Company: BBVXF
Filing Date: 2025-02-27
Form Type: F-4/A
Source: 0001193125-25-037317
Chunk: 415

Company: BANCO BILBAO VIZCAYA ARGENTARIA, S.A.
Filing Date: 2025-02-27
Form: F-4/A
Chunk 415
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 cash flows of a financial instrument whose time value of money element was not        
 modified. At present, tolerance thresholds of 10% and 5%, respectively, are used for the differences in each tenor and for the analysis of cumulative cash flows over the life of the financial asset.                                                 |

| – | Contractual terms that change the timing or amount of cash flows: an analysis is carried out to determine whether any 
 contractual terms exist that could change the timing or amount of contractual cash flows from the financial asset:    |

| • |     | Clauses for conversion to equity shares: clauses that include a conversion-to-equity option and the loss of the right to claim contractual cash flows in the event the principal amount is reduced due to insufficient funds. Contracts that include this option will 
 automatically fail the SPPI test.                                                                                                                                                                                                                                     |

| • |     | Existence of the option to prepay or extend the financial instrument, or extend the contractual term, and possible                                                                                                                                      
 residual compensation: a financial asset will fulfil the SPPI test requirements if it includes a contractual option that permits the issuer (or debtor) to prepay a debt instrument or to put back a debt instrument before maturity and the prepayment 
 amount substantially represents unpaid amounts of principal and interest outstanding, which may include reasonable additional compensation for the early termination of the contract.                                                                   |

A-252

| • |     | Financial assets with interest rates linked to environmental, social or governance targets (ESG-linked features): these financial assets provide general funding at a contractual interest rate that is adjusted depending on the borrower achieving pre-determined ESG 
 targets that are specific to the borrower, the purpose of the adjustment being to incentivise the achievement of those targets. The key consideration here is whether the resulting cash flows reflect a return for risk that is unrelated to a basic                   
 lending arrangement. Thus, if the adjustment linked to ESG targets does not introduce compensation for risks that is inconsistent with a basic lending arrangement, then it is considered that the financial asset has contractual cash flows that are                  
 compatible with a basic lending arrangement. In addition, for this type of financial asset, the nature of the ESG-linked feature is taken into account, such as a contingent event, which is considered to be an                                                        
 indicator in assessing whether the contractual cash flows consist solely of payments of principal and interest.                                                                                                                                                         |

| • |     | Other clauses that could change the timing or amount of cash flows: clauses that could alter contractual cash flows as 
 a result of changes in credit risk