Company: BBVXF
Filing Date: 2025-08-12
Form Type: DRS
Source: 0000950123-25-007520
Chunk: 636

Company: BANCO BILBAO VIZCAYA ARGENTARIA, S.A.
Filing Date: 2025-08-12
Form: DRS
Chunk 636
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 goes hand in hand with a model used to track real estate developments through monitoring reports, which validate the progress made in 
 each development project in order to keep track of drawdowns and compliance with the business plan (income, costs and timelines).                                                                                                                       |

| • |     | The Real Estate Risk Division, with specialised analysts in each of the Territorial Divisions. This makes it possible 
 to ensure that newly accepted risks are in line with the policies and acceptance framework for this type of risk.     |

| – | Management of non-performing real estate credit |

Non-performingexposures are managed in line with the defined policy. In general, they are managed taking into account:

| • |     | The customer. |

| • |     | The guarantees. |

| • |     | The status of the loan (from the time when a warning is triggered, warning of a potential deterioration of the current                                                                                                                              
 status, up until refinancing or restructuring takes place, or until the properties are surrendered in payment of debt (payment in kind)/purchased in an amicable settlement/settlement with debt reduction, or until an auction is held following a 
 mortgage enforcement process and whenever there is a ruling in favour of foreclosure).                                                                                                                                                              |

After analysing the three aforementioned aspects, an optimal solution is sought to stabilise or settle the position (whether through an amicable settlement or through judicial proceedings), which differs depending on the evolution of each customer/case. Cases in which the stabilisation of the loan or its settlement by the customer is not a feasible option are managed using support models depending on the type of loan or financed item. In the case of completed real estate developments or completed non-residentialproperties, these can be put on sale at prices that drive market traction. A-395

As confidentially submitted to the Securities and Exchange Commission on August 11, 2025. This Amendment No. 4 has not been publicly filed with the Securities and Exchange Commission and all information herein remains strictly confidential. For other funded real estate, the possibility of entering into sale agreements with third parties is considered, out-of-courtsettlement solutions are proposed (purchase, payment in kind, which in the case of properties owned by individuals can be arranged under favourable conditions for relocation or social rental depending on the needs of the customer, or with a settlement with debt reduction), or else court proceedings are initiated.

| – | Management of foreclosed assets |

Once the loan has been converted into a real estate asset, a management strategy is