655 million, a 2.4% increase compared with the &#8364;57,253 million as of December 31, 2024, mainly as a result of the continuing search by customers for higher profitability investments, which continued to boost mutual funds, partially offset by the depreciation of the Mexican peso against the euro.</font></div><div style="margin-bottom:10pt;margin-top:10pt;text-align:justify;text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">This operating segment&#8217;s non-performing loan ratio (as defined herein) decreased to 2.4% as of March 31, 2025 from 2.7% as of December 31, 2024 mainly due to lower net entries in non-performing loans and higher write-offs. As a result thereof, this operating segment&#8217;s non-performing loan coverage ratio (as defined herein) increased to 129% as of March 31, 2025 from 121% as of December 31, 2024.</font></div><div style="height:42.52pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="margin-bottom:10pt;text-align:center"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:133%">11</font></div></div></div><hr style="page-break-after:always"><div style="min-height:42.52pt;width:100%"><div style="margin-bottom:6pt;margin-top:0.03pt;padding-left:0.56pt;text-align:justify"><font><br></font></div></div><div style="margin-bottom:10pt;margin-top:10pt;text-align:justify;text-indent:18pt"><font id="icedae4e9d7c84e83ad6324b576edc57d_29961"></font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Turkey</font></div><div style="margin-bottom:10pt;margin-top:10pt;text-align:justify;text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">This operating segment comprises the activities carried out by Garanti BBVA as an integrated financial services group operating in the banking, insurance and asset management business in Turkey, including corporate, commercial, SME, payment systems, retail, private and investment banking, together with its subsidiaries in pension and life insurance, leasing, factoring, brokerage and asset management, as well as its international subsidiaries in Romania and the Netherlands.</font></div><div style="margin-bottom:10pt;margin-top:10pt;text-align:justify;text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Turkish lira depreciated 10.5% against the euro as of March 31, 2025 compared to December 31, 2024, adversely affecting the business activity of the Turkey operating segment as of March 31, 2025 expressed in euros. See &#8220;</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%">Operating and Financial Review and Prospects&#8213;Operating Results&#8213;Factors Affecting the Comparability of our Results of Operations and Financial Condition&#8213;Trends in Exchange Rates</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8221;.</font></div><div style="margin-bottom:10pt;margin-top:10pt;text-align:justify;text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Since the first half of 2022, the Turkish economy has been considered to be hyperinflationary as defined by IAS 29 &#8220;Financial Reporting in Hyperinflationary Economies&#8221;. See &#8220;</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%">Presentation of Financial Information&#8212;Hyperinflationary Economies</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8221; for information on the impact of hyperinflation accounting.</font></div><div style="margin-bottom:10pt;margin-top:10pt;text-align:justify;text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">BBVA&#8217;s operations in Turkey are subject to substantial regulation by Turkish national authorities. See &#8220;</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%">Other Matters&#8212;Regulatory Update for Turkey</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8221; for information on certain regulations that are relevant to our operations.</font></div><div style="margin-bottom:10pt;margin-top:10pt;text-align:justify;text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Cash, cash balances at central banks and other demand deposits amounted to &#8364;10,536 million as of March 31, 2025, a 19.3% increase compared with the &#8364;8,828 million recorded as of December 31, 2024, mainly due to the increase in cash obtained from customer deposits, both in Turkish-lira and foreign currency, partially offset by the reduction in repurchase agreements and the depreciation of the Turkish lira against the euro.</font></div><div style="margin-bottom:10pt;margin-top:10pt;text-align:justify;text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Financial assets at fair value of this operating segment (which includes the following portfolios&#58; &#8220;Financial assets held for trading&#8221;, &#8220;Non-trading financial assets mandatorily at fair value through profit or loss&#8221;, &#8220;Financial assets designated at fair value through profit or loss&#8221; and &#8220;Financial assets at fair value through other comprehensive income&#8221;) as of March 31, 2025 amounted to &#8364;4,840 million, a 7.5% increase from the &#8364;4,503 million recorded as of December 31, 2024, mainly due to increases in local currency-denominated debt securities, whose valuation increased supported by the decrease in interest reference rates during the first three months ended March 31, 2025, partially offset by the depreciation of the Turkish lira against the euro.</font></div><div style="margin-bottom:10pt;margin-top:10pt;text-align:justify;text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Financial assets at amortized cost of this operating segment as of March 31, 2025 amounted to &#8364;66,113 million, a 1.9% increase compared with the &#8364;64,893 million recorded as of December 31, 2024. Within this heading, loans and advances to customers of this operating segment as of March 31, 2025 amounted to &#8364;47,892 million, a 0.8% decrease compared with the &#8364;48,299 million recorded as of December 31, 2024, mainly due to the depreciation of the Turkish lira against the euro, partially offset by the increase in Turkish lira-denominated credit card loans and consumer loans, due, in part, to the measures adopted by the Turkish authorities to encourage Turkish lira-denominated loans (see </font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%">&#8220;Other Matters&#8212;Regulatory Update for Turkey&#8221;)</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">. In addition, within this heading, debt securities of this operating segment as of March 31, 2025 amounted to &#8364;6,893 million, a 7.1% decrease compared with the &#8364;7,417 million recorded as of December 31, 2024, mainly as a result of the depreciation of the Turkish lira against the euro, </font><font style="background-color:#ffffff;color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">partially offset by increases in local currency-denominated bonds as part of our liquidity management measures</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">. Further, loans and advances to central banks increased in the three months ended March 31, 2025, as a result of the increases in the volume of Turkish lira deposits and the continued existence of reserve ratio requirements in Turkish lira deposits established by the Central Bank of the Republic of Turkey (&#8220;</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:120%">CBRT</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8221;) (5% and 4% in September 2024 and November 2024, respectively).</font></div><div style="margin-bottom:10pt;margin-top:10pt;text-align:justify;text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Financial liabilities held for trading and designated at fair value through profit or loss of this operating segment as of March 31, 2025 amounted to &#8364;1,854 million, a 4.6% decrease compared with the &#8364;1,943 million recorded as of December 31, 2024, mainly due to the depreciation of the Turkish lira against the euro, partially offset by the increase in trading derivatives.</font></div><div style="margin-bottom:10pt;margin-top:10pt;text-align:justify;text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Customer deposits at amortized cost of this operating segment as of March 31, 2025 amounted to &#8364;62,375 million, a 7.4% increase compared with the &#8364;58,095 million recorded as of December 31, 2024, mainly due to increases in Turkish lira and U.S. dollar deposit</font><font style="background-color:#ffffff;color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">s</font><font style="background-color:#ffffff;color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%">,</font><font style="background-color:#ffffff;color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> mainly</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">, in the wholesale portfolio, partially offset by the depreciation of the Turkish lira against the euro.</font></div><div style="margin-bottom:10pt;margin-top:10pt;text-align:justify;text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Off-balance sheet funds of this operating segment (which includes &#8220;Mutual funds&#8221; and &#8220;Pension funds&#8221;) as of March 31, 2025 amounted to &#8364;18,572 million, a 2.7% increase compared with the &#8364;18,076 million as of December 31, 2024, mainly due to increases in mutual funds as a result of the shift towards higher profitability investments, partially offset by the depreciation of the Turkish lira against the euro.</font></div><div style="height:42.52pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="margin-bottom:10pt;text-align:center"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:133%">12</font></div></div></div><hr style="page-break-after:always"><div style="min-height:42.52pt;width:100%"><div style="margin-bottom:6pt;margin-top:0.03pt;padding-left:0.56pt;text-align:justify"><font><br></font></div></div><div style="margin-bottom:10pt;margin-top:10pt;text-align:justify;text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The non-performing loan ratio (as defined herein) of this operating segment increased to 3.2% as of March 31, 2025 from 3.1% as of December 31, 2024, mainly as a result of the increase in the balance of non-performing retail loans (mainly credit card and consumer loans) due to the increase in retail loans, offset, in part, by the sale of non-performing loan portfolios and certain recoveries from the wholesale loan portfolios. This operating segment&#8217;s non-performing loan coverage ratio (as defined herein) decreased to 93% as of March 31, 2025 from 96% as of December 31, 2024.</font></div><div style="margin-bottom:10pt;margin-top:10pt;text-align:justify;text-indent:18pt"><font id="icedae4e9d7c84e83ad6324b576edc57d_29890"></font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:120%">South America</font></div><div style="margin-bottom:10pt;margin-top:10pt;text-align:justify;text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The South America operating segment includes the Group&#8217;s banking, finance, insurance and asset management business mainly in Argentina, Chile, Colombia, Peru, Uruguay and Venezuela. It also includes a representative office in Santiago (Chile).</font></div><div style="margin-bottom:10pt;margin-top:10pt;text-align:justify;text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The main business units included in the South America operating segment are&#58;</font></div><div style="margin-bottom:10pt;margin-top:10pt;padding-left:34.85pt;text-align:justify;text-indent:-17.85pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%;padding-left:14.35pt">Retail and Corporate Banking</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#58; includes banks in Argentina, Colombia, Peru, Uruguay and Venezuela.</font></div><div style="margin-bottom:10pt;margin-top:10pt;padding-left:36pt;text-align:justify;text-indent:-18pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%;padding-left:14.5pt">Insurance</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%">&#58;</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> includes insurance businesses in Argentina, Colombia and Venezuela.</font></div><div style="margin-bottom:10pt;margin-top:10pt;text-align:justify;text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">As of March 31, 2025, the Argentine peso and the Peruvian sol depreciated against the euro by 7.6% and 1.3%, respectively, compared to December 31, 2024. On the other hand, the Colombian peso appreciated against the euro by 1.0% compared to December 31, 2024. Overall, changes in exchange rates resulted in a negative exchange rate effect on the business activity of the South America operating segment as of March 31, 2025 expressed in euros. See &#8220;</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%">Operating and Financial Review and Prospects&#8213;Operating Results&#8213;Factors Affecting the Comparability of our Results of Operations and Financial Condition&#8213;Trends in Exchange Rates</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8221;. </font></div><div style="margin-bottom:10pt;margin-top:10pt;text-align:justify;text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">As of March 31, 2025 and December 31, 2024, the Argentine and Venezuelan economies were considered to be hyperinflationary as defined by IAS 29 &#8220;Financial Reporting in Hyperinflationary Economies&#8221;. See Note 2.2.18 to the Consolidated Financial Statements for information on the application of IAS 29 &#8220;Financial Reporting in Hyperinflationary Economies&#8221; to hyperinflationary economies.</font></div><div style="margin-bottom:10pt;margin-top:10pt;text-align:justify;text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Cash, cash balances at central banks and other demand deposits as of March 31, 2025 amounted to &#8364;7,241 million, an 18.7% decrease compared with the &#8364;8,906 million recorded as of December 31, 2024, mainly due to an increase in the credit gap (as deposits decreased while loans increased) in the region, decreases in repurchase agreements in Peru and Colombia and the depreciation of the Argentine peso against the euro.</font></div><div style="margin-bottom:10pt;margin-top:10pt;text-align:justify;text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Financial assets at fair value for this operating segment (which includes the following portfolios&#58; &#8220;Financial assets held for trading&#8221;, &#8220;Non-trading financial assets mandatorily at fair value through profit or loss&#8221;, &#8220;Financial assets designated at fair value through profit or loss&#8221; and &#8220;Financial assets at fair value through other comprehensive income&#8221;) as of March 31, 2025 amounted to &#8364;11,216 million, a 3.0% increase compared with the &#8364;10,884 million recorded as of December 31, 2024, mainly due to the increase of debt securities in Argentina, partially offset by the depreciation of the Argentine peso against the euro.</font></div><div style="margin-bottom:10pt;margin-top:10pt;text-align:justify;text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Financial assets at amortized cost of this operating segment as of March 31, 2025 amounted to &#8364;50,372 million, a 0.8% increase compared with the &#8364;49,983 million recorded as of December 31, 2024. Within this heading, loans and advances to customers of this operating segment as of March 31, 2025 amounted to &#8364;47,515 million, a 1.4% increase compared with the &#8364;46,846 million recorded as of December 31, 2024, mainly as a result of the increase in loans to enterprises and households in Argentina, partially offset by decreases in retail loans in Peru and the depreciation of the Argentine peso and the Peruvian sol against the euro.</font></div><div style="margin-bottom:10pt;margin-top:10pt;text-align:justify;text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Financial liabilities held for trading and designated at fair value through profit or loss of this operating segment as of March 31, 2025 amounted to &#8364;1,551 million, <font id="icedae4e9d7c84e83ad6324b576edc57d_29963"></font>a 24.7% decrease compared with the &#8364;2,060 million recorded as of December 31, 2024, mainly due to the decrease in deposits recorded as &#8220;Financial liabilities held for trading&#8221; in Colombia, as a result, in part, of a gradual reduction in interest rates, which could have led investors to shift their funds toward higher-yielding financial instruments.</font></div><div style="margin-bottom:10pt;margin-top:10pt;text-align:justify;text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Customer deposits at amortized cost of this operating segment as of March 31, 2025 amounted to &#8364;50,317 million, a 0.8% decrease compared with the &#8364;50,738 million recorded as of December 31, 2024.</font></div><div style="margin-bottom:10pt;margin-top:10pt;text-align:justify;text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Off-balance sheet funds of this operating segment (which includes &#8220;Mutual funds&#8221;, including customers&#8217; portfolios, in Argentina, Colombia and Peru) as of March 31, 2025 amounted to &#8364;8,559 million, a 7.8% increase compared with the &#8364;7,936 million as of December 31, 2024, mainly due to our strategy to boost private banking activities in the region, investors&#8217; search for more liquid and profitable instruments, partially offset by the depreciation of the Argentine peso against the euro.</font></div><div style="height:42.52pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="margin-bottom:10pt;text-align:center"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:133%">13</font></div></div></div><hr style="page-break-after:always"><div style="min-height:42.52pt;width:100%"><div style="margin-bottom:6pt;margin-top:0.03pt;padding-left:0.56pt;text-align:justify"><font><br></font></div></div><div style="margin-bottom:10pt;margin-top:10pt;text-align:justify;text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The non-performing loan ratio (as defined herein) of this operating segment decreased to 4.3% as of March 31, 2025 from 4.5% as of December 31, 2024, mainly as a result of the decrease in non-performing loans, and higher write-offs in Peru and Colombia. This operating segment&#8217;s non-performing loan coverage ratio (as defined herein) increased to 90% as of March 31, 2025, from 88% as of December 31, 2024 as a result of the abovementioned decrease in non-performing loans.</font></div><div style="margin-bottom:10pt;margin-top:10pt;text-align:justify;text-indent:18pt"><font id="icedae4e9d7c84e83ad6324b576edc57d_30011"></font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Rest of Business</font></div><div style="margin-bottom:10pt;margin-top:10pt;text-align:justify;text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">This operating segment mainly includes the wholesale activity carried out by the Group in Europe (excluding Spain), the United States and (through BBVA branches located therein) Asia.</font></div><div style="margin-bottom:10pt;margin-top:10pt;text-align:justify;text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The U.S. dollar depreciated 3.9% against the euro as of March 31, 2025 compared to December 31, 2024, adversely affecting the business activity of the Rest of Business operating segment as of March 31, 2025 expressed in euros. See &#8220;</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%">Operating and Financial Review and Prospects&#8213;Operating Results&#8213;Factors Affecting the Comparability of our Results of Operations and Financial Condition&#8213;Trends in Exchange Rates</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8221;.</font></div><div style="margin-bottom:10pt;margin-top:10pt;text-align:justify;text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Cash, cash balances at central banks and other demand deposits as of March 31, 2025 amounted to &#8364;6,499 million, a 22.1% decrease compared with the &#8364;8,348 million recorded as of December 31, 2024, mainly due to the decrease in cash balances held at central banks within this operating segment, in particular, at the Fed, due in part to lower interest rates in the United States, supporting the shift towards liquid trading assets, which typically offer higher short-term yields, and the increased grant of loans on a constant exchange rates basis.</font></div><div style="margin-bottom:10pt;margin-top:10pt;text-align:justify;text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Financial assets at fair value for this operating segment (which includes the following portfolios&#58; &#8220;Financial assets held for trading&#8221;, &#8220;Non-trading financial assets mandatorily at fair value through profit or loss&#8221;, &#8220;Financial assets designated at fair value through profit or loss&#8221; and &#8220;Financial assets at fair value through other comprehensive income&#8221;) as of March 31, 2025 amounted to &#8364;1,818 million, an 11.7% increase compared with the &#8364;1,627 million recorded as of December 31, 2024, mainly due to the increase in loans and advances (through reverse repurchase agreements) recorded under &#8220;Financial assets held for trading&#8221; in BBVA Securities Inc., our broker-dealer in the United States, and increases in debt securities in the New York branch, partially offset by the depreciation of the U.S. dollar against the euro.</font></div><div style="margin-bottom:10pt;margin-top:10pt;text-align:justify;text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Financial assets at amortized cost of this operating segment as of March 31, 2025 amounted to &#8364;55,948 million, a 0.1% decrease compared with the &#8364;56,013 million recorded as of December 31, 2024. Within this heading, loans and advances to customers of this operating segment as of March 31, 2025 amounted to &#8364;50,152 million, a 0.5% decrease compared with the &#8364;50,392 million recorded as of December 31, 2024, mainly due to the depreciation of the U.S. dollar against the euro. </font></div><div style="margin-bottom:10pt;margin-top:10pt;text-align:justify;text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Financial liabilities held for trading and designated at fair value through profit or loss of this operating segment as of March 31, 2025 amounted to &#8364;550 million, a 14.3% decrease compared with the &#8364;642 million recorded as of December 31, 2024, mainly due to the decrease in deposits  recorded under &#8220;financial liabilities held for trading&#8221; and, to a lesser extent, the depreciation of the U.S. dollar against the euro.</font></div><div style="margin-bottom:10pt;margin-top:10pt;text-align:justify;text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Customer deposits at amortized cost of this operating segment as of March 31, 2025 amounted to &#8364;28,032 million, a 2.2% increase compared with the &#8364;27,432 million recorded as of December 31, 2024, mainly as a result of the growth in demand deposits in the branches located in Europe, partially offset by the depreciation of the U.S. dollar against the euro.</font></div><div style="margin-bottom:10pt;margin-top:10pt;text-align:justify;text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Off-balance sheet funds of this operating segment as of March 31, 2025 amounted to &#8364;655 million, a 1.6% increase compared with the &#8364;645 million recorded as of December 31, 2024.</font></div><div style="margin-bottom:10pt;margin-top:10pt;text-align:justify;text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The non-performing loan ratio (as defined herein) of this operating segment was 0.3% as of March 31, 2025 and December 31, 2024, with each of non-performing loans and total credit risk decreasing compared to December 31, 2024. This operating segment&#8217;s non-performing loan coverage ratio (as defined herein) increased to 109% as of March 31, 2025 from 102% as of December 31, 2024 mainly as a result of the decrease in non-performing loans.</font></div><div style="height:42.52pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="margin-bottom:10pt;text-align:center"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:133%">14</font></div></div></div><div id="i4a27b892ded141958e799b2ba3298497_31"></div><hr style="page-break-after:always"><div style="min-height:42.52pt;width:100%"><div style="margin-bottom:6pt;margin-top:0.03pt;padding-left:0.56pt;text-align:justify"><font><br></font></div></div><div style="margin-bottom:10pt;margin-top:10pt;text-align:center"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:120%">OPERATING AND FINANCIAL REVIEW AND PROSPECTS</font></div><div id="i4a27b892ded141958e799b2ba3298497_34"></div><div style="margin-bottom:10pt;margin-top:10pt;text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Critical Accounting Policies</font></div><div style="margin-bottom:10pt;margin-top:10pt;text-align:justify;text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">For a description of our critical accounting policies, see Note 2 to the Unaudited Condensed Interim Consolidated Financial Statements, </font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%">&#8220;Item 5. Operating and Financial Review and Prospects&#8212;Critical Accounting Policies&#8221; </font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">in our 2024 Form 20-F and Note 2.2 to the Consolidated Financial Statements.</font></div><div style="margin-bottom:10pt;margin-top:10pt;text-align:justify;text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">We consider certain of our critical accounting policies to be particularly important due to their effect on the financial reporting of our financial condition and results of operations and because they require management to make difficult, complex or subjective judgments, some of which may relate to matters that are inherently uncertain. Our reported financial condition and results of operations are sensitive to accounting methods, assumptions and estimates that underlie the preparation of our consolidated financial statements. The nature of critical accounting policies, the judgments and other uncertainties affecting application of those policies and the sensitivity of reported results to changes in conditions and assumptions are factors to be considered when reviewing the Unaudited Condensed Interim Consolidated Financial Statements. For information on the estimates made by the Group in preparing the Unaudited Condensed Interim Consolidated Financial Statement, see Note 1.3 to the Unaudited Condensed Interim Consolidated Financial Statements.</font></div><div style="margin-bottom:10pt;margin-top:10pt;text-align:justify;text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">See Note 6.2 to the Unaudited Condensed Interim Consolidated Financial Statements for information on the measurement of expected credit loss.</font></div><div id="i4a27b892ded141958e799b2ba3298497_37"></div><div style="margin-bottom:10pt;margin-top:10pt;text-align:justify;text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Operating Results</font></div><div style="margin-bottom:10pt;margin-top:10pt;text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:120%">       Factors Affecting the Comparability of our Results of Operations and Financial Condition</font></div><div style="margin-bottom:10pt;margin-top:10pt;text-align:justify;text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Set forth below are the main factors that have affected the comparability of the Group&#8217;s results of operations for the three months ended March 31, 2025 and 2024, and the Group&#8217;s financial condition as of March 31, 2025 and December 31, 2024. Further to the factors referred to below, the future comparability of the Group&#8217;s results of operations and financial condition may be significantly affected by, among other factors, the completion of the Exchange Offer. See </font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%">&#8220;Other Matters&#8212;Offer to exchange 100% of the shares of Banco de Sabadell, S.A. for shares of Banco Bilbao Vizcaya Argentaria, S.A.</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8221;.</font></div><div style="margin-bottom:10pt;margin-top:10pt;text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Trends in Exchange Rates</font></div><div style="margin-bottom:10pt;margin-top:10pt;text-align:justify;text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">We are exposed to foreign exchange rate risk in that our reporting currency is the euro, whereas certain of our subsidiaries and investees have different functional and accounting currencies, principally the Mexican peso, Turkish lira, Argentine peso, Colombian peso, Peruvian sol and U.S. dollar. For example, if these currencies depreciate against the euro, when the results of operations of our subsidiaries in the countries using these currencies are included in our consolidated financial statements, the euro value of their results declines, even if, in local currency terms, their results of operations and financial condition have remained the same. By contrast, the appreciation of these currencies against the euro would have a positive impact on the results of operations of our subsidiaries in the countries using these currencies when their results of operations are included in our consolidated financial statements. Accordingly, changes in exchange rates may limit the ability of our results of operations, stated in euro, to fully show the performance in local currency terms of our subsidiaries.</font></div><div style="margin-bottom:10pt;margin-top:10pt;text-align:justify;text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Except with respect to hyperinflationary economies, where all the components of the financial statements (including income statement items) of the relevant subsidiaries (in each case, for any period in which the economy was considered to be hyperinflationary) are converted at the period-end exchange rate, the assets and liabilities of our subsidiaries which maintain their accounts in currencies other than the euro have been converted to the euro at the period-end exchange rates for inclusion in the Unaudited Condensed Interim Consolidated Financial Statements, and income statement items have been converted at the average exchange rates for the period. See Note 2.2.18 to the Consolidated Financial Statements for information on the application of IAS 29 &#8220;Financial Reporting in Hyperinflationary Economies&#8221;. The following table sets forth the exchange rates of the currencies of the main non-euro regions where we operate against the euro, expressed in local currency per &#8364;1.00 as averages for the three months ended March 31, 2025 and 2024, and as period-end exchange rates as of March 31, 2025 and December 31, 2024 according to the ECB.</font></div><div style="height:42.52pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="margin-bottom:10pt;text-align:center"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:133%">15</font></div></div></div><hr style="page-break-after:always"><div style="min-height:42.52pt;width:100%"><div style="margin-bottom:6pt;margin-top:0.03pt;padding-left:0.56pt;text-align:justify"><font><br></font></div></div><div style="margin-bottom:6pt;margin-top:10pt;text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.893%"><tr><td style="width:1.0%"></td><td style="width:19.393%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:18.776%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:18.776%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:18.776%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:18.779%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="6" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Average Exchange Rates</font></td><td colspan="6" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Period-End Exchange Rates (1)</font></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:700;line-height:120%">For the three months ended March 31, 2025</font></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:700;line-height:120%">For the three months ended March 31, 2024</font></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:700;line-height:120%">As of March 31, 2025</font></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:700;line-height:120%">As of December 31, 2024</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Mexican peso</font></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%">21.4988</font></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%">18.4409</font></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%">22.0627</font></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%">21.5504</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Turkish lira</font></td><td colspan="3" style="background-color:#e9e9e9;padding:0 1pt"></td><td colspan="3" style="background-color:#e9e9e9;padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%">41.0399</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%">36.7372</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%">U.S. dollar</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%">1.0523</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%">1.0857</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%">1.0815</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%">1.0389</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Argentine peso</font></td><td colspan="3" style="background-color:#e9e9e9;padding:0 1pt"></td><td colspan="3" style="background-color:#e9e9e9;padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%">1,160.8551</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%">1,072.6642</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Colombian peso</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%">4,411.0018</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%">4,253.7329</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%">4,534.2645</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%">4,580.6659</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Peruvian sol</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%">3.8905</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%">4.0789</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%">3.9550</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%">3.9027</font></td></tr></table></div><div style="padding-left:18pt;text-align:justify;text-indent:-18pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(1)</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:120%;padding-left:8.68pt">The period-end exchange rate as of March 31, 2024 of the Turkish lira and the Argentine peso against the euro was 34.9487 and 926.9532, respectively.</font></div><div style="margin-bottom:10pt;margin-top:10pt;text-align:justify;text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">During the three months ended March 31, 2025</font><font style="background-color:#ffffff;color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">, the </font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Turkish lira, the Argentine peso, </font><font style="background-color:#ffffff;color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">the Mexican peso</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> and, to a significantly</font><font style="background-color:#ffffff;color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> less extent, the Colombian peso, depreciated against the euro in average terms compared with the same period of the prior year. </font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">On the other hand, the Peruvian sol and the U.S. dollar appreciated against the euro in average terms. </font></div><div style="margin-bottom:10pt;margin-top:10pt;text-align:justify;text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">In terms of period-end exchange rates, the Turkish lira, the Argentine peso, the U.S. dollar, the Mexican peso, and the Peruvian sol depreciated against the euro compared with the exchange rates as of December 31, 2024. On the other hand, the Colombian peso appreciated against the euro in terms of period-end exchange rates. </font></div><div style="margin-bottom:10pt;margin-top:10pt;text-align:justify;text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The overall effect of changes in exchange rates was negative for the period-on-period comparison of the Group&#8217;s income statement (mainly due to the depreciation of the period-end exchange rates of the Argentine peso and the Turkish lira used to convert income statement items pursuant to IAS 21, and the depreciation of the Mexican peso) and balance sheet.</font></div><div style="margin-bottom:10pt;margin-top:10pt;text-align:justify;text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">When comparing two dates or periods in this report on Form 6-K we have sometimes excluded, where specifically indicated, the impact of changes in exchange rates by assuming constant exchange rates. In doing this, with respect to income statement amounts, we have used the average exchange rate for the more recent period for both periods (except with respect to hyperinflationary economies, where we have used the period-end exchange rate of the more recent period for both periods) and, with respect to balance sheet amounts, we have used the period-end exchange rate of the more recent period for both period ends.</font></div><div style="margin-bottom:10pt;text-align:justify;text-indent:18pt"><font id="i5a0c32713411434c830077b2a5fcbf6c_12011"></font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Macroeconomic and geopolitical conditions</font></div><div style="margin-bottom:10pt;margin-top:10pt;text-align:justify;text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Group is sensitive to the deterioration of economic conditions and the alteration of the institutional environment of the countries in which it operates, and the Group is exposed to sovereign debt especially in Spain, Mexico and Turkey.</font></div><div style="margin-bottom:10pt;margin-top:10pt;text-align:justify;text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The global economy is undergoing significant changes, driven primarily by the policies of the new U.S. administration. Uncertainty surrounding their consequences is exceptionally high, substantially increasing geopolitical, economic and financial risks.</font></div><div style="margin-bottom:10pt;margin-top:10pt;text-align:justify;text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The recent significant increase in either adopted or announced U.S. tariff on imports from its trade partners have triggered strong financial market volatility, reinforcing risks to the global economic outlook. High uncertainty about the final level and duration of these tariffs, together with the related financial instability, could negatively impact the world economy, worsening the prospects for the macroeconomic environment. As a result of adopted or announced tariffs, global growth could slow or decline. The impact on economic activity could be particularly pronounced in the United States and China, given China&#8217;s response to the measures announced by the U.S. government and the recent escalation in trade tensions between the United States and China, which could also weigh on other economies.</font></div><div style="margin-bottom:10pt;margin-top:10pt;text-align:justify;text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">While fiscal stimulus measures could partially offset the impact of trade protectionism, particularly in the Eurozone, where significant public spending increases have been announced, the impact of higher U.S. tariffs could be amplified by the adoption of retaliatory measures by other countries, sustained uncertainty, weakening confidence levels and evolving financial conditions, among other factors.</font></div><div style="margin-bottom:10pt;margin-top:10pt;text-align:justify;text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Increased tariffs would also raise the risk of inflation in the United States, potentially limiting the Federal Reserve&#8217;s room to cut interest rates in 2025. In contrast, weaker growth in the Eurozone could allow the European Central Bank to implement slightly larger-than-expected rate cuts, although this would also depend, among other factors, on the EU&#8217;s response to U.S. tariffs, which could create additional inflationary pressures.</font></div><div style="margin-bottom:10pt;margin-top:10pt;text-align:justify;text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Beyond higher import tariffs, tighter U.S. controls on migration flows could affect the labor market, add to inflationary pressures and weigh on economic growth. The new U.S. administration&#8217;s fiscal, regulatory, industrial and foreign policies, among others, could likewise contribute to financial and macroeconomic volatility.</font></div><div style="height:42.52pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="margin-bottom:10pt;text-align:center"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:133%">16</font></div></div></div><hr style="page-break-after:always"><div style="min-height:42.52pt;width:100%"><div style="margin-bottom:6pt;margin-top:0.03pt;padding-left:0.56pt;text-align:justify"><font><br></font></div></div><div style="margin-bottom:10pt;margin-top:10pt;text-align:justify;text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">In addition, there is a high risk of sovereign debt tensions, given the high debt levels in both developed and emerging countries, relatively high interest rates, and weak economic growth prospects.</font></div><div style="margin-bottom:10pt;margin-top:10pt;text-align:justify;text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Rising trade protectionism and the growing rivalry between the United States and China, among other factors, could intensify geopolitical tensions, against a backdrop of persistent conflicts in Ukraine and the Middle East. Similarly, recent negotiations aimed at ending the war between Ukraine and Russia could fuel global tensions in the long term, despite potentially having short-term benefits, including downward pressure on energy prices. In response to these risks and the changes in the foreign policy of the new U.S. administration, the European Union has adopted measures to increase military spending, which could support growth but, to some extent, add pressure on inflation and interest rates in the region.</font></div><div style="margin-bottom:10pt;margin-top:10pt;text-align:justify;text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Overall, rising global geopolitical tensions increase uncertainty around the outlook for the world economy and the likelihood of economic and financial disruptions, including an economic recession.</font></div><div style="margin-bottom:10pt;margin-top:10pt;text-align:justify;text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Group is exposed, among others, to the following general risks related to the economic and institutional environment in the countries where it operates&#58; a deterioration in economic activity, including potential recession scenarios&#59; inflationary pressures that could lead to tightening of monetary conditions&#59; stagflation triggered by intense or prolonged supply shocks, including as a result of a protectionist escalation or a sharp rise in oil and gas prices&#59; exchange rate volatility&#59; adverse developments in real estate markets&#59; changes in the institutional environment of the countries where the Group operates, which could lead to sudden and pronounced GDP contractions and&#47;or shifts in regulatory or government policy, including capital controls, dividend restrictions, or the imposition of new taxes or levies&#59; high levels of public debt or external deficits, which could lead to sovereign credit rating downgrades or even defaults or debt restructurings&#59; the impact of policies adopted by the new U.S. administration, about which significant uncertainty remains&#59; and episodes of financial market volatility, such as those seen recently, that could result in significant losses for the Group.</font></div><div style="margin-bottom:10pt;margin-top:10pt;text-align:justify;text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">In Spain, political, regulatory, and economic uncertainty may have a negative impact on economic activity. In Mexico, there is considerable uncertainty regarding the impact of recently approved constitutional reforms, as well as the policies of the new U.S. administration (especially if protectionist measures affect growth expectations). In Turkey, despite the gradual improvement in macroeconomic conditions, the situation remains relatively unstable, marked by pressure on the Turkish lira, high inflation, a significant trade deficit, relatively low central bank foreign exchange reserves, and high external financing costs. Recent political and social tensions could also trigger new episodes of financial volatility and macroeconomic risks. Moreover, uncertainty remains over the impact of the geopolitical situation in the Middle East&#8212;particularly in Syria&#8212;on Turkey. These factors could lead to a deterioration in the purchasing power and creditworthiness of the Group&#8217;s customers, both households and corporates. In addition, official interest rates, regulatory and macroprudential policies affecting the banking sector, and currency depreciation in Turkey have impacted and may continue to impact the Group&#8217;s results. In Argentina, the risk of economic and financial turmoil persists, as the government has substantially changed Argentina&#8217;s policy framework and is pursuing a strong fiscal and monetary adjustment to curb inflation. Lastly, in Colombia and Peru, climate-related factors, political tensions, and a deterioration of public finances could weigh on economic performance.</font></div><div style="margin-bottom:10pt;margin-top:10pt;text-align:justify;text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Furthermore, there is an increasing risk of sovereign debt tensions, given the high debt levels in developed and emerging countries, relatively high interest rates and weak economic growth prospects. </font></div><div style="margin-bottom:10pt;margin-top:10pt;text-align:justify;text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Any of these factors may have a significant adverse effect on the Group&#8217;s business, financial condition and results of operations.</font></div><div style="height:42.52pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="margin-bottom:10pt;text-align:center"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:133%">17</font></div></div></div><div id="i4a27b892ded141958e799b2ba3298497_43"></div><hr style="page-break-after:always"><div style="min-height:42.52pt;width:100%"><div style="margin-bottom:6pt;margin-top:0.03pt;padding-left:0.56pt;text-align:justify"><font><br></font></div></div><div style="margin-bottom:10pt;margin-top:10pt;text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:120%">BBVA Group results of operations for the three months ended March 31, 2025 compared with the three months ended March 31, 2024</font></div><div style="margin-bottom:10pt;margin-top:10pt;text-align:justify;text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The table below shows the Group&#8217;s unaudited condensed interim consolidated income statements for the three months ended March 31, 2025 and 2024.</font></div><div style="margin-bottom:6pt;margin-top:10pt;text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.893%"><tr><td style="width:1.0%"></td><td style="width:65.155%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:10.148%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:10.148%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:10.149%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="6" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:700;line-height:120%">For the three months ended March 31,</font></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:700;line-height:120%">2025</font></td><td colspan="3" style="border-bottom:1pt solid #000;border-top:1pt solid #000;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:700;line-height:120%">2024</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Change</font></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="6" style="border-top:1pt solid #000;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:700;line-height:120%">(In Millions of Euros)</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:700;line-height:120%">(In %)</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Interest and other income</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%">14,720</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%">14,979</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%">(1.7)</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Interest expense</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%">(8,321)</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%">(8,468)</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%">(1.7)</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Net interest income</font></td><td colspan="3" style="border-top:0.25pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:700;line-height:120%">6,398</font></td><td colspan="3" style="border-top:0.25pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:700;line-height:120%">6,512</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:700;line-height:120%">(1.7)</font></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Fee and commission income</font></td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%">3,297</font></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%">2,926</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%">12.7</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Fee and commission expense</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%">(1,237)</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%">(1,040)</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%">19.0</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Net gains (losses) on financial assets and liabilities (1)</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%">1,020</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%">589</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%">73.2</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Exchange differences, net</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%">(72)</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%">183</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%">n.m. (2)</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Other operating income</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%">177</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%">130</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%">36.9</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Other operating expense</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%">(648)</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%">(1,444)</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%">(55.1)</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Income on insurance and reinsurance contracts</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%">1,294</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%">1,093</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%">18.4</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Expense on insurance and reinsurance contracts</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%">(923)</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%">(745)</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%">23.9</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Gross income</font></td><td colspan="3" style="border-top:0.25pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:700;line-height:120%">9,324</font></td><td colspan="3" style="border-top:0.25pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:700;line-height:120%">8,218</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:700;line-height:120%">13.5</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Administration costs</font></td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%">(3,184)</font></td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%">(3,007)</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%">5.9</font></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 13pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Personnel expense</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%">(1,901)</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%">(1,778)</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%">6.9</font></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 13pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Other administrative expense</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%">(1,283)</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%">(1,229)</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%">4.4</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Depreciation and amortization</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%">(378)</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%">(375)</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%">0.8</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Net margin before provisions (3)</font></td><td colspan="3" style="border-top:0.25pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:700;line-height:120%">5,762</font></td><td colspan="3" style="border-top:0.25pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:700;line-height:120%">4,835</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:700;line-height:120%">19.2</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Provisions or reversal of provisions</font></td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%">(51)</font></td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%">(57)</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%">(11.5)</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Impairment or reversal of impairment on financial assets not measured at fair value through profit or loss or net gains by modification</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%">(1,385)</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%">(1,361)</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%">1.8</font></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Operating profit &#47; (loss) before tax</font></td><td colspan="3" style="border-top:0.25pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:700;line-height:120%">4,348</font></td><td colspan="3" style="border-top:0.25pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:700;line-height:120%">3,458</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:700;line-height:120%">25.8</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Tax expense or income related to profit or loss from continuing operations</font></td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%">(1,466)</font></td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%">(1,151)</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%">27.3</font></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Profit &#47; (loss)</font></td><td colspan="3" style="border-top:0.25pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:700;line-height:120%">2,882</font></td><td colspan="3" style="border-top:0.25pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:700;line-height:120%">2,307</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:700;line-height:120%">25.0</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Profit &#47; (loss) attributable to parent company</font></td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%">2,698</font></td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%">2,200</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%">22.7</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Profit &#47; (loss) attributable to non-controlling interests</font></td><td colspan="3" style="border-bottom:3pt double #000000;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%">184</font></td><td colspan="3" style="border-bottom:3pt double #000000;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%">107</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%">72.6</font></td></tr></table></div><div style="padding-left:18pt;text-align:justify;text-indent:-18pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(1)</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:120%;padding-left:8.68pt">Comprises the following income statement line items contained in the Unaudited Condensed Interim Consolidated Financial Statements&#58; &#8220;Gains (losses) on derecognition of financial assets and liabilities not measured at fair value through profit or loss, net&#8221;, &#8220;Gains (losses) on financial assets and liabilities held for trading, net&#8221;, &#8220;Gains (losses) on non-trading financial assets mandatorily at fair value through profit or loss, net&#8221;, &#8220;Gains (losses) on financial assets and liabilities designated at fair value through profit or loss, net&#8221; and &#8220;Gains (losses) from hedge accounting, net&#8221;.</font></div><div style="padding-left:18pt;text-align:justify;text-indent:-18pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(2)</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:120%;padding-left:8.68pt">Not meaningful.</font></div><div style="padding-left:18pt;text-align:justify;text-indent:-18pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(3)</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:120%;padding-left:8.68pt">Calculated as &#8220;Gross income&#8221; less &#8220;Administration costs&#8221; and &#8220;Depreciation and amortization&#8221;.</font></div><div style="margin-bottom:10pt;margin-top:10pt;text-align:justify;text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The changes in our unaudited condensed interim consolidated income statements for the three months ended March 31, 2025 compared with the same period of 2024 were as follows&#58;</font></div><div style="margin-bottom:10pt;margin-top:10pt;text-align:justify;text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%">Net interest income</font></div><div style="margin-bottom:10pt;margin-top:10pt;text-align:justify;text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Net interest income for the three months ended March 31, 2025 amounted to &#8364;6,398 million, a 1.7% decrease compared with the &#8364;6,512 million recorded for the three months ended March 31, 2024, mainly as a result of the depreciation in average terms of the currencies of the main countries where the Group operates, except for the U.S. dollar and the Peruvian sol, the lower yield in the securities portfolio and the lower yield and volume in the public sector loan portfolio in South America, particularly in Argentina driven in part, with respect to the yield, by the decline in the monetary policy rate in Argentina, partially offset by the higher volume and yield of Turkish lira-denominated loans</font><font style="background-color:#ffffff;color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">,</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> the increase in volume of sovereign debt securities, the higher customer spread in Turkey and, to a lesser extent, increases in the volume of the loan portfolio and lower wholesale funding costs in Mexico.</font></div><div style="height:42.52pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="margin-bottom:10pt;text-align:center"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:133%">18</font></div></div></div><hr style="page-break-after:always"><div style="min-height:42.52pt;width:100%"><div style="margin-bottom:6pt;margin-top:0.03pt;padding-left:0.56pt;text-align:justify"><font><br></font></div></div><div style="margin-bottom:10pt;margin-top:10pt;text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%">Fee and commission income</font></div><div style="margin-bottom:10pt;margin-top:10pt;text-align:justify;text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Fee and commission income increased by 12.7% to &#8364;3,297 million for the three months ended March 31, 2025 from the &#8364;2,926 million recorded for the three months ended March 31, 2024, primarily due to the increase in payment systems fees (fees related to credit and debit cards and points of sale (POS)) supported by the increase in the maximum credit card fees banks may charge in Turkey pursuant to the regulation established by the CBRT in November 2024 and, to a lesser extent, the fees resulting from the increased volumes of credit card transactions and asset management activities in Mexico and increases in payment systems-related fees (in particular, related to credit cards) in Argentina, as a result of increases in the volume of transactions and commission rates, partially offset by the depreciation of the currencies of the main countries where the Group operates in average terms, except for the U.S. dollar and the Peruvian sol. For additional information, see Note 31 to the Unaudited Condensed Interim Consolidated Financial Statements.</font></div><div style="margin-bottom:10pt;margin-top:10pt;text-align:justify;text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%">Fee and commission expense</font></div><div style="margin-bottom:10pt;margin-top:10pt;text-align:justify;text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Fee and commission expense increased by 19.0% to &#8364;1,237 million for the three months ended March 31, 2025 from the &#8364;1,040 million recorded for the three months ended March 31, 2024, primarily due to the increase in fees paid by the Group in connection with the increase in payment systems fees in Turkey, Mexico and Argentina (in particular, due to an increase in the volume of credit card transactions), and increases in brokerage fees in Mexico, partially offset by the depreciation of the currencies of the main countries where the Group operates in average terms, except for the U.S. dollar and the Peruvian sol. For additional information, see Note 31 to the Unaudited Condensed Interim Consolidated Financial Statements.</font></div><div style="margin-bottom:10pt;margin-top:10pt;text-align:justify;text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%">Net gains (losses) on financial assets and liabilities</font></div><div style="margin-bottom:10pt;margin-top:10pt;text-align:justify;text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Net gains on financial assets and liabilities increased to &#8364;1,020 million for the three months ended March 31, 2025, a 73.2% increase compared to the net gain of &#8364;589 million recorded for the three months ended March 31, 2024, mainly due to gains from certain foreign currency hedges (recorded in the ALCO portfolio of the Corporate Center) on the estimated results of the operating segments, resulting, to a great extent, from the evolution of the Mexican peso, and the gains from certain venture capital investments, partially offset by negative exchange differences, lower gains from the trading portfolio in Turkey and the depreciation of the currencies of the main countries where the Group operates in average terms, except for the U.S. dollar and the Peruvian sol. See Note 32 to our Unaudited Condensed Interim Consolidated Financial Statements for more information on net gains on financial assets and liabilities. </font></div><div style="margin-bottom:10pt;margin-top:10pt;text-align:justify;text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%">Exchange differences, net</font></div><div style="margin-bottom:10pt;margin-top:10pt;text-align:justify;text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Exchange differences for the three months ended March 31, 2025 amounted to a &#8364;72 million expense compared with the &#8364;183 million gain recorded for the three months ended March 31, 2024, mainly as a result of the </font><font style="background-color:#ffffff;color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">negative exchange differences, in particular, with respect to the U.S. dollar</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">, recorded in the Corporate Center.</font></div><div style="margin-bottom:10pt;margin-top:10pt;text-align:justify;text-indent:18pt"><font id="i672dab6cd66040fa94889fcc72b42c88_8666"></font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%">Other operating income and other operating expense</font></div><div style="margin-bottom:10pt;margin-top:10pt;text-align:justify;text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Other operating income for the three months ended March 31, 2025 increased by 36.9% to &#8364;177 million from &#8364;130 million recorded for the three months ended March 31, 2024, mainly due to higher gains from sales of non-financial services in Turkey.</font></div><div style="margin-bottom:10pt;margin-top:10pt;text-align:justify;text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Other operating expense for the three months ended March 31, 2025 amounted to &#8364;648 million, a 55.1% decrease compared with the &#8364;</font><font style="background-color:#ffffff;color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">1,444</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> million recorded for the three months ended March 31, 2024, mainly driven by the lower loss on the net monetary position resulting from the adjustment for hyperinflation in Argentina, which resulted in a monetary loss of &#8364;117 million in the three months ended March 31, 2025, compared to the &#8364;655 million monetary loss recorded for the three months ended March 31, 2024, the lower loss on the net monetary position resulting from the adjustment for hyperinflation in Turkey </font><font style="background-color:#ffffff;color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">(&#8364;348 million and &#8364;550 m</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">illion, respectively, for the three months ended March 31, 2025 and March 31, 2024) </font><font style="background-color:#ffffff;color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">and, to a lesser extent, the depreciation of the currencies of the main countries where the Group operates </font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">in average terms, except for the U.S. dollar and the Peruvian sol. In addition, other operating expense for the three months ended March 31, 2024 included a charge for the then-estimated impact of the temporary tax on credit institutions and financial credit establishments in Spain amounting to &#8364;285 million (which was paid in 2024), whereas the quarterly expense related to the new tax on the interest margin and commissions of certain financial entities was recorded under &#8220;Tax expense or income related to profit or loss from continuing operations&#8221; for the three months ended March 31, 2025. The period-on-period decrease was </font><font style="background-color:#ffffff;color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">partially offset by the lower positive impact of the revaluation of bonds linked to inflation in the period (&#8364;311</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> million and &#8364;</font><font style="background-color:#ffffff;color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">439</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> millio</font><font style="background-color:#ffffff;color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">n, respectively, in the </font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">three months</font><font style="background-color:#ffffff;color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> ended </font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">March 31, 2025</font><font style="background-color:#ffffff;color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> and </font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">2024).</font></div><div style="height:42.52pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="margin-bottom:10pt;text-align:center"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:133%">19</font></div></div></div><hr style="page-break-after:always"><div style="min-height:42.52pt;width:100%"><div style="margin-bottom:6pt;margin-top:0.03pt;padding-left:0.56pt;text-align:justify"><font><br></font></div></div><div style="margin-bottom:10pt;margin-top:10pt;text-align:justify;text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%">Income and expense on insurance and reinsurance contracts</font></div><div style="margin-bottom:10pt;margin-top:10pt;text-align:justify;text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Income on insurance and reinsurance contracts for the three months ended March 31, 2025 was &#8364;1,294 million, an 18.4% increase compared with the &#8364;1,093 million recorded for the three months ended March 31, 2024, mainly due to the increase in insurance premiums, attributable in part to higher insurance sales in Mexico and, to a lesser extent, in Turkey, partially offset by the depreciation of the currencies of the main countries where the Group operates in average terms, except for the U.S. dollar and the Peruvian sol.</font></div><div style="margin-bottom:10pt;margin-top:10pt;text-align:justify;text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Expense on insurance and reinsurance contracts for the three months ended March 31, 2025 was &#8364;923 million, a 23.9% increase compared with the &#8364;745 million expense recorded for the three months ended March 31, 2024, mainly as a result of higher insurance activity in Mexico, partially offset by the depreciation of the currencies of the main countries where the Group operates in average terms, except for the U.S. dollar and the Peruvian sol.</font></div><div style="margin-bottom:10pt;margin-top:10pt;text-align:justify;text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%">Administration costs</font></div><div style="margin-bottom:10pt;margin-top:10pt;text-align:justify;text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Administration costs, which include personnel expense and other administrative expense, for the three months ended March 31, 2025 amounted to &#8364;3,184 million, a 5.9% increase compared with the &#8364;3,007 million recorded for the three months ended March 31, 2024, mainly as a result of the higher salaries in Turkey, and the higher general expenses related mainly to IT in Turkey and South America, partially offset by the depreciation of the currencies of the main countries where the Group operates in average terms, except for the U.S. dollar and the Peruvian sol.</font></div><div style="margin-bottom:10pt;margin-top:10pt;text-align:justify;text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%">Depreciation and amortization</font></div><div style="margin-bottom:10pt;margin-top:10pt;text-align:justify;text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Depreciation and amortization for the three months ended March 31, 2025 was &#8364;378 million, a 0.8% increase compared with the &#8364;375 million recorded for the three months ended March 31, 2024, mainly due to increases in the depreciation expense related to IT equipment in Turkey, partially offset by the depreciation of the currencies of the main countries where the Group operates in average terms, except for the U.S. dollar and the Peruvian sol.</font></div><div style="margin-bottom:10pt;margin-top:10pt;text-align:justify;text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%">Provisions or reversal of provisions </font></div><div style="margin-bottom:10pt;margin-top:10pt;text-align:justify;text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Provisions or reversal of provisions for the three months ended March 31, 2025 amounted to an expense of &#8364;51 million, an 11.5% decrease</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">compared with the &#8364;57 million expense recorded for the three months ended March 31, 2024, mainly due to lower provisions for contingencies in South America and the depreciation of the currencies of the main countries where the Group operates in average terms, except for the U.S. dollar and the Peruvian sol. </font></div><div style="margin-bottom:10pt;margin-top:10pt;text-align:justify;text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%">Impairment or reversal of impairment on financial assets not measured at fair value through profit or loss or net gains by modification</font></div><div style="margin-bottom:10pt;margin-top:10pt;text-align:justify;text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Impairment or reversal of impairment on financial assets not measured at fair value through profit or loss or net gains by modification for the three months ended March 31, 2025 was an expense of &#8364;1,385 million, a 1.8% increase compared with the &#8364;1,361 million expense recorded for the three months ended March 31, 2024, mainly due to the increase in the expected losses related to the retail portfolio (mainly credit card and consumer loans, which volumes increased and also required higher credit impairments) in Turkey, increase in the volume of loans to SMEs, which implied higher credit requirements in Mexico, and the higher credit impairments in the household loan portfolio in Argentina as a result in part of the greater credit activity (as we increased private lending as a result of lower government borrowings), partially offset by lower credit impairment requirements in the household loan portfolio in Peru and, to a lesser extent, the retail loan portfolio in Spain, the higher reversal of impairment in the wholesale portfolio in Turkey and the depreciation of the currencies of the main countries where the Group operates in average terms, except for the U.S. dollar and the Peruvian sol.</font></div><div style="margin-bottom:10pt;margin-top:10pt;text-align:justify;text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%">Operating profit &#47; (loss) before tax</font></div><div style="margin-bottom:10pt;margin-top:10pt;text-align:justify;text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">As a result of the foregoing, operating profit before tax for the three months ended March 31, 2025 amounted to &#8364;4,348 million, a 25.8% increase compared with the &#8364;3,458 million recorded for the three months ended March 31, 2024.</font></div><div style="margin-bottom:10pt;margin-top:10pt;text-align:justify;text-indent:18pt"><font id="i672dab6cd66040fa94889fcc72b42c88_8646"></font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%">Tax expense or income related to profit or loss from continuing operations</font></div><div style="margin-bottom:10pt;margin-top:10pt;text-align:justify;text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Tax expense related to profit from continuing operations for the three months ended March 31, 2025 amounted to &#8364;1,466 million, a 27.3% increase compared with the &#8364;1,151 million expense recorded for the three months ended March 31, 2024, mainly due to the higher operating profit before tax in Spain, South America and, to a lesser extent, Turkey. </font></div><div style="margin-bottom:10pt;margin-top:10pt;text-align:justify;text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%">Profit &#47; (loss)</font></div><div style="margin-bottom:10pt;margin-top:10pt;text-align:justify;text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">As a result of the foregoing, profit for the three months ended March 31, 2025 amounted to &#8364;2,882 million, a 25.0% increase from the &#8364;2,307 million recorded for the three months ended March 31, 2024.</font></div><div style="height:42.52pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="margin-bottom:10pt;text-align:center"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:133%">20</font></div></div></div><hr style="page-break-after:always"><div style="min-height:42.52pt;width:100%"><div style="margin-bottom:6pt;margin-top:0.03pt;padding-left:0.56pt;text-align:justify"><font><br></font></div></div><div style="margin-bottom:10pt;margin-top:10pt;text-align:justify;text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%">Profit &#47; (loss) attributable to parent company</font></div><div style="margin-bottom:10pt;margin-top:10pt;text-align:justify;text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">As a result of the foregoing, profit attributable to parent company for the three months ended March 31, 2025 amounted to &#8364;2,698 million, a 22.7% increase from the &#8364;2,200 million recorded for the three months ended March 31, 2024.</font></div><div style="margin-bottom:10pt;margin-top:10pt;text-align:justify;text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%">Profit &#47; (loss) attributable to non-controlling interests</font></div><div style="margin-bottom:10pt;margin-top:10pt;text-align:justify;text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Profit attributable to non-controlling interests for the three months ended March 31, 2025 increased by 72.6% to &#8364;184 million, from the &#8364;107 million profit attributable to non-controlling interests recorded for the three months ended March 31, 2024, as a result, in part, of the increase in profit in Peru.</font></div><div style="height:42.52pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="margin-bottom:10pt;text-align:center"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:133%">21</font></div></div></div><div id="i4a27b892ded141958e799b2ba3298497_49"></div><hr style="page-break-after:always"><div style="min-height:42.52pt;width:100%"><div style="margin-bottom:6pt;margin-top:0.03pt;padding-left:0.56pt;text-align:justify"><font><br></font></div></div><div style="margin-bottom:10pt;margin-top:10pt;text-indent:17.01pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Results of operations by operating segment for the three months ended March 31, 2025 compared with the three months ended March 31, 2024</font></div><div style="margin-bottom:10pt;margin-top:10pt;text-align:justify;text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The information contained in this section is presented under management criteria&#59; however, for the three months ended March 31, 2025 and 2024, there were no differences between the Group consolidated income statement and the income statements of our operating segments and Corporate Center calculated in accordance with management operating segment reporting criteria. The tables set forth below show the income statements of our operating segments, the Corporate Center and the Group for the periods indicated. </font></div><div style="margin-bottom:10pt;margin-top:10pt;text-align:justify;text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">For certain relevant information concerning the preparation and presentation of the financial information included in this report, including certain recent intra-group adjustments, see &#8220;</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%">Presentation of Financial Information&#8221;.</font></div><div style="margin-bottom:10pt;margin-top:10pt;text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.893%"><tr><td style="width:1.0%"></td><td style="width:34.185%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:8.144%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:8.144%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:8.144%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:8.144%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:8.144%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:8.144%"></td><td style="width:0.1%"></td><td colspan="3" style="display:none"></td><td style="width:1.0%"></td><td style="width:8.151%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="21" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:700;line-height:120%">For the three months ended March 31, 2025</font></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Spain</font></td><td colspan="3" style="border-bottom:1pt solid #000;border-top:1pt solid #000;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Mexico</font></td><td colspan="3" style="border-bottom:1pt solid #000;border-top:1pt solid #000;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Turkey</font></td><td colspan="3" style="border-bottom:1pt solid #000;border-top:1pt solid #000;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:700;line-height:120%">South America</font></td><td colspan="3" style="border-bottom:1pt solid #000;border-top:1pt solid #000;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Rest of Business</font></td><td colspan="3" style="border-bottom:1pt solid #000;border-top:1pt solid #000;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Corporate Center</font></td><td colspan="3" style="display:none"></td><td colspan="3" style="border-bottom:1pt solid #000;border-top:1pt solid #000;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Group</font></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="21" style="border-top:1pt solid #000;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:700;line-height:120%">(In Millions of Euros)</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Net interest income &#47; (expense)</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:700;line-height:120%">1,607</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:700;line-height:120%">2,767</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:700;line-height:120%">701</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:700;line-height:120%">1,231</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:700;line-height:120%">191</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:700;line-height:120%">(99)</font></td><td colspan="3" style="display:none"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:700;line-height:120%">6,398</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Net fees and commissions</font></td><td colspan="3" style="border-top:1pt solid #000;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:120%">590</font></td><td colspan="3" style="border-top:1pt solid #000;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:120%">583</font></td><td colspan="3" style="border-top:1pt solid #000;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:120%">549</font></td><td colspan="3" style="border-top:1pt solid #000;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:120%">227</font></td><td colspan="3" style="border-top:1pt solid #000;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:120%">137</font></td><td colspan="3" style="border-top:1pt solid #000;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(26)</font></td><td colspan="3" style="display:none"></td><td colspan="3" style="border-top:1pt solid #000;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:120%">2,060</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Net gains (losses) on financial assets and liabilities and Exchange differences, net (1)</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:120%">248</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:120%">220</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:120%">124</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:120%">188</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:120%">107</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:120%">61</font></td><td colspan="3" style="display:none"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:120%">948</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Other operating income and expense, net (2)</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:120%">89</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:120%">135</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(107)</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(208)</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:120%">1</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:120%">8</font></td><td colspan="3" style="display:none"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(82)</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Gross income</font></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:700;line-height:120%">2,533</font></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:700;line-height:120%">3,705</font></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:700;line-height:120%">1,267</font></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:700;line-height:120%">1,438</font></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:700;line-height:120%">437</font></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:700;line-height:120%">(55)</font></td><td colspan="3" style="display:none"></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:700;line-height:120%">9,324</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Administration costs</font></td><td colspan="3" style="border-top:1pt solid #000;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(723)</font></td><td colspan="3" style="border-top:1pt solid #000;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(1,036)</font></td><td colspan="3" style="border-top:1pt solid #000;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(518)</font></td><td colspan="3" style="border-top:1pt solid #000;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(580)</font></td><td colspan="3" style="border-top:1pt solid #000;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(192)</font></td><td colspan="3" style="border-top:1pt solid #000;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(135)</font></td><td colspan="3" style="display:none"></td><td colspan="3" style="border-top:1pt solid #000;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(3,184)</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Depreciation and amortization</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(93)</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(108)</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(59)</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(55)</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(9)</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(54)</font></td><td colspan="3" style="display:none"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(378)</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Net margin before provisions (3)</font></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:700;line-height:120%">1,717</font></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:700;line-height:120%">2,561</font></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:700;line-height:120%">690</font></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:700;line-height:120%">803</font></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:700;line-height:120%">236</font></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:700;line-height:120%">(245)</font></td><td colspan="3" style="display:none"></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:700;line-height:120%">5,762</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Impairment or reversal of impairment on financial assets not measured at fair value through profit or loss or net gains by modification</font></td><td colspan="3" style="border-top:1pt solid #000;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(139)</font></td><td colspan="3" style="border-top:1pt solid #000;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(696)</font></td><td colspan="3" style="border-top:1pt solid #000;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(234)</font></td><td colspan="3" style="border-top:1pt solid #000;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(297)</font></td><td colspan="3" style="border-top:1pt solid #000;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(19)</font></td><td colspan="3" style="border-top:1pt solid #000;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(1)</font></td><td colspan="3" style="display:none"></td><td colspan="3" style="border-top:1pt solid #000;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(1,385)</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Provisions or reversal of provisions and other results</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(26)</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(14)</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(2)</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:120%">6</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:120%">3</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:120%">4</font></td><td colspan="3" style="display:none"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(29)</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Operating profit &#47; (loss) before tax</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:700;line-height:120%">1,553</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:700;line-height:120%">1,852</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:700;line-height:120%">453</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:700;line-height:120%">512</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:700;line-height:120%">220</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:700;line-height:120%">(242)</font></td><td colspan="3" style="display:none"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:700;line-height:120%">4,348</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Tax expense or income related to profit or loss from continuing operations</font></td><td colspan="3" style="border-top:1pt solid #000;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(528)</font></td><td colspan="3" style="border-top:1pt solid #000;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(520)</font></td><td colspan="3" style="border-top:1pt solid #000;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(265)</font></td><td colspan="3" style="border-top:1pt solid #000;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(148)</font></td><td colspan="3" style="border-top:1pt solid #000;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(47)</font></td><td colspan="3" style="border-top:1pt solid #000;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:120%">41</font></td><td colspan="3" style="display:none"></td><td colspan="3" style="border-top:1pt solid #000;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(1,466)</font></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Profit &#47; (loss)</font></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:700;line-height:120%">1,025</font></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:700;line-height:120%">1,332</font></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:700;line-height:120%">189</font></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:700;line-height:120%">365</font></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:700;line-height:120%">173</font></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:700;line-height:120%">(201)</font></td><td colspan="3" style="display:none"></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:700;line-height:120%">2,882</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Profit &#47; (loss) attributable to non-controlling interests</font></td><td colspan="3" style="border-top:1pt solid #000;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(1)</font></td><td colspan="3" style="border-top:1pt solid #000;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:120%">&#8212;</font></td><td colspan="3" style="border-top:1pt solid #000;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(31)</font></td><td colspan="3" style="border-top:1pt solid #000;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(146)</font></td><td colspan="3" style="border-top:1pt solid #000;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:120%">&#8212;</font></td><td colspan="3" style="border-top:1pt solid #000;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(6)</font></td><td colspan="3" style="display:none"></td><td colspan="3" style="border-top:1pt solid #000;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(184)</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Profit &#47; (loss) attributable to parent company</font></td><td colspan="3" style="border-bottom:3pt double #000000;border-top:0.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:700;line-height:120%">1,024</font></td><td colspan="3" style="border-bottom:3pt double #000000;border-top:0.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:700;line-height:120%">1,332</font></td><td colspan="3" style="border-bottom:3pt double #000000;border-top:0.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:700;line-height:120%">158</font></td><td colspan="3" style="border-bottom:3pt double #000000;border-top:0.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:700;line-height:120%">218</font></td><td colspan="3" style="border-bottom:3pt double #000000;border-top:0.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:700;line-height:120%">173</font></td><td colspan="3" style="border-bottom:3pt double #000000;border-top:0.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:700;line-height:120%">(208)</font></td><td colspan="3" style="display:none"></td><td colspan="3" style="border-bottom:3pt double #000000;border-top:0.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:700;line-height:120%">2,698</font></td></tr></table></div><div style="padding-left:18pt;text-align:justify;text-indent:-18pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(1)</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:120%;padding-left:8.68pt">Includes &#8220;Gains (losses) on derecognition of financial assets and liabilities not measured at fair value through profit or loss, net&#8221;, &#8220;Gains (losses) on financial assets and liabilities held for trading, net&#8221;, &#8220;Gains (losses) on non-trading financial assets mandatorily at fair value through profit or loss, net&#8221;, &#8220;Gains (losses) on financial assets and liabilities designated at fair value through profit or loss, net&#8221;, &#8220;Gains (losses) from hedge accounting, net&#8221; and &#8220;Exchange differences, net&#8221;.</font></div><div style="padding-left:18pt;text-align:justify;text-indent:-18pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(2)</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:120%;padding-left:8.68pt">Includes &#8220;Dividend income&#8221;, &#8220;Share of profit or loss of entities accounted for using the equity method&#8221;, &#8220;Income from insurance and reinsurance contracts&#8221;, &#8220;Expense from insurance and reinsurance contracts&#8221;, &#8220;Other operating income&#8221; and &#8220;Other operating expense&#8221;.</font></div><div style="padding-left:18pt;text-align:justify;text-indent:-18pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(3)</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:120%;padding-left:8.68pt">&#8220;Net margin before provisions&#8221; is calculated as &#8220;Gross income&#8221; less &#8220;Administration costs&#8221; and &#8220;Depreciation and amortization&#8221;.</font></div><div style="height:42.52pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="margin-bottom:10pt;text-align:center"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:133%">22</font></div></div></div><hr style="page-break-after:always"><div style="min-height:42.52pt;width:100%"><div style="margin-bottom:6pt;margin-top:0.03pt;padding-left:0.56pt;text-align:justify"><font><br></font></div></div><div style="margin-bottom:6pt;margin-top:10pt;text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.893%"><tr><td style="width:1.0%"></td><td style="width:34.185%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:8.144%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:8.144%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:8.144%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:8.144%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:8.144%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:8.144%"></td><td style="width:0.1%"></td><td colspan="3" style="display:none"></td><td style="width:1.0%"></td><td style="width:8.151%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="21" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:700;line-height:120%">For the three months ended March 31, 2024</font></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Spain</font></td><td colspan="3" style="border-bottom:1pt solid #000;border-top:1pt solid #000;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Mexico</font></td><td colspan="3" style="border-bottom:1pt solid #000;border-top:1pt solid #000;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Turkey</font></td><td colspan="3" style="border-bottom:1pt solid #000;border-top:1pt solid #000;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:700;line-height:120%">South America</font></td><td colspan="3" style="border-bottom:1pt solid #000;border-top:1pt solid #000;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Rest of Business</font></td><td colspan="3" style="border-bottom:1pt solid #000;border-top:1pt solid #000;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Corporate Center</font></td><td colspan="3" style="display:none"></td><td colspan="3" style="border-bottom:1pt solid #000;border-top:1pt solid #000;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Group</font></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="21" style="border-top:1pt solid #000;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:700;line-height:120%">(In Millions of Euros)</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Net interest income &#47; (expense)</font></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:700;line-height:120%">1,587</font></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:700;line-height:120%">2,999</font></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:700;line-height:120%">277</font></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:700;line-height:120%">1,555</font></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:700;line-height:120%">157</font></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:700;line-height:120%">(64)</font></td><td colspan="3" style="display:none"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:700;line-height:120%">6,512</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Net fees and commissions</font></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:120%">552</font></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:120%">642</font></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:120%">423</font></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:120%">193</font></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:120%">88</font></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(11)</font></td><td colspan="3" style="display:none"></td><td colspan="3" style="border-top:1pt solid #000;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:120%">1,887</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Net gains (losses) on financial assets and liabilities and Exchange differences, net (1)</font></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:120%">212</font></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:120%">213</font></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:120%">316</font></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:120%">196</font></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:120%">94</font></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(259)</font></td><td colspan="3" style="display:none"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:120%">772</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Other operating income and expense, net (2)</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(209)</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:120%">113</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(119)</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(744)</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:120%">1</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:120%">5</font></td><td colspan="3" style="display:none"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(952)</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Gross income</font></td><td colspan="3" style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:700;line-height:120%">2,143</font></td><td colspan="3" style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:700;line-height:120%">3,967</font></td><td colspan="3" style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:700;line-height:120%">897</font></td><td colspan="3" style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:700;line-height:120%">1,201</font></td><td colspan="3" style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:700;line-height:120%">339</font></td><td colspan="3" style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:700;line-height:120%">(329)</font></td><td colspan="3" style="display:none"></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:700;line-height:120%">8,218</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Administration costs</font></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(723)</font></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(1,066)</font></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(400)</font></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(552)</font></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(152)</font></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(114)</font></td><td colspan="3" style="display:none"></td><td colspan="3" style="border-top:1pt solid #000;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(3,007)</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Depreciation and amortization</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(94)</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(127)</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(45)</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(49)</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(7)</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(53)</font></td><td colspan="3" style="display:none"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(375)</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Net margin before provisions (3)</font></td><td colspan="3" style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:700;line-height:120%">1,325</font></td><td colspan="3" style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:700;line-height:120%">2,773</font></td><td colspan="3" style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:700;line-height:120%">453</font></td><td colspan="3" style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:700;line-height:120%">600</font></td><td colspan="3" style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:700;line-height:120%">180</font></td><td colspan="3" style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:700;line-height:120%">(496)</font></td><td colspan="3" style="display:none"></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:700;line-height:120%">4,835</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Impairment or reversal of impairment on financial assets not measured at fair value through profit or loss or net gains by modification </font></td><td colspan="3" style="border-top:1pt solid #000;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(164)</font></td><td colspan="3" style="border-top:1pt solid #000;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(752)</font></td><td colspan="3" style="border-top:1pt solid #000;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(75)</font></td><td colspan="3" style="border-top:1pt solid #000;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(354)</font></td><td colspan="3" style="border-top:1pt solid #000;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(16)</font></td><td colspan="3" style="border-top:1pt solid #000;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:120%">1</font></td><td colspan="3" style="display:none"></td><td colspan="3" style="border-top:1pt solid #000;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(1,361)</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Provisions or reversal of provisions and other results</font></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(31)</font></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(12)</font></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:120%">36</font></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(45)</font></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(1)</font></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:120%">36</font></td><td colspan="3" style="display:none"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(17)</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Operating profit &#47; (loss) before tax</font></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:700;line-height:120%">1,130</font></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:700;line-height:120%">2,009</font></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:700;line-height:120%">413</font></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:700;line-height:120%">201</font></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:700;line-height:120%">163</font></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:700;line-height:120%">(459)</font></td><td colspan="3" style="display:none"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:700;line-height:120%">3,458</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Tax expense or income related to profit or loss from continuing operations</font></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(417)</font></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(568)</font></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(244)</font></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(6)</font></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(40)</font></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:120%">125</font></td><td colspan="3" style="display:none"></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(1,151)</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Profit &#47; (loss) from continuing operations </font></td><td colspan="3" style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:700;line-height:120%">713</font></td><td colspan="3" style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:700;line-height:120%">1,441</font></td><td colspan="3" style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:700;line-height:120%">170</font></td><td colspan="3" style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:700;line-height:120%">195</font></td><td colspan="3" style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:700;line-height:120%">122</font></td><td colspan="3" style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:700;line-height:120%">(334)</font></td><td colspan="3" style="display:none"></td><td colspan="3" style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:700;line-height:120%">2,307</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Profit &#47; (loss) from discontinued operations, net and Other</font></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:120%">&#8212;</font></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:120%">&#8212;</font></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:120%">&#8212;</font></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:120%">&#8212;</font></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:120%">&#8212;</font></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:120%">&#8212;</font></td><td colspan="3" style="display:none"></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:120%">&#8212;</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Profit &#47; (loss)</font></td><td colspan="3" style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:700;line-height:120%">713</font></td><td colspan="3" style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:700;line-height:120%">1,441</font></td><td colspan="3" style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:700;line-height:120%">170</font></td><td colspan="3" style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:700;line-height:120%">195</font></td><td colspan="3" style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:700;line-height:120%">122</font></td><td colspan="3" style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:700;line-height:120%">(334)</font></td><td colspan="3" style="display:none"></td><td colspan="3" style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:700;line-height:120%">2,307</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Profit &#47; (loss) attributable to non-controlling interests </font></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(1)</font></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:120%">&#8212;</font></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(26)</font></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(75)</font></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:120%">&#8212;</font></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(5)</font></td><td colspan="3" style="display:none"></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(107)</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Profit &#47; (loss) attributable to parent company</font></td><td colspan="3" style="background-color:#ffffff;border-bottom:3pt double #000000;border-top:0.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:700;line-height:120%">712</font></td><td colspan="3" style="background-color:#ffffff;border-bottom:3pt double #000000;border-top:0.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:700;line-height:120%">1,441</font></td><td colspan="3" style="background-color:#ffffff;border-bottom:3pt double #000000;border-top:0.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:700;line-height:120%">144</font></td><td colspan="3" style="background-color:#ffffff;border-bottom:3pt double #000000;border-top:0.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:700;line-height:120%">119</font></td><td colspan="3" style="background-color:#ffffff;border-bottom:3pt double #000000;border-top:0.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:700;line-height:120%">122</font></td><td colspan="3" style="background-color:#ffffff;border-bottom:3pt double #000000;border-top:0.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:700;line-height:120%">(339)</font></td><td colspan="3" style="display:none"></td><td colspan="3" style="background-color:#ffffff;border-bottom:3pt double #000000;border-top:0.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:700;line-height:120%">2,200</font></td></tr></table></div><div style="padding-left:18pt;text-align:justify;text-indent:-18pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(1)</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:120%;padding-left:8.68pt">Includes &#8220;Gains (losses) on derecognition of financial assets and liabilities not measured at fair value through profit or loss, net&#8221;, &#8220;Gains (losses) on financial assets and liabilities held for trading, net&#8221;, &#8220;Gains (losses) on non-trading financial assets mandatorily at fair value through profit or loss, net&#8221;, &#8220;Gains (losses) on financial assets and liabilities designated at fair value through profit or loss, net&#8221;, &#8220;Gains (losses) from hedge accounting, net&#8221; and &#8220;Exchange differences, net&#8221;.</font></div><div style="padding-left:18pt;text-align:justify;text-indent:-18pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(2)</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:120%;padding-left:8.68pt">Includes &#8220;Dividend income&#8221;, &#8220;Share of profit or loss of entities accounted for using the equity method&#8221;, &#8220;Income from insurance and reinsurance contracts&#8221;, &#8220;Expense from insurance and reinsurance contracts&#8221;, &#8220;Other operating income&#8221; and &#8220;Other operating expense&#8221;.</font></div><div style="padding-left:18pt;text-align:justify;text-indent:-18pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(3)</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:120%;padding-left:8.68pt">&#8220;Net margin before provisions&#8221; is calculated as &#8220;Gross income&#8221; less &#8220;Administration costs&#8221; and &#8220;Depreciation and amortization&#8221;.