Company: BBVXF
Filing Date: 2025-02-27
Form Type: F-4/A
Source: 0001193125-25-037317
Chunk: 626

Company: BANCO BILBAO VIZCAYA ARGENTARIA, S.A.
Filing Date: 2025-02-27
Form: F-4/A
Chunk 626
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. These provisions include, among other items, pension commitments undertaken with employees by Group entities (see Note 1.3.17), as well as provisions for tax litigation and other contingencies. Contingent liabilities are any possible obligations in the Group that arise from past events and whose existence will be confirmed only by the occurrence or non-occurrenceof one or more future events not wholly within the control of the Group. Contingent liabilities include present obligations of the Group whose payment is unlikely to originate any reduction in funds, or whose value, in extremely rare cases, cannot be reliably measured. Contingent liabilities are not recognised in the consolidated annual financial statements, rather, they are disclosed in the notes to the consolidated annual financial statements. A-506

Contingent assets are possible assets that arise from past events and whose existence will be confirmed only by the occurrence or non-occurrenceof events not wholly within the control of the Group. These contingent assets are not recognised on the consolidated balance sheet or in the consolidated income statement, but they are disclosed in the corresponding report where an inflow of economic benefits is probable. 1.3.17 Provisions for pensions The Group’s pension commitments to its employees are as follows: Defined contribution plans These are plans under which fixed contributions are made to a separate entity in accordance with the agreements entered into with each particular group of employees, without any legal or constructive obligation to make further contributions if the separate entity is unable to pay all employee benefits relating to employee service in the current and prior periods. These contributions are recognised each year in the consolidated income statement (see Note 33). Defined benefit plans Defined benefit plans cover all existing commitments arising from the application of the Collective Bargaining Agreement for Banks (Convenio Colectivo de Banca). These commitments are financed through the following vehicles: the pension plan, insurance contracts, the voluntary social welfare agency (E.P.S.V.) and internal funds. Pension plan Banco Sabadell’s employee pension plan covers benefits payable under the aforesaid collective bargaining agreement with employees belonging to regulated groups, with the following exceptions:

| – | Additional commitments due to early retirement, as set out in the Collective Bargaining Agreement for Banks. |

| – | Disability or incapacity arising in certain circumstances. |

| – | Widowhood and orphanhood benefits arising from the death of a retired member of staff who began their employment 
 after 8 March 1980.                                                                                              |

The Banco Sabadell employee pension plan is regarded to all intents and purposes