• BBVA to issue EUR 1 billion of preferred securities contingently convertible into newly issued ordinary shares.
• Discretionary distributions accrue at 6.5% annually from November 18, 2026, to, but excluding, May 18, 2034.
• The distribution rate then resets at 333.4 basis points over the five-year Mid-Swap Rate.
• Closing is expected November 18, 2026; fully paid-up securities are expected to qualify as Additional Tier 1 capital.

Disclaimer: This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. BBVA - Banco Bilbao Vizcaya Argentaria SA published the original content used to generate this news brief via EDGAR, the Electronic Data Gathering, Analysis, and Retrieval system operated by the U.S. Securities and Exchange Commission (Ref. ID: 0001193125-26-456721), on November 12, 2026, and is solely responsible for the information contained therein.