</font></div><div style="padding-left:17.86pt;text-align:justify;text-indent:-17.86pt"><font><br></font></div><div style="height:42.52pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="margin-bottom:10pt;text-align:center"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:133%">23</font></div></div></div><div id="i4a27b892ded141958e799b2ba3298497_52"></div><hr style="page-break-after:always"><div style="min-height:42.52pt;width:100%"><div style="margin-bottom:6pt;margin-top:0.03pt;padding-left:0.56pt;text-align:justify"><font><br></font></div></div><div style="margin-bottom:10pt;margin-top:10pt;text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:120%">SPAIN</font></div><div style="margin-bottom:6pt;margin-top:10pt;text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.893%"><tr><td style="width:1.0%"></td><td style="width:65.155%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:10.148%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:10.148%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:10.149%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="6" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:700;line-height:120%">For the three months ended March 31,</font></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:700;line-height:120%">2025</font></td><td colspan="3" style="border-bottom:1pt solid #000;border-top:1pt solid #000;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:700;line-height:120%">2024</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Change</font></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="6" style="border-top:1pt solid #000;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:120%">(In Millions of Euros)</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:700;line-height:120%">(In %)</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Net interest income</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:700;line-height:120%">1,607</font></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:700;line-height:120%">1,587</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:700;line-height:120%">1.2</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Net fees and commissions</font></td><td colspan="3" style="border-top:1pt solid #000;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%">590</font></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%">552</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%">6.8</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Net gains (losses) on financial assets and liabilities and Exchange differences, net (1)</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%">248</font></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%">212</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%">16.7</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Other operating income and expense, net </font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%">(14)</font></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%">(306)</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%">(95.4)</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Income and expense on insurance and reinsurance contracts</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%">103</font></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%">97</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%">6.5</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Gross income</font></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:700;line-height:120%">2,533</font></td><td colspan="3" style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:700;line-height:120%">2,143</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:700;line-height:120%">18.2</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Administration costs</font></td><td colspan="3" style="border-top:1pt solid #000;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%">(723)</font></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%">(723)</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%">&#8212;</font></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Depreciation and amortization</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%">(93)</font></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%">(94)</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%">(1.0)</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Net margin before provisions (2)</font></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:700;line-height:120%">1,717</font></td><td colspan="3" style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:700;line-height:120%">1,325</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:700;line-height:120%">29.5</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Impairment or reversal of impairment on financial assets not measured at fair value through profit or loss or net gains by modification</font></td><td colspan="3" style="border-top:1pt solid #000;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%">(139)</font></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%">(164)</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%">(15.7)</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Provisions or reversal of provisions and other results</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%">(26)</font></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%">(31)</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%">(16.8)</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Operating profit &#47; (loss) before tax</font></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:700;line-height:120%">1,553</font></td><td colspan="3" style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:700;line-height:120%">1,130</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:700;line-height:120%">37.4</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Tax expense or income related to profit or loss from continuing operations</font></td><td colspan="3" style="border-top:1pt solid #000;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%">(528)</font></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%">(417)</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%">26.4</font></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Profit</font></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:700;line-height:120%">1,025</font></td><td colspan="3" style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:700;line-height:120%">713</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:700;line-height:120%">43.8</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Profit attributable to non-controlling interests</font></td><td colspan="3" style="border-top:1pt solid #000;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%">(1)</font></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%">(1)</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%">&#8212;</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Profit attributable to parent company</font></td><td colspan="3" style="border-bottom:1pt solid #000;border-top:0.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:700;line-height:120%">1,024</font></td><td colspan="3" style="background-color:#ffffff;border-bottom:1pt solid #000;border-top:0.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:700;line-height:120%">712</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:700;line-height:120%">43.8</font></td></tr></table></div><div style="padding-left:18pt;text-align:justify;text-indent:-18pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(1)</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:120%;padding-left:8.68pt">Includes &#8220;Gains (losses) on derecognition of financial assets and liabilities not measured at fair value through profit or loss, net&#8221;, &#8220;Gains (losses) on financial assets and liabilities held for trading, net&#8221;, &#8220;Gains (losses) on non-trading financial assets mandatorily at fair value through profit or loss, net&#8221;, &#8220;Gains (losses) on financial assets and liabilities designated at fair value through profit or loss, net&#8221;, &#8220;Gains (losses) from hedge accounting, net&#8221; and &#8220;Exchange differences, net&#8221;.</font></div><div style="padding-left:18pt;text-align:justify;text-indent:-18pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(2)</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:120%;padding-left:8.68pt">Calculated as &#8220;Gross income&#8221; less &#8220;Administration costs&#8221; and &#8220;Depreciation and amortization&#8221;.</font></div><div style="margin-bottom:10pt;margin-top:10pt;text-indent:18pt"><font id="i2198bceb2c384fbf816db575bd2749ec_6512"></font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Net interest income</font></div><div style="margin-bottom:10pt;margin-top:10pt;text-align:justify;text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Net interest income of this operating segment for the three months ended March 31, 2025 amounted to &#8364;1,607 million, a 1.2% increase compared with the &#8364;1,587 million recorded for the three months ended March 31, 2024, mainly as a result of the higher contribution from the securities portfolio and the lower funding costs from the wholesale portfolio, partially offset by the impact of interest rates cuts implemented by the ECB since the second half of 2024 on the consumer and household loan portfolios, which are mostly referenced to variable interest rates. The net interest margin over average total assets of this operating segment amounted to 1.55% for the three months ended March 31, 2025, compared with 1.44% for the three months ended March 31, 2024.</font></div><div style="margin-bottom:10pt;margin-top:10pt;text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Net fees and commissions</font></div><div style="margin-bottom:10pt;margin-top:10pt;text-align:justify;text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Net fees and commissions of this operating segment for the three months ended March 31, 2025 amounted to &#8364;590 million, a 6.8% increase compared with the &#8364;552 million recorded for the three months ended March 31, 2024, mainly due to the increase in the volume of asset management activities.</font></div><div style="margin-bottom:10pt;margin-top:10pt;text-align:justify;text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Net gains (losses) on financial assets and liabilities and Exchange differences, net</font></div><div style="margin-bottom:10pt;margin-top:10pt;text-align:justify;text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Net gains on financial assets and liabilities and exchange differences of this operating segment for the three months ended March 31, 2025 was a net gain of &#8364;248 million, a 16.7% increase compared with the &#8364;212 million net gain recorded for the three months ended March 31, 2024, mainly as a result of the positive performance of the Global Markets unit in Spain, partially offset by negative exchange differences. </font></div><div style="margin-bottom:10pt;margin-top:10pt;text-align:justify;text-indent:18pt"><font id="i2198bceb2c384fbf816db575bd2749ec_6496"></font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Other operating income and expense, net</font></div><div style="margin-bottom:10pt;margin-top:10pt;text-align:justify;text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Other operating income and expense, net of this operating segment for the three months ended March 31, 2025 amounted to a &#8364;14 million expense, a 95.4% decrease compared with the &#8364;306 million expense recorded for the three months ended March 31, 2024. Other operating expense for the three months ended March 31, 2024 was mainly related to the then-estimated impact of the temporary tax on credit institutions and financial credit establishments in Spain amounting to &#8364;285 million (which was paid in 2024), whereas the quarterly expense related to the new tax on the interest margin and commissions of certain financial entities was recorded under &#8220;Tax expense or income related to profit or loss from continuing operations&#8221; for the three months ended March 31, 2025.</font></div><div style="height:42.52pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="margin-bottom:10pt;text-align:center"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:133%">24</font></div></div></div><hr style="page-break-after:always"><div style="min-height:42.52pt;width:100%"><div style="margin-bottom:6pt;margin-top:0.03pt;padding-left:0.56pt;text-align:justify"><font><br></font></div></div><div style="margin-bottom:10pt;margin-top:10pt;text-align:justify;text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Income and expense on insurance and reinsurance contracts</font></div><div style="margin-bottom:10pt;margin-top:10pt;text-align:justify;text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Net income on insurance and reinsurance contracts of this operating segment for the three months ended March 31, 2025 was &#8364;</font><font style="background-color:#ffffff;color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">103 </font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">million, a 6.5% increase compared with the &#8364;97 million income recorded for the three months ended March 31, 2024.</font></div><div style="margin-bottom:10pt;margin-top:10pt;text-align:justify;text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Administration costs</font></div><div style="margin-bottom:10pt;margin-top:10pt;text-align:justify;text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Administration costs of this operating segment for the three months ended March 31, 2025 and 2024 amounted to &#8364;723 million.</font></div><div style="margin-bottom:10pt;margin-top:10pt;text-align:justify;text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Depreciation and amortization</font></div><div style="margin-bottom:10pt;margin-top:10pt;text-align:justify;text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Depreciation and amortization for the three months ended March 31, 2025 was &#8364;</font><font style="background-color:#ffffff;color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">93</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> million, a 1.0% decrease compared with the &#8364;94 million recorded for the</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">three months ended March 31, 2024.</font></div><div style="margin-bottom:10pt;margin-top:10pt;text-align:justify;text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Impairment or reversal of impairment on financial assets not measured at fair value through profit or loss or net gains by modification</font></div><div style="margin-bottom:10pt;margin-top:10pt;text-align:justify;text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Impairment or reversal of impairment on financial assets not measured at fair value through profit or loss or net gains by modification of this operating segment for the three months ended March 31, 2025 amounted to a &#8364;139 million expense, a 15.7% decrease compared with the &#8364;164 million expense recorded for the three months ended March 31, 2024, mainly due to lower credit impairment requirements in the retail loan portfolio.</font></div><div style="margin-bottom:10pt;margin-top:10pt;text-align:justify;text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Provisions or reversal of provisions and other results</font></div><div style="margin-bottom:10pt;margin-top:10pt;text-align:justify;text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Provisions or reversal of provisions and other results of this operating segment for the three months ended March 31, 2025 was a &#8364;26 million expense, a 16.8% decrease compared with the &#8364;31 million expense recorded for the three months ended March 31, 2024, mainly due to certain gains on the sale of non-current assets and disposal groups classified as held for sale.</font></div><div style="margin-bottom:10pt;margin-top:10pt;text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Operating profit &#47; (loss) before tax</font></div><div style="margin-bottom:10pt;margin-top:10pt;text-align:justify;text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">As a result of the foregoing, operating profit before tax of this operating segment for the three months ended March 31, 2025 was &#8364;1,553 million, a 37.4% increase compared with the &#8364;1,130 million profit recorded for the three months ended March 31, 2024.</font></div><div style="margin-bottom:10pt;margin-top:10pt;text-align:justify;text-indent:18pt"><font id="i2198bceb2c384fbf816db575bd2749ec_6476"></font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Tax expense or income related to profit or loss from continuing operations</font></div><div style="margin-bottom:10pt;margin-top:10pt;text-align:justify;text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Tax expense related to profit from continuing operations of this operating segment for the three months ended March 31, 2025 was an expense of &#8364;528 million, a 26.4% increase compared with the &#8364;417 million expense recorded for the three months ended March 31, 2024, mainly as a result of the higher operating profit before tax recorded for the three months ended March 31, 2025 and the expense recorded in connection with the quarterly accrual of the new tax on the interest margin and commissions of certain financial entities, for an estimated amount of &#8364;85 million, for the three months ended March 31, 2025. See &#8220;</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%">Item 4. Information on the Company&#8212;Business Overview&#8212;Supervision and Regulation&#8212;Principal Markets&#8212;Spain&#8212;Temporary Tax on Credit Institutions in Spain</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8221; in our 2024 Form 20-F. </font></div><div style="margin-bottom:10pt;margin-top:10pt;text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Profit attributable to parent company</font></div><div style="margin-bottom:10pt;margin-top:10pt;text-align:justify;text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">As a result of the foregoing, profit attributable to parent company of this operating segment for the three months ended March 31, 2025</font><font style="background-color:#ffffff;color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> amounted to &#8364;</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">1,024</font><font style="background-color:#ffffff;color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> million, a 43.8% increase compared with the &#8364;712 million profit recorded for the </font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">three months</font><font style="background-color:#ffffff;color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> ended March 31, 2024.</font></div><div style="height:42.52pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="margin-bottom:10pt;text-align:center"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:133%">25</font></div></div></div><div id="i4a27b892ded141958e799b2ba3298497_55"></div><hr style="page-break-after:always"><div style="min-height:42.52pt;width:100%"><div style="margin-bottom:6pt;margin-top:0.03pt;padding-left:0.56pt;text-align:justify"><font><br></font></div></div><div style="margin-bottom:10pt;margin-top:10pt;text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:120%">MEXICO</font></div><div style="margin-bottom:6pt;margin-top:10pt;text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.893%"><tr><td style="width:1.0%"></td><td style="width:65.155%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:10.148%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:10.148%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:10.149%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="6" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:700;line-height:120%">For the three months ended March 31,</font></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:700;line-height:120%">2025</font></td><td colspan="3" style="border-bottom:1pt solid #000;border-top:1pt solid #000;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:700;line-height:120%">2024</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Change</font></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="6" style="border-top:1pt solid #000;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:700;line-height:120%">(In Millions of Euros)</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:700;line-height:120%">(In %)</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Net interest income</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:700;line-height:120%">2,767</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:700;line-height:120%">2,999</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:700;line-height:120%">(7.7)</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Net fees and commissions</font></td><td colspan="3" style="border-top:1pt solid #000;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%">583</font></td><td colspan="3" style="border-top:1pt solid #000;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%">642</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%">(9.2)</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Net gains (losses) on financial assets and liabilities and Exchange differences, net (1)</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%">220</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%">213</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%">3.3</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Other operating income and expense, net</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%">(91)</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%">(95)</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%">(4.2)</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Income and expense on insurance and reinsurance contracts</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%">226</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%">208</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%">8.6</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Gross income</font></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:700;line-height:120%">3,705</font></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:700;line-height:120%">3,967</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:700;line-height:120%">(6.6)</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Administration costs</font></td><td colspan="3" style="border-top:1pt solid #000;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%">(1,036)</font></td><td colspan="3" style="border-top:1pt solid #000;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%">(1,066)</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%">(2.9)</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Depreciation and amortization</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%">(108)</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%">(127)</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%">(15.1)</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Net margin before provisions (2)</font></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:700;line-height:120%">2,561</font></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:700;line-height:120%">2,773</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:700;line-height:120%">(7.7)</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Impairment or reversal of impairment on financial assets not measured at fair value through profit or loss or net gains by modification</font></td><td colspan="3" style="border-top:1pt solid #000;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%">(696)</font></td><td colspan="3" style="border-top:1pt solid #000;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%">(752)</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%">(7.5)</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Provisions or reversal of provisions and other results</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%">(14)</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%">(12)</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%">16.5</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Operating profit &#47; (loss) before tax</font></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:700;line-height:120%">1,852</font></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:700;line-height:120%">2,009</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:700;line-height:120%">(7.8)</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Tax expense or income related to profit or loss from continuing operations</font></td><td colspan="3" style="border-top:1pt solid #000;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%">(520)</font></td><td colspan="3" style="border-top:1pt solid #000;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%">(568)</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%">(8.5)</font></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Profit</font></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:700;line-height:120%">1,332</font></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:700;line-height:120%">1,441</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:700;line-height:120%">(7.6)</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Profit attributable to non-controlling interests</font></td><td colspan="3" style="border-top:1pt solid #000;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%">&#8212;</font></td><td colspan="3" style="border-top:1pt solid #000;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%">&#8212;</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%">(5.4)</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Profit attributable to parent company</font></td><td colspan="3" style="border-bottom:1pt solid #000;border-top:0.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:700;line-height:120%">1,332</font></td><td colspan="3" style="border-bottom:1pt solid #000;border-top:0.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:700;line-height:120%">1,441</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:700;line-height:120%">(7.6)</font></td></tr></table></div><div style="padding-left:18pt;text-align:justify;text-indent:-18pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(1)</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:120%;padding-left:8.68pt">Includes &#8220;Gains (losses) on derecognition of financial assets and liabilities not measured at fair value through profit or loss, net&#8221;, &#8220;Gains (losses) on financial assets and liabilities held for trading, net&#8221;, &#8220;Gains (losses) on non-trading financial assets mandatorily at fair value through profit or loss, net&#8221;, &#8220;Gains (losses) on financial assets and liabilities designated at fair value through profit or loss, net&#8221;, &#8220;Gains (losses) from hedge accounting, net&#8221; and &#8220;Exchange differences, net&#8221;.</font></div><div style="padding-left:18pt;text-align:justify;text-indent:-18pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(2)</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:120%;padding-left:8.68pt">&#8220;Net margin before provisions&#8221; is calculated as &#8220;Gross income&#8221; less &#8220;Administration costs&#8221; and &#8220;Depreciation and amortization&#8221;.</font></div><div style="margin-bottom:10pt;margin-top:10pt;text-align:justify;text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">In the three months ended March 31, 2025, the Mexican peso depreciated by 14.2% against the euro</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">in average terms compared with the three months ended March 31, 2024, resulting in a negative exchange rate effect on our consolidated income statement for the three months ended March 31, 2025 and in the results of operations of the Mexico operating segment for such period expressed in euros. See &#8220;</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%">&#8213;Factors Affecting the Comparability of our Results of Operations and Financial Condition&#8213;Trends in Exchange Rates</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8221;.</font></div><div style="margin-bottom:10pt;margin-top:10pt;text-align:justify;text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> </font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Net interest income</font></div><div style="margin-bottom:10pt;margin-top:10pt;text-align:justify;text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Net interest income of this operating segment for the three months ended March 31, 2025 amounted to &#8364;2,767 million, a 7.7% decrease compared with the &#8364;2,999 million recorded for the three months ended March 31, 2024, mainly as a result of the depreciation of the Mexican peso against the euro, partially offset by increases in the volume of the loan portfolio and lower wholesale funding costs. The net interest margin over average total assets of this operating segment amounted to 6.77% for the three months ended March 31, 2025, compared with 6.81% for the three months ended March 31, 2024. At constant exchange rates, net interest income for this operating segment increased by 7.6%.</font></div><div style="margin-bottom:10pt;margin-top:10pt;text-align:justify;text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Net fees and commissions</font></div><div style="margin-bottom:10pt;margin-top:10pt;text-align:justify;text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Net fees and commissions of this operating segment for the three months ended March 31, 2025 amounted to &#8364;583 million, a 9.2% decrease compared with the &#8364;642 million recorded for the three months ended March 31, 2024, mainly due to the depreciation of the Mexican peso against the euro, partially offset by the fees resulting from the increased volumes of credit card transactions and asset management activities. At constant exchange rates, there was a 5.8% increase in net fees and commissions.</font></div><div style="margin-bottom:10pt;margin-top:10pt;text-align:justify;text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Net gains (losses) on financial assets and liabilities and Exchange differences, net</font></div><div style="margin-bottom:10pt;margin-top:10pt;text-align:justify;text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Net gains on financial assets and liabilities and exchange differences of this operating segment for the three months ended March 31, 2025 were &#8364;220 million, a 3.3% increase compared with the &#8364;213 million gain recorded for the three months ended March 31, 2024, mainly as a result of the higher gains from exchange differences in the Global Markets unit and, to a lesser extent, gains from the ALCO portfolio resulting from trading transactions and hedge gains, offset, to a great extent, by the depreciation of the Mexican peso against the euro. At constant exchange rates, there was a 20.4% increase in net gains on financial assets and liabilities and exchange differences.</font></div><div style="height:42.52pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="margin-bottom:10pt;text-align:center"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:133%">26</font></div></div></div><hr style="page-break-after:always"><div style="min-height:42.52pt;width:100%"><div style="margin-bottom:6pt;margin-top:0.03pt;padding-left:0.56pt;text-align:justify"><font><br></font></div></div><div style="margin-bottom:10pt;margin-top:10pt;text-align:justify;text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Other operating income and expense, net</font></div><div style="margin-bottom:10pt;margin-top:10pt;text-align:justify;text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Other operating income and expense, net of this operating segment for the three months ended March 31, 2025 was an expense of &#8364;91 million, a 4.2% decrease compared with the &#8364;95 million expense recorded for the three months ended March 31, 2024, mainly as a result of the depreciation of the Mexican peso against the euro, partially offset by the higher contributions made to the Deposit Guarantee Fund. At constant exchange rates, there was an 11.6% increase in net expense.</font></div><div style="margin-bottom:10pt;margin-top:10pt;text-align:justify;text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Income and expense on insurance and reinsurance contracts</font></div><div style="margin-bottom:10pt;margin-top:10pt;text-align:justify;text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Net income on insurance and reinsurance contracts of this operating segment for the three months ended March 31, 2025 was &#8364;226 million, an 8.6% increase compared with the &#8364;208 million income recorded for the three months ended March 31, 2024, mainly due to the increase in insurance premiums, attributable in part to higher insurance sales, partially offset by the depreciation of the Mexican peso against the euro. At constant exchange rates, net income and expense on insurance and reinsurance contracts increased by 26.7%</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">.</font></div><div style="margin-bottom:10pt;margin-top:10pt;text-align:justify;text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%"> Administration costs</font></div><div style="margin-bottom:10pt;margin-top:10pt;text-align:justify;text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Administration costs of this operating segment for the three months ended March 31, 2025 were &#8364;1,036 million, a 2.9% decrease compared with the &#8364;1,066 million recorded for the three months ended March 31, 2024, mainly as a result of the depreciation of the Mexican peso against the euro, partially offset by the higher salaries and the higher general expenses related mainly to IT. At constant exchange rates, administration costs increased by 13.2%.</font></div><div style="margin-bottom:10pt;margin-top:10pt;text-align:justify;text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Depreciation and amortization</font></div><div style="margin-bottom:10pt;margin-top:10pt;text-align:justify;text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Depreciation and amortization for the three months ended March 31, 2025 was &#8364;108 million, a 15.1% decrease compared with the &#8364;127 million recorded for the three months ended March 31, 2024, mainly due to depreciation of the Mexican peso against the euro. At constant exchange rates, depreciation and amortization decreased by 1.0</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">%.</font></div><div style="margin-bottom:10pt;margin-top:10pt;text-align:justify;text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Impairment or reversal of impairment on financial assets not measured at fair value through profit or loss or net gains by modification</font></div><div style="margin-bottom:10pt;margin-top:10pt;text-align:justify;text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Impairment or reversal of impairment on financial assets not measured at fair value through profit or loss or net gains by modification of this operating segment for the three months ended March 31, 2025 was a &#8364;696 million expense, a 7.5% decrease compared with the &#8364;752 million expense recorded for the three months ended March 31, 2024, mainly due to the depreciation of the Mexican peso against the euro, partially offset by the increase in the volume of loans to SMEs, which implied higher credit requirements. At constant exchange rates, impairment or reversal of impairment on financial assets not measured at fair value through profit or loss or net gains by modification increased by 7.8</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">%.</font></div><div style="margin-bottom:10pt;margin-top:10pt;text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Provisions or reversal of provisions and other results</font></div><div style="margin-bottom:10pt;margin-top:10pt;text-align:justify;text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Provisions or reversal of provisions and other results of this operating segment for the three months ended March 31, 2025 were a &#8364;</font><font style="background-color:#ffffff;color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">14</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> million expense, a 16.5% increase compared with the &#8364;12 million expense recorded for the three months ended March 31, 2024, mainly due to the impairment of a guarantee on a leasing transaction, partially offset by the depreciation of the Mexican peso against the euro. At constant exchange rates, provisions or reversal of provisions and other results increased by 35.8</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">%.</font></div><div style="margin-bottom:10pt;margin-top:10pt;text-align:justify;text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Operating profit &#47; (loss) before tax</font></div><div style="margin-bottom:10pt;margin-top:10pt;text-align:justify;text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">As a result of the foregoing, operating profit before tax of this operating segment for the three months ended March 31, 2025 was &#8364;1,852 million, a 7.8% decrease compared with the &#8364;2,009 million recorded for the three months ended March 31, 2024. At constant exchange rates, operating profit before tax increased by 7.4</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">%.</font></div><div style="margin-bottom:10pt;margin-top:10pt;text-align:justify;text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Tax expense or income related to profit or loss from continuing operations</font></div><div style="margin-bottom:10pt;margin-top:10pt;text-align:justify;text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Tax expense related to profit from continuing operations of this operating segment for the three months ended March 31, 2025 was &#8364;520 million, an 8.5% decrease compared with the &#8364;568 million expense recorded for the three months ended March 31, 2024, mainly as a result of the lower operating profit before tax. </font></div><div style="margin-bottom:10pt;margin-top:10pt;text-align:justify;text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Profit attributable to parent company</font></div><div style="margin-bottom:10pt;margin-top:10pt;text-align:justify;text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">As a result of the foregoing, profit attributable to parent company of this operating segment for the three months ended March 31, 2025 amounted to &#8364;1,332 million, a </font><font style="background-color:#ffffff;color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">7.6</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">% decrease compared with the &#8364;1,441 million recorded for the three months ended March 31, 2024. At constant exchange rates, profit attributable to parent company increased by 7.8</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">%.</font></div><div style="height:42.52pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="margin-bottom:10pt;text-align:center"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:133%">27</font></div></div></div><div id="i4a27b892ded141958e799b2ba3298497_58"></div><hr style="page-break-after:always"><div style="min-height:42.52pt;width:100%"><div style="margin-bottom:6pt;margin-top:0.03pt;padding-left:0.56pt;text-align:justify"><font><br></font></div></div><div style="margin-bottom:10pt;margin-top:10pt;text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:120%">TURKEY</font></div><div style="margin-bottom:6pt;margin-top:10pt;text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.893%"><tr><td style="width:1.0%"></td><td style="width:65.155%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:10.148%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:10.148%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:10.149%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="6" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:700;line-height:120%">For the three months ended March 31,</font></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:700;line-height:120%">2025</font></td><td colspan="3" style="border-bottom:1pt solid #000;border-top:1pt solid #000;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:700;line-height:120%">2024</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Change</font></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="6" style="border-top:1pt solid #000;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:700;line-height:120%">(In Millions of Euros)</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:700;line-height:120%">(In %)</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Net interest income</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:700;line-height:120%">701</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:700;line-height:120%">277</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:700;line-height:120%">152.7</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Net fees and commissions</font></td><td colspan="3" style="border-top:1pt solid #000;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%">549</font></td><td colspan="3" style="border-top:1pt solid #000;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%">423</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%">29.9</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Net gains (losses) on financial assets and liabilities and Exchange differences, net (1)</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%">124</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%">316</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%">(60.9)</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Other operating income and expense, net</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%">(126)</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%">(130)</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%">(3.6)</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Income and expense on insurance and reinsurance contracts</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%">19</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%">12</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%">60.1</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Gross income</font></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:700;line-height:120%">1,267</font></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:700;line-height:120%">897</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:700;line-height:120%">41.2</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Administration costs</font></td><td colspan="3" style="border-top:1pt solid #000;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%">(518)</font></td><td colspan="3" style="border-top:1pt solid #000;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%">(400)</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%">29.7</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Depreciation and amortization</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%">(59)</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%">(45)</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%">31.0</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Net margin before provisions (2)</font></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:700;line-height:120%">690</font></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:700;line-height:120%">453</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:700;line-height:120%">52.4</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Impairment or reversal of impairment on financial assets not measured at fair value through profit or loss or net gains by modification</font></td><td colspan="3" style="border-top:1pt solid #000;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%">(234)</font></td><td colspan="3" style="border-top:1pt solid #000;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%">(75)</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%">211.6</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Provisions or reversal of provisions and other results</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%">(2)</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%">36</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%">n.m. (3)</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Operating profit &#47; (loss) before tax</font></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:700;line-height:120%">453</font></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:700;line-height:120%">413</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:700;line-height:120%">9.7</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Tax expense or income related to profit or loss from continuing operations</font></td><td colspan="3" style="border-top:1pt solid #000;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%">(265)</font></td><td colspan="3" style="border-top:1pt solid #000;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%">(244)</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%">8.6</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Profit</font></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:700;line-height:120%">189</font></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:700;line-height:120%">170</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:700;line-height:120%">11.1</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Profit attributable to non-controlling interests</font></td><td colspan="3" style="border-top:1pt solid #000;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%">(31)</font></td><td colspan="3" style="border-top:1pt solid #000;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%">(26)</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%">18.0</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Profit attributable to parent company</font></td><td colspan="3" style="border-bottom:1pt solid #000;border-top:0.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:700;line-height:120%">158</font></td><td colspan="3" style="border-bottom:1pt solid #000;border-top:0.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:700;line-height:120%">144</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:700;line-height:120%">9.9</font></td></tr></table></div><div style="padding-left:18pt;text-align:justify;text-indent:-18pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(1)</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:120%;padding-left:8.68pt">Includes &#8220;Gains (losses) on derecognition of financial assets and liabilities not measured at fair value through profit or loss, net&#8221;, &#8220;Gains (losses) on financial assets and liabilities held for trading, net&#8221;, &#8220;Gains (losses) on non-trading financial assets mandatorily at fair value through profit or loss, net&#8221;, &#8220;Gains (losses) on financial assets and liabilities designated at fair value through profit or loss, net&#8221;, &#8220;Gains (losses) from hedge accounting, net&#8221; and &#8220;Exchange differences, net&#8221;.</font></div><div style="padding-left:18pt;text-align:justify;text-indent:-18pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(2)</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:120%;padding-left:8.68pt">&#8220;Net margin before provisions&#8221; is calculated as &#8220;Gross income&#8221; less &#8220;Administration costs&#8221; and &#8220;Depreciation and amortization&#8221;.</font></div><div style="padding-left:18pt;text-align:justify;text-indent:-18pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(3)</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:120%;padding-left:8.68pt">Not meaningful.</font></div><div style="margin-bottom:10pt;margin-top:10pt;text-align:justify;text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">As of March 31, 2025, the Turkish lira depreciated by 14.8% against the euro compared to March 31, 2024 (i.e., the period-end exchange rates of the Turkish lira used to convert income statement items pursuant to IAS 21 for the three months ended March 31, 2025 and 2024, respectively), adversely affecting the results of operations of the Turkey operating segment for the three months ended March 31, 2025 expressed in euros. See &#8220;</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%">&#8213;Factors Affecting the Comparability of our Results of Operations and Financial Condition&#8213;Trends in Exchange Rates</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8221;.</font></div><div style="margin-bottom:10pt;margin-top:10pt;text-align:justify;text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Since the first half of 2022, the Turkish economy has been considered to be hyperinflationary as defined by IAS 29 &#8220;Financial Reporting in Hyperinflationary Economies&#8221;. See &#8220;</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%">Presentation of Financial Information&#8212;Hyperinflationary Economies</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8221; for information on the impact of hyperinflation accounting.</font></div><div style="margin-bottom:10pt;margin-top:10pt;text-align:justify;text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Regulation and monetary policy, including the liraization strategy adopted by the CBRT to protect the Turkish lira, has affected this operating segment. See &#8220;</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%">&#8212;Factors Affecting the Comparability of our Results of Operations and Financial Condition&#8212;Macroeconomic and geopolitical conditions</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8221; and &#8220;</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%">Other Matters&#8212;Regulatory Update for Turkey</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8221;. </font></div><div style="margin-bottom:10pt;margin-top:10pt;text-align:justify;text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> </font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Net interest income</font></div><div style="margin-bottom:10pt;margin-top:10pt;text-align:justify;text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Net interest income of this operating segment for the three months ended March 31, 2025 amounted to &#8364;701 million, compared with the &#8364;277 million recorded for the three months ended March 31, 2024, mainly as a result of the higher volume and yield of Turkish lira-denominated loans supported -with respect to the volume growth- by the lessening of the loan growth-based reserve requirements since January 4, 2025, as adopted by the CBRT </font><font style="background-color:#ffffff;color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">(for additional information, see </font><font style="background-color:#ffffff;color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%">&#8220;Other Matters&#8212;Regulatory Update for Turkey&#8221;</font><font style="background-color:#ffffff;color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">),</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> the increase in volume of sovereign debt securities and the higher customer spread (calculated as the average rate at which assets are remunerated, less the equivalent average rate for deposits),</font><font style="background-color:#ffffff;color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> </font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">partially offset by the depreciation of the Turkish lira against the euro. The period-on-period comparison was affected by changes in the reserve requirement for foreign currency deposits, which was set at 8% as of February 2024 and amended in September 2024 and November 2024 to 5% and 4%, respectively, and which requires Garanti BBVA to make Turkish lira-denominated deposits with the CBRT in such proportion with respect to all foreign currency-denominated deposits and participation funds, excluding those obtained from banks abroad, regardless of their maturities. The net interest margin over average total assets of this operating segment amounted to 3.31% for the three months ended March 31, 2025, compared with 1.58% for the three months ended March 31, 2024.</font></div><div style="height:42.52pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="margin-bottom:10pt;text-align:center"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:133%">28</font></div></div></div><hr style="page-break-after:always"><div style="min-height:42.52pt;width:100%"><div style="margin-bottom:6pt;margin-top:0.03pt;padding-left:0.56pt;text-align:justify"><font><br></font></div></div><div style="margin-bottom:10pt;margin-top:10pt;text-align:justify;text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Net fees and commissions</font></div><div style="margin-bottom:10pt;margin-top:10pt;text-align:justify;text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Net fees and commissions of this operating segment for the three months ended March 31, 2025 amounted to &#8364;549 million, a 29.9% increase compared with the &#8364;423 million recorded for the three months ended March 31, 2024, as a result of the increase in payment systems fees (fees related to credit and debit cards and POS) supported by the increase in the maximum credit card fees banks may charge in Turkey pursuant to the regulation established by the CBRT in November 2024, partially offset by the depreciation of the Turkish lira against the euro. At constant exchange rates, net fees and commissions increased by 51.6%.</font></div><div style="margin-bottom:10pt;margin-top:10pt;text-align:justify;text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Net gains (losses) on financial assets and liabilities and Exchange differences, net</font></div><div style="margin-bottom:10pt;margin-top:10pt;text-align:justify;text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Net gains on financial assets and liabilities and exchange differences of this operating segment for the three months ended March 31, 2025 amounted to &#8364;124 million, a 60.9% decrease compared with the &#8364;316 million gain recorded for the three months ended March 31, 2024, mainly driven by negative exchange differences, lower gains from the trading portfolio, and, to a lesser extent, the depreciation of the Turkish lira against the euro.</font></div><div style="margin-bottom:10pt;margin-top:10pt;text-align:justify;text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Other operating income and expense, net</font></div><div style="margin-bottom:10pt;margin-top:10pt;text-align:justify;text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Other operating income and expense, net of this operating segment for the three months ended March 31, 2025 was a &#8364;126 million net expense, a 3.6% decrease compared with the &#8364;130 million net expense recorded for the three months ended March 31, 2024, mainly due to the depreciation of the Turkish lira against the euro and the lower loss on the net monetary position resulting from the adjustment for hyperinflation (&#8364;348 million and &#8364;550 million in the three months ended March 31, 2025 and 2024, respectively), partially offset by the lower positive impact of the revaluation of bonds linked to inflation in the period (&#8364;311 million and &#8364;439 millio</font><font style="background-color:#ffffff;color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">n, respectively, in the three months ended March 31, 2025 and 2024) and higher income from non-financial services. </font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">At constant exchange rates, there was a 36.4% decrease in net expense.</font></div><div style="margin-bottom:10pt;margin-top:10pt;text-align:justify;text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Income and expense on insurance and reinsurance contracts</font></div><div style="margin-bottom:10pt;margin-top:10pt;text-align:justify;text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Net income on insurance and reinsurance contracts of this operating segment for the three months ended March 31, 2025 was &#8364;19 million, a 60.1% increase compared with the &#8364;12 million income recorded for the three months ended March 31, 2024, mainly due to the increase in insurance premiums, partially offset by the depreciation of the Turkish lira. At constant exchange rates, there was an 86.9% increase.</font></div><div style="margin-bottom:10pt;margin-top:10pt;text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Administration costs</font></div><div style="margin-bottom:10pt;margin-top:10pt;text-align:justify;text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Administration costs of this operating segment for the three months ended March 31, 2025 amounted to &#8364;518 million, a 29.7% increase compared with the &#8364;400 million recorded for the three months ended March 31, 2024, mainly as a result of the increase in salaries and in general expenses (technology, outsourced services and maintenance) driven to a great extent by the high average inflation rates, partially offset by the depreciation of the Turkish lira. At constant exchange rates, administration costs increased by 51.0%, which was above Turkey&#8217;s inflation rate for the period.</font></div><div style="margin-bottom:10pt;margin-top:10pt;text-align:justify;text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Depreciation and amortization</font></div><div style="margin-bottom:10pt;margin-top:10pt;text-align:justify;text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Depreciation and amortization for the three months ended March 31, 2025 was &#8364;59 million, a 31.0% increase compared with the &#8364;45 million recorded for the three months ended March 31, 2024, mainly due to increases in the depreciation expense related to IT equipment, partially offset by the depreciation of the Turkish lira. At constant exchange rates, there was a 41.4% increase.</font></div><div style="margin-bottom:10pt;margin-top:10pt;text-align:justify;text-indent:18pt"><font id="i67838b212de74264929617a7f88b3738_8955"></font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Impairment or reversal of impairment on financial assets not measured at fair value through profit or loss or net gains by modification</font></div><div style="margin-bottom:10pt;margin-top:10pt;text-align:justify;text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Impairment or reversal of impairment on financial assets not measured at fair value through profit or loss or net gains by modification of this operating segment for the three months ended March 31, 2025 was a &#8364;234 million expense, compared with the &#8364;75 million expense recorded for the three months ended March 31, 2024, mainly as a result of the increase in the expected losses related to the retail portfolio (mainly credit card and consumer loans, which volumes increased and also required higher credit impairments)</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">,</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> partially offset by higher reversal of impairment in the wholesale portfolio and the depreciation of the Turkish lira.</font></div><div style="margin-bottom:10pt;margin-top:10pt;text-align:justify;text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Provisions or reversal of provisions and other results</font></div><div style="margin-bottom:10pt;margin-top:10pt;text-align:justify;text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Provisions or reversal of provisions and other results of this operating segment for the three months ended March 31, 2025 were a &#8364;2 million expense, compared with the &#8364;36 million income recorded for the three months ended March 31, 2024. The three months ended March 31, 2024 were positively affected by the reversal of provisions for certain contingencies.</font></div><div style="height:42.52pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="margin-bottom:10pt;text-align:center"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:133%">29</font></div></div></div><hr style="page-break-after:always"><div style="min-height:42.52pt;width:100%"><div style="margin-bottom:6pt;margin-top:0.03pt;padding-left:0.56pt;text-align:justify"><font><br></font></div></div><div style="margin-bottom:10pt;margin-top:10pt;text-align:justify;text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Operating profit &#47; (loss) before tax</font></div><div style="margin-bottom:10pt;margin-top:10pt;text-align:justify;text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">As a result of the foregoing, operating profit before tax of this operating segment for the three months ended March 31, 2025 was &#8364;453 million, a 9.7% increase compared with the &#8364;413 million recorded for the three months ended March 31, 2024. At constant exchange rates, operating profit before tax increased by 70.9%.</font></div><div style="margin-bottom:10pt;margin-top:10pt;text-align:justify;text-indent:18pt"><font id="i67838b212de74264929617a7f88b3738_8963"></font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Tax expense or income related to profit or loss from continuing operations</font></div><div style="margin-bottom:10pt;margin-top:10pt;text-align:justify;text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Tax expense related to profit from continuing operations of this operating segment for the three months ended March 31, 2025 was &#8364;265 million, an 8.6% increase compared with the &#8364;244 million expense recorded for the three months ended March 31, 2024, mainly as a result of the higher operating profit before tax. At constant exchange rates, tax expense or income related to profit or loss from continuing operations increased by 28.7</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">%.</font></div><div style="margin-bottom:10pt;margin-top:10pt;text-align:justify;text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Profit attributable to non-controlling interests</font></div><div style="margin-bottom:10pt;margin-top:10pt;text-align:justify;text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Profit attributable to non-controlling interests of this operating segment for the three months ended March 31, 2025 amounted to &#8364;31 million, an 18.0% increase compared with the &#8364;26 million recorded for the three months ended March 31, 2024, as a result, in part, of the increase in profit.</font></div><div style="margin-bottom:10pt;margin-top:10pt;text-align:justify;text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Profit attributable to parent company</font></div><div style="margin-bottom:10pt;margin-top:10pt;text-align:justify;text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">As a result of the foregoing, profit attributable to parent company of this operating segment for the three months ended March 31, 2025 amounted to &#8364;158 million, a 9.9% increase compared with the &#8364;144 million recorded for the three months ended March 31, 2024.</font></div><div style="margin-bottom:10pt;margin-top:10pt;text-align:justify;text-indent:18pt"><font><br></font></div><div style="height:42.52pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="margin-bottom:10pt;text-align:center"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:133%">30</font></div></div></div><div id="i4a27b892ded141958e799b2ba3298497_61"></div><hr style="page-break-after:always"><div style="min-height:42.52pt;width:100%"><div style="margin-bottom:6pt;margin-top:0.03pt;padding-left:0.56pt;text-align:justify"><font><br></font></div></div><div style="margin-bottom:10pt;margin-top:10pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:120%">SOUTH AMERICA</font></div><div style="margin-bottom:6pt;margin-top:10pt;text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.893%"><tr><td style="width:1.0%"></td><td style="width:65.155%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:10.148%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:10.148%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:10.149%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="6" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:700;line-height:120%">For the three months ended March 31,</font></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:700;line-height:120%">2025</font></td><td colspan="3" style="border-bottom:1pt solid #000;border-top:1pt solid #000;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:700;line-height:120%">2024</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Change</font></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="6" style="border-top:1pt solid #000;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:700;line-height:120%">(In Millions of Euros)</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:700;line-height:120%">(In %)</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Net interest income</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:700;line-height:120%">1,231</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:700;line-height:120%">1,555</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:700;line-height:120%">(20.9)</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Net fees and commissions</font></td><td colspan="3" style="border-top:1pt solid #000;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%">227</font></td><td colspan="3" style="border-top:1pt solid #000;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%">193</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%">18.0</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Net gains (losses) on financial assets and liabilities and Exchange differences, net (1)</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%">188</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%">196</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%">(4.2)</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Other operating income and expense, net</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%">(237)</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%">(772)</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%">(69.3)</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Income and expense on insurance and reinsurance contracts</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%">29</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%">28</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%">1.5</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Gross income</font></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:700;line-height:120%">1,438</font></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:700;line-height:120%">1,201</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:700;line-height:120%">19.8</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Administration costs</font></td><td colspan="3" style="border-top:1pt solid #000;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%">(580)</font></td><td colspan="3" style="border-top:1pt solid #000;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%">(552)</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%">5.1</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Depreciation and amortization</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%">(55)</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%">(49)</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%">14.1</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Net margin before provisions (2)</font></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:700;line-height:120%">803</font></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:700;line-height:120%">600</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:700;line-height:120%">33.7</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Impairment or reversal of impairment on financial assets not measured at fair value through profit or loss or net gains by modification</font></td><td colspan="3" style="border-top:1pt solid #000;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%">(297)</font></td><td colspan="3" style="border-top:1pt solid #000;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%">(354)</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%">(16.2)</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Provisions or reversal of provisions and other results</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%">6</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%">(45)</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%">n.m. (3)</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Operating profit &#47; (loss) before tax</font></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:700;line-height:120%">512</font></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:700;line-height:120%">201</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:700;line-height:120%">154.7</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Tax expense or income related to profit or loss from continuing operations</font></td><td colspan="3" style="border-top:1pt solid #000;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%">(148)</font></td><td colspan="3" style="border-top:1pt solid #000;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%">(6)</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%">n.m. (3)</font></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Profit</font></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:700;line-height:120%">365</font></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:700;line-height:120%">195</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:700;line-height:120%">87.3</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Profit attributable to non-controlling interests</font></td><td colspan="3" style="border-top:1pt solid #000;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%">(146)</font></td><td colspan="3" style="border-top:1pt solid #000;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%">(75)</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%">94.2</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Profit attributable to parent company</font></td><td colspan="3" style="border-bottom:1pt solid #000;border-top:0.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:700;line-height:120%">218</font></td><td colspan="3" style="border-bottom:1pt solid #000;border-top:0.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:700;line-height:120%">119</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:700;line-height:120%">82.9</font></td></tr></table></div><div style="padding-left:18pt;text-align:justify;text-indent:-18pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(1)</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:120%;padding-left:8.68pt">Includes &#8220;Gains (losses) on derecognition of financial assets and liabilities not measured at fair value through profit or loss, net&#8221;, &#8220;Gains (losses) on financial assets and liabilities held for trading, net&#8221;, &#8220;Gains (losses) on non-trading financial assets mandatorily at fair value through profit or loss, net&#8221;, &#8220;Gains (losses) on financial assets and liabilities designated at fair value through profit or loss, net&#8221;, &#8220;Gains (losses) from hedge accounting, net&#8221; and &#8220;Exchange differences, net&#8221;.</font></div><div style="padding-left:18pt;text-align:justify;text-indent:-18pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(2)</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:120%;padding-left:8.68pt">&#8220;Net margin before provisions&#8221; is calculated as &#8220;Gross income&#8221; less &#8220;Administration costs&#8221; and &#8220;Depreciation and amortization&#8221;.</font></div><div style="padding-left:18pt;text-align:justify;text-indent:-18pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(3)</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:120%;padding-left:8.68pt">Not meaningful.</font></div><div style="margin-bottom:10pt;margin-top:10pt;text-align:justify;text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">In the three months ended March 31, 2025, the Argentine peso depreciated by 20.1% against the euro (considering the period-end exchange rates used to convert income statement items for the three months ended March 31, 2025 and 2024, respectively, pursuant to IAS 21) and the Colombian peso depreciated by 3.6% against the euro in average terms compared with the three months ended March 31, 2024. On the other hand, the Peruvian sol appreciated by 4.8% against the euro in average terms, compared with the three months ended March 31, 2024. Overall, changes in exchange rates resulted in a negative exchange rate effect on the consolidated income statement for the three months ended March 31, 2025 and in the results of operations of the South America operating segment for such period expressed in euros. See </font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%">&#8220;&#8213;Factors Affecting the Comparability of our Results of Operations and Financial Condition&#8213;Trends in Exchange Rates</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8221;.</font></div><div style="margin-bottom:10pt;margin-top:10pt;text-align:justify;text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">As of and for the three months ended March 31, 2025 and 2024, the Argentine and Venezuelan economies were considered to be hyperinflationary as defined by IAS 29 &#8220;Financial Reporting in Hyperinflationary Economies&#8221;.</font></div><div style="margin-bottom:10pt;margin-top:10pt;text-align:justify;text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> </font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Net interest income</font></div><div style="margin-bottom:10pt;margin-top:10pt;text-align:justify;text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Net interest income of this operating segment for the three months ended March 31, 2025 amounted to &#8364;1,231 million, a 20.9% decrease compared with the &#8364;1,555 million recorded for the three months ended March 31, 2024, mainly as a result of the lower yield in the securities portfolio and the lower yield and volume in the public sector loan portfolio, particularly in Argentina driven in part, with respect to the yield, by the decline in the monetary policy rate in Argentina, and the depreciation of the Argentine peso against the euro, partially offset by increases in the volume of the commercial loan portfolio in Argentina, and the consumer loan portfolio in Argentina. At constant exchange rates, there was a 12.4% decrease in net interest income. The net interest margin over average total assets of this operating segment amounted to 6.69% for the three months ended March 31, 2025, compared with 9.43% for the three months ended March 31, 2024.</font></div><div style="margin-bottom:10pt;margin-top:10pt;text-align:justify;text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Net fees and commissions</font></div><div style="margin-bottom:10pt;margin-top:10pt;text-align:justify;text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Net fees and commissions of this operating segment for the three months ended March 31, 2025 amounted to &#8364;227 million income, an 18.0% increase compared with the &#8364;193 million income recorded for the three months ended March 31, 2024, mainly due to increases in payment systems-related fees (in particular, related to credit cards), as a result of increases in the volume of transactions and commission rates in Argentina,</font><font style="background-color:#ffffff;color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> partially offset by the depreciation of the Argentine peso against the euro.</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> At constant exchange rates, there was a 23.0% increase.</font></div><div style="height:42.52pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="margin-bottom:10pt;text-align:center"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:133%">31</font></div></div></div><hr style="page-break-after:always"><div style="min-height:42.52pt;width:100%"><div style="margin-bottom:6pt;margin-top:0.03pt;padding-left:0.56pt;text-align:justify"><font><br></font></div></div><div style="margin-bottom:10pt;margin-top:10pt;text-align:justify;text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Net gains (losses) on financial assets and liabilities and Exchange differences, net</font></div><div style="margin-bottom:10pt;margin-top:10pt;text-align:justify;text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Net gains on financial assets and liabilities and exchange differences of this operating segment for the three months ended March 31, 2025 were &#8364;188 million, a 4.2% decrease compared with the &#8364;196 million gain recorded for the three months ended March 31, 2024, mainly due to the depreciation of the Argentine peso against the euro, lower gains from the securities portfolio in Argentina and negative exchange differences in Colombia, partially offset by the better performance of the ALCO portfolio in Colombia. At constant exchange rates, net gains on financial assets and liabilities and exchange differences increased by 7.4%.</font></div><div style="margin-bottom:10pt;margin-top:10pt;text-align:justify;text-indent:18pt"><font id="if64a682b457e4dd69e1fcfcc71a8888d_8614"></font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Other operating income and expense, net</font></div><div style="margin-bottom:10pt;margin-top:10pt;text-align:justify;text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Other operating income and expense, net of this operating segment for the three months ended March 31, 2025 was a &#8364;237 million expense, a 69.3% decrease compared with the &#8364;772 million expense recorded for the three months ended March 31, 2024, mainly driven by the lower loss on the net monetary position resulting from the adjustment for hyperinflation in Argentina, which resulted in a monetary loss of &#8364;117 million in the three months ended March 31, 2025, compared to the &#8364;655 million monetary loss recorded for the three months ended March 31, 2024.</font></div><div style="margin-bottom:10pt;margin-top:10pt;text-align:justify;text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Income and expense on insurance and reinsurance contracts</font></div><div style="margin-bottom:10pt;margin-top:10pt;text-align:justify;text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Net income on insurance and reinsurance contracts of this operating segment for the three months ended March 31, 2025 was &#8364;29 million, a 1.5% increase compared with the &#8364;28 million income recorded for the three months ended March 31, 2024, mainly as a result of higher income related to life insurance in Argentina, partially offset by the depreciation of the Argentine peso against the euro. At constant exchange rates, there was a 7.9% increase.</font></div><div style="margin-bottom:10pt;margin-top:10pt;text-align:justify;text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Administration costs</font></div><div style="margin-bottom:10pt;margin-top:10pt;text-align:justify;text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Administration costs of this operating segment for the three months ended March 31, 2025 amounted to &#8364;580 million, a 5.1% increase compared with the &#8364;552 million recorded for the three months ended March 31, 2024, mainly as a result of increases in personnel expenses, mainly driven by salary updates (aimed at compensating the loss of purchasing power due to inflation) and certain general expenses related to technology (affected by the high inflation) in Argentina, partially offset by the depreciation of the Argentine peso against the euro. At constant exchange rates, there was a 12.0% increase.</font></div><div style="margin-bottom:10pt;margin-top:10pt;text-align:justify;text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Depreciation and amortization</font></div><div style="margin-bottom:10pt;margin-top:10pt;text-align:justify;text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Depreciation and amortization for the three months ended March 31, 2025 was a &#8364;55 million expense, a 14.1% increase compared with the &#8364;49 million expense recorded for the three months ended March 31, 2024 mainly due to the increase in the depreciation expense related to IT equipment in Argentina.</font></div><div style="margin-bottom:10pt;margin-top:10pt;text-align:justify;text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Impairment or reversal of impairment on financial assets not measured at fair value through profit or loss or net gains by modification</font></div><div style="margin-bottom:10pt;margin-top:10pt;text-align:justify;text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Impairment or reversal of impairment on financial assets not measured at fair value through profit or loss or net gains by modification of this operating segment for the three months ended March 31, 2025 was a &#8364;297 million expense, a 16.2% decrease compared with the &#8364;354 million expense recorded for the three months ended March 31, 2024, mainly as a result of lower credit impairment requirements in the household loan portfolio in Peru and, to a lesser extent, the depreciation of the Argentine peso against the euro, partially offset by higher credit impairments in the household loan portfolio in Argentina as a result in part of the greater credit activity (as we increased private lending as a result of lower government borrowings). At constant exchange rates, there was a 14.9% decrease.</font></div><div style="margin-bottom:10pt;margin-top:10pt;text-align:justify;text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Provisions or reversal of provisions and other results</font></div><div style="margin-bottom:10pt;margin-top:10pt;text-align:justify;text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Provisions or reversal of provisions and other results of this operating segment for the three months ended March 31, 2025 were a &#8364;6 million income, compared with the &#8364;45 million expense recorded for the three months ended March 31, 2024, attributable mainly to lower provisions for contingencies.</font></div><div style="margin-bottom:10pt;margin-top:10pt;text-align:justify;text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Operating profit &#47; (loss) before tax</font></div><div style="margin-bottom:10pt;margin-top:10pt;text-align:justify;text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">As a result of the foregoing, operating profit before tax of this operating segment for the three months ended March 31, 2025 was &#8364;512 million compared with the &#8364;201 million profit recorded for the three months ended March 31, 2024.</font></div><div style="margin-bottom:10pt;margin-top:10pt;text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Tax expense or income related to profit or loss from continuing operations</font></div><div style="margin-bottom:10pt;margin-top:10pt;text-align:justify;text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Tax expense related to profit from continuing operations of this operating segment for the three months ended March 31, 2025 was &#8364;148 million, compared with the &#8364;6 million expense recorded for the three months ended March 31, 2024, mainly as a result of the higher operating profit before tax.</font></div><div style="height:42.52pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="margin-bottom:10pt;text-align:center"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:133%">32</font></div></div></div><hr style="page-break-after:always"><div style="min-height:42.52pt;width:100%"><div style="margin-bottom:6pt;margin-top:0.03pt;padding-left:0.56pt;text-align:justify"><font><br></font></div></div><div style="margin-bottom:10pt;margin-top:10pt;text-align:justify;text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Profit attributable to non-controlling interests</font></div><div style="margin-bottom:10pt;margin-top:10pt;text-align:justify;text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Profit attributable to non-controlling interests of this operating segment for the three months ended March 31, 2025 amounted to &#8364;146 million, a 94.2% increase compared with the &#8364;75 million recorded for the three months ended March 31, 2024, mainly due to the higher operating profit before tax.</font></div><div style="margin-bottom:10pt;margin-top:10pt;text-align:justify;text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Profit attributable to parent company</font></div><div style="margin-bottom:10pt;margin-top:10pt;text-align:justify;text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">As a result of the foregoing, profit attributable to parent company of this operating segment for the three months ended March 31, 2025 amounted to &#8364;218 million, an 82.9% increase compared with the &#8364;119 million recorded for the three months ended March 31, 2024.</font></div><div style="height:42.52pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="margin-bottom:10pt;text-align:center"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:133%">33</font></div></div></div><div id="i4a27b892ded141958e799b2ba3298497_64"></div><hr style="page-break-after:always"><div style="min-height:42.52pt;width:100%"><div style="margin-bottom:6pt;margin-top:0.03pt;padding-left:0.56pt;text-align:justify"><font><br></font></div></div><div style="margin-bottom:10pt;margin-top:10pt;text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:120%">REST OF BUSINESS</font></div><div style="margin-bottom:6pt;margin-top:10pt;text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.893%"><tr><td style="width:1.0%"></td><td style="width:65.155%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:10.148%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:10.148%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:10.149%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="6" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:700;line-height:120%">For the three months ended March 31,</font></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:700;line-height:120%">2025</font></td><td colspan="3" style="border-bottom:1pt solid #000;border-top:1pt solid #000;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:700;line-height:120%">2024</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Change</font></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="6" style="border-top:1pt solid #000;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:700;line-height:120%">(In Millions of Euros)</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:700;line-height:120%">(In %)</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Net interest income</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:700;line-height:120%">191</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:700;line-height:120%">157</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:700;line-height:120%">21.8</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Net fees and commissions</font></td><td colspan="3" style="border-top:1pt solid #000;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%">137</font></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%">88</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%">56.0</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Net gains (losses) on financial assets and liabilities and Exchange differences, net (1)</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%">107</font></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%">94</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%">14.1</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Other operating income and expense, net</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%">&#8212;</font></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%">&#8212;</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%">133.3</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Income and expense on insurance and reinsurance contracts</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%">1</font></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%">1</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%">0.1</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Gross income</font></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:700;line-height:120%">437</font></td><td colspan="3" style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:700;line-height:120%">339</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:700;line-height:120%">28.6</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Administration costs</font></td><td colspan="3" style="border-top:1pt solid #000;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%">(192)</font></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%">(152)</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%">25.7</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Depreciation and amortization</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%">(9)</font></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%">(7)</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%">16.0</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><div><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Net margin before provisions (2)</font></div></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:700;line-height:120%">236</font></td><td colspan="3" style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:700;line-height:120%">180</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:700;line-height:120%">31.6</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Impairment or reversal of impairment on financial assets not measured at fair value through profit or loss or net gains by modification</font></td><td colspan="3" style="border-top:1pt solid #000;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%">(19)</font></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%">(16)</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%">17.9</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Provisions or reversal of provisions and other results</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%">3</font></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%">(1)</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%">n.m. (3)</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Operating profit &#47; (loss) before tax</font></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:700;line-height:120%">220</font></td><td colspan="3" style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:700;line-height:120%">163</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:700;line-height:120%">35.6</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Tax expense or income related to profit or loss from continuing operations</font></td><td colspan="3" style="border-top:1pt solid #000;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%">(47)</font></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%">(40)</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%">16.8</font></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Profit</font></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:700;line-height:120%">173</font></td><td colspan="3" style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:700;line-height:120%">122</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:700;line-height:120%">41.8</font></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Profit attributable to parent company</font></td><td colspan="3" style="border-bottom:1pt solid #000;border-top:1pt solid #000;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:700;line-height:120%">173</font></td><td colspan="3" style="background-color:#ffffff;border-bottom:1pt solid #000;border-top:1pt solid #000;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:700;line-height:120%">122</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:700;line-height:120%">41.8</font></td></tr></table></div><div style="padding-left:18pt;text-align:justify;text-indent:-18pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(1)</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:120%;padding-left:8.68pt">Includes &#8220;Gains (losses) on derecognition of financial assets and liabilities not measured at fair value through profit or loss, net&#8221;, &#8220;Gains (losses) on financial assets and liabilities held for trading, net&#8221;, &#8220;Gains (losses) on non-trading financial assets mandatorily at fair value through profit or loss, net&#8221;, &#8220;Gains (losses) on financial assets and liabilities designated at fair value through profit or loss, net&#8221;, &#8220;Gains (losses) from hedge accounting, net&#8221; and &#8220;Exchange differences, net&#8221;.</font></div><div style="padding-left:18pt;text-align:justify;text-indent:-18pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(2)</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:120%;padding-left:8.68pt">&#8220;Net margin before provisions&#8221; is calculated as &#8220;Gross income&#8221; less &#8220;Administration costs&#8221; and &#8220;Depreciation and amortization&#8221;.</font></div><div style="padding-left:18pt;text-align:justify;text-indent:-18pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(3)</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:120%;padding-left:8.68pt">Not meaningful.</font></div><div style="margin-bottom:10pt;margin-top:10pt;text-align:justify;text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">In the three months ended March 31, 2025, the U.S. dollar appreciated by 3.2% against the euro in average terms, compared with the three months ended March 31, 2024. See &#8220;</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%">&#8213;Factors Affecting the Comparability of our Results of Operations and Financial Condition&#8213;Trends in Exchange Rates</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8221;.</font></div><div style="margin-bottom:10pt;margin-top:10pt;text-align:justify;text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> </font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Net interest income</font></div><div style="margin-bottom:10pt;margin-top:10pt;text-align:justify;text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Net interest income of this operating segment for the three months ended March 31, 2025 amounted to &#8364;191 million, a 21.8% increase compared with the &#8364;157 million recorded for the three months ended March 31, 2024, mainly due to increase in the corporate and investment banking activity of the branches located in New York and Europe, supported by the increase in loan activity and careful price management. The net interest margin over average total assets of this operating segment amounted to 1.19% for the three months ended March 31, 2025, compared with 1.02% for the three months ended March 31, 2024.</font></div><div style="margin-bottom:10pt;margin-top:10pt;text-align:justify;text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Net fees and commissions</font></div><div style="margin-bottom:10pt;margin-top:10pt;text-align:justify;text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Net fees and commissions of this operating segment for the three months ended March 31, 2025 amounted to &#8364;137 million, a 56.0% increase compared with the &#8364;88 million recorded for the three months ended March 31, 2024 mainly due to increased investment banking activity and, to a lesser extent, the appreciation of the U.S. dollar against the euro in average terms.</font></div><div style="margin-bottom:10pt;margin-top:10pt;text-align:justify;text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Net gains (losses) on financial assets and liabilities and Exchange differences, net</font></div><div style="margin-bottom:10pt;margin-top:10pt;text-align:justify;text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Net gains on financial assets and liabilities and exchange differences of this operating segment for the three months ended March 31, 2025 were &#8364;107 million, a 14.1% increase compared with the &#8364;94 million net gain recorded for the three months ended March 31, 2024, mainly due to the higher positive exchange differences in Europe, the higher trading activity in the New York branch and, to a lesser extent, the appreciation of the U.S. dollar against the euro in average terms, partially offset by lower trading gains in Europe.</font></div><div style="margin-bottom:10pt;margin-top:10pt;text-align:justify;text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Administration costs</font></div><div style="margin-bottom:10pt;margin-top:10pt;text-align:justify;text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Administration costs of this operating segment for the three months ended March 31, 2025 amounted to &#8364;192 million, a 25.7% increase compared with the &#8364;152 million recorded for the three months ended March 31, 2024, mainly due to increases in personnel expenses in the branches located in New York and Europe and, to a lesser extent, the appreciation of the U.S. dollar against the euro in average terms.</font></div><div style="height:42.52pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="margin-bottom:10pt;text-align:center"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:133%">34</font></div></div></div><hr style="page-break-after:always"><div style="min-height:42.52pt;width:100%"><div style="margin-bottom:6pt;margin-top:0.03pt;padding-left:0.56pt;text-align:justify"><font><br></font></div></div><div style="margin-bottom:10pt;margin-top:10pt;text-align:justify;text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Depreciation and amortization</font></div><div style="margin-bottom:10pt;margin-top:10pt;text-align:justify;text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Depreciation and amortization for the three months ended March 31, 2025 amounted to &#8364;9 million, a 16.0% increase compared with the &#8364;7 million recorded for the three months ended March 31, 2024.</font></div><div style="margin-bottom:10pt;margin-top:10pt;text-align:justify;text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Impairment or reversal of impairment on financial assets not measured at fair value through profit or loss or net gains by modification</font></div><div style="margin-bottom:10pt;margin-top:10pt;text-align:justify;text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Impairment or reversal of impairment on financial assets not measured at fair value through profit or loss or net gains by modification of this operating segment for the three months ended March 31, 2025 was a &#8364;19 million expense, a 17.9% increase compared with the &#8364;16 million expense recorded for the three months ended March 31, 2024, mainly as a result of the higher credit impairment requirements related to certain impairment entries in the household loan portfolios in Europe.</font></div><div style="margin-bottom:10pt;margin-top:10pt;text-align:justify;text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Provisions or reversal of provisions and other results</font></div><div style="margin-bottom:10pt;margin-top:10pt;text-align:justify;text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Provisions or reversal of provisions and other results of this operating segment for the three months ended March 31, 2025 were a &#8364;3 million income, compared with the &#8364;1 million expense recorded for the three months ended March 31, 2024.</font></div><div style="margin-bottom:10pt;margin-top:10pt;text-align:justify;text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Operating profit &#47; (loss) before tax</font></div><div style="margin-bottom:10pt;margin-top:10pt;text-align:justify;text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">As a result of the foregoing, operating profit before tax of this operating segment for the three months ended March 31, 2025 was &#8364;220 million, a 35.6% increase compared with the &#8364;163 million recorded for the three months ended March 31, 2024.</font></div><div style="margin-bottom:10pt;margin-top:10pt;text-align:justify;text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Tax expense or income related to profit or loss from continuing operations</font></div><div style="margin-bottom:10pt;margin-top:10pt;text-align:justify;text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Tax expense related to profit from continuing operations of this operating segment for the three months ended March 31, 2025 was &#8364;47 million, a 16.8% increase compared with the &#8364;40 million expense recorded for the three months ended March 31, 2024, due mainly to the increase in operating profit.</font></div><div style="margin-bottom:10pt;margin-top:10pt;text-align:justify;text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Profit attributable to parent company</font></div><div style="margin-bottom:10pt;margin-top:10pt;text-align:justify;text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">As a result of the foregoing, profit attributable to parent company of this operating segment for the three months ended March 31, 2025 amounted to &#8364;173 million, a 41.8% increase compared with the &#8364;122 million recorded for the three months ended March 31, 2024.</font></div><div style="height:42.52pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="margin-bottom:10pt;text-align:center"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:133%">35</font></div></div></div><div id="i4a27b892ded141958e799b2ba3298497_67"></div><hr style="page-break-after:always"><div style="min-height:42.52pt;width:100%"><div style="margin-bottom:6pt;margin-top:0.03pt;padding-left:0.56pt;text-align:justify"><font><br></font></div></div><div style="margin-bottom:10pt;margin-top:10pt;text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:120%">CORPORATE CENTER</font></div><div style="margin-bottom:6pt;margin-top:10pt;text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.893%"><tr><td style="width:1.0%"></td><td style="width:65.155%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:10.148%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:10.148%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:10.149%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="6" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:700;line-height:120%">For the three months ended March 31,</font></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:700;line-height:120%">2025</font></td><td colspan="3" style="border-bottom:1pt solid #000;border-top:1pt solid #000;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:700;line-height:120%">2024</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Change</font></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="6" style="border-top:1pt solid #000;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:700;line-height:120%">(In Millions of Euros)</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:700;line-height:120%">(In %)</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Net interest income &#47; (expense)</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:700;line-height:120%">(99)</font></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:700;line-height:120%">(64)</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:700;line-height:120%">55.0</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Net fees and commissions</font></td><td colspan="3" style="border-top:1pt solid #000;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%">(26)</font></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%">(11)</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%">133.0</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Net gains (losses) on financial assets and liabilities and Exchange differences, net (1)</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%">61</font></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%">(259)</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%">n.m. (2)</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Other operating income and expense, net</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%">8</font></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%">6</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%">26.6</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Income and expense on insurance and reinsurance contracts</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%">&#8212;</font></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%">(1)</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%">(95.8)</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Gross income</font></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:700;line-height:120%">(55)</font></td><td colspan="3" style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:700;line-height:120%">(329)</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:700;line-height:120%">(83.1)</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Administration costs</font></td><td colspan="3" style="border-top:1pt solid #000;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%">(135)</font></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%">(114)</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%">18.6</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Depreciation and amortization</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%">(54)</font></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%">(53)</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%">2.1</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Net margin before provisions (3)</font></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:700;line-height:120%">(245)</font></td><td colspan="3" style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:700;line-height:120%">(496)</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:700;line-height:120%">(50.6)</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Impairment or reversal of impairment on financial assets not measured at fair value through profit or loss or net gains by modification</font></td><td colspan="3" style="border-top:1pt solid #000;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%">(1)</font></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%">1</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%">n.m. (2)</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Provisions or reversal of provisions and other results</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%">4</font></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%">36</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%">(90.1)</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Operating profit &#47; (loss) before tax</font></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:700;line-height:120%">(242)</font></td><td colspan="3" style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:700;line-height:120%">(459)</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:700;line-height:120%">(47.2)</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Tax expense or income related to profit or loss from continuing operations</font></td><td colspan="3" style="border-top:1pt solid #000;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%">41</font></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%">125</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%">(67.1)</font></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Profit &#47; (loss)</font></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:700;line-height:120%">(201)</font></td><td colspan="3" style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:700;line-height:120%">(334)</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:700;line-height:120%">(39.7)</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Profit &#47; (loss) attributable to non-controlling interests</font></td><td colspan="3" style="border-top:1pt solid #000;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%">(6)</font></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%">(5)</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%">39.2</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Profit &#47; (loss) attributable to parent company</font></td><td colspan="3" style="border-bottom:1pt solid #000;border-top:0.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:700;line-height:120%">(208)</font></td><td colspan="3" style="background-color:#ffffff;border-bottom:1pt solid #000;border-top:0.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:700;line-height:120%">(339)</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:700;line-height:120%">(38.7)</font></td></tr></table></div><div style="padding-left:18pt;text-align:justify;text-indent:-18pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(1)</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:120%;padding-left:8.68pt">Includes &#8220;Gains (losses) on derecognition of financial assets and liabilities not measured at fair value through profit or loss, net&#8221;, &#8220;Gains (losses) on financial assets and liabilities held for trading, net&#8221;, &#8220;Gains (losses) on non-trading financial assets mandatorily at fair value through profit or loss, net&#8221;, &#8220;Gains (losses) on financial assets and liabilities designated at fair value through profit or loss, net&#8221;, &#8220;Gains (losses) from hedge accounting, net&#8221; and &#8220;Exchange differences, net&#8221;.</font></div><div style="padding-left:18pt;text-align:justify;text-indent:-18pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(2)</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:120%;padding-left:8.68pt">Not meaningful.</font></div><div style="padding-left:18pt;text-align:justify;text-indent:-18pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(3)</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:120%;padding-left:8.68pt">&#8220;Net margin before provisions&#8221; is calculated as &#8220;Gross income&#8221; less &#8220;Administration costs&#8221; and &#8220;Depreciation and amortization&#8221;.</font></div><div style="margin-bottom:10pt;margin-top:10pt;text-align:justify;text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> </font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Net interest income &#47; (expense)</font></div><div style="margin-bottom:10pt;margin-top:10pt;text-align:justify;text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Net interest expense of the Corporate Center for the three months ended March 31, 2025 was &#8364;99 million, a 55.0% increase compared with the &#8364;64 million net expense recorded for the three months ended March 31, 2024, mainly due to the higher funding costs within a global high interest rate environment.</font></div><div style="margin-bottom:10pt;margin-top:10pt;text-align:justify;text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Net fees and commissions</font></div><div style="margin-bottom:10pt;margin-top:10pt;text-align:justify;text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Net fees and commissions of the Corporate Center was an expense of &#8364;26 million for the three months ended March 31, 2025 compared with the &#8364;11 million expense recorded for the three months ended March 31, 2024, mainly as a result of the higher fees paid in connection with the debt issuances carried out by Banco Bilbao Vizcaya Argentaria, S.A.</font></div><div style="margin-bottom:10pt;margin-top:10pt;text-align:justify;text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Net gains (losses) on financial assets and liabilities and Exchange differences, net</font></div><div style="margin-bottom:10pt;margin-top:10pt;text-align:justify;text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Net gains on financial assets and liabilities and exchange differences of the Corporate Center for the three months ended March 31, 2025 were a &#8364;61 million gain, compared with the &#8364;259 million loss recorded for the three months ended March 31, 2024, mainly as a result of gains from certain foreign currency hedges (recorded in the ALCO portfolio of the Corporate Center) on the estimated results of the operating segments, resulting, to a great extent, from the evolution of the Mexican peso, and the gains from certain venture capital investments, partially offset by</font><font style="background-color:#ffffff;color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> the negative exchange differences, in particular, with respect to the U.S. dollar</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%">.</font></div><div style="margin-bottom:10pt;margin-top:10pt;text-align:justify;text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Other operating income and expense, net</font></div><div style="margin-bottom:10pt;margin-top:10pt;text-align:justify;text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Other operating income and expense, net of the Corporate Center for the three months ended March 31, 2025 was &#8364;8 million of net income, a 26.6% increase compared with the &#8364;6 million net income recorded for the three months ended March 31, 2024.</font></div><div style="margin-bottom:10pt;margin-top:10pt;text-align:justify;text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Administration costs</font></div><div style="margin-bottom:10pt;margin-top:10pt;text-align:justify;text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Administration costs of the Corporate Center for the three months ended March 31, 2025 amounted to &#8364;135 million, an 18.6% increase compared with the &#8364;114 million recorded for the three months ended March 31, 2024 mainly due to higher personnel expenses.