Company: BBVXF
Filing Date: 2025-09-09
Form Type: 424B3
Source: 0001193125-25-198517
Chunk: 352

Company: BANCO BILBAO VIZCAYA ARGENTARIA, S.A.
Filing Date: 2025-09-09
Form: 424B3
Chunk 352
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 or pension-linked insurance contracts, are not plan assets, as the company is a related party of the Group (see Note 17). Pension commitments are recognised in the following way:

| – | In the consolidated income statement, net interest on the defined benefit liability (asset) net of pension                                                                                                                               
 commitments as well as the service cost, which includes (i) the service cost in the current period, (ii) the past service cost arising from changes made to existing commitments or from the introduction of new benefits, and (iii) any 
 gain or loss arising from a settlement of the plan.                                                                                                                                                                                      |

A-134

| – | Under the heading “Accumulated other comprehensive income – Items that will not be reclassified to profit                                                                                                                                          
 or loss - Actuarial gains or (-) losses on defined benefit pension plans” in the consolidated statement of equity, the remeasurement of the net defined benefit liability (asset) for pension commitments, which includes (i) actuarial gains      
 and losses generated in the year arising from differences between the previous actuarial assumptions and the reality, and from changes in the actuarial assumptions made, and (ii) the return on plan assets. The amounts included in net interest 
 on the defined benefit liability (asset) are not included in either case.                                                                                                                                                                          |

| – | The heading “Provisions – Other long term employee benefits” on the liabilities side of the                                                                                                                            
 consolidated balance sheet mainly includes the value of commitments undertaken with early retirees. Changes occurring during the year in the value of liabilities are recognised in the consolidated income statement. |

Actuarial assumptions The most relevant financial/actuarial assumptions used in the measurement of pension commitments as at 31 December 2024 and 2023 are as follows:

|                                      |     |                  2024 |     |                  2023 |
| Mortality tables                     |     | PER2020_Col_1er.orden |     | PER2020_Col_1er.orden |
| Discount rate, pension plan          |     |       3.00% per annum |     |       3.75% per annum |
| Discount rate, related insurance     |     |       3.00% per annum |     |       3.75% per annum |
| Discount rate, non-related insurance |     |       3.00% per annum |     |       3.75% per annum |
| Inflation                            |     |       2