Company: BBVXF
Filing Date: 2025-09-09
Form Type: 424B3
Source: 0001193125-25-198517
Chunk: 453

Company: BANCO BILBAO VIZCAYA ARGENTARIA, S.A.
Filing Date: 2025-09-09
Form: 424B3
Chunk 453
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4 and 2023, there were no equity instruments valued at their acquisition cost that could be considered significant. Non-financial assets Real estate assets As at 31 December 2024 and 2023, the net carrying amounts of real estate assets did not differ significantly from the fair values of these assets (see Notes 13, 15 and 17). The selection criteria for appraisers and the update of appraisals are defined in the section on “Guarantees”, in Note 1.3.4. to these consolidated annual financial statements. Valuation techniques are generally used by all appraisal companies based on the type of each real estate asset. As per regulatory requirements, in the valuation techniques used, appraisal companies maximise the use of observable market data and other factors which would be taken into account by market operators when setting prices, endeavouring to keep the use of subjective considerations and unobservable or non-verifiable data to a minimum. The main valuation methods used fall into the following measurement levels: Level 2

| – | Comparison method: applicable to all kinds of properties provided that there is a representative market of                      
 comparable properties and that sufficient data is available relating to transactions that reflect the current market situation. |

A-222

| – | Rental update method: applicable when the valued property generates or may generate rental income and there is 
 a representative market of comparable data.                                                                    |

| – | Statistical model: this model adjusts the value of the assets based on the acquisition date and their                                                                                                                                                    
 location, updating the value in accordance with price trends in the area concerned as from the date of purchase. To that end, it includes statistical information on price trends in all provinces, as provided by external appraisal companies, as well 
 as demographic data from the Spanish Office for National Statistics (INE) to calculate sensitivity at a municipality level. The value obtained is in turn adjusted based on the construction status (finished product, development in progress, plots or 
 land under management) and use (residential, industrial, etc.) of the asset.                                                                                                                                                                             |

Level 3

| – | Cost method: applicable to determine the value of buildings being planned, under construction or undergoing 
 renovations.                                                                                                |

| – | Residual method: in the present macroeconomic climate, the dynamic calculation procedure is being used                                                                                                                   
 preferentially in new land valuations to the detriment of the static procedure, which is reserved for specific cases in which the envisaged timeframes for project completion are in line with the relevant regulations. |

Depending