</font></div><div style="height:42.52pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="margin-bottom:10pt;text-align:center"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:133%">36</font></div></div></div><hr style="page-break-after:always"><div style="min-height:42.52pt;width:100%"><div style="margin-bottom:6pt;margin-top:0.03pt;padding-left:0.56pt;text-align:justify"><font><br></font></div></div><div style="margin-bottom:10pt;margin-top:10pt;text-align:justify;text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Depreciation and amortization</font></div><div style="margin-bottom:10pt;margin-top:10pt;text-align:justify;text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Depreciation and amortization of the Corporate Center for the three months ended March 31, 2025 was &#8364;54 million, a 2.1% increase compared with the &#8364;53 million recorded for the three months ended March 31, 2024.</font></div><div style="margin-bottom:10pt;margin-top:10pt;text-align:justify;text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Provisions or reversal of provisions and other results</font></div><div style="margin-bottom:10pt;margin-top:10pt;text-align:justify;text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Provisions or reversal of provisions and other results of the Corporate Center for the three months ended March 31, 2025 were a &#8364;4 million of income, a 90.1% decrease compared with the &#8364;36 million income recorded for the three months ended March 31, 2024, mainly due to lower income from certain investments in associates.</font></div><div style="margin-bottom:10pt;margin-top:10pt;text-align:justify;text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Operating profit &#47; (loss) before tax</font></div><div style="margin-bottom:10pt;margin-top:10pt;text-align:justify;text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">As a result of the foregoing, operating loss before tax of the Corporate Center for the three months ended March 31, 2025 was &#8364;242 million, a 47.2% decrease compared with the &#8364;459 million loss recorded for the three months ended March 31, 2024.</font></div><div style="margin-bottom:10pt;margin-top:10pt;text-align:justify;text-indent:18pt"><font id="i8f1d1a396c7446dca603b3b72ef48e46_3519"></font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Tax expense or income related to profit or loss from continuing operations</font></div><div style="margin-bottom:10pt;margin-top:10pt;text-align:justify;text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Tax income related to loss from continuing operations of the Corporate Center for the three months ended March 31, 2025 amounted to &#8364;41 million, compared with the &#8364;125 million income recorded for the three months ended March 31, 2024, mainly due to the lower operating loss before tax. </font></div><div style="margin-bottom:10pt;margin-top:10pt;text-align:justify;text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Profit &#47; (loss) attributable to parent company</font></div><div style="margin-bottom:10pt;margin-top:10pt;text-align:justify;text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">As a result of the foregoing, loss attributable to parent company of the Corporate Center for the three months ended March 31, 2025 was &#8364;208 million, a </font><font style="background-color:#ffffff;color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">38.7</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">% decrease compared with the &#8364;339 million loss recorded for the three months ended March 31, 2024.</font></div><div id="i4a27b892ded141958e799b2ba3298497_76"></div><div style="margin-bottom:10pt;margin-top:10pt;text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Capital</font></div><div style="margin-bottom:10pt;margin-top:10pt;text-align:justify;text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">March 31, 2025 information presented below is based on preliminary data.</font></div><div style="margin-bottom:10pt;margin-top:10pt;text-align:justify;text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">As of March 31, 2025 and December 31, 2024, own funds are calculated in accordance with the applicable regulations on minimum capital requirements for Spanish credit institutions both at an individual entity level and as a consolidated group. Such regulations establish how to calculate own funds, as well as the various required internal capital adequacy assessment processes and the information required to be disclosed to the market.</font></div><div style="margin-bottom:10pt;margin-top:10pt;text-align:justify;text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The minimum capital requirements established by the current regulations are calculated according to the Group&#8217;s exposure to credit and dilution risk, counterparty and liquidity risk relating to the trading portfolio, exchange-rate risk and operational risk. In addition, the Group must fulfill the risk concentration limits established in these regulations and internal corporate governance obligations.</font></div><div style="margin-bottom:10pt;margin-top:10pt;text-align:justify;text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">As a result of the most recent Supervisory Review and Evaluation Process (SREP) carried out by the ECB, BBVA must maintain, at a consolidated level, as from January 1, 2025, a CET1 capital ratio of 9.13% and a total capital ratio of 13.29%. The consolidated total capital requirement includes&#58; (i) the &#8220;Pillar 1&#8221; capital requirement (8.00%), of which a minimum of 4.50% must be met with CET1 capital, 1.50% could be met with AT1 instruments and 2.00% could be met with Tier 2 instruments&#59; (ii) the &#8220;Pillar 2&#8221; capital requirement (1.68%), of which a minimum of 1.02% must be met with CET1 capital (of which 0.18% is determined on the basis of the ECB&#8217;s prudential provisioning expectation), 0.28% could be met with AT1 instruments and 0.38% could be met with Tier 2 instruments&#59; (iii) the capital conservation buffer (2.50% that must be met exclusively with CET1 capital)&#59; (iv) the D-SIB capital buffer (1.00% that must be met exclusively with CET1 capital)&#59; and (v) the capital buffer for Countercyclical Risk (0.11% that must be met exclusively with CET1 capital). In addition, the Systemic Risk buffer is 0.00%.</font></div><div style="margin-bottom:10pt;margin-top:10pt;text-align:justify;text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">BBVA Group&#8217;s CET1 ratio</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:6.5pt;font-weight:400;line-height:120%;position:relative;top:-3.5pt;vertical-align:baseline">2</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> stood at 13.09% as of March 31, 2025, which represents an increase of 21 basis points compared to December 31, 2024 mainly due to the profit of the BBVA Group recorded during the three months ended March 31, 2025. The entry into force of the new CRR III regulation had no significant impact on this ratio.</font></div><div style="margin-bottom:10pt;margin-top:10pt;text-align:justify;text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Risk-weighted assets (RWA) increased in the three months ended March 31, 2025 by approximately &#8364;884 million, mainly as a result of the increase in commercial loans and, to a lesser extent, the increase in debt securities, partially offset mainly by the depreciation of the currencies of the main countries where the Group operates, except for the Colombian peso. See </font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%">&#8220;&#8213;Factors Affecting the Comparability of our Results of Operations and Financial Condition&#8213;Trends in Exchange Rates</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8221;.</font></div><div style="border-bottom:1pt solid #000000;margin-bottom:5pt;margin-top:10pt;opacity:1;width:150pt"></div><div style="padding-left:17.86pt;text-align:justify;text-indent:-17.86pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:5.2pt;font-weight:400;line-height:120%;position:relative;top:-2.8pt;vertical-align:baseline">2</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> A</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:120%">s of March 31, 2025 and December 31, 2024, there were no differences between fully loaded and phased-in ratios given that the impact associated with the transitional adjustments is nil.</font></div><div style="height:42.52pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="margin-bottom:10pt;text-align:center"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:133%">37</font></div></div></div><hr style="page-break-after:always"><div style="min-height:42.52pt;width:100%"><div style="margin-bottom:6pt;margin-top:0.03pt;padding-left:0.56pt;text-align:justify"><font><br></font></div></div><div style="margin-bottom:10pt;margin-top:10pt;text-align:justify;text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The AT1 ratio stood at 1.44% as of March 31, 2025, a decrease of 9 basis point from December 31, 2024. During the three months ended March 31, 2025, Banco Bilbao Vizcaya Argentaria, S.A. completed an issuance for an amount of USD 1.0 billion of contingent convertible preferred securities (CoCos), as well as the early redemption of another issuance for the same amount. The depreciation of the U.S. dollar had a negative impact on the AT1 contribution of such CoCos.</font></div><div style="margin-bottom:10pt;margin-top:10pt;text-align:justify;text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Tier 2 ratio stood at 3.02% as of March 31, 2025, which represents an increase of 52 basis points compared to December 31, 2024, mainly due to the issuance of subordinated debt by Banco Bilbao Vizcaya Argentaria, S.A. in Spain, amounting to &#8364;1.0 billion, during the three months ended March 31, 2025. In addition, in Mexico, USD 1.0 billion of subordinated debt was issued during such period.</font></div><div style="margin-bottom:10pt;margin-top:10pt;text-align:justify;text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">As a result of the above, the total capital ratio increased to 17.55% as of March 31, 2025.</font></div><div style="margin-bottom:10pt;margin-top:10pt;text-align:justify;text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The consolidated ratios as of March 31, 2025 and December 31, 2024 were as follows&#58; </font></div><div style="margin-top:10pt;text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.893%"><tr><td style="width:1.0%"></td><td style="width:61.920%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:17.389%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:17.391%"></td><td style="width:0.1%"></td></tr><tr><td colspan="9" style="padding:2px 1pt 2px 1.49pt;text-align:left;text-indent:-0.49pt;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:700;line-height:120%">CAPITAL BASE (MILLIONS OF EUROS) (1)</font></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="padding:0 1.18pt 0 1pt;text-indent:-0.18pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:700;line-height:120%">March 31, 2025 (2) </font></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:700;line-height:120%">December 31, 2024</font></td></tr><tr><td colspan="3" style="border-top:0.5pt solid #6d6d6d;padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Common Equity Tier 1 (CET1)</font></td><td colspan="3" style="border-top:0.25pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%">51,745</font></td><td colspan="3" style="border-top:0.25pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%">50,799</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Tier 1</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%">57,452</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%">56,822</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Tier 2</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%">11,946</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%">9,858</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Total capital (Tier 1 + Tier 2) </font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:700;line-height:120%">69,397</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:700;line-height:120%">66,680</font></td></tr><tr><td colspan="3" style="border-top:1pt solid #D3D3D3;padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Risk-weighted assets </font></td><td colspan="3" style="border-top:1pt solid #D3D3D3;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:700;line-height:120%">395,352</font></td><td colspan="3" style="border-top:1pt solid #D3D3D3;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:700;line-height:120%">394,468</font></td></tr><tr><td colspan="3" style="border-top:1pt solid #D3D3D3;padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%">CET1 (%)</font></td><td colspan="3" style="border-top:1pt solid #D3D3D3;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%">13.09</font></td><td colspan="3" style="border-top:1pt solid #D3D3D3;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%">12.88</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Tier 1 (%)</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%">14.53</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%">14.40</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Tier 2 (%) </font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%">3.02</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%">2.50</font></td></tr><tr><td colspan="3" style="border-bottom:1pt solid #D3D3D3;padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Total capital ratio (%) </font></td><td colspan="3" style="border-bottom:1pt solid #D3D3D3;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:700;line-height:120%">17.55</font></td><td colspan="3" style="border-bottom:1pt solid #D3D3D3;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:700;line-height:120%">16.90</font></td></tr></table></div><div style="padding-left:18pt;text-align:justify;text-indent:-18pt"><font style="background-color:#ffffff;color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(1)</font><font style="background-color:#ffffff;color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:120%;padding-left:8.68pt">December 31, 2024 data and ratios are presented according to the requirements under CRR II. March 31, 2025 data and ratios have been calculated applying the regulatory changes of CRR III.</font></div><div style="padding-left:18pt;text-align:justify;text-indent:-18pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(2)</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:120%;padding-left:8.68pt">Based on preliminary data.</font></div><div style="margin-bottom:10pt;margin-top:10pt;text-align:justify;text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">As of March 31, 2025, the leverage ratio (calculated by dividing BBVA&#8217;s Tier 1 capital by its total leverage ratio exposure measure, which includes BBVA&#8217;s assets and off-balance-sheet items) stood at 6.94% compared to 6.81% as of December 31, 2024. In the three months ended March 31, 2025, Tier 1 capital increased, supported by the generation of results during the three months ended March 31, 2025, while there was lower exposure to off-balance sheet assets, which together resulted in an increase of 13 basis points in the leverage ratio compared to December 31, 2024.</font></div><div style="margin-bottom:10pt;margin-top:10pt;text-align:justify;text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">With regard to MREL (Minimum Requirement for own funds and Eligible Liabilities) requirements, BBVA must maintain, as from March 27, 2024, an amount of own funds and eligible liabilities equal to 22.79% of the total RWA of its resolution group, on sub-consolidated level (the &#8220;</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:120%">MREL in RWA</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8221;). Within this MREL in RWA, an amount equal to 13.50% of the RWA of the resolution group must be met with subordinated instruments (the &#8220;</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:120%">subordination requirement in RWA</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8221;). The MREL in RWA and the subordination requirement in RWA do not include the combined capital buffer requirement (3.65%, considering the last official update of the countercyclical capital buffer and the systemic risk buffer, calculated on the basis of exposure as of December 31, 2024, according to applicable regulations and supervisory criteria). Additionally, BBVA was required to meet, also as from March 27, 2024, a volume of own funds and eligible liabilities in terms of total exposure considered for the purpose of the calculation of the leverage ratio (the &#8220;</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:120%">MREL in LR</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8221;) of 8.48%. The MREL in RWA and MREL in LR ratios stood a</font><font style="background-color:#ffffff;color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">t </font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">33.20</font><font style="background-color:#ffffff;color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">% and </font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">12.51</font><font style="background-color:#ffffff;color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">%, respectively, while the subordinated ratios (subordination requirement in RWA and subordination requirement in LR, respectively, to be fulfilled only by capital and&#47;or subordinated instruments) were </font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">27.70</font><font style="background-color:#ffffff;color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">% and </font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">10.43</font><font style="background-color:#ffffff;color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">%, resp</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">ectively.</font></div><div style="margin-bottom:10pt;margin-top:10pt;text-align:justify;text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Given the structure of the resolution group&#8217;s own funds and eligible liabilities, as of March 31, 2025, the Group met the aforementioned requirements.</font></div><div style="margin-bottom:10pt;margin-top:10pt;text-align:justify;text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The March 31, 2025 ratios referred to above include the impact of the various debt issuances made by BBVA during the three months ended March 31, 2025 with the aim of reinforcing compliance with the aforementioned requirements.</font></div><div id="i4a27b892ded141958e799b2ba3298497_1099511628692"></div><div style="margin-bottom:10pt;margin-top:10pt;text-align:justify;text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">In addition, as from January 1, 2025, BBVA must maintain, at an individual entity level, a CET1 ratio of 7.99% and a total capital ratio of 12.15%. These ratios include a &#8220;Pillar 2&#8221; capital requirement at the individual entity level of 1.50%, of which at least 0.84% shall be met with CET1.</font></div><div style="margin-bottom:10pt;margin-top:10pt;text-align:justify;text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The individual ratios as of March 31, 2025 were as follows&#58; the CET1 ratio stood at 16.37%, the Tier 1 ratio stood at 19.09%, the Tier 2 ratio stood at 3.24% and the total capital ratio stood at 22.33%. Risk-weighted assets (RWA) on an individual entity level amounted to &#8364;203,176 million as of March 31, 2025. </font></div><div style="height:42.52pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="margin-bottom:10pt;text-align:center"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:133%">38</font></div></div></div><div id="i4a27b892ded141958e799b2ba3298497_79"></div><hr style="page-break-after:always"><div style="min-height:42.52pt;width:100%"><div style="margin-bottom:6pt;margin-top:0.03pt;padding-left:0.56pt;text-align:justify"><font><br></font></div></div><div style="text-align:center;text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:120%">OTHER MATTERS</font></div><div id="i4a27b892ded141958e799b2ba3298497_82"></div><div style="margin-bottom:10pt;margin-top:10pt;text-align:justify;text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Offer to exchange 100% of the shares of Banco de Sabadell, S.A. for shares of Banco Bilbao Vizcaya Argentaria, S.A. </font></div><div style="margin-bottom:10pt;margin-top:10pt;text-align:justify;text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">On April 17, 2024, the Chair of BBVA and the Chairman of Banco de Sabadell, S.A. (the &#8220;Target Company&#8221;) had a meeting in which the Chair of BBVA informed the Chairman of the Target Company about BBVA&#8217;s strategic and financial interest in resuming the merger discussions with the Target Company (by reference to the merger transaction discussed between BBVA and the Target Company in 2020 that ended without reaching any agreement), with a view to creating a leading bank, with greater scale and competitive capacity. On April 30, 2024 due to a media report regarding the abovementioned discussions between the Chair of BBVA and the Chairman of the Target Company, BBVA published an inside information notice (</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%">informaci&#243;n privilegiada</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">) confirming that the Chairman of the Target Company had been informed of BBVA&#8217;s board of directors&#8217; interest in initiating negotiations with the Target Company to explore a potential merger of BBVA and the Target Company. On that same day, BBVA made an indicative proposal in writing to the Target Company relating to a corporate transaction, consisting of the proposed combination of the BBVA Group and the Target Company and its consolidated subsidiaries, through a merger by absorption of the Target Company by BBVA (the Merger) (which was published as an inside information notice (</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%">informaci&#243;n privilegiada</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">) of BBVA on May 1, 2024 and registered with the Spanish Securities and Exchange Commission (&#8220;CNMV&#8221;) with registry number 2232). On May 6, 2024, the Target Company published an inside information notice </font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%">(informaci&#243;n privilegiada</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">) registered with the CNMV with registry number 2234, rejecting BBVA&#8217;s proposal. The Target Company has refused to negotiate with BBVA regarding its proposal.</font></div><div style="margin-bottom:10pt;margin-top:10pt;text-align:justify;text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Following such rejection, on May 9, 2024, BBVA announced, through the publication of an inside information notice (</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%">informaci&#243;n privilegiada</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">) (the &#8220;</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Prior Announcement</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8221;), the decision to launch an exchange offer (the &#8220;Exchange Offer&#8221;) for the acquisition of all of the issued and outstanding shares of the Target Company. The consideration offered by BBVA to the shareholders of the Target Company after the adjustments following the interim and final dividends paid by both companies, consists of one (1) newly issued share of BBVA and &#8364;0.70 in cash for every five point three four five six (5.3456) ordinary shares of the Target Company (the &#8220;</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Consideration</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8221;), subject to certain adjustments in the case of dividend distributions in accordance with what was indicated in the Prior Announcement.</font></div><div style="margin-bottom:10pt;margin-top:10pt;text-align:justify;text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Pursuant to the provisions of Royal Decree 1066&#47;2007, of July 27, 2007, on the rules governing tender offers, the Exchange Offer is subject to mandatory clearance by the CNMV (&#8220;CNMV Clearance&#8221;). Additionally, pursuant to the provisions of Law 10&#47;2014 and Royal Decree 84&#47;2015, the acquisition by BBVA of control of the Target Company resulting from the Exchange Offer is subject to the duty of prior notification to the Bank of Spain and the obtention of the non-opposition of the ECB (which condition was satisfied on September 5, 2024, as described below).</font></div><div style="margin-bottom:10pt;margin-top:10pt;text-align:justify;text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">In addition, completion of the Exchange Offer is also subject to the satisfaction of the conditions specified in the Prior Announcement, in particular (i) the acceptance of the Exchange Offer by a number of shares that allows BBVA to acquire at least more than half of the effective voting rights of the Target Company at the end of the Exchange Offer acceptance period (therefore excluding the treasury shares that the Target Company may hold at that time) as this condition was amended by BBVA in accordance with the inside information notice (</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%">informaci&#243;n privilegiada</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">) dated January 9, 2025, (ii) approval by BBVA&#8217;s General Shareholders&#8217; Meeting of the increase of BBVA&#8217;s share capital through the issue of new ordinary shares with non-cash contributions in an amount that is sufficient to fully cover the Consideration offered to the shareholders of the Target Company (which condition was satisfied on July 5, 2024, as described below), (iii) the express or tacit authorization of the economic concentration resulting from the Exchange Offer by the Spanish antitrust authorities, and (iv) the express or tacit authorization of the indirect acquisition of control of the Target Company&#8217;s banking subsidiary in the United Kingdom, TSB Bank PLC, by the United Kingdom Prudential Regulation Authority (PRA) (which condition was satisfied on September 2, 2024, as described below).</font></div><div style="margin-bottom:10pt;margin-top:10pt;text-align:justify;text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">On July 5, 2024, BBVA&#8217;s Extraordinary General Shareholders&#8217; Meeting approved to authorize the increase of BBVA&#8217;s share capital in an amount of up to &#8364;551,906,524.05 through the issuance of up to 1,126,339,845 newly-issued BBVA shares to be offered to the holders of the Target Company shares pursuant to the Exchange Offer. Such capital increase resolution was approved with shareholders representing 70.75% of the outstanding BBVA shares present at such meeting and 96% of such shareholders voting in favor. On March 21, 2025, BBVA&#8217;s Ordinary General Shareholders&#8217; Meeting approved the renewal of such resolution for its exercise within a one (1) year period from such date.</font></div><div style="margin-bottom:10pt;margin-top:10pt;text-align:justify;text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">On September 3, 2024, BBVA announced that it had received on September 2, 2024 the authorization from the Prudential Regulation Authority (PRA) for BBVA&#8217;s indirect acquisition of control of TSB Bank PLC, the Target Company&#8217;s banking subsidiary in the United Kingdom, as a result of the Exchange Offer.</font></div><div style="margin-bottom:10pt;margin-top:10pt;text-align:justify;text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">On September 5, 2024, BBVA announced that it received the decision of non-opposition from the European Central Bank to BBVA&#8217;s taking control of the Target Company, as a result of the Exchange Offer.</font></div><div style="height:42.52pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="margin-bottom:10pt;text-align:center"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:133%">39</font></div></div></div><hr style="page-break-after:always"><div style="min-height:42.52pt;width:100%"><div style="margin-bottom:6pt;margin-top:0.03pt;padding-left:0.56pt;text-align:justify"><font><br></font></div></div><div style="margin-bottom:10pt;margin-top:10pt;text-align:justify;text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">On November 12, 2024, the Spanish antitrust authorities announced their decision that further review of the economic concentration resulting from the Exchange Offer would be required, extending antitrust review into a second phase.</font></div><div style="margin-bottom:10pt;margin-top:10pt;text-align:justify;text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The detailed terms of the Exchange Offer will be set out in the Spanish prospectus (which was submitted together with the Exchange Offer request to the CNMV for their authorization on May 24, 2024 and will be published after obtaining CNMV Clearance) and the relevant U.S. offer to exchange&#47;prospectus.</font></div><div style="margin-bottom:10pt;margin-top:10pt;text-align:justify;text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">BBVA estimates a negative impact on the BBVA Group&#8217;s CET1 capital of 51 basis points as of December 31, 2024, including restructuring costs (or approximately 27 basis points excluding such costs, net of taxes and dividends and related prudential deductions) if the Exchange Offer were accepted by holders of the Target Company&#8217;s shares representing 100% of the share capital of the Target Company. These estimated impacts have been prepared by BBVA taking into consideration the dividend payments made by the Target Company and BBVA on October 1, 2024 and March 28, 2025 as well as October 10, 2024 and April 10, 2025, respectively.</font></div><div style="height:42.52pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="margin-bottom:10pt;text-align:center"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:133%">40</font></div></div></div><div id="i4a27b892ded141958e799b2ba3298497_85"></div><hr style="page-break-after:always"><div style="min-height:42.52pt;width:100%"><div style="margin-bottom:6pt;margin-top:0.03pt;padding-left:0.56pt;text-align:justify"><font><br></font></div></div><div style="margin-bottom:10pt;margin-top:10pt;text-align:justify;text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Regulatory Update for Spain</font></div><div style="margin-bottom:10pt;margin-top:10pt;text-align:justify;text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The below summary includes certain updates to the information included in &#8220;</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%">Item 4. Information on the Company&#8212;Business Overview&#8212;Supervision and Regulation&#8212;Principal Markets&#8212;Spain</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8221; in our 2024 Form 20-F. </font></div><div style="margin-bottom:10pt;margin-top:10pt;text-align:justify;text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%;text-decoration:underline">Investment Services</font></div><div style="margin-bottom:10pt;margin-top:10pt;text-align:justify;text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Several sustainability initiatives within the European Union are expected to significantly impact the asset management and retail investment services sectors during 2025. In particular&#58; (i) the European Securities and Markets Authority (&#8220;</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:120%">ESMA</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8221;) published the Guidelines on Funds' Names Using ESG or Sustainability-Related Terms in August 2024, which became effective on November 21, 2024. Asset managers are required to adapt the names of investment funds under their management as of that date&#8212;or, alternatively, adjust the investment policies of those funds&#8212;by May 21, 2025&#59; and (ii), with the imminent transposition of the Corporate Sustainability Reporting Directive (CSRD) into Spanish law, it is anticipated that, starting in 2025, asset managers exceeding certain thresholds will be obligated to prepare a sustainability report as part of their management report. Additionally, a degree of uncertainty remains regarding the European Commission's forthcoming actions following the consultation initiated at the end of 2023 concerning the implementation of the Sustainable Finance Disclosure Regulation (SFDR and the new package of proposals of the European Union which affects the Corporate Sustainability Reporting Directive (CSRD), the Corporate Sustainability Due Diligence Directive (CS3D) and the Taxonomy Regulation, which main purpose is simplification). The most significant and anticipated development is the potential establishment of a sustainable labeling system for financial products&#59; however, it is currently unknown whether this will come into effect during 2025.</font></div><div style="margin-bottom:10pt;margin-top:10pt;text-align:justify;text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Recent developments in financial services legislation include the following&#58;</font></div><div style="margin-bottom:10pt;margin-top:10pt;padding-left:36pt;text-align:justify;text-indent:-18pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:14.5pt">The European Commission has published a regulatory package called Retail Investment Strategy (&#8220;</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:120%">RIS</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8221;) which aims to increase the participation of retail investors in European capital markets. Directive 2014&#47;65&#47;EU on markets in financial instruments (MiFID) is included among the different EU directives to be reviewed, with relevant changes proposed in retail investor protection. The European Parliament and European Council have also published their alternatives to the European Commission proposal. The amendment of MiFID is not expected to be approved in 2025 and its content is likely to undergo relevant changes given the differing public positions of the various EU co-legislators. This initiative may be affected by the new proposal known as Savings and Investments Union (&#8220;</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:120%">SIU</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8221;).</font></div><div style="margin-bottom:10pt;margin-top:10pt;padding-left:36pt;text-align:justify;text-indent:-18pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:14.5pt">The European Commission has adopted its strategy for the SIU, a key initiative to improve the way the EU financial system channels savings to productive investments. This strategy is intended to be further developed through a number of legal initiatives across four strands of work&#58; (i) citizens and savings, aimed at increasing investment in capital markets by EU citizens&#59; (ii) investments and financing, aimed at providing more capital and financing options to EU businesses&#59; (iii) integration and scale, aimed at reducing fragmentation in EU capital markets&#59; and (iv) efficient supervision in the Single Market, aimed at creating a level playing field across the EU. Immediate developments are expected in the fields of financial education, the creation of investments and savings accounts, private pensions, promotion of investment in equity securities by institutional investors and other measures intended to enhance liquidity, securitization, improvement of market infrastructures, encouragement of cross border activities within the EU and harmonized and efficient supervision.</font></div><div style="margin-bottom:10pt;margin-top:10pt;text-align:justify;text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%;text-decoration:underline">Undertakings for Collective Investments</font></div><div style="margin-bottom:10pt;margin-top:10pt;text-align:justify;text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Directive (EU) 2024&#47;927, amending the Alternative Investment Fund Managers Directive (AIFMD) and Undertakings for Collective Investment in Transferable Securities (UCITS) Directive was approved in 2024 and must be transposed into national legislation before April 16, 2026. The main change introduced by the regulation relates to the delegation of functions and liquidity management. In this regard, the International Organization of Securities Commissions (IOSCO) and the European Securities and Markets Authority (ESMA) are expected to publish, respectively, recommendations, additional regulation and guidelines on liquidity management. In addition, there is certain regulatory and supervisory concern regarding the contribution to systemic risks and the use of leverage by non-banking financial intermediaries. </font></div><div style="height:42.52pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="margin-bottom:10pt;text-align:center"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:133%">41</font></div></div></div><div id="i4a27b892ded141958e799b2ba3298497_88"></div><hr style="page-break-after:always"><div style="min-height:42.52pt;width:100%"><div style="margin-bottom:6pt;margin-top:0.03pt;padding-left:0.56pt;text-align:justify"><font><br></font></div></div><div style="margin-bottom:10pt;margin-top:10pt;text-align:justify;text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Regulatory Update for Mexico</font></div><div style="margin-bottom:10pt;margin-top:10pt;text-align:justify;text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The below summary includes certain updates to the information included in &#8220;</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%">Item 4. Information on the Company&#8212;Business Overview&#8212;Supervision and Regulation&#8212;Principal Markets&#8212;Mexico</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8221; in our 2024 Form 20-F. </font></div><div style="margin-bottom:10pt;margin-top:10pt;text-align:justify;text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%;text-decoration:underline">Constitutional and Institutional Reform</font></div><div style="margin-bottom:10pt;margin-top:10pt;text-align:justify;text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">On September 15, 2024, a constitutional reform regarding the Judiciary System was published in Mexico&#8217;s Federal Official Gazette. The reform primarily establishes the popular election of federal judges, including the Supreme Court Justice (SCJN). Furthermore, it reduces the number of SCJN justices from 11 to 9. The reform took effect the day after its publication, with extraordinary elections scheduled for 2025.</font></div><div style="margin-bottom:10pt;margin-top:10pt;text-align:justify;text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Additionally, on December 20, 2024, a further constitutional reform was published in Mexico&#8217;s Federal Official Gazette to eliminate several Constitutionally Autonomous Bodies (OCAs), transferring their functions to other entities of the federal government. Among others, the National Institute of Transparency (INAI) will have its responsibilities redistributed to government agencies and the Federal Economic Competition Commission (COFECE) will be replaced by a decentralized body stemming from the Federal Executive, which will also be in charge of telecommunications&#8217; antitrust matters. Congress had 90 days to issue legislation to implement this amendment. However, regarding COFECE, the decree provides that it will take effect within 180 days of the issuance of the corresponding legislation, without setting a deadline for it. As of the date of this report, no such legislation had been issued.</font></div><div style="margin-bottom:10pt;margin-top:10pt;text-align:justify;text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">As a result of the aforementioned reform, on March 20, 2025, a decree was published in the Federal Official Gazette enacting new legislation on transparency and personal data protection. The new legal framework includes&#58; (i) the General Law on Transparency and Access to Public Information&#59; (ii) the General Law on Personal Data Protection Held by Obligated Subjects&#59; and (iii) the Federal Law on Personal Data Protection Held by Private Parties. These new laws reassign transparency-related responsibilities from INAI to various entities including the Secretariat of Anti-Corruption and Good Governance and the Federal Judiciary. They also mandate the establishment of the National Information Access System and the creation of specialized courts and tribunals to address these matters. The enactment of secondary regulation is still pending.</font></div><div style="margin-bottom:10pt;margin-top:10pt;text-align:justify;text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%;text-decoration:underline">COFECE Investigation into Card Payments Market</font></div><div style="margin-bottom:10pt;margin-top:10pt;text-align:justify;text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">In 2018, the Investigative Authority (IA) of the COFECE launched an investigation into the card payments market. In July 2023, the COFECE&#8217;s Board issued a final resolution recommending that regulators implement regulatory changes and mandating clearing houses to establish a compliance program and appoint an antitrust compliance officer. BBVA Mexico has taken all necessary actions and provided all required information to demonstrate compliance with the resolution.</font></div><div style="margin-bottom:10pt;margin-top:10pt;text-align:justify;text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Separately, in October 2022, COFECE announced that it had initiated an investigation in April 2022 into potential collusion in credit card transactions involving deferred monthly payments at zero interest. Although not under investigation, in July 2024, BBVA was requested to assist the authority by providing information related to the case. The request was fulfilled in December 2024. On December 18, 2024, COFECE concluded the investigation phase. In April 2025, the Investigative Authority of COFECE presented its findings to the Board of Commissioners. The content of such findings has not been disclosed. If COFECE were to issue a statement of objections and proceed to the trial-like stage, it would have to notify the involved parties before June 3, 2025. In such scenario, COFECE will publish a press release once the parties are notified. </font></div><div style="margin-bottom:10pt;margin-top:10pt;text-align:justify;text-indent:18pt"><font><br></font></div><div style="height:42.52pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="margin-bottom:10pt;text-align:center"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:133%">42</font></div></div></div><div id="i4a27b892ded141958e799b2ba3298497_94"></div><hr style="page-break-after:always"><div style="min-height:42.52pt;width:100%"><div style="margin-bottom:6pt;margin-top:0.03pt;padding-left:0.56pt;text-align:justify"><font><br></font></div></div><div style="margin-bottom:10pt;margin-top:10pt;text-align:justify;text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Regulatory Update for Turkey</font></div><div style="margin-bottom:10pt;margin-top:10pt;text-align:justify;text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The below summary includes certain updates to the information included in &#8220;</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%">Item 4. Information on the Company&#8212;Business Overview&#8212;Supervision and Regulation&#8212;Principal Markets&#8212;Turkey</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8221; in our 2024 Form 20-F. </font></div><div style="margin-bottom:10pt;margin-top:10pt;text-align:justify;text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%;text-decoration:underline">Regulation on Loans and Reserve and Maintenance of Securities Requirements</font></div><div style="margin-bottom:10pt;margin-top:10pt;text-align:justify;text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Since 2020, the Banking Regulation and Supervision Agency (&#8220;</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:120%">BRSA</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8221;) has issued recommendations to protect the value of the Turkish lira by ensuring that customers who are granted cash loans do not use the loan amounts for buying foreign currency or gold, and has introduced and regulated the Foreign Currency Protected Turkish Lira Deposit Account, an instrument designed to protect Turkish lira-denominated deposits from volatility in exchange rates. Several Communiqu&#233;s were issued since then, establishing maximum limits with respect to loan allocation and loan disbursement fees, revising applicable rates, and implementing policies to strengthen the monetary policy transmission mechanisms and to balance domestic demand. In order to enhance the effectiveness of loan growth limits, a reserve requirement based on loan growth was introduced in 2024. During 2024, the monthly growth limit was reduced from 2.5% to 2.0% for Turkish lira commercial loans and from 3.0% to 2.0% for general purpose loans.</font><font style="background-color:#ffffff;color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> On January 4, 2025, the growth limit was revised to 2.5% for SME loans and 1.5% for commercial loans. These measures were implemented in order to control the growth in Turkish lira denominated loans within a lower interest rate environment. </font></div><div style="margin-bottom:10pt;margin-top:10pt;text-align:justify;text-indent:18pt"><font style="background-color:#ffffff;color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">With respect to foreign currency denominated loans and with the aim of ensuring a level of loan growth consistent with the target decrease in inflation and the maintenance of the share of Turkish lira denominated loans, a monthly growth limit of 1.0% was introduced for such loans during 2024. As per the latest amendment on March 1, 2025, the monthly growth limit for foreign currency denominated loans has been reduced from 1.0% to 0.5%, and the scope of foreign currency denominated loans exempted from this growth limit has been narrowed.</font></div><div style="margin-bottom:10pt;margin-top:10pt;text-align:justify;text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%;text-decoration:underline">Other regulations</font></div><div style="margin-bottom:10pt;margin-top:10pt;text-align:justify;text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Additionally, on January 20, 2025, the CBRT discontinued the opening and renewal of foreign currency protected deposit and participation accounts, converted from foreign currency and gold, with maturities of six months and twelve months. This decision aligns with prior measures to phase out foreign currency-linked financial instruments.</font></div><div style="margin-bottom:10pt;margin-top:10pt;text-align:justify;text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">On July 20, 2024, the Communiqu&#233; on Amendments to the Communiqu&#233; on the Deposit and Participation Scheme for Non-Resident Turkish Citizens was adopted, setting forth certain regulation applicable to time deposit and participation accounts (&#8220;YUVAM&#8221;) that are the result of converting foreign currency deposit accounts and participation funds of certain non-resident persons that were denominated in foreign currency into Turkish lira deposits or accounts, and which provide additional returns according to the procedures determined by the CBRT. YUVAM accounts could be opened by converting foreign currency deposits or accounts through a document proving that the relevant funds were transferred from outside Turkey. Based on a further amendment of February 15, 2025, customers that are legal entities have been excluded from the purpose and scope of the aforementioned Communiqu&#233;. </font></div><div style="margin-bottom:10pt;margin-top:10pt;text-align:justify;text-indent:18pt"><font><br></font></div><div style="margin-bottom:10pt;margin-top:10pt;text-align:justify;text-indent:18pt"><font><br></font></div><div style="margin-bottom:10pt;margin-top:10pt;text-align:justify;text-indent:18pt"><font><br></font></div><div style="height:42.52pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="margin-bottom:10pt;text-align:center"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:133%">43</font></div></div></div><div id="i4a27b892ded141958e799b2ba3298497_97"></div><hr style="page-break-after:always"><div style="min-height:42.52pt;width:100%"><div style="margin-bottom:6pt;margin-top:0.03pt;padding-left:0.56pt;text-align:justify"><font><br></font></div></div><div style="margin-bottom:10pt;margin-top:10pt;text-align:justify"><font><br></font></div><div id="i4a27b892ded141958e799b2ba3298497_100"></div><div style="margin-bottom:150pt;margin-top:150pt"><font style="color:#2a86ca;font-family:'Arial',sans-serif;font-size:38pt;font-weight:700;line-height:120%">Unaudited Condensed Interim Consolidated Financial Statements as of and for the three months ended March 31, 2025</font></div><div style="height:42.52pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="margin-bottom:10pt;margin-top:10pt;text-align:justify"><font><br></font></div></div></div><hr style="page-break-after:always"><div style="min-height:42.52pt;width:100%"><div style="margin-bottom:6pt;margin-top:0.03pt;padding-left:0.56pt;text-align:justify"><font><br></font></div></div><div style="margin-bottom:10pt;margin-top:10pt"><font><br></font></div><div id="i4a27b892ded141958e799b2ba3298497_103"></div><div style="margin-bottom:10pt;padding-left:28.35pt;text-align:justify;text-indent:-28.35pt"><font style="color:#072146;font-family:'Arial',sans-serif;font-size:20pt;font-weight:700;line-height:133%">Contents</font></div><div style="margin-bottom:10pt;margin-top:10pt;text-align:justify"><font style="color:#072146;font-family:'Arial',sans-serif;font-size:11pt;font-weight:700;line-height:130%">UNAUDITED CONDENSED INTERIM CONSOLIDATED FINANCIAL STATEMENTS</font></div><div style="margin-bottom:14pt;margin-top:14pt;text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.893%"><tr><td style="width:1.0%"></td><td style="width:91.658%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:6.142%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:0.1pt"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%"><a href="#i4a27b892ded141958e799b2ba3298497_109" style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%;text-decoration:none">Condensed consolidated balance sheets</a></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:0.1pt;text-align:right"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">F-<a href="#i4a27b892ded141958e799b2ba3298497_109" style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%;text-decoration:none">3</a></font></div></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:0.1pt"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%"><a href="#i4a27b892ded141958e799b2ba3298497_112" style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%;text-decoration:none">Condensed consolidated income statements</a></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:0.1pt;text-align:right"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">F-<a href="#i4a27b892ded141958e799b2ba3298497_112" style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%;text-decoration:none">4</a></font></div></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:0.1pt"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%"><a href="#i4a27b892ded141958e799b2ba3298497_115" style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%;text-decoration:none">Condensed consolidated statements of recognized income and expense</a></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:0.1pt;text-align:right"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">F-<a href="#i4a27b892ded141958e799b2ba3298497_115" style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%;text-decoration:none">5</a></font></div></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:0.1pt"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%"><a href="#i4a27b892ded141958e799b2ba3298497_118" style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%;text-decoration:none">Condensed consolidated statements of changes in equity</a></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:0.1pt;text-align:right"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">F-<a href="#i4a27b892ded141958e799b2ba3298497_118" style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%;text-decoration:none">6</a></font></div></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:0.1pt"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%"><a href="#i4a27b892ded141958e799b2ba3298497_121" style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%;text-decoration:none">Condensed consolidated statements of cash flows</a></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:0.1pt;text-align:right"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">F-<a href="#i4a27b892ded141958e799b2ba3298497_121" style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%;text-decoration:none">8</a></font></div></td></tr></table></div><div style="margin-bottom:10pt;margin-top:10pt;text-align:justify"><font style="color:#072146;font-family:'Arial',sans-serif;font-size:11pt;font-weight:700;line-height:130%">NOTES TO THE UNAUDITED CONDENSED INTERIM CONSOLIDATED FINANCIAL STATEMENTS</font></div><div style="margin-bottom:14pt;margin-top:14pt;text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.893%"><tr><td style="width:1.0%"></td><td style="width:91.658%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:6.142%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><div style="margin-bottom:0.1pt"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%"><a href="#i4a27b892ded141958e799b2ba3298497_127" style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%;text-decoration:none">1. Introduction, basis for the presentation of the condensed interim consolidated financial statements and other information</a></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><div style="margin-bottom:0.1pt;text-align:right"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">F-<a href="#i4a27b892ded141958e799b2ba3298497_127" style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%;text-decoration:none">9</a></font></div></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><div style="margin-bottom:0.1pt"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%"><a href="#i4a27b892ded141958e799b2ba3298497_142" style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%;text-decoration:none">2. Principles of consolidation, accounting policies, measurement bases applied and recent IFRS pronouncements and interpretations</a></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><div style="margin-bottom:0.1pt;text-align:right"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">F-<a href="#i4a27b892ded141958e799b2ba3298497_142" style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%;text-decoration:none">10</a></font></div></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><div style="margin-bottom:0.1pt"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%"><a href="#i4a27b892ded141958e799b2ba3298497_157" style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%;text-decoration:none">3. BBVA Group </a></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><div style="margin-bottom:0.1pt;text-align:right"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">F-<a href="#i4a27b892ded141958e799b2ba3298497_157" style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%;text-decoration:none">11</a></font></div></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><div style="margin-bottom:0.1pt"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%"><a href="#i4a27b892ded141958e799b2ba3298497_160" style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%;text-decoration:none">4. Shareholder remuneration system </a></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><div style="margin-bottom:0.1pt;text-align:right"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">F-<a href="#i4a27b892ded141958e799b2ba3298497_160" style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%;text-decoration:none">13</a></font></div></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><div style="margin-bottom:0.1pt"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%"><a href="#i4a27b892ded141958e799b2ba3298497_163" style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%;text-decoration:none">5. Operating segment reporting</a></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><div style="margin-bottom:0.1pt;text-align:right"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">F-<a href="#i4a27b892ded141958e799b2ba3298497_163" style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%;text-decoration:none">13</a></font></div></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><div style="margin-bottom:0.1pt"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%"><a href="#i4a27b892ded141958e799b2ba3298497_166" style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%;text-decoration:none">6. Risk management</a></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><div style="margin-bottom:0.1pt;text-align:right"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">F-<a href="#i4a27b892ded141958e799b2ba3298497_166" style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%;text-decoration:none">14</a></font></div></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><div style="margin-bottom:0.1pt"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%"><a href="#i4a27b892ded141958e799b2ba3298497_184" style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%;text-decoration:none">7. Fair value of financial instruments</a></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><div style="margin-bottom:0.1pt;text-align:right"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">F-<a href="#i4a27b892ded141958e799b2ba3298497_184" style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%;text-decoration:none">19</a></font></div></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><div style="margin-bottom:0.1pt"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%"><a href="#i4a27b892ded141958e799b2ba3298497_187" style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%;text-decoration:none">8. Cash, cash balances at central banks and other demand deposits</a></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><div style="margin-bottom:0.1pt;text-align:right"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">F-<a href="#i4a27b892ded141958e799b2ba3298497_187" style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%;text-decoration:none">21</a></font></div></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><div style="margin-bottom:0.1pt"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%"><a href="#i4a27b892ded141958e799b2ba3298497_190" style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%;text-decoration:none">9. Financial assets and liabilities held for trading</a></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><div style="margin-bottom:0.1pt;text-align:right"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">F-<a href="#i4a27b892ded141958e799b2ba3298497_190" style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%;text-decoration:none">21</a></font></div></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><div style="margin-bottom:0.1pt"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%"><a href="#i4a27b892ded141958e799b2ba3298497_193" style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%;text-decoration:none">10. Non-trading financial assets mandatorily at fair value through profit or loss</a></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><div style="margin-bottom:0.1pt;text-align:right"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">F-<a href="#i4a27b892ded141958e799b2ba3298497_193" style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%;text-decoration:none">21</a></font></div></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><div style="margin-bottom:0.1pt"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%"><a href="#i4a27b892ded141958e799b2ba3298497_196" style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%;text-decoration:none">11. Financial assets and liabilities designated at fair value through profit or loss</a></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><div style="margin-bottom:0.1pt;text-align:right"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">F-<a href="#i4a27b892ded141958e799b2ba3298497_196" style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%;text-decoration:none">22</a></font></div></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><div style="margin-bottom:0.1pt"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%"><a href="#i4a27b892ded141958e799b2ba3298497_199" style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%;text-decoration:none">12. Financial assets at fair value through other comprehensive income</a></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><div style="margin-bottom:0.1pt;text-align:right"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">F-<a href="#i4a27b892ded141958e799b2ba3298497_199" style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%;text-decoration:none">22</a></font></div></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><div style="margin-bottom:0.1pt"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%"><a href="#i4a27b892ded141958e799b2ba3298497_205" style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%;text-decoration:none">13. Financial assets at amortized cost</a></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><div style="margin-bottom:0.1pt;text-align:right"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">F-<a href="#i4a27b892ded141958e799b2ba3298497_205" style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%;text-decoration:none">22</a></font></div></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><div style="margin-bottom:0.1pt"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%"><a href="#i4a27b892ded141958e799b2ba3298497_211" style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%;text-decoration:none">14. Investments in joint ventures and associates</a></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><div style="margin-bottom:0.1pt;text-align:right"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">F-<a href="#i4a27b892ded141958e799b2ba3298497_211" style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%;text-decoration:none">22</a></font></div></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><div style="margin-bottom:0.1pt"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%"><a href="#i4a27b892ded141958e799b2ba3298497_214" style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%;text-decoration:none">15. Tangible assets</a></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><div style="margin-bottom:0.1pt;text-align:right"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">F-<a href="#i4a27b892ded141958e799b2ba3298497_214" style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%;text-decoration:none">23</a></font></div></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><div style="margin-bottom:0.1pt"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%"><a href="#i4a27b892ded141958e799b2ba3298497_217" style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%;text-decoration:none">16. Intangible assets</a></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><div style="margin-bottom:0.1pt;text-align:right"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">F-<a href="#i4a27b892ded141958e799b2ba3298497_217" style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%;text-decoration:none">23</a></font></div></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><div style="margin-bottom:0.1pt"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%"><a href="#i4a27b892ded141958e799b2ba3298497_220" style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%;text-decoration:none">17. Tax assets and liabilities</a></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><div style="margin-bottom:0.1pt;text-align:right"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">F-<a href="#i4a27b892ded141958e799b2ba3298497_220" style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%;text-decoration:none">23</a></font></div></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><div><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%"><a href="#i4a27b892ded141958e799b2ba3298497_223" style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%;text-decoration:none">18. Other assets and liabilities</a></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><div style="margin-bottom:0.1pt;text-align:right"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">F-<a href="#i4a27b892ded141958e799b2ba3298497_223" style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%;text-decoration:none">24</a></font></div></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><div style="margin-top:0.1pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:130%"><a href="#i4a27b892ded141958e799b2ba3298497_226" style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:130%;text-decoration:none">19. Non-current assets and disposal groups classified as held for sale and liabilities included in disposal groups classified as held for sale</a></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><div style="margin-bottom:0.1pt;text-align:right"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">F-<a href="#i4a27b892ded141958e799b2ba3298497_226" style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%;text-decoration:none">24</a></font></div></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><div style="margin-bottom:0.1pt"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%"><a href="#i4a27b892ded141958e799b2ba3298497_229" style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%;text-decoration:none">20. Financial liabilities at amortized cost</a></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><div style="margin-bottom:0.1pt;text-align:right"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">F-<a href="#i4a27b892ded141958e799b2ba3298497_229" style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%;text-decoration:none">25</a></font></div></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><div style="margin-bottom:0.1pt"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%"><a href="#i4a27b892ded141958e799b2ba3298497_241" style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%;text-decoration:none">21. Assets and liabilities under insurance and reinsurance contracts</a></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><div style="margin-bottom:0.1pt;text-align:right"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">F-<a href="#i4a27b892ded141958e799b2ba3298497_241" style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%;text-decoration:none">26</a></font></div></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><div style="margin-bottom:0.1pt"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%"><a href="#i4a27b892ded141958e799b2ba3298497_244" style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%;text-decoration:none">22. Provisions</a></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><div style="margin-bottom:0.1pt;text-align:right"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">F-<a href="#i4a27b892ded141958e799b2ba3298497_244" style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%;text-decoration:none">26</a></font></div></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><div style="margin-bottom:0.1pt"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%"><a href="#i4a27b892ded141958e799b2ba3298497_247" style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%;text-decoration:none">23. Pension and other post-employment commitments</a></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><div style="margin-bottom:0.1pt;text-align:right"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">F-<a href="#i4a27b892ded141958e799b2ba3298497_247" style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%;text-decoration:none">26</a></font></div></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><div style="margin-bottom:0.1pt"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%"><a href="#i4a27b892ded141958e799b2ba3298497_250" style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%;text-decoration:none">24. Capital</a></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><div style="margin-bottom:0.1pt;text-align:right"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">F-<a href="#i4a27b892ded141958e799b2ba3298497_250" style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%;text-decoration:none">26</a></font></div></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><div style="margin-bottom:0.1pt"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%"><a href="#i4a27b892ded141958e799b2ba3298497_253" style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%;text-decoration:none">25. </a><a href="#i4a27b892ded141958e799b2ba3298497_253" style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%;text-decoration:none">Retained earnings and other reserves</a></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><div style="margin-bottom:0.1pt;text-align:right"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">F-<a href="#i4a27b892ded141958e799b2ba3298497_253" style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%;text-decoration:none">27</a></font></div></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><div style="margin-bottom:0.1pt"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%"><a href="#i4a27b892ded141958e799b2ba3298497_256" style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%;text-decoration:none">26. Accumulated other comprehensive income (loss)</a></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><div style="margin-bottom:0.1pt;text-align:right"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">F-<a href="#i4a27b892ded141958e799b2ba3298497_256" style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%;text-decoration:none">27</a></font></div></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><div style="margin-bottom:0.1pt"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%"><a href="#i4a27b892ded141958e799b2ba3298497_259" style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%;text-decoration:none">27. Minority interests (non-controlling interests)</a></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><div style="margin-bottom:0.1pt;text-align:right"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">F-<a href="#i4a27b892ded141958e799b2ba3298497_259" style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%;text-decoration:none">27</a></font></div></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><div style="margin-bottom:0.1pt"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%"><a href="#i4a27b892ded141958e799b2ba3298497_262" style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%;text-decoration:none">28. Commitments and guarantees given</a></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><div style="margin-bottom:0.1pt;text-align:right"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">F-<a href="#i4a27b892ded141958e799b2ba3298497_262" style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%;text-decoration:none">28</a></font></div></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><div style="margin-bottom:0.1pt"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%"><a href="#i4a27b892ded141958e799b2ba3298497_265" style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%;text-decoration:none">29. Net interest income</a></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><div style="margin-bottom:0.1pt;text-align:right"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">F-<a href="#i4a27b892ded141958e799b2ba3298497_265" style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%;text-decoration:none">28</a></font></div></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><div style="margin-bottom:0.1pt"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%"><a href="#i4a27b892ded141958e799b2ba3298497_274" style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%;text-decoration:none">30. Dividend income</a></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><div style="margin-bottom:0.1pt;text-align:right"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">F-<a href="#i4a27b892ded141958e799b2ba3298497_274" style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%;text-decoration:none">28</a></font></div></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><div style="margin-bottom:0.1pt"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%"><a href="#i4a27b892ded141958e799b2ba3298497_277" style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%;text-decoration:none">31. Fee and commission income and expense</a></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><div style="margin-bottom:0.1pt;text-align:right"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">F-<a href="#i4a27b892ded141958e799b2ba3298497_277" style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%;text-decoration:none">29</a></font></div></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><div style="margin-bottom:0.1pt"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%"><a href="#i4a27b892ded141958e799b2ba3298497_280" style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%;text-decoration:none">32. Gains (losses) on financial assets and liabilities, hedge accounting and exchange differences, net</a></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><div style="margin-bottom:0.1pt;text-align:right"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">F-<a href="#i4a27b892ded141958e799b2ba3298497_280" style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%;text-decoration:none">29</a></font></div></td></tr></table></div><div style="height:42.52pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="margin-bottom:10pt;margin-top:10pt;text-align:center"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:130%">F-1</font></div></div></div><hr style="page-break-after:always"><div style="min-height:42.52pt;width:100%"><div style="margin-bottom:6pt;margin-top:0.03pt;padding-left:0.56pt;text-align:justify"><font><br></font></div></div><div style="margin-bottom:10pt;margin-top:10pt;text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.893%"><tr><td style="width:1.0%"></td><td style="width:91.658%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:6.142%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><div style="margin-bottom:0.1pt"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%"><a href="#i4a27b892ded141958e799b2ba3298497_283" style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%;text-decoration:none">33. Other operating income and expense</a></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><div style="margin-bottom:0.1pt;text-align:right"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">F-<a href="#i4a27b892ded141958e799b2ba3298497_283" style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%;text-decoration:none">30</a></font></div></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><div style="margin-bottom:0.1pt"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%"><a href="#i4a27b892ded141958e799b2ba3298497_286" style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%;text-decoration:none">34. Income and expense from insurance and reinsurance contracts</a></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><div style="margin-bottom:0.1pt;text-align:right"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">F-<a href="#i4a27b892ded141958e799b2ba3298497_286" style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%;text-decoration:none">30</a></font></div></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><div style="margin-bottom:0.1pt"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%"><a href="#i4a27b892ded141958e799b2ba3298497_289" style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%;text-decoration:none">35. Administration costs</a></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><div style="margin-bottom:0.1pt;text-align:right"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">F-<a href="#i4a27b892ded141958e799b2ba3298497_289" style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%;text-decoration:none">30</a></font></div></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><div style="margin-bottom:0.1pt"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%"><a href="#i4a27b892ded141958e799b2ba3298497_298" style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%;text-decoration:none">36. Depreciation and amortization</a></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><div style="margin-bottom:0.1pt;text-align:right"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">F-<a href="#i4a27b892ded141958e799b2ba3298497_298" style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%;text-decoration:none">31</a></font></div></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><div style="margin-bottom:0.1pt"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%"><a href="#i4a27b892ded141958e799b2ba3298497_301" style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%;text-decoration:none">37. Provisions or reversal of provisions</a></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><div style="margin-bottom:0.1pt;text-align:right"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">F-<a href="#i4a27b892ded141958e799b2ba3298497_301" style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%;text-decoration:none">31</a></font></div></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><div style="margin-bottom:0.1pt"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%"><a href="#i4a27b892ded141958e799b2ba3298497_304" style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%;text-decoration:none">38. Impairment or reversal of impairment on financial assets not measured at fair value through profit or loss or net gains by modification</a></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><div style="margin-bottom:0.1pt;text-align:right"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">F-<a href="#i4a27b892ded141958e799b2ba3298497_304" style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%;text-decoration:none">31</a></font></div></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><div style="margin-bottom:0.1pt"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%"><a href="#i4a27b892ded141958e799b2ba3298497_307" style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%;text-decoration:none">39. Impairment or reversal of impairment of investments in joint ventures and associates</a></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><div style="margin-bottom:0.1pt;text-align:right"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">F-<a href="#i4a27b892ded141958e799b2ba3298497_307" style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%;text-decoration:none">31</a></font></div></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><div style="margin-bottom:0.1pt"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">40.<a href="#i4a27b892ded141958e799b2ba3298497_310" style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%;text-decoration:none"> Impairment or reversal of impairment on non-financial assets</a></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><div style="margin-bottom:0.1pt;text-align:right"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">F-<a href="#i4a27b892ded141958e799b2ba3298497_310" style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%;text-decoration:none">31</a></font></div></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><div style="margin-bottom:0.1pt"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%"><a href="#i4a27b892ded141958e799b2ba3298497_313" style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%;text-decoration:none">4</a>1<a href="#i4a27b892ded141958e799b2ba3298497_313" style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%;text-decoration:none">. Gains (losses) from non-current assets and disposal groups classified as held for sale not qualifying as discontinued operations</a></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><div style="margin-bottom:0.1pt;text-align:right"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">F-<a href="#i4a27b892ded141958e799b2ba3298497_313" style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%;text-decoration:none">32</a></font></div></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><div style="margin-bottom:0.1pt"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%"><a href="#i4a27b892ded141958e799b2ba3298497_316" style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%;text-decoration:none">4</a>2.<a href="#i4a27b892ded141958e799b2ba3298497_316" style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%;text-decoration:none"> Subsequent events</a></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><div style="margin-bottom:0.1pt;text-align:right"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">F-<a href="#i4a27b892ded141958e799b2ba3298497_316" style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%;text-decoration:none">32</a></font></div></td></tr></table></div><div style="margin-bottom:10pt;margin-top:10pt;text-align:justify"><font><br></font></div><div id="i4a27b892ded141958e799b2ba3298497_106"></div><div style="margin-bottom:10pt;margin-top:10pt;text-align:justify"><font><br></font></div><div style="height:42.52pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="margin-bottom:10pt;margin-top:10pt;text-align:center"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:130%">F-2</font></div></div></div><div id="i4a27b892ded141958e799b2ba3298497_109"></div><hr style="page-break-after:always"><div style="min-height:42.52pt;width:100%"><div style="margin-bottom:6pt;margin-top:0.03pt;padding-left:0.56pt;text-align:justify"><font><br></font></div></div><div style="margin-bottom:10pt;margin-top:10pt;text-align:justify"><img alt="logobbvaa.jpg" src="logobbvaa.jpg" style="height:29px;margin-bottom:5pt;vertical-align:text-bottom;width:99px"></div><div style="margin-bottom:10pt;text-align:justify"><font style="color:#072146;font-family:'Arial',sans-serif;font-size:11pt;font-weight:700;line-height:133%">Unaudited condensed consolidated balance sheets as of March 31, 2025 and December 31, 2024</font></div><div style="margin-bottom:10pt;margin-top:10pt;text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.893%"><tr><td style="width:1.0%"></td><td style="width:57.759%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.223%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:14.308%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:14.310%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="background-color:#E9E9E9;padding:2px 1pt 2px 1.49pt;text-align:left;text-indent:-0.49pt;vertical-align:middle"><font style="color:#02a5a5;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:120%">ASSETS (Millions of Euros)</font></td><td colspan="3" style="background-color:#E9E9E9;padding:0 1pt"></td><td colspan="3" style="background-color:#E9E9E9;padding:0 1pt"></td><td colspan="3" style="background-color:#E9E9E9;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #FFFFFF;padding:0 1.18pt 0 1pt;text-indent:-0.18pt"></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #FFFFFF;padding:2px 1pt;text-align:center;text-indent:-0.18pt;vertical-align:middle"><font style="color:#072146;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:120%">Notes</font></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #FFFFFF;padding:2px 1.18pt 2px 1pt;text-align:right;text-indent:-0.18pt;vertical-align:middle"><font style="color:#072146;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:120%">March <br>2025</font></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #FFFFFF;padding:2px 1.18pt 2px 1pt;text-align:right;text-indent:-0.18pt;vertical-align:middle"><font style="color:#072146;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:120%">December 2024</font></td></tr><tr><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">Cash, cash balances at central banks and other demand deposits</font></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">8</font></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">50,406</font></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">51,145</font></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">Financial assets held for trading</font></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">9</font></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">101,716</font></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">108,948</font></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">Non-trading financial assets mandatorily at fair value through profit or loss</font></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">10</font></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">10,570</font></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">10,546</font></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">Financial assets designated at fair value through profit or loss</font></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">11</font></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">929</font></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">836</font></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">Financial assets at fair value through other comprehensive income</font></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">12</font></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">59,718</font></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">59,002</font></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">Financial assets at amortized cost</font></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">13</font></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">512,434</font></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">502,400</font></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">Derivatives - hedge accounting</font></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">1,068</font></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">1,158</font></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">Fair value changes of the hedged items in portfolio hedges of interest rate risk</font></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">(67)</font></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">(65)</font></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">Joint ventures and associates</font></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">14</font></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">981</font></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">989</font></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">Insurance and reinsurance assets</font></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">21</font></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">184</font></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">191</font></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">Tangible assets</font></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">15</font></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">9,530</font></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">9,759</font></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">Intangible assets </font></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">16</font></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">2,492</font></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">2,490</font></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">Tax assets</font></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">17</font></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">16,897</font></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">18,650</font></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">Other assets </font></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">18</font></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">5,197</font></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">5,525</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">Non-current assets and disposal groups classified as held for sale </font></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">19</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">807</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">828</font></td></tr><tr><td colspan="3" style="background-color:#5AC4C4;border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#ffffff;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:120%">TOTAL ASSETS</font></td><td colspan="3" style="background-color:#5AC4C4;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="background-color:#5AC4C4;border-top:1pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#ffffff;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:120%">772,863</font></td><td colspan="3" style="background-color:#5AC4C4;border-top:1pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#ffffff;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:120%">772,402</font></td></tr></table><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.893%"><tr><td style="width:1.0%"></td><td style="width:57.913%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.223%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:14.308%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:14.156%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="background-color:#E9E9E9;padding:2px 1pt 2px 1.49pt;text-align:left;text-indent:-0.49pt;vertical-align:middle"><font style="color:#02a5a5;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:120%">LIABILITIES AND EQUITY (Millions of Euros)</font></td><td colspan="3" style="background-color:#E9E9E9;padding:0 1pt 0 1.49pt;text-indent:-0.49pt"></td><td colspan="3" style="background-color:#E9E9E9;padding:0 1pt 0 1.49pt;text-indent:-0.49pt"></td><td colspan="3" style="background-color:#E9E9E9;padding:0 1pt 0 1.49pt;text-indent:-0.49pt"></td></tr><tr><td colspan="3" style="border-top:1pt solid #FFFFFF;padding:0 1.18pt 0 1pt;text-indent:-0.18pt"></td><td colspan="3" style="border-top:1pt solid #FFFFFF;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#072146;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:120%">Notes</font></td><td colspan="3" style="border-top:1pt solid #FFFFFF;padding:2px 1pt;text-align:right;text-indent:-0.18pt;vertical-align:middle"><font style="color:#072146;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:120%">March <br>2025</font></td><td colspan="3" style="border-top:1pt solid #FFFFFF;padding:2px 1pt;text-align:right;text-indent:-0.18pt;vertical-align:middle"><font style="color:#072146;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:120%">December 2024</font></td></tr><tr><td colspan="3" style="border-top:1pt solid #000;padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">Financial liabilities held for trading </font></td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">9</font></td><td colspan="3" style="border-top:1pt solid #000;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">76,246</font></td><td colspan="3" style="border-top:1pt solid #000;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">86,591</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">Financial liabilities designated at fair value through profit or loss </font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">11</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">15,309</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">14,952</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">Financial liabilities at amortized cost </font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">20</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">594,752</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">584,339</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">Derivatives - hedge accounting</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">2,157</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">2,503</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">Liabilities under insurance and reinsurance contracts </font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">21</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">11,392</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">10,981</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">Provisions</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">22</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">4,370</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">4,619</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">Tax liabilities </font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">17</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">3,373</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">3,033</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">Other liabilities </font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">18</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">6,001</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">5,370</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">Liabilities included in disposal groups classified as held for sale</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">19</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">&#8212;</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">&#8212;</font></td></tr><tr><td colspan="3" style="background-color:#5AC4C4;border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#ffffff;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:120%">TOTAL LIABILITIES</font></td><td colspan="3" style="background-color:#5AC4C4;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="background-color:#5AC4C4;border-top:1pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#ffffff;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:120%">713,599</font></td><td colspan="3" style="background-color:#5AC4C4;border-top:1pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#ffffff;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:120%">712,388</font></td></tr></table><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.893%"><tr><td style="width:1.0%"></td><td style="width:57.913%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.223%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:14.308%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:14.156%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#004481;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:120%">SHAREHOLDERS&#8217; FUNDS</font></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#004481;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:120%">73,025</font></td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#004481;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:120%">72,875</font></td></tr><tr><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">Capital</font></td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">24</font></td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">2,824</font></td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">2,824</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">Share premium</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">19,184</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">19,184</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">Other equity</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">27</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">40</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">Retained earnings</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">25</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">46,582</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">40,693</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">Other reserves</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">25</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">1,845</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">1,814</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">Less&#58; Treasury shares</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">(135)</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">(66)</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">Profit or loss attributable to owners of the parent</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">2,698</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">10,054</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">Less&#58; Interim dividends</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">&#8212;</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">(1,668)</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#004481;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:120%">ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS)</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#004481;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:120%">26</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#004481;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:120%">(17,948)</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#004481;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:120%">(17,220)</font></td></tr><tr><td colspan="3" style="border-top:1pt solid #000;padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#004481;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:120%">MINORITY INTERESTS (NON-CONTROLLING INTERESTS)</font></td><td colspan="3" style="border-top:1pt solid #000;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#004481;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:120%">27</font></td><td colspan="3" style="border-top:1pt solid #000;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#004481;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:120%">4,187</font></td><td colspan="3" style="border-top:1pt solid #000;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#004481;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:120%">4,359</font></td></tr><tr><td colspan="3" style="background-color:#5AC4C4;border-top:1pt solid #000;padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#ffffff;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:120%">TOTAL EQUITY</font></td><td colspan="3" style="background-color:#5AC4C4;border-top:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="background-color:#5AC4C4;border-top:1pt solid #000;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#ffffff;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:120%">59,264</font></td><td colspan="3" style="background-color:#5AC4C4;border-top:1pt solid #000;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#ffffff;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:120%">60,014</font></td></tr><tr><td colspan="3" style="background-color:#5AC4C4;border-top:1pt solid #FFFFFF;padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#ffffff;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:120%">TOTAL EQUITY AND TOTAL LIABILITIES</font></td><td colspan="3" style="background-color:#5AC4C4;border-top:1pt solid #FFFFFF;padding:0 1pt"></td><td colspan="3" style="background-color:#5AC4C4;border-top:1pt solid #FFFFFF;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#ffffff;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:120%">772,863</font></td><td colspan="3" style="background-color:#5AC4C4;border-top:1pt solid #FFFFFF;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#ffffff;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:120%">772,402</font></td></tr><tr><td colspan="3" style="background-color:#E9E9E9;padding:2px 1pt 2px 1.49pt;text-align:left;text-indent:-0.49pt;vertical-align:middle"><font style="color:#02a5a5;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:120%">MEMORANDUM ITEM (OFF-BALANCE SHEET EXPOSURES) (Millions of Euros)</font></td><td colspan="3" style="background-color:#E9E9E9;padding:0 1pt"></td><td colspan="3" style="background-color:#E9E9E9;padding:0 1pt"></td><td colspan="3" style="background-color:#E9E9E9;padding:0 1pt"></td></tr><tr><td colspan="3" style="border-top:1pt solid #FFFFFF;padding:0 1pt 0 1.49pt;text-indent:-0.49pt"></td><td colspan="3" style="border-top:1pt solid #FFFFFF;padding:2px 1pt;text-align:center;text-indent:-0.18pt;vertical-align:middle"><font style="color:#072146;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:120%">Notes</font></td><td colspan="3" style="border-top:1pt solid #FFFFFF;padding:2px 1pt;text-align:right;text-indent:-0.18pt;vertical-align:middle"><font style="color:#072146;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:120%">March <br>2025</font></td><td colspan="3" style="border-top:1pt solid #FFFFFF;padding:2px 1pt;text-align:right;text-indent:-0.18pt;vertical-align:middle"><font style="color:#072146;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:120%">December 2024</font></td></tr><tr><td colspan="3" style="border-left:2pt solid #FFFFFF;border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">Loan commitments given</font></td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">28</font></td><td colspan="3" style="border-top:1pt solid #000;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">205,240</font></td><td colspan="3" style="border-top:1pt solid #000;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">188,515</font></td></tr><tr><td colspan="3" style="border-left:2pt solid #FFFFFF;padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">Financial guarantees given</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">28</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">23,151</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">22,503</font></td></tr><tr><td colspan="3" style="border-left:2pt solid #FFFFFF;padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">Other commitments given</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">28</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">59,422</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">51,215</font></td></tr></table></div><div style="margin-bottom:10pt;margin-top:10pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:130%">The Notes are an integral part of the unaudited condensed interim consolidated financial statements.</font></div><div style="height:42.52pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="margin-bottom:10pt;margin-top:10pt;text-align:center"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:130%">F-3</font></div></div></div><div id="i4a27b892ded141958e799b2ba3298497_112"></div><hr style="page-break-after:always"><div style="min-height:42.52pt;width:100%"><div style="margin-bottom:6pt;margin-top:0.03pt;padding-left:0.56pt;text-align:justify"><font><br></font></div></div><div style="margin-bottom:10pt;margin-top:10pt;text-align:justify"><img alt="logobbvaa.jpg" src="logobbvaa.jpg" style="height:29px;margin-bottom:5pt;vertical-align:text-bottom;width:99px"></div><div style="margin-bottom:10pt;margin-top:10pt;text-align:justify"><font style="color:#072146;font-family:'Arial',sans-serif;font-size:11pt;font-weight:700;line-height:130%">Unaudited condensed consolidated income statements for the three months ended March 31, 2025 and 2024</font></div><div style="margin-bottom:10pt;margin-top:10pt;text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.893%"><tr><td style="width:1.0%"></td><td style="width:57.913%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.223%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:14.308%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:14.156%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="background-color:#E9E9E9;padding:2px 1pt 2px 1.49pt;text-align:left;text-indent:-0.49pt;vertical-align:middle"><font style="color:#02a5a5;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:120%">CONDENSED CONSOLIDATED INCOME STATEMENTS (Millions of Euros)</font></td><td colspan="3" style="background-color:#E9E9E9;padding:0 1pt"></td><td colspan="3" style="background-color:#E9E9E9;padding:0 1.49pt 0 1pt;text-indent:-0.49pt"></td><td colspan="3" style="background-color:#E9E9E9;padding:0 1.49pt 0 1pt;text-indent:-0.49pt"></td></tr><tr><td colspan="3" style="border-top:1pt solid #FFFFFF;padding:0 1pt 0 1.18pt;text-indent:-0.18pt"></td><td colspan="3" style="border-top:1pt solid #FFFFFF;padding:2px 1pt;text-align:center;text-indent:-0.18pt;vertical-align:middle"><font style="color:#072146;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:120%">Notes</font></td><td colspan="3" style="border-top:1pt solid #FFFFFF;padding:2px 1.18pt 2px 1pt;text-align:right;text-indent:-0.18pt;vertical-align:middle"><font style="color:#072146;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:120%">March <br>2025</font></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #FFFFFF;padding:2px 1pt;text-align:left;vertical-align:middle"><div style="margin-bottom:0.04pt;margin-top:0.06pt;text-align:right;text-indent:-0.18pt"><font style="color:#072146;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:120%">March</font></div><div style="margin-bottom:0.04pt;margin-top:0.06pt;text-align:right;text-indent:-0.18pt"><font style="color:#072146;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:120%">2024</font></div></td></tr><tr><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">Interest and other income</font></td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">29.1</font></td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">14,720</font></td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">14,979</font></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 7pt;text-align:left;vertical-align:middle"><font style="color:#929292;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">Interest income using effective interest rate method</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#929292;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">13,305</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#929292;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">13,230</font></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 7pt;text-align:left;vertical-align:middle"><font style="color:#929292;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">Other interest income</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#929292;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">1,415</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#929292;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">1,750</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">Interest expense</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">29.2</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">(8,321)</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">(8,468)</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#004481;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:120%">NET INTEREST INCOME</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#004481;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:120%">6,398</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#004481;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:120%">6,512</font></td></tr><tr><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">Dividend income </font></td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">30</font></td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">9</font></td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">5</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">Share of profit or loss of entities accounted for using the equity method </font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">9</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">10</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">Fee and commission income </font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">31</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">3,297</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">2,926</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">Fee and commission expense</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">31</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">(1,237)</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">(1,040)</font></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">Gains (losses) on derecognition of financial assets and liabilities not measured at fair value through profit or loss, net</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">32</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">114</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">76</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">Gains (losses) on financial assets and liabilities held for trading, net</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">32</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">770</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">273</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">Gains (losses) on non-trading financial assets mandatorily at fair value through profit or loss, net</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">32</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">86</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">73</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">Gains (losses) on financial assets and liabilities designated at fair value through profit or loss, net</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">32</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">54</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">67</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">Gains (losses) from hedge accounting, net </font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">32</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">(5)</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">99</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">Exchange differences, net</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">32</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">(72)</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">183</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">Other operating income </font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">33</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">177</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">130</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">Other operating expense</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">33</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">(648)</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">(1,444)</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">Income from insurance and reinsurance contracts</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">34</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">1,294</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">1,093</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">Expense from insurance and reinsurance contracts</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">34</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">(923)</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">(745)</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#004481;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:120%">GROSS INCOME</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#004481;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:120%">9,324</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#004481;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:120%">8,218</font></td></tr><tr><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">Administration costs</font></td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">35</font></td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">(3,184)</font></td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">(3,007)</font></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">Depreciation and amortization</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">36</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">(378)</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">(375)</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">Provisions or reversal of provisions</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">37</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">(51)</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">(57)</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">Impairment or reversal of impairment on financial assets not measured at fair value through profit or loss or net gains by modification</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">38</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">(1,385)</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">(1,361)</font></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#004481;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:120%">NET OPERATING INCOME</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#004481;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:120%">4,326</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#004481;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:120%">3,418</font></td></tr><tr><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">Impairment or reversal of impairment of investments in joint ventures and associates</font></td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">39</font></td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">&#8212;</font></td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">41</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">Impairment or reversal of impairment on non-financial assets</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">40</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">(1)</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">(3)</font></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">Gains (losses) on derecognition of non-financial assets and subsidiaries, net</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">4</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">(2)</font></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">Gains (losses) from non-current assets and disposal groups classified as held for sale not qualifying as discontinued operations    </font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">41</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">19</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">4</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#004481;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:120%">PROFIT (LOSS) BEFORE TAX FROM CONTINUING OPERATIONS</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#004481;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:120%">4,348</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#004481;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:120%">3,458</font></td></tr><tr><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">Tax expense or income related to profit or loss from continuing operations</font></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">(1,466)</font></td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">(1,151)</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#004481;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:120%">PROFIT (LOSS) AFTER TAX FROM CONTINUING OPERATIONS</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#004481;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:120%">2,882</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#004481;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:120%">2,307</font></td></tr><tr><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">Profit (loss) after tax from discontinued operations</font></td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">19</font></td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">&#8212;</font></td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">&#8212;</font></td></tr><tr><td colspan="3" style="background-color:#5AC4C4;padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#ffffff;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:120%">PROFIT (LOSS)</font></td><td colspan="3" style="background-color:#5AC4C4;padding:0 1pt"></td><td colspan="3" style="background-color:#5AC4C4;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#ffffff;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:120%">2,882</font></td><td colspan="3" style="background-color:#5AC4C4;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#ffffff;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:120%">2,307</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#004481;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:120%">ATTRIBUTABLE TO MINORITY INTERESTS (NON-CONTROLLING INTERESTS)</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#004481;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:120%">27</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#004481;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:120%">184</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#004481;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:120%">107</font></td></tr><tr><td colspan="3" style="background-color:#5AC4C4;padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#ffffff;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:120%">ATTRIBUTABLE TO OWNERS OF THE PARENT</font></td><td colspan="3" style="background-color:#5AC4C4;padding:0 1pt"></td><td colspan="3" style="background-color:#5AC4C4;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#ffffff;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:120%">2,698</font></td><td colspan="3" style="background-color:#5AC4C4;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#ffffff;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:120%">2,200</font></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#072146;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:120%">March <br>2025</font></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><div style="text-align:right"><font style="color:#072146;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:120%">March</font></div><div style="text-align:right"><font style="color:#072146;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:120%">2024</font></div></td></tr><tr><td colspan="3" style="border-top:1pt solid #000;padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#004481;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:120%">EARNINGS (LOSSES) PER SHARE (Euros)</font></td><td colspan="3" style="border-top:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#004481;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:120%">0.45</font></td><td colspan="3" style="border-top:1pt solid #000;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#004481;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:120%">0.36</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">Basic earnings (losses) per share from continuing operations</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">0.45</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">0.36</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">Diluted earnings (losses) per share from continuing operations </font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">0.45</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">0.36</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">Basic earnings (losses) per share from discontinued operations </font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">&#8212;</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">&#8212;</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">Diluted earnings (losses) per share from discontinued operations</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">&#8212;</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">&#8212;</font></td></tr></table><font style="color:#000000;font-family:'Arial',sans-serif;font-size:6pt;font-weight:400;line-height:130%"> </font></div><div style="margin-bottom:6pt;margin-top:0.03pt;padding-left:0.56pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">The Notes are an integral part of the unaudited condensed interim consolidated financial statements.