Company: BBVXF
Filing Date: 2025-08-12
Form Type: DRS
Source: 0000950123-25-007520
Chunk: 901

Company: BANCO BILBAO VIZCAYA ARGENTARIA, S.A.
Filing Date: 2025-08-12
Form: DRS
Chunk 901
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0% relative to total shareholder return, 100% relative to the          
 Group’s liquidity coverage ratio, 100% relative to the CET1 capital ratio and 0% relative to the Group’s return on risk-adjusted capital (RoRAC). Based on the above, a final pay-out of 50% of the                                               
 target was determined for management staff who had been allocated to receive this incentive.                                                                                                                                                      |

In addition to meeting the annual and multi-year targets described above, payment of the incentive is subject to the requirements set out in the General Terms and Conditions of the 2019-2021 Long-Term Remuneration Scheme. As at 31 December 2022, 2,150 thousand euros are pending payment. A-726

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. Furthermore, the Board of Directors, in its meeting of 19 December 2019, at the proposal of the Board Remuneration Committee, approved Long-Term Remuneration for 2020-2022, aimed at members of the Group’s Identified Staff with allocated variable remuneration, with the exception of management staff who are assigned to TSB Banking Group Plc or its subsidiaries, which consists of the allocation of a certain amount to each beneficiary, which is determined based on a monetary amount corresponding to a percentage of each beneficiary’s fixed remuneration. The incentive will be paid 55% in shares of the Bank (using the weighted average price of the last 20 trading sessions of December 2020 to calculate the number of shares) and 45% in cash. The incentive vesting period started on 1 January 2020 and ended on 31 December 2022, and consisted of two sub-periods:

| – | Individual annual targets measurement period: this is the period from 1 January 2020 to 31 December 2020,                                                                                                                                  
 in which the annual targets of each beneficiary (composed of Group targets, management targets and individual targets) established to determine the “Adjusted Target” were measured, which was subject to the Risk Correction Factor, with 
 capital (CET1) and liquidity (Liquidity Coverage Ratio) indicators.                                                                                                                                                                        |

| – | Group multi-year targets measurement period: this is the period from 1 January 2020 to 31 December 2022, in