Company: BBVXF
Filing Date: 2025-09-09
Form Type: 424B3
Source: 0001193125-25-198517
Chunk: 353

Company: BANCO BILBAO VIZCAYA ARGENTARIA, S.A.
Filing Date: 2025-09-09
Form: 424B3
Chunk 353
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.00% per annum |     |       2.00% per annum |
| Rate of increase in salaries         |     |       3.00% per annum |     |       3.00% per annum |
| Employee disability                  |     |         SS90-Absolute |     |         SS90-Absolute |
| Employee turnover                    |     |        Not considered |     |        Not considered |
| Early retirement                     |     |            Considered |     |            Considered |
| Normal retirement age                |     |        65 or 67 years |     |        65 or 67 years |

In 2024, the discount rate on all commitments was determined by reference to the return on AA-ratedcorporate bonds (iBoxx €Corporates AA 7-10),with an average duration of 7.58 years (in 2023, the iBoxx €Corporates AA 10+ curve was used, with an average duration of 11.96 years). The early retirement age considered is the earliest retirement date after which pension entitlements cannot be revoked by the employer for 100% of the employees. The return on long-term assets corresponding to plan assets and reimbursement rights (pension-linked insurance contracts) was determined by applying the same discount rate used in actuarial assumptions (3.00% and 3.75% in 2024 and 2023, respectively). 1.3.18 Foreign currency transactions and exchange differences The Group’s functional and reporting currency is the euro. Consequently, all balances and transactions denominated in currencies other than the euro are treated as being denominated in a foreign currency. On initial recognition, debit and credit balances denominated in foreign currencies are translated to the functional currency at the spot exchange rate, defined as the exchange rate for immediate delivery, on the recognition date. Subsequent to the initial recognition, the following rules are used to translate foreign currency balances to the functional currency of each investee:

| – | Monetary assets and liabilities are translated at the closing rate, defined as the average spot exchange rate as at 
 the reporting date.                                                                                                 |

| – | Non-monetary items measured at historical cost are translated at the exchange 
 rate ruling at the acquisition date.                                          |

| – | Non-monetary items measured at fair value are translated at the exchange rate 
 ruling at the date when the fair value was determined.                        |

| – | Income and expenses are translated at the exchange rate ruling at the transaction date