</font></div><div style="height:42.52pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="margin-bottom:10pt;margin-top:10pt;text-align:center"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:130%">F-4</font></div></div></div><div id="i4a27b892ded141958e799b2ba3298497_115"></div><hr style="page-break-after:always"><div style="min-height:42.52pt;width:100%"><div style="margin-bottom:6pt;margin-top:0.03pt;padding-left:0.56pt;text-align:justify"><font><br></font></div></div><div style="margin-bottom:10pt;margin-top:10pt;text-align:justify"><img alt="logobbvaa.jpg" src="logobbvaa.jpg" style="height:29px;margin-bottom:5pt;vertical-align:text-bottom;width:99px"></div><div style="margin-bottom:10pt;margin-top:10pt;text-align:justify"><font style="color:#072146;font-family:'Arial',sans-serif;font-size:11pt;font-weight:700;line-height:130%">Unaudited condensed consolidated statements of recognized income and expense for the three months ended March 31, 2025 and 2024</font></div><div style="margin-bottom:6pt;margin-top:10pt;text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.893%"><tr><td style="width:1.0%"></td><td style="width:68.083%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:14.308%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:14.309%"></td><td style="width:0.1%"></td></tr><tr><td colspan="6" style="background-color:#e9e9e9;padding:2px 1pt 2px 1.49pt;text-align:left;text-indent:-0.49pt;vertical-align:middle"><font style="color:#02a5a5;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:120%">CONDENSED CONSOLIDATED STATEMENTS OF RECOGNIZED INCOME AND EXPENSE (Millions of Euros)</font></td><td colspan="3" style="background-color:#e9e9e9;padding:0 1pt"></td></tr><tr><td colspan="3" style="border-top:0.25pt solid #ffffff;padding:0 1pt"></td><td colspan="3" style="border-top:0.25pt solid #ffffff;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#072146;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:120%">March <br>2025</font></td><td colspan="3" style="border-top:0.25pt solid #ffffff;padding:2px 1pt;text-align:left;vertical-align:middle"><div style="text-align:right"><font style="color:#072146;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:120%">March</font></div><div style="text-align:right"><font style="color:#072146;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:120%">2024</font></div></td></tr><tr><td colspan="3" style="border-top:1pt solid #000;padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#004481;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:120%">PROFIT (LOSS) RECOGNIZED IN INCOME STATEMENT</font></td><td colspan="3" style="border-top:1pt solid #000;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#004481;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:120%">2,882</font></td><td colspan="3" style="border-top:1pt solid #000;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#004481;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:120%">2,307</font></td></tr><tr><td colspan="3" style="border-top:1pt solid #000;padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#004481;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:120%">OTHER RECOGNIZED INCOME (EXPENSE)</font></td><td colspan="3" style="border-top:1pt solid #000;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#004481;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:120%">(869)</font></td><td colspan="3" style="border-top:1pt solid #000;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#004481;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:120%">1,598</font></td></tr><tr><td colspan="3" style="border-top:1pt solid #000;padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#004481;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:120%">ITEMS NOT SUBJECT TO RECLASSIFICATION TO INCOME STATEMENT</font></td><td colspan="3" style="border-top:1pt solid #000;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#004481;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:120%">113</font></td><td colspan="3" style="border-top:1pt solid #000;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#004481;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:120%">164</font></td></tr><tr><td colspan="3" style="border-top:1pt solid #000;padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">Actuarial gains (losses) from defined benefit pension plans</font></td><td colspan="3" style="border-top:1pt solid #000;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">6</font></td><td colspan="3" style="border-top:1pt solid #000;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">(54)</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">Non-current assets and disposal groups held for sale</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">&#8212;</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">&#8212;</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">Share of other recognized income and expense of entities accounted for using the equity method</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">&#8212;</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">&#8212;</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">Fair value changes of equity instruments measured at fair value through other comprehensive income, net</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">111</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">166</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">Gains (losses) from hedge accounting of equity instruments at fair value through other comprehensive income, net</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">&#8212;</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">&#8212;</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">Fair value changes of financial liabilities at fair value through profit or loss attributable to changes in their credit risk</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">(2)</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">54</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">Income tax related to items not subject to reclassification to income statement</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">(2)</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">(2)</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#004481;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:120%">ITEMS SUBJECT TO RECLASSIFICATION TO INCOME STATEMENT</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#004481;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:120%">(982)</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#004481;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:120%">1,434</font></td></tr><tr><td colspan="3" style="border-top:1pt solid #000;padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#004481;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:120%">Hedge of net investments in foreign operations (effective portion)</font></td><td colspan="3" style="border-top:1pt solid #000;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#004481;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:120%">(41)</font></td><td colspan="3" style="border-top:1pt solid #000;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#004481;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:120%">(407)</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">Valuation gains (losses) taken to equity</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">(41)</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">(407)</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">Transferred to profit or loss</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">&#8212;</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">&#8212;</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">Other reclassifications</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">&#8212;</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">&#8212;</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#004481;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:120%">Foreign currency translation</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#004481;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:120%">(920)</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#004481;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:120%">2,071</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">Translation gains (losses) taken to equity</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">(920)</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">2,071</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">Transferred to profit or loss</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">&#8212;</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">1</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">Other reclassifications</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">&#8212;</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">&#8212;</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#004481;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:120%">Cash flow hedges (effective portion)</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#004481;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:120%">(64)</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#004481;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:120%">(25)</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">Valuation gains (losses) taken to equity</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">(64)</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">(25)</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">Transferred to profit or loss</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">&#8212;</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">&#8212;</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">Transferred to initial carrying amount of hedged items</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">&#8212;</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">&#8212;</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">Other reclassifications</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">&#8212;</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">&#8212;</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#004481;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:120%">Hedging instruments (non-designated elements)</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#004481;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:120%">5</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#004481;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:120%">&#8212;</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">Valuation gains or losses taken to equity</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">5</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">&#8212;</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#004481;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:120%">Debt securities at fair value through other comprehensive income</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#004481;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:120%">68</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#004481;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:120%">(317)</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">Valuation gains (losses) taken to equity</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">143</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">(285)</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">Transferred to profit or loss</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">(75)</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">(32)</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">Other reclassifications</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">&#8212;</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">&#8212;</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#004481;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:120%">Non-current assets and disposal groups held for sale</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#004481;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:120%">&#8212;</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#004481;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:120%">&#8212;</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">Valuation gains (losses) taken to equity</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">&#8212;</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">&#8212;</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">Transferred to profit or loss</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">&#8212;</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">&#8212;</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">Other reclassifications</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">&#8212;</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">&#8212;</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#004481;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:120%">Entities accounted for using the equity method</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#004481;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:120%">(5)</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#004481;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:120%">7</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#004481;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:120%">Income tax relating to items subject to reclassification to income statements</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#004481;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:120%">(26)</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#004481;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:120%">105</font></td></tr><tr><td colspan="3" style="background-color:#5AC4C4;padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#ffffff;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:120%">TOTAL RECOGNIZED INCOME (EXPENSE)</font></td><td colspan="3" style="background-color:#5ac4c4;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#ffffff;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:120%">2,013</font></td><td colspan="3" style="background-color:#5ac4c4;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#ffffff;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:120%">3,905</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><div><font style="color:#004481;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:120%">Attributable to minority interests (non-controlling interests)</font></div></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#004481;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:120%">43</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#004481;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:120%">395</font></td></tr><tr><td colspan="3" style="background-color:#5AC4C4;padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#FFFFFF;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:120%">ATTRIBUTABLE TO THE PARENT COMPANY</font></td><td colspan="3" style="background-color:#5ac4c4;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#ffffff;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:120%">1,970</font></td><td colspan="3" style="background-color:#5ac4c4;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#ffffff;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:120%">3,510</font></td></tr></table><font style="color:#000000;font-family:'Arial',sans-serif;font-size:6pt;font-weight:400;line-height:130%"> </font></div><div style="margin-bottom:10pt;margin-top:10pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:130%">The Notes are an integral part of the unaudited condensed interim consolidated financial statements.</font></div><div style="height:42.52pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="margin-bottom:10pt;margin-top:10pt;text-align:center"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:130%">F-5</font></div></div></div><div id="i4a27b892ded141958e799b2ba3298497_118"></div><hr style="page-break-after:always"><div style="min-height:42.52pt;width:100%"><div style="margin-bottom:6pt;margin-top:0.03pt;padding-left:0.56pt;text-align:justify"><font><br></font></div></div><div style="margin-bottom:10pt;margin-top:10pt;text-align:justify"><img alt="logobbvaa.jpg" src="logobbvaa.jpg" style="height:29px;margin-bottom:5pt;vertical-align:text-bottom;width:99px"></div><div style="margin-bottom:7pt;margin-top:10pt"><font style="color:#072146;font-family:'Arial',sans-serif;font-size:11pt;font-weight:700;line-height:130%">Unaudited condensed consolidated statements of changes in equity for the three months ended March 31, 2025 and 2024</font></div><div style="margin-bottom:2pt;margin-top:2pt;text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.908%"><tr><td style="width:1.0%"></td><td style="width:16.895%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:4.216%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:3.910%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:5.443%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:3.705%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:5.137%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:5.137%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:4.728%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:3.910%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:5.750%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:4.932%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:6.773%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:5.852%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:4.114%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:2.998%"></td><td style="width:0.1%"></td></tr><tr><td colspan="45" style="background-color:#e9e9e9;border-left:1pt solid #ffffff;border-top:0.25pt solid #ffffff;padding:2px 1pt 2px 1.49pt;text-align:left;text-indent:-0.49pt;vertical-align:middle"><font style="color:#02a5a5;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:120%">CONDENSED CONSOLIDATED STATEMENTS OF CHANGES IN EQUITY (Millions of Euros)</font></td></tr><tr style="height:11pt"><td colspan="3" style="padding:0 1pt 0 1.18pt;text-indent:-0.18pt"></td><td colspan="3" rowspan="2" style="padding:2px 1pt;text-align:center;text-indent:-0.18pt;vertical-align:middle"><font style="color:#072146;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:120%">Capital </font><div><font style="color:#072146;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:120%">(Note 24)</font></div><div></div></td><td colspan="3" rowspan="2" style="padding:2px 1pt;text-align:center;text-indent:-0.18pt;vertical-align:middle"><font style="color:#072146;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:120%">Share Premium </font></td><td colspan="3" rowspan="2" style="padding:2px 1pt;text-align:center;text-indent:-0.18pt;vertical-align:middle"><font style="color:#072146;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:120%">Equity instruments issued other than capital</font></td><td colspan="3" rowspan="2" style="padding:2px 1pt;text-align:center;text-indent:-0.18pt;vertical-align:middle"><font style="color:#072146;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:120%">Other Equity</font></td><td colspan="3" rowspan="2" style="padding:2px 1pt;text-align:center;text-indent:-0.18pt;vertical-align:middle"><font style="color:#072146;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:120%">Retained earnings </font><div><font style="color:#072146;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:120%">(Note 25)</font></div></td><td colspan="3" rowspan="2" style="padding:2px 1pt;text-align:center;text-indent:-0.18pt;vertical-align:middle"><font style="color:#072146;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:120%">Revaluation reserves</font></td><td colspan="3" rowspan="2" style="padding:2px 1pt;text-align:center;text-indent:-0.18pt;vertical-align:middle"><font style="color:#072146;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:120%">Other reserves</font><div><font style="color:#072146;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:120%">(Note 25)</font></div></td><td colspan="3" rowspan="2" style="padding:2px 1pt;text-align:center;text-indent:-0.18pt;vertical-align:middle"><font style="color:#072146;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:120%">Treasury shares</font></td><td colspan="3" rowspan="2" style="padding:2px 1pt;text-align:center;text-indent:-0.18pt;vertical-align:middle"><font style="color:#072146;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:120%">Profit or loss attributable to owners of the parent</font><div></div></td><td colspan="3" rowspan="2" style="padding:2px 1pt;text-align:center;text-indent:-0.18pt;vertical-align:middle"><font style="color:#072146;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:120%">Interim dividend</font><div><font style="color:#072146;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:120%">&#160;(Note 4)</font></div><div></div></td><td colspan="3" rowspan="2" style="padding:2px 1pt;text-align:center;text-indent:-0.18pt;vertical-align:middle"><font style="color:#072146;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:120%">Accumulated other comprehensive income </font><div><font style="color:#072146;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:120%">(Note 26)</font></div></td><td colspan="6" style="padding:2px 1pt;text-align:center;text-indent:-0.18pt;vertical-align:middle"><font style="color:#072146;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:120%">Minority interests</font></td><td colspan="3" rowspan="2" style="padding:2px 1pt;text-align:center;text-indent:-0.18pt;vertical-align:middle"><font style="color:#072146;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:120%">Total</font></td></tr><tr style="height:45pt"><td colspan="3" style="padding:2px 1pt;text-align:center;text-indent:-0.18pt;vertical-align:middle"><font style="color:#072146;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:120%">March 2025</font></td><td colspan="3" style="border-top:1pt solid #000;padding:2px 1pt;text-align:center;text-indent:-0.18pt;vertical-align:middle"><font style="color:#072146;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:120%">Accumulated other comprehensive income</font><div><font style="color:#072146;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:120%">(Note 27)</font></div></td><td colspan="3" style="border-left:2pt solid #FFFFFF;border-top:1pt solid #000;padding:2px 1pt;text-align:center;text-indent:-0.18pt;vertical-align:middle"><font style="color:#072146;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:120%">Other</font><div><font style="color:#072146;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:120%">(Note 27)</font></div></td></tr><tr><td colspan="3" style="background-color:#5AC4C4;padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#ffffff;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:120%">Balances as of January 1, 2025 &#8317;&#185;&#8318;</font></td><td colspan="3" style="background-color:#5ac4c4;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#ffffff;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:120%">2,824</font></td><td colspan="3" style="background-color:#5ac4c4;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#ffffff;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:120%">19,184</font></td><td colspan="3" style="background-color:#5ac4c4;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#ffffff;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:120%">&#8212;</font></td><td colspan="3" style="background-color:#5ac4c4;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#ffffff;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:120%">40</font></td><td colspan="3" style="background-color:#5ac4c4;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#ffffff;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:120%">40,693</font></td><td colspan="3" style="background-color:#5ac4c4;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#ffffff;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:120%">&#8212;</font></td><td colspan="3" style="background-color:#5ac4c4;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#ffffff;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:120%">1,814</font></td><td colspan="3" style="background-color:#5ac4c4;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#ffffff;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:120%">(66)</font></td><td colspan="3" style="background-color:#5ac4c4;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#ffffff;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:120%">10,054</font></td><td colspan="3" style="background-color:#5ac4c4;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#ffffff;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:120%">(1,668)</font></td><td colspan="3" style="background-color:#5ac4c4;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#ffffff;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:120%">(17,220)</font></td><td colspan="3" style="background-color:#5ac4c4;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#ffffff;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:120%">(2,730)</font></td><td colspan="3" style="background-color:#5ac4c4;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#ffffff;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:120%">7,089</font></td><td colspan="3" style="background-color:#5ac4c4;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#ffffff;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:120%">60,014</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#004481;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:120%">Total income (expense) recognized</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#004481;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:120%">&#8212;</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#004481;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:120%">&#8212;</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#004481;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:120%">&#8212;</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#004481;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:120%">&#8212;</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#004481;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:120%">&#8212;</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#004481;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:120%">&#8212;</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#004481;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:120%">&#8212;</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#004481;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:120%">&#8212;</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#004481;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:120%">2,698</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#004481;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:120%">&#8212;</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#004481;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:120%">(728)</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#004481;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:120%">(141)</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#004481;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:120%">184</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#004481;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:120%">2,013</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#004481;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:120%">Other changes in equity</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#004481;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:120%">&#8212;</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#004481;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:120%">&#8212;</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#004481;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:120%">&#8212;</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#004481;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:120%">(12)</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#004481;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:120%">5,889</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#004481;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:120%">&#8212;</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#004481;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:120%">31</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#004481;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:120%">(69)</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#004481;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:120%">(10,054)</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#004481;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:120%">1,668</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#004481;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:120%">&#8212;</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#004481;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:120%">&#8212;</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#004481;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:120%">(215)</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#004481;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:120%">(2,763)</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">Issuances of ordinary shares</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">&#8212;</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">&#8212;</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">&#8212;</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">&#8212;</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">&#8212;</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">&#8212;</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">&#8212;</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">&#8212;</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">&#8212;</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">&#8212;</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">&#8212;</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">&#8212;</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">&#8212;</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">&#8212;</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">Issuances of preferred shares</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">&#8212;</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">&#8212;</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">&#8212;</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">&#8212;</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">&#8212;</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">&#8212;</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">&#8212;</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">&#8212;</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">&#8212;</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">&#8212;</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">&#8212;</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">&#8212;</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">&#8212;</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">&#8212;</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">Issuance of other equity instruments</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">&#8212;</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">&#8212;</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">&#8212;</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">&#8212;</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">&#8212;</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">&#8212;</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">&#8212;</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">&#8212;</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">&#8212;</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">&#8212;</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">&#8212;</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">&#8212;</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">&#8212;</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">&#8212;</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">Settlement or maturity of other equity instruments issued </font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">&#8212;</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">&#8212;</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">&#8212;</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">&#8212;</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">&#8212;</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">&#8212;</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">&#8212;</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">&#8212;</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">&#8212;</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">&#8212;</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">&#8212;</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">&#8212;</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">&#8212;</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">&#8212;</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">Conversion of debt on equity</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">&#8212;</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">&#8212;</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">&#8212;</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">&#8212;</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">&#8212;</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">&#8212;</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">&#8212;</font></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">&#8212;</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">&#8212;</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">&#8212;</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">&#8212;</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">&#8212;</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">&#8212;</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">&#8212;</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">Capital reduction</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">&#8212;</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">&#8212;</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">&#8212;</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">&#8212;</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">&#8212;</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">&#8212;</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">&#8212;</font></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">&#8212;</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">&#8212;</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">&#8212;</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">&#8212;</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">&#8212;</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">&#8212;</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">&#8212;</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">Dividend distribution (shareholder remuneration)</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">&#8212;</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">&#8212;</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">&#8212;</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">&#8212;</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">(2,360)</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">&#8212;</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">&#8212;</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">&#8212;</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">&#8212;</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">&#8212;</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">&#8212;</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">&#8212;</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">(215)</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">(2,575)</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">Purchase of treasury shares</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">&#8212;</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">&#8212;</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">&#8212;</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">&#8212;</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">&#8212;</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">&#8212;</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">&#8212;</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">(335)</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">&#8212;</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">&#8212;</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">&#8212;</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">&#8212;</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">&#8212;</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">(335)</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">Sale or cancellation of treasury shares</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">&#8212;</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">&#8212;</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">&#8212;</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">&#8212;</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">&#8212;</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">&#8212;</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">3</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">266</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">&#8212;</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">&#8212;</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">&#8212;</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">&#8212;</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">&#8212;</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">269</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">Reclassification of other equity instruments to financial liabilities</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">&#8212;</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">&#8212;</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">&#8212;</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">&#8212;</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">&#8212;</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">&#8212;</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">&#8212;</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">&#8212;</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">&#8212;</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">&#8212;</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">&#8212;</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">&#8212;</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">&#8212;</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">&#8212;</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">Reclassification of financial liabilities to other equity instruments</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">&#8212;</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">&#8212;</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">&#8212;</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">&#8212;</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">&#8212;</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">&#8212;</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">&#8212;</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">&#8212;</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">&#8212;</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">&#8212;</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">&#8212;</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">&#8212;</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">&#8212;</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">&#8212;</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">Transfers among components of equity</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">&#8212;</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">&#8212;</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">&#8212;</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">9</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">8,348</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">&#8212;</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">28</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">&#8212;</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">(10,054)</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">1,668</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">&#8212;</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">&#8212;</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">&#8212;</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">&#8212;</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">Increase&#47;Reduction of equity due to business combinations</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">&#8212;</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">&#8212;</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">&#8212;</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">&#8212;</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">&#8212;</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">&#8212;</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">&#8212;</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">&#8212;</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">&#8212;</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">&#8212;</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">&#8212;</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">&#8212;</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">&#8212;</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">&#8212;</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">Share based payments</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">&#8212;</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">&#8212;</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">&#8212;</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">(26)</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">&#8212;</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">&#8212;</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">&#8212;</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">&#8212;</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">&#8212;</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">&#8212;</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">&#8212;</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">&#8212;</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">&#8212;</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">(26)</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">Other increases or (-) decreases in equity</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">&#8212;</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">&#8212;</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">&#8212;</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">5</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">(100)</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">&#8212;</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">&#8212;</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">&#8212;</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">&#8212;</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">&#8212;</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">&#8212;</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">&#8212;</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">&#8212;</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">(95)</font></td></tr><tr><td colspan="3" style="background-color:#5AC4C4;padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#ffffff;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:120%">Balances as of March 31, 2025</font></td><td colspan="3" style="background-color:#5ac4c4;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#ffffff;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:120%">2,824</font></td><td colspan="3" style="background-color:#5ac4c4;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#ffffff;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:120%">19,184</font></td><td colspan="3" style="background-color:#5ac4c4;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#ffffff;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:120%">&#8212;</font></td><td colspan="3" style="background-color:#5ac4c4;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#ffffff;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:120%">27</font></td><td colspan="3" style="background-color:#5ac4c4;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#ffffff;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:120%">46,582</font></td><td colspan="3" style="background-color:#5ac4c4;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#ffffff;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:120%">&#8212;</font></td><td colspan="3" style="background-color:#5ac4c4;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#ffffff;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:120%">1,845</font></td><td colspan="3" style="background-color:#5ac4c4;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#ffffff;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:120%">(135)</font></td><td colspan="3" style="background-color:#5ac4c4;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#ffffff;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:120%">2,698</font></td><td colspan="3" style="background-color:#5ac4c4;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#ffffff;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:120%">&#8212;</font></td><td colspan="3" style="background-color:#5ac4c4;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#ffffff;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:120%">(17,948)</font></td><td colspan="3" style="background-color:#5ac4c4;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#ffffff;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:120%">(2,871)</font></td><td colspan="3" style="background-color:#5ac4c4;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#ffffff;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:120%">7,058</font></td><td colspan="3" style="background-color:#5ac4c4;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#ffffff;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:120%">59,264</font></td></tr></table><font style="color:#000000;font-family:'Arial',sans-serif;font-size:6pt;font-weight:400;line-height:130%">(1) Balances as of December 31, 2024, as originally reported in the consolidated financial statements for the year 2024.</font></div><div style="margin-bottom:10pt;margin-top:10pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:130%">The Notes are an integral part of the unaudited condensed interim consolidated financial statements.</font></div><div style="height:42.52pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="margin-bottom:10pt;margin-top:10pt;text-align:center"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:130%">F-6</font></div></div></div><hr style="page-break-after:always"><div style="min-height:42.52pt;width:100%"><div style="margin-bottom:6pt;margin-top:0.03pt;padding-left:0.56pt;text-align:justify"><font><br></font></div></div><div style="margin-bottom:5pt;margin-top:2pt;text-align:justify"><img alt="logobbvaa.jpg" src="logobbvaa.jpg" style="height:29px;margin-bottom:5pt;vertical-align:text-bottom;width:99px"></div><div style="margin-bottom:10pt;margin-top:10pt;text-align:justify"><font style="color:#072146;font-family:'Arial',sans-serif;font-size:11pt;font-weight:700;line-height:130%">Unaudited condensed consolidated statements of changes in equity for the three months ended March 31, 2025 and 2024</font></div><div style="margin-bottom:2pt;margin-top:2pt;text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.908%"><tr><td style="width:1.0%"></td><td style="width:16.589%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:4.216%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:3.910%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:5.546%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:2.683%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:4.625%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:5.239%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:4.625%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:3.910%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:5.955%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:4.319%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:7.284%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:7.079%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:4.114%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:3.406%"></td><td style="width:0.1%"></td></tr><tr><td colspan="45" style="background-color:#e9e9e9;padding:2px 1pt 2px 1.49pt;text-align:left;text-indent:-0.49pt;vertical-align:middle"><font style="color:#02a5a5;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:120%">CONDENSED CONSOLIDATED STATEMENTS OF CHANGES IN EQUITY (Millions of Euros)</font></td></tr><tr style="height:11pt"><td colspan="3" style="padding:0 1pt;text-indent:-0.18pt"></td><td colspan="3" rowspan="2" style="padding:2px 1pt;text-align:center;text-indent:-0.18pt;vertical-align:middle"><font style="color:#072146;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:120%">Capital </font><div><font style="color:#072146;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:120%">(Note 24)</font></div><div></div></td><td colspan="3" rowspan="2" style="padding:2px 1pt;text-align:center;text-indent:-0.18pt;vertical-align:middle"><font style="color:#072146;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:120%">Share Premium </font></td><td colspan="3" rowspan="2" style="padding:2px 1pt;text-align:center;text-indent:-0.18pt;vertical-align:middle"><font style="color:#072146;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:120%">Equity instruments issued other than capital</font></td><td colspan="3" rowspan="2" style="padding:2px 1pt;text-align:center;text-indent:-0.18pt;vertical-align:middle"><font style="color:#072146;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:120%">Other Equity</font></td><td colspan="3" rowspan="2" style="padding:2px 1pt;text-align:center;text-indent:-0.18pt;vertical-align:middle"><font style="color:#072146;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:120%">Retained earnings </font><div><font style="color:#072146;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:120%">(Note 25)</font></div></td><td colspan="3" rowspan="2" style="padding:2px 1pt;text-align:center;text-indent:-0.18pt;vertical-align:middle"><font style="color:#072146;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:120%">Revaluation reserves</font></td><td colspan="3" rowspan="2" style="padding:2px 1pt;text-align:center;text-indent:-0.18pt;vertical-align:middle"><font style="color:#072146;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:120%">Other reserves</font><div><font style="color:#072146;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:120%">(Note 25)</font></div></td><td colspan="3" rowspan="2" style="padding:2px 1pt;text-align:center;text-indent:-0.18pt;vertical-align:middle"><font style="color:#072146;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:120%">Treasury shares</font></td><td colspan="3" rowspan="2" style="padding:2px 1pt;text-align:center;text-indent:-0.18pt;vertical-align:middle"><font style="color:#072146;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:120%">Profit or loss attributable to owners of the parent</font><div></div></td><td colspan="3" rowspan="2" style="padding:2px 1pt;text-align:center;text-indent:-0.18pt;vertical-align:middle"><font style="color:#072146;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:120%">Interim dividend</font><div><font style="color:#072146;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:120%">&#160;(Note 4)</font></div><div></div></td><td colspan="3" rowspan="2" style="padding:2px 1pt;text-align:center;text-indent:-0.18pt;vertical-align:middle"><font style="color:#072146;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:120%">Accumulated other comprehensive income </font><div><font style="color:#072146;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:120%">(Note 26)</font></div></td><td colspan="6" style="padding:2px 1pt;text-align:center;text-indent:-0.18pt;vertical-align:middle"><font style="color:#072146;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:120%">Minority interests</font></td><td colspan="3" rowspan="2" style="padding:2px 1pt;text-align:center;text-indent:-0.18pt;vertical-align:middle"><font style="color:#072146;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:120%">Total</font></td></tr><tr style="height:45pt"><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><div style="margin-bottom:0.04pt;margin-top:0.06pt;text-align:center;text-indent:-0.18pt"><font style="color:#072146;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:120%">March 2024</font></div></td><td colspan="3" style="border-top:1pt solid #000;padding:2px 1pt;text-align:center;text-indent:-0.18pt;vertical-align:middle"><font style="color:#072146;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:120%">Accumulated other comprehensive income</font><div><font style="color:#072146;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:120%">(Note 27)</font></div></td><td colspan="3" style="border-left:1pt solid #ffffff;border-top:1pt solid #000;padding:2px 1pt;text-align:center;text-indent:-0.18pt;vertical-align:middle"><font style="color:#072146;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:120%">Other</font><div><font style="color:#072146;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:120%">(Note 27)</font></div></td></tr><tr><td colspan="3" style="background-color:#5ac4c4;padding:2px 1pt;text-align:left;vertical-align:middle"><div><font style="color:#ffffff;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:120%">Balances as of January 1, 2024 &#8317;</font><font style="color:#ffffff;font-family:'Arial',sans-serif;font-size:4.55pt;font-weight:700;line-height:120%;position:relative;top:-2.44pt;vertical-align:baseline">1</font><font style="color:#ffffff;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:120%">&#8318;</font></div></td><td colspan="3" style="background-color:#5ac4c4;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#ffffff;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:120%">2,861</font></td><td colspan="3" style="background-color:#5ac4c4;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#ffffff;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:120%">19,769</font></td><td colspan="3" style="background-color:#5ac4c4;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#ffffff;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:120%">&#8212;</font></td><td colspan="3" style="background-color:#5ac4c4;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#ffffff;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:120%">40</font></td><td colspan="3" style="background-color:#5ac4c4;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#ffffff;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:120%">36,237</font></td><td colspan="3" style="background-color:#5ac4c4;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#ffffff;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:120%">&#8212;</font></td><td colspan="3" style="background-color:#5ac4c4;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#ffffff;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:120%">2,015</font></td><td colspan="3" style="background-color:#5ac4c4;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#ffffff;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:120%">(34)</font></td><td colspan="3" style="background-color:#5ac4c4;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#ffffff;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:120%">8,019</font></td><td colspan="3" style="background-color:#5ac4c4;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#ffffff;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:120%">(951)</font></td><td colspan="3" style="background-color:#5ac4c4;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#ffffff;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:120%">(16,254)</font></td><td colspan="3" style="background-color:#5ac4c4;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#ffffff;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:120%">(3,321)</font></td><td colspan="3" style="background-color:#5ac4c4;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#ffffff;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:120%">6,885</font></td><td colspan="3" style="background-color:#5ac4c4;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#ffffff;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:120%">55,265</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#004481;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:120%">Total income (expense) recognized</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#004481;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:120%">&#8212;</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#004481;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:120%">&#8212;</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#004481;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:120%">&#8212;</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#004481;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:120%">&#8212;</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#004481;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:120%">&#8212;</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#004481;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:120%">&#8212;</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#004481;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:120%">&#8212;</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#004481;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:120%">&#8212;</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#004481;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:120%">2,200</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#004481;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:120%">&#8212;</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#004481;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:120%">1,310</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#004481;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:120%">288</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#004481;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:120%">107</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#004481;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:120%">3,905</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#004481;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:120%">Other changes in equity</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#004481;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:120%">&#8212;</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#004481;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:120%">&#8212;</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#004481;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:120%">&#8212;</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#004481;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:120%">(10)</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#004481;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:120%">4,736</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#004481;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:120%">&#8212;</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#004481;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:120%">(191)</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#004481;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:120%">(675)</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#004481;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:120%">(8,019)</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#004481;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:120%">951</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#004481;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:120%">&#8212;</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#004481;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:120%">1</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#004481;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:120%">(185)</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#004481;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:120%">(3,392)</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">Issuances of ordinary shares</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">&#8212;</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">&#8212;</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">&#8212;</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">&#8212;</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">&#8212;</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">&#8212;</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">&#8212;</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">&#8212;</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">&#8212;</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">&#8212;</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">&#8212;</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">&#8212;</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">&#8212;</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">&#8212;</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">Issuances of preferred shares</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">&#8212;</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">&#8212;</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">&#8212;</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">&#8212;</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">&#8212;</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">&#8212;</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">&#8212;</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">&#8212;</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">&#8212;</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">&#8212;</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">&#8212;</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">&#8212;</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">&#8212;</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">&#8212;</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">Issuance of other equity instruments</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">&#8212;</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">&#8212;</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">&#8212;</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">&#8212;</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">&#8212;</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">&#8212;</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">&#8212;</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">&#8212;</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">&#8212;</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">&#8212;</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">&#8212;</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">&#8212;</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">&#8212;</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">&#8212;</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">Settlement or maturity of other equity instruments issued </font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">&#8212;</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">&#8212;</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">&#8212;</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">&#8212;</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">&#8212;</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">&#8212;</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">&#8212;</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">&#8212;</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">&#8212;</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">&#8212;</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">&#8212;</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">&#8212;</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">&#8212;</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">&#8212;</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">Conversion of debt on equity</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">&#8212;</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">&#8212;</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">&#8212;</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">&#8212;</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">&#8212;</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">&#8212;</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">&#8212;</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">&#8212;</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">&#8212;</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">&#8212;</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">&#8212;</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">&#8212;</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">&#8212;</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">&#8212;</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">Capital reduction</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">&#8212;</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">&#8212;</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">&#8212;</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">&#8212;</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">&#8212;</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">&#8212;</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">&#8212;</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">&#8212;</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">&#8212;</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">&#8212;</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">&#8212;</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">&#8212;</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">&#8212;</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">&#8212;</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">Dividend distribution (shareholder remuneration)</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">&#8212;</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">&#8212;</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">&#8212;</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">&#8212;</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">(2,246)</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">&#8212;</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">&#8212;</font></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">&#8212;</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">&#8212;</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">&#8212;</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">&#8212;</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">&#8212;</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">(186)</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">(2,432)</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">Purchase of treasury shares</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">&#8212;</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">&#8212;</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">&#8212;</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">&#8212;</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">&#8212;</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">&#8212;</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">&#8212;</font></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">(952)</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">&#8212;</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">&#8212;</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">&#8212;</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">&#8212;</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">&#8212;</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">(952)</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">Sale or cancellation of treasury shares</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">&#8212;</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">&#8212;</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">&#8212;</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">&#8212;</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">&#8212;</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">&#8212;</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">1</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">278</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">&#8212;</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">&#8212;</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">&#8212;</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">&#8212;</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">&#8212;</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">278</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">Reclassification of other equity instruments to financial liabilities</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">&#8212;</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">&#8212;</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">&#8212;</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">&#8212;</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">&#8212;</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">&#8212;</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">&#8212;</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">&#8212;</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">&#8212;</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">&#8212;</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">&#8212;</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">&#8212;</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">&#8212;</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">&#8212;</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">Reclassification of financial liabilities to other equity instruments</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">&#8212;</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">&#8212;</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">&#8212;</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">&#8212;</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">&#8212;</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">&#8212;</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">&#8212;</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">&#8212;</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">&#8212;</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">&#8212;</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">&#8212;</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">&#8212;</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">&#8212;</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">&#8212;</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><div style="margin-bottom:0.05pt;margin-top:0.05pt"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">Transfers among components of equity</font></div></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">&#8212;</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">&#8212;</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">&#8212;</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">7</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">7,069</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">&#8212;</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">(8)</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">&#8212;</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">(8,019)</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">951</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">&#8212;</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">1</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">(1)</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">&#8212;</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">Increase&#47;Reduction of equity due to business combinations</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">&#8212;</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">&#8212;</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">&#8212;</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">&#8212;</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">&#8212;</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">&#8212;</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">&#8212;</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">&#8212;</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">&#8212;</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">&#8212;</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">&#8212;</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">&#8212;</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">&#8212;</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">&#8212;</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">Share based payments</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">&#8212;</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">&#8212;</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">&#8212;</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">(21)</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">&#8212;</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">&#8212;</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">&#8212;</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">&#8212;</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">&#8212;</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">&#8212;</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">&#8212;</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">&#8212;</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">&#8212;</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">(21)</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><div style="margin-bottom:0.05pt;margin-top:0.05pt"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">Other increases or (-) decreases in equity</font></div></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">&#8212;</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">&#8212;</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">&#8212;</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">4</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">(87)</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">&#8212;</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">(183)</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">&#8212;</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">&#8212;</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">&#8212;</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">&#8212;</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">&#8212;</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">1</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">(265)</font></td></tr><tr><td colspan="3" style="background-color:#5ac4c4;padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#ffffff;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:120%">Balances as of March 31, 2024</font></td><td colspan="3" style="background-color:#5ac4c4;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#ffffff;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:120%">2,861</font></td><td colspan="3" style="background-color:#5ac4c4;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#ffffff;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:120%">19,769</font></td><td colspan="3" style="background-color:#5ac4c4;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#ffffff;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:120%">&#8212;</font></td><td colspan="3" style="background-color:#5ac4c4;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#ffffff;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:120%">31</font></td><td colspan="3" style="background-color:#5ac4c4;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#ffffff;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:120%">40,973</font></td><td colspan="3" style="background-color:#5ac4c4;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#ffffff;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:120%">&#8212;</font></td><td colspan="3" style="background-color:#5ac4c4;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#ffffff;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:120%">1,824</font></td><td colspan="3" style="background-color:#5ac4c4;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#ffffff;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:120%">(709)</font></td><td colspan="3" style="background-color:#5ac4c4;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#ffffff;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:120%">2,200</font></td><td colspan="3" style="background-color:#5ac4c4;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#ffffff;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:120%">&#8212;</font></td><td colspan="3" style="background-color:#5ac4c4;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#ffffff;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:120%">(14,944)</font></td><td colspan="3" style="background-color:#5ac4c4;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#ffffff;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:120%">(3,032)</font></td><td colspan="3" style="background-color:#5ac4c4;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#ffffff;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:120%">6,806</font></td><td colspan="3" style="background-color:#5ac4c4;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#ffffff;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:120%">55,778</font></td></tr></table></div><div style="margin-bottom:2pt;margin-top:2pt;padding-left:0.56pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:6pt;font-weight:400;line-height:120%">(1) Balances as of December 31, 2023, as originally reported in the consolidated financial statements for the year 2023.</font></div><div style="margin-bottom:10pt;margin-top:10pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:130%">The Notes are an integral part of the unaudited condensed interim consolidated financial statements.</font></div><div style="height:42.52pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="margin-bottom:10pt;margin-top:10pt;text-align:center"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:130%">F-7</font></div></div></div><div id="i4a27b892ded141958e799b2ba3298497_121"></div><hr style="page-break-after:always"><div style="min-height:42.52pt;width:100%"><div style="margin-bottom:6pt;margin-top:0.03pt;padding-left:0.56pt;text-align:justify"><font><br></font></div></div><div style="margin-bottom:10pt;margin-top:10pt;text-align:justify"><img alt="logobbvaa.jpg" src="logobbvaa.jpg" style="height:29px;margin-bottom:5pt;vertical-align:text-bottom;width:99px"></div><div style="margin-bottom:10pt;margin-top:10pt;text-align:justify"><font style="color:#072146;font-family:'Arial',sans-serif;font-size:11pt;font-weight:700;line-height:130%">Unaudited condensed consolidated statements of cash flows for the three months ended March 31, 2025 and 2024</font></div><div style="margin-bottom:6pt;margin-top:10pt;text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.893%"><tr><td style="width:1.0%"></td><td style="width:68.083%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:14.308%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:14.309%"></td><td style="width:0.1%"></td></tr><tr><td colspan="9" style="background-color:#E9E9E9;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#02A5A5;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:120%">CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Millions of Euros)</font></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1.18pt 2px 1pt;text-align:right;text-indent:-0.18pt;vertical-align:middle"><font style="color:#072146;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:120%">March <br>2025</font></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:middle"><div style="margin-bottom:0.1pt;text-align:right"><font style="color:#072146;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:120%">March</font></div><div style="margin-bottom:0.1pt;text-align:right"><font style="color:#072146;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:120%">2024</font></div></td></tr><tr><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#004580;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:120%">CASH FLOWS FROM OPERATING ACTIVITIES (1)</font></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#004580;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:120%">157</font></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#004580;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:120%">(193)</font></td></tr><tr><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#929292;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">Of which hyperinflation effect from operating activities</font></td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#929292;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">609</font></td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#929292;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">1,050</font></td></tr><tr><td colspan="3" style="border-left:1pt solid #FFFFFF;padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#004481;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:120%">Profit for the period</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#004481;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:120%">2,882</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#004481;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:120%">2,307</font></td></tr><tr><td colspan="3" style="border-left:1pt solid #FFFFFF;border-top:1pt solid #FFFFFF;padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#004481;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:120%">Adjustments to obtain the cash flow from operating activities</font></td><td colspan="3" style="border-top:1pt solid #FFFFFF;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#004481;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:120%">3,717</font></td><td colspan="3" style="border-top:1pt solid #FFFFFF;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#004481;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:120%">3,922</font></td></tr><tr><td colspan="3" style="border-left:1pt solid #FFFFFF;border-top:1pt solid #FFFFFF;padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">Depreciation and amortization</font></td><td colspan="3" style="border-top:1pt solid #FFFFFF;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">378</font></td><td colspan="3" style="border-top:1pt solid #FFFFFF;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">375</font></td></tr><tr><td colspan="3" style="border-left:1pt solid #FFFFFF;border-top:1pt solid #FFFFFF;padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">Other adjustments</font></td><td colspan="3" style="border-top:1pt solid #FFFFFF;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">3,339</font></td><td colspan="3" style="border-top:1pt solid #FFFFFF;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">3,547</font></td></tr><tr><td colspan="3" style="border-left:1pt solid #FFFFFF;border-top:1pt solid #FFFFFF;padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#004481;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:120%">Net increase&#47;decrease in operating assets&#47;liabilities</font></td><td colspan="3" style="border-top:1pt solid #FFFFFF;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#004481;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:120%">(7,012)</font></td><td colspan="3" style="border-top:1pt solid #FFFFFF;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#004481;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:120%">(6,143)</font></td></tr><tr><td colspan="3" style="border-left:1pt solid #FFFFFF;border-top:1pt solid #FFFFFF;padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">Financial assets&#47;liabilities held for trading</font></td><td colspan="3" style="border-top:1pt solid #FFFFFF;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">(3,262)</font></td><td colspan="3" style="border-top:1pt solid #FFFFFF;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">(6,097)</font></td></tr><tr><td colspan="3" style="border-left:1pt solid #FFFFFF;border-top:1pt solid #FFFFFF;padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">Non-trading financial assets mandatorily at fair value through profit or loss</font></td><td colspan="3" style="border-top:1pt solid #FFFFFF;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">(248)</font></td><td colspan="3" style="border-top:1pt solid #FFFFFF;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">(340)</font></td></tr><tr><td colspan="3" style="border-left:1pt solid #FFFFFF;border-top:1pt solid #FFFFFF;padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">Other financial assets&#47;liabilities designated at fair value through profit or loss</font></td><td colspan="3" style="border-top:1pt solid #FFFFFF;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">537</font></td><td colspan="3" style="border-top:1pt solid #FFFFFF;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">1,031</font></td></tr><tr><td colspan="3" style="border-left:1pt solid #FFFFFF;border-top:1pt solid #FFFFFF;padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">Financial assets at fair value through other comprehensive income</font></td><td colspan="3" style="border-top:1pt solid #FFFFFF;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">(1,069)</font></td><td colspan="3" style="border-top:1pt solid #FFFFFF;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">(364)</font></td></tr><tr><td colspan="3" style="border-left:1pt solid #FFFFFF;border-top:1pt solid #FFFFFF;padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">Financial assets&#47;liabilities at amortized cost</font></td><td colspan="3" style="border-top:1pt solid #FFFFFF;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">(3,449)</font></td><td colspan="3" style="border-top:1pt solid #FFFFFF;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">2,188</font></td></tr><tr><td colspan="3" style="border-left:1pt solid #FFFFFF;border-top:1pt solid #FFFFFF;padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">Other operating assets&#47;liabilities</font></td><td colspan="3" style="border-top:1pt solid #FFFFFF;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">480</font></td><td colspan="3" style="border-top:1pt solid #FFFFFF;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">(2,560)</font></td></tr><tr><td colspan="3" style="border-left:1pt solid #FFFFFF;border-top:1pt solid #FFFFFF;padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#004481;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:120%">Collection&#47;Payments for income tax</font></td><td colspan="3" style="border-top:1pt solid #FFFFFF;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#004481;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:120%">570</font></td><td colspan="3" style="border-top:1pt solid #FFFFFF;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#004481;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:120%">(279)</font></td></tr><tr><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#004580;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:120%">CASH FLOWS FROM INVESTING ACTIVITIES (2)</font></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#004580;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:120%">(274)</font></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#004580;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:120%">(374)</font></td></tr><tr><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#929292;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">Of which hyperinflation effect from investing activities</font></td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#929292;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">138</font></td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#929292;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">381</font></td></tr><tr><td colspan="3" style="border-left:1pt solid #FFFFFF;padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">Tangible assets</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">(131)</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">(281)</font></td></tr><tr><td colspan="3" style="border-left:1pt solid #FFFFFF;border-top:1pt solid #FFFFFF;padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">Intangible assets</font></td><td colspan="3" style="border-top:1pt solid #FFFFFF;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">(177)</font></td><td colspan="3" style="border-top:1pt solid #FFFFFF;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">(126)</font></td></tr><tr><td colspan="3" style="border-left:1pt solid #FFFFFF;border-top:1pt solid #FFFFFF;padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">Investments in joint ventures and associates</font></td><td colspan="3" style="border-top:1pt solid #FFFFFF;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">12</font></td><td colspan="3" style="border-top:1pt solid #FFFFFF;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">6</font></td></tr><tr><td colspan="3" style="border-left:1pt solid #FFFFFF;border-top:1pt solid #FFFFFF;padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">Subsidiaries and other business units</font></td><td colspan="3" style="border-top:1pt solid #FFFFFF;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">&#8212;</font></td><td colspan="3" style="border-top:1pt solid #FFFFFF;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">&#8212;</font></td></tr><tr><td colspan="3" style="border-left:1pt solid #FFFFFF;border-top:1pt solid #FFFFFF;padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">Non-current assets&#47;liabilities held for sale</font></td><td colspan="3" style="border-top:1pt solid #FFFFFF;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">22</font></td><td colspan="3" style="border-top:1pt solid #FFFFFF;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">28</font></td></tr><tr><td colspan="3" style="border-left:1pt solid #FFFFFF;border-top:1pt solid #FFFFFF;padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">Other settlements&#47;collections related to investing activities</font></td><td colspan="3" style="border-top:1pt solid #FFFFFF;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">&#8212;</font></td><td colspan="3" style="border-top:1pt solid #FFFFFF;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">&#8212;</font></td></tr><tr><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#004580;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:120%">CASH FLOWS FROM FINANCING ACTIVITIES (3)</font></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#004580;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:120%">491</font></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#004580;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:120%">1,139</font></td></tr><tr><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#929292;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">Of which hyperinflation effect from financing activities</font></td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#929292;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">&#8212;</font></td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#929292;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">&#8212;</font></td></tr><tr><td colspan="3" style="border-left:1pt solid #FFFFFF;padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">Dividends</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">&#8212;</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">&#8212;</font></td></tr><tr><td colspan="3" style="border-left:1pt solid #FFFFFF;border-top:1pt solid #FFFFFF;padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">Subordinated liabilities</font></td><td colspan="3" style="border-left:1pt solid #FFFFFF;border-top:1pt solid #FFFFFF;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">771</font></td><td colspan="3" style="border-top:1pt solid #FFFFFF;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">1,965</font></td></tr><tr><td colspan="3" style="border-left:1pt solid #FFFFFF;border-top:1pt solid #FFFFFF;padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">Treasury share amortization&#47;increase</font></td><td colspan="3" style="border-left:1pt solid #FFFFFF;border-top:1pt solid #FFFFFF;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">&#8212;</font></td><td colspan="3" style="border-top:1pt solid #FFFFFF;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">&#8212;</font></td></tr><tr><td colspan="3" style="border-left:1pt solid #FFFFFF;border-top:1pt solid #FFFFFF;padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">Treasury share acquisition&#47;disposal</font></td><td colspan="3" style="border-left:1pt solid #FFFFFF;border-top:1pt solid #FFFFFF;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">(103)</font></td><td colspan="3" style="border-top:1pt solid #FFFFFF;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">(705)</font></td></tr><tr><td colspan="3" style="border-left:1pt solid #FFFFFF;border-top:1pt solid #FFFFFF;padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">Other items relating to financing activities</font></td><td colspan="3" style="border-left:1pt solid #FFFFFF;border-top:1pt solid #FFFFFF;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">(177)</font></td><td colspan="3" style="border-top:1pt solid #FFFFFF;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">(120)</font></td></tr><tr><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#004580;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:120%">EFFECT OF EXCHANGE RATE CHANGES (4)</font></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#004580;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:120%">(1,114)</font></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#004580;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:120%">535</font></td></tr><tr><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#004580;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:120%">NET INCREASE&#47;DECREASE IN CASH AND CASH EQUIVALENTS (1+2+3+4)</font></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#004580;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:120%">(739)</font></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#004580;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:120%">1,108</font></td></tr><tr><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#004580;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:120%">CASH AND CASH EQUIVALENTS AT BEGINNING OF THE PERIOD</font></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#004580;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:120%">51,145</font></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#004580;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:120%">75,416</font></td></tr><tr><td colspan="3" style="background-color:#5AC4C4;border-top:1pt solid #000;padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#ffffff;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:120%">CASH AND CASH EQUIVALENTS AT END OF THE PERIOD</font></td><td colspan="3" style="background-color:#5AC4C4;border-top:1pt solid #000;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#ffffff;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:120%">50,406</font></td><td colspan="3" style="background-color:#5AC4C4;border-top:1pt solid #000;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#ffffff;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:120%">76,524</font></td></tr></table></div><div style="margin-bottom:2pt;margin-top:2pt;padding-left:0.56pt;text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.893%"><tr><td style="width:1.0%"></td><td style="width:16.311%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:16.311%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:22.936%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.223%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:14.308%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:14.311%"></td><td style="width:0.1%"></td></tr><tr><td colspan="18" style="background-color:#E9E9E9;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#02A5A5;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:120%">COMPONENTS OF CASH AND EQUIVALENT AT END OF THE PERIOD (Millions of Euros) </font></td></tr><tr><td colspan="9" style="background-color:#ffffff;border-bottom:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#072146;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:120%">Notes</font></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#072146;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:120%">March <br>2025</font></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:middle"><div style="margin-bottom:0.1pt;text-align:right"><font style="color:#072146;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:120%">March</font></div><div style="margin-bottom:0.1pt;text-align:right"><font style="color:#072146;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:120%">2024</font></div></td></tr><tr><td colspan="9" style="border-bottom:1pt solid #FFFFFF;border-left:1pt solid #FFFFFF;border-top:1pt solid #000;padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">Cash on hand</font></td><td colspan="3" style="border-left:1pt solid #FFFFFF;border-top:1pt solid #000;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">8</font></td><td colspan="3" style="border-top:1pt solid #000;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">7,445</font></td><td colspan="3" style="border-top:1pt solid #000;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">8,010</font></td></tr><tr><td colspan="9" style="border-bottom:1pt solid #FFFFFF;border-left:1pt solid #FFFFFF;border-top:1pt solid #FFFFFF;padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">Cash balances at central banks</font></td><td colspan="3" style="border-left:1pt solid #FFFFFF;border-top:1pt solid #FFFFFF;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">8</font></td><td colspan="3" style="border-top:1pt solid #FFFFFF;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">35,165</font></td><td colspan="3" style="border-top:1pt solid #FFFFFF;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">60,334</font></td></tr><tr><td colspan="9" style="border-bottom:1pt solid #FFFFFF;border-left:1pt solid #FFFFFF;border-top:1pt solid #FFFFFF;padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">Other demand deposits</font></td><td colspan="3" style="border-left:1pt solid #FFFFFF;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">8</font></td><td colspan="3" style="border-top:1pt solid #FFFFFF;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">7,795</font></td><td colspan="3" style="border-top:1pt solid #FFFFFF;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">8,180</font></td></tr><tr><td colspan="9" style="border-left:1pt solid #FFFFFF;border-top:1pt solid #FFFFFF;padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">Less&#58; Bank overdraft refundable on demand</font></td><td colspan="3" style="border-left:1pt solid #FFFFFF;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #FFFFFF;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">&#8212;</font></td><td colspan="3" style="border-top:1pt solid #FFFFFF;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">&#8212;</font></td></tr><tr><td colspan="9" style="background-color:#5AC4C4;padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#ffffff;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:120%">TOTAL CASH AND CASH EQUIVALENTS AT END OF THE PERIOD</font></td><td colspan="3" style="background-color:#5AC4C4;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#ffffff;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:120%">8</font></td><td colspan="3" style="background-color:#5AC4C4;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#FFFFFF;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:120%">50,406</font></td><td colspan="3" style="background-color:#5AC4C4;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#FFFFFF;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:120%">76,524</font></td></tr></table></div><div style="margin-bottom:10pt;margin-top:10pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:130%">The Notes are an integral part of the unaudited condensed interim consolidated financial statements.</font></div><div style="height:42.52pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="margin-bottom:10pt;margin-top:10pt;text-align:center"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:130%">F-8</font></div></div></div><div id="i4a27b892ded141958e799b2ba3298497_124"></div><hr style="page-break-after:always"><div style="min-height:42.52pt;width:100%"><div style="margin-bottom:6pt;margin-top:0.03pt;padding-left:0.56pt;text-align:justify"><font><br></font></div></div><div style="margin-bottom:10pt;margin-top:10pt;text-align:justify"><img alt="logobbvaa.jpg" src="logobbvaa.jpg" style="height:29px;margin-bottom:5pt;vertical-align:text-bottom;width:99px"></div><div style="margin-bottom:10pt;margin-top:10pt;text-align:justify"><font style="color:#072146;font-family:'Arial',sans-serif;font-size:11pt;font-weight:700;line-height:130%">Notes to the condensed interim consolidated financial statements as of and for the three months ended March 31, 2025</font></div><div id="i4a27b892ded141958e799b2ba3298497_127"></div><div style="margin-bottom:10pt;margin-top:10pt;text-align:justify"><font style="color:#072146;font-family:'Arial',sans-serif;font-size:11pt;font-weight:700;line-height:130%">1.</font><font style="color:#072146;font-family:'Arial',sans-serif;font-size:11pt;font-weight:700;line-height:130%;padding-left:26.84pt">Introduction, basis for the presentation of the condensed interim consolidated financial statements and other information</font></div><div id="i4a27b892ded141958e799b2ba3298497_130"></div><div style="margin-bottom:10pt;margin-top:10pt;text-align:justify"><font style="color:#004580;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:130%">1.1.</font><font style="color:#004580;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:130%;padding-left:19.34pt">Introduction</font></div><div style="margin-bottom:10pt;margin-top:10pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:130%">Banco Bilbao Vizcaya Argentaria, S.A. (hereinafter &#8220;the Bank&#8221;, &#8220;BBVA&#34; or &#34;BBVA, S.A.&#34;) is a private-law entity subject to the laws and regulations governing banking entities operating in Spain. It carries out its activity through branches and agencies across the country and abroad.</font></div><div style="margin-bottom:10pt;margin-top:10pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:130%">The Bylaws and other public information are available for inspection at the Bank&#8217;s registered address (Plaza San Nicol&#225;s, 4, Bilbao) as noted on its web site (www.bbva.com).</font></div><div style="margin-bottom:10pt;margin-top:10pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:130%">In addition to the activities it carries out directly, the Bank heads a group of subsidiaries, joint ventures and associates which perform a wide range of activities and which together with the Bank constitute the Banco Bilbao Vizcaya Argentaria Group (hereinafter &#8220;the Group&#8221; or &#8220;the BBVA Group&#8221;). In addition to its own separate financial statements, the Bank is required to prepare consolidated financial statements comprising all consolidated subsidiaries of the Group.</font></div><div style="margin-bottom:10pt;margin-top:10pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:130%">The consolidated financial statements of the BBVA Group for the year ended December 31, 2024 were authorized for issue on February 21, 2025.</font></div><div id="i4a27b892ded141958e799b2ba3298497_133"></div><div style="margin-bottom:10pt;margin-top:10pt;text-align:justify"><font style="color:#004580;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:130%">1.2.