Company: BBVXF
Filing Date: 2025-09-05
Form Type: F-4/A
Source: 0001193125-25-196513
Chunk: 302

Company: BANCO BILBAO VIZCAYA ARGENTARIA, S.A.
Filing Date: 2025-09-05
Form: F-4/A
Chunk 302
---
 the output floor. |

A-36

The own funds used by the Institution to meet the Combined Buffer Requirement (CBR) will not be eligible to meet the MREL and subordination requirements expressed in terms of the TREA. In the calibration of the MREL requirement, the Group has obtained the maximum possible reduction of 20% of the Market Confidence Charge (MCC) taking into account the progress shown in its level of resolvability and based on the provisions of Article 12d(3) of Regulation (EU) 2019/877, which states that the SRB has the power to establish a lower amount of said component in the calibration process of the MREL requirement. As at 30