Company: BBVXF
Filing Date: 2025-02-27
Form Type: F-4/A
Source: 0001193125-25-037317
Chunk: 554

Company: BANCO BILBAO VIZCAYA ARGENTARIA, S.A.
Filing Date: 2025-02-27
Form: F-4/A
Chunk 554
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ell’s 
 employee pension plan.                                                                                           |

| – | Commitments towards early retirees; these may be partly financed with benefits accrued in Banco Sabadell’s 
 employee pension plan.                                                                                     |

These insurance policies have been arranged with insurers outside the Group, whose insured commitments are mainly those towards former Banco Atlántico employees, and with BanSabadell Vida, S.A. de Seguros y Reaseguros. Voluntary social welfare agency (Entidad de Previsión Social Voluntaria, or E.P.S.V.) The acquisition and subsequent merger of Banco Guipuzcoano resulted in the takeover of Gertakizun, E.P.S.V., which covers defined benefit commitments in respect of serving and former employees, who are insured by policies. It was set up by the aforesaid bank in 1991 as an agency with a separate legal personality. All obligations with respect to serving and former employees are insured by entities outside the Group. A-395

Internal funds Internal funds are used to settle obligations with early retirees up to their legal retirement age and relate to employees previously working for Banco Sabadell. The origins of liabilities recognised in respect of post-employment benefits and other similar long-term obligations on the Group’s balance sheet are shown below:

| Thousand euro                                            |     |      |          |     |      |          |     |      |          |     |      |          |     |      |          |
|                                                          |     | 2023 |          |     | 2022 |          |     | 2021 |          |     | 2020 |          |     | 2019 |          |
| Obligations arising from pension and similar commitments |     |      |  509,946 |     |      |  565,046 |     |      |  739,456 |     |      |  819,789 |     |      |  803,905 |
| Fair value of plan assets                                |     |      | -451,569 |     |      | -501,492 |     |      | -652,786 |     |      | -716,128 |     |      | -697,621 |
| Net liability recognised on balance sheet                |     |      |   58,377 |     |      |   63,554 |     |      |   86,670 |     |      |  103,661 |     |      |  106,284 |