</font><font style="color:#004580;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:130%;padding-left:19.34pt">Basis for the presentation of the condensed interim consolidated financial statements</font></div><div style="margin-bottom:10pt;margin-top:10pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:130%">The BBVA Group&#8217;s condensed interim consolidated financial statements (hereinafter the &#8220;Consolidated Financial Statements&#8221;) as of and for the three-month period ended March 31, 2025 are presented in accordance with the International Accounting Standard 34 &#8220;Interim Financial Reporting&#8221; (hereinafter &#8220;IAS 34&#8221;), as adopted by the European Union (EU-IFRS), and with IFRS-IASB (International Financial Reporting Standards as issued by the International Accounting Standards Board) and have been approved by the Board of Directors at its meeting held on April 28, 2025. In accordance with IAS 34, the interim financial information is prepared solely for the purpose of updating the last annual consolidated financial statements, focusing on new activities, events and circumstances that occurred during the period without duplicating the information previously published in those consolidated financial statements. </font></div><div style="margin-bottom:10pt;margin-top:10pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:130%">Therefore, the Consolidated Financial Statements do not include all information required by a complete set of consolidated financial statements prepared in accordance with International Financial Reporting Standards endorsed by the European Union (&#8220;EU-IFRS&#8221;). Consequently, for an appropriate understanding of the information included in them, they should be read together with the consolidated financial statements of the Group as of and for the year ended December 31, 2024.</font></div><div style="margin-bottom:10pt;margin-top:10pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:130%">The aforementioned annual consolidated financial statements are presented in compliance with IFRS-IASB (International Financial Reporting Standards as issued by the International Accounting Standards Board), as well as in accordance with the EU-IFRS applicable as of December 31, 2024, considering the Bank of Spain Circular 4&#47;2017, as well as its successive amendments, and with any other legislation governing financial reporting which is applicable and with the format and mark-up requirements established in the EU Delegated Regulation 2019&#47;815 of the European Commission.</font></div><div style="margin-bottom:10pt;margin-top:10pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:130%">The Consolidated Financial Statements were prepared applying principles of consolidation, accounting policies and valuation criteria, which, as described in Note 2, are the same as those applied in the consolidated financial statements of the Group as of and for the year ended December 31, 2024, except for the new Standards and Interpretations that became effective from January 1, 2025 (see Note 2.1), so that they present fairly the Group&#8217;s consolidated equity and financial position as of March 31, 2025, together with the consolidated results of its operations and the consolidated cash flows generated by the Group during the three months ended March 31, 2025. </font></div><div style="margin-bottom:10pt;margin-top:10pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:130%">The Consolidated Financial Statements and Notes were prepared on the basis of the accounting records kept by the Bank and each of the other entities in the Group. They include the adjustments and reclassifications required to harmonize the accounting policies and valuation criteria used by the entities in the Group.</font></div><div style="margin-bottom:10pt;margin-top:10pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:130%">All effective accounting standards and valuation criteria with a significant effect on the Consolidated Financial Statements were applied in their preparation.</font></div><div style="margin-bottom:10pt;margin-top:10pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:130%">The amounts reflected in the Consolidated Financial Statements are presented in millions of euros, unless it is more appropriate to use smaller units. Therefore, some items that appear without a balance in these Consolidated Financial Statements are due to how the units are expressed. Also, in presenting amounts in millions of euros, the accounting balances have been rounded up or down. It is therefore possible that the totals appearing in some tables are not the exact arithmetical sum of their component figures. </font></div><div style="margin-bottom:10pt;margin-top:10pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:130%">The percentage changes in amounts have been calculated using figures expressed in thousands of euros.</font></div><div style="margin-bottom:10pt;margin-top:10pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:130%">When determining the information to disclose about various items of the Consolidated Financial Statements, the Group, in accordance with IAS 34, has taken into account their materiality in relation to the Consolidated Financial Statements.</font></div><div style="height:42.52pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="margin-bottom:10pt;margin-top:10pt;text-align:center"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:130%">F-9</font></div></div></div><div id="i4a27b892ded141958e799b2ba3298497_136"></div><hr style="page-break-after:always"><div style="min-height:42.52pt;width:100%"><div style="margin-bottom:6pt;margin-top:0.03pt;padding-left:0.56pt;text-align:justify"><font><br></font></div></div><div style="margin-bottom:10pt;margin-top:10pt;text-align:justify"><font style="color:#004580;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:130%">1.3.&#160;&#160;&#160;&#160;Responsibility for the information and for the estimates made</font></div><div style="margin-bottom:10pt;margin-top:10pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:130%">The information contained in the BBVA Group&#8217;s Consolidated Financial Statements is the responsibility of the Group&#8217;s Directors.</font></div><div style="margin-bottom:10pt;margin-top:10pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:130%">Estimates were required to be made at times when preparing these Consolidated Financial Statements in order to calculate the recorded or disclosed amount of some assets, liabilities, income, expense and commitments. These estimates relate mainly to the following&#58;</font></div><div style="margin-bottom:10pt;margin-top:10pt;padding-left:36pt;text-align:justify;text-indent:-18pt"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:130%">&#8211;</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:130%;padding-left:13.56pt">Loss allowances on certain financial assets (see Notes 6, 12, 13 and 14).</font></div><div style="margin-bottom:10pt;margin-top:10pt;padding-left:36pt;text-align:justify;text-indent:-18pt"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:130%">&#8211;</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:130%;padding-left:13.56pt">The assumptions used in the valuation of insurance and reinsurance contracts (see Note 21), to quantify certain provisions (see Note 22), and for the actuarial calculation of post-employment benefit liabilities and other commitments (see Note 23).</font></div><div style="margin-bottom:10pt;margin-top:10pt;padding-left:36pt;text-align:justify;text-indent:-18pt"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:130%">&#8211;</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:130%;padding-left:13.56pt">The useful life and impairment losses of tangible and intangible assets and impairment losses of non-current assets held for sale (see Notes 15, 16 and 19).</font></div><div style="margin-bottom:10pt;margin-top:10pt;padding-left:36pt;text-align:justify;text-indent:-18pt"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:130%">&#8211;</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:130%;padding-left:13.56pt">The valuation of goodwill and price allocation of business combinations (see Note 16).</font></div><div style="margin-bottom:10pt;margin-top:10pt;padding-left:36pt;text-align:justify;text-indent:-18pt"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:130%">&#8211;</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:130%;padding-left:13.56pt">The fair value of certain unlisted financial assets and liabilities (see Notes 6, 7, 9, 10, 11 and 12).</font></div><div style="margin-bottom:10pt;margin-top:10pt;padding-left:36pt;text-align:justify;text-indent:-18pt"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:130%">&#8211;</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:130%;padding-left:13.56pt">The recoverability of deferred tax assets (see Note 17) and the forecast of corporate tax expense.</font></div><div style="margin-bottom:10pt;margin-top:10pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:130%">In general, the BBVA Group is working to consider and include how climate risk and other climate-related matters can affect the financial statements, cash flows and financial performance of the Group within the models used for the relevant estimations. These estimates and judgments are being considered when preparing the financial statements of the BBVA Group and, where relevant, they are mentioned in the corresponding Notes to the Consolidated Financial Statements.</font></div><div style="margin-bottom:10pt;margin-top:10pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:130%">The prevailing geopolitical and economic uncertainties (see Note 6.1) entail a greater complexity in developing reliable estimations and applying judgment. </font></div><div style="margin-bottom:10pt;margin-top:10pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:130%">Estimates have been made on the basis of the best available information on the matters analyzed as of March 31, 2025. However, it is possible that events may take place subsequent to such date which could make it necessary to amend these estimations (upward or downward), which would be carried out prospectively, recognizing the effects of the change in estimation in the corresponding consolidated financial statements.</font></div><div style="margin-bottom:10pt;margin-top:10pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:130%">During the three-month period ended March 31, 2025 there have been no significant changes in the estimates made as of December 31, 2024, other than those indicated in these Consolidated Financial Statements.</font></div><div id="i4a27b892ded141958e799b2ba3298497_139"></div><div style="margin-bottom:10pt;margin-top:10pt;text-align:justify"><font style="color:#004580;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:130%">1.4.&#160;&#160;&#160;&#160;Related party transactions</font></div><div style="margin-bottom:10pt;margin-top:10pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:130%">The information related to these transactions is presented in Note 53 of the consolidated financial statements of the Group for the year ended December 31, 2024.</font></div><div style="margin-bottom:10pt;margin-top:10pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:130%">As financial institutions, BBVA and other entities in the Group engage in transactions with related parties in the regular course of their business. None of these transactions are considered significant and the transactions are carried out under normal market conditions.</font></div><div id="i4a27b892ded141958e799b2ba3298497_142"></div><div style="margin-bottom:10pt;margin-top:10pt;text-align:justify"><font style="color:#072146;font-family:'Arial',sans-serif;font-size:11pt;font-weight:700;line-height:130%">2.</font><font style="color:#072146;font-family:'Arial',sans-serif;font-size:11pt;font-weight:700;line-height:130%;padding-left:26.84pt">Principles of consolidation, accounting policies, measurement bases applied and recent IFRS pronouncements and interpretations</font></div><div style="margin-bottom:10pt;margin-top:10pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:130%">The accounting policies and methods applied for the preparation of the Consolidated Financial Statements do not differ significantly to those applied in the consolidated financial statements of the Group for the year ended December 31, 2024 (as set forth in Note 2 thereto), except for the application of the requirements of IFRS 9 in relation to accounting hedge relationships as of January 1, 2025.</font></div><div style="margin-bottom:10pt;margin-top:10pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:130%">The BBVA Group decided to transition to the IFRS 9 accounting framework for micro-hedge accounting starting from January 1, 2025. This decision is motivated by the fact that this option is better aligned with the BBVA Group&#8217;s risk management strategy. IFRS 9 introduces changes compared to IAS 39 in various areas, such as hedged items, hedging instruments, accounting for the time value of options and forward elements, hedge rebalancing, and hedge effectiveness assessment, which facilitate and broaden the range of transactions to which hedge accounting can be applied.</font></div><div style="margin-bottom:10pt;margin-top:10pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:130%">The BBVA Group has adapted its accounting policies and processes to the new regulations. A procedure has been established to document the requirements for recognizing an economic hedge as a hedge accounting measure, including measures such as clear identification of hedged items and hedging instruments, an assessment of a hedge&#8217;s effectiveness and supporting evidence of the relevant entity&#8217;s intention to manage its risk through these instruments.</font></div><div style="margin-bottom:10pt;margin-top:10pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:130%">The adoption of this accounting policy has not had any significant impact on the Group's Consolidated Financial Statements.</font></div><div style="margin-bottom:10pt;margin-top:10pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:130%">With respect to the accounting of macro-hedging relationships, the Group maintains the criteria established in IAS 39.</font></div><div style="margin-bottom:10pt;margin-top:10pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:130%">The standards that came into effect on January 1, 2025, as well as the standards issued by the IASB but not yet in force as of March 31, 2025, are listed below. The most notable standards are&#58;</font></div><div id="i4a27b892ded141958e799b2ba3298497_145"></div><div style="margin-bottom:10pt;margin-top:10pt;text-align:justify"><font style="color:#004580;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:130%">2.1.</font><font style="color:#004580;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:130%;padding-left:19.34pt">Standards and interpretations that became effective in the first three months of 2025</font></div><div style="height:42.52pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="margin-bottom:10pt;margin-top:10pt;text-align:center"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:130%">F-10</font></div></div></div><div id="i4a27b892ded141958e799b2ba3298497_148"></div><hr style="page-break-after:always"><div style="min-height:42.52pt;width:100%"><div style="margin-bottom:6pt;margin-top:0.03pt;padding-left:0.56pt;text-align:justify"><font><br></font></div></div><div style="margin-bottom:10pt;margin-top:10pt;text-align:justify"><font style="color:#1873b9;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:130%">Amendment to - IAS 21 &#34;Effects of changes in foreign exchange rates&#34;</font></div><div style="margin-bottom:10pt;margin-top:10pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:130%">On August 15, 2023, the IASB issued a series of amendments to IAS 21 - The effect of changes in foreign exchange rates. The standard has a double objective, on the one hand to provide guidance on when one currency is convertible into another and, on the other hand, how to determine the exchange rate to be used in accounting when it is concluded that such convertibility does not exist.</font></div><div style="margin-bottom:10pt;margin-top:10pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:130%">In relation to the first objective, one currency is convertible into another when an entity can obtain the other currency within a time frame that allows for a normal administrative delay&#59; and through markets or exchange mechanisms in which an exchange transaction creates enforceable rights and obligations. If the entity determines that there is no convertibility between currencies, it must estimate an exchange rate. The standard does not establish a specific estimation technique for them, but rather establishes guidelines for their determination, allowing the use of an observable type without adjusting or using an estimation technique.</font></div><div style="margin-bottom:10pt;margin-top:10pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:130%">The modification to the standard entered into force on January 1, 2025. The standard has not had an impact on the BBVA Group's consolidated financial statements.</font></div><div id="i4a27b892ded141958e799b2ba3298497_151"></div><div style="margin-bottom:10pt;margin-top:10pt;text-align:justify"><font style="color:#004580;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:130%">2.2.</font><font style="color:#004580;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:130%;padding-left:19.34pt">Standards and interpretations issued but not yet effective as of March 31, 2025</font></div><div style="margin-bottom:10pt;margin-top:10pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:130%">The following new International Financial Reporting Standards together with their Interpretations or Modifications had been published at the date of preparation of the Consolidated Financial Statements, which are not mandatory as of March 31, 2025. Although in some cases the IASB allows early adoption before their effective date, the BBVA Group has not proceeded with this option for any such new standards.</font></div><div style="margin-bottom:10pt;margin-top:10pt;text-align:justify"><font style="color:#004580;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:130%">IFRS 18 - &#34;Presentation and Disclosures in Financial Statements&#34;</font></div><div style="margin-bottom:10pt;margin-top:10pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:130%">On April 9, 2024, the IASB issued IFRS 18 &#34;Presentation and Disclosures in Financial Statements&#34; which introduces new requirements to improve the quality of information presented in financial statements and to promote analysis, transparency and comparability of companies' performance.</font></div><div style="margin-bottom:10pt;margin-top:10pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:130%">Specifically, IFRS 18 introduces three predefined expense categories (operating, investing, financing) and two subtotals (&#34;operating profit&#34; and &#34;profit before financing and income taxes&#34;) to provide a consistent structure in the income statement and facilitate the analysis of the income statement. Additionally, it introduces disclosure requirements for management-defined performance measures (MPM). Finally, it establishes requirements and provides guidance on aggregation&#47;disaggregation of the information to be provided in the primary financial statements.</font></div><div style="margin-bottom:10pt;margin-top:10pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:130%">This new standard will come into force on January 1, 2027, with early application permitted once it is adopted by the European Union.</font></div><div style="margin-bottom:10pt;margin-top:10pt;text-align:justify"><font style="color:#004580;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:130%">Amendments to IFRS 9 and IFRS 7&#58; Amendments to the classification and measurement of financial instruments</font></div><div style="margin-bottom:10pt;margin-top:10pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:130%">On May 30, 2024, the IASB issued amendments to IFRS 9 and IFRS 7 to clarify how to assess the contractual cash flow characteristics of financial assets that include contingent features such as environmental, social and governance (ESG). Additionally, they clarify that a financial liability should be derecognized on the 'settlement date' and introduce an accounting policy option to derecognize before that date financial liabilities that are settled using an electronic payment system. Finally, additional disclosures are required in IFRS 7 for financial instruments with contingent characteristics and equity instruments classified at fair value through other comprehensive income.</font></div><div style="margin-bottom:10pt;margin-top:10pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:130%">The amendments will come into force on January 1, 2026, although they may be applied earlier once they have been adopted by the European Union. </font></div><div style="margin-bottom:10pt;margin-top:10pt;text-align:justify"><font style="color:#1873b9;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:130%">IFRS 19 &#34;Subsidiaries without Public Accountability&#58; Disclosures&#34;</font></div><div style="margin-bottom:10pt;margin-top:10pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:130%">On May 9, 2024, the IASB issued IFRS 19 &#34;Subsidiaries without Public Accountability&#58; Disclosures&#34; which allows certain eligible entities to elect to apply the reduced disclosure requirements of IFRS 19 while continuing to apply the requirements of recognition, valuation and presentation of other IFRS accounting standards. </font></div><div style="margin-bottom:10pt;margin-top:10pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:130%">This new standard will enter into force on January 1, 2027, allowing early application once it is adopted by the European Union. In the Group there are no eligible entities within the scope of this standard, so no significant impact on the BBVA Group's financial statements is expected.</font></div><div style="margin-bottom:10pt;margin-top:10pt;text-align:justify"><font style="color:#1873b9;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:130%">Amendments to IFRS 9 and IFRS 7&#58; Contracts that refer to nature-dependent electricity</font></div><div style="margin-bottom:10pt;margin-top:10pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:130%">On December 18, 2024, the IASB issued amendments to IFRS 9 and IFRS 7 to address the accounting for contracts for the purchase and sale of renewable electricity, called Power Purchase Agreements (PPA). The amendments include guidance on the &#8220;own use&#8221; exemption for purchasers of electricity and requirements to apply hedge accounting on these arrangements.</font></div><div style="margin-bottom:10pt;margin-top:10pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:130%">The amendments will come into force on January 1, 2026, although they can be applied earlier once they have been adopted by the European Union. </font></div><div id="i4a27b892ded141958e799b2ba3298497_157"></div><div style="margin-bottom:10pt;margin-top:10pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:11pt;font-weight:700;line-height:130%">3.</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:11pt;font-weight:700;line-height:130%;padding-left:26.84pt">BBVA Group </font></div><div style="margin-bottom:10pt;margin-top:10pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:130%">The BBVA Group is an international diversified financial group with a significant presence in retail banking, wholesale banking and asset management. The Group also operates in the insurance sector.</font></div><div style="margin-bottom:10pt;margin-top:10pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:130%">The following information is detailed in the Appendices to the consolidated financial statements of the Group for the year ended December 31, 2024&#58;</font></div><div style="height:42.52pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="margin-bottom:10pt;margin-top:10pt;text-align:center"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:130%">F-11</font></div></div></div><hr style="page-break-after:always"><div style="min-height:42.52pt;width:100%"><div style="margin-bottom:6pt;margin-top:0.03pt;padding-left:0.56pt;text-align:justify"><font><br></font></div></div><div style="margin-bottom:10pt;margin-top:10pt;padding-left:21.26pt;text-align:justify;text-indent:-18pt"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">&#8211;</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%;padding-left:13.56pt">Appendix I shows relevant information related to the consolidated subsidiaries and structured entities.</font></div><div style="margin-bottom:10pt;margin-top:10pt;padding-left:21.26pt;text-align:justify;text-indent:-18pt"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">&#8211;</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%;padding-left:13.56pt">Appendix II shows relevant information related to investments in joint ventures and associates accounted for using the equity method. </font></div><div style="margin-bottom:10pt;margin-top:10pt;padding-left:21.26pt;text-align:justify;text-indent:-18pt"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">&#8211;</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%;padding-left:13.56pt">Appendix III shows the main changes and notification of investments and divestments in the BBVA Group.</font></div><div style="margin-bottom:10pt;margin-top:10pt;padding-left:21.26pt;text-align:justify;text-indent:-18pt"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">&#8211;</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%;padding-left:13.56pt">Appendix IV shows fully consolidated subsidiaries with more than 10% owned by non-Group shareholders.</font></div><div style="margin-bottom:10pt;margin-top:10pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:130%">The BBVA Group&#8217;s activities are mainly located in Spain, Mexico, Turkey and South America, with an active presence in other areas of Europe, the United States and Asia (see Note 5).</font></div><div style="margin-bottom:10pt;margin-top:10pt;text-align:justify"><font style="color:#004580;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:130%">Significant transactions in the first three months of 2025 and the year 2024  </font></div><div style="margin-bottom:10pt;margin-top:10pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:130%">During the first three months of 2025 and during the year 2024 no significant or relevant corporate transactions have been completed, without prejudice to the announcement of the voluntary tender offer for the acquisition of all of the issued shares of Banco de Sabadell, S.A.</font></div><div style="margin-bottom:10pt;margin-top:10pt;text-align:justify"><font style="color:#004580;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:130%">Other relevant additional information</font></div><div><font style="color:#004580;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:103%">Announcement of the voluntary tender offer for the acquisition of all of the issued shares of Banco de Sabadell, S.A.</font></div><div style="margin-bottom:10pt;margin-top:10pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:130%">On April 30, 2024, due to a media report, BBVA published an inside information notice (</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-style:italic;font-weight:400;line-height:130%">informaci&#243;n privilegiada</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:130%">) stating that it had informed the chairman of the Board of Directors of Banco de Sabadell, S.A. (the &#34;Target Company&#34;) of the interest of BBVA&#8217;s Board of Directors in initiating negotiations to explore a possible merger between the two entities. On the same date, BBVA sent to the chairman of the Target Company the written proposal for the merger of the two entities. The content of the written proposal sent to the Board of Directors of the Target Company was published on May 1, 2024, by BBVA through the publication of an inside information notice (</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-style:italic;font-weight:400;line-height:130%">informaci&#243;n privilegiada</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:130%">) with the Spanish Securities and Exchange Commission (hereinafter &#8220;CNMV&#8221;).</font></div><div style="margin-bottom:10pt;margin-top:10pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:130%">On May 6, 2024, the Target Company published an inside information notice (</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-style:italic;font-weight:400;line-height:130%">informaci&#243;n privilegiada</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:130%">) informing of the rejection of the proposal by its Board of Directors.</font></div><div style="margin-bottom:10pt;margin-top:10pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:130%">Following such rejection, on May 9, 2024, BBVA announced, through the publication of an inside information notice (</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-style:italic;font-weight:400;line-height:130%">informaci&#243;n privilegiada</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:130%">) (the &#34;Prior Announcement&#34;), the decision to launch a voluntary tender offer (the &#34;Exchange Offer&#34;) for the acquisition of all of the issued shares of the Target Company, being a total of 5,440,221,447 ordinary shares with a par value of &#8364;0.125 each (representing 100% of the Target Company&#8217;s share capital). The consideration initially offered by BBVA to the shareholders of the Target Company consisted of one (1) newly issued share of BBVA for each four and eighty-three hundredths (4.83) ordinary shares of the Target Company, subject to certain adjustments in the case of dividend distribution in accordance with what was indicated in the Prior Announcement.</font></div><div style="margin-bottom:10pt;margin-top:10pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:130%">In accordance with the Prior Announcement of the Exchange Offer and as a consequence of the interim dividend against the 2024 financial year results in the amount of &#8364;0.08 per share paid by the Target Company to its shareholders on October 1, 2024, BBVA proceeded to adjust the Exchange Offer consideration. Therefore, after applying the adjustment in the terms set forth in the Prior Announcement, the consideration offered by BBVA to the shareholders of the Target Company under the Exchange Offer was adjusted to one (1) newly issued ordinary share of BBVA for each five point zero one nine six (5.0196) ordinary shares of the Target Company. </font></div><div style="margin-bottom:10pt;margin-top:10pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:130%">Additionally, as a result of the interim dividend against the 2024 financial year results in the amount of &#8364;0.29 per share paid by BBVA to its shareholders on October 10, 2024, BBVA proceeded to adjust again the Exchange Offer consideration. Therefore, also in accordance with the provisions of the Prior Announcement, the Exchange Offer consideration was adjusted to one (1) newly issued ordinary share of BBVA and &#8364;0.29 in cash for every five point zero one nine six (5.0196) ordinary shares of the Target Company.</font></div><div style="margin-bottom:10pt;margin-top:10pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:130%">In addition, as a consequence of the final dividend against the 2024 financial year results in the gross amount of &#8364;0.1244 per share paid by the Target Company to its shareholders on March 28, 2025, BBVA proceeded to adjust again the Exchange Offer consideration. Therefore, after applying the adjustment in the terms set forth in the Prior Announcement, the consideration offered by BBVA to the shareholders of the Target Company under the Exchange Offer was adjusted to one (1) newly issued ordinary share of BBVA and &#8364;0.29 in cash for every five point three four five six (5.3456) ordinary shares of the Target Company.</font></div><div style="margin-bottom:10pt;margin-top:10pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:130%">Lastly, as a result of the final dividend against the 2024 financial year results in the gross amount of &#8364;0.41 per share paid by BBVA to its shareholders on April 10, 2025, BBVA proceeded to adjust again the Exchange Offer consideration. Accordingly, in accordance with the provisions of the Prior Announcement, the Exchange Offer consideration was adjusted to one (1) newly issued ordinary share of BBVA and &#8364;0.70 in cash for every five point three four five six (5.3456) ordinary shares of the Target Company.</font></div><div style="margin-bottom:10pt;margin-top:10pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:130%">Pursuant to the provisions of Royal Decree 1066&#47;2007, of July 27, 2007, on the rules governing tender offers, the Exchange Offer is subject to mandatory clearance by the CNMV (&#8220;CNMV Clearance&#8221;). Additionally, pursuant to the provisions of Law 10&#47;2014 and Royal Decree 84&#47;2015, the acquisition by BBVA of control of the Target Company resulting from the Exchange Offer is subject to the duty of prior notification to the Bank of Spain and the obtention of the non-opposition of the ECB (which condition was satisfied on September 5, 2024, as described below).</font></div><div style="height:42.52pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="margin-bottom:10pt;margin-top:10pt;text-align:center"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:130%">F-12</font></div></div></div><hr style="page-break-after:always"><div style="min-height:42.52pt;width:100%"><div style="margin-bottom:6pt;margin-top:0.03pt;padding-left:0.56pt;text-align:justify"><font><br></font></div></div><div style="margin-bottom:10pt;margin-top:10pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:130%">In addition, completion of the Exchange Offer is also subject to the satisfaction of the conditions specified in the Prior Announcement, in particular (i) the acceptance of the Exchange Offer by a number of shares that allows BBVA to acquire at least more than half of the effective voting rights of the Target Company at the end of the Exchange Offer acceptance period (therefore excluding the treasury shares that the Target Company may hold at that time) as this condition was amended by BBVA in accordance with the inside information notice </font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-style:italic;font-weight:400;line-height:130%">(informaci&#243;n privilegiada)</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:130%"> dated January 9, 2025, (ii) approval by BBVA&#8217;s General Shareholders&#8217; Meeting of the increase of BBVA&#8217;s share capital through the issue of new ordinary shares with non-cash contributions in an amount that is sufficient to fully cover the consideration offered to the shareholders of the Target Company (which condition was satisfied on July 5, 2024, as described below), (iii) the express or tacit authorization of the economic concentration resulting from the Exchange Offer by the Spanish antitrust authorities, and (iv) the express or tacit authorization of the indirect acquisition of control of the Target Company&#8217;s banking subsidiary in the United Kingdom, TSB Bank PLC, by the United Kingdom Prudential Regulation Authority (PRA) (which condition was satisfied on September 2, 2024, as described below).</font></div><div style="margin-bottom:10pt;margin-top:10pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:130%">On July 5, 2024, the BBVA&#8217;s Extraordinary General Shareholders' Meeting resolved to authorize, with 96% votes in favor, an increase in the share capital of BBVA of up to a maximum nominal amount of &#8364;551,906,524.05 through the issuing and putting into circulation of up to 1,126,339,845 ordinary shares of &#8364;0.49 par value each to cover the consideration in shares offered to the shareholders of the Target Company (see Note 24). On March 21, 2025, BBVA&#8217;s Ordinary General Shareholders&#8217; Meeting approved the renewal of such resolution for its exercise within a one (1) year period from such date.</font></div><div style="margin-bottom:10pt;margin-top:10pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:130%">On September 3, 2024, BBVA announced that it had received on September 2, 2024 the authorization from the Prudential Regulation Authority (PRA) for BBVA&#8217;s indirect acquisition of control of TSB Bank PLC, the Target Company&#8217;s banking subsidiary in the United Kingdom, as a result of the Exchange Offer.</font></div><div style="margin-bottom:10pt;margin-top:10pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:130%">On September 5, 2024, BBVA announced that it received the decision of non-opposition from the European Central Bank to BBVA&#8217;s taking control of the Target Company, as a result of the Exchange Offer.</font></div><div style="margin-bottom:10pt;margin-top:10pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:130%">On November 12, 2024, the Spanish antitrust authorities announced their decision that further review of the economic concentration resulting from the Exchange Offer would be required, extending antitrust review into a second phase.</font></div><div style="margin-bottom:10pt;margin-top:10pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:130%">The Exchange Offer is subject to approval by the CNMV and to the approval of the economic concentration resulting from the Exchange Offer by the Spanish competition authorities. The detailed terms of the Exchange Offer will be set out in the Spanish prospectus (which was submitted together with the Exchange Offer request to the CNMV for their authorization on May 24, 2024 and will be published after obtaining CNMV Clearance) and the relevant U.S. offer to exchange&#47;prospectus.</font></div><div id="i4a27b892ded141958e799b2ba3298497_160"></div><div style="margin-bottom:10pt;margin-top:12pt;text-align:justify"><font style="color:#072146;font-family:'Arial',sans-serif;font-size:11pt;font-weight:700;line-height:130%">4.</font><font style="color:#072146;font-family:'Arial',sans-serif;font-size:11pt;font-weight:700;line-height:130%;padding-left:26.84pt">Shareholder remuneration system</font></div><div style="margin-bottom:10pt;margin-top:10pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:130%">The Annual General Shareholder's Meeting of BBVA held on March 21, 2025, approved, under item 1.3 of the Agenda, a cash distribution against the 2024 results as a final dividend for the 2024 fiscal year, for an amount equal to &#8364;0.41 (&#8364;0.3321 net of withholding tax) per outstanding BBVA share entitled to participate in this distribution, which was paid on April 10, 2025. The total amount paid, excluding treasury shares held by the Group's companies, amounted to &#8364;2,360 million. </font></div><div style="margin-bottom:10pt;margin-top:10pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:130%">Additionally, on January 30, 2025, a BBVA share repurchase program for an amount of &#8364;993 million was announced, which is pending execution as of the date of this document.</font></div><div id="i4a27b892ded141958e799b2ba3298497_163"></div><div style="margin-bottom:10pt;margin-top:10pt;text-align:justify"><font style="color:#072146;font-family:'Arial',sans-serif;font-size:11pt;font-weight:700;line-height:130%">5.</font><font style="color:#072146;font-family:'Arial',sans-serif;font-size:11pt;font-weight:700;line-height:130%;padding-left:26.84pt">Operating segment reporting</font></div><div style="margin-bottom:10pt;margin-top:10pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:130%">Operating segment reporting represents a basic tool for monitoring and managing the different activities of the BBVA Group. In preparing the information by operating segment, the starting point is the lowest-level units, which are aggregated in accordance with the organizational structure determined by the Group's Management to create higher-level units and, finally, the reportable operating segments themselves.</font></div><div style="margin-bottom:10pt;margin-top:10pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:130%">As of March 31, 2025, the structure of the information by operating segment reported by the BBVA Group remains the same as that of the closing of 2024 financial year.</font></div><div style="margin-bottom:10pt;margin-top:10pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:130%">The BBVA Group's operating areas or segments are summarized below&#58;</font></div><div style="margin-bottom:10pt;margin-top:10pt;padding-left:36pt;text-align:justify;text-indent:-18pt"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:130%">&#8211;</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:130%;padding-left:13.56pt">Spain includes mainly the banking, insurance and asset management businesses that the Group carries out in Spain.</font></div><div style="margin-bottom:10pt;margin-top:10pt;padding-left:36pt;text-align:justify;text-indent:-18pt"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:130%">&#8211;</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:130%;padding-left:13.56pt">Mexico includes banking, insurance and asset management businesses in this country as well as the activity that BBVA Mexico carries out through its agency in Houston. </font></div><div style="margin-bottom:10pt;margin-top:10pt;padding-left:36pt;text-align:justify;text-indent:-18pt"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:130%">&#8211;</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:130%;padding-left:13.56pt">Turkey reports the activity of Garanti BBVA group that is mainly carried out in this country and, to a lesser extent, in Romania and the Netherlands. </font></div><div style="height:42.52pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="margin-bottom:10pt;margin-top:10pt;text-align:center"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:130%">F-13</font></div></div></div><hr style="page-break-after:always"><div style="min-height:42.52pt;width:100%"><div style="margin-bottom:6pt;margin-top:0.03pt;padding-left:0.56pt;text-align:justify"><font><br></font></div></div><div style="margin-bottom:10pt;margin-top:10pt;padding-left:36pt;text-align:justify;text-indent:-18pt"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:130%">&#8211;</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:130%;padding-left:13.56pt">South America includes banking, financial, insurance and asset management activity that are carried out mainly in Argentina, Chile, Colombia, Peru, Uruguay and Venezuela.</font></div><div style="margin-bottom:10pt;margin-top:10pt;padding-left:36pt;text-align:justify;text-indent:-22.5pt"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:130%">&#8211;</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:130%;padding-left:18.06pt">Rest of business mainly incorporates the wholesale activity carried out in Europe (excluding Spain), the United States, and the BBVA branches located in Asia.</font></div><div style="margin-bottom:10pt;margin-top:10pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:130%">The Corporate Center performs centralized Group functions, including&#58; the costs of the head offices with a corporate function for the consolidated BBVA Group, management of structural exchange rate positions&#59; certain portfolios, such as financial and industrial holdings or stakes in Funds &#38; Investment Vehicles in tech companies&#59; certain tax assets and liabilities&#59; funds for employee commitments&#59; goodwill and other intangible assets, as well as the financing of such portfolios and assets.</font></div><div style="margin-bottom:10pt;margin-top:10pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:130%">The breakdown of the BBVA Group&#8217;s total assets by operating segment and the Corporate Center as of March 31, 2025 and December 31, 2024, is as follows&#58;</font></div><div><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.893%"><tr><td style="width:1.0%"></td><td style="width:68.083%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:14.308%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:14.309%"></td><td style="width:0.1%"></td></tr><tr><td colspan="9" style="background-color:#e9e9e9;padding:2px 1pt 2px 1.49pt;text-align:left;text-indent:-0.49pt;vertical-align:middle"><font style="color:#02a5a5;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Total Group assets by operating segments (Millions of Euros)</font></td></tr><tr><td colspan="3" style="padding:0 1pt 0 1.18pt;text-indent:-0.18pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1.18pt 2px 1pt;text-align:right;text-indent:-0.18pt;vertical-align:middle"><font style="color:#072146;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:120%">March 2025</font></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:right;text-indent:-0.18pt;vertical-align:middle"><font style="color:#072146;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:120%">December 2024 &#8317;&#185;&#8318;</font></td></tr><tr><td colspan="3" style="background-color:#ffffff;border-left:0.25pt solid #ffffff;border-top:1pt solid #000;padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Spain</font></td><td colspan="3" style="background-color:#ffffff;border-left:0.25pt solid #ffffff;border-top:1pt solid #000;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">405,324</font></td><td colspan="3" style="background-color:#ffffff;border-left:0.25pt solid #ffffff;border-right:0.25pt solid #ffffff;border-top:1pt solid #000;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">411,620</font></td></tr><tr><td colspan="3" style="background-color:#ffffff;border-left:0.25pt solid #ffffff;border-top:0.25pt solid #ffffff;padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Mexico</font></td><td colspan="3" style="background-color:#ffffff;border-left:0.25pt solid #ffffff;border-top:0.25pt solid #ffffff;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">162,908</font></td><td colspan="3" style="background-color:#ffffff;border-left:0.25pt solid #ffffff;border-right:0.25pt solid #ffffff;border-top:0.25pt solid #ffffff;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">168,470</font></td></tr><tr><td colspan="3" style="background-color:#ffffff;border-left:0.25pt solid #ffffff;border-top:0.25pt solid #ffffff;padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Turkey</font></td><td colspan="3" style="background-color:#ffffff;border-left:0.25pt solid #ffffff;border-top:0.25pt solid #ffffff;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">85,975</font></td><td colspan="3" style="background-color:#ffffff;border-left:0.25pt solid #ffffff;border-right:0.25pt solid #ffffff;border-top:0.25pt solid #ffffff;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">82,782</font></td></tr><tr><td colspan="3" style="background-color:#ffffff;border-left:0.25pt solid #ffffff;border-top:0.25pt solid #ffffff;padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">South America</font></td><td colspan="3" style="background-color:#ffffff;border-left:0.25pt solid #ffffff;border-top:0.25pt solid #ffffff;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">72,915</font></td><td colspan="3" style="background-color:#ffffff;border-left:0.25pt solid #ffffff;border-right:0.25pt solid #ffffff;border-top:0.25pt solid #ffffff;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">73,997</font></td></tr><tr><td colspan="3" style="background-color:#ffffff;border-left:0.25pt solid #ffffff;border-top:0.25pt solid #ffffff;padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Rest of Business</font></td><td colspan="3" style="background-color:#ffffff;border-left:0.25pt solid #ffffff;border-top:0.25pt solid #ffffff;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">64,826</font></td><td colspan="3" style="background-color:#ffffff;border-left:0.25pt solid #ffffff;border-right:0.25pt solid #ffffff;border-top:0.25pt solid #ffffff;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">66,534</font></td></tr><tr><td colspan="3" style="background-color:#5ac4c4;border-top:0.25pt solid #ffffff;padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#ffffff;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Subtotal assets by operating segments</font></td><td colspan="3" style="background-color:#5ac4c4;border-top:0.25pt solid #ffffff;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#ffffff;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:120%">791,947</font></td><td colspan="3" style="background-color:#5ac4c4;border-top:0.25pt solid #ffffff;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#ffffff;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:120%">803,404</font></td></tr><tr><td colspan="3" style="background-color:#ffffff;border-left:0.25pt solid #ffffff;border-top:0.25pt solid #ffffff;padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Corporate Center and adjustments</font></td><td colspan="3" style="background-color:#ffffff;border-left:0.25pt solid #ffffff;border-top:0.25pt solid #ffffff;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(19,085)</font></td><td colspan="3" style="background-color:#ffffff;border-left:0.25pt solid #ffffff;border-right:0.25pt solid #ffffff;border-top:0.25pt solid #ffffff;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(31,002)</font></td></tr><tr><td colspan="3" style="background-color:#5ac4c4;border-bottom:0.25pt solid #ffffff;border-top:0.25pt solid #ffffff;padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#ffffff;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Total assets BBVA Group</font></td><td colspan="3" style="background-color:#5ac4c4;border-bottom:0.25pt solid #ffffff;border-top:0.25pt solid #ffffff;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#ffffff;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:120%">772,863</font></td><td colspan="3" style="background-color:#5ac4c4;border-bottom:0.25pt solid #ffffff;border-top:0.25pt solid #ffffff;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#ffffff;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:120%">772,402</font></td></tr></table></div><div style="text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:6pt;font-weight:400;line-height:112%">(1) In the first quarter of 2025 the Group changed its allocation criteria for certain immaterial balance sheet amounts related to specific activities among the business units were reallocated between the operating segments and the Corporate Center. As a result, certain expenses were reallocated, in particular, between Spain, Rest of Business and the Corporate Center. In order to make the period-on-period comparison homogeneous, the figures for year 2024 have been revised, which has not affected the consolidated financial information of the Group.</font></div><div style="margin-bottom:10pt;margin-top:10pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:130%">The following table sets forth the main margins and profit by operating segment and the Corporate Center for the three months ended March 31, 2025 and 2024&#58;</font></div><div style="text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.893%"><tr><td style="width:1.0%"></td><td style="width:28.483%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:8.299%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:8.299%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:8.299%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:8.299%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:8.299%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:8.299%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:12.923%"></td><td style="width:0.1%"></td></tr><tr><td colspan="24" style="background-color:#E9E9E9;padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#02A5A5;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Main margins and profit by operating segments (Millions of Euros)</font></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="21" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#072146;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Operating Segments</font></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#072146;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:120%">BBVA Group</font></td><td colspan="3" style="border-top:1pt solid #000;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#072146;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Spain</font></td><td colspan="3" style="border-top:1pt solid #000;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#072146;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Mexico</font></td><td colspan="3" style="border-top:1pt solid #000;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#072146;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Turkey</font></td><td colspan="3" style="border-top:1pt solid #000;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#072146;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:120%">South America</font></td><td colspan="3" style="border-top:1pt solid #000;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#072146;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Rest of Business</font></td><td colspan="3" style="border-top:1pt solid #000;padding:2px 1pt;text-align:left;vertical-align:middle"><div style="margin-bottom:0.1pt;text-align:center"><font style="color:#072146;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Corporate Center and adjustments</font></div></td></tr><tr><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 1pt;text-align:left;text-indent:-0.18pt;vertical-align:middle"><font style="color:#072146;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:120%">March 2025</font></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000;padding:0 1.18pt 0 1pt;text-indent:-0.18pt"></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000;padding:0 1.18pt 0 1pt;text-indent:-0.18pt"></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000;padding:0 1.18pt 0 1pt;text-indent:-0.18pt"></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000;padding:0 1.18pt 0 1pt;text-indent:-0.18pt"></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000;padding:0 1.18pt 0 1pt;text-indent:-0.18pt"></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000;padding:0 1.18pt 0 1pt;text-indent:-0.18pt"></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000;padding:0 1.18pt 0 1pt;text-indent:-0.18pt"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Net interest income</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">6,398</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">1,607</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">2,767</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">701</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">1,231</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">191</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(99)</font></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Gross income</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">9,324</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">2,533</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">3,705</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">1,267</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">1,438</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">437</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(55)</font></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Operating profit &#47;(loss) before tax</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">4,348</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">1,553</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">1,852</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">453</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">512</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">220</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(242)</font></td></tr><tr><td colspan="3" style="background-color:#5ac4c4;padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#ffffff;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Attributable profit (loss)</font></td><td colspan="3" style="background-color:#5AC4C4;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#ffffff;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:120%">2,698</font></td><td colspan="3" style="background-color:#5AC4C4;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#ffffff;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:120%">1,024</font></td><td colspan="3" style="background-color:#5AC4C4;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#ffffff;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:120%">1,332</font></td><td colspan="3" style="background-color:#5AC4C4;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#ffffff;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:120%">158</font></td><td colspan="3" style="background-color:#5AC4C4;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#ffffff;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:120%">218</font></td><td colspan="3" style="background-color:#5AC4C4;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#ffffff;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:120%">173</font></td><td colspan="3" style="background-color:#5AC4C4;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#ffffff;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:120%">(208)</font></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:middle"><div style="margin-bottom:0.04pt;margin-top:0.06pt;text-indent:-0.18pt"><font style="color:#072146;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:120%">March 2024 </font><font style="color:#072146;font-family:'Arial',sans-serif;font-size:5.2pt;font-weight:700;line-height:120%;position:relative;top:-2.8pt;vertical-align:baseline">(1)</font></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1.18pt 0 1pt;text-indent:-0.18pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1.18pt 0 1pt;text-indent:-0.18pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1.18pt 0 1pt;text-indent:-0.18pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1.18pt 0 1pt;text-indent:-0.18pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1.18pt 0 1pt;text-indent:-0.18pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1.18pt 0 1pt;text-indent:-0.18pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1.18pt 0 1pt;text-indent:-0.18pt"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Net interest income</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#121212;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">6,512</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#121212;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">1,587</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#121212;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">2,999</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#121212;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">277</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#121212;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">1,555</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#121212;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">157</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#121212;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(64)</font></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Gross income</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">8,218</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">2,143</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">3,967</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">897</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">1,201</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">339</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(329)</font></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Operating profit &#47;(loss) before tax</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">3,458</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">1,130</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">2,009</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">413</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">201</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">163</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(459)</font></td></tr><tr><td colspan="3" style="background-color:#5ac4c4;padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#ffffff;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Attributable profit (loss) </font></td><td colspan="3" style="background-color:#5AC4C4;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#FFFFFF;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:120%">2,200</font></td><td colspan="3" style="background-color:#5AC4C4;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#FFFFFF;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:120%">712</font></td><td colspan="3" style="background-color:#5AC4C4;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#FFFFFF;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:120%">1,441</font></td><td colspan="3" style="background-color:#5AC4C4;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#FFFFFF;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:120%">144</font></td><td colspan="3" style="background-color:#5AC4C4;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#FFFFFF;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:120%">119</font></td><td colspan="3" style="background-color:#5AC4C4;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#FFFFFF;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:120%">122</font></td><td colspan="3" style="background-color:#5AC4C4;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#FFFFFF;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:120%">(339)</font></td></tr></table></div><div style="padding-left:0.56pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:6pt;font-weight:400;line-height:130%"> (1) In the first quarter of 2025 the Group changed its allocation criteria for certain immaterial balance sheet amounts related to specific activities among the business units were reallocated between the operating segments and the Corporate Center. As a result, certain expenses were reallocated, in particular, between Spain, Rest of Business and the Corporate Center. In order to make those period-on-period comparisons homogeneous, the figures for year 2024 have been revised, which has not affected the consolidated financial information of the Group.</font></div><div id="i4a27b892ded141958e799b2ba3298497_166"></div><div style="margin-bottom:10pt;margin-top:20pt;text-align:justify"><font style="color:#072146;font-family:'Arial',sans-serif;font-size:11pt;font-weight:700;line-height:130%">6.</font><font style="color:#072146;font-family:'Arial',sans-serif;font-size:11pt;font-weight:700;line-height:130%;padding-left:26.84pt">Risk management</font></div><div style="margin-bottom:10pt;margin-top:10pt;text-align:justify;text-indent:0.15pt"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:130%">The principles and risk management policies, as well as tools and procedures established and implemented in the Group as of March 31, 2025 do not differ significantly from those included in Note 7 of the consolidated financial statements of the Group for the year ended December 31, 2024.</font></div><div id="i4a27b892ded141958e799b2ba3298497_169"></div><div style="margin-bottom:10pt;margin-top:10pt;text-align:justify"><font style="color:#004580;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:130%">6.1</font><font style="color:#004580;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:130%;padding-left:22.11pt">Risk factors</font></div><div style="margin-bottom:10pt;margin-top:10pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:130%">The BBVA Group has processes in place for identifying risks and analyzing scenarios in order to enable the Group to manage risks in a dynamic and proactive way.</font></div><div style="margin-bottom:10pt;margin-top:10pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:130%">The risk identification processes are forward looking to seek the identification of emerging risks and take into account the concerns of both the business areas, which are close to the reality of the different geographical areas, and the corporate areas and senior management.</font></div><div style="margin-bottom:10pt;margin-top:10pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:130%">Risks are identified and measured consistently using the methodologies deemed appropriate in each case. Their measurement includes the design and application of scenario analyses and stress testing and considers the controls to which the risks are subjected. </font></div><div style="height:42.52pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="margin-bottom:10pt;margin-top:10pt;text-align:center"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:130%">F-14</font></div></div></div><hr style="page-break-after:always"><div style="min-height:42.52pt;width:100%"><div style="margin-bottom:6pt;margin-top:0.03pt;padding-left:0.56pt;text-align:justify"><font><br></font></div></div><div style="margin-bottom:10pt;margin-top:10pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:130%">As part of this process, a forward projection of the Risk Appetite Framework (RAF) variables in stress scenarios is conducted in order to identify possible deviations from the established thresholds. If any such deviations are detected, measures are taken to seek to keep the variables within the target risk profile.</font></div><div style="margin-bottom:10pt;margin-top:10pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:130%">In this context, there are a number of emerging risks that could affect the evolution of the Group&#8217;s business, including the below and those mentioned in Note 7.1 to the consolidated financial statements of the Group for the year ended December 31, 2024&#58; </font></div><div style="margin-bottom:10pt;margin-top:10pt;padding-left:36pt;text-align:justify;text-indent:-18pt"><font style="color:#004580;font-family:'Arial',sans-serif;font-size:9pt;font-weight:700;line-height:130%">&#8211;</font><font style="color:#004580;font-family:'Arial',sans-serif;font-size:9pt;font-weight:700;line-height:130%;padding-left:13pt">Macroeconomic and geopolitical risks</font></div><div style="margin-bottom:10pt;margin-top:10pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:130%">The Group is sensitive to the deterioration of economic conditions and the alteration of the institutional environment of the countries in which it operates, and the Group is exposed to sovereign debt especially in Spain, Mexico and Turkey.</font></div><div style="margin-bottom:10pt;margin-top:10pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:130%">The global economy is undergoing significant changes, driven primarily by the policies of the new U.S. administration. Uncertainty surrounding their consequences is exceptionally high, substantially increasing geopolitical, economic and financial risks.</font></div><div style="margin-bottom:10pt;margin-top:10pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:130%">The recent significant increase in either adopted or announced U.S. tariff on imports from its trade partners have triggered strong financial market volatility, reinforcing risks to the global economic outlook. High uncertainty about the final level and duration of these tariffs, together with the related financial instability, could negatively impact the world economy, worsening the prospects for the macroeconomic environment. As a result of adopted or announced tariffs, global growth could slow or decline. The impact on economic activity could be particularly pronounced in the United States and China, given China&#180;s response to the measures announced by the U.S. government and the recent escalation in trade tensions between the United States and China, which could also weigh on other economies.</font></div><div style="margin-bottom:10pt;margin-top:10pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:130%">While fiscal stimulus measures could partially offset the impact of trade protectionism, particularly in the Eurozone, where significant public spending increases have been announced, the impact of higher U.S. tariffs could be amplified by the adoption of retaliatory measures by other countries, sustained uncertainty, weakening confidence levels and evolving financial conditions, among other factors. Increased tariffs would also raise the risk of inflation in the United States, potentially limiting the Federal Reserve&#8217;s room to cut interest rates in 2025. In contrast, weaker growth in the Eurozone could allow the European Central Bank to implement slightly larger-than-expected rate cuts, although this would also depend, among other factors, on the EU&#8217;s response to U.S. tariffs, which could create additional inflationary pressures. Beyond higher import tariffs, tighter U.S. controls on migration flows could affect the labor market, add to inflationary pressures and weigh on economic growth. The new U.S. administration&#8217;s fiscal, regulatory, industrial and foreign policies, among others, could likewise contribute to financial and macroeconomic volatility.</font></div><div style="margin-bottom:10pt;margin-top:10pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:130%">In addition, there is a high risk of sovereign debt tensions, given the high debt levels in both developed and emerging countries, relatively high interest rates, and weak economic growth prospects.</font></div><div style="margin-bottom:10pt;margin-top:10pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:130%">Rising trade protectionism and the growing rivalry between the United States and China, among other factors, could intensify geopolitical tensions, against a backdrop of persistent conflicts in Ukraine and the Middle East. Similarly, recent negotiations aimed at ending the war between Ukraine and Russia could fuel global tensions in the long term, despite potentially having short-term benefits, including downward pressure on energy prices. In response to these risks and the changes in the foreign policy of the new U.S. administration, the European Union has adopted measures to increase military spending, which could support growth but, to some extent, add pressure on inflation and interest rates in the region.</font></div><div style="margin-bottom:10pt;margin-top:10pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:130%">Overall, rising global geopolitical tensions increase uncertainty around the outlook for the world economy and the likelihood of economic and financial disruptions, including an economic recession.</font></div><div style="margin-bottom:10pt;margin-top:10pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:130%">The Group is exposed, among others, to the following general risks related to the economic and institutional environment in the countries where it operates&#58; a deterioration in economic activity, including potential recession scenarios&#59; inflationary pressures that could lead to tightening of monetary conditions&#59; stagflation triggered by intense or prolonged supply shocks, including as a result of a protectionist escalation or a sharp rise in oil and gas prices&#59; exchange rate volatility&#59; adverse developments in real estate markets&#59; changes in the institutional environment of the countries where the Group operates, which could lead to sudden and pronounced GDP contractions and&#47;or shifts in regulatory or government policy, including capital controls, dividend restrictions, or the imposition of new taxes or levies&#59; high levels of public debt or external deficits, which could lead to sovereign credit rating downgrades or even defaults or debt restructurings&#59; the impact of policies adopted by the new U.S. administration, about which significant uncertainty remains&#59; and episodes of financial market volatility, such as those seen recently, that could result in significant losses for the Group.</font></div><div style="margin-bottom:10pt;margin-top:10pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:130%">In Spain, political, regulatory, and economic uncertainty may have a negative impact on economic activity. In Mexico, there is considerable uncertainty regarding the impact of recently approved constitutional reforms, as well as the policies of the new U.S. administration (especially if protectionist measures affect growth expectations). In Turkey, despite the gradual improvement in macroeconomic conditions, the situation remains relatively unstable, marked by pressure on the Turkish lira, high inflation, a significant trade deficit, relatively low central bank foreign exchange reserves, and high external financing costs. Recent political and social tensions could also trigger new episodes of financial volatility and macroeconomic risks. Moreover, uncertainty remains over the impact of the geopolitical situation in the Middle East&#8212;particularly in Syria&#8212;on Turkey. These factors could lead to a deterioration in the purchasing power and creditworthiness of the Group&#8217;s customers, both households and corporates. In addition, official interest rates, regulatory and macroprudential policies affecting the banking sector, and currency depreciation in Turkey have impacted and may continue to impact the Group&#8217;s results. In Argentina, the risk of economic and financial turmoil persists, as the government has substantially changed Argentina&#180;s policy framework and is pursuing a strong fiscal and monetary adjustment to curb inflation. Lastly, in Colombia and Peru, climate-related factors, political tensions, and a deterioration of public finances could weigh on economic performance.Furthermore, there is an increasing risk of sovereign debt tensions, given the high debt levels in developed and emerging countries, relatively high interest rates and weak economic growth prospects. </font></div><div style="margin-bottom:10pt;margin-top:10pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:130%">Any of these factors may have a significant adverse effect on the Group&#8217;s business, financial condition and results of operations.</font></div><div style="height:42.52pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="margin-bottom:10pt;margin-top:10pt;text-align:center"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:130%">F-15</font></div></div></div><div id="i4a27b892ded141958e799b2ba3298497_172"></div><hr style="page-break-after:always"><div style="min-height:42.52pt;width:100%"><div style="margin-bottom:6pt;margin-top:0.03pt;padding-left:0.56pt;text-align:justify"><font><br></font></div></div><div style="margin-bottom:10pt;margin-top:10pt;text-align:justify"><font style="color:#004580;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:130%">6.2</font><font style="color:#004580;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:130%;padding-left:22.11pt">Credit risk </font></div><div id="i4a27b892ded141958e799b2ba3298497_175"></div><div style="margin-bottom:10pt;margin-top:10pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:130%">Credit risk arises from the probability that one party to a financial instrument will fail to meet its contractual obligations for reasons of insolvency or inability to pay and cause a financial loss for the other party. The general principles governing credit risk management in the BBVA Group, as well as the credit risk management in the Group as of March 31, 2025 do not differ significantly from those included in Note 7 of the consolidated financial statements of the Group for the year ended December 31, 2024.</font></div><div id="i4a27b892ded141958e799b2ba3298497_178"></div><div style="margin-bottom:10pt;margin-top:10pt;text-align:justify"><font style="color:#004580;font-family:'Arial',sans-serif;font-size:9pt;font-weight:700;line-height:130%">Credit risk exposure</font></div><div style="margin-bottom:10pt;margin-top:10pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:130%">In accordance with IFRS 7 &#8220;Financial Instruments&#58; Disclosures&#8221;, the BBVA Group&#8217;s credit risk exposure by headings in the consolidated balance sheets as of March 31, 2025 and December 31, 2024 is provided below. It does not consider the loss allowances and the availability of collateral or other credit enhancements to ensure compliance with payment obligations. The details are broken down by category of financial instruments&#58;</font></div><div style="margin-bottom:10pt;margin-top:10pt;text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.893%"><tr><td style="width:1.0%"></td><td style="width:49.285%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:7.220%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.223%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.223%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.223%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.226%"></td><td style="width:0.1%"></td></tr><tr><td colspan="18" style="background-color:#e9e9e9;padding:2px 1pt 2px 1.49pt;text-align:left;text-indent:-0.49pt;vertical-align:middle"><font style="color:#02a5a5;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Maximum credit risk exposure (Millions of Euros)</font></td></tr><tr><td colspan="3" style="border-left:0.25pt solid #ffffff;padding:0 1pt;text-indent:-0.18pt"></td><td colspan="3" style="border-left:0.25pt solid #ffffff;padding:2px 1pt;text-align:center;text-indent:-0.18pt;vertical-align:middle"><font style="color:#072146;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:120%">Notes</font></td><td colspan="3" style="border-left:0.25pt solid #ffffff;padding:2px 1pt;text-align:right;text-indent:-0.18pt;vertical-align:middle"><font style="color:#072146;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:120%">March <br>2025</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;text-indent:-0.18pt;vertical-align:middle"><font style="color:#072146;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:120%">Stage 1</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;text-indent:-0.18pt;vertical-align:middle"><font style="color:#072146;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:120%">Stage 2</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;text-indent:-0.18pt;vertical-align:middle"><font style="color:#072146;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:120%">Stage 3</font></td></tr><tr><td colspan="3" style="border-top:1pt solid #000;padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#004481;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:120%">Financial assets held for trading </font></td><td colspan="3" style="border-top:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#004481;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:120%">71,618</font></td><td colspan="3" style="border-top:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000;padding:0 1pt"></td></tr><tr><td colspan="3" style="border-top:1pt solid #929292;padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">Equity instruments</font></td><td colspan="3" style="border-top:1pt solid #929292;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">9</font></td><td colspan="3" style="border-top:1pt solid #929292;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">6,549</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">Debt securities</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">9</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">24,795</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">Loans and advances</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">9</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">40,274</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#004481;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:120%">Non-trading financial assets mandatorily at fair value through profit or loss</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#004481;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:120%">10,570</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="border-top:1pt solid #929292;padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">Equity instruments</font></td><td colspan="3" style="border-top:1pt solid #929292;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">10</font></td><td colspan="3" style="border-top:1pt solid #929292;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">9,605</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">Debt securities</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">10</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">581</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">Loans and advances</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">10</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">384</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#004481;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:120%">Financial assets designated at fair value through profit or loss</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#004481;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:120%">11</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#004481;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:120%">929</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="border-top:1pt solid #929292;padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#004481;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:120%">Derivatives (trading and hedging) </font></td><td colspan="3" style="border-top:1pt solid #929292;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #929292;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#004481;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:120%">48,379</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="border-top:1pt solid #929292;padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#004481;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:120%">Financial assets at fair value through other comprehensive income</font></td><td colspan="3" style="border-top:1pt solid #929292;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #929292;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#004481;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:120%">59,839</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="border-top:1pt solid #929292;padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">Equity instruments</font></td><td colspan="3" style="border-top:1pt solid #929292;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">12</font></td><td colspan="3" style="border-top:1pt solid #929292;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">1,573</font></td><td colspan="3" style="border-top:1pt solid #929292;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #929292;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #929292;padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">Debt securities</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">58,241</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">56,215</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">2,011</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">15</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">Loans and advances to credit institutions</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">12</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">25</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">25</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">&#8212;</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">&#8212;</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#004481;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:120%">Financial assets at amortized cost</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#004481;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:120%">523,915</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#004481;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:120%">479,676</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#004481;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:120%">30,432</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#004481;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:120%">13,806</font></td></tr><tr><td colspan="3" style="border-top:1pt solid #929292;padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">Debt securities</font></td><td colspan="3" style="border-top:1pt solid #929292;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #929292;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">63,026</font></td><td colspan="3" style="border-top:1pt solid #929292;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">62,879</font></td><td colspan="3" style="border-top:1pt solid #929292;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">111</font></td><td colspan="3" style="border-top:1pt solid #929292;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">35</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">Loans and advances to central banks</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">9,363</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">9,363</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">&#8212;</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">&#8212;</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">Loans and advances to credit institutions</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">22,853</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">22,847</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">6</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">&#8212;</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">Loans and advances to customers</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">428,673</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">384,587</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">30,315</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">13,771</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#004481;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:120%">Total financial assets risk</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#004481;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:120%">715,249</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="border-top:1pt solid #929292;padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#004481;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:120%">Total loan commitments and financial guarantees</font></td><td colspan="3" style="border-top:1pt solid #929292;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #929292;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#004481;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:120%">287,813</font></td><td colspan="3" style="border-top:1pt solid #929292;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#004481;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:120%">279,567</font></td><td colspan="3" style="border-top:1pt solid #929292;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#004481;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:120%">7,552</font></td><td colspan="3" style="border-top:1pt solid #929292;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#004481;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:120%">694</font></td></tr><tr><td colspan="3" style="border-top:1pt solid #929292;padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">Loan commitments given</font></td><td colspan="3" style="border-top:1pt solid #929292;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">28</font></td><td colspan="3" style="border-top:1pt solid #929292;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">205,240</font></td><td colspan="3" style="border-top:1pt solid #929292;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">199,895</font></td><td colspan="3" style="border-top:1pt solid #929292;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">5,180</font></td><td colspan="3" style="border-top:1pt solid #929292;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">165</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">Financial guarantees given</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">28</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">23,151</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">22,237</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">754</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">160</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">Other commitments given</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">28</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">59,422</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">57,435</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">1,618</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">369</font></td></tr><tr><td colspan="3" style="background-color:#5ac4c4;padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#ffffff;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:120%">Total maximum credit exposure</font></td><td colspan="3" style="background-color:#5ac4c4;padding:0 1pt"></td><td colspan="3" style="background-color:#5ac4c4;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#ffffff;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:120%">1,003,062</font></td><td colspan="3" style="background-color:#5ac4c4;padding:0 1pt"></td><td colspan="3" style="background-color:#5ac4c4;padding:0 1pt"></td><td colspan="3" style="background-color:#5ac4c4;padding:0 1pt"></td></tr></table></div><div style="height:42.52pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="margin-bottom:10pt;margin-top:10pt;text-align:center"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:130%">F-16</font></div></div></div><hr style="page-break-after:always"><div style="min-height:42.52pt;width:100%"><div style="margin-bottom:6pt;margin-top:0.03pt;padding-left:0.56pt;text-align:justify"><font><br></font></div></div><div style="margin-bottom:10pt;margin-top:10pt;text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.893%"><tr><td style="width:1.0%"></td><td style="width:49.593%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:6.912%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.223%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.223%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.223%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.226%"></td><td style="width:0.1%"></td></tr><tr><td colspan="18" style="background-color:#e9e9e9;padding:2px 1pt 2px 1.49pt;text-align:left;text-indent:-0.49pt;vertical-align:middle"><font style="color:#02a5a5;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Maximum credit risk exposure (Millions of Euros)</font></td></tr><tr><td colspan="3" style="border-left:0.25pt solid #ffffff;padding:0 1pt;text-indent:-0.18pt"></td><td colspan="3" style="border-left:0.25pt solid #ffffff;padding:2px 1pt;text-align:center;text-indent:-0.18pt;vertical-align:middle"><font style="color:#072146;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:120%">Notes</font></td><td colspan="3" style="border-left:0.25pt solid #ffffff;padding:2px 1pt;text-align:right;text-indent:-0.18pt;vertical-align:middle"><font style="color:#072146;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:120%">December <br>2024</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;text-indent:-0.18pt;vertical-align:middle"><font style="color:#072146;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:120%">Stage 1</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;text-indent:-0.18pt;vertical-align:middle"><font style="color:#072146;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:120%">Stage 2</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;text-indent:-0.18pt;vertical-align:middle"><font style="color:#072146;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:120%">Stage 3</font></td></tr><tr><td colspan="3" style="border-top:1pt solid #000;padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#004481;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:120%">Financial assets held for trading </font></td><td colspan="3" style="border-top:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#004481;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:120%">72,945</font></td><td colspan="3" style="border-top:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000;padding:0 1pt"></td></tr><tr><td colspan="3" style="border-top:1pt solid #929292;padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">Equity instruments</font></td><td colspan="3" style="border-top:1pt solid #929292;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">9</font></td><td colspan="3" style="border-top:1pt solid #929292;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">6,760</font></td><td colspan="3" style="border-top:1pt solid #929292;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #929292;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #929292;padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">Debt securities</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">9</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">27,955</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">Loans and advances</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">9</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">38,230</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#004481;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:120%">Non-trading financial assets mandatorily at fair value through profit or loss</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#004481;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:120%">10,546</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="border-top:1pt solid #929292;padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">Equity instruments</font></td><td colspan="3" style="border-top:1pt solid #929292;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">10</font></td><td colspan="3" style="border-top:1pt solid #929292;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">9,782</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">Debt securities</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">10</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">407</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">Loans and advances</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">10</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">358</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#004481;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:120%">Financial assets designated at fair value through profit or loss</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#004481;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:120%">11</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#004481;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:120%">836</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="border-top:1pt solid #929292;padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#004481;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:120%">Derivatives (trading and hedging) </font></td><td colspan="3" style="border-top:1pt solid #929292;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #929292;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#004481;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:120%">53,229</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="border-top:1pt solid #929292;padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#004481;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:120%">Financial assets at fair value through other comprehensive income</font></td><td colspan="3" style="border-top:1pt solid #929292;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #929292;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#004481;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:120%">59,115</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="border-top:1pt solid #929292;padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">Equity instruments</font></td><td colspan="3" style="border-top:1pt solid #929292;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">12</font></td><td colspan="3" style="border-top:1pt solid #929292;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">1,451</font></td><td colspan="3" style="border-top:1pt solid #929292;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #929292;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #929292;padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">Debt securities</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">57,639</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">55,315</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">2,309</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">16</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">Loans and advances to credit institutions</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">12</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">25</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">25</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">&#8212;</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">&#8212;</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#004481;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:120%">Financial assets at amortized cost</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#004481;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:120%">514,086</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#004481;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:120%">467,910</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#004481;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:120%">31,930</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#004481;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:120%">14,246</font></td></tr><tr><td colspan="3" style="border-top:1pt solid #929292;padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">Debt securities</font></td><td colspan="3" style="border-top:1pt solid #929292;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #929292;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">59,070</font></td><td colspan="3" style="border-top:1pt solid #929292;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">58,887</font></td><td colspan="3" style="border-top:1pt solid #929292;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">149</font></td><td colspan="3" style="border-top:1pt solid #929292;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">34</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">Loans and advances to central banks</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">8,261</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">8,261</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">&#8212;</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">&#8212;</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">Loans and advances to credit institutions</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">22,668</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">22,658</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">8</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">2</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">Loans and advances to customers</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">424,087</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">378,104</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">31,772</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">14,211</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#004481;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:120%">Total financial assets risk</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#004481;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:120%">710,757</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="border-top:1pt solid #929292;padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#004481;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:120%">Total loan commitments and financial guarantees</font></td><td colspan="3" style="border-top:1pt solid #929292;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #929292;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#004481;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:120%">262,233</font></td><td colspan="3" style="border-top:1pt solid #929292;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#004481;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:120%">253,291</font></td><td colspan="3" style="border-top:1pt solid #929292;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#004481;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:120%">8,150</font></td><td colspan="3" style="border-top:1pt solid #929292;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#004481;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:120%">791</font></td></tr><tr><td colspan="3" style="border-top:1pt solid #929292;padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">Loan commitments given</font></td><td colspan="3" style="border-top:1pt solid #929292;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">28</font></td><td colspan="3" style="border-top:1pt solid #929292;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">188,515</font></td><td colspan="3" style="border-top:1pt solid #929292;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">182,830</font></td><td colspan="3" style="border-top:1pt solid #929292;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">5,524</font></td><td colspan="3" style="border-top:1pt solid #929292;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">160</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">Financial guarantees given</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">28</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">22,503</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">21,513</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">798</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">192</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">Other commitments given</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">28</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">51,215</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">48,948</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">1,828</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">439</font></td></tr><tr><td colspan="3" style="background-color:#5ac4c4;padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#ffffff;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:120%">Total maximum credit exposure</font></td><td colspan="3" style="background-color:#5ac4c4;padding:0 1pt"></td><td colspan="3" style="background-color:#5ac4c4;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#ffffff;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:120%">972,990</font></td><td colspan="3" style="background-color:#5ac4c4;padding:0 1pt"></td><td colspan="3" style="background-color:#5ac4c4;padding:0 1pt"></td><td colspan="3" style="background-color:#5ac4c4;padding:0 1pt"></td></tr></table></div><div style="margin-bottom:10pt;margin-top:10pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:130%">The changes in the three months ended March 31, 2025 and the year ended December 31, 2024 of impaired financial assets (financial assets and guarantees given) are as follows&#58;</font></div><div style="margin-bottom:6pt;margin-top:0.03pt;padding-left:0.56pt;text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.893%"><tr><td style="width:1.0%"></td><td style="width:68.391%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:14.154%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:14.155%"></td><td style="width:0.1%"></td></tr><tr><td colspan="9" style="background-color:#E9E9E9;padding:2px 1pt 2px 1.49pt;text-align:left;text-indent:-0.49pt;vertical-align:middle"><font style="color:#02a5a5;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Changes in impaired financial assets and guarantees given (Millions of Euros)</font></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;text-indent:-0.18pt;vertical-align:middle"><font style="color:#072146;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:120%">March <br>2025</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;text-indent:-0.18pt;vertical-align:middle"><font style="color:#072146;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:120%">December <br>2024</font></td></tr><tr><td colspan="3" style="background-color:#5ac4c4;padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#ffffff;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Balance at the beginning of the period</font></td><td colspan="3" style="background-color:#5ac4c4;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#ffffff;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:120%">14,891</font></td><td colspan="3" style="background-color:#5ac4c4;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#ffffff;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:120%">15,362</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Additions</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">2,861</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">12,255</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Decreases &#8317;&#185;&#8318;</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(1,741)</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(7,346)</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#004481;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Net additions</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#004481;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:120%">1,119</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#004481;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:120%">4,909</font></td></tr><tr><td colspan="3" style="border-top:1pt solid #929292;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Amounts written-off</font></td><td colspan="3" style="border-top:1pt solid #929292;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(1,330)</font></td><td colspan="3" style="border-top:1pt solid #929292;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(4,559)</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Exchange differences and other</font></td><td colspan="3" style="border-top:1pt solid #FFFFFF;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(333)</font></td><td colspan="3" style="border-top:1pt solid #FFFFFF;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(820)</font></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="background-color:#5AC4C4;padding:2px 1pt;text-align:left;vertical-align:middle"><div><font style="color:#ffffff;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Balance at the end of the period</font></div></td><td colspan="3" style="background-color:#5ac4c4;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#ffffff;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:120%">14,348</font></td><td colspan="3" style="background-color:#5ac4c4;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#ffffff;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:120%">14,891</font></td></tr></table><font style="color:#000000;font-family:'Arial',sans-serif;font-size:6pt;font-weight:400;line-height:120%">(1) Reflects the total amount of impaired loans derecognized from the consolidated balance sheet throughout the period as a result of monetary recoveries as well as mortgage foreclosures and real estate assets received in lieu of payment.</font></div><div id="i4a27b892ded141958e799b2ba3298497_181"></div><div style="margin-bottom:10pt;margin-top:10pt;text-align:justify"><font style="color:#004580;font-family:'Arial',sans-serif;font-size:9pt;font-weight:700;line-height:130%">Loss allowances</font></div><div style="margin-bottom:10pt;margin-top:10pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:130%">Below are the changes in the three months ended March 31, 2025, and the year ended December 31, 2024 in the loss allowances recognized on the condensed consolidated balance sheets to cover the estimated impairment or reversal of impairment on loans and advances at amortized cost&#58;</font></div><div style="margin-bottom:10pt;margin-top:10pt;text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.893%"><tr><td style="width:1.0%"></td><td style="width:68.083%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:14.308%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:14.309%"></td><td style="width:0.1%"></td></tr><tr><td colspan="9" style="background-color:#E9E9E9;padding:2px 1pt 2px 1.49pt;text-align:left;text-indent:-0.49pt;vertical-align:middle"><font style="color:#02a5a5;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Changes in loss allowances of loans and advances at amortized cost (Millions of Euros)</font></td></tr><tr><td colspan="3" style="padding:0 1.18pt 0 1pt;text-indent:-0.18pt"></td><td colspan="3" style="padding:2px 1.18pt 2px 1pt;text-align:right;text-indent:-0.18pt;vertical-align:middle"><font style="color:#072146;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:120%">March <br>2025</font></td><td colspan="3" style="padding:2px 1.18pt 2px 1pt;text-align:right;text-indent:-0.18pt;vertical-align:middle"><font style="color:#072146;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:120%">December <br>2024</font></td></tr><tr><td colspan="3" style="background-color:#5AC4C4;padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#ffffff;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Balance at the beginning of the period </font></td><td colspan="3" style="background-color:#5AC4C4;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#ffffff;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:120%">(11,630)</font></td><td colspan="3" style="background-color:#5AC4C4;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#ffffff;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:120%">(11,316)</font></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Increase in loss allowances charged to income</font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(3,156)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(11,646)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 7pt;text-align:left;vertical-align:middle"><font style="color:#929292;font-family:'Arial',sans-serif;font-size:8pt;font-style:italic;font-weight:400;line-height:120%">Stage 1</font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#b6b6b6;font-family:'Arial',sans-serif;font-size:8pt;font-style:italic;font-weight:400;line-height:120%">(608)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#b6b6b6;font-family:'Arial',sans-serif;font-size:8pt;font-style:italic;font-weight:400;line-height:120%">(2,021)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 7pt;text-align:left;vertical-align:middle"><font style="color:#929292;font-family:'Arial',sans-serif;font-size:8pt;font-style:italic;font-weight:400;line-height:120%">Stage 2</font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#b6b6b6;font-family:'Arial',sans-serif;font-size:8pt;font-style:italic;font-weight:400;line-height:120%">(568)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#b6b6b6;font-family:'Arial',sans-serif;font-size:8pt;font-style:italic;font-weight:400;line-height:120%">(1,677)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 7pt;text-align:left;vertical-align:middle"><font style="color:#929292;font-family:'Arial',sans-serif;font-size:8pt;font-style:italic;font-weight:400;line-height:120%">Stage 3</font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#b6b6b6;font-family:'Arial',sans-serif;font-size:8pt;font-style:italic;font-weight:400;line-height:120%">(1,980)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#b6b6b6;font-family:'Arial',sans-serif;font-size:8pt;font-style:italic;font-weight:400;line-height:120%">(7,949)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Decrease in loss allowances charged to income</font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">1,827&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">5,823&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 7pt;text-align:left;vertical-align:middle"><font style="color:#929292;font-family:'Arial',sans-serif;font-size:8pt;font-style:italic;font-weight:400;line-height:120%">Stage 1</font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#b6b6b6;font-family:'Arial',sans-serif;font-size:8pt;font-style:italic;font-weight:400;line-height:120%">479&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#b6b6b6;font-family:'Arial',sans-serif;font-size:8pt;font-style:italic;font-weight:400;line-height:120%">1,362&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 7pt;text-align:left;vertical-align:middle"><font style="color:#929292;font-family:'Arial',sans-serif;font-size:8pt;font-style:italic;font-weight:400;line-height:120%">Stage 2</font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#b6b6b6;font-family:'Arial',sans-serif;font-size:8pt;font-style:italic;font-weight:400;line-height:120%">438&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#b6b6b6;font-family:'Arial',sans-serif;font-size:8pt;font-style:italic;font-weight:400;line-height:120%">1,554&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 7pt;text-align:left;vertical-align:middle"><font style="color:#929292;font-family:'Arial',sans-serif;font-size:8pt;font-style:italic;font-weight:400;line-height:120%">Stage 3</font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#b6b6b6;font-family:'Arial',sans-serif;font-size:8pt;font-style:italic;font-weight:400;line-height:120%">910&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#b6b6b6;font-family:'Arial',sans-serif;font-size:8pt;font-style:italic;font-weight:400;line-height:120%">2,907&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Transfer to written-off loans, exchange differences and other</font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">1,532&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">5,509&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="background-color:#5AC4C4;padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#ffffff;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:120%">&#160;Balance at the end of the period</font></td><td colspan="3" style="background-color:#5AC4C4;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#ffffff;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:120%">(11,427)</font></td><td colspan="3" style="background-color:#5AC4C4;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#ffffff;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:120%">(11,630)</font></td></tr></table></div><div style="height:42.52pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="margin-bottom:10pt;margin-top:10pt;text-align:center"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:130%">F-17</font></div></div></div><hr style="page-break-after:always"><div style="min-height:42.52pt;width:100%"><div style="margin-bottom:6pt;margin-top:0.03pt;padding-left:0.56pt;text-align:justify"><font><br></font></div></div><div style="margin-bottom:10pt;margin-top:10pt;text-align:justify"><font style="color:#004580;font-family:'Arial',sans-serif;font-size:9pt;font-weight:700;line-height:130%">Estimation model and additional adjustments to expected losses measurement </font></div><div style="margin-bottom:10pt;margin-top:10pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:130%">The Group periodically reviews its individual estimates and its models for the collective estimate of expected losses as well as the effect of macroeconomic scenarios on them. Although these updates incorporate the best information available at any given time, they may not fully reflect the most recent developments in the economic environment, especially in contexts of high uncertainty and volatility or very recent events still under development. In this regard, to estimate expected losses, what is described in Note 7 of the 2024 consolidated financial statements on individual and collective estimates of expected losses must be taken into account, as well as macroeconomic estimates and sensitivity to variations in key assumptions of macroeconomic scenarios.