Company: BBVXF
Filing Date: 2025-09-05
Form Type: F-4/A
Source: 0001193125-25-196513
Chunk: 655

Company: BANCO BILBAO VIZCAYA ARGENTARIA, S.A.
Filing Date: 2025-09-05
Form: F-4/A
Chunk 655
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c or its subsidiaries, which consists of allocating a certain amount to each beneficiary, determined based on a monetary amount corresponding to a percentage of each beneficiary’s fixed remuneration. 55% of the incentive is paid in the Bank’s shares (using the weighted average price of the last 20 trading sessions of the month of December of the first year of the accrual period to calculate the number of shares), with the remaining 45% paid in cash. The incentive accrual period consists of three financial years, beginning on 1 January of the financial year immediately following the date of its approval and ending two years later, on 31 December of the third financial year. The aforesaid accrual period in turn comprises two sub-periods:

| – | Individual annual targets measurement period: this period lasts one financial year, from 1 January to                                                                                                                                 
 31 December of the year following the date on which the incentive is approved. During that period, each beneficiary’s annual targets are measured (formed of Group targets, management targets and individual targets) established to 
 determine the “Adjusted Target”.                                                                                                                                                                                                      |

A-500

| – | Group multi-year targets measurement period: this period lasts three financial years, beginning on 1 January of                                                                                                                                    
 the financial year immediately following the date on which the incentive is approved and ending two years later, on 31 December of the third financial year. During that period, the Group’s multi-year targets are measured in order to           
 determine the final incentive, which is subject to the Risk Correction Factor. The Group’s multi-year targets for each incentive are linked to the following indicators and weights, whose achievement percentages are used to calculate the final 
 payment owed, if any, to management staff who have been assigned that incentive:                                                                                                                                                                   |

| Incentive                         |     | Indicators and weights                                              |
| Long-Term Remuneration 2019-2021, 
 2020-2022 and 2021-2023           |     | - Total shareholder return (25%) -                                  
 Group liquidity coverage ratio (25%) - CET1 capital indicator (25%) 
 - Group return on risk-adjusted capital (RoRAC) (25%)               |
| Long-Term Remuneration            
 2022-2024                         |     | - Total shareholder return (25%) -                                  
 Group liquidity coverage ratio (25%) - CET1 capital indicator (25%) 
 - Return on tangible equity (ROTE) (25%)                            |
| Long-Term