</font></div><div style="margin-bottom:10pt;margin-top:10pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:130%">In addition, the Group may supplement the expected losses to account for the effects that may not be included, either by considering additional risk factors, or by the incorporation of sectorial particularities or particularities that may affect a set of operations or borrowers, following a formal internal approval process established for this purpose, including evaluation by the relevant Global Risk Management Committee (GRMC). As of December 31, 2024, the Group had recorded a &#8364;33 million adjustment in Spain, due to the damage caused by the Isolated Depression at High Levels (DANA by its acronym in Spanish) in different Spanish municipalities between October 28 and November 4, 2024. There was no significant variation in the adjustment during the three months ended March 31, 2025.</font></div><div style="height:42.52pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="margin-bottom:10pt;margin-top:10pt;text-align:center"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:130%">F-18</font></div></div></div><div id="i4a27b892ded141958e799b2ba3298497_184"></div><hr style="page-break-after:always"><div style="min-height:42.52pt;width:100%"><div style="margin-bottom:6pt;margin-top:0.03pt;padding-left:0.56pt;text-align:justify"><font><br></font></div></div><div style="margin-bottom:10pt;margin-top:10pt;text-align:justify"><font style="color:#072146;font-family:'Arial',sans-serif;font-size:11pt;font-weight:700;line-height:130%">7.</font><font style="color:#072146;font-family:'Arial',sans-serif;font-size:11pt;font-weight:700;line-height:130%;padding-left:26.84pt">Fair value of financial instruments </font></div><div style="margin-bottom:10pt;margin-top:10pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:130%">The criteria and valuation methods used to calculate the fair value of financial assets as of March 31, 2025 do not differ significantly from those included in Note 8 from the consolidated financial statements for the year ended December 31, 2024.</font></div><div style="margin-bottom:10pt;margin-top:10pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:130%">The techniques and unobservable inputs used for the valuation of the financial instruments classified in the fair value hierarchy as Level 3, do not significantly differ from those detailed in Note 8 of the consolidated financial statements for the year ended December 31, 2024. </font></div><div style="margin-bottom:10pt;margin-top:10pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:130%">The effect on the consolidated income statements and on the consolidated equity, resulting from changing the main assumptions used in the valuation of Level 3 financial instruments for other reasonably possible assumptions, does not differ significantly from that detailed in Note 8 of the consolidated financial statements for the year ended December 31, 2024.</font></div><div style="margin-bottom:10pt;margin-top:10pt;text-align:justify"><font style="color:#004580;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:130%">7.1. Fair value of financial instruments recognized at fair value according to valuation method</font></div><div style="margin-bottom:10pt;margin-top:10pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:130%">The fair value of the Group's financial instruments recognized at fair value from the attached condensed consolidated balance sheets is presented below, broken down according to the valuation method used to determine their fair value, and their respective book value as of March 31, 2025 and December 31, 2024&#58;</font></div><div style="margin-bottom:10pt;margin-top:10pt;text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.893%"><tr><td style="width:1.0%"></td><td style="width:56.064%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:5.063%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:10.456%"></td><td style="width:0.1%"></td><td colspan="3" style="display:none"></td><td style="width:1.0%"></td><td style="width:7.374%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:7.220%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:7.223%"></td><td style="width:0.1%"></td></tr><tr><td colspan="18" style="background-color:#E9E9E9;padding:2px 1pt 2px 1.49pt;text-align:left;text-indent:-0.49pt;vertical-align:middle"><font style="color:#02a5a5;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Fair value of financial instruments recognized at fair value by level. March 2025 (Millions of Euros)</font></td></tr><tr style="height:12pt"><td colspan="3" style="border-left:0.25pt solid #ffffff;padding:0 1pt"></td><td colspan="3" rowspan="2" style="border-left:0.25pt solid #ffffff;padding:2px 1pt;text-align:center;text-indent:-0.18pt;vertical-align:middle"><font style="color:#072146;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Notes</font></td><td colspan="3" rowspan="2" style="padding:2px 1pt;text-align:center;text-indent:-0.18pt;vertical-align:middle"><font style="color:#072146;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Book value</font></td><td colspan="3" style="display:none"></td><td colspan="9" style="padding:2px 1pt;text-align:center;text-indent:-0.18pt;vertical-align:bottom"><font style="color:#072146;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Fair value</font></td></tr><tr style="height:12pt"><td colspan="3" style="border-top:0.25pt solid #ffffff;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="border-top:1pt solid #000;padding:2px 1.18pt 2px 1pt;text-align:right;text-indent:-0.18pt;vertical-align:middle"><font style="color:#072146;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Level 1</font></td><td colspan="3" style="border-top:1pt solid #000;padding:2px 1.18pt 2px 1pt;text-align:right;text-indent:-0.18pt;vertical-align:middle"><font style="color:#072146;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Level 2</font></td><td colspan="3" style="border-top:1pt solid #000;padding:2px 1.18pt 2px 1pt;text-align:right;text-indent:-0.18pt;vertical-align:middle"><font style="color:#072146;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Level 3</font></td></tr><tr><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#004481;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:120%">ASSETS</font></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000;padding:0 1pt"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Financial assets held for trading</font></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">9</font></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">101,716</font></td><td colspan="3" style="display:none"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">24,346</font></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">74,879</font></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">2,491</font></td></tr><tr><td colspan="3" style="background-color:#ffffff;border-top:0.25pt solid #ffffff;padding:2px 1pt 2px 13pt;text-align:left;vertical-align:middle"><font style="color:#929292;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Derivatives</font></td><td colspan="3" style="border-top:0.25pt solid #ffffff;padding:0 1pt"></td><td colspan="3" style="border-top:0.25pt solid #ffffff;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#929292;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">30,099</font></td><td colspan="3" style="display:none"></td><td colspan="3" style="border-top:0.25pt solid #ffffff;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#929292;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">463</font></td><td colspan="3" style="border-top:0.25pt solid #ffffff;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#929292;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">29,293</font></td><td colspan="3" style="border-top:0.25pt solid #ffffff;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#929292;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">342</font></td></tr><tr><td colspan="3" style="background-color:#ffffff;border-top:0.25pt solid #ffffff;padding:2px 1pt 2px 13pt;text-align:left;vertical-align:middle"><font style="color:#929292;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Equity instruments </font></td><td colspan="3" style="border-top:0.25pt solid #ffffff;padding:0 1pt"></td><td colspan="3" style="border-top:0.25pt solid #ffffff;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#929292;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">6,549</font></td><td colspan="3" style="display:none"></td><td colspan="3" style="border-top:0.25pt solid #ffffff;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#929292;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">6,345</font></td><td colspan="3" style="border-top:0.25pt solid #ffffff;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#929292;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">145</font></td><td colspan="3" style="border-top:0.25pt solid #ffffff;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#929292;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">59</font></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 13pt;text-align:left;vertical-align:middle"><font style="color:#929292;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Debt securities </font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#929292;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">24,795</font></td><td colspan="3" style="display:none"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#929292;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">17,537</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#929292;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">6,647</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#929292;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">611</font></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 13pt;text-align:left;vertical-align:middle"><font style="color:#929292;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Loans and advances</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#929292;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">40,274</font></td><td colspan="3" style="display:none"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#929292;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">2</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#929292;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">38,794</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#929292;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">1,478</font></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Non-trading financial assets mandatorily at fair value through profit or loss</font></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">10</font></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">10,570</font></td><td colspan="3" style="display:none"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">8,293</font></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">834</font></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">1,443</font></td></tr><tr><td colspan="3" style="background-color:#ffffff;border-top:0.25pt solid #ffffff;padding:2px 1pt 2px 13pt;text-align:left;vertical-align:middle"><font style="color:#929292;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Equity instruments</font></td><td colspan="3" style="border-top:0.25pt solid #ffffff;padding:0 1pt"></td><td colspan="3" style="border-top:0.25pt solid #ffffff;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#929292;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">9,605</font></td><td colspan="3" style="display:none"></td><td colspan="3" style="border-top:0.25pt solid #ffffff;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#929292;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">7,954</font></td><td colspan="3" style="border-top:0.25pt solid #ffffff;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#929292;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">252</font></td><td colspan="3" style="border-top:0.25pt solid #ffffff;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#929292;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">1,398</font></td></tr><tr><td colspan="3" style="background-color:#ffffff;border-top:0.25pt solid #ffffff;padding:2px 1pt 2px 13pt;text-align:left;vertical-align:middle"><font style="color:#929292;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Debt securities</font></td><td colspan="3" style="border-top:0.25pt solid #ffffff;padding:0 1pt"></td><td colspan="3" style="border-top:0.25pt solid #ffffff;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#929292;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">581</font></td><td colspan="3" style="display:none"></td><td colspan="3" style="border-top:0.25pt solid #ffffff;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#929292;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">339</font></td><td colspan="3" style="border-top:0.25pt solid #ffffff;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#929292;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">209</font></td><td colspan="3" style="border-top:0.25pt solid #ffffff;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#929292;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">33</font></td></tr><tr><td colspan="3" style="background-color:#ffffff;border-top:0.25pt solid #ffffff;padding:2px 1pt 2px 13pt;text-align:left;vertical-align:middle"><font style="color:#929292;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Loans and advances to customers</font></td><td colspan="3" style="border-top:0.25pt solid #ffffff;padding:0 1pt"></td><td colspan="3" style="border-top:0.25pt solid #ffffff;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#929292;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">384</font></td><td colspan="3" style="display:none"></td><td colspan="3" style="border-top:0.25pt solid #ffffff;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#929292;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">&#8212;</font></td><td colspan="3" style="border-top:0.25pt solid #ffffff;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#929292;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">373</font></td><td colspan="3" style="border-top:0.25pt solid #ffffff;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#929292;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">11</font></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Financial assets designated at fair value through profit or loss</font></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">11</font></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">929</font></td><td colspan="3" style="display:none"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">926</font></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">3</font></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">&#8212;</font></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="background-color:#ffffff;border-top:0.25pt solid #ffffff;padding:2px 1pt 2px 13pt;text-align:left;vertical-align:middle"><font style="color:#929292;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Debt securities </font></td><td colspan="3" style="border-top:0.25pt solid #ffffff;padding:0 1pt"></td><td colspan="3" style="border-top:0.25pt solid #ffffff;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#929292;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">929</font></td><td colspan="3" style="display:none"></td><td colspan="3" style="border-top:0.25pt solid #ffffff;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#929292;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">926</font></td><td colspan="3" style="border-top:0.25pt solid #ffffff;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#929292;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">3</font></td><td colspan="3" style="border-top:0.25pt solid #ffffff;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#929292;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">&#8212;</font></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Financial assets at fair value through other comprehensive income</font></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">12</font></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">59,718</font></td><td colspan="3" style="display:none"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">49,763</font></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">8,473</font></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">1,482</font></td></tr><tr><td colspan="3" style="background-color:#ffffff;border-top:0.25pt solid #ffffff;padding:2px 1pt 2px 13pt;text-align:left;vertical-align:middle"><font style="color:#929292;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Equity instruments</font></td><td colspan="3" style="border-top:0.25pt solid #ffffff;padding:0 1pt"></td><td colspan="3" style="border-top:0.25pt solid #ffffff;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#929292;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">1,573</font></td><td colspan="3" style="display:none"></td><td colspan="3" style="border-top:0.25pt solid #ffffff;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#929292;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">1,247</font></td><td colspan="3" style="border-top:0.25pt solid #ffffff;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#929292;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">85</font></td><td colspan="3" style="border-top:0.25pt solid #ffffff;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#929292;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">241</font></td></tr><tr><td colspan="3" style="background-color:#ffffff;border-top:0.25pt solid #ffffff;padding:2px 1pt 2px 13pt;text-align:left;vertical-align:middle"><font style="color:#929292;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Debt securities</font></td><td colspan="3" style="border-top:0.25pt solid #ffffff;padding:0 1pt"></td><td colspan="3" style="border-top:0.25pt solid #ffffff;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#929292;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">58,121</font></td><td colspan="3" style="display:none"></td><td colspan="3" style="border-top:0.25pt solid #ffffff;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#929292;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">48,492</font></td><td colspan="3" style="border-top:0.25pt solid #ffffff;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#929292;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">8,387</font></td><td colspan="3" style="border-top:0.25pt solid #ffffff;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#929292;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">1,242</font></td></tr><tr><td colspan="3" style="background-color:#ffffff;border-top:0.25pt solid #ffffff;padding:2px 1pt 2px 13pt;text-align:left;vertical-align:middle"><font style="color:#929292;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Loans and advances to credit institutions</font></td><td colspan="3" style="border-top:0.25pt solid #ffffff;padding:0 1pt"></td><td colspan="3" style="border-top:0.25pt solid #ffffff;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#929292;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">25</font></td><td colspan="3" style="display:none"></td><td colspan="3" style="border-top:0.25pt solid #ffffff;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#929292;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">25</font></td><td colspan="3" style="border-top:0.25pt solid #ffffff;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#929292;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">&#8212;</font></td><td colspan="3" style="border-top:0.25pt solid #ffffff;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#929292;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">&#8212;</font></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Derivatives &#8211; hedge accounting</font></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">1,068</font></td><td colspan="3" style="display:none"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">&#8212;</font></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">1,064</font></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">5</font></td></tr><tr><td colspan="3" style="background-color:#ffffff;border-left:0.25pt solid #ffffff;border-top:0.25pt solid #ffffff;padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#004481;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:120%">LIABILITIES</font></td><td colspan="3" style="border-left:0.25pt solid #ffffff;border-top:0.25pt solid #ffffff;padding:0 1pt"></td><td colspan="3" style="border-top:0.25pt solid #ffffff;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="border-top:0.25pt solid #ffffff;padding:0 1pt"></td><td colspan="3" style="border-top:0.25pt solid #ffffff;padding:0 1pt"></td><td colspan="3" style="border-top:0.25pt solid #ffffff;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Financial liabilities held for trading </font></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">9</font></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">76,246</font></td><td colspan="3" style="display:none"></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">12,448</font></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">62,510</font></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">1,289</font></td></tr><tr><td colspan="3" style="background-color:#ffffff;border-top:0.25pt solid #ffffff;padding:2px 1pt 2px 13pt;text-align:left;vertical-align:middle"><font style="color:#929292;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Trading derivatives</font></td><td colspan="3" style="border-top:0.25pt solid #ffffff;padding:0 1pt"></td><td colspan="3" style="border-top:0.25pt solid #ffffff;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#929292;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">27,243</font></td><td colspan="3" style="display:none"></td><td colspan="3" style="border-top:0.25pt solid #ffffff;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#929292;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">795</font></td><td colspan="3" style="border-top:0.25pt solid #ffffff;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#929292;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">25,647</font></td><td colspan="3" style="border-top:0.25pt solid #ffffff;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#929292;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">801</font></td></tr><tr><td colspan="3" style="background-color:#ffffff;border-top:0.25pt solid #ffffff;padding:2px 1pt 2px 13pt;text-align:left;vertical-align:middle"><font style="color:#929292;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Short positions</font></td><td colspan="3" style="border-top:0.25pt solid #ffffff;padding:0 1pt"></td><td colspan="3" style="border-top:0.25pt solid #ffffff;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#929292;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">11,677</font></td><td colspan="3" style="display:none"></td><td colspan="3" style="border-top:0.25pt solid #ffffff;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#929292;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">11,652</font></td><td colspan="3" style="border-top:0.25pt solid #ffffff;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#929292;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">19</font></td><td colspan="3" style="border-top:0.25pt solid #ffffff;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#929292;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">6</font></td></tr><tr><td colspan="3" style="background-color:#ffffff;border-top:0.25pt solid #ffffff;padding:2px 1pt 2px 13pt;text-align:left;vertical-align:middle"><font style="color:#929292;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Deposits</font></td><td colspan="3" style="border-top:0.25pt solid #ffffff;padding:0 1pt"></td><td colspan="3" style="border-top:0.25pt solid #ffffff;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#929292;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">37,326</font></td><td colspan="3" style="display:none"></td><td colspan="3" style="border-top:0.25pt solid #ffffff;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#929292;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">&#8212;</font></td><td colspan="3" style="border-top:0.25pt solid #ffffff;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#929292;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">36,844</font></td><td colspan="3" style="border-top:0.25pt solid #ffffff;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#929292;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">482</font></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Financial liabilities designated at fair value through profit or loss</font></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">11</font></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">15,309</font></td><td colspan="3" style="display:none"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">&#8212;</font></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">13,392</font></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">1,916</font></td></tr><tr><td colspan="3" style="background-color:#ffffff;border-top:0.25pt solid #ffffff;padding:2px 1pt 2px 13pt;text-align:left;vertical-align:middle"><font style="color:#929292;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Deposits from credit institutions</font></td><td colspan="3" style="border-top:0.25pt solid #ffffff;padding:0 1pt"></td><td colspan="3" style="border-top:0.25pt solid #ffffff;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#929292;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">&#8212;</font></td><td colspan="3" style="display:none"></td><td colspan="3" style="border-top:0.25pt solid #ffffff;padding:0 1pt"></td><td colspan="3" style="border-top:0.25pt solid #ffffff;padding:0 1pt"></td><td colspan="3" style="border-top:0.25pt solid #ffffff;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#ffffff;border-top:0.25pt solid #ffffff;padding:2px 1pt 2px 13pt;text-align:left;vertical-align:middle"><font style="color:#929292;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Customer deposits</font></td><td colspan="3" style="border-top:0.25pt solid #ffffff;padding:0 1pt"></td><td colspan="3" style="border-top:0.25pt solid #ffffff;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#929292;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">905</font></td><td colspan="3" style="display:none"></td><td colspan="3" style="border-top:0.25pt solid #ffffff;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#929292;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">&#8212;</font></td><td colspan="3" style="border-top:0.25pt solid #ffffff;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#929292;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">905</font></td><td colspan="3" style="border-top:0.25pt solid #ffffff;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#929292;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">&#8212;</font></td></tr><tr><td colspan="3" style="background-color:#ffffff;border-top:0.25pt solid #ffffff;padding:2px 1pt 2px 13pt;text-align:left;vertical-align:middle"><font style="color:#929292;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Debt securities issued</font></td><td colspan="3" style="border-top:0.25pt solid #ffffff;padding:0 1pt"></td><td colspan="3" style="border-top:0.25pt solid #ffffff;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#929292;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">4,569</font></td><td colspan="3" style="display:none"></td><td colspan="3" style="border-top:0.25pt solid #ffffff;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#929292;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">&#8212;</font></td><td colspan="3" style="border-top:0.25pt solid #ffffff;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#929292;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">2,653</font></td><td colspan="3" style="border-top:0.25pt solid #ffffff;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#929292;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">1,916</font></td></tr><tr><td colspan="3" style="background-color:#ffffff;border-top:0.25pt solid #ffffff;padding:2px 1pt 2px 13pt;text-align:left;vertical-align:middle"><font style="color:#929292;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Other financial liabilities</font></td><td colspan="3" style="border-top:0.25pt solid #ffffff;padding:0 1pt"></td><td colspan="3" style="border-top:0.25pt solid #ffffff;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#929292;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">9,834</font></td><td colspan="3" style="display:none"></td><td colspan="3" style="border-top:0.25pt solid #ffffff;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#929292;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">&#8212;</font></td><td colspan="3" style="border-top:0.25pt solid #ffffff;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#929292;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">9,834</font></td><td colspan="3" style="border-top:0.25pt solid #ffffff;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#929292;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">&#8212;</font></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="background-color:#ffffff;border-bottom:0.25pt solid #ffffff;padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Derivatives &#8211; hedge accounting</font></td><td colspan="3" style="background-color:#ffffff;border-bottom:0.25pt solid #ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-bottom:0.25pt solid #ffffff;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">2,157</font></td><td colspan="3" style="display:none"></td><td colspan="3" style="background-color:#ffffff;border-bottom:0.25pt solid #ffffff;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">&#8212;</font></td><td colspan="3" style="background-color:#ffffff;border-bottom:0.25pt solid #ffffff;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">2,132</font></td><td colspan="3" style="background-color:#ffffff;border-bottom:0.25pt solid #ffffff;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">25</font></td></tr></table></div><div style="height:42.52pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="margin-bottom:10pt;margin-top:10pt;text-align:center"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:130%">F-19</font></div></div></div><hr style="page-break-after:always"><div style="min-height:42.52pt;width:100%"><div style="margin-bottom:6pt;margin-top:0.03pt;padding-left:0.56pt;text-align:justify"><font><br></font></div></div><div style="margin-bottom:10pt;margin-top:10pt;text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.893%"><tr><td style="width:1.0%"></td><td style="width:56.064%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:5.063%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:10.148%"></td><td style="width:0.1%"></td><td colspan="3" style="display:none"></td><td style="width:1.0%"></td><td style="width:7.374%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:7.374%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:7.377%"></td><td style="width:0.1%"></td></tr><tr><td colspan="18" style="background-color:#E9E9E9;padding:2px 1pt 2px 1.49pt;text-align:left;text-indent:-0.49pt;vertical-align:middle"><font style="color:#02a5a5;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Fair value of financial Instruments recognized at fair value by level. December 2024 (Millions of Euros)</font></td></tr><tr style="height:12pt"><td colspan="3" style="border-left:0.25pt solid #ffffff;padding:0 1pt"></td><td colspan="3" rowspan="2" style="padding:2px 1pt;text-align:center;text-indent:-0.18pt;vertical-align:middle"><font style="color:#072146;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Notes</font></td><td colspan="3" rowspan="2" style="padding:2px 1pt;text-align:center;text-indent:-0.18pt;vertical-align:middle"><font style="color:#072146;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Book value</font></td><td colspan="3" style="display:none"></td><td colspan="9" style="padding:2px 1pt;text-align:center;text-indent:-0.18pt;vertical-align:bottom"><font style="color:#072146;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Fair value</font></td></tr><tr style="height:12pt"><td colspan="3" style="border-top:0.25pt solid #ffffff;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="border-top:1pt solid #000;padding:2px 1.18pt 2px 1pt;text-align:right;text-indent:-0.18pt;vertical-align:middle"><font style="color:#072146;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Level 1</font></td><td colspan="3" style="border-top:1pt solid #000;padding:2px 1.18pt 2px 1pt;text-align:right;text-indent:-0.18pt;vertical-align:middle"><font style="color:#072146;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Level 2</font></td><td colspan="3" style="border-top:1pt solid #000;padding:2px 1.18pt 2px 1pt;text-align:right;text-indent:-0.18pt;vertical-align:middle"><font style="color:#072146;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Level 3</font></td></tr><tr><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#004481;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:120%">ASSETS</font></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000;padding:0 1pt"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Financial assets held for trading</font></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">9</font></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">108,948</font></td><td colspan="3" style="display:none"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">26,332</font></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">80,323</font></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">2,292</font></td></tr><tr><td colspan="3" style="background-color:#ffffff;border-top:0.25pt solid #ffffff;padding:2px 1pt 2px 13pt;text-align:left;vertical-align:middle"><font style="color:#929292;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Derivatives</font></td><td colspan="3" style="border-top:0.25pt solid #ffffff;padding:0 1pt"></td><td colspan="3" style="border-top:0.25pt solid #ffffff;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#929292;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">36,003</font></td><td colspan="3" style="display:none"></td><td colspan="3" style="border-top:0.25pt solid #ffffff;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#929292;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">969</font></td><td colspan="3" style="border-top:0.25pt solid #ffffff;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#929292;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">34,591</font></td><td colspan="3" style="border-top:0.25pt solid #ffffff;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#929292;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">443</font></td></tr><tr><td colspan="3" style="background-color:#ffffff;border-top:0.25pt solid #ffffff;padding:2px 1pt 2px 13pt;text-align:left;vertical-align:middle"><font style="color:#929292;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Equity instruments </font></td><td colspan="3" style="border-top:0.25pt solid #ffffff;padding:0 1pt"></td><td colspan="3" style="border-top:0.25pt solid #ffffff;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#929292;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">6,760</font></td><td colspan="3" style="display:none"></td><td colspan="3" style="border-top:0.25pt solid #ffffff;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#929292;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">6,602</font></td><td colspan="3" style="border-top:0.25pt solid #ffffff;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#929292;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">76</font></td><td colspan="3" style="border-top:0.25pt solid #ffffff;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#929292;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">83</font></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 13pt;text-align:left;vertical-align:middle"><font style="color:#929292;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Debt securities </font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#929292;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">27,955</font></td><td colspan="3" style="display:none"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#929292;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">18,762</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#929292;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">8,438</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#929292;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">756</font></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 13pt;text-align:left;vertical-align:middle"><font style="color:#929292;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Loans and advances</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#929292;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">38,230</font></td><td colspan="3" style="display:none"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#929292;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">&#8212;</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#929292;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">37,218</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#929292;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">1,011</font></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Non-trading financial assets mandatorily at fair value through profit or loss</font></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">10</font></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">10,546</font></td><td colspan="3" style="display:none"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">8,511</font></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">617</font></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">1,418</font></td></tr><tr><td colspan="3" style="background-color:#ffffff;border-top:0.25pt solid #ffffff;padding:2px 1pt 2px 13pt;text-align:left;vertical-align:middle"><font style="color:#929292;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Equity instruments</font></td><td colspan="3" style="border-top:0.25pt solid #ffffff;padding:0 1pt"></td><td colspan="3" style="border-top:0.25pt solid #ffffff;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#929292;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">9,782</font></td><td colspan="3" style="display:none"></td><td colspan="3" style="border-top:0.25pt solid #ffffff;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#929292;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">8,309</font></td><td colspan="3" style="border-top:0.25pt solid #ffffff;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#929292;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">107</font></td><td colspan="3" style="border-top:0.25pt solid #ffffff;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#929292;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">1,365</font></td></tr><tr><td colspan="3" style="background-color:#ffffff;border-top:0.25pt solid #ffffff;padding:2px 1pt 2px 13pt;text-align:left;vertical-align:middle"><font style="color:#929292;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Debt securities </font></td><td colspan="3" style="border-top:0.25pt solid #ffffff;padding:0 1pt"></td><td colspan="3" style="border-top:0.25pt solid #ffffff;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#929292;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">407</font></td><td colspan="3" style="display:none"></td><td colspan="3" style="border-top:0.25pt solid #ffffff;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#929292;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">202</font></td><td colspan="3" style="border-top:0.25pt solid #ffffff;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#929292;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">173</font></td><td colspan="3" style="border-top:0.25pt solid #ffffff;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#929292;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">31</font></td></tr><tr><td colspan="3" style="background-color:#ffffff;border-top:0.25pt solid #ffffff;padding:2px 1pt 2px 13pt;text-align:left;vertical-align:middle"><font style="color:#929292;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Loans and advances to customers</font></td><td colspan="3" style="border-top:0.25pt solid #ffffff;padding:0 1pt"></td><td colspan="3" style="border-top:0.25pt solid #ffffff;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#929292;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">358</font></td><td colspan="3" style="display:none"></td><td colspan="3" style="border-top:0.25pt solid #ffffff;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#929292;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">&#8212;</font></td><td colspan="3" style="border-top:0.25pt solid #ffffff;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#929292;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">336</font></td><td colspan="3" style="border-top:0.25pt solid #ffffff;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#929292;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">21</font></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Financial assets designated at fair value through profit or loss</font></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">11</font></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">836</font></td><td colspan="3" style="display:none"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">774</font></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">62</font></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">&#8212;</font></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="background-color:#ffffff;border-top:0.25pt solid #ffffff;padding:2px 1pt 2px 13pt;text-align:left;vertical-align:middle"><font style="color:#929292;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Debt securities </font></td><td colspan="3" style="border-top:0.25pt solid #ffffff;padding:0 1pt"></td><td colspan="3" style="border-top:0.25pt solid #ffffff;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#929292;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">836</font></td><td colspan="3" style="display:none"></td><td colspan="3" style="border-top:0.25pt solid #ffffff;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#929292;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">774</font></td><td colspan="3" style="border-top:0.25pt solid #ffffff;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#929292;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">62</font></td><td colspan="3" style="border-top:0.25pt solid #ffffff;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#929292;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">&#8212;</font></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="background-color:#ffffff;border-top:0.25pt solid #ffffff;padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Financial assets at fair value through other comprehensive income</font></td><td colspan="3" style="background-color:#ffffff;border-top:0.25pt solid #ffffff;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">12</font></td><td colspan="3" style="background-color:#ffffff;border-top:0.25pt solid #ffffff;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">59,002</font></td><td colspan="3" style="display:none"></td><td colspan="3" style="background-color:#ffffff;border-top:0.25pt solid #ffffff;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">50,354</font></td><td colspan="3" style="background-color:#ffffff;border-top:0.25pt solid #ffffff;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">7,515</font></td><td colspan="3" style="background-color:#ffffff;border-top:0.25pt solid #ffffff;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">1,133</font></td></tr><tr><td colspan="3" style="background-color:#ffffff;border-top:0.25pt solid #ffffff;padding:2px 1pt 2px 13pt;text-align:left;vertical-align:middle"><font style="color:#929292;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Equity instruments</font></td><td colspan="3" style="border-top:0.25pt solid #ffffff;padding:0 1pt"></td><td colspan="3" style="border-top:0.25pt solid #ffffff;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#929292;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">1,451</font></td><td colspan="3" style="display:none"></td><td colspan="3" style="border-top:0.25pt solid #ffffff;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#929292;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">1,157</font></td><td colspan="3" style="border-top:0.25pt solid #ffffff;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#929292;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">79</font></td><td colspan="3" style="border-top:0.25pt solid #ffffff;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#929292;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">216</font></td></tr><tr><td colspan="3" style="background-color:#ffffff;border-top:0.25pt solid #ffffff;padding:2px 1pt 2px 13pt;text-align:left;vertical-align:middle"><font style="color:#929292;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Debt securities </font></td><td colspan="3" style="border-top:0.25pt solid #ffffff;padding:0 1pt"></td><td colspan="3" style="border-top:0.25pt solid #ffffff;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#929292;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">57,526</font></td><td colspan="3" style="display:none"></td><td colspan="3" style="border-top:0.25pt solid #ffffff;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#929292;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">49,173</font></td><td colspan="3" style="border-top:0.25pt solid #ffffff;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#929292;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">7,436</font></td><td colspan="3" style="border-top:0.25pt solid #ffffff;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#929292;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">917</font></td></tr><tr><td colspan="3" style="background-color:#ffffff;border-top:0.25pt solid #ffffff;padding:2px 1pt 2px 13pt;text-align:left;vertical-align:middle"><font style="color:#929292;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Loans and advances to credit institutions</font></td><td colspan="3" style="border-top:0.25pt solid #ffffff;padding:0 1pt"></td><td colspan="3" style="border-top:0.25pt solid #ffffff;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#929292;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">25</font></td><td colspan="3" style="display:none"></td><td colspan="3" style="border-top:0.25pt solid #ffffff;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#929292;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">25</font></td><td colspan="3" style="border-top:0.25pt solid #ffffff;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#929292;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">&#8212;</font></td><td colspan="3" style="border-top:0.25pt solid #ffffff;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#929292;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">&#8212;</font></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Derivatives &#8211; hedge accounting</font></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">1,158</font></td><td colspan="3" style="display:none"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">&#8212;</font></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">1,158</font></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">&#8212;</font></td></tr><tr><td colspan="3" style="background-color:#ffffff;border-left:0.25pt solid #ffffff;border-top:0.25pt solid #ffffff;padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#004481;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:120%">LIABILITIES</font></td><td colspan="3" style="border-left:0.25pt solid #ffffff;border-top:0.25pt solid #ffffff;padding:0 1pt"></td><td colspan="3" style="border-top:0.25pt solid #ffffff;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="border-top:0.25pt solid #ffffff;padding:0 1pt"></td><td colspan="3" style="border-top:0.25pt solid #ffffff;padding:0 1pt"></td><td colspan="3" style="border-top:0.25pt solid #ffffff;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Financial liabilities held for trading </font></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">9</font></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">86,591</font></td><td colspan="3" style="display:none"></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">14,308</font></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">71,072</font></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">1,211</font></td></tr><tr><td colspan="3" style="background-color:#ffffff;border-top:0.25pt solid #ffffff;padding:2px 1pt 2px 13pt;text-align:left;vertical-align:middle"><font style="color:#929292;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Trading derivatives</font></td><td colspan="3" style="border-top:0.25pt solid #ffffff;padding:0 1pt"></td><td colspan="3" style="border-top:0.25pt solid #ffffff;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#929292;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">33,059</font></td><td colspan="3" style="display:none"></td><td colspan="3" style="border-top:0.25pt solid #ffffff;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#929292;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">1,118</font></td><td colspan="3" style="border-top:0.25pt solid #ffffff;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#929292;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">31,400</font></td><td colspan="3" style="border-top:0.25pt solid #ffffff;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#929292;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">541</font></td></tr><tr><td colspan="3" style="background-color:#ffffff;border-top:0.25pt solid #ffffff;padding:2px 1pt 2px 13pt;text-align:left;vertical-align:middle"><font style="color:#929292;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Short positions</font></td><td colspan="3" style="border-top:0.25pt solid #ffffff;padding:0 1pt"></td><td colspan="3" style="border-top:0.25pt solid #ffffff;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#929292;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">13,878</font></td><td colspan="3" style="display:none"></td><td colspan="3" style="border-top:0.25pt solid #ffffff;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#929292;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">13,189</font></td><td colspan="3" style="border-top:0.25pt solid #ffffff;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#929292;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">673</font></td><td colspan="3" style="border-top:0.25pt solid #ffffff;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#929292;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">15</font></td></tr><tr><td colspan="3" style="background-color:#ffffff;border-top:0.25pt solid #ffffff;padding:2px 1pt 2px 13pt;text-align:left;vertical-align:middle"><font style="color:#929292;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Deposits</font></td><td colspan="3" style="border-top:0.25pt solid #ffffff;padding:0 1pt"></td><td colspan="3" style="border-top:0.25pt solid #ffffff;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#929292;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">39,654</font></td><td colspan="3" style="display:none"></td><td colspan="3" style="border-top:0.25pt solid #ffffff;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#929292;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">&#8212;</font></td><td colspan="3" style="border-top:0.25pt solid #ffffff;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#929292;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">38,999</font></td><td colspan="3" style="border-top:0.25pt solid #ffffff;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#929292;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">656</font></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Financial liabilities designated at fair value through profit or loss</font></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">11</font></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">14,952</font></td><td colspan="3" style="display:none"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">&#8212;</font></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">12,865</font></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">2,087</font></td></tr><tr><td colspan="3" style="background-color:#ffffff;border-top:0.25pt solid #ffffff;padding:2px 1pt 2px 13pt;text-align:left;vertical-align:middle"><font style="color:#929292;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Deposits from credit institutions</font></td><td colspan="3" style="border-top:0.25pt solid #ffffff;padding:0 1pt"></td><td colspan="3" style="border-top:0.25pt solid #ffffff;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#929292;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">&#8212;</font></td><td colspan="3" style="display:none"></td><td colspan="3" style="border-top:0.25pt solid #ffffff;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#929292;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">&#8212;</font></td><td colspan="3" style="border-top:0.25pt solid #ffffff;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#929292;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">&#8212;</font></td><td colspan="3" style="border-top:0.25pt solid #ffffff;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#929292;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">&#8212;</font></td></tr><tr><td colspan="3" style="background-color:#ffffff;border-top:0.25pt solid #ffffff;padding:2px 1pt 2px 13pt;text-align:left;vertical-align:middle"><font style="color:#929292;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Customer deposits</font></td><td colspan="3" style="border-top:0.25pt solid #ffffff;padding:0 1pt"></td><td colspan="3" style="border-top:0.25pt solid #ffffff;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#929292;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">934</font></td><td colspan="3" style="display:none"></td><td colspan="3" style="border-top:0.25pt solid #ffffff;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#929292;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">&#8212;</font></td><td colspan="3" style="border-top:0.25pt solid #ffffff;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#929292;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">934</font></td><td colspan="3" style="border-top:0.25pt solid #ffffff;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#929292;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">&#8212;</font></td></tr><tr><td colspan="3" style="background-color:#ffffff;border-top:0.25pt solid #ffffff;padding:2px 1pt 2px 13pt;text-align:left;vertical-align:middle"><font style="color:#929292;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Debt securities issued</font></td><td colspan="3" style="border-top:0.25pt solid #ffffff;padding:0 1pt"></td><td colspan="3" style="border-top:0.25pt solid #ffffff;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#929292;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">4,597</font></td><td colspan="3" style="display:none"></td><td colspan="3" style="border-top:0.25pt solid #ffffff;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#929292;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">&#8212;</font></td><td colspan="3" style="border-top:0.25pt solid #ffffff;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#929292;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">2,511</font></td><td colspan="3" style="border-top:0.25pt solid #ffffff;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#929292;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">2,087</font></td></tr><tr><td colspan="3" style="background-color:#ffffff;border-top:0.25pt solid #ffffff;padding:2px 1pt 2px 13pt;text-align:left;vertical-align:middle"><font style="color:#929292;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Other financial liabilities</font></td><td colspan="3" style="border-top:0.25pt solid #ffffff;padding:0 1pt"></td><td colspan="3" style="border-top:0.25pt solid #ffffff;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#929292;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">9,420</font></td><td colspan="3" style="display:none"></td><td colspan="3" style="border-top:0.25pt solid #ffffff;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#929292;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">&#8212;</font></td><td colspan="3" style="border-top:0.25pt solid #ffffff;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#929292;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">9,420</font></td><td colspan="3" style="border-top:0.25pt solid #ffffff;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#929292;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">&#8212;</font></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="background-color:#ffffff;border-bottom:0.25pt solid #ffffff;padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Derivatives &#8211; hedge accounting</font></td><td colspan="3" style="background-color:#ffffff;border-bottom:0.25pt solid #ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-bottom:0.25pt solid #ffffff;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">2,503</font></td><td colspan="3" style="display:none"></td><td colspan="3" style="background-color:#ffffff;border-bottom:0.25pt solid #ffffff;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">&#8212;</font></td><td colspan="3" style="background-color:#ffffff;border-bottom:0.25pt solid #ffffff;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">2,480</font></td><td colspan="3" style="background-color:#ffffff;border-bottom:0.25pt solid #ffffff;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">23</font></td></tr></table></div><div style="margin-bottom:10pt;margin-top:25pt;text-align:justify"><font style="color:#004580;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:130%">7.2 Fair value of financial instruments recognized at amortized cost according to valuation method</font></div><div style="margin-bottom:10pt;margin-top:10pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:130%">Below is shown the fair value of the Group's financial instruments from the attached condensed consolidated balance sheets recognized at amortized cost, broken down according to the valuation method used to determine their fair value, and their respective book value as of March 31, 2025 and December 31, 2024&#58;</font></div><div style="margin-bottom:10pt;margin-top:10pt;text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.893%"><tr><td style="width:1.0%"></td><td style="width:34.493%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:5.217%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:11.842%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:8.915%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:7.682%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:7.682%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:7.682%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:7.687%"></td><td style="width:0.1%"></td></tr><tr><td colspan="24" style="background-color:#E9E9E9;padding:2px 1pt 2px 1.49pt;text-align:left;text-indent:-0.49pt;vertical-align:middle"><font style="color:#02a5a5;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Fair value of financial instruments recognized at amortized cost by level. March 2025 (Millions of Euros)</font></td></tr><tr style="height:12pt"><td colspan="3" style="border-left:0.25pt solid #ffffff;padding:0 1pt 0 1.18pt;text-indent:-0.18pt"></td><td colspan="3" rowspan="2" style="padding:2px 1pt;text-align:center;text-indent:-0.18pt;vertical-align:middle"><font style="color:#072146;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Notes</font></td><td colspan="3" rowspan="2" style="padding:2px 1pt;text-align:center;text-indent:-0.18pt;vertical-align:middle"><font style="color:#072146;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Book value</font></td><td colspan="15" style="padding:2px 1pt;text-align:center;text-indent:-0.18pt;vertical-align:middle"><font style="color:#072146;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Fair value</font></td></tr><tr style="height:50pt"><td colspan="3" style="border-top:0.25pt solid #ffffff;padding:0 1pt 0 1.18pt;text-indent:-0.18pt"></td><td colspan="3" style="border-top:1pt solid #000;padding:2px 1.18pt 2px 1pt;text-align:right;text-indent:-0.18pt;vertical-align:middle"><font style="color:#072146;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Carrying amount presented as fair value &#8317;&#185;&#8318;</font></td><td colspan="3" style="border-top:1pt solid #000;padding:2px 1.18pt 2px 1pt;text-align:right;text-indent:-0.18pt;vertical-align:middle"><font style="color:#072146;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Level 1</font></td><td colspan="3" style="border-top:1pt solid #000;padding:2px 1.18pt 2px 1pt;text-align:right;text-indent:-0.18pt;vertical-align:middle"><font style="color:#072146;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Level 2</font></td><td colspan="3" style="border-top:1pt solid #000;padding:2px 1.18pt 2px 1pt;text-align:right;text-indent:-0.18pt;vertical-align:middle"><font style="color:#072146;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Level 3</font></td><td colspan="3" style="border-top:1pt solid #000;padding:2px 1.18pt 2px 1pt;text-align:right;text-indent:-0.18pt;vertical-align:middle"><font style="color:#072146;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Total</font></td></tr><tr><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#004481;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:120%">ASSETS</font></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Cash, cash balances at central banks and other demand deposits</font></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">8</font></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">50,406</font></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">50,406</font></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">&#8212;</font></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">&#8212;</font></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">&#8212;</font></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">50,406</font></td></tr><tr><td colspan="3" style="background-color:#ffffff;border-top:0.25pt solid #ffffff;padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Financial assets at amortized cost</font></td><td colspan="3" style="background-color:#ffffff;border-top:0.25pt solid #ffffff;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">13</font></td><td colspan="3" style="background-color:#ffffff;border-top:0.25pt solid #ffffff;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">512,434</font></td><td colspan="3" style="background-color:#ffffff;border-top:0.25pt solid #ffffff;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">35,054</font></td><td colspan="3" style="background-color:#ffffff;border-top:0.25pt solid #ffffff;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">55,622</font></td><td colspan="3" style="background-color:#ffffff;border-top:0.25pt solid #ffffff;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">24,112</font></td><td colspan="3" style="background-color:#ffffff;border-top:0.25pt solid #ffffff;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">395,608</font></td><td colspan="3" style="background-color:#ffffff;border-top:0.25pt solid #ffffff;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">510,397</font></td></tr><tr><td colspan="3" style="background-color:#ffffff;border-top:0.25pt solid #ffffff;padding:2px 1pt 2px 13pt;text-align:left;vertical-align:middle"><font style="color:#929292;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Debt securities</font></td><td colspan="3" style="border-top:0.25pt solid #ffffff;padding:0 1pt"></td><td colspan="3" style="border-top:0.25pt solid #ffffff;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#929292;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">62,972</font></td><td colspan="3" style="border-top:0.25pt solid #ffffff;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#929292;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">&#8212;</font></td><td colspan="3" style="border-top:0.25pt solid #ffffff;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#929292;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">55,622</font></td><td colspan="3" style="border-top:0.25pt solid #ffffff;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#929292;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">5,784</font></td><td colspan="3" style="border-top:0.25pt solid #ffffff;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#929292;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">832</font></td><td colspan="3" style="border-top:0.25pt solid #ffffff;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#929292;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">62,239</font></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="background-color:#ffffff;border-top:0.25pt solid #ffffff;padding:2px 1pt 2px 13pt;text-align:left;vertical-align:middle"><font style="color:#929292;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Loans and advances</font></td><td colspan="3" style="border-top:0.25pt solid #ffffff;padding:0 1pt"></td><td colspan="3" style="border-top:0.25pt solid #ffffff;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#929292;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">449,462</font></td><td colspan="3" style="border-top:0.25pt solid #ffffff;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#929292;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">35,054</font></td><td colspan="3" style="border-top:0.25pt solid #ffffff;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#929292;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">&#8212;</font></td><td colspan="3" style="border-top:0.25pt solid #ffffff;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#929292;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">18,328</font></td><td colspan="3" style="border-top:0.25pt solid #ffffff;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#929292;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">394,776</font></td><td colspan="3" style="border-top:0.25pt solid #ffffff;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#929292;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">448,158</font></td></tr><tr><td colspan="3" style="background-color:#ffffff;border-left:0.25pt solid #ffffff;border-top:0.25pt solid #ffffff;padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#004481;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:120%">LIABILITIES</font></td><td colspan="3" style="border-left:0.25pt solid #ffffff;border-top:0.25pt solid #ffffff;padding:0 1pt"></td><td colspan="3" style="border-top:0.25pt solid #ffffff;padding:0 1pt"></td><td colspan="3" style="border-top:0.25pt solid #ffffff;padding:0 1pt"></td><td colspan="3" style="border-top:0.25pt solid #ffffff;padding:0 1pt"></td><td colspan="3" style="border-top:0.25pt solid #ffffff;padding:0 1pt"></td><td colspan="3" style="border-top:0.25pt solid #ffffff;padding:0 1pt"></td><td colspan="3" style="border-top:0.25pt solid #ffffff;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Financial liabilities at amortized cost </font></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">20</font></td><td colspan="3" style="border-top:1pt solid #000;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">594,752</font></td><td colspan="3" style="border-top:1pt solid #000;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">382,058</font></td><td colspan="3" style="border-top:1pt solid #000;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">45,401</font></td><td colspan="3" style="border-top:1pt solid #000;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">64,520</font></td><td colspan="3" style="border-top:1pt solid #000;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">102,984</font></td><td colspan="3" style="border-top:1pt solid #000;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">594,962</font></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="background-color:#ffffff;border-top:0.25pt solid #ffffff;padding:2px 1pt 2px 13pt;text-align:left;vertical-align:middle"><font style="color:#929292;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Deposits</font></td><td colspan="3" style="border-top:0.25pt solid #ffffff;padding:0 1pt"></td><td colspan="3" style="border-top:0.25pt solid #ffffff;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#929292;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">503,163</font></td><td colspan="3" style="border-top:0.25pt solid #ffffff;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#929292;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">362,456</font></td><td colspan="3" style="border-top:0.25pt solid #ffffff;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#929292;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">&#8212;</font></td><td colspan="3" style="border-top:0.25pt solid #ffffff;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#929292;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">41,781</font></td><td colspan="3" style="border-top:0.25pt solid #ffffff;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#929292;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">98,473</font></td><td colspan="3" style="border-top:0.25pt solid #ffffff;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#929292;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">502,711</font></td></tr><tr><td colspan="3" style="background-color:#ffffff;border-top:0.25pt solid #ffffff;padding:2px 1pt 2px 13pt;text-align:left;vertical-align:middle"><font style="color:#929292;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Debt securities issued</font></td><td colspan="3" style="border-top:0.25pt solid #ffffff;padding:0 1pt"></td><td colspan="3" style="border-top:0.25pt solid #ffffff;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#929292;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">71,987</font></td><td colspan="3" style="border-top:0.25pt solid #ffffff;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#929292;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">&#8212;</font></td><td colspan="3" style="border-top:0.25pt solid #ffffff;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#929292;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">45,401</font></td><td colspan="3" style="border-top:0.25pt solid #ffffff;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#929292;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">22,738</font></td><td colspan="3" style="border-top:0.25pt solid #ffffff;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#929292;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">4,511</font></td><td colspan="3" style="border-top:0.25pt solid #ffffff;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#929292;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">72,650</font></td></tr><tr><td colspan="3" style="background-color:#ffffff;border-top:0.25pt solid #ffffff;padding:2px 1pt 2px 13pt;text-align:left;vertical-align:middle"><font style="color:#929292;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Other financial liabilities</font></td><td colspan="3" style="border-top:0.25pt solid #ffffff;padding:0 1pt"></td><td colspan="3" style="border-top:0.25pt solid #ffffff;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#929292;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">19,601</font></td><td colspan="3" style="border-top:0.25pt solid #ffffff;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#929292;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">19,601</font></td><td colspan="3" style="border-top:0.25pt solid #ffffff;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#929292;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">&#8212;</font></td><td colspan="3" style="border-top:0.25pt solid #ffffff;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#929292;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">&#8212;</font></td><td colspan="3" style="border-top:0.25pt solid #ffffff;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#929292;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">&#8212;</font></td><td colspan="3" style="border-top:0.25pt solid #ffffff;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#929292;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">19,601</font></td></tr></table></div><div style="padding-left:0.56pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:6pt;font-weight:400;line-height:130%">(1) Financial instruments whose book value is presented as an approximation to their fair value, mainly short-term financial instruments.</font></div><div style="padding-left:0.56pt;text-align:justify"><font><br></font></div><div style="height:42.52pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="margin-bottom:10pt;margin-top:10pt;text-align:center"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:130%">F-20</font></div></div></div><hr style="page-break-after:always"><div style="min-height:42.52pt;width:100%"><div style="margin-bottom:6pt;margin-top:0.03pt;padding-left:0.56pt;text-align:justify"><font><br></font></div></div><div style="margin-bottom:10pt;margin-top:10pt;text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.893%"><tr><td style="width:1.0%"></td><td style="width:34.493%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:5.063%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:11.842%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.069%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:7.682%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:7.682%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:7.682%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:7.687%"></td><td style="width:0.1%"></td></tr><tr><td colspan="24" style="background-color:#E9E9E9;padding:2px 1pt 2px 1.49pt;text-align:left;text-indent:-0.49pt;vertical-align:middle"><font style="color:#02a5a5;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Fair value of financial Instruments recognized at amortized cost by level. December 2024 (Millions of Euros)</font></td></tr><tr style="height:12pt"><td colspan="3" style="border-left:0.25pt solid #ffffff;padding:0 1pt 0 1.18pt;text-indent:-0.18pt"></td><td colspan="3" rowspan="2" style="border-left:0.25pt solid #ffffff;padding:2px 1pt;text-align:center;text-indent:-0.18pt;vertical-align:middle"><font style="color:#072146;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Notes</font></td><td colspan="3" rowspan="2" style="border-left:0.25pt solid #ffffff;padding:2px 1pt;text-align:center;text-indent:-0.18pt;vertical-align:middle"><font style="color:#072146;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Book value</font></td><td colspan="15" style="padding:2px 1pt;text-align:center;text-indent:-0.18pt;vertical-align:middle"><font style="color:#072146;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Fair value</font></td></tr><tr style="height:50pt"><td colspan="3" style="border-top:0.25pt solid #ffffff;padding:0 1pt 0 1.18pt;text-indent:-0.18pt"></td><td colspan="3" style="border-top:1pt solid #000;padding:2px 1.18pt 2px 1pt;text-align:right;text-indent:-0.18pt;vertical-align:middle"><font style="color:#072146;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Carrying amount presented as fair value &#8317;&#185;&#8318;</font></td><td colspan="3" style="border-top:1pt solid #000;padding:2px 1.18pt 2px 1pt;text-align:right;text-indent:-0.18pt;vertical-align:middle"><font style="color:#072146;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Level 1</font></td><td colspan="3" style="border-top:1pt solid #000;padding:2px 1.18pt 2px 1pt;text-align:right;text-indent:-0.18pt;vertical-align:middle"><font style="color:#072146;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Level 2</font></td><td colspan="3" style="border-top:1pt solid #000;padding:2px 1.18pt 2px 1pt;text-align:right;text-indent:-0.18pt;vertical-align:middle"><font style="color:#072146;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Level 3</font></td><td colspan="3" style="border-top:1pt solid #000;padding:2px 1.18pt 2px 1pt;text-align:right;text-indent:-0.18pt;vertical-align:middle"><font style="color:#072146;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Total</font></td></tr><tr><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#004481;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:120%">ASSETS</font></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Cash, cash balances at central banks and other demand deposits</font></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">8</font></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">51,145</font></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">51,145</font></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">&#8212;</font></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">&#8212;</font></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">&#8212;</font></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">51,145</font></td></tr><tr><td colspan="3" style="background-color:#ffffff;border-top:0.25pt solid #ffffff;padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Financial assets at amortized cost</font></td><td colspan="3" style="background-color:#ffffff;border-top:0.25pt solid #ffffff;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">13</font></td><td colspan="3" style="background-color:#ffffff;border-top:0.25pt solid #ffffff;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">502,400</font></td><td colspan="3" style="background-color:#ffffff;border-top:0.25pt solid #ffffff;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">32,615</font></td><td colspan="3" style="background-color:#ffffff;border-top:0.25pt solid #ffffff;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">50,771</font></td><td colspan="3" style="background-color:#ffffff;border-top:0.25pt solid #ffffff;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">24,157</font></td><td colspan="3" style="background-color:#ffffff;border-top:0.25pt solid #ffffff;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">394,496</font></td><td colspan="3" style="background-color:#ffffff;border-top:0.25pt solid #ffffff;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">502,039</font></td></tr><tr><td colspan="3" style="background-color:#ffffff;border-top:0.25pt solid #ffffff;padding:2px 1pt 2px 13pt;text-align:left;vertical-align:middle"><font style="color:#929292;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Debt securities </font></td><td colspan="3" style="border-top:0.25pt solid #ffffff;padding:0 1pt"></td><td colspan="3" style="border-top:0.25pt solid #ffffff;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#929292;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">59,014</font></td><td colspan="3" style="border-top:0.25pt solid #ffffff;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#929292;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">&#8212;</font></td><td colspan="3" style="border-top:0.25pt solid #ffffff;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#929292;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">50,771</font></td><td colspan="3" style="border-top:0.25pt solid #ffffff;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#929292;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">6,589</font></td><td colspan="3" style="border-top:0.25pt solid #ffffff;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#929292;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">921</font></td><td colspan="3" style="border-top:0.25pt solid #ffffff;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#929292;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">58,281</font></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="background-color:#ffffff;border-top:0.25pt solid #ffffff;padding:2px 1pt 2px 13pt;text-align:left;vertical-align:middle"><font style="color:#929292;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Loans and advances</font></td><td colspan="3" style="border-top:1pt solid #FFFFFF;padding:0 1pt 0 7pt"></td><td colspan="3" style="border-left:1pt solid #FFFFFF;border-top:0.25pt solid #ffffff;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#929292;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">443,386</font></td><td colspan="3" style="border-top:0.25pt solid #ffffff;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#929292;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">32,615</font></td><td colspan="3" style="border-top:0.25pt solid #ffffff;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#929292;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">&#8212;</font></td><td colspan="3" style="border-top:0.25pt solid #ffffff;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#929292;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">17,568</font></td><td colspan="3" style="border-top:0.25pt solid #ffffff;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#929292;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">393,575</font></td><td colspan="3" style="border-top:0.25pt solid #ffffff;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#929292;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">443,759</font></td></tr><tr><td colspan="3" style="background-color:#ffffff;border-top:0.25pt solid #ffffff;padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#004481;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:120%">LIABILITIES</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Financial liabilities at amortized cost </font></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">20</font></td><td colspan="3" style="border-top:1pt solid #000;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">584,339</font></td><td colspan="3" style="border-top:1pt solid #000;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">378,530</font></td><td colspan="3" style="border-top:1pt solid #000;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">47,323</font></td><td colspan="3" style="border-top:1pt solid #000;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">58,016</font></td><td colspan="3" style="border-top:1pt solid #000;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">101,025</font></td><td colspan="3" style="border-top:1pt solid #000;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">584,894</font></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="background-color:#ffffff;border-top:0.25pt solid #ffffff;padding:2px 1pt 2px 13pt;text-align:left;vertical-align:middle"><font style="color:#929292;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Deposits</font></td><td colspan="3" style="border-top:0.25pt solid #ffffff;padding:0 1pt"></td><td colspan="3" style="border-top:0.25pt solid #ffffff;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#929292;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">496,720</font></td><td colspan="3" style="border-top:0.25pt solid #ffffff;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#929292;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">360,777</font></td><td colspan="3" style="border-top:0.25pt solid #ffffff;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#929292;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">&#8212;</font></td><td colspan="3" style="border-top:0.25pt solid #ffffff;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#929292;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">37,647</font></td><td colspan="3" style="border-top:0.25pt solid #ffffff;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#929292;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">98,038</font></td><td colspan="3" style="border-top:0.25pt solid #ffffff;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#929292;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">496,461</font></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 13pt;text-align:left;vertical-align:middle"><font style="color:#929292;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Debt securities issued</font></td><td colspan="3" style="border-top:1pt solid #FFFFFF;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #FFFFFF;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#929292;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">69,867</font></td><td colspan="3" style="border-top:0.25pt solid #ffffff;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#929292;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">&#8212;</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#929292;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">47,323</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#929292;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">20,369</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#929292;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">2,986</font></td><td colspan="3" style="border-top:1pt solid #FFFFFF;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#929292;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">70,679</font></td></tr><tr><td colspan="3" style="background-color:#ffffff;border-top:0.25pt solid #ffffff;padding:2px 1pt 2px 13pt;text-align:left;vertical-align:middle"><font style="color:#929292;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Other financial liabilities</font></td><td colspan="3" style="border-top:0.25pt solid #ffffff;padding:0 1pt"></td><td colspan="3" style="border-top:0.25pt solid #ffffff;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#929292;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">17,753</font></td><td colspan="3" style="border-bottom:0.25pt solid #ffffff;border-top:0.25pt solid #ffffff;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#929292;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">17,753</font></td><td colspan="3" style="border-top:0.25pt solid #ffffff;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#929292;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">&#8212;</font></td><td colspan="3" style="border-top:0.25pt solid #ffffff;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#929292;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">&#8212;</font></td><td colspan="3" style="border-top:0.25pt solid #ffffff;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#929292;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">&#8212;</font></td><td colspan="3" style="border-top:0.25pt solid #ffffff;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#929292;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">17,753</font></td></tr></table></div><div style="padding-left:0.56pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:6pt;font-weight:400;line-height:130%">(1) Financial instruments whose book value is presented as an approximation to their fair value, mainly short-term financial instruments.</font></div><div id="i4a27b892ded141958e799b2ba3298497_187"></div><div style="margin-bottom:10pt;margin-top:10pt;text-align:justify"><font style="color:#072146;font-family:'Arial',sans-serif;font-size:11pt;font-weight:700;line-height:130%">8.</font><font style="color:#072146;font-family:'Arial',sans-serif;font-size:11pt;font-weight:700;line-height:130%;padding-left:26.84pt">Cash, cash balances at central banks and other demand deposits</font></div><div style="margin-bottom:10pt;margin-top:10pt;text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.893%"><tr><td style="width:1.0%"></td><td style="width:68.083%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:14.308%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:14.309%"></td><td style="width:0.1%"></td></tr><tr><td colspan="9" style="background-color:#E9E9E9;border-left:1pt solid #FFFFFF;padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#02a5a5;font-family:'BBVA Benton Sans Book',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Cash, cash balances at central banks and other demand deposits (Millions of Euros)</font></td></tr><tr><td colspan="3" style="border-left:1pt solid #FFFFFF;padding:0 1pt 0 1.18pt;text-indent:-0.18pt"></td><td colspan="3" style="padding:2px 1.18pt 2px 1pt;text-align:right;text-indent:-0.18pt;vertical-align:middle"><font style="color:#072146;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:120%">March <br>2025</font></td><td colspan="3" style="padding:2px 1.18pt 2px 1pt;text-align:right;text-indent:-0.18pt;vertical-align:middle"><font style="color:#072146;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:120%">December <br>2024</font></td></tr><tr><td colspan="3" style="border-left:1pt solid #FFFFFF;border-top:1pt solid #072146;padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Cash on hand</font></td><td colspan="3" style="border-left:1pt solid #FFFFFF;border-top:1pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">7,445</font></td><td colspan="3" style="border-left:1pt solid #FFFFFF;border-right:1pt solid #FFFFFF;border-top:1pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">8,636</font></td></tr><tr><td colspan="3" style="border-left:1pt solid #FFFFFF;border-top:1pt solid #FFFFFF;padding:2px 1pt;text-align:left;vertical-align:middle"><div style="margin-bottom:0.05pt;margin-top:0.05pt"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Cash balances at central banks</font></div></td><td colspan="3" style="border-left:1pt solid #FFFFFF;border-top:1pt solid #FFFFFF;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">35,165</font></td><td colspan="3" style="border-left:1pt solid #FFFFFF;border-right:1pt solid #FFFFFF;border-top:1pt solid #FFFFFF;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">35,306</font></td></tr><tr><td colspan="3" style="border-left:1pt solid #FFFFFF;border-top:1pt solid #FFFFFF;padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Other demand deposits</font></td><td colspan="3" style="border-left:1pt solid #FFFFFF;border-top:1pt solid #FFFFFF;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">7,795</font></td><td colspan="3" style="border-left:1pt solid #FFFFFF;border-right:1pt solid #FFFFFF;border-top:1pt solid #FFFFFF;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">7,202</font></td></tr><tr><td colspan="3" style="background-color:#5AC4C4;border-bottom:1pt solid #FFFFFF;border-top:1pt solid #FFFFFF;padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#ffffff;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Total</font></td><td colspan="3" style="background-color:#5AC4C4;border-bottom:1pt solid #FFFFFF;border-top:1pt solid #FFFFFF;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#ffffff;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:120%">50,406</font></td><td colspan="3" style="background-color:#5AC4C4;border-bottom:1pt solid #FFFFFF;border-top:1pt solid #FFFFFF;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#ffffff;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:120%">51,145</font></td></tr></table></div><div id="i4a27b892ded141958e799b2ba3298497_190"></div><div style="margin-bottom:10pt;margin-top:10pt;text-align:justify"><font style="color:#072146;font-family:'Arial',sans-serif;font-size:11pt;font-weight:700;line-height:130%">9.</font><font style="color:#072146;font-family:'Arial',sans-serif;font-size:11pt;font-weight:700;line-height:130%;padding-left:26.84pt">Financial assets and liabilities held for trading</font></div><div style="margin-bottom:1pt;margin-top:1pt;text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.893%"><tr><td style="width:1.0%"></td><td style="width:57.759%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.223%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:14.308%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:14.310%"></td><td style="width:0.1%"></td></tr><tr><td colspan="12" style="background-color:#E9E9E9;border-left:1pt solid #FFFFFF;border-top:1pt solid #FFFFFF;padding:2px 1pt 2px 1.49pt;text-align:left;text-indent:-0.49pt;vertical-align:middle"><font style="color:#02a5a5;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Financial assets and liabilities held for trading (Millions of Euros)</font></td></tr><tr><td colspan="3" style="border-left:1pt solid #FFFFFF;padding:0 1pt 0 1.18pt;text-indent:-0.18pt"></td><td colspan="3" style="padding:2px 1pt;text-align:center;text-indent:-0.18pt;vertical-align:middle"><font style="color:#072146;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Notes</font></td><td colspan="3" style="padding:2px 1.18pt 2px 1pt;text-align:right;text-indent:-0.18pt;vertical-align:middle"><font style="color:#072146;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:120%">March <br>2025</font></td><td colspan="3" style="padding:2px 1.18pt 2px 1pt;text-align:right;text-indent:-0.18pt;vertical-align:middle"><font style="color:#072146;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:120%">December <br>2024</font></td></tr><tr><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#004481;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:120%">ASSETS</font></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td></tr><tr><td colspan="3" style="border-left:1pt solid #FFFFFF;border-top:1pt solid #929292;padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Derivatives</font></td><td colspan="3" style="border-left:1pt solid #FFFFFF;border-top:1pt solid #929292;padding:0 1pt"></td><td colspan="3" style="border-left:1pt solid #FFFFFF;border-top:1pt solid #929292;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">30,099</font></td><td colspan="3" style="border-left:1pt solid #FFFFFF;border-top:1pt solid #929292;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">36,003</font></td></tr><tr><td colspan="3" style="border-left:1pt solid #FFFFFF;border-top:1pt solid #FFFFFF;padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Equity instruments</font></td><td colspan="3" style="border-left:1pt solid #FFFFFF;border-top:1pt solid #FFFFFF;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">6.2</font></td><td colspan="3" style="border-left:1pt solid #FFFFFF;border-top:1pt solid #FFFFFF;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">6,549</font></td><td colspan="3" style="border-left:1pt solid #FFFFFF;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">6,760</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Debt securities</font></td><td colspan="3" style="border-top:1pt solid #FFFFFF;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">6.2</font></td><td colspan="3" style="border-left:1pt solid #FFFFFF;border-top:1pt solid #FFFFFF;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">24,795</font></td><td colspan="3" style="border-left:1pt solid #FFFFFF;border-top:1pt solid #FFFFFF;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">27,955</font></td></tr><tr><td colspan="3" style="border-left:1pt solid #FFFFFF;border-top:1pt solid #FFFFFF;padding:2px 1pt;text-align:left;vertical-align:middle"><div style="margin-bottom:0.1pt"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Loans and advances</font></div></td><td colspan="3" style="border-top:1pt solid #FFFFFF;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">6.2</font></td><td colspan="3" style="border-left:1pt solid #FFFFFF;border-top:1pt solid #FFFFFF;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">40,274</font></td><td colspan="3" style="border-left:1pt solid #FFFFFF;border-top:1pt solid #FFFFFF;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">38,230</font></td></tr><tr><td colspan="3" style="background-color:#5AC4C4;padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#ffffff;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Total assets</font></td><td colspan="3" style="background-color:#5AC4C4;border-top:1pt solid #FFFFFF;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#ffffff;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:120%">7</font></td><td colspan="3" style="background-color:#5AC4C4;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#ffffff;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:120%">101,716</font></td><td colspan="3" style="background-color:#5AC4C4;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#ffffff;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:120%">108,948</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#004481;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:120%">LIABILITIES</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="border-left:1pt solid #FFFFFF;border-top:1pt solid #929292;padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Derivatives </font></td><td colspan="3" style="border-left:1pt solid #FFFFFF;border-top:1pt solid #929292;padding:0 1pt"></td><td colspan="3" style="border-left:1pt solid #FFFFFF;border-top:1pt solid #929292;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">27,243</font></td><td colspan="3" style="border-left:1pt solid #FFFFFF;border-top:1pt solid #929292;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">33,059</font></td></tr><tr><td colspan="3" style="border-left:1pt solid #FFFFFF;border-top:1pt solid #FFFFFF;padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Short positions</font></td><td colspan="3" style="border-left:1pt solid #FFFFFF;border-top:1pt solid #FFFFFF;padding:0 1pt"></td><td colspan="3" style="border-left:1pt solid #FFFFFF;border-top:1pt solid #FFFFFF;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">11,677</font></td><td colspan="3" style="border-left:1pt solid #FFFFFF;border-top:1pt solid #FFFFFF;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">13,878</font></td></tr><tr><td colspan="3" style="border-left:1pt solid #FFFFFF;border-top:1pt solid #FFFFFF;padding:2px 1pt;text-align:left;vertical-align:middle"><div style="margin-bottom:0.1pt"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Deposits</font></div></td><td colspan="3" style="border-left:1pt solid #FFFFFF;border-top:1pt solid #FFFFFF;padding:0 1pt"></td><td colspan="3" style="border-left:1pt solid #FFFFFF;border-top:1pt solid #FFFFFF;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">37,326</font></td><td colspan="3" style="border-left:1pt solid #FFFFFF;border-top:1pt solid #FFFFFF;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">39,654</font></td></tr><tr><td colspan="3" style="background-color:#5AC4C4;padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#ffffff;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Total liabilities</font></td><td colspan="3" style="background-color:#5AC4C4;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#ffffff;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:120%">7</font></td><td colspan="3" style="background-color:#5AC4C4;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#ffffff;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:120%">76,246</font></td><td colspan="3" style="background-color:#5AC4C4;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#ffffff;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:120%">86,591</font></td></tr></table></div><div id="i4a27b892ded141958e799b2ba3298497_193"></div><div style="margin-bottom:10pt;margin-top:10pt;text-align:justify"><font style="color:#072146;font-family:'Arial',sans-serif;font-size:11pt;font-weight:700;line-height:130%">10.</font><font style="color:#072146;font-family:'Arial',sans-serif;font-size:11pt;font-weight:700;line-height:130%;padding-left:20.73pt">Non-trading financial assets mandatorily at fair value through profit or loss</font></div><div style="margin-bottom:6pt;margin-top:10pt;text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.893%"><tr><td style="width:1.0%"></td><td style="width:57.759%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.223%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:14.308%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:14.310%"></td><td style="width:0.1%"></td></tr><tr><td colspan="12" style="background-color:#E9E9E9;border-left:1pt solid #FFFFFF;border-top:1pt solid #FFFFFF;padding:2px 1pt 2px 1.49pt;text-align:left;text-indent:-0.49pt;vertical-align:middle"><font style="color:#02a5a5;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Non-trading financial assets mandatorily at fair value through profit or loss (Millions of Euros)</font></td></tr><tr><td colspan="3" style="border-left:1pt solid #FFFFFF;border-top:1pt solid #FFFFFF;padding:0 1pt 0 1.18pt;text-indent:-0.18pt"></td><td colspan="3" style="border-top:1pt solid #FFFFFF;padding:2px 1pt;text-align:center;text-indent:-0.18pt;vertical-align:middle"><font style="color:#072146;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Notes</font></td><td colspan="3" style="padding:2px 1.18pt 2px 1pt;text-align:right;text-indent:-0.18pt;vertical-align:middle"><font style="color:#072146;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:120%">March <br>2025</font></td><td colspan="3" style="padding:2px 1.18pt 2px 1pt;text-align:right;text-indent:-0.18pt;vertical-align:middle"><font style="color:#072146;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:120%">December <br>2024</font></td></tr><tr><td colspan="3" style="border-left:1pt solid #FFFFFF;border-top:1pt solid #072146;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Equity instruments</font></td><td colspan="3" style="border-left:1pt solid #FFFFFF;border-top:1pt solid #072146;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">6.2</font></td><td colspan="3" style="border-left:1pt solid #FFFFFF;border-top:1pt solid #072146;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">9,605</font></td><td colspan="3" style="border-left:1pt solid #FFFFFF;border-right:1pt solid #FFFFFF;border-top:1pt solid #072146;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">9,782</font></td></tr><tr><td colspan="3" style="border-left:1pt solid #FFFFFF;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Debt securities</font></td><td colspan="3" style="border-left:1pt solid #FFFFFF;border-top:1pt solid #FFFFFF;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">6.2</font></td><td colspan="3" style="border-left:1pt solid #FFFFFF;border-top:1pt solid #FFFFFF;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">581</font></td><td colspan="3" style="border-left:1pt solid #FFFFFF;border-right:1pt solid #FFFFFF;border-top:1pt solid #FFFFFF;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">407</font></td></tr><tr><td colspan="3" style="border-left:1pt solid #FFFFFF;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Loans and advances to customers</font></td><td colspan="3" style="border-left:1pt solid #FFFFFF;border-top:1pt solid #FFFFFF;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">6.2</font></td><td colspan="3" style="border-left:1pt solid #FFFFFF;border-top:1pt solid #FFFFFF;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">384</font></td><td colspan="3" style="border-left:1pt solid #FFFFFF;border-right:1pt solid #FFFFFF;border-top:1pt solid #FFFFFF;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">358</font></td></tr><tr><td colspan="3" style="background-color:#5AC4C4;border-bottom:1pt solid #FFFFFF;border-top:1pt solid #FFFFFF;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#ffffff;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Total </font></td><td colspan="3" style="background-color:#5AC4C4;border-bottom:1pt solid #FFFFFF;border-top:1pt solid #FFFFFF;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#ffffff;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:120%">7</font></td><td colspan="3" style="background-color:#5AC4C4;border-bottom:1pt solid #FFFFFF;border-top:1pt solid #FFFFFF;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#ffffff;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:120%">10,570</font></td><td colspan="3" style="background-color:#5AC4C4;border-bottom:1pt solid #FFFFFF;border-top:1pt solid #FFFFFF;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#ffffff;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:120%">10,546</font></td></tr></table></div><div style="height:42.52pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="margin-bottom:10pt;margin-top:10pt;text-align:center"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:130%">F-21</font></div></div></div><div id="i4a27b892ded141958e799b2ba3298497_196"></div><hr style="page-break-after:always"><div style="min-height:42.52pt;width:100%"><div style="margin-bottom:6pt;margin-top:0.03pt;padding-left:0.56pt;text-align:justify"><font><br></font></div></div><div style="margin-bottom:10pt;margin-top:10pt;text-align:justify"><font style="color:#072146;font-family:'Arial',sans-serif;font-size:11pt;font-weight:700;line-height:130%">11.</font><font style="color:#072146;font-family:'Arial',sans-serif;font-size:11pt;font-weight:700;line-height:130%;padding-left:20.73pt">Financial assets and liabilities designated at fair value through profit or loss</font></div><div style="margin-bottom:6pt;margin-top:10pt;text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.893%"><tr><td style="width:1.0%"></td><td style="width:57.759%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.223%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:14.308%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:14.310%"></td><td style="width:0.1%"></td></tr><tr><td colspan="12" style="background-color:#E9E9E9;padding:2px 1pt 2px 1.49pt;text-align:left;text-indent:-0.49pt;vertical-align:middle"><font style="color:#02a5a5;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Financial assets and liabilities designated at fair value through profit or loss (Millions of Euros)</font></td></tr><tr><td colspan="3" style="padding:0 1pt 0 1.18pt;text-indent:-0.18pt"></td><td colspan="3" style="padding:2px 1pt;text-align:center;text-indent:-0.18pt;vertical-align:middle"><font style="color:#072146;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Notes</font></td><td colspan="3" style="padding:2px 1.18pt 2px 1pt;text-align:right;text-indent:-0.18pt;vertical-align:middle"><font style="color:#072146;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:120%">March <br>2025</font></td><td colspan="3" style="padding:2px 1.18pt 2px 1pt;text-align:right;text-indent:-0.18pt;vertical-align:middle"><font style="color:#072146;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:120%">December <br>2024</font></td></tr><tr><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#004481;font-family:'BBVA Benton Sans Book',sans-serif;font-size:8pt;font-weight:700;line-height:120%">ASSETS</font></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td></tr><tr><td colspan="3" style="border-left:1pt solid #FFFFFF;border-top:1pt solid #929292;padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Debt securities</font></td><td colspan="3" style="border-left:1pt solid #FFFFFF;border-top:1pt solid #929292;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">6.2 &#47; 7</font></td><td colspan="3" style="border-top:1pt solid #929292;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">929</font></td><td colspan="3" style="border-top:1pt solid #929292;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">836</font></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="border-top:1pt solid #FFFFFF;padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#004481;font-family:'BBVA Benton Sans Book',sans-serif;font-size:8pt;font-weight:700;line-height:120%">LIABILITIES</font></td><td colspan="3" style="border-top:1pt solid #FFFFFF;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #FFFFFF;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #FFFFFF;padding:0 1pt"></td></tr><tr><td colspan="3" style="border-left:1pt solid #FFFFFF;border-top:1pt solid #929292;padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Deposits from credit institutions</font></td><td colspan="3" style="border-left:1pt solid #FFFFFF;border-top:1pt solid #929292;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #929292;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">&#8212;</font></td><td colspan="3" style="border-top:1pt solid #929292;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">&#8212;</font></td></tr><tr><td colspan="3" style="border-top:1pt solid #FFFFFF;padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Customer deposits</font></td><td colspan="3" style="border-top:1pt solid #FFFFFF;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #FFFFFF;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">905</font></td><td colspan="3" style="border-top:1pt solid #FFFFFF;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">934</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><div style="margin-bottom:0.05pt;margin-top:0.05pt"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Debt securities issued</font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">4,569</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">4,597</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Other financial liabilities&#58; Unit-linked products</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">9,834</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">9,420</font></td></tr><tr><td colspan="3" style="background-color:#5AC4C4;padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#ffffff;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Total liabilities</font></td><td colspan="3" style="background-color:#5AC4C4;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#ffffff;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:120%">7</font></td><td colspan="3" style="background-color:#5AC4C4;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#ffffff;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:120%">15,309</font></td><td colspan="3" style="background-color:#5AC4C4;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#ffffff;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:120%">14,952</font></td></tr></table></div><div id="i4a27b892ded141958e799b2ba3298497_199"></div><div style="margin-bottom:10pt;margin-top:10pt;text-align:justify"><font style="color:#072146;font-family:'Arial',sans-serif;font-size:11pt;font-weight:700;line-height:130%">12.</font><font style="color:#072146;font-family:'Arial',sans-serif;font-size:11pt;font-weight:700;line-height:130%;padding-left:20.73pt">Financial assets at fair value through other comprehensive income </font></div><div id="i4a27b892ded141958e799b2ba3298497_202"></div><div style="margin-bottom:6pt;margin-top:10pt;text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.893%"><tr><td style="width:1.0%"></td><td style="width:57.759%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.223%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:14.308%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:14.310%"></td><td style="width:0.1%"></td></tr><tr><td colspan="12" style="background-color:#E9E9E9;padding:2px 1pt 2px 1.49pt;text-align:left;text-indent:-0.49pt;vertical-align:middle"><font style="color:#02a5a5;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Financial assets at fair value through other comprehensive income (Millions of Euros)</font></td></tr><tr><td colspan="3" style="padding:0 1pt 0 1.18pt;text-indent:-0.18pt"></td><td colspan="3" style="padding:2px 1pt;text-align:center;text-indent:-0.18pt;vertical-align:middle"><font style="color:#072146;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Notes</font></td><td colspan="3" style="padding:2px 1.18pt 2px 1pt;text-align:right;text-indent:-0.18pt;vertical-align:middle"><font style="color:#072146;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:120%">March <br>2025</font></td><td colspan="3" style="padding:2px 1.18pt 2px 1pt;text-align:right;text-indent:-0.18pt;vertical-align:middle"><font style="color:#072146;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:120%">December <br>2024</font></td></tr><tr><td colspan="3" style="border-left:1pt solid #FFFFFF;border-top:1pt solid #072146;padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Equity instruments</font></td><td colspan="3" style="border-left:1pt solid #FFFFFF;border-top:1pt solid #072146;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">6.2</font></td><td colspan="3" style="border-left:1pt solid #FFFFFF;border-top:1pt solid #072146;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">1,573</font></td><td colspan="3" style="border-left:1pt solid #FFFFFF;border-right:1pt solid #FFFFFF;border-top:1pt solid #072146;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">1,451</font></td></tr><tr><td colspan="3" style="border-left:1pt solid #FFFFFF;border-top:1pt solid #FFFFFF;padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Debt securities</font></td><td colspan="3" style="border-left:1pt solid #FFFFFF;border-top:1pt solid #FFFFFF;padding:0 1pt"></td><td colspan="3" style="border-left:1pt solid #FFFFFF;border-top:1pt solid #FFFFFF;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">58,121</font></td><td colspan="3" style="border-left:1pt solid #FFFFFF;border-right:1pt solid #FFFFFF;border-top:1pt solid #FFFFFF;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">57,526</font></td></tr><tr><td colspan="3" style="border-left:1pt solid #FFFFFF;border-top:1pt solid #FFFFFF;padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Loans and advances to credit institutions</font></td><td colspan="3" style="border-left:1pt solid #FFFFFF;border-top:1pt solid #FFFFFF;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">6.2</font></td><td colspan="3" style="border-left:1pt solid #FFFFFF;border-top:1pt solid #FFFFFF;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">25</font></td><td colspan="3" style="border-left:1pt solid #FFFFFF;border-right:1pt solid #FFFFFF;border-top:1pt solid #FFFFFF;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">25</font></td></tr><tr><td colspan="3" style="background-color:#5AC4C4;border-top:1pt solid #FFFFFF;padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#ffffff;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Total </font></td><td colspan="3" style="background-color:#5AC4C4;border-top:1pt solid #FFFFFF;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#FFFFFF;font-family:'BBVA Benton Sans Book',sans-serif;font-size:8pt;font-weight:700;line-height:120%">7</font></td><td colspan="3" style="background-color:#5AC4C4;border-top:1pt solid #FFFFFF;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#ffffff;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:120%">59,718</font></td><td colspan="3" style="background-color:#5AC4C4;border-top:1pt solid #FFFFFF;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#ffffff;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:120%">59,002</font></td></tr><tr><td colspan="3" style="border-bottom:1pt solid #FFFFFF;border-top:1pt solid #FFFFFF;padding:2px 1pt 2px 7pt;text-align:left;vertical-align:middle"><font style="color:#929292;font-family:'Arial',sans-serif;font-size:8pt;font-style:italic;font-weight:400;line-height:120%">Of which&#58; loss allowances of debt securities</font></td><td colspan="3" style="border-bottom:1pt solid #FFFFFF;border-top:1pt solid #FFFFFF;padding:0 1pt"></td><td colspan="3" style="border-bottom:1pt solid #FFFFFF;border-left:1pt solid #FFFFFF;border-top:1pt solid #FFFFFF;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#929292;font-family:'Arial',sans-serif;font-size:8pt;font-style:italic;font-weight:400;line-height:120%">(120)</font></td><td colspan="3" style="border-bottom:1pt solid #FFFFFF;border-left:1pt solid #FFFFFF;border-right:1pt solid #FFFFFF;border-top:1pt solid #FFFFFF;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#929292;font-family:'Arial',sans-serif;font-size:8pt;font-style:italic;font-weight:400;line-height:120%">(112)</font></td></tr></table></div><div id="i4a27b892ded141958e799b2ba3298497_205"></div><div style="margin-bottom:10pt;margin-top:10pt;text-align:justify"><font style="color:#072146;font-family:'Arial',sans-serif;font-size:11pt;font-weight:700;line-height:130%">13.</font><font style="color:#072146;font-family:'Arial',sans-serif;font-size:11pt;font-weight:700;line-height:130%;padding-left:20.73pt">Financial assets at amortized cost</font></div><div id="i4a27b892ded141958e799b2ba3298497_208"></div><div style="margin-bottom:6pt;margin-top:10pt;text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.893%"><tr><td style="width:1.0%"></td><td style="width:57.759%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.223%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:14.308%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:14.310%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="background-color:#E9E9E9;padding:2px 1pt 2px 1.49pt;text-align:left;text-indent:-0.49pt;vertical-align:middle"><font style="color:#02a5a5;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Financial assets at amortized cost (Millions of Euros)</font></td><td colspan="3" style="background-color:#E9E9E9;border-top:1pt solid #FFFFFF;padding:0 1pt 0 1.49pt;text-indent:-0.49pt"></td><td colspan="3" style="background-color:#E9E9E9;border-top:1pt solid #FFFFFF;padding:0 1pt"></td><td colspan="3" style="background-color:#E9E9E9;border-top:1pt solid #FFFFFF;padding:0 1pt 0 1.49pt;text-indent:-0.49pt"></td></tr><tr><td colspan="3" style="padding:0 1pt 0 1.18pt;text-indent:-0.18pt"></td><td colspan="3" style="border-top:1pt solid #FFFFFF;padding:2px 1pt;text-align:center;text-indent:-0.18pt;vertical-align:middle"><font style="color:#072146;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Notes</font></td><td colspan="3" style="padding:2px 1.18pt 2px 1pt;text-align:right;text-indent:-0.18pt;vertical-align:middle"><font style="color:#072146;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:120%">March <br>2025</font></td><td colspan="3" style="padding:2px 1.18pt 2px 1pt;text-align:right;text-indent:-0.18pt;vertical-align:middle"><font style="color:#072146;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:120%">December <br>2024</font></td></tr><tr><td colspan="3" style="border-top:1pt solid #072146;padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#004481;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Debt securities</font></td><td colspan="3" style="border-left:1pt solid #FFFFFF;border-top:1pt solid #072146;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #072146;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#004481;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:120%">62,972</font></td><td colspan="3" style="border-left:1pt solid #FFFFFF;border-right:1pt solid #FFFFFF;border-top:1pt solid #072146;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#004481;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:120%">59,014</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#004481;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Loans and advances to central banks</font></td><td colspan="3" style="border-left:1pt solid #FFFFFF;border-top:1pt solid #FFFFFF;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #FFFFFF;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#004481;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:120%">9,355</font></td><td colspan="3" style="border-left:1pt solid #FFFFFF;border-right:1pt solid #FFFFFF;border-top:1pt solid #FFFFFF;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#004481;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:120%">8,255</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#004481;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Loans and advances to credit institutions</font></td><td colspan="3" style="border-left:1pt solid #FFFFFF;border-top:1pt solid #FFFFFF;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #FFFFFF;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#004481;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:120%">22,842</font></td><td colspan="3" style="border-left:1pt solid #FFFFFF;border-right:1pt solid #FFFFFF;border-top:1pt solid #FFFFFF;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#004481;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:120%">22,655</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#004481;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Loans and advances to customers</font></td><td colspan="3" style="border-left:1pt solid #FFFFFF;border-top:1pt solid #FFFFFF;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #FFFFFF;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#004481;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:120%">417,266</font></td><td colspan="3" style="background-color:#ffffff;border-left:1pt solid #FFFFFF;border-right:1pt solid #FFFFFF;border-top:1pt solid #FFFFFF;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#004481;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:120%">412,477</font></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 7pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Government</font></td><td colspan="3" style="border-left:1pt solid #FFFFFF;border-top:1pt solid #FFFFFF;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #FFFFFF;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">22,919</font></td><td colspan="3" style="border-left:1pt solid #FFFFFF;border-right:1pt solid #FFFFFF;border-top:1pt solid #FFFFFF;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">22,111</font></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 7pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Other financial corporations</font></td><td colspan="3" style="border-left:1pt solid #FFFFFF;border-top:1pt solid #FFFFFF;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #FFFFFF;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">18,868</font></td><td colspan="3" style="border-left:1pt solid #FFFFFF;border-right:1pt solid #FFFFFF;border-top:1pt solid #FFFFFF;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">17,497</font></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 7pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Non-financial corporations</font></td><td colspan="3" style="border-left:1pt solid #FFFFFF;border-top:1pt solid #FFFFFF;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #FFFFFF;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">195,959</font></td><td colspan="3" style="border-left:1pt solid #FFFFFF;border-right:1pt solid #FFFFFF;border-top:1pt solid #FFFFFF;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">193,386</font></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 7pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Other</font></td><td colspan="3" style="border-left:1pt solid #FFFFFF;border-top:1pt solid #FFFFFF;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #FFFFFF;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">179,519</font></td><td colspan="3" style="border-left:1pt solid #FFFFFF;border-right:1pt solid #FFFFFF;border-top:1pt solid #FFFFFF;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">179,483</font></td></tr><tr><td colspan="3" style="background-color:#5AC4C4;border-top:1pt solid #FFFFFF;padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#ffffff;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Total</font></td><td colspan="3" style="background-color:#5AC4C4;border-top:1pt solid #FFFFFF;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#ffffff;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">7</font></td><td colspan="3" style="background-color:#5AC4C4;border-top:1pt solid #FFFFFF;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#ffffff;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:120%">512,434</font></td><td colspan="3" style="background-color:#5AC4C4;border-top:1pt solid #FFFFFF;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#ffffff;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:120%">502,400</font></td></tr><tr><td colspan="3" style="border-top:1pt solid #FFFFFF;padding:2px 1pt 2px 7pt;text-align:left;vertical-align:middle"><font style="color:#929292;font-family:'Arial',sans-serif;font-size:8pt;font-style:italic;font-weight:400;line-height:120%">Of which&#58; impaired assets of loans and advances to customers</font></td><td colspan="3" style="border-left:1pt solid #FFFFFF;border-top:1pt solid #FFFFFF;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#929292;font-family:'Arial',sans-serif;font-size:8pt;font-style:italic;font-weight:400;line-height:120%">6.2</font></td><td colspan="3" style="border-top:1pt solid #FFFFFF;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#929292;font-family:'Arial',sans-serif;font-size:8pt;font-style:italic;font-weight:400;line-height:120%">13,771</font></td><td colspan="3" style="border-left:1pt solid #FFFFFF;border-right:1pt solid #FFFFFF;border-top:1pt solid #FFFFFF;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#929292;font-family:'Arial',sans-serif;font-size:8pt;font-style:italic;font-weight:400;line-height:120%">14,211</font></td></tr><tr><td colspan="3" style="border-top:1pt solid #FFFFFF;padding:2px 1pt 2px 7pt;text-align:left;vertical-align:middle"><font style="color:#929292;font-family:'Arial',sans-serif;font-size:8pt;font-style:italic;font-weight:400;line-height:120%">Of which&#58; loss allowances of loans and advances</font></td><td colspan="3" style="border-left:1pt solid #FFFFFF;border-top:1pt solid #FFFFFF;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#929292;font-family:'Arial',sans-serif;font-size:8pt;font-style:italic;font-weight:400;line-height:120%">6.2</font></td><td colspan="3" style="border-top:1pt solid #FFFFFF;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#929292;font-family:'Arial',sans-serif;font-size:8pt;font-style:italic;font-weight:400;line-height:120%">(11,427)</font></td><td colspan="3" style="border-left:1pt solid #FFFFFF;border-right:1pt solid #FFFFFF;border-top:1pt solid #FFFFFF;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#929292;font-family:'Arial',sans-serif;font-size:8pt;font-style:italic;font-weight:400;line-height:120%">(11,630)</font></td></tr><tr><td colspan="3" style="border-bottom:1pt solid #FFFFFF;border-top:1pt solid #FFFFFF;padding:2px 1pt 2px 7pt;text-align:left;vertical-align:middle"><font style="color:#929292;font-family:'Arial',sans-serif;font-size:8pt;font-style:italic;font-weight:400;line-height:120%">Of which&#58; loss allowances of debt securities</font></td><td colspan="3" style="border-left:1pt solid #FFFFFF;border-top:1pt solid #FFFFFF;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #FFFFFF;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#929292;font-family:'Arial',sans-serif;font-size:8pt;font-style:italic;font-weight:400;line-height:120%">(54)</font></td><td colspan="3" style="border-top:1pt solid #FFFFFF;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#929292;font-family:'Arial',sans-serif;font-size:8pt;font-style:italic;font-weight:400;line-height:120%">(57)</font></td></tr></table></div><div id="i4a27b892ded141958e799b2ba3298497_211"></div><div style="margin-bottom:10pt;margin-top:10pt;text-align:justify"><font style="color:#072146;font-family:'Arial',sans-serif;font-size:11pt;font-weight:700;line-height:130%">14.&#160;&#160;&#160;&#160;Investments in joint ventures and associates</font></div><div style="margin-bottom:6pt;margin-top:10pt;text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.893%"><tr><td style="width:1.0%"></td><td style="width:68.083%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:14.308%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:14.309%"></td><td style="width:0.1%"></td></tr><tr><td colspan="9" style="background-color:#E9E9E9;border-left:1pt solid #FFFFFF;border-top:1pt solid #FFFFFF;padding:2px 1pt 2px 1.49pt;text-align:left;text-indent:-0.49pt;vertical-align:middle"><font style="color:#02a5a5;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Joint ventures and associates (Millions of Euros)</font></td></tr><tr><td colspan="3" style="border-left:1pt solid #FFFFFF;padding:0 1pt 0 1.18pt;text-indent:-0.18pt"></td><td colspan="3" style="border-top:1pt solid #FFFFFF;padding:2px 1.18pt 2px 1pt;text-align:right;text-indent:-0.18pt;vertical-align:middle"><font style="color:#072146;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:120%">March <br>2025</font></td><td colspan="3" style="border-top:1pt solid #FFFFFF;padding:2px 1.18pt 2px 1pt;text-align:right;text-indent:-0.18pt;vertical-align:middle"><font style="color:#072146;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:120%">December <br>2024</font></td></tr><tr><td colspan="3" style="border-left:1pt solid #FFFFFF;border-top:1pt solid #000;padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Joint ventures</font></td><td colspan="3" style="border-top:1pt solid #000;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">96</font></td><td colspan="3" style="border-top:1pt solid #000;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">94</font></td></tr><tr><td colspan="3" style="border-left:1pt solid #FFFFFF;border-top:1pt solid #FFFFFF;padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Associates</font></td><td colspan="3" style="border-left:1pt solid #FFFFFF;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">885</font></td><td colspan="3" style="border-left:1pt solid #FFFFFF;border-right:1pt solid #FFFFFF;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">895</font></td></tr><tr><td colspan="3" style="background-color:#5AC4C4;border-bottom:1pt solid #FFFFFF;border-top:1pt solid #FFFFFF;padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#ffffff;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Total</font></td><td colspan="3" style="background-color:#5AC4C4;border-bottom:1pt solid #FFFFFF;border-top:1pt solid #FFFFFF;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#ffffff;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:120%">981</font></td><td colspan="3" style="background-color:#5AC4C4;border-bottom:1pt solid #FFFFFF;border-top:1pt solid #FFFFFF;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#ffffff;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:120%">989</font></td></tr></table></div><div style="height:42.52pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="margin-bottom:10pt;margin-top:10pt;text-align:center"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:130%">F-22</font></div></div></div><div id="i4a27b892ded141958e799b2ba3298497_214"></div><hr style="page-break-after:always"><div style="min-height:42.52pt;width:100%"><div style="margin-bottom:6pt;margin-top:0.03pt;padding-left:0.56pt;text-align:justify"><font><br></font></div></div><div style="margin-bottom:10pt;margin-top:10pt;text-align:justify"><font style="color:#072146;font-family:'Arial',sans-serif;font-size:11pt;font-weight:700;line-height:130%">15.&#160;&#160;&#160;&#160;Tangible assets</font></div><div style="margin-bottom:2pt;margin-top:2pt;text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.893%"><tr><td style="width:1.0%"></td><td style="width:68.083%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:14.308%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:14.309%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="background-color:#E9E9E9;border-left:1pt solid #FFFFFF;border-top:1pt solid #FFFFFF;padding:2px 1pt 2px 1.49pt;text-align:left;text-indent:-0.49pt;vertical-align:bottom"><font style="color:#02a5a5;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Tangible assets. Breakdown by type (Millions of Euros)</font></td><td colspan="3" style="background-color:#E9E9E9;border-top:1pt solid #FFFFFF;padding:0 1pt 0 1.49pt;text-indent:-0.49pt"></td><td colspan="3" style="background-color:#E9E9E9;border-top:1pt solid #FFFFFF;padding:0 1pt 0 1.49pt;text-indent:-0.49pt"></td></tr><tr><td colspan="3" style="border-left:1pt solid #FFFFFF;border-top:1pt solid #FFFFFF;padding:0 1pt 0 1.18pt;text-indent:-0.18pt"></td><td colspan="3" style="border-top:1pt solid #FFFFFF;padding:2px 1.18pt 2px 1pt;text-align:right;text-indent:-0.18pt;vertical-align:middle"><font style="color:#072146;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:120%">March <br>2025</font></td><td colspan="3" style="border-top:1pt solid #FFFFFF;padding:2px 1.18pt 2px 1pt;text-align:right;text-indent:-0.18pt;vertical-align:middle"><font style="color:#072146;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:120%">December <br>2024</font></td></tr><tr><td colspan="3" style="border-top:1pt solid #000;padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#004481;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Property, plant and equipment </font></td><td colspan="3" style="border-top:1pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#004481;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:120%">9,261</font></td><td colspan="3" style="border-top:1pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#004481;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:120%">9,506</font></td></tr><tr><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #b6b6b6;padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#004481;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:120%">For own use</font></td><td colspan="3" style="background-color:#ffffff;border-left:1pt solid #FFFFFF;border-top:1pt solid #b6b6b6;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#004481;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:120%">8,331</font></td><td colspan="3" style="background-color:#ffffff;border-left:1pt solid #FFFFFF;border-right:1pt solid #FFFFFF;border-top:1pt solid #b6b6b6;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#004481;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:120%">8,501</font></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 7pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Land and buildings</font></td><td colspan="3" style="background-color:#ffffff;border-left:1pt solid #FFFFFF;border-top:1pt solid #FFFFFF;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">6,386</font></td><td colspan="3" style="background-color:#ffffff;border-left:1pt solid #FFFFFF;border-right:1pt solid #FFFFFF;border-top:1pt solid #FFFFFF;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">6,475</font></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 7pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Work in progress</font></td><td colspan="3" style="background-color:#ffffff;border-left:1pt solid #FFFFFF;border-top:1pt solid #FFFFFF;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">159</font></td><td colspan="3" style="background-color:#ffffff;border-left:1pt solid #FFFFFF;border-right:1pt solid #FFFFFF;border-top:1pt solid #FFFFFF;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">155</font></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 7pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Furniture, fixtures and vehicles</font></td><td colspan="3" style="background-color:#ffffff;border-left:1pt solid #FFFFFF;border-top:1pt solid #FFFFFF;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">6,774</font></td><td colspan="3" style="background-color:#ffffff;border-left:1pt solid #FFFFFF;border-right:1pt solid #FFFFFF;border-top:1pt solid #FFFFFF;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">6,848</font></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 7pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Right to use assets</font></td><td colspan="3" style="background-color:#ffffff;border-left:1pt solid #FFFFFF;border-top:1pt solid #FFFFFF;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">2,448</font></td><td colspan="3" style="background-color:#ffffff;border-left:1pt solid #FFFFFF;border-right:1pt solid #FFFFFF;border-top:1pt solid #FFFFFF;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">2,439</font></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 7pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Accumulated depreciation</font></td><td colspan="3" style="background-color:#ffffff;border-left:1pt solid #FFFFFF;border-top:1pt solid #FFFFFF;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(7,297)</font></td><td colspan="3" style="background-color:#ffffff;border-left:1pt solid #FFFFFF;border-right:1pt solid #FFFFFF;border-top:1pt solid #FFFFFF;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(7,276)</font></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 7pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Impairment</font></td><td colspan="3" style="background-color:#ffffff;border-left:1pt solid #FFFFFF;border-top:1pt solid #FFFFFF;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(139)</font></td><td colspan="3" style="background-color:#ffffff;border-left:1pt solid #FFFFFF;border-right:1pt solid #FFFFFF;border-top:1pt solid #FFFFFF;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(140)</font></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#004481;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Leased out under an operating lease</font></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#004481;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:120%">930</font></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#004481;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:120%">1,004</font></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 7pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Assets leased out under an operating lease</font></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">1,103</font></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">1,158</font></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 7pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Accumulated depreciation</font></td><td colspan="3" style="background-color:#ffffff;border-left:1pt solid #FFFFFF;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(173)</font></td><td colspan="3" style="background-color:#ffffff;border-left:1pt solid #FFFFFF;border-right:1pt solid #FFFFFF;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(153)</font></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#004481;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Investment property</font></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#004481;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:120%">269</font></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#004481;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:120%">253</font></td></tr><tr><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #b6b6b6;padding:2px 1pt 2px 7pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Building rental </font></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #b6b6b6;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">255</font></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #b6b6b6;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">240</font></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 7pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Other </font></td><td colspan="3" style="background-color:#ffffff;border-left:1pt solid #FFFFFF;border-top:1pt solid #FFFFFF;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">1</font></td><td colspan="3" style="background-color:#ffffff;border-left:1pt solid #FFFFFF;border-right:1pt solid #FFFFFF;border-top:1pt solid #FFFFFF;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">1</font></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 7pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Right to use assets</font></td><td colspan="3" style="background-color:#ffffff;border-left:1pt solid #FFFFFF;border-top:1pt solid #FFFFFF;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">256</font></td><td colspan="3" style="background-color:#ffffff;border-left:1pt solid #FFFFFF;border-right:1pt solid #FFFFFF;border-top:1pt solid #FFFFFF;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">251</font></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 7pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Accumulated depreciation</font></td><td colspan="3" style="background-color:#ffffff;border-left:1pt solid #FFFFFF;border-top:1pt solid #FFFFFF;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(124)</font></td><td colspan="3" style="background-color:#ffffff;border-left:1pt solid #FFFFFF;border-right:1pt solid #FFFFFF;border-top:1pt solid #FFFFFF;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(118)</font></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 7pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Impairment</font></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(119)</font></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(121)</font></td></tr><tr><td colspan="3" style="background-color:#5AC4C4;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#ffffff;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Total</font></td><td colspan="3" style="background-color:#5AC4C4;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#ffffff;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:120%">9,530</font></td><td colspan="3" style="background-color:#5AC4C4;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#ffffff;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:120%">9,759</font></td></tr></table></div><div id="i4a27b892ded141958e799b2ba3298497_217"></div><div style="margin-bottom:10pt;margin-top:10pt;text-align:justify"><font style="color:#072146;font-family:'Arial',sans-serif;font-size:11pt;font-weight:700;line-height:130%">16.&#160;&#160;&#160;&#160;Intangible assets</font></div><div style="margin-bottom:10pt;margin-top:10pt;text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.893%"><tr><td style="width:1.0%"></td><td style="width:68.083%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:14.308%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:14.309%"></td><td style="width:0.1%"></td></tr><tr><td colspan="9" style="background-color:#e9e9e9;border-left:0.25pt solid #ffffff;padding:2px 1pt 2px 1.49pt;text-align:left;text-indent:-0.49pt;vertical-align:middle"><font style="color:#02a5a5;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:120%">&#160;Intangible assets (Millions of Euros)</font></td></tr><tr><td colspan="3" style="border-left:0.25pt solid #ffffff;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #FFFFFF;padding:2px 1.18pt 2px 1pt;text-align:right;text-indent:-0.18pt;vertical-align:middle"><font style="color:#072146;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:120%">March <br>2025</font></td><td colspan="3" style="border-top:1pt solid #FFFFFF;padding:2px 1.18pt 2px 1pt;text-align:right;text-indent:-0.18pt;vertical-align:middle"><font style="color:#072146;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:120%">December <br>2024</font></td></tr><tr><td colspan="3" style="background-color:#ffffff;border-left:0.25pt solid #ffffff;border-top:1pt solid #000;padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#004481;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Goodwill</font></td><td colspan="3" style="background-color:#ffffff;border-left:0.25pt solid #ffffff;border-top:1pt solid #072146;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#004481;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:120%">689</font></td><td colspan="3" style="background-color:#ffffff;border-left:0.25pt solid #ffffff;border-top:1pt solid #072146;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#004481;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:120%">700</font></td></tr><tr><td colspan="3" style="background-color:#ffffff;border-left:0.25pt solid #ffffff;border-top:0.25pt solid #ffffff;padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#004481;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Other intangible assets</font></td><td colspan="3" style="background-color:#ffffff;border-left:0.25pt solid #ffffff;border-top:0.25pt solid #ffffff;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#004481;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:120%">1,803</font></td><td colspan="3" style="background-color:#ffffff;border-left:0.25pt solid #ffffff;border-top:0.25pt solid #ffffff;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#004481;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:120%">1,790</font></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 7pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Computer software acquisition expense</font></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">1,779</font></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">1,764</font></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 7pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Other intangible assets with an infinite useful life</font></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">9</font></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">9</font></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 7pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Other intangible assets with a definite useful life</font></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">15</font></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">17</font></td></tr><tr><td colspan="3" style="background-color:#5ac4c4;border-bottom:0.25pt solid #ffffff;border-top:0.25pt solid #ffffff;padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#ffffff;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Total</font></td><td colspan="3" style="background-color:#5ac4c4;border-bottom:0.25pt solid #ffffff;border-top:0.25pt solid #ffffff;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#ffffff;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:120%">2,492</font></td><td colspan="3" style="background-color:#5ac4c4;border-bottom:0.25pt solid #ffffff;border-top:0.25pt solid #ffffff;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#ffffff;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:120%">2,490</font></td></tr></table></div><div style="margin-bottom:10pt;margin-top:10pt;text-align:justify"><font style="color:#004580;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:130%">Goodwill</font></div><div style="margin-bottom:10pt;margin-top:10pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:130%">As of March 31, 2025 and December 31, 2024, the principal amount of the goodwill is due to the cash-generating unit (hereinafter &#34;CGU&#34;) of Mexico for an amount of &#8364;529 million and &#8364;541 million, respectively.</font></div><div style="margin-bottom:10pt;margin-top:10pt;text-align:justify"><font style="color:#004580;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:130%">Impairment Test</font></div><div style="margin-bottom:10pt;margin-top:10pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:130%">As mentioned in Note 2.2.7 of the consolidated financial statements of the Group for the year 2024, the CGUs to which goodwill has been allocated are periodically tested for impairment by including the allocated goodwill in their carrying amount. This analysis is performed at least annually or whenever there is any indication of impairment. </font></div><div style="margin-bottom:10pt;margin-top:10pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:130%">As of and for the three months ended March 31, 2025, no indicators of impairment have been identified in any CGU.</font></div><div id="i4a27b892ded141958e799b2ba3298497_220"></div><div style="margin-bottom:10pt;margin-top:10pt;text-align:justify"><font style="color:#072146;font-family:'Arial',sans-serif;font-size:11pt;font-weight:700;line-height:130%">17.&#160;&#160;&#160;&#160;Tax assets and liabilities</font></div><div style="margin-bottom:2pt;margin-top:2pt;text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.893%"><tr><td style="width:1.0%"></td><td style="width:68.083%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:14.308%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:14.309%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="background-color:#E9E9E9;border-left:1pt solid #FFFFFF;border-top:1pt solid #FFFFFF;padding:2px 1pt 2px 1.49pt;text-align:left;text-indent:-0.49pt;vertical-align:middle"><font style="color:#02a5a5;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Tax assets and liabilities (Millions of Euros)</font></td><td colspan="3" style="background-color:#E9E9E9;border-top:1pt solid #FFFFFF;padding:0 1pt 0 1.49pt;text-indent:-0.49pt"></td><td colspan="3" style="background-color:#E9E9E9;border-top:1pt solid #FFFFFF;padding:0 1pt 0 1.49pt;text-indent:-0.49pt"></td></tr><tr><td colspan="3" style="border-left:1pt solid #FFFFFF;border-top:1pt solid #FFFFFF;padding:0 1pt 0 1.18pt;text-indent:-0.18pt"></td><td colspan="3" style="border-top:1pt solid #FFFFFF;padding:2px 1.18pt 2px 1pt;text-align:right;text-indent:-0.18pt;vertical-align:middle"><font style="color:#072146;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:120%">March <br>2025</font></td><td colspan="3" style="border-top:1pt solid #FFFFFF;padding:2px 1.18pt 2px 1pt;text-align:right;text-indent:-0.18pt;vertical-align:middle"><font style="color:#072146;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:120%">December <br>2024</font></td></tr><tr><td colspan="3" style="border-top:1pt solid #072146;padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#004481;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Tax assets</font></td><td colspan="3" style="border-top:1pt solid #072146;padding:0 1.18pt 0 1pt;text-indent:-0.18pt"></td><td colspan="3" style="border-top:1pt solid #072146;padding:0 1.18pt 0 1pt;text-indent:-0.18pt"></td></tr><tr><td colspan="3" style="border-left:1pt solid #FFFFFF;border-top:1pt solid #929292;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Current tax assets</font></td><td colspan="3" style="border-left:1pt solid #FFFFFF;border-top:1pt solid #929292;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">3,114</font></td><td colspan="3" style="border-left:1pt solid #FFFFFF;border-right:1pt solid #FFFFFF;border-top:1pt solid #929292;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">4,295</font></td></tr><tr><td colspan="3" style="border-left:1pt solid #FFFFFF;border-top:1pt solid #FFFFFF;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Deferred tax assets</font></td><td colspan="3" style="border-left:1pt solid #FFFFFF;border-top:1pt solid #FFFFFF;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">13,783</font></td><td colspan="3" style="border-left:1pt solid #FFFFFF;border-right:1pt solid #FFFFFF;border-top:1pt solid #FFFFFF;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">14,354</font></td></tr><tr><td colspan="3" style="background-color:#5AC4C4;border-top:1pt solid #FFFFFF;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#ffffff;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Total</font></td><td colspan="3" style="background-color:#5AC4C4;border-top:1pt solid #FFFFFF;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#ffffff;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:120%">16,897</font></td><td colspan="3" style="background-color:#5AC4C4;border-top:1pt solid #FFFFFF;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#ffffff;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:120%">18,650</font></td></tr><tr><td colspan="3" style="border-top:1pt solid #FFFFFF;padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#004481;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Tax liabilities</font></td><td colspan="3" style="border-top:1pt solid #FFFFFF;padding:0 1.18pt 0 1pt;text-indent:-0.18pt"></td><td colspan="3" style="border-top:1pt solid #FFFFFF;padding:0 1.18pt 0 1pt;text-indent:-0.18pt"></td></tr><tr><td colspan="3" style="border-left:1pt solid #FFFFFF;border-top:1pt solid #929292;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Current tax liabilities</font></td><td colspan="3" style="border-left:1pt solid #FFFFFF;border-top:1pt solid #929292;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">986</font></td><td colspan="3" style="border-left:1pt solid #FFFFFF;border-right:1pt solid #FFFFFF;border-top:1pt solid #929292;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">575</font></td></tr><tr><td colspan="3" style="border-left:1pt solid #FFFFFF;border-top:1pt solid #FFFFFF;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Deferred tax liabilities</font></td><td colspan="3" style="border-left:1pt solid #FFFFFF;border-top:1pt solid #FFFFFF;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">2,388</font></td><td colspan="3" style="border-left:1pt solid #FFFFFF;border-right:1pt solid #FFFFFF;border-top:1pt solid #FFFFFF;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">2,458</font></td></tr><tr><td colspan="3" style="background-color:#5AC4C4;border-bottom:1pt solid #FFFFFF;border-top:1pt solid #FFFFFF;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#ffffff;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Total </font></td><td colspan="3" style="background-color:#5AC4C4;border-bottom:1pt solid #FFFFFF;border-top:1pt solid #FFFFFF;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#ffffff;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:120%">3,373</font></td><td colspan="3" style="background-color:#5AC4C4;border-bottom:1pt solid #FFFFFF;border-top:1pt solid #FFFFFF;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#ffffff;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:120%">3,033</font></td></tr></table></div><div style="height:42.52pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="margin-bottom:10pt;margin-top:10pt;text-align:center"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:130%">F-23</font></div></div></div><hr style="page-break-after:always"><div style="min-height:42.52pt;width:100%"><div style="margin-bottom:6pt;margin-top:0.03pt;padding-left:0.56pt;text-align:justify"><font><br></font></div></div><div style="margin-bottom:10pt;margin-top:10pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:130%">As of March 31, 2025, tax liabilities include the accrual corresponding to the first quarter of 2025 of the new tax on the interest margin and commissions of certain financial institutions, including BBVA, S.A., regulated by the Ninth Final Provision of Law 7&#47;2024.</font></div><div id="i4a27b892ded141958e799b2ba3298497_223"></div><div style="margin-bottom:10pt;margin-top:10pt;text-align:justify"><font style="color:#072146;font-family:'Arial',sans-serif;font-size:11pt;font-weight:700;line-height:130%">18.&#160;&#160;&#160;&#160;Other assets and liabilities</font></div><div style="margin-bottom:2pt;margin-top:2pt;text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.893%"><tr><td style="width:1.0%"></td><td style="width:68.083%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:14.308%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:14.309%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="background-color:#E9E9E9;border-left:1pt solid #FFFFFF;border-top:1pt solid #FFFFFF;padding:2px 1pt 2px 1.49pt;text-align:left;text-indent:-0.49pt;vertical-align:middle"><font style="color:#02a5a5;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Other assets and liabilities (Millions of Euros)</font></td><td colspan="3" style="background-color:#E9E9E9;border-top:1pt solid #FFFFFF;padding:0 1pt 0 1.49pt;text-indent:-0.49pt"></td><td colspan="3" style="background-color:#E9E9E9;border-top:1pt solid #FFFFFF;padding:0 1pt 0 1.49pt;text-indent:-0.49pt"></td></tr><tr><td colspan="3" style="border-left:1pt solid #FFFFFF;padding:0 1pt 0 1.18pt;text-indent:-0.18pt"></td><td colspan="3" style="border-top:1pt solid #FFFFFF;padding:2px 1pt;text-align:right;text-indent:-0.18pt;vertical-align:middle"><font style="color:#072146;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:120%">March </font><div><font style="color:#072146;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:120%">2025</font></div></td><td colspan="3" style="border-top:1pt solid #FFFFFF;padding:2px 1pt;text-align:right;text-indent:-0.18pt;vertical-align:middle"><font style="color:#072146;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:120%">December </font><div><font style="color:#072146;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:120%">2024</font></div></td></tr><tr><td colspan="3" style="border-top:1pt solid #000;padding:2px 1pt 2px 1.18pt;text-align:left;text-indent:-0.18pt;vertical-align:middle"><font style="color:#004481;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:120%">ASSETS</font></td><td colspan="3" style="border-top:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000;padding:0 1pt"></td></tr><tr><td colspan="3" style="border-left:1pt solid #FFFFFF;border-top:1pt solid #C0C0C0;padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Inventories</font></td><td colspan="3" style="border-top:1pt solid #C0C0C0;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">1,302</font></td><td colspan="3" style="border-top:1pt solid #C0C0C0;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">1,299</font></td></tr><tr><td colspan="3" style="border-left:1pt solid #FFFFFF;border-top:1pt solid #FFFFFF;padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Transactions in progress</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">402</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">482</font></td></tr><tr><td colspan="3" style="border-left:1pt solid #FFFFFF;border-top:1pt solid #FFFFFF;padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Accruals</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">2,125</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">1,862</font></td></tr><tr><td colspan="3" style="border-left:1pt solid #FFFFFF;border-top:1pt solid #FFFFFF;padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Other items</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">1,367</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">1,881</font></td></tr><tr><td colspan="3" style="background-color:#5AC4C4;border-top:1pt solid #FFFFFF;padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#ffffff;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Total</font></td><td colspan="3" style="background-color:#5AC4C4;border-top:1pt solid #FFFFFF;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#ffffff;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:120%">5,197</font></td><td colspan="3" style="background-color:#5AC4C4;border-top:1pt solid #FFFFFF;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#ffffff;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:120%">5,525</font></td></tr><tr><td colspan="3" style="border-top:1pt solid #FFFFFF;padding:2px 1pt 2px 1.18pt;text-align:left;text-indent:-0.18pt;vertical-align:middle"><font style="color:#004481;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:120%">LIABILITIES</font></td><td colspan="3" style="border-top:1pt solid #FFFFFF;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #FFFFFF;padding:0 1pt"></td></tr><tr><td colspan="3" style="border-left:1pt solid #FFFFFF;border-top:1pt solid #929292;padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Transactions in progress</font></td><td colspan="3" style="border-top:1pt solid #929292;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">210</font></td><td colspan="3" style="border-top:1pt solid #929292;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">306</font></td></tr><tr><td colspan="3" style="border-left:1pt solid #FFFFFF;padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Accruals</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">2,583</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">3,066</font></td></tr><tr><td colspan="3" style="border-left:1pt solid #FFFFFF;border-top:1pt solid #FFFFFF;padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Other items</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">3,208</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">1,997</font></td></tr><tr><td colspan="3" style="background-color:#5AC4C4;border-top:1pt solid #FFFFFF;padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#ffffff;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Total</font></td><td colspan="3" style="background-color:#5AC4C4;border-top:1pt solid #FFFFFF;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#ffffff;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:120%">6,001</font></td><td colspan="3" style="background-color:#5AC4C4;border-top:1pt solid #FFFFFF;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#ffffff;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:120%">5,370</font></td></tr></table></div><div id="i4a27b892ded141958e799b2ba3298497_226"></div><div style="margin-bottom:10pt;margin-top:10pt;text-align:justify"><font style="color:#072146;font-family:'Arial',sans-serif;font-size:11pt;font-weight:700;line-height:130%">19.&#160;&#160;&#160;&#160;Non-current assets and disposal groups classified as held for sale and liabilities included in disposal groups classified as held for sale</font></div><div style="margin-bottom:2pt;margin-top:2pt;text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.893%"><tr><td style="width:1.0%"></td><td style="width:68.083%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:14.308%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:14.309%"></td><td style="width:0.1%"></td></tr><tr><td colspan="9" style="background-color:#e9e9e9;padding:2px 1.49pt 2px 1pt;text-align:justify;text-indent:-0.49pt;vertical-align:middle"><font style="color:#02a5a5;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Non-current assets and disposal groups classified as held for sale and liabilities included in disposal groups classified as held for sale. Breakdown by items (Millions of Euros)</font></td></tr><tr><td colspan="3" style="border-left:1pt solid #FFFFFF;padding:0 1pt 0 1.18pt;text-indent:-0.18pt"></td><td colspan="3" style="border-top:1pt solid #FFFFFF;padding:2px 1.18pt 2px 1pt;text-align:right;text-indent:-0.18pt;vertical-align:middle"><font style="color:#072146;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:120%">March </font><div><font style="color:#072146;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:120%">2025</font></div></td><td colspan="3" style="border-top:1pt solid #FFFFFF;padding:2px 1.18pt 2px 1pt;text-align:right;text-indent:-0.18pt;vertical-align:middle"><font style="color:#072146;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:120%">December </font><div><font style="color:#072146;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:120%">2024</font></div></td></tr><tr><td colspan="3" style="border-top:1pt solid #000;padding:2px 1pt 2px 1.18pt;text-align:left;text-indent:-0.18pt;vertical-align:middle"><font style="color:#004481;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:120%">ASSETS</font></td><td colspan="3" style="border-top:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000;padding:0 1pt"></td></tr><tr><td colspan="3" style="border-left:1pt solid #FFFFFF;border-top:1pt solid #929292;padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Foreclosures and recoveries</font></td><td colspan="3" style="border-left:1pt solid #FFFFFF;border-top:1pt solid #929292;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">819</font></td><td colspan="3" style="border-left:1pt solid #FFFFFF;border-right:1pt solid #FFFFFF;border-top:1pt solid #929292;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">847</font></td></tr><tr><td colspan="3" style="border-left:1pt solid #FFFFFF;border-top:1pt solid #FFFFFF;padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Other assets from tangible assets</font></td><td colspan="3" style="border-left:1pt solid #FFFFFF;border-top:1pt solid #FFFFFF;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">587</font></td><td colspan="3" style="border-left:1pt solid #FFFFFF;border-right:1pt solid #FFFFFF;border-top:1pt solid #FFFFFF;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">618</font></td></tr><tr><td colspan="3" style="border-left:1pt solid #FFFFFF;border-top:1pt solid #FFFFFF;padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Companies held for sale</font></td><td colspan="3" style="border-left:1pt solid #FFFFFF;border-top:1pt solid #FFFFFF;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">55</font></td><td colspan="3" style="border-left:1pt solid #FFFFFF;border-right:1pt solid #FFFFFF;border-top:1pt solid #FFFFFF;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">55</font></td></tr><tr><td colspan="3" style="border-left:1pt solid #FFFFFF;border-top:1pt solid #FFFFFF;padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Accrued amortization</font></td><td colspan="3" style="border-left:1pt solid #FFFFFF;border-top:1pt solid #FFFFFF;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(49)</font></td><td colspan="3" style="border-left:1pt solid #FFFFFF;border-right:1pt solid #FFFFFF;border-top:1pt solid #FFFFFF;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(46)</font></td></tr><tr><td colspan="3" style="border-left:1pt solid #FFFFFF;border-top:1pt solid #FFFFFF;padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Impairment losses</font></td><td colspan="3" style="border-left:1pt solid #FFFFFF;border-top:1pt solid #FFFFFF;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(605)</font></td><td colspan="3" style="border-left:1pt solid #FFFFFF;border-right:1pt solid #FFFFFF;border-top:1pt solid #FFFFFF;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(645)</font></td></tr><tr><td colspan="3" style="background-color:#5AC4C4;border-top:1pt solid #FFFFFF;padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#ffffff;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Total  </font></td><td colspan="3" style="background-color:#5AC4C4;border-top:1pt solid #FFFFFF;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#ffffff;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:120%">807</font></td><td colspan="3" style="background-color:#5AC4C4;border-top:1pt solid #FFFFFF;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#ffffff;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:120%">828</font></td></tr><tr><td colspan="3" style="border-top:1pt solid #FFFFFF;padding:2px 1pt 2px 1.18pt;text-align:left;text-indent:-0.18pt;vertical-align:middle"><font style="color:#004481;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:120%">LIABILITIES</font></td><td colspan="3" style="border-top:1pt solid #FFFFFF;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #FFFFFF;padding:0 1pt"></td></tr><tr><td colspan="3" style="border-left:1pt solid #FFFFFF;border-top:1pt solid #929292;padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Companies held for sale</font></td><td colspan="3" style="border-left:1pt solid #FFFFFF;border-top:1pt solid #929292;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">&#8212;</font></td><td colspan="3" style="border-left:1pt solid #FFFFFF;border-right:1pt solid #FFFFFF;border-top:1pt solid #929292;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">&#8212;</font></td></tr><tr><td colspan="3" style="background-color:#5AC4C4;padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#ffffff;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Total  </font></td><td colspan="3" style="background-color:#5AC4C4;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#ffffff;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:120%">&#8212;</font></td><td colspan="3" style="background-color:#5AC4C4;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#ffffff;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:120%">&#8212;</font></td></tr></table></div><div style="height:42.52pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="margin-bottom:10pt;margin-top:10pt;text-align:center"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:130%">F-24</font></div></div></div><div id="i4a27b892ded141958e799b2ba3298497_229"></div><hr style="page-break-after:always"><div style="min-height:42.52pt;width:100%"><div style="margin-bottom:6pt;margin-top:0.03pt;padding-left:0.56pt;text-align:justify"><font><br></font></div></div><div style="margin-bottom:10pt;margin-top:10pt;text-align:justify"><font style="color:#072146;font-family:'Arial',sans-serif;font-size:11pt;font-weight:700;line-height:130%">20.&#160;&#160;&#160;&#160;Financial liabilities at amortized cost</font></div><div id="i4a27b892ded141958e799b2ba3298497_232"></div><div style="margin-bottom:10pt;margin-top:10pt;text-align:justify"><font style="color:#004580;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:130%">20.1&#160;&#160;&#160;&#160;Breakdown of the balance </font></div><div style="margin-bottom:6pt;margin-top:10pt;text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.893%"><tr><td style="width:1.0%"></td><td style="width:57.913%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.223%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:14.308%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:14.156%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="background-color:#E9E9E9;padding:2px 1pt 2px 1.49pt;text-align:left;text-indent:-0.49pt;vertical-align:middle"><font style="color:#02a5a5;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Financial liabilities at amortized cost (Millions of Euros)</font></td><td colspan="3" style="background-color:#E9E9E9;border-top:1pt solid #FFFFFF;padding:0 1pt 0 1.49pt;text-indent:-0.49pt"></td><td colspan="3" style="background-color:#E9E9E9;border-top:1pt solid #FFFFFF;padding:0 1pt 0 1.49pt;text-indent:-0.49pt"></td><td colspan="3" style="background-color:#E9E9E9;border-top:1pt solid #FFFFFF;padding:0 1pt"></td></tr><tr><td colspan="3" style="border-left:1pt solid #FFFFFF;padding:0 1pt 0 1.18pt;text-indent:-0.18pt"></td><td colspan="3" style="border-top:1pt solid #FFFFFF;padding:2px 1pt;text-align:center;text-indent:-0.18pt;vertical-align:middle"><font style="color:#072146;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Notes</font></td><td colspan="3" style="border-top:1pt solid #FFFFFF;padding:2px 1.18pt 2px 1pt;text-align:right;text-indent:-0.18pt;vertical-align:middle"><font style="color:#072146;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:120%">March <br>2025</font></td><td colspan="3" style="border-top:1pt solid #FFFFFF;padding:2px 1.18pt 2px 1pt;text-align:right;text-indent:-0.18pt;vertical-align:middle"><font style="color:#072146;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:120%">December <br>2024</font></td></tr><tr><td colspan="3" style="border-top:1pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Deposits</font></td><td colspan="3" style="border-left:1pt solid #FFFFFF;border-top:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-left:1pt solid #FFFFFF;border-top:1pt solid #000;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">503,163</font></td><td colspan="3" style="border-left:1pt solid #FFFFFF;border-right:1pt solid #FFFFFF;border-top:1pt solid #000;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">496,720</font></td></tr><tr><td colspan="3" style="border-top:1pt solid #FFFFFF;padding:2px 1pt 2px 13pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Deposits from central banks</font></td><td colspan="3" style="border-left:1pt solid #FFFFFF;border-top:1pt solid #FFFFFF;padding:0 1pt"></td><td colspan="3" style="border-left:1pt solid #FFFFFF;border-top:1pt solid #FFFFFF;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">16,421</font></td><td colspan="3" style="border-left:1pt solid #FFFFFF;border-right:1pt solid #FFFFFF;border-top:1pt solid #FFFFFF;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">14,668</font></td></tr><tr><td colspan="3" style="border-top:1pt solid #FFFFFF;padding:2px 1pt 2px 25pt;text-align:left;vertical-align:middle"><font style="color:#929292;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Demand deposits</font></td><td colspan="3" style="border-left:1pt solid #FFFFFF;border-top:1pt solid #FFFFFF;padding:0 1pt 0 7pt"></td><td colspan="3" style="border-left:1pt solid #FFFFFF;border-top:1pt solid #FFFFFF;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#929292;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">1,472</font></td><td colspan="3" style="border-left:1pt solid #FFFFFF;border-right:1pt solid #FFFFFF;border-top:1pt solid #FFFFFF;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#929292;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">657</font></td></tr><tr><td colspan="3" style="border-top:1pt solid #FFFFFF;padding:2px 1pt 2px 25pt;text-align:left;vertical-align:middle"><font style="color:#929292;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Time deposits and other</font></td><td colspan="3" style="border-left:1pt solid #FFFFFF;border-top:1pt solid #FFFFFF;padding:0 1pt 0 7pt"></td><td colspan="3" style="background-color:#ffffff;border-left:1pt solid #FFFFFF;border-top:1pt solid #FFFFFF;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#929292;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">8,146</font></td><td colspan="3" style="background-color:#ffffff;border-left:1pt solid #FFFFFF;border-right:1pt solid #FFFFFF;border-top:1pt solid #FFFFFF;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#929292;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">6,369</font></td></tr><tr><td colspan="3" style="border-top:1pt solid #FFFFFF;padding:2px 1pt 2px 25pt;text-align:left;vertical-align:middle"><font style="color:#929292;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Repurchase agreements</font></td><td colspan="3" style="border-left:1pt solid #FFFFFF;border-top:1pt solid #FFFFFF;padding:0 1pt 0 7pt"></td><td colspan="3" style="background-color:#ffffff;border-left:1pt solid #FFFFFF;border-top:1pt solid #FFFFFF;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#929292;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">6,803</font></td><td colspan="3" style="background-color:#ffffff;border-left:1pt solid #FFFFFF;border-right:1pt solid #FFFFFF;border-top:1pt solid #FFFFFF;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#929292;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">7,642</font></td></tr><tr><td colspan="3" style="border-top:1pt solid #FFFFFF;padding:2px 1pt 2px 13pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Deposits from credit institutions</font></td><td colspan="3" style="border-left:1pt solid #FFFFFF;border-top:1pt solid #FFFFFF;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-left:1pt solid #FFFFFF;border-top:1pt solid #FFFFFF;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">31,034</font></td><td colspan="3" style="background-color:#ffffff;border-left:1pt solid #FFFFFF;border-right:1pt solid #FFFFFF;border-top:1pt solid #FFFFFF;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">34,406</font></td></tr><tr><td colspan="3" style="border-top:1pt solid #FFFFFF;padding:2px 1pt 2px 25pt;text-align:left;vertical-align:middle"><font style="color:#929292;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Demand deposits</font></td><td colspan="3" style="border-left:1pt solid #FFFFFF;border-top:1pt solid #FFFFFF;padding:0 1pt 0 7pt"></td><td colspan="3" style="background-color:#ffffff;border-left:1pt solid #FFFFFF;border-top:1pt solid #FFFFFF;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#929292;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">5,588</font></td><td colspan="3" style="background-color:#ffffff;border-left:1pt solid #FFFFFF;border-right:1pt solid #FFFFFF;border-top:1pt solid #FFFFFF;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#929292;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">6,977</font></td></tr><tr><td colspan="3" style="border-top:1pt solid #FFFFFF;padding:2px 1pt 2px 25pt;text-align:left;vertical-align:middle"><font style="color:#929292;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Time deposits and other</font></td><td colspan="3" style="border-left:1pt solid #FFFFFF;border-top:1pt solid #FFFFFF;padding:0 1pt 0 7pt"></td><td colspan="3" style="background-color:#ffffff;border-left:1pt solid #FFFFFF;border-top:1pt solid #FFFFFF;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#929292;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">15,698</font></td><td colspan="3" style="background-color:#ffffff;border-left:1pt solid #FFFFFF;border-right:1pt solid #FFFFFF;border-top:1pt solid #FFFFFF;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#929292;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">15,049</font></td></tr><tr><td colspan="3" style="border-top:1pt solid #FFFFFF;padding:2px 1pt 2px 25pt;text-align:left;vertical-align:middle"><font style="color:#929292;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Repurchase agreements</font></td><td colspan="3" style="border-left:1pt solid #FFFFFF;border-top:1pt solid #FFFFFF;padding:0 1pt 0 7pt"></td><td colspan="3" style="background-color:#ffffff;border-left:1pt solid #FFFFFF;border-top:1pt solid #FFFFFF;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#929292;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">9,748</font></td><td colspan="3" style="background-color:#ffffff;border-left:1pt solid #FFFFFF;border-right:1pt solid #FFFFFF;border-top:1pt solid #FFFFFF;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#929292;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">12,380</font></td></tr><tr><td colspan="3" style="border-top:1pt solid #FFFFFF;padding:2px 1pt 2px 13pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Customer deposits</font></td><td colspan="3" style="border-left:1pt solid #FFFFFF;border-top:1pt solid #FFFFFF;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-left:1pt solid #FFFFFF;border-top:1pt solid #FFFFFF;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">455,708</font></td><td colspan="3" style="background-color:#ffffff;border-left:1pt solid #FFFFFF;border-right:1pt solid #FFFFFF;border-top:1pt solid #FFFFFF;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">447,646</font></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 25pt;text-align:left;vertical-align:middle"><font style="color:#929292;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Demand deposits</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#929292;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">330,383</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#929292;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">331,780</font></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 25pt;text-align:left;vertical-align:middle"><font style="color:#929292;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Time deposits and other</font></td><td colspan="3" style="padding:0 1pt 0 7pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#929292;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">112,164</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#929292;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">106,658</font></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 25pt;text-align:left;vertical-align:middle"><font style="color:#929292;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Repurchase agreements</font></td><td colspan="3" style="padding:0 1pt 0 7pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#929292;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">13,160</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#929292;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">9,208</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Debt securities issued</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">71,987</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">69,867</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Other financial liabilities</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">19,601</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">17,753</font></td></tr><tr><td colspan="3" style="background-color:#5AC4C4;border-bottom:1pt solid #FFFFFF;border-top:1pt solid #FFFFFF;padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#ffffff;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Total </font></td><td colspan="3" style="background-color:#5AC4C4;border-bottom:1pt solid #FFFFFF;border-top:1pt solid #FFFFFF;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#ffffff;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:120%">7</font></td><td colspan="3" style="background-color:#5AC4C4;border-bottom:1pt solid #FFFFFF;border-top:1pt solid #FFFFFF;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#ffffff;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:120%">594,752</font></td><td colspan="3" style="background-color:#5AC4C4;border-bottom:1pt solid #FFFFFF;border-top:1pt solid #FFFFFF;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#ffffff;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:120%">584,339</font></td></tr></table></div><div style="margin-bottom:10pt;margin-top:10pt;text-align:justify"><font><br></font></div><div id="i4a27b892ded141958e799b2ba3298497_235"></div><div style="margin-bottom:10pt;margin-top:10pt;text-align:justify"><font style="color:#004580;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:130%">20.2&#160;&#160;&#160;&#160;Debt securities issued</font></div><div style="text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.893%"><tr><td style="width:1.0%"></td><td style="width:68.083%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:14.308%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:14.309%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="background-color:#E9E9E9;border-left:1pt solid #FFFFFF;border-top:1pt solid #FFFFFF;padding:2px 1pt 2px 1.49pt;text-align:left;text-indent:-0.49pt;vertical-align:middle"><font style="color:#02a5a5;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Debt securities issued (Millions of Euros)</font></td><td colspan="3" style="background-color:#E9E9E9;border-top:1pt solid #FFFFFF;padding:0 1pt 0 1.49pt;text-indent:-0.49pt"></td><td colspan="3" style="background-color:#E9E9E9;border-top:1pt solid #FFFFFF;padding:0 1pt 0 1.49pt;text-indent:-0.49pt"></td></tr><tr><td colspan="3" style="border-left:1pt solid #FFFFFF;padding:0 1pt 0 1.18pt;text-indent:-0.18pt"></td><td colspan="3" style="padding:2px 1.18pt 2px 1pt;text-align:right;text-indent:-0.18pt;vertical-align:middle"><font style="color:#072146;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:120%">March <br>2025</font></td><td colspan="3" style="padding:2px 1.18pt 2px 1pt;text-align:right;text-indent:-0.18pt;vertical-align:middle"><font style="color:#072146;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:120%">December <br>2024</font></td></tr><tr><td colspan="3" style="border-top:1pt solid #072146;padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#004481;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:120%">In Euros</font></td><td colspan="3" style="border-top:1pt solid #072146;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#004481;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:120%">37,011</font></td><td colspan="3" style="border-top:1pt solid #072146;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#004481;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:120%">37,118</font></td></tr><tr><td colspan="3" style="border-left:1pt solid #FFFFFF;border-top:1pt solid #b6b6b6;padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Promissory bills and notes</font></td><td colspan="3" style="border-left:1pt solid #FFFFFF;border-top:1pt solid #b6b6b6;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">1,616</font></td><td colspan="3" style="border-left:1pt solid #FFFFFF;border-right:1pt solid #FFFFFF;border-top:1pt solid #b6b6b6;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">1,360</font></td></tr><tr><td colspan="3" style="border-left:1pt solid #FFFFFF;border-top:1pt solid #FFFFFF;padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Non-convertible bonds and debentures</font></td><td colspan="3" style="border-left:1pt solid #FFFFFF;border-top:1pt solid #FFFFFF;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">17,738</font></td><td colspan="3" style="border-left:1pt solid #FFFFFF;border-right:1pt solid #FFFFFF;border-top:1pt solid #FFFFFF;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">17,788</font></td></tr><tr><td colspan="3" style="border-left:1pt solid #FFFFFF;border-top:1pt solid #FFFFFF;padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Covered bonds </font></td><td colspan="3" style="border-left:1pt solid #FFFFFF;border-top:1pt solid #FFFFFF;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">3,740</font></td><td colspan="3" style="border-left:1pt solid #FFFFFF;border-right:1pt solid #FFFFFF;border-top:1pt solid #FFFFFF;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">5,825</font></td></tr><tr><td colspan="3" style="border-left:1pt solid #FFFFFF;border-top:1pt solid #FFFFFF;padding:2px 1pt;text-align:left;vertical-align:middle"><div style="margin-bottom:0.1pt"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Hybrid financial instruments </font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:5.2pt;font-weight:400;line-height:120%;position:relative;top:-2.8pt;vertical-align:baseline">(1)</font></div></td><td colspan="3" style="border-left:1pt solid #FFFFFF;border-top:1pt solid #FFFFFF;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">541</font></td><td colspan="3" style="border-left:1pt solid #FFFFFF;border-right:1pt solid #FFFFFF;border-top:1pt solid #FFFFFF;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">519</font></td></tr><tr><td colspan="3" style="border-left:1pt solid #FFFFFF;border-top:1pt solid #FFFFFF;padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Securitization bonds</font></td><td colspan="3" style="border-left:1pt solid #FFFFFF;border-top:1pt solid #FFFFFF;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">1,765</font></td><td colspan="3" style="border-left:1pt solid #FFFFFF;border-right:1pt solid #FFFFFF;border-top:1pt solid #FFFFFF;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">2,201</font></td></tr><tr><td colspan="3" style="border-left:1pt solid #FFFFFF;border-top:1pt solid #FFFFFF;padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Wholesale funding</font></td><td colspan="3" style="border-left:1pt solid #FFFFFF;border-top:1pt solid #FFFFFF;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">3,277</font></td><td colspan="3" style="border-left:1pt solid #FFFFFF;border-right:1pt solid #FFFFFF;border-top:1pt solid #FFFFFF;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">1,030</font></td></tr><tr><td colspan="3" style="border-left:1pt solid #FFFFFF;border-top:1pt solid #FFFFFF;padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Subordinated liabilities</font></td><td colspan="3" style="border-left:1pt solid #FFFFFF;border-top:1pt solid #FFFFFF;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">8,333</font></td><td colspan="3" style="border-left:1pt solid #FFFFFF;border-right:1pt solid #FFFFFF;border-top:1pt solid #FFFFFF;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">8,395</font></td></tr><tr><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #FFFFFF;padding:2px 1pt 2px 7pt;text-align:left;vertical-align:middle"><font style="color:#666666;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Convertible perpetual certificates</font></td><td colspan="3" style="background-color:#ffffff;border-left:1pt solid #FFFFFF;border-top:1pt solid #FFFFFF;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#929292;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">2,750</font></td><td colspan="3" style="background-color:#ffffff;border-left:1pt solid #FFFFFF;border-right:1pt solid #FFFFFF;border-top:1pt solid #FFFFFF;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#929292;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">2,750</font></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #FFFFFF;padding:2px 1pt 2px 7pt;text-align:left;vertical-align:middle"><font style="color:#666666;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Other non-convertible subordinated liabilities</font></td><td colspan="3" style="background-color:#ffffff;border-left:1pt solid #FFFFFF;border-top:1pt solid #FFFFFF;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#929292;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">5,583</font></td><td colspan="3" style="background-color:#ffffff;border-left:1pt solid #FFFFFF;border-right:1pt solid #FFFFFF;border-top:1pt solid #FFFFFF;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#929292;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">5,645</font></td></tr><tr><td colspan="3" style="border-top:1pt solid #FFFFFF;padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#004481;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:120%">In foreign currencies</font></td><td colspan="3" style="border-top:1pt solid #FFFFFF;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#004481;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:120%">34,976</font></td><td colspan="3" style="border-top:1pt solid #FFFFFF;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#004481;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:120%">32,748</font></td></tr><tr><td colspan="3" style="background-color:#ffffff;border-left:1pt solid #FFFFFF;border-top:1pt solid #b6b6b6;padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Promissory bills and notes</font></td><td colspan="3" style="background-color:#ffffff;border-left:1pt solid #FFFFFF;border-top:1pt solid #b6b6b6;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">2,797</font></td><td colspan="3" style="background-color:#ffffff;border-left:1pt solid #FFFFFF;border-right:1pt solid #FFFFFF;border-top:1pt solid #b6b6b6;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">2,962</font></td></tr><tr><td colspan="3" style="background-color:#ffffff;border-left:1pt solid #FFFFFF;border-top:1pt solid #FFFFFF;padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Non-convertible bonds and debentures</font></td><td colspan="3" style="background-color:#ffffff;border-left:1pt solid #FFFFFF;border-top:1pt solid #FFFFFF;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">12,961</font></td><td colspan="3" style="background-color:#ffffff;border-left:1pt solid #FFFFFF;border-right:1pt solid #FFFFFF;border-top:1pt solid #FFFFFF;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">12,136</font></td></tr><tr><td colspan="3" style="background-color:#ffffff;border-left:1pt solid #FFFFFF;border-top:1pt solid #FFFFFF;padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Covered bonds</font></td><td colspan="3" style="background-color:#ffffff;border-left:1pt solid #FFFFFF;border-top:1pt solid #FFFFFF;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">99</font></td><td colspan="3" style="background-color:#ffffff;border-left:1pt solid #FFFFFF;border-right:1pt solid #FFFFFF;border-top:1pt solid #FFFFFF;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">95</font></td></tr><tr><td colspan="3" style="background-color:#ffffff;border-left:1pt solid #FFFFFF;border-top:1pt solid #FFFFFF;padding:2px 1pt;text-align:left;vertical-align:middle"><div style="margin-bottom:0.1pt"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Hybrid financial instruments </font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:5.2pt;font-weight:400;line-height:120%;position:relative;top:-2.8pt;vertical-align:baseline">(1)</font></div></td><td colspan="3" style="background-color:#ffffff;border-left:1pt solid #FFFFFF;border-top:1pt solid #FFFFFF;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">6,119</font></td><td colspan="3" style="background-color:#ffffff;border-left:1pt solid #FFFFFF;border-right:1pt solid #FFFFFF;border-top:1pt solid #FFFFFF;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">5,327</font></td></tr><tr><td colspan="3" style="background-color:#ffffff;border-left:1pt solid #FFFFFF;border-top:1pt solid #FFFFFF;padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Securitization bonds</font></td><td colspan="3" style="background-color:#ffffff;border-left:1pt solid #FFFFFF;border-top:1pt solid #FFFFFF;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">&#8212;</font></td><td colspan="3" style="background-color:#ffffff;border-left:1pt solid #FFFFFF;border-right:1pt solid #FFFFFF;border-top:1pt solid #FFFFFF;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">&#8212;</font></td></tr><tr><td colspan="3" style="background-color:#ffffff;border-left:1pt solid #FFFFFF;border-top:1pt solid #FFFFFF;padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Wholesale funding</font></td><td colspan="3" style="background-color:#ffffff;border-left:1pt solid #FFFFFF;border-top:1pt solid #FFFFFF;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">1,189</font></td><td colspan="3" style="background-color:#ffffff;border-left:1pt solid #FFFFFF;border-right:1pt solid #FFFFFF;border-top:1pt solid #FFFFFF;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">1,067</font></td></tr><tr><td colspan="3" style="background-color:#ffffff;border-left:1pt solid #FFFFFF;border-top:1pt solid #FFFFFF;padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Subordinated liabilities</font></td><td colspan="3" style="background-color:#ffffff;border-left:1pt solid #FFFFFF;border-top:1pt solid #FFFFFF;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">11,811</font></td><td colspan="3" style="background-color:#ffffff;border-left:1pt solid #FFFFFF;border-right:1pt solid #FFFFFF;border-top:1pt solid #FFFFFF;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">11,161</font></td></tr><tr><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #FFFFFF;padding:2px 1pt 2px 7pt;text-align:left;vertical-align:middle"><font style="color:#929292;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Convertible perpetual certificates</font></td><td colspan="3" style="background-color:#ffffff;border-left:1pt solid #FFFFFF;border-top:1pt solid #FFFFFF;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#929292;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">2,774</font></td><td colspan="3" style="background-color:#ffffff;border-left:1pt solid #FFFFFF;border-right:1pt solid #FFFFFF;border-top:1pt solid #FFFFFF;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#929292;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">2,888</font></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="border-top:1pt solid #FFFFFF;padding:2px 1pt 2px 7pt;text-align:left;vertical-align:middle"><font style="color:#929292;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Other non-convertible subordinated liabilities</font></td><td colspan="3" style="border-left:1pt solid #FFFFFF;border-top:1pt solid #FFFFFF;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#929292;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">9,036</font></td><td colspan="3" style="border-left:1pt solid #FFFFFF;border-right:1pt solid #FFFFFF;border-top:1pt solid #FFFFFF;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#929292;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">8,273</font></td></tr><tr><td colspan="3" style="background-color:#5AC4C4;border-bottom:1pt solid #FFFFFF;border-top:1pt solid #FFFFFF;padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#ffffff;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Total</font></td><td colspan="3" style="background-color:#5AC4C4;border-bottom:1pt solid #FFFFFF;border-top:1pt solid #FFFFFF;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#ffffff;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:120%">71,987</font></td><td colspan="3" style="background-color:#5AC4C4;border-bottom:1pt solid #FFFFFF;border-top:1pt solid #FFFFFF;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#ffffff;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:120%">69,867</font></td></tr></table><font style="color:#000000;font-family:'Arial',sans-serif;font-size:6pt;font-weight:400;line-height:130%">(1) Corresponds to structured note issuances with embedded derivatives that have been segregated according to IFRS 9. </font></div><div style="height:42.52pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="margin-bottom:10pt;margin-top:10pt;text-align:center"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:130%">F-25</font></div></div></div><div id="i4a27b892ded141958e799b2ba3298497_238"></div><hr style="page-break-after:always"><div style="min-height:42.52pt;width:100%"><div style="margin-bottom:6pt;margin-top:0.03pt;padding-left:0.56pt;text-align:justify"><font><br></font></div></div><div style="margin-bottom:10pt;margin-top:10pt;text-align:justify"><font style="color:#004580;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:130%">20.3&#160;&#160;&#160;&#160;Other financial liabilities</font></div><div style="margin-bottom:1pt;margin-top:1pt;text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.893%"><tr><td style="width:1.0%"></td><td style="width:68.083%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:14.308%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:14.309%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="background-color:#E9E9E9;border-left:1pt solid #FFFFFF;border-top:1pt solid #FFFFFF;padding:2px 1pt 2px 1.49pt;text-align:left;text-indent:-0.49pt;vertical-align:middle"><font style="color:#02a5a5;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Other financial liabilities (Millions of Euros)</font></td><td colspan="3" style="background-color:#E9E9E9;border-top:1pt solid #FFFFFF;padding:0 1pt 0 1.49pt;text-indent:-0.49pt"></td><td colspan="3" style="background-color:#E9E9E9;border-top:1pt solid #FFFFFF;padding:0 1pt 0 1.49pt;text-indent:-0.49pt"></td></tr><tr><td colspan="3" style="border-left:1pt solid #FFFFFF;padding:0 1.18pt 0 1pt;text-indent:-0.18pt"></td><td colspan="3" style="border-top:1pt solid #FFFFFF;padding:2px 1.18pt 2px 1pt;text-align:right;text-indent:-0.18pt;vertical-align:middle"><font style="color:#072146;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:120%">March <br>2025</font></td><td colspan="3" style="border-top:1pt solid #FFFFFF;padding:2px 1.18pt 2px 1pt;text-align:right;text-indent:-0.18pt;vertical-align:middle"><font style="color:#072146;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:120%">December <br>2024</font></td></tr><tr><td colspan="3" style="border-left:1pt solid #FFFFFF;border-top:1pt solid #072146;padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Lease liabilities</font></td><td colspan="3" style="border-top:1pt solid #072146;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">1,450</font></td><td colspan="3" style="border-top:1pt solid #072146;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">1,467</font></td></tr><tr><td colspan="3" style="border-left:1pt solid #FFFFFF;border-top:1pt solid #FFFFFF;padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Creditors for other financial liabilities</font></td><td colspan="3" style="border-left:1pt solid #FFFFFF;border-top:1pt solid #FFFFFF;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">4,490</font></td><td colspan="3" style="border-left:1pt solid #FFFFFF;border-right:1pt solid #FFFFFF;border-top:1pt solid #FFFFFF;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">4,859</font></td></tr><tr><td colspan="3" style="border-left:1pt solid #FFFFFF;border-top:1pt solid #FFFFFF;padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Collection accounts</font></td><td colspan="3" style="border-left:1pt solid #FFFFFF;border-top:1pt solid #FFFFFF;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">3,896</font></td><td colspan="3" style="border-left:1pt solid #FFFFFF;border-right:1pt solid #FFFFFF;border-top:1pt solid #FFFFFF;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">3,693</font></td></tr><tr><td colspan="3" style="border-left:1pt solid #FFFFFF;border-top:1pt solid #FFFFFF;padding:2px 1pt;text-align:left;vertical-align:middle"><div style="margin-bottom:0.1pt"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Creditors for other payment obligations</font></div></td><td colspan="3" style="border-left:1pt solid #FFFFFF;border-top:1pt solid #FFFFFF;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">9,765</font></td><td colspan="3" style="border-left:1pt solid #FFFFFF;border-right:1pt solid #FFFFFF;border-top:1pt solid #FFFFFF;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">7,734</font></td></tr><tr><td colspan="3" style="background-color:#5AC4C4;padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#ffffff;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Total</font></td><td colspan="3" style="background-color:#5AC4C4;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#ffffff;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:120%">19,601</font></td><td colspan="3" style="background-color:#5AC4C4;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#ffffff;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:120%">17,753</font></td></tr></table></div><div id="i4a27b892ded141958e799b2ba3298497_241"></div><div style="margin-bottom:6pt;margin-top:10pt;text-align:justify"><font style="color:#072146;font-family:'Arial',sans-serif;font-size:11pt;font-weight:700;line-height:130%">21.&#160;&#160;&#160;&#160;Assets and liabilities under insurance and reinsurance contracts</font></div><div style="margin-bottom:10pt;margin-top:10pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:130%">As of March 31, 2025 and December 31, 2024, the balance under the heading &#34;Insurance and reinsurance assets&#34; amounted to &#8364;184 million and &#8364;191 million, respectively.</font></div><div style="margin-bottom:10pt;margin-top:10pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:130%">The breakdown of the balance under the heading &#34;Liabilities under insurance and reinsurance contracts&#34; is as follows&#58;</font></div><div style="margin-bottom:10pt;margin-top:10pt;text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.893%"><tr><td style="width:1.0%"></td><td style="width:68.083%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:14.308%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:14.309%"></td><td style="width:0.1%"></td></tr><tr><td colspan="9" style="background-color:#e9e9e9;padding:2px 1pt 2px 1.49pt;text-align:left;text-indent:-0.49pt;vertical-align:middle"><font style="color:#02a5a5;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Liabilities under insurance and reinsurance contracts (Millions of Euros)</font></td></tr><tr><td colspan="3" style="border-left:0.25pt solid #ffffff;padding:0 1pt 0 1.18pt;text-indent:-0.18pt"></td><td colspan="3" style="padding:2px 1.18pt 2px 1pt;text-align:right;text-indent:-0.18pt;vertical-align:middle"><font style="color:#072146;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:120%">March </font><div><font style="color:#072146;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:120%">2025</font></div></td><td colspan="3" style="padding:2px 1.18pt 2px 1pt;text-align:right;text-indent:-0.18pt;vertical-align:middle"><font style="color:#072146;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:120%">December </font><div><font style="color:#072146;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:120%">2024</font></div></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="border-top:1pt solid #000;padding:2px 1pt 2px 7pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Liabilities for remaining coverage</font></td><td colspan="3" style="border-top:1pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">10,265</font></td><td colspan="3" style="border-top:1pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">9,835</font></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 7pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Liabilities for incurred claims</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">1,127</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">1,146</font></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="background-color:#5AC4C4;border-bottom:1pt solid #FFFFFF;padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#FFFFFF;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Total</font></td><td colspan="3" style="background-color:#5AC4C4;border-bottom:1pt solid #FFFFFF;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#FFFFFF;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:120%">11,392</font></td><td colspan="3" style="background-color:#5AC4C4;border-bottom:1pt solid #FFFFFF;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#FFFFFF;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:120%">10,981</font></td></tr></table></div><div id="i4a27b892ded141958e799b2ba3298497_244"></div><div style="margin-bottom:10pt;margin-top:10pt;text-align:justify"><font style="color:#072146;font-family:'Arial',sans-serif;font-size:11pt;font-weight:700;line-height:130%">22.&#160;&#160;&#160;&#160;Provisions</font></div><div style="margin-bottom:1pt;margin-top:2pt;text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.893%"><tr><td style="width:1.0%"></td><td style="width:68.083%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:14.308%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:14.309%"></td><td style="width:0.1%"></td></tr><tr><td colspan="9" style="background-color:#E9E9E9;border-left:1pt solid #FFFFFF;border-top:1pt solid #FFFFFF;padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#02A5A5;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Provisions. Breakdown by concepts (Millions of Euros)</font></td></tr><tr><td colspan="3" style="border-left:1pt solid #FFFFFF;padding:0 1pt 0 1.18pt;text-indent:-0.18pt"></td><td colspan="3" style="border-top:1pt solid #FFFFFF;padding:2px 1.18pt 2px 1pt;text-align:right;text-indent:-0.18pt;vertical-align:middle"><font style="color:#072146;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:120%">March <br>2025</font></td><td colspan="3" style="border-top:1pt solid #FFFFFF;padding:2px 1.18pt 2px 1pt;text-align:right;text-indent:-0.18pt;vertical-align:middle"><font style="color:#072146;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:120%">December <br>2024</font></td></tr><tr><td colspan="3" style="border-left:1pt solid #FFFFFF;border-top:1pt solid #072146;padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Provisions for pensions and similar obligations</font></td><td colspan="3" style="border-left:1pt solid #FFFFFF;border-top:1pt solid #072146;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">2,173</font></td><td colspan="3" style="border-left:1pt solid #FFFFFF;border-right:1pt solid #FFFFFF;border-top:1pt solid #072146;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">2,348</font></td></tr><tr><td colspan="3" style="border-left:1pt solid #FFFFFF;border-top:1pt solid #FFFFFF;padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Other long term employee benefits</font></td><td colspan="3" style="border-left:1pt solid #FFFFFF;border-top:1pt solid #FFFFFF;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">366</font></td><td colspan="3" style="border-left:1pt solid #FFFFFF;border-right:1pt solid #FFFFFF;border-top:1pt solid #FFFFFF;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">384</font></td></tr><tr><td colspan="3" style="border-left:1pt solid #FFFFFF;border-top:1pt solid #FFFFFF;padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Provisions for taxes and other legal contingencies</font></td><td colspan="3" style="border-left:1pt solid #FFFFFF;border-top:1pt solid #FFFFFF;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">806</font></td><td colspan="3" style="border-left:1pt solid #FFFFFF;border-right:1pt solid #FFFFFF;border-top:1pt solid #FFFFFF;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">791</font></td></tr><tr><td colspan="3" style="border-left:1pt solid #FFFFFF;border-top:1pt solid #FFFFFF;padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Commitments and guarantees given</font></td><td colspan="3" style="border-left:1pt solid #FFFFFF;border-top:1pt solid #FFFFFF;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">633</font></td><td colspan="3" style="border-left:1pt solid #FFFFFF;border-right:1pt solid #FFFFFF;border-top:1pt solid #FFFFFF;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">667</font></td></tr><tr><td colspan="3" style="border-left:1pt solid #FFFFFF;border-top:1pt solid #FFFFFF;padding:2px 1pt;text-align:left;vertical-align:middle"><div style="margin-bottom:0.1pt"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Other provisions </font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:5.2pt;font-weight:400;line-height:120%;position:relative;top:-2.8pt;vertical-align:baseline">(1)</font></div></td><td colspan="3" style="border-left:1pt solid #FFFFFF;border-top:1pt solid #FFFFFF;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">392</font></td><td colspan="3" style="border-left:1pt solid #FFFFFF;border-right:1pt solid #FFFFFF;border-top:1pt solid #FFFFFF;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">429</font></td></tr><tr><td colspan="3" style="background-color:#5AC4C4;padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#FFFFFF;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Total</font></td><td colspan="3" style="background-color:#5AC4C4;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#FFFFFF;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:120%">4,370</font></td><td colspan="3" style="background-color:#5AC4C4;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#FFFFFF;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:120%">4,619</font></td></tr></table></div><div style="margin-bottom:1pt;margin-top:2pt;padding-left:0.56pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:6pt;font-weight:400;line-height:120%">(1) Individually non-significant provisions for various concepts and corresponding to different geographical areas.</font></div><div id="i4a27b892ded141958e799b2ba3298497_247"></div><div style="margin-bottom:10pt;margin-top:10pt;text-align:justify"><font style="color:#072146;font-family:'Arial',sans-serif;font-size:11pt;font-weight:700;line-height:130%">23.&#160;&#160;&#160;&#160;Pension and other post-employment commitments</font></div><div style="margin-bottom:10pt;margin-top:10pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:130%">The Group sponsors defined-contribution plans for the majority of its active employees, with the plans in Spain and Mexico being the most significant. Most of the defined benefit plans are for individuals already retired, and are closed to new employees, the most significant being those in Spain, Mexico and Turkey. In Mexico, the Group provides post-retirement medical benefits to a closed group of employees and their family members, both in active service and retirement.</font></div><div style="margin-bottom:10pt;margin-top:10pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:130%">The amounts relating to post-employment benefits charged to the condensed consolidated income statement are as follows&#58;</font></div><div style="margin-bottom:10pt;margin-top:10pt;text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.893%"><tr><td style="width:1.0%"></td><td style="width:57.759%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.223%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:14.308%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:14.310%"></td><td style="width:0.1%"></td></tr><tr><td colspan="12" style="background-color:#E9E9E9;border-left:1pt solid #FFFFFF;border-top:1pt solid #FFFFFF;padding:2px 1pt 2px 1.49pt;text-align:left;text-indent:-0.49pt;vertical-align:middle"><font style="color:#02a5a5;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Condensed consolidated income statement impact (Millions of Euros)</font></td></tr><tr><td colspan="3" style="border-left:1pt solid #FFFFFF;border-top:1pt solid #FFFFFF;padding:0 1pt 0 1.18pt;text-indent:-0.18pt"></td><td colspan="3" style="border-left:1pt solid #FFFFFF;border-top:1pt solid #FFFFFF;padding:2px 1pt;text-align:center;text-indent:-0.18pt;vertical-align:middle"><font style="color:#072146;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Notes</font></td><td colspan="3" style="border-top:1pt solid #FFFFFF;padding:2px 1.18pt 2px 1pt;text-align:right;text-indent:-0.18pt;vertical-align:middle"><font style="color:#072146;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:120%">March <br>2025</font></td><td colspan="3" style="border-top:1pt solid #FFFFFF;padding:2px 1.18pt 2px 1pt;text-align:right;text-indent:-0.18pt;vertical-align:middle"><font style="color:#072146;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:120%">March <br>2024</font></td></tr><tr><td colspan="3" style="border-left:1pt solid #FFFFFF;border-top:1pt solid #000;padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Interest income and expense</font></td><td colspan="3" style="border-left:1pt solid #FFFFFF;border-top:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-left:1pt solid #FFFFFF;border-top:1pt solid #072146;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">31</font></td><td colspan="3" style="border-left:1pt solid #FFFFFF;border-right:1pt solid #FFFFFF;border-top:1pt solid #072146;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">33</font></td></tr><tr><td colspan="3" style="border-left:1pt solid #FFFFFF;border-top:1pt solid #FFFFFF;padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Personnel expense</font></td><td colspan="3" style="border-left:1pt solid #FFFFFF;border-top:1pt solid #FFFFFF;padding:0 1pt"></td><td colspan="3" style="border-left:1pt solid #FFFFFF;border-top:1pt solid #FFFFFF;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">40</font></td><td colspan="3" style="border-left:1pt solid #FFFFFF;border-right:1pt solid #FFFFFF;border-top:1pt solid #FFFFFF;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">53</font></td></tr><tr><td colspan="3" style="border-left:1pt solid #FFFFFF;border-top:1pt solid #FFFFFF;padding:2px 1pt 2px 13pt;text-align:left;vertical-align:middle"><font style="color:#929292;font-family:'Arial',sans-serif;font-size:8pt;font-style:italic;font-weight:400;line-height:120%">Defined contribution plan expense</font></td><td colspan="3" style="border-left:1pt solid #FFFFFF;border-top:1pt solid #FFFFFF;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#929292;font-family:'Arial',sans-serif;font-size:8pt;font-style:italic;font-weight:400;line-height:120%">35.1</font></td><td colspan="3" style="border-left:1pt solid #FFFFFF;border-top:1pt solid #FFFFFF;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#929292;font-family:'Arial',sans-serif;font-size:8pt;font-style:italic;font-weight:400;line-height:120%">32</font></td><td colspan="3" style="border-left:1pt solid #FFFFFF;border-right:1pt solid #FFFFFF;border-top:1pt solid #FFFFFF;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#929292;font-family:'Arial',sans-serif;font-size:8pt;font-style:italic;font-weight:400;line-height:120%">42</font></td></tr><tr><td colspan="3" style="border-left:1pt solid #FFFFFF;border-top:1pt solid #FFFFFF;padding:2px 1pt 2px 13pt;text-align:left;vertical-align:middle"><font style="color:#929292;font-family:'Arial',sans-serif;font-size:8pt;font-style:italic;font-weight:400;line-height:120%">Defined benefit plan expense</font></td><td colspan="3" style="border-left:1pt solid #FFFFFF;border-top:1pt solid #FFFFFF;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#929292;font-family:'Arial',sans-serif;font-size:8pt;font-style:italic;font-weight:400;line-height:120%">35.1</font></td><td colspan="3" style="border-left:1pt solid #FFFFFF;border-top:1pt solid #FFFFFF;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#929292;font-family:'Arial',sans-serif;font-size:8pt;font-style:italic;font-weight:400;line-height:120%">8</font></td><td colspan="3" style="border-left:1pt solid #FFFFFF;border-right:1pt solid #FFFFFF;border-top:1pt solid #FFFFFF;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#929292;font-family:'Arial',sans-serif;font-size:8pt;font-style:italic;font-weight:400;line-height:120%">10</font></td></tr><tr><td colspan="3" style="border-top:1pt solid #FFFFFF;padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Provisions or reversal of provisions</font></td><td colspan="3" style="border-left:1pt solid #FFFFFF;border-top:1pt solid #FFFFFF;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">37</font></td><td colspan="3" style="border-top:1pt solid #FFFFFF;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">1</font></td><td colspan="3" style="border-top:1pt solid #FFFFFF;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">1</font></td></tr><tr><td colspan="3" style="background-color:#5AC4C4;border-bottom:1pt solid #FFFFFF;border-top:1pt solid #FFFFFF;padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#ffffff;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Total expense (income)</font></td><td colspan="3" style="background-color:#5AC4C4;border-bottom:1pt solid #FFFFFF;border-top:1pt solid #FFFFFF;padding:0 1pt"></td><td colspan="3" style="background-color:#5AC4C4;border-bottom:1pt solid #FFFFFF;border-top:1pt solid #FFFFFF;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#ffffff;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:120%">71</font></td><td colspan="3" style="background-color:#5AC4C4;border-bottom:1pt solid #FFFFFF;border-top:1pt solid #FFFFFF;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#ffffff;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:120%">87</font></td></tr></table></div><div id="i4a27b892ded141958e799b2ba3298497_250"></div><div style="margin-bottom:10pt;margin-top:10pt;text-align:justify"><font style="color:#072146;font-family:'Arial',sans-serif;font-size:11pt;font-weight:700;line-height:130%">24.&#160;&#160;&#160;&#160;Capital</font></div><div style="margin-bottom:10pt;margin-top:10pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:130%">As of March 31, 2025 and December 31, 2024, BBVA&#8217;s share capital amounted to &#8364;2,824,009,877.85 divided into 5,763,285,465 shares.</font></div><div style="margin-bottom:10pt;margin-top:10pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:130%">As of each of such dates, all shares were of the same class and series, fully subscribed and paid-up, of &#8364;0.49 par value each, and represented through book-entry accounts. All of the Bank&#180;s shares carry the same voting and dividend rights, and no single stockholder enjoys special voting rights. Each and every share is part of the Bank&#8217;s capital.</font></div><div style="height:42.52pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="margin-bottom:10pt;margin-top:10pt;text-align:center"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:130%">F-26</font></div></div></div><hr style="page-break-after:always"><div style="min-height:42.52pt;width:100%"><div style="margin-bottom:6pt;margin-top:0.03pt;padding-left:0.56pt;text-align:justify"><font><br></font></div></div><div style="margin-bottom:10pt;margin-top:10pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:130%">BBVA is not aware of any direct or indirect interests through which control of the Bank may be exercised. BBVA has not received any information on stockholder agreements including the regulation of the exercise of voting rights at its Annual General Meetings or restricting or placing conditions on the free transferability of BBVA shares. BBVA is not aware of any agreement that could give rise to changes in the control of the Bank.</font></div><div id="i4a27b892ded141958e799b2ba3298497_253"></div><div style="margin-bottom:10pt;margin-top:10pt;text-align:justify"><font style="color:#072146;font-family:'Arial',sans-serif;font-size:11pt;font-weight:700;line-height:130%">25.&#160;&#160;&#160;&#160;Retained earnings and other reserves</font></div><div style="margin-bottom:6pt;margin-top:10pt;text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.893%"><tr><td style="width:1.0%"></td><td style="width:68.083%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:14.308%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:14.309%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="background-color:#e9e9e9;padding:2px 1pt 2px 1.49pt;text-align:left;text-indent:-0.49pt;vertical-align:middle"><font style="color:#02a5a5;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Retained earnings and other reserves (Millions of Euros)</font></td><td colspan="6" style="background-color:#e9e9e9;padding:0 1pt 0 1.49pt;text-indent:-0.49pt"></td></tr><tr><td colspan="3" style="padding:0 1pt 0 1.18pt;text-indent:-0.18pt"></td><td colspan="3" style="padding:2px 1.18pt 2px 1pt;text-align:right;text-indent:-0.18pt;vertical-align:middle"><font style="color:#072146;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:120%">March <br>2025</font></td><td colspan="3" style="padding:2px 1.18pt 2px 1pt;text-align:right;text-indent:-0.18pt;vertical-align:middle"><font style="color:#072146;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:120%">December <br>2024</font></td></tr><tr><td colspan="3" style="background-color:#ffffff;border-left:0.25pt solid #ffffff;border-top:1pt solid #000;padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Retained earnings</font></td><td colspan="3" style="background-color:#ffffff;border-left:0.25pt solid #ffffff;border-top:1pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">46,582</font></td><td colspan="3" style="background-color:#ffffff;border-left:0.25pt solid #ffffff;border-right:0.25pt solid #ffffff;border-top:1pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">40,693</font></td></tr><tr><td colspan="3" style="background-color:#ffffff;border-left:0.25pt solid #ffffff;border-top:0.25pt solid #ffffff;padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Other reserves </font></td><td colspan="3" style="background-color:#ffffff;border-left:0.25pt solid #ffffff;border-top:0.25pt solid #ffffff;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">1,845</font></td><td colspan="3" style="background-color:#ffffff;border-left:0.25pt solid #ffffff;border-right:0.25pt solid #ffffff;border-top:0.25pt solid #ffffff;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">1,814</font></td></tr><tr><td colspan="3" style="background-color:#5ac4c4;padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#ffffff;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Total</font></td><td colspan="3" style="background-color:#5ac4c4;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#ffffff;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:120%">48,427</font></td><td colspan="3" style="background-color:#5ac4c4;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#ffffff;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:120%">42,507</font></td></tr></table></div><div id="i4a27b892ded141958e799b2ba3298497_256"></div><div style="margin-bottom:10pt;margin-top:10pt;text-align:justify"><font style="color:#072146;font-family:'Arial',sans-serif;font-size:11pt;font-weight:700;line-height:130%">26.&#160;&#160;&#160;&#160;Accumulated other comprehensive income (loss)</font></div><div style="margin-bottom:6pt;margin-top:10pt;text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.893%"><tr><td style="width:1.0%"></td><td style="width:67.929%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:14.308%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:14.463%"></td><td style="width:0.1%"></td></tr><tr><td colspan="9" style="background-color:#e9e9e9;padding:2px 1pt 2px 1.49pt;text-align:left;text-indent:-0.49pt;vertical-align:middle"><font style="color:#02a5a5;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Accumulated other comprehensive income (loss). Breakdown by concepts (Millions of Euros)</font></td></tr><tr><td colspan="3" style="padding:0 1pt 0 1.18pt;text-indent:-0.18pt"></td><td colspan="3" style="padding:2px 1.18pt 2px 1pt;text-align:right;text-indent:-0.18pt;vertical-align:middle"><font style="color:#072146;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:120%">March </font><div><font style="color:#072146;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:120%">2025</font></div></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#072146;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:120%">December <br>2024</font></td></tr><tr><td colspan="3" style="border-top:1pt solid #000;padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#004481;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Items that will not be reclassified to profit or loss</font></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #072146;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#004481;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:120%">(1,876)</font></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #072146;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#004481;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:120%">(1,988)</font></td></tr><tr><td colspan="3" style="border-top:1pt solid #b6b6b6;padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Actuarial gains (losses) on defined benefit pension plans</font></td><td colspan="3" style="background-color:#ffffff;border-left:1pt solid #FFFFFF;border-top:1pt solid #b6b6b6;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(1,059)</font></td><td colspan="3" style="background-color:#ffffff;border-left:1pt solid #FFFFFF;border-top:1pt solid #b6b6b6;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(1,067)</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Non-current assets and disposal groups classified as held for sale</font></td><td colspan="3" style="background-color:#ffffff;border-left:1pt solid #FFFFFF;border-top:1pt solid #FFFFFF;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">&#8212;</font></td><td colspan="3" style="background-color:#ffffff;border-left:1pt solid #FFFFFF;border-top:1pt solid #FFFFFF;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">&#8212;</font></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Fair value changes of equity instruments measured at fair value through other comprehensive income</font></td><td colspan="3" style="background-color:#ffffff;border-left:1pt solid #FFFFFF;border-top:1pt solid #FFFFFF;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(798)</font></td><td colspan="3" style="background-color:#ffffff;border-left:1pt solid #FFFFFF;border-top:1pt solid #FFFFFF;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(905)</font></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Fair value changes of financial liabilities at fair value through profit or loss attributable to changes in their credit risk </font></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(18)</font></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(17)</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#004481;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Items that may be reclassified to profit or loss</font></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#004481;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:120%">(16,072)</font></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#004481;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:120%">(15,232)</font></td></tr><tr><td colspan="3" style="border-top:1pt solid #b6b6b6;padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Hedge of net investments in foreign operations (effective portion)</font></td><td colspan="3" style="background-color:#ffffff;border-left:1pt solid #FFFFFF;border-top:1pt solid #b6b6b6;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(2,368)</font></td><td colspan="3" style="background-color:#ffffff;border-left:1pt solid #FFFFFF;border-top:1pt solid #b6b6b6;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(2,329)</font></td></tr><tr><td colspan="3" style="border-top:1pt solid #FFFFFF;padding:2px 1pt 2px 13pt;text-align:left;vertical-align:middle"><font style="color:#929292;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Mexican peso</font></td><td colspan="3" style="background-color:#ffffff;border-left:1pt solid #FFFFFF;border-top:1pt solid #FFFFFF;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#929292;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(2,724)</font></td><td colspan="3" style="background-color:#ffffff;border-left:1pt solid #FFFFFF;border-top:1pt solid #FFFFFF;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#929292;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(2,697)</font></td></tr><tr><td colspan="3" style="border-top:1pt solid #FFFFFF;padding:2px 1pt 2px 13pt;text-align:left;vertical-align:middle"><font style="color:#929292;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Turkish lira</font></td><td colspan="3" style="background-color:#ffffff;border-left:1pt solid #FFFFFF;border-top:1pt solid #FFFFFF;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#929292;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">378</font></td><td colspan="3" style="background-color:#ffffff;border-left:1pt solid #FFFFFF;border-top:1pt solid #FFFFFF;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#929292;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">394</font></td></tr><tr><td colspan="3" style="border-top:1pt solid #FFFFFF;padding:2px 1pt 2px 13pt;text-align:left;vertical-align:middle"><font style="color:#929292;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Other exchanges</font></td><td colspan="3" style="background-color:#ffffff;border-left:1pt solid #FFFFFF;border-top:1pt solid #FFFFFF;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#929292;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(23)</font></td><td colspan="3" style="background-color:#ffffff;border-left:1pt solid #FFFFFF;border-top:1pt solid #FFFFFF;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#929292;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(25)</font></td></tr><tr><td colspan="3" style="border-top:1pt solid #FFFFFF;padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Foreign currency translation </font></td><td colspan="3" style="background-color:#ffffff;border-left:1pt solid #FFFFFF;border-top:1pt solid #FFFFFF;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(13,526)</font></td><td colspan="3" style="background-color:#ffffff;border-left:1pt solid #FFFFFF;border-top:1pt solid #FFFFFF;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(12,702)</font></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="border-top:1pt solid #FFFFFF;padding:2px 1pt 2px 13pt;text-align:left;vertical-align:middle"><font style="color:#929292;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Mexican peso</font></td><td colspan="3" style="background-color:#ffffff;border-left:1pt solid #FFFFFF;border-top:1pt solid #FFFFFF;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#929292;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(4,127)</font></td><td colspan="3" style="background-color:#ffffff;border-left:1pt solid #FFFFFF;border-top:1pt solid #FFFFFF;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#929292;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(3,644)</font></td></tr><tr><td colspan="3" style="border-top:1pt solid #FFFFFF;padding:2px 1pt 2px 13pt;text-align:left;vertical-align:middle"><font style="color:#929292;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Turkish lira</font></td><td colspan="3" style="background-color:#ffffff;border-left:1pt solid #FFFFFF;border-top:1pt solid #FFFFFF;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#929292;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(6,109)</font></td><td colspan="3" style="background-color:#ffffff;border-left:1pt solid #FFFFFF;border-top:1pt solid #FFFFFF;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#929292;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(5,835)</font></td></tr><tr><td colspan="3" style="border-top:1pt solid #FFFFFF;padding:2px 1pt 2px 13pt;text-align:left;vertical-align:middle"><font style="color:#929292;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Argentine peso</font></td><td colspan="3" style="background-color:#ffffff;border-left:1pt solid #FFFFFF;border-top:1pt solid #FFFFFF;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#929292;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(570)</font></td><td colspan="3" style="background-color:#ffffff;border-left:1pt solid #FFFFFF;border-top:1pt solid #FFFFFF;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#929292;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(555)</font></td></tr><tr><td colspan="3" style="border-top:1pt solid #FFFFFF;padding:2px 1pt 2px 13pt;text-align:left;vertical-align:middle"><font style="color:#929292;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Venezuela Bol&#237;var</font></td><td colspan="3" style="background-color:#ffffff;border-left:1pt solid #FFFFFF;border-top:1pt solid #FFFFFF;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#929292;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(1,892)</font></td><td colspan="3" style="background-color:#ffffff;border-left:1pt solid #FFFFFF;border-top:1pt solid #FFFFFF;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#929292;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(1,865)</font></td></tr><tr><td colspan="3" style="border-top:1pt solid #FFFFFF;padding:2px 1pt 2px 13pt;text-align:left;vertical-align:middle"><font style="color:#929292;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Other exchanges</font></td><td colspan="3" style="background-color:#ffffff;border-left:1pt solid #FFFFFF;border-top:1pt solid #FFFFFF;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#929292;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(828)</font></td><td colspan="3" style="background-color:#ffffff;border-left:1pt solid #FFFFFF;border-top:1pt solid #FFFFFF;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#929292;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(803)</font></td></tr><tr><td colspan="3" style="border-top:1pt solid #FFFFFF;padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Hedging derivatives. Cash flow hedges (effective portion)</font></td><td colspan="3" style="background-color:#ffffff;border-left:1pt solid #FFFFFF;border-top:1pt solid #FFFFFF;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">322</font></td><td colspan="3" style="background-color:#ffffff;border-left:1pt solid #FFFFFF;border-top:1pt solid #FFFFFF;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">370</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Fair value changes of debt instruments measured at fair value through other comprehensive income</font></td><td colspan="3" style="background-color:#ffffff;border-left:1pt solid #FFFFFF;border-top:1pt solid #FFFFFF;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(504)</font></td><td colspan="3" style="background-color:#ffffff;border-left:1pt solid #FFFFFF;border-top:1pt solid #FFFFFF;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(576)</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Hedging instruments (non-designated items)</font></td><td colspan="3" style="background-color:#ffffff;border-left:1pt solid #FFFFFF;border-top:1pt solid #FFFFFF;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">4</font></td><td colspan="3" style="background-color:#ffffff;border-left:1pt solid #FFFFFF;border-top:1pt solid #FFFFFF;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">&#8212;</font></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Non-current assets and disposal groups classified as held for sale</font></td><td colspan="3" style="background-color:#ffffff;border-left:1pt solid #FFFFFF;border-top:1pt solid #FFFFFF;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">&#8212;</font></td><td colspan="3" style="background-color:#ffffff;border-left:1pt solid #FFFFFF;border-top:1pt solid #FFFFFF;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">&#8212;</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Share of other recognized income and expense of investments in joint ventures and associates</font></td><td colspan="3" style="background-color:#ffffff;border-left:1pt solid #FFFFFF;border-top:1pt solid #FFFFFF;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">1</font></td><td colspan="3" style="background-color:#ffffff;border-left:1pt solid #FFFFFF;border-top:1pt solid #FFFFFF;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">5</font></td></tr><tr><td colspan="3" style="background-color:#5AC4C4;padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#FFFFFF;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Total</font></td><td colspan="3" style="background-color:#5AC4C4;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#FFFFFF;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:120%">(17,948)</font></td><td colspan="3" style="background-color:#5AC4C4;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#FFFFFF;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:120%">(17,220)</font></td></tr></table></div><div style="margin-bottom:10pt;margin-top:10pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:130%">The balances recognized under these headings are presented net of tax.</font></div><div id="i4a27b892ded141958e799b2ba3298497_259"></div><div style="margin-bottom:10pt;margin-top:10pt;text-align:justify"><font style="color:#072146;font-family:'Arial',sans-serif;font-size:11pt;font-weight:700;line-height:130%">27.&#160;&#160;&#160;&#160;Minority interests (non-controlling interests)</font></div><div style="margin-bottom:2pt;margin-top:2pt;text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.893%"><tr><td style="width:1.0%"></td><td style="width:68.083%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:14.308%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:14.309%"></td><td style="width:0.1%"></td></tr><tr><td colspan="9" style="background-color:#E9E9E9;padding:2px 1pt 2px 1.49pt;text-align:left;text-indent:-0.49pt;vertical-align:middle"><font style="color:#02a5a5;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Minority interests (non-controlling interests). Breakdown by subgroups (Millions of Euros)</font></td></tr><tr><td colspan="3" style="padding:0 1pt 0 1.18pt;text-indent:-0.18pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#072146;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:120%">March <br>2025</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#072146;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:120%">December <br>2024</font></td></tr><tr><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Garanti BBVA</font></td><td colspan="3" style="border-left:1pt solid #FFFFFF;border-top:1pt solid #072146;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">1,241</font></td><td colspan="3" style="border-left:1pt solid #FFFFFF;border-right:1pt solid #FFFFFF;border-top:1pt solid #072146;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">1,351</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">BBVA Peru</font></td><td colspan="3" style="border-left:1pt solid #FFFFFF;border-top:1pt solid #FFFFFF;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">1,727</font></td><td colspan="3" style="border-left:1pt solid #FFFFFF;border-right:1pt solid #FFFFFF;border-top:1pt solid #FFFFFF;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">1,779</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">BBVA Argentina</font></td><td colspan="3" style="border-left:1pt solid #FFFFFF;border-top:1pt solid #FFFFFF;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">834</font></td><td colspan="3" style="border-left:1pt solid #FFFFFF;border-right:1pt solid #FFFFFF;border-top:1pt solid #FFFFFF;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">843</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">BBVA Colombia</font></td><td colspan="3" style="border-left:1pt solid #FFFFFF;border-top:1pt solid #FFFFFF;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">55</font></td><td colspan="3" style="border-left:1pt solid #FFFFFF;border-right:1pt solid #FFFFFF;border-top:1pt solid #FFFFFF;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">60</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">BBVA Venezuela</font></td><td colspan="3" style="border-left:1pt solid #FFFFFF;border-top:1pt solid #FFFFFF;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">135</font></td><td colspan="3" style="border-left:1pt solid #FFFFFF;border-right:1pt solid #FFFFFF;border-top:1pt solid #FFFFFF;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">134</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Other entities</font></td><td colspan="3" style="border-left:1pt solid #FFFFFF;border-top:1pt solid #FFFFFF;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">195</font></td><td colspan="3" style="border-left:1pt solid #FFFFFF;border-right:1pt solid #FFFFFF;border-top:1pt solid #FFFFFF;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">191</font></td></tr><tr><td colspan="3" style="background-color:#5AC4C4;padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#ffffff;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Total</font></td><td colspan="3" style="background-color:#5AC4C4;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#ffffff;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:120%">4,187</font></td><td colspan="3" style="background-color:#5AC4C4;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#ffffff;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:120%">4,359</font></td></tr></table></div><div style="margin-bottom:2pt;margin-top:2pt;text-align:justify"><font><br></font></div><div style="height:42.52pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="margin-bottom:10pt;margin-top:10pt;text-align:center"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:130%">F-27</font></div></div></div><hr style="page-break-after:always"><div style="min-height:42.52pt;width:100%"><div style="margin-bottom:6pt;margin-top:0.03pt;padding-left:0.56pt;text-align:justify"><font><br></font></div></div><div style="margin-bottom:2pt;margin-top:2pt;text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.893%"><tr><td style="width:1.0%"></td><td style="width:68.083%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:14.308%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:14.309%"></td><td style="width:0.1%"></td></tr><tr><td colspan="9" style="background-color:#E9E9E9;padding:2px 1pt 2px 1.49pt;text-align:left;text-indent:-0.49pt;vertical-align:middle"><font style="color:#02a5a5;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Profit attributable to minority interests (non-controlling interests). Breakdown by subgroups (Millions of Euros)</font></td></tr><tr><td colspan="3" style="padding:0 1pt 0 1.18pt;text-indent:-0.18pt"></td><td colspan="3" style="padding:2px 1.18pt 2px 1pt;text-align:right;text-indent:-0.18pt;vertical-align:middle"><font style="color:#072146;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:120%">March <br>2025</font></td><td colspan="3" style="padding:2px 1.18pt 2px 1pt;text-align:right;text-indent:-0.18pt;vertical-align:middle"><font style="color:#072146;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:120%">March <br>2024</font></td></tr><tr><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Garanti BBVA</font></td><td colspan="3" style="border-top:1pt solid #072146;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">31</font></td><td colspan="3" style="border-top:1pt solid #072146;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">26</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">BBVA Peru</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">96</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">50</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">BBVA Argentina</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">27</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">23</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">BBVA Colombia</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">&#8212;</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(1)</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">BBVA Venezuela</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">23</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">3</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Other entities</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">7</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">5</font></td></tr><tr><td colspan="3" style="background-color:#5AC4C4;padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#ffffff;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Total</font></td><td colspan="3" style="background-color:#5AC4C4;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#ffffff;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:120%">184</font></td><td colspan="3" style="background-color:#5AC4C4;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#ffffff;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:120%">107</font></td></tr></table></div><div id="i4a27b892ded141958e799b2ba3298497_262"></div><div style="margin-bottom:10pt;margin-top:10pt;text-align:justify"><font style="color:#072146;font-family:'Arial',sans-serif;font-size:11pt;font-weight:700;line-height:130%">28.&#160;&#160;&#160;&#160;Commitments and guarantees given</font></div><div style="margin-bottom:6pt;margin-top:10pt;text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.893%"><tr><td style="width:1.0%"></td><td style="width:57.759%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.223%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:14.308%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:14.310%"></td><td style="width:0.1%"></td></tr><tr><td colspan="12" style="background-color:#E9E9E9;padding:2px 1pt 2px 1.49pt;text-align:left;text-indent:-0.49pt;vertical-align:middle"><font style="color:#02a5a5;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Commitments and guarantees given (Millions of Euros)</font></td></tr><tr><td colspan="3" style="border-left:1pt solid #FFFFFF;padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:center;text-indent:-0.18pt;vertical-align:middle"><font style="color:#072146;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Notes</font></td><td colspan="3" style="padding:2px 1.18pt 2px 1pt;text-align:right;text-indent:-0.18pt;vertical-align:middle"><font style="color:#072146;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:120%">March <br>2025</font></td><td colspan="3" style="padding:2px 1.18pt 2px 1pt;text-align:right;text-indent:-0.18pt;vertical-align:middle"><font style="color:#072146;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:120%">December <br>2024</font></td></tr><tr><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Loan commitments given</font></td><td colspan="3" style="border-left:1pt solid #FFFFFF;border-top:1pt solid #072146;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">6.2</font></td><td colspan="3" style="border-left:1pt solid #FFFFFF;border-top:1pt solid #072146;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">205,240</font></td><td colspan="3" style="border-top:1pt solid #072146;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">188,515</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Financial guarantees given</font></td><td colspan="3" style="border-left:1pt solid #FFFFFF;border-top:1pt solid #FFFFFF;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">6.2</font></td><td colspan="3" style="border-left:1pt solid #FFFFFF;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">23,151</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">22,503</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Other commitments given</font></td><td colspan="3" style="border-left:1pt solid #FFFFFF;border-top:1pt solid #FFFFFF;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">6.2</font></td><td colspan="3" style="border-left:1pt solid #FFFFFF;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">59,422</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">51,215</font></td></tr><tr><td colspan="3" style="background-color:#5AC4C4;padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#ffffff;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Total</font></td><td colspan="3" style="background-color:#5AC4C4;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#ffffff;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:120%">6.2</font></td><td colspan="3" style="background-color:#5AC4C4;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#ffffff;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:120%">287,813</font></td><td colspan="3" style="background-color:#5AC4C4;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#ffffff;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:120%">262,233</font></td></tr></table></div><div id="i4a27b892ded141958e799b2ba3298497_265"></div><div style="margin-bottom:10pt;margin-top:10pt;text-align:justify"><font style="color:#072146;font-family:'Arial',sans-serif;font-size:11pt;font-weight:700;line-height:130%">29.&#160;&#160;&#160;&#160;Net interest income</font></div><div id="i4a27b892ded141958e799b2ba3298497_268"></div><div style="margin-top:10pt;text-align:justify"><font style="color:#004580;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:130%">29.1&#160;&#160;&#160;&#160;Interest and other income</font></div><div style="margin-top:10pt;text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.893%"><tr><td style="width:1.0%"></td><td style="width:68.083%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:14.308%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:14.309%"></td><td style="width:0.1%"></td></tr><tr><td colspan="9" style="background-color:#E9E9E9;padding:2px 1pt 2px 1.49pt;text-align:left;text-indent:-0.49pt;vertical-align:middle"><font style="color:#02a5a5;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Interest and other income. Breakdown by origin (Millions of Euros)</font></td></tr><tr><td colspan="3" style="border-left:1pt solid #FFFFFF;padding:0 1pt 0 1.18pt;text-indent:-0.18pt"></td><td colspan="3" style="padding:2px 1.18pt 2px 1pt;text-align:right;text-indent:-0.18pt;vertical-align:middle"><font style="color:#072146;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:120%">March <br>2025</font></td><td colspan="3" style="padding:2px 1.18pt 2px 1pt;text-align:right;text-indent:-0.18pt;vertical-align:middle"><font style="color:#072146;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:120%">March <br>2024</font></td></tr><tr><td colspan="3" style="border-top:1pt solid #072146;padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Financial assets at fair value through profit or loss</font></td><td colspan="3" style="border-top:1pt solid #072146;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">1,377</font></td><td colspan="3" style="border-top:1pt solid #072146;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">1,702</font></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Financial assets at fair value through other comprehensive income</font></td><td colspan="3" style="border-left:1pt solid #FFFFFF;border-top:1pt solid #FFFFFF;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">861</font></td><td colspan="3" style="border-left:1pt solid #FFFFFF;border-right:1pt solid #FFFFFF;border-top:1pt solid #FFFFFF;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">881</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Financial assets at amortized cost &#8317;&#185;&#8318;</font></td><td colspan="3" style="border-left:1pt solid #FFFFFF;border-top:1pt solid #FFFFFF;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">12,189</font></td><td colspan="3" style="border-left:1pt solid #FFFFFF;border-right:1pt solid #FFFFFF;border-top:1pt solid #FFFFFF;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">12,133</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Adjustments of income as a result of hedging transactions </font></td><td colspan="3" style="border-left:1pt solid #FFFFFF;border-top:1pt solid #FFFFFF;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">255</font></td><td colspan="3" style="border-left:1pt solid #FFFFFF;border-right:1pt solid #FFFFFF;border-top:1pt solid #FFFFFF;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">209</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Other income</font></td><td colspan="3" style="border-left:1pt solid #FFFFFF;border-top:1pt solid #FFFFFF;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">38</font></td><td colspan="3" style="border-left:1pt solid #FFFFFF;border-right:1pt solid #FFFFFF;border-top:1pt solid #FFFFFF;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">55</font></td></tr><tr><td colspan="3" style="background-color:#5AC4C4;padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#ffffff;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Total</font></td><td colspan="3" style="background-color:#5AC4C4;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#ffffff;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:120%">14,720</font></td><td colspan="3" style="background-color:#5AC4C4;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#ffffff;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:120%">14,979</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#b6b6b6;font-family:'Arial',sans-serif;font-size:8pt;font-style:italic;font-weight:400;line-height:120%">Of which&#58; insurance activity</font></td><td colspan="3" style="border-bottom:1pt solid #FFFFFF;border-left:1pt solid #FFFFFF;border-top:1pt solid #FFFFFF;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#b6b6b6;font-family:'Arial',sans-serif;font-size:8pt;font-style:italic;font-weight:400;line-height:120%">345</font></td><td colspan="3" style="border-bottom:1pt solid #FFFFFF;border-left:1pt solid #FFFFFF;border-right:1pt solid #FFFFFF;border-top:1pt solid #FFFFFF;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#b6b6b6;font-family:'Arial',sans-serif;font-size:8pt;font-style:italic;font-weight:400;line-height:120%">274</font></td></tr></table></div><div style="margin-bottom:6pt;padding-left:0.56pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:6pt;font-weight:400;line-height:120%">(1) Includes interest on demand deposits at central banks and credit institutions.</font></div><div id="i4a27b892ded141958e799b2ba3298497_271"></div><div style="margin-bottom:10pt;margin-top:10pt;text-align:justify"><font style="color:#004580;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:130%">29.2&#160;&#160;&#160;&#160;Interest expense</font></div><div style="margin-bottom:6pt;margin-top:10pt;text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.739%"><tr><td style="width:1.0%"></td><td style="width:68.035%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:14.332%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:14.333%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="background-color:#E9E9E9;padding:2px 1pt 2px 1.49pt;text-align:left;text-indent:-0.49pt;vertical-align:middle"><font style="color:#02a5a5;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Interest expense. Breakdown by origin (Millions of Euros)</font></td><td colspan="3" style="background-color:#E9E9E9;padding:0 1pt"></td><td colspan="3" style="background-color:#E9E9E9;padding:0 1pt"></td></tr><tr><td colspan="3" style="border-left:1pt solid #FFFFFF;padding:0 1pt 0 1.18pt;text-indent:-0.18pt"></td><td colspan="3" style="padding:2px 1.18pt 2px 1pt;text-align:right;text-indent:-0.18pt;vertical-align:middle"><font style="color:#072146;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:120%">March<br>2025</font></td><td colspan="3" style="padding:2px 1.18pt 2px 1pt;text-align:right;text-indent:-0.18pt;vertical-align:middle"><font style="color:#072146;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:120%">March<br>2024</font></td></tr><tr><td colspan="3" style="border-left:1pt solid #FFFFFF;border-top:1pt solid #072146;padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Financial liabilities at fair value through profit or loss </font></td><td colspan="3" style="border-left:1pt solid #FFFFFF;border-top:1pt solid #072146;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">1,096</font></td><td colspan="3" style="border-left:1pt solid #FFFFFF;border-right:1pt solid #FFFFFF;border-top:1pt solid #072146;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">1,333</font></td></tr><tr><td colspan="3" style="border-left:1pt solid #FFFFFF;border-top:1pt solid #FFFFFF;padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Financial liabilities at amortized cost </font></td><td colspan="3" style="border-left:1pt solid #FFFFFF;border-top:1pt solid #FFFFFF;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">6,822</font></td><td colspan="3" style="border-left:1pt solid #FFFFFF;border-right:1pt solid #FFFFFF;border-top:1pt solid #FFFFFF;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">6,645</font></td></tr><tr><td colspan="3" style="border-left:1pt solid #FFFFFF;border-top:1pt solid #FFFFFF;padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Adjustments of expense as a result of hedging transactions</font></td><td colspan="3" style="border-left:1pt solid #FFFFFF;border-top:1pt solid #FFFFFF;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">162</font></td><td colspan="3" style="border-left:1pt solid #FFFFFF;border-right:1pt solid #FFFFFF;border-top:1pt solid #FFFFFF;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">309</font></td></tr><tr><td colspan="3" style="border-left:1pt solid #FFFFFF;padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Cost attributable to pension funds</font></td><td colspan="3" style="border-left:1pt solid #FFFFFF;border-top:1pt solid #FFFFFF;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">31</font></td><td colspan="3" style="border-left:1pt solid #FFFFFF;border-right:1pt solid #FFFFFF;border-top:1pt solid #FFFFFF;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">33</font></td></tr><tr><td colspan="3" style="border-left:1pt solid #FFFFFF;padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Other expense</font></td><td colspan="3" style="border-left:1pt solid #FFFFFF;border-top:1pt solid #FFFFFF;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">211</font></td><td colspan="3" style="border-left:1pt solid #FFFFFF;border-right:1pt solid #FFFFFF;border-top:1pt solid #FFFFFF;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">148</font></td></tr><tr><td colspan="3" style="background-color:#5AC4C4;padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#ffffff;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Total</font></td><td colspan="3" style="background-color:#5AC4C4;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#ffffff;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:120%">8,321</font></td><td colspan="3" style="background-color:#5AC4C4;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#ffffff;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:120%">8,468</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#b6b6b6;font-family:'Arial',sans-serif;font-size:8pt;font-style:italic;font-weight:400;line-height:120%">Of which&#58; insurance activity</font></td><td colspan="3" style="border-bottom:1pt solid #FFFFFF;border-left:1pt solid #FFFFFF;border-top:1pt solid #FFFFFF;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#b6b6b6;font-family:'Arial',sans-serif;font-size:8pt;font-style:italic;font-weight:400;line-height:120%">243</font></td><td colspan="3" style="border-bottom:1pt solid #FFFFFF;border-left:1pt solid #FFFFFF;border-right:1pt solid #FFFFFF;border-top:1pt solid #FFFFFF;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#b6b6b6;font-family:'Arial',sans-serif;font-size:8pt;font-style:italic;font-weight:400;line-height:120%">171</font></td></tr></table></div><div id="i4a27b892ded141958e799b2ba3298497_274"></div><div style="margin-bottom:10pt;margin-top:10pt;text-align:justify"><font style="color:#072146;font-family:'Arial',sans-serif;font-size:11pt;font-weight:700;line-height:130%">30.&#160;&#160;&#160;&#160;Dividend income</font></div><div style="margin-bottom:10pt;margin-top:10pt;text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.893%"><tr><td style="width:1.0%"></td><td style="width:68.083%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:14.308%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:14.309%"></td><td style="width:0.1%"></td></tr><tr><td colspan="9" style="background-color:#e9e9e9;padding:2px 1pt 2px 1.49pt;text-align:left;text-indent:-0.49pt;vertical-align:middle"><font style="color:#02a5a5;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Dividend income (Millions of Euros)</font></td></tr><tr><td colspan="3" style="border-left:1pt solid #FFFFFF;padding:0 1pt 0 1.18pt;text-indent:-0.18pt"></td><td colspan="3" style="padding:2px 1.18pt 2px 1pt;text-align:right;text-indent:-0.18pt;vertical-align:middle"><font style="color:#072146;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:120%">March <br>2025</font></td><td colspan="3" style="padding:2px 1.18pt 2px 1pt;text-align:right;text-indent:-0.18pt;vertical-align:middle"><font style="color:#072146;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:120%">March <br>2024</font></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="border-top:1pt solid #000;padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Non-trading financial assets mandatorily at fair value through profit or loss</font></td><td colspan="3" style="border-top:1pt solid #000;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">2</font></td><td colspan="3" style="border-top:1pt solid #000;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">1</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Financial assets at fair value through other comprehensive income</font></td><td colspan="3" style="background-color:#ffffff;border-left:0.25pt solid #ffffff;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">8</font></td><td colspan="3" style="background-color:#ffffff;border-left:0.25pt solid #ffffff;border-right:0.25pt solid #ffffff;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">4</font></td></tr><tr><td colspan="3" style="background-color:#5ac4c4;border-bottom:0.25pt solid #ffffff;border-top:0.25pt solid #ffffff;padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#ffffff;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Total</font></td><td colspan="3" style="background-color:#5ac4c4;border-bottom:0.25pt solid #ffffff;border-top:0.25pt solid #ffffff;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#ffffff;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:120%">9</font></td><td colspan="3" style="background-color:#5ac4c4;border-bottom:0.25pt solid #ffffff;border-top:0.25pt solid #ffffff;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#ffffff;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:120%">5</font></td></tr></table></div><div style="height:42.52pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="margin-bottom:10pt;margin-top:10pt;text-align:center"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:130%">F-28</font></div></div></div><div id="i4a27b892ded141958e799b2ba3298497_277"></div><hr style="page-break-after:always"><div style="min-height:42.52pt;width:100%"><div style="margin-bottom:6pt;margin-top:0.03pt;padding-left:0.56pt;text-align:justify"><font><br></font></div></div><div style="margin-bottom:6pt;margin-top:10pt;text-align:justify"><font style="color:#072146;font-family:'Arial',sans-serif;font-size:11pt;font-weight:700;line-height:130%">31.&#160;&#160;&#160;&#160;Fee and commission income and expense </font></div><div style="margin-top:10pt;text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.893%"><tr><td style="width:1.0%"></td><td style="width:68.083%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:14.308%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:14.309%"></td><td style="width:0.1%"></td></tr><tr><td colspan="9" style="background-color:#E9E9E9;border-left:1pt solid #FFFFFF;border-top:1pt solid #FFFFFF;padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#02A5A5;font-family:'BBVA Benton Sans Book',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Fee and commission income. Breakdown by origin (Millions of Euros)</font></td></tr><tr><td colspan="3" style="border-left:1pt solid #FFFFFF;padding:0 1.18pt 0 1pt;text-indent:-0.18pt"></td><td colspan="3" style="padding:2px 1.18pt 2px 1pt;text-align:right;text-indent:-0.18pt;vertical-align:middle"><font style="color:#072146;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:120%">March <br>2025</font></td><td colspan="3" style="padding:2px 1.18pt 2px 1pt;text-align:right;text-indent:-0.18pt;vertical-align:middle"><font style="color:#072146;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:120%">March <br>2024</font></td></tr><tr><td colspan="3" style="border-top:1pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Bills receivables</font></td><td colspan="3" style="border-left:1pt solid #FFFFFF;border-top:1pt solid #000;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">5</font></td><td colspan="3" style="border-left:1pt solid #FFFFFF;border-right:1pt solid #FFFFFF;border-top:1pt solid #000;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">5</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Demand accounts</font></td><td colspan="3" style="border-left:1pt solid #FFFFFF;border-top:1pt solid #FFFFFF;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">78</font></td><td colspan="3" style="border-left:1pt solid #FFFFFF;border-right:1pt solid #FFFFFF;border-top:1pt solid #FFFFFF;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">72</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:0.05pt;margin-top:0.05pt"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Credit and debit cards and POS </font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:5.2pt;font-weight:400;line-height:120%;position:relative;top:-2.8pt;vertical-align:baseline">(1)</font></div></td><td colspan="3" style="border-left:1pt solid #FFFFFF;border-top:1pt solid #FFFFFF;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">1,732</font></td><td colspan="3" style="border-left:1pt solid #FFFFFF;border-right:1pt solid #FFFFFF;border-top:1pt solid #FFFFFF;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">1,520</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Checks</font></td><td colspan="3" style="border-left:1pt solid #FFFFFF;border-top:1pt solid #FFFFFF;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">37</font></td><td colspan="3" style="border-left:1pt solid #FFFFFF;border-right:1pt solid #FFFFFF;border-top:1pt solid #FFFFFF;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">39</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Transfers and other payment orders</font></td><td colspan="3" style="border-left:1pt solid #FFFFFF;border-top:1pt solid #FFFFFF;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">239</font></td><td colspan="3" style="border-left:1pt solid #FFFFFF;border-right:1pt solid #FFFFFF;border-top:1pt solid #FFFFFF;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">221</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Insurance product commissions</font></td><td colspan="3" style="border-left:1pt solid #FFFFFF;border-top:1pt solid #FFFFFF;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">124</font></td><td colspan="3" style="border-left:1pt solid #FFFFFF;border-right:1pt solid #FFFFFF;border-top:1pt solid #FFFFFF;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">108</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Loan commitments given</font></td><td colspan="3" style="border-left:1pt solid #FFFFFF;border-top:1pt solid #FFFFFF;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">92</font></td><td colspan="3" style="border-left:1pt solid #FFFFFF;border-right:1pt solid #FFFFFF;border-top:1pt solid #FFFFFF;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">78</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Other commitments and financial guarantees given</font></td><td colspan="3" style="border-left:1pt solid #FFFFFF;border-top:1pt solid #FFFFFF;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">135</font></td><td colspan="3" style="border-left:1pt solid #FFFFFF;border-right:1pt solid #FFFFFF;border-top:1pt solid #FFFFFF;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">126</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Asset management</font></td><td colspan="3" style="border-left:1pt solid #FFFFFF;border-top:1pt solid #FFFFFF;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">435</font></td><td colspan="3" style="border-left:1pt solid #FFFFFF;border-right:1pt solid #FFFFFF;border-top:1pt solid #FFFFFF;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">388</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Securities fees</font></td><td colspan="3" style="border-left:1pt solid #FFFFFF;border-top:1pt solid #FFFFFF;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">106</font></td><td colspan="3" style="border-left:1pt solid #FFFFFF;border-right:1pt solid #FFFFFF;border-top:1pt solid #FFFFFF;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">99</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Custody securities</font></td><td colspan="3" style="border-left:1pt solid #FFFFFF;border-top:1pt solid #FFFFFF;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">53</font></td><td colspan="3" style="border-left:1pt solid #FFFFFF;border-right:1pt solid #FFFFFF;border-top:1pt solid #FFFFFF;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">52</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Other fees and commissions</font></td><td colspan="3" style="border-left:1pt solid #FFFFFF;border-top:1pt solid #FFFFFF;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">261</font></td><td colspan="3" style="border-left:1pt solid #FFFFFF;border-right:1pt solid #FFFFFF;border-top:1pt solid #FFFFFF;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">217</font></td></tr><tr><td colspan="3" style="background-color:#5AC4C4;padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#ffffff;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Total</font></td><td colspan="3" style="background-color:#5AC4C4;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#ffffff;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:120%">3,297</font></td><td colspan="3" style="background-color:#5AC4C4;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#ffffff;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:120%">2,926</font></td></tr></table></div><div style="margin-bottom:12pt;padding-left:0.56pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:6pt;font-weight:400;line-height:120%">(1) Point Of Sale.</font></div><div style="text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.893%"><tr><td style="width:1.0%"></td><td style="width:68.083%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:14.308%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:14.309%"></td><td style="width:0.1%"></td></tr><tr><td colspan="9" style="background-color:#E9E9E9;border-left:1pt solid #FFFFFF;border-top:1pt solid #FFFFFF;padding:2px 1pt 2px 1.49pt;text-align:left;text-indent:-0.49pt;vertical-align:middle"><font style="color:#02a5a5;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Fee and commission expense. Breakdown by origin (Millions of Euros)</font></td></tr><tr><td colspan="3" style="border-left:1pt solid #FFFFFF;padding:0 1pt 0 1.18pt;text-indent:-0.18pt"></td><td colspan="3" style="padding:2px 1.18pt 2px 1pt;text-align:right;text-indent:-0.18pt;vertical-align:middle"><font style="color:#072146;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:120%">March <br>2025</font></td><td colspan="3" style="padding:2px 1.18pt 2px 1pt;text-align:right;text-indent:-0.18pt;vertical-align:middle"><font style="color:#072146;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:120%">March <br>2024</font></td></tr><tr><td colspan="3" style="border-top:1pt solid #072146;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Demand accounts</font></td><td colspan="3" style="border-left:1pt solid #FFFFFF;border-top:1pt solid #072146;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">2</font></td><td colspan="3" style="border-left:1pt solid #FFFFFF;border-right:1pt solid #FFFFFF;border-top:1pt solid #072146;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">1</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:0.05pt;margin-top:0.05pt"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Credit and debit cards and POS </font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:5.2pt;font-weight:400;line-height:120%;position:relative;top:-2.8pt;vertical-align:baseline">(1)</font></div></td><td colspan="3" style="border-left:1pt solid #FFFFFF;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">842</font></td><td colspan="3" style="border-left:1pt solid #FFFFFF;border-right:1pt solid #FFFFFF;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">734</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Transfers and other payment orders</font></td><td colspan="3" style="border-left:1pt solid #FFFFFF;border-top:1pt solid #FFFFFF;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">42</font></td><td colspan="3" style="border-left:1pt solid #FFFFFF;border-right:1pt solid #FFFFFF;border-top:1pt solid #FFFFFF;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">36</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Commissions for selling insurance</font></td><td colspan="3" style="border-left:1pt solid #FFFFFF;border-top:1pt solid #FFFFFF;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">8</font></td><td colspan="3" style="border-left:1pt solid #FFFFFF;border-right:1pt solid #FFFFFF;border-top:1pt solid #FFFFFF;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">9</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Custody securities</font></td><td colspan="3" style="border-left:1pt solid #FFFFFF;border-top:1pt solid #FFFFFF;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">25</font></td><td colspan="3" style="border-left:1pt solid #FFFFFF;border-right:1pt solid #FFFFFF;border-top:1pt solid #FFFFFF;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">22</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Other fees and commissions</font></td><td colspan="3" style="border-left:1pt solid #FFFFFF;border-top:1pt solid #FFFFFF;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">318</font></td><td colspan="3" style="border-left:1pt solid #FFFFFF;border-right:1pt solid #FFFFFF;border-top:1pt solid #FFFFFF;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">238</font></td></tr><tr><td colspan="3" style="background-color:#5AC4C4;padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#ffffff;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Total</font></td><td colspan="3" style="background-color:#5AC4C4;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#ffffff;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:120%">1,237</font></td><td colspan="3" style="background-color:#5AC4C4;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#ffffff;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:120%">1,040</font></td></tr></table></div><div style="padding-left:0.56pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:6pt;font-weight:400;line-height:120%">(1) Point Of Sale.</font></div><div id="i4a27b892ded141958e799b2ba3298497_280"></div><div style="margin-bottom:10pt;margin-top:10pt;text-align:justify"><font style="color:#072146;font-family:'Arial',sans-serif;font-size:11pt;font-weight:700;line-height:130%">32.&#160;&#160;&#160;&#160;Gains (losses) on financial assets and liabilities, hedge accounting and exchange differences, net </font></div><div style="margin-bottom:6pt;margin-top:10pt;text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.893%"><tr><td style="width:1.0%"></td><td style="width:68.083%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:14.308%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:14.309%"></td><td style="width:0.1%"></td></tr><tr><td colspan="9" style="background-color:#E9E9E9;border-left:1pt solid #FFFFFF;border-top:1pt solid #FFFFFF;padding:2px 1pt 2px 1.49pt;text-align:left;text-indent:-0.49pt;vertical-align:middle"><font style="color:#02a5a5;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Gains (losses) on financial assets and liabilities, hedge accounting and exchange differences, net (Millions of Euros)</font></td></tr><tr><td colspan="3" style="border-left:1pt solid #FFFFFF;padding:0 1pt 0 1.18pt;text-indent:-0.18pt"></td><td colspan="3" style="padding:2px 1.18pt 2px 1pt;text-align:right;text-indent:-0.18pt;vertical-align:middle"><font style="color:#072146;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:120%">March <br>2025</font></td><td colspan="3" style="padding:2px 1.18pt 2px 1pt;text-align:right;text-indent:-0.18pt;vertical-align:middle"><font style="color:#072146;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:120%">March <br>2024</font></td></tr><tr><td colspan="3" style="border-left:1pt solid #FFFFFF;border-top:1pt solid #072146;padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Gains (losses) on derecognition of financial assets and liabilities not measured at fair value through profit or loss, net</font></td><td colspan="3" style="border-left:1pt solid #FFFFFF;border-top:1pt solid #072146;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">114</font></td><td colspan="3" style="border-left:1pt solid #FFFFFF;border-right:1pt solid #FFFFFF;border-top:1pt solid #072146;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">76</font></td></tr><tr><td colspan="3" style="border-left:1pt solid #FFFFFF;border-top:1pt solid #FFFFFF;padding:2px 1pt 2px 7pt;text-align:left;vertical-align:middle"><font style="color:#929292;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Financial assets at amortized cost</font></td><td colspan="3" style="border-left:1pt solid #FFFFFF;border-top:1pt solid #FFFFFF;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#929292;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">1</font></td><td colspan="3" style="border-left:1pt solid #FFFFFF;border-right:1pt solid #FFFFFF;border-top:1pt solid #FFFFFF;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#929292;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">35</font></td></tr><tr><td colspan="3" style="border-left:1pt solid #FFFFFF;border-top:1pt solid #FFFFFF;padding:2px 1pt 2px 7pt;text-align:left;vertical-align:middle"><font style="color:#929292;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Other financial assets and liabilities </font></td><td colspan="3" style="border-left:1pt solid #FFFFFF;border-top:1pt solid #FFFFFF;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#929292;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">113</font></td><td colspan="3" style="border-left:1pt solid #FFFFFF;border-right:1pt solid #FFFFFF;border-top:1pt solid #FFFFFF;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#929292;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">41</font></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="border-left:1pt solid #FFFFFF;border-top:1pt solid #FFFFFF;padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Gains (losses) on financial assets and liabilities held for trading, net &#8317;&#185;&#8318;</font></td><td colspan="3" style="border-left:1pt solid #FFFFFF;border-top:1pt solid #FFFFFF;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">770</font></td><td colspan="3" style="border-left:1pt solid #FFFFFF;border-right:1pt solid #FFFFFF;border-top:1pt solid #FFFFFF;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">273</font></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="border-left:1pt solid #FFFFFF;border-top:1pt solid #FFFFFF;padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Gains (losses) on non-trading financial assets mandatorily at fair value through profit or loss, net</font></td><td colspan="3" style="border-left:1pt solid #FFFFFF;border-top:1pt solid #FFFFFF;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">86</font></td><td colspan="3" style="border-left:1pt solid #FFFFFF;border-right:1pt solid #FFFFFF;border-top:1pt solid #FFFFFF;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">73</font></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="border-left:1pt solid #FFFFFF;border-top:1pt solid #FFFFFF;padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Gains (losses) on financial assets and liabilities designated at fair value through profit or loss, net</font></td><td colspan="3" style="border-left:1pt solid #FFFFFF;border-top:1pt solid #FFFFFF;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">54</font></td><td colspan="3" style="border-left:1pt solid #FFFFFF;border-right:1pt solid #FFFFFF;border-top:1pt solid #FFFFFF;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">67</font></td></tr><tr><td colspan="3" style="border-left:1pt solid #FFFFFF;border-top:1pt solid #FFFFFF;padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Gains (losses) from hedge accounting, net </font></td><td colspan="3" style="border-left:1pt solid #FFFFFF;border-top:1pt solid #FFFFFF;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(5)</font></td><td colspan="3" style="border-left:1pt solid #FFFFFF;border-right:1pt solid #FFFFFF;border-top:1pt solid #FFFFFF;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">99</font></td></tr><tr><td colspan="3" style="background-color:#5AC4C4;border-top:1pt solid #FFFFFF;padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#ffffff;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Subtotal gains (losses) on financial assets and liabilities and hedge accounting</font></td><td colspan="3" style="background-color:#5AC4C4;border-top:1pt solid #FFFFFF;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#ffffff;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:120%">1,020</font></td><td colspan="3" style="background-color:#5AC4C4;border-top:1pt solid #FFFFFF;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#ffffff;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:120%">589</font></td></tr><tr><td colspan="3" style="border-left:1pt solid #FFFFFF;border-top:1pt solid #FFFFFF;padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Exchange differences, net</font></td><td colspan="3" style="border-left:1pt solid #FFFFFF;border-top:1pt solid #FFFFFF;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(72)</font></td><td colspan="3" style="border-left:1pt solid #FFFFFF;border-right:1pt solid #FFFFFF;border-top:1pt solid #FFFFFF;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">183</font></td></tr><tr><td colspan="3" style="background-color:#5AC4C4;border-bottom:1pt solid #FFFFFF;border-top:1pt solid #FFFFFF;padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#ffffff;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Total</font></td><td colspan="3" style="background-color:#5AC4C4;border-bottom:1pt solid #FFFFFF;border-top:1pt solid #FFFFFF;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#ffffff;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:120%">948</font></td><td colspan="3" style="background-color:#5AC4C4;border-bottom:1pt solid #FFFFFF;border-top:1pt solid #FFFFFF;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#ffffff;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:120%">772</font></td></tr></table></div><div style="margin-bottom:6pt;margin-top:0.03pt;padding-left:0.56pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:6pt;font-weight:400;line-height:120%">(1) It includes the result of the management of structural positions in foreign currencies, which resulted mainly from the evolution of the Mexican peso.</font></div><div style="height:42.52pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="margin-bottom:10pt;margin-top:10pt;text-align:center"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:130%">F-29</font></div></div></div><hr style="page-break-after:always"><div style="min-height:42.52pt;width:100%"><div style="margin-bottom:6pt;margin-top:0.03pt;padding-left:0.56pt;text-align:justify"><font><br></font></div></div><div style="margin-bottom:6pt;margin-top:10pt;text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.893%"><tr><td style="width:1.0%"></td><td style="width:68.083%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:14.308%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:14.309%"></td><td style="width:0.1%"></td></tr><tr><td colspan="9" style="background-color:#E9E9E9;border-left:1pt solid #FFFFFF;border-top:1pt solid #FFFFFF;padding:2px 1pt 2px 1.49pt;text-align:left;text-indent:-0.49pt;vertical-align:middle"><font style="color:#02a5a5;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Gains (losses) on financial assets and liabilities and hedge accounting. Breakdown by nature of the financial instrument (Millions of Euros)</font></td></tr><tr><td colspan="3" style="border-left:1pt solid #FFFFFF;padding:0 1pt 0 1.18pt;text-indent:-0.18pt"></td><td colspan="3" style="padding:2px 1.18pt 2px 1pt;text-align:right;text-indent:-0.18pt;vertical-align:middle"><font style="color:#072146;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:120%">March<br>2025</font></td><td colspan="3" style="padding:2px 1.18pt 2px 1pt;text-align:right;text-indent:-0.18pt;vertical-align:middle"><font style="color:#072146;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:120%">March<br>2024</font></td></tr><tr><td colspan="3" style="border-left:1pt solid #FFFFFF;border-top:1pt solid #072146;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Debt instruments</font></td><td colspan="3" style="border-left:1pt solid #FFFFFF;border-top:1pt solid #072146;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">153</font></td><td colspan="3" style="border-left:1pt solid #FFFFFF;border-right:1pt solid #FFFFFF;border-top:1pt solid #072146;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">76</font></td></tr><tr><td colspan="3" style="border-left:1pt solid #FFFFFF;border-top:1pt solid #FFFFFF;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Equity instruments</font></td><td colspan="3" style="border-left:1pt solid #FFFFFF;border-top:1pt solid #FFFFFF;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">164</font></td><td colspan="3" style="border-left:1pt solid #FFFFFF;border-right:1pt solid #FFFFFF;border-top:1pt solid #FFFFFF;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">543</font></td></tr><tr><td colspan="3" style="border-left:1pt solid #FFFFFF;border-top:1pt solid #FFFFFF;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Trading derivatives and hedge accounting</font></td><td colspan="3" style="border-left:1pt solid #FFFFFF;border-top:1pt solid #FFFFFF;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">266</font></td><td colspan="3" style="border-left:1pt solid #FFFFFF;border-right:1pt solid #FFFFFF;border-top:1pt solid #FFFFFF;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(416)</font></td></tr><tr><td colspan="3" style="border-left:1pt solid #FFFFFF;border-top:1pt solid #FFFFFF;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Loans and advances to customers</font></td><td colspan="3" style="border-left:1pt solid #FFFFFF;border-top:1pt solid #FFFFFF;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">27</font></td><td colspan="3" style="border-left:1pt solid #FFFFFF;border-right:1pt solid #FFFFFF;border-top:1pt solid #FFFFFF;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(10)</font></td></tr><tr><td colspan="3" style="border-left:1pt solid #FFFFFF;border-top:1pt solid #FFFFFF;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Customer deposits</font></td><td colspan="3" style="border-left:1pt solid #FFFFFF;border-top:1pt solid #FFFFFF;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(4)</font></td><td colspan="3" style="border-left:1pt solid #FFFFFF;border-right:1pt solid #FFFFFF;border-top:1pt solid #FFFFFF;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(12)</font></td></tr><tr><td colspan="3" style="border-left:1pt solid #FFFFFF;border-top:1pt solid #FFFFFF;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Other</font></td><td colspan="3" style="border-left:1pt solid #FFFFFF;border-top:1pt solid #FFFFFF;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">413</font></td><td colspan="3" style="border-left:1pt solid #FFFFFF;border-right:1pt solid #FFFFFF;border-top:1pt solid #FFFFFF;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">407</font></td></tr><tr><td colspan="3" style="background-color:#5AC4C4;padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#ffffff;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Total</font></td><td colspan="3" style="background-color:#5AC4C4;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#ffffff;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:120%">1,020</font></td><td colspan="3" style="background-color:#5AC4C4;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#ffffff;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:120%">589</font></td></tr></table></div><div id="i4a27b892ded141958e799b2ba3298497_283"></div><div style="margin-bottom:10pt;margin-top:10pt;text-align:justify"><font style="color:#072146;font-family:'Arial',sans-serif;font-size:11pt;font-weight:700;line-height:130%">33.&#160;&#160;&#160;&#160;Other operating income and expense</font></div><div style="margin-bottom:6pt;margin-top:10pt;text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.893%"><tr><td style="width:1.0%"></td><td style="width:68.083%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:14.308%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:14.309%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="background-color:#E9E9E9;border-left:1pt solid #FFFFFF;border-top:1pt solid #FFFFFF;padding:2px 1pt 2px 1.49pt;text-align:left;text-indent:-0.49pt;vertical-align:middle"><font style="color:#02a5a5;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Other operating income (Millions of Euros)</font></td><td colspan="3" style="background-color:#E9E9E9;border-top:1pt solid #FFFFFF;padding:0 1.49pt 0 1pt;text-indent:-0.49pt"></td><td colspan="3" style="background-color:#E9E9E9;border-top:1pt solid #FFFFFF;padding:0 1.49pt 0 1pt;text-indent:-0.49pt"></td></tr><tr><td colspan="3" style="border-left:1pt solid #FFFFFF;padding:0 1pt 0 1.18pt;text-indent:-0.18pt"></td><td colspan="3" style="padding:2px 1.18pt 2px 1pt;text-align:right;text-indent:-0.18pt;vertical-align:middle"><font style="color:#072146;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:120%">March <br>2025</font></td><td colspan="3" style="padding:2px 1.18pt 2px 1pt;text-align:right;text-indent:-0.18pt;vertical-align:middle"><font style="color:#072146;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:120%">March <br>2024</font></td></tr><tr><td colspan="3" style="border-left:1pt solid #FFFFFF;border-top:1pt solid #072146;padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Gains from sales of non-financial services</font></td><td colspan="3" style="border-left:1pt solid #FFFFFF;border-top:1pt solid #072146;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">93</font></td><td colspan="3" style="border-left:1pt solid #FFFFFF;border-right:1pt solid #FFFFFF;border-top:1pt solid #072146;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">73</font></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="border-left:1pt solid #FFFFFF;border-top:1pt solid #FFFFFF;padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Other operating income</font></td><td colspan="3" style="border-left:1pt solid #FFFFFF;border-top:1pt solid #FFFFFF;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">84</font></td><td colspan="3" style="border-left:1pt solid #FFFFFF;border-right:1pt solid #FFFFFF;border-top:1pt solid #FFFFFF;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">57</font></td></tr><tr><td colspan="3" style="background-color:#5AC4C4;padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#ffffff;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Total</font></td><td colspan="3" style="background-color:#5AC4C4;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#ffffff;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:120%">177</font></td><td colspan="3" style="background-color:#5AC4C4;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#ffffff;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:120%">130</font></td></tr></table></div><div style="text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.893%"><tr><td style="width:1.0%"></td><td style="width:68.083%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:14.308%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:14.309%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="background-color:#E9E9E9;border-left:1pt solid #FFFFFF;border-top:1pt solid #FFFFFF;padding:2px 1pt 2px 1.49pt;text-align:left;text-indent:-0.49pt;vertical-align:middle"><font style="color:#02a5a5;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Other operating expense (Millions of Euros)</font></td><td colspan="3" style="background-color:#E9E9E9;border-top:1pt solid #FFFFFF;padding:0 1pt"></td><td colspan="3" style="background-color:#E9E9E9;border-top:1pt solid #FFFFFF;padding:0 1pt"></td></tr><tr><td colspan="3" style="border-left:1pt solid #FFFFFF;padding:0 1pt"></td><td colspan="3" style="padding:2px 1.18pt 2px 1pt;text-align:right;text-indent:-0.18pt;vertical-align:middle"><font style="color:#072146;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:120%">March<br>2025</font></td><td colspan="3" style="padding:2px 1.18pt 2px 1pt;text-align:right;text-indent:-0.18pt;vertical-align:middle"><font style="color:#072146;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:120%">March<br>2024</font></td></tr><tr><td colspan="3" style="background-color:#ffffff;border-left:1pt solid #FFFFFF;border-top:1pt solid #000;padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Change in inventories</font></td><td colspan="3" style="background-color:#ffffff;border-left:1pt solid #FFFFFF;border-top:1pt solid #000;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">39</font></td><td colspan="3" style="background-color:#ffffff;border-left:1pt solid #FFFFFF;border-top:1pt solid #000;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">34</font></td></tr><tr><td colspan="3" style="background-color:#ffffff;border-left:1pt solid #FFFFFF;border-top:1pt solid #FFFFFF;padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Contributions to guaranteed banks deposits funds</font></td><td colspan="3" style="background-color:#ffffff;border-left:1pt solid #FFFFFF;border-top:1pt solid #FFFFFF;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">165</font></td><td colspan="3" style="background-color:#ffffff;border-left:1pt solid #FFFFFF;border-top:1pt solid #FFFFFF;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">156</font></td></tr><tr><td colspan="3" style="background-color:#ffffff;border-left:1pt solid #FFFFFF;border-top:1pt solid #FFFFFF;padding:2px 1pt;text-align:left;vertical-align:middle"><div style="margin-bottom:0.05pt;margin-top:0.05pt"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Hyperinflation adjustment</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:5.2pt;font-weight:400;line-height:120%;position:relative;top:-2.8pt;vertical-align:baseline"> (1)</font></div></td><td colspan="3" style="background-color:#ffffff;border-left:1pt solid #FFFFFF;border-top:1pt solid #FFFFFF;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">159</font></td><td colspan="3" style="background-color:#ffffff;border-left:1pt solid #FFFFFF;border-top:1pt solid #FFFFFF;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">766</font></td></tr><tr><td colspan="3" style="background-color:#ffffff;border-left:1pt solid #FFFFFF;border-top:1pt solid #FFFFFF;padding:2px 1pt;text-align:left;vertical-align:middle"><div style="margin-bottom:0.05pt;margin-top:0.05pt"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Other operating expense </font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:5.2pt;font-weight:400;line-height:120%;position:relative;top:-2.8pt;vertical-align:baseline">(2)</font></div></td><td colspan="3" style="background-color:#ffffff;border-left:1pt solid #FFFFFF;border-top:1pt solid #FFFFFF;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">285</font></td><td colspan="3" style="background-color:#ffffff;border-left:1pt solid #FFFFFF;border-top:1pt solid #FFFFFF;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">488</font></td></tr><tr><td colspan="3" style="background-color:#5AC4C4;padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#ffffff;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Total</font></td><td colspan="3" style="background-color:#5AC4C4;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#ffffff;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:120%">648</font></td><td colspan="3" style="background-color:#5AC4C4;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#ffffff;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:120%">1,444</font></td></tr></table></div><div style="padding-left:0.56pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:6pt;font-weight:400;line-height:120%">(1) For the three months ended March 31, 2025, it includes &#8364;117 million related to Argentina and &#8364;37 million related to Turkey. For the three months ended March 31, 2024, it includes &#8364;655 million related to Argentina and &#8364;111 million related to Turkey. </font></div><div style="padding-left:0.56pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:6pt;font-weight:400;line-height:120%">(2) For the three months ended March 31, 2024, it included &#8364;285 million corresponding to the total estimated annual amount to be paid under the temporary tax on credit institutions and financial credit establishments, according to Law 38&#47;2022 of December 27, 2022.</font></div><div id="i4a27b892ded141958e799b2ba3298497_286"></div><div style="margin-bottom:10pt;margin-top:10pt;text-align:justify"><font style="color:#072146;font-family:'Arial',sans-serif;font-size:11pt;font-weight:700;line-height:130%">34.&#160;&#160;&#160;&#160;Income and expense from insurance and reinsurance contracts</font></div><div style="margin-bottom:6pt;margin-top:10pt;text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.893%"><tr><td style="width:1.0%"></td><td style="width:68.083%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:14.308%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:14.309%"></td><td style="width:0.1%"></td></tr><tr><td colspan="9" style="background-color:#E9E9E9;border-left:1pt solid #FFFFFF;border-top:1pt solid #FFFFFF;padding:2px 1pt 2px 1.49pt;text-align:left;text-indent:-0.49pt;vertical-align:middle"><font style="color:#02a5a5;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Income and expense from insurance and reinsurance contracts (Millions of Euros)</font></td></tr><tr><td colspan="3" style="border-left:1pt solid #FFFFFF;padding:0 1pt 0 1.18pt;text-indent:-0.18pt"></td><td colspan="3" style="padding:2px 1.18pt 2px 1pt;text-align:right;text-indent:-0.18pt;vertical-align:middle"><font style="color:#072146;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:120%">March <br>2025</font></td><td colspan="3" style="padding:2px 1.18pt 2px 1pt;text-align:right;text-indent:-0.18pt;vertical-align:middle"><font style="color:#072146;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:120%">March <br>2024</font></td></tr><tr><td colspan="3" style="border-left:1pt solid #FFFFFF;border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Income from insurance and reinsurance contracts</font></td><td colspan="3" style="border-left:1pt solid #FFFFFF;border-top:1pt solid #072146;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">1,294</font></td><td colspan="3" style="border-left:1pt solid #FFFFFF;border-right:1pt solid #FFFFFF;border-top:1pt solid #072146;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">1,093</font></td></tr><tr><td colspan="3" style="border-left:1pt solid #FFFFFF;border-top:1pt solid #FFFFFF;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Expense from insurance and reinsurance contracts</font></td><td colspan="3" style="border-left:1pt solid #FFFFFF;border-top:1pt solid #FFFFFF;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(923)</font></td><td colspan="3" style="border-left:1pt solid #FFFFFF;border-right:1pt solid #FFFFFF;border-top:1pt solid #FFFFFF;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(745)</font></td></tr><tr><td colspan="3" style="background-color:#5AC4C4;border-bottom:1pt solid #FFFFFF;border-top:1pt solid #FFFFFF;padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#ffffff;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Total</font></td><td colspan="3" style="background-color:#5AC4C4;border-bottom:1pt solid #FFFFFF;border-top:1pt solid #FFFFFF;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#ffffff;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:120%">371</font></td><td colspan="3" style="background-color:#5AC4C4;border-bottom:1pt solid #FFFFFF;border-top:1pt solid #FFFFFF;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#ffffff;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:120%">348</font></td></tr></table></div><div id="i4a27b892ded141958e799b2ba3298497_289"></div><div style="margin-bottom:10pt;margin-top:10pt;text-align:justify"><font style="color:#072146;font-family:'Arial',sans-serif;font-size:11pt;font-weight:700;line-height:130%">35.&#160;&#160;&#160;&#160;Administration costs</font></div><div id="i4a27b892ded141958e799b2ba3298497_292"></div><div style="margin-bottom:10pt;margin-top:10pt;text-align:justify"><font style="color:#004580;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:130%">35.1&#160;&#160;&#160;&#160;Personnel expense</font></div><div style="margin-bottom:6pt;margin-top:10pt;text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.893%"><tr><td style="width:1.0%"></td><td style="width:57.913%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.069%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:14.308%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:14.310%"></td><td style="width:0.1%"></td></tr><tr><td colspan="6" style="background-color:#E9E9E9;border-left:1pt solid #FFFFFF;border-top:1pt solid #FFFFFF;padding:2px 1pt 2px 1.49pt;text-align:left;text-indent:-0.49pt;vertical-align:middle"><font style="color:#02a5a5;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Personnel expense (Millions of Euros)</font></td><td colspan="3" style="background-color:#E9E9E9;border-top:1pt solid #FFFFFF;padding:0 1pt 0 1.49pt;text-indent:-0.49pt"></td><td colspan="3" style="background-color:#E9E9E9;border-top:1pt solid #FFFFFF;padding:0 1pt 0 1.49pt;text-indent:-0.49pt"></td></tr><tr><td colspan="3" style="border-left:1pt solid #FFFFFF;padding:0 1pt 0 1.18pt;text-indent:-0.18pt"></td><td colspan="3" style="border-left:1pt solid #FFFFFF;padding:2px 1pt;text-align:center;text-indent:-0.18pt;vertical-align:middle"><font style="color:#072146;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Notes</font></td><td colspan="3" style="padding:2px 1.18pt 2px 1pt;text-align:right;text-indent:-0.18pt;vertical-align:middle"><font style="color:#072146;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:120%">March <br>2025</font></td><td colspan="3" style="padding:2px 1.18pt 2px 1pt;text-align:right;text-indent:-0.18pt;vertical-align:middle"><font style="color:#072146;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:120%">March <br>2024</font></td></tr><tr><td colspan="3" style="border-left:1pt solid #FFFFFF;border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Wages and salaries</font></td><td colspan="3" style="border-left:1pt solid #FFFFFF;border-top:1pt solid #072146;padding:0 1pt"></td><td colspan="3" style="border-left:1pt solid #FFFFFF;border-top:1pt solid #072146;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">1,425</font></td><td colspan="3" style="border-left:1pt solid #FFFFFF;border-right:1pt solid #FFFFFF;border-top:1pt solid #072146;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">1,344</font></td></tr><tr><td colspan="3" style="border-left:1pt solid #FFFFFF;border-top:1pt solid #FFFFFF;padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Social security costs</font></td><td colspan="3" style="border-left:1pt solid #FFFFFF;border-top:1pt solid #FFFFFF;padding:0 1pt"></td><td colspan="3" style="border-left:1pt solid #FFFFFF;border-top:1pt solid #FFFFFF;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">274</font></td><td colspan="3" style="border-left:1pt solid #FFFFFF;border-right:1pt solid #FFFFFF;border-top:1pt solid #FFFFFF;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">247</font></td></tr><tr><td colspan="3" style="border-left:1pt solid #FFFFFF;border-top:1pt solid #FFFFFF;padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Defined contribution plan expense</font></td><td colspan="3" style="border-left:1pt solid #FFFFFF;border-top:1pt solid #FFFFFF;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">23</font></td><td colspan="3" style="border-left:1pt solid #FFFFFF;border-top:1pt solid #FFFFFF;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">32</font></td><td colspan="3" style="border-left:1pt solid #FFFFFF;border-right:1pt solid #FFFFFF;border-top:1pt solid #FFFFFF;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">42</font></td></tr><tr><td colspan="3" style="border-left:1pt solid #FFFFFF;border-top:1pt solid #FFFFFF;padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Defined benefit plan expense</font></td><td colspan="3" style="border-left:1pt solid #FFFFFF;border-top:1pt solid #FFFFFF;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">23</font></td><td colspan="3" style="border-left:1pt solid #FFFFFF;border-top:1pt solid #FFFFFF;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">8</font></td><td colspan="3" style="border-left:1pt solid #FFFFFF;border-right:1pt solid #FFFFFF;border-top:1pt solid #FFFFFF;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">10</font></td></tr><tr><td colspan="3" style="border-left:1pt solid #FFFFFF;border-top:1pt solid #FFFFFF;padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Other personnel expense</font></td><td colspan="3" style="border-left:1pt solid #FFFFFF;border-top:1pt solid #FFFFFF;padding:0 1pt"></td><td colspan="3" style="border-left:1pt solid #FFFFFF;border-top:1pt solid #FFFFFF;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">162</font></td><td colspan="3" style="border-left:1pt solid #FFFFFF;border-right:1pt solid #FFFFFF;border-top:1pt solid #FFFFFF;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">134</font></td></tr><tr><td colspan="3" style="background-color:#5AC4C4;border-bottom:1pt solid #FFFFFF;border-top:1pt solid #FFFFFF;padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#ffffff;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Total</font></td><td colspan="3" style="background-color:#5AC4C4;border-bottom:1pt solid #FFFFFF;border-top:1pt solid #FFFFFF;padding:0 1pt"></td><td colspan="3" style="background-color:#5AC4C4;border-bottom:1pt solid #FFFFFF;border-top:1pt solid #FFFFFF;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#ffffff;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:120%">1,901</font></td><td colspan="3" style="background-color:#5AC4C4;border-bottom:1pt solid #FFFFFF;border-top:1pt solid #FFFFFF;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#ffffff;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:120%">1,778</font></td></tr></table></div><div style="height:42.52pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="margin-bottom:10pt;margin-top:10pt;text-align:center"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:130%">F-30</font></div></div></div><div id="i4a27b892ded141958e799b2ba3298497_295"></div><hr style="page-break-after:always"><div style="min-height:42.52pt;width:100%"><div style="margin-bottom:6pt;margin-top:0.03pt;padding-left:0.56pt;text-align:justify"><font><br></font></div></div><div style="margin-bottom:10pt;margin-top:10pt;text-align:justify"><font style="color:#004580;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:130%">35.2&#160;&#160;&#160;&#160;Other administrative expense</font></div><div style="margin-bottom:6pt;margin-top:10pt;text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.893%"><tr><td style="width:1.0%"></td><td style="width:68.083%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:14.308%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:14.309%"></td><td style="width:0.1%"></td></tr><tr><td colspan="9" style="background-color:#E9E9E9;border-left:1pt solid #FFFFFF;border-top:1pt solid #FFFFFF;padding:2px 1pt 2px 1.49pt;text-align:left;text-indent:-0.49pt;vertical-align:middle"><font style="color:#02a5a5;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Other administrative expense. Breakdown by main concepts (Millions of Euros)</font></td></tr><tr><td colspan="3" style="border-left:1pt solid #FFFFFF;padding:0 1.18pt 0 1pt;text-indent:-0.18pt"></td><td colspan="3" style="padding:2px 1.18pt 2px 1pt;text-align:right;text-indent:-0.18pt;vertical-align:middle"><font style="color:#072146;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:120%">March <br>2025</font></td><td colspan="3" style="padding:2px 1.18pt 2px 1pt;text-align:right;text-indent:-0.18pt;vertical-align:middle"><font style="color:#072146;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:120%">March <br>2024</font></td></tr><tr><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Technology and systems</font></td><td colspan="3" style="border-left:1pt solid #FFFFFF;border-top:1pt solid #000;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">442</font></td><td colspan="3" style="border-left:1pt solid #FFFFFF;border-right:1pt solid #FFFFFF;border-top:1pt solid #000;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">443</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Communications </font></td><td colspan="3" style="border-left:1pt solid #FFFFFF;border-top:1pt solid #FFFFFF;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">65</font></td><td colspan="3" style="border-left:1pt solid #FFFFFF;border-right:1pt solid #FFFFFF;border-top:1pt solid #FFFFFF;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">69</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Advertising</font></td><td colspan="3" style="border-left:1pt solid #FFFFFF;border-top:1pt solid #FFFFFF;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">129</font></td><td colspan="3" style="border-left:1pt solid #FFFFFF;border-right:1pt solid #FFFFFF;border-top:1pt solid #FFFFFF;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">94</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Property, fixtures and materials</font></td><td colspan="3" style="border-left:1pt solid #FFFFFF;border-top:1pt solid #FFFFFF;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">142</font></td><td colspan="3" style="border-left:1pt solid #FFFFFF;border-right:1pt solid #FFFFFF;border-top:1pt solid #FFFFFF;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">137</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Taxes other than income tax</font></td><td colspan="3" style="border-left:1pt solid #FFFFFF;border-top:1pt solid #FFFFFF;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">114</font></td><td colspan="3" style="border-left:1pt solid #FFFFFF;border-right:1pt solid #FFFFFF;border-top:1pt solid #FFFFFF;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">139</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Surveillance and cash courier services</font></td><td colspan="3" style="border-left:1pt solid #FFFFFF;border-top:1pt solid #FFFFFF;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">72</font></td><td colspan="3" style="border-left:1pt solid #FFFFFF;border-right:1pt solid #FFFFFF;border-top:1pt solid #FFFFFF;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">64</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Other expense</font></td><td colspan="3" style="border-left:1pt solid #FFFFFF;border-top:1pt solid #FFFFFF;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">319</font></td><td colspan="3" style="border-left:1pt solid #FFFFFF;border-right:1pt solid #FFFFFF;border-top:1pt solid #FFFFFF;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">284</font></td></tr><tr><td colspan="3" style="background-color:#5AC4C4;padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#ffffff;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Total</font></td><td colspan="3" style="background-color:#5AC4C4;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#ffffff;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:120%">1,283</font></td><td colspan="3" style="background-color:#5AC4C4;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#ffffff;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:120%">1,229</font></td></tr></table></div><div id="i4a27b892ded141958e799b2ba3298497_298"></div><div style="margin-bottom:10pt;margin-top:10pt;text-align:justify"><font style="color:#072146;font-family:'Arial',sans-serif;font-size:11pt;font-weight:700;line-height:130%">36.&#160;&#160;&#160;&#160;Depreciation and amortization</font></div><div style="margin-bottom:6pt;margin-top:10pt;text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.893%"><tr><td style="width:1.0%"></td><td style="width:68.083%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:14.308%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:14.309%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="background-color:#E9E9E9;border-left:1pt solid #FFFFFF;border-top:1pt solid #FFFFFF;padding:2px 1pt 2px 1.49pt;text-align:left;text-indent:-0.49pt;vertical-align:middle"><font style="color:#02a5a5;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Depreciation and amortization (Millions of Euros)</font></td><td colspan="3" style="background-color:#E9E9E9;border-top:1pt solid #FFFFFF;padding:0 1pt 0 1.49pt;text-indent:-0.49pt"></td><td colspan="3" style="background-color:#E9E9E9;border-top:1pt solid #FFFFFF;padding:0 1pt 0 1.49pt;text-indent:-0.49pt"></td></tr><tr><td colspan="3" style="border-left:1pt solid #FFFFFF;padding:0 1pt 0 1.18pt;text-indent:-0.18pt"></td><td colspan="3" style="padding:2px 1.18pt 2px 1pt;text-align:right;text-indent:-0.18pt;vertical-align:middle"><font style="color:#072146;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:120%">March <br>2025</font></td><td colspan="3" style="padding:2px 1.18pt 2px 1pt;text-align:right;text-indent:-0.18pt;vertical-align:middle"><font style="color:#072146;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:120%">March <br>2024</font></td></tr><tr><td colspan="3" style="border-left:1pt solid #FFFFFF;border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Tangible assets</font></td><td colspan="3" style="border-top:1pt solid #072146;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">237</font></td><td colspan="3" style="border-top:1pt solid #072146;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">237</font></td></tr><tr><td colspan="3" style="border-left:1pt solid #FFFFFF;border-top:1pt solid #FFFFFF;padding:2px 1pt 2px 7pt;text-align:left;vertical-align:middle"><font style="color:#929292;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">For own use</font></td><td colspan="3" style="border-left:1pt solid #FFFFFF;border-top:1pt solid #FFFFFF;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#929292;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">152</font></td><td colspan="3" style="border-left:1pt solid #FFFFFF;border-top:1pt solid #FFFFFF;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#929292;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">152</font></td></tr><tr><td colspan="3" style="border-left:1pt solid #FFFFFF;border-top:1pt solid #FFFFFF;padding:2px 1pt 2px 7pt;text-align:left;vertical-align:middle"><font style="color:#929292;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Right-of-use assets</font></td><td colspan="3" style="border-left:1pt solid #FFFFFF;border-top:1pt solid #FFFFFF;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#929292;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">84</font></td><td colspan="3" style="border-left:1pt solid #FFFFFF;border-top:1pt solid #FFFFFF;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#929292;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">85</font></td></tr><tr><td colspan="3" style="border-left:1pt solid #FFFFFF;border-top:1pt solid #FFFFFF;padding:2px 1pt 2px 7pt;text-align:left;vertical-align:middle"><font style="color:#929292;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Investment properties and other</font></td><td colspan="3" style="border-left:1pt solid #FFFFFF;border-top:1pt solid #FFFFFF;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#929292;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">1</font></td><td colspan="3" style="border-left:1pt solid #FFFFFF;border-top:1pt solid #FFFFFF;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#929292;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">1</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Intangible assets</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">141</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">138</font></td></tr><tr><td colspan="3" style="background-color:#5AC4C4;padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#ffffff;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Total </font></td><td colspan="3" style="background-color:#5AC4C4;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#ffffff;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:120%">378</font></td><td colspan="3" style="background-color:#5AC4C4;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#ffffff;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:120%">375</font></td></tr></table></div><div id="i4a27b892ded141958e799b2ba3298497_301"></div><div style="margin-bottom:10pt;margin-top:10pt;text-align:justify"><font style="color:#072146;font-family:'Arial',sans-serif;font-size:11pt;font-weight:700;line-height:130%">37.&#160;&#160;&#160;&#160;Provisions or reversal of provisions</font></div><div style="margin-bottom:2pt;margin-top:2pt;text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.893%"><tr><td style="width:1.0%"></td><td style="width:57.913%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.069%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:14.308%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:14.310%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="background-color:#E9E9E9;padding:2px 1pt 2px 1.49pt;text-align:left;text-indent:-0.49pt;vertical-align:middle"><font style="color:#02a5a5;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Provisions or reversal of provisions (Millions of Euros)</font></td><td colspan="3" style="background-color:#E9E9E9;padding:0 1pt;text-indent:-0.49pt"></td><td colspan="3" style="background-color:#E9E9E9;padding:0 1pt 0 1.49pt;text-indent:-0.49pt"></td><td colspan="3" style="background-color:#E9E9E9;padding:0 1pt 0 1.49pt;text-indent:-0.49pt"></td></tr><tr><td colspan="3" style="border-left:1pt solid #FFFFFF;padding:0 1pt 0 1.18pt;text-indent:-0.18pt"></td><td colspan="3" style="padding:2px 1pt;text-align:center;text-indent:-0.18pt;vertical-align:middle"><font style="color:#072146;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Notes</font></td><td colspan="3" style="padding:2px 1.18pt 2px 1pt;text-align:right;text-indent:-0.18pt;vertical-align:middle"><font style="color:#072146;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:120%">March <br>2025</font></td><td colspan="3" style="padding:2px 1.18pt 2px 1pt;text-align:right;text-indent:-0.18pt;vertical-align:middle"><font style="color:#072146;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:120%">March <br>2024</font></td></tr><tr><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Pensions and other post-employment defined benefit obligations</font></td><td colspan="3" style="border-left:1pt solid #FFFFFF;border-top:1pt solid #000;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">23</font></td><td colspan="3" style="border-left:1pt solid #FFFFFF;border-top:1pt solid #000;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">1</font></td><td colspan="3" style="border-left:1pt solid #FFFFFF;border-right:1pt solid #FFFFFF;border-top:1pt solid #000;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">1</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Commitments and guarantees given</font></td><td colspan="3" style="border-left:1pt solid #FFFFFF;border-top:1pt solid #FFFFFF;padding:0 1pt"></td><td colspan="3" style="border-left:1pt solid #FFFFFF;border-top:1pt solid #FFFFFF;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(12)</font></td><td colspan="3" style="border-left:1pt solid #FFFFFF;border-right:1pt solid #FFFFFF;border-top:1pt solid #FFFFFF;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(40)</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Pending legal issues and tax litigation</font></td><td colspan="3" style="border-left:1pt solid #FFFFFF;border-top:1pt solid #FFFFFF;padding:0 1pt"></td><td colspan="3" style="border-left:1pt solid #FFFFFF;border-top:1pt solid #FFFFFF;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">62</font></td><td colspan="3" style="border-left:1pt solid #FFFFFF;border-right:1pt solid #FFFFFF;border-top:1pt solid #FFFFFF;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">48</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:0.1pt"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Other provisions</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:5.2pt;font-weight:400;line-height:120%;position:relative;top:-2.8pt;vertical-align:baseline"> </font></div></td><td colspan="3" style="border-left:1pt solid #FFFFFF;border-top:1pt solid #FFFFFF;padding:0 1pt"></td><td colspan="3" style="border-left:1pt solid #FFFFFF;border-top:1pt solid #FFFFFF;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">&#8212;</font></td><td colspan="3" style="border-left:1pt solid #FFFFFF;border-right:1pt solid #FFFFFF;border-top:1pt solid #FFFFFF;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">47</font></td></tr><tr><td colspan="3" style="background-color:#5AC4C4;border-bottom:1pt solid #FFFFFF;border-top:1pt solid #FFFFFF;padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#ffffff;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Total</font></td><td colspan="3" style="background-color:#5AC4C4;border-bottom:1pt solid #FFFFFF;border-top:1pt solid #FFFFFF;padding:0 1pt"></td><td colspan="3" style="background-color:#5AC4C4;border-bottom:1pt solid #FFFFFF;border-top:1pt solid #FFFFFF;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#ffffff;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:120%">51</font></td><td colspan="3" style="background-color:#5AC4C4;border-bottom:1pt solid #FFFFFF;border-top:1pt solid #FFFFFF;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#ffffff;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:120%">57</font></td></tr></table></div><div id="i4a27b892ded141958e799b2ba3298497_304"></div><div style="margin-bottom:10pt;margin-top:10pt;text-align:justify"><font style="color:#072146;font-family:'Arial',sans-serif;font-size:11pt;font-weight:700;line-height:130%">38.&#160;&#160;&#160;&#160;Impairment or reversal of impairment on financial assets not measured at fair value through profit or loss or net gains by modification</font></div><div style="margin-bottom:6pt;margin-top:10pt;text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.893%"><tr><td style="width:1.0%"></td><td style="width:68.083%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:14.308%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:14.309%"></td><td style="width:0.1%"></td></tr><tr><td colspan="9" style="background-color:#E9E9E9;padding:2px 1pt 2px 1.49pt;text-align:left;text-indent:-0.49pt;vertical-align:middle"><font style="color:#02a5a5;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Impairment or reversal of impairment on financial assets not measured at fair value through profit or loss or net gains by modification (Millions of Euros)</font></td></tr><tr><td colspan="3" style="border-left:1pt solid #FFFFFF;padding:0 1pt 0 1.18pt;text-indent:-0.18pt"></td><td colspan="3" style="padding:2px 1.18pt 2px 1pt;text-align:right;text-indent:-0.18pt;vertical-align:middle"><font style="color:#072146;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:120%">March <br>2025</font></td><td colspan="3" style="padding:2px 1.18pt 2px 1pt;text-align:right;text-indent:-0.18pt;vertical-align:middle"><font style="color:#072146;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:120%">March <br>2024</font></td></tr><tr><td colspan="3" style="border-top:1pt solid #000;padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Financial assets at fair value through other comprehensive income - debt securities</font></td><td colspan="3" style="border-top:1pt solid #000;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">16</font></td><td colspan="3" style="border-top:1pt solid #000;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">13</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Financial assets at amortized cost</font></td><td colspan="3" style="border-left:1pt solid #FFFFFF;border-top:1pt solid #FFFFFF;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">1,369</font></td><td colspan="3" style="border-left:1pt solid #FFFFFF;border-right:1pt solid #FFFFFF;border-top:1pt solid #FFFFFF;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">1,348</font></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 7pt;text-align:left;vertical-align:middle"><font style="color:#929292;font-family:'Arial',sans-serif;font-size:8pt;font-style:italic;font-weight:400;line-height:120%">Of which&#58; recovery of written-off assets by cash collection</font></td><td colspan="3" style="border-left:1pt solid #FFFFFF;border-top:1pt solid #FFFFFF;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#929292;font-family:'Arial',sans-serif;font-size:8pt;font-style:italic;font-weight:400;line-height:120%">(76)</font></td><td colspan="3" style="border-left:1pt solid #FFFFFF;border-right:1pt solid #FFFFFF;border-top:1pt solid #FFFFFF;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#929292;font-family:'Arial',sans-serif;font-size:8pt;font-style:italic;font-weight:400;line-height:120%">(105)</font></td></tr><tr><td colspan="3" style="background-color:#5AC4C4;padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#ffffff;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Total</font></td><td colspan="3" style="background-color:#5AC4C4;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#ffffff;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:120%">1,385</font></td><td colspan="3" style="background-color:#5AC4C4;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#ffffff;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:120%">1,361</font></td></tr></table></div><div id="i4a27b892ded141958e799b2ba3298497_307"></div><div style="margin-bottom:10pt;margin-top:10pt;text-align:justify"><font style="color:#072146;font-family:'Arial',sans-serif;font-size:11pt;font-weight:700;line-height:130%">39.</font><font style="color:#072146;font-family:'Arial',sans-serif;font-size:11pt;font-weight:700;line-height:130%;padding-left:20.73pt">Impairment or reversal of impairment of investments in joint ventures and associates</font></div><div style="margin-bottom:10pt;margin-top:10pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:130%">The heading &#8220;Impairment or reversal of the impairment of investments in joint ventures or associates&#34; recorded no impairment for the three months ended March 31, 2025, and it included a reversal of impairment of &#8364;41 million corresponding to investments in associates for the three months ended March 31, 2024.</font></div><div id="i4a27b892ded141958e799b2ba3298497_310"></div><div style="margin-bottom:10pt;margin-top:10pt;text-align:justify"><font style="color:#072146;font-family:'Arial',sans-serif;font-size:11pt;font-weight:700;line-height:130%">40.</font><font style="color:#072146;font-family:'Arial',sans-serif;font-size:11pt;font-weight:700;line-height:130%;padding-left:20.73pt">Impairment or reversal of impairment on non-financial assets</font></div><div style="height:42.52pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="margin-bottom:10pt;margin-top:10pt;text-align:center"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:130%">F-31</font></div></div></div><hr style="page-break-after:always"><div style="min-height:42.52pt;width:100%"><div style="margin-bottom:6pt;margin-top:0.03pt;padding-left:0.56pt;text-align:justify"><font><br></font></div></div><div style="margin-bottom:2pt;margin-top:2pt;text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.893%"><tr><td style="width:1.0%"></td><td style="width:68.083%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:14.308%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:14.309%"></td><td style="width:0.1%"></td></tr><tr><td colspan="9" style="background-color:#e9e9e9;padding:2px 1pt 2px 1.49pt;text-align:left;text-indent:-0.49pt;vertical-align:middle"><font style="color:#02a5a5;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Impairment or reversal of impairment on non-financial assets (Millions of Euros)</font></td></tr><tr><td colspan="3" style="padding:0 1pt 0 1.18pt;text-indent:-0.18pt"></td><td colspan="3" style="padding:2px 1.18pt 2px 1pt;text-align:right;text-indent:-0.18pt;vertical-align:middle"><font style="color:#072146;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:120%">March <br>2025</font></td><td colspan="3" style="padding:2px 1.18pt 2px 1pt;text-align:right;text-indent:-0.18pt;vertical-align:middle"><font style="color:#072146;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:120%">March <br>2024</font></td></tr><tr><td colspan="3" style="border-top:1pt solid #000;padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Tangible assets</font></td><td colspan="3" style="border-top:1pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">&#8212;</font></td><td colspan="3" style="border-top:1pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(1)</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Intangible assets</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">2</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">2</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Others   </font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">&#8212;</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">2</font></td></tr><tr><td colspan="3" style="background-color:#5ac4c4;padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#ffffff;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Total</font></td><td colspan="3" style="background-color:#5ac4c4;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#ffffff;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:120%">1</font></td><td colspan="3" style="background-color:#5ac4c4;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#ffffff;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:120%">3</font></td></tr></table></div><div id="i4a27b892ded141958e799b2ba3298497_313"></div><div style="margin-bottom:10pt;margin-top:10pt;text-align:justify"><font style="color:#072146;font-family:'Arial',sans-serif;font-size:11pt;font-weight:700;line-height:130%">41.</font><font style="color:#072146;font-family:'Arial',sans-serif;font-size:11pt;font-weight:700;line-height:130%;padding-left:20.73pt">Gains (losses) from non-current assets and disposal groups classified as held for sale not qualifying as discontinued operations </font></div><div style="margin-bottom:2pt;margin-top:2pt;text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.893%"><tr><td style="width:1.0%"></td><td style="width:68.083%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:14.308%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:14.309%"></td><td style="width:0.1%"></td></tr><tr><td colspan="9" style="background-color:#e9e9e9;padding:2px 1.49pt 2px 1pt;text-align:justify;text-indent:-0.49pt;vertical-align:middle"><font style="color:#02a5a5;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Gains (losses) from non-current assets and disposal groups classified as held for sale not qualifying as discontinued operations (Millions of Euros)</font></td></tr><tr><td colspan="3" style="padding:0 1pt 0 1.18pt;text-indent:-0.18pt"></td><td colspan="3" style="border-left:0.25pt solid #ffffff;padding:2px 1.18pt 2px 1pt;text-align:right;text-indent:-0.18pt;vertical-align:middle"><font style="color:#072146;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:120%">March <br>2025</font></td><td colspan="3" style="padding:2px 1.18pt 2px 1pt;text-align:right;text-indent:-0.18pt;vertical-align:middle"><font style="color:#072146;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:120%">March <br>2024</font></td></tr><tr><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Gains on sale of real estate</font></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">18</font></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">6</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Impairment of non-current assets held for sale</font></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">1</font></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(2)</font></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="background-color:#5AC4C4;padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#ffffff;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Total</font></td><td colspan="3" style="background-color:#5ac4c4;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#ffffff;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:120%">19</font></td><td colspan="3" style="background-color:#5ac4c4;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#ffffff;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:120%">4</font></td></tr></table></div><div id="i4a27b892ded141958e799b2ba3298497_316"></div><div style="margin-bottom:10pt;margin-top:10pt;text-align:justify"><font style="color:#072146;font-family:'Arial',sans-serif;font-size:11pt;font-weight:700;line-height:130%">42.</font><font style="color:#072146;font-family:'Arial',sans-serif;font-size:11pt;font-weight:700;line-height:130%;padding-left:20.73pt">Subsequent events</font></div><div style="margin-bottom:10pt;margin-top:10pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:130%">From April 1, 2025 to the date of preparation of these Consolidated Financial Statements, except for the payment of the dividend mentioned in Note 4, no subsequent events requiring disclosure in these Consolidated Financial Statements have taken place that significantly affect the Group&#8217;s earnings or its consolidated equity position.</font></div><div style="margin-bottom:10pt;margin-top:10pt;text-align:justify"><font><br></font></div><div style="height:42.52pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="margin-bottom:10pt;margin-top:10pt;text-align:center"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:130%">F-32</font></div></div></div><div id="i4a27b892ded141958e799b2ba3298497_319"></div><hr style="page-break-after:always"><div style="min-height:42.52pt;width:100%"><div style="margin-bottom:6pt;margin-top:0.03pt;padding-left:0.56pt;text-align:justify"><font><br></font></div></div><div style="margin-bottom:10pt;margin-top:10pt;text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:120%">SIGNATURES</font></div><div style="margin-bottom:10pt;margin-top:10pt;text-align:justify;text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned, thereto duly authorized.</font></div><div style="margin-bottom:10pt;margin-top:10pt;text-align:justify"><font><br></font></div><div style="margin-bottom:10pt;margin-top:10pt;text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.893%"><tr><td style="width:1.0%"></td><td style="width:24.323%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:73.477%"></td><td style="width:0.1%"></td></tr><tr style="height:15pt"><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="6" style="padding:2px 1pt;text-align:justify;text-indent:18pt;vertical-align:top"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">BANCO BILBAO VIZCAYA ARGENTARIA, S.A.</font></td></tr><tr style="height:15pt"><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:justify;text-indent:18pt;vertical-align:top"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">By&#58;</font></td><td colspan="3" style="padding:0 1pt"></td></tr><tr style="height:14pt"><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr style="height:14pt"><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#47;s&#47; Luisa G&#243;mez Bravo</font></td></tr><tr style="height:20pt"><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:3pt double #000;padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:justify;text-indent:18pt;vertical-align:bottom"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Name&#58;</font></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Luisa G&#243;mez Bravo</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:justify;text-indent:18pt;vertical-align:bottom"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Title&#58;</font></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Chief Financial Officer</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:justify;text-indent:18pt;vertical-align:bottom"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Date&#58;</font></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">April 29, 2025</font></div></td></tr></table></div><div style="height:42.52pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="margin-bottom:10pt;margin-top:10pt;text-align:justify"><font><br></font></div></div></div></body></html>
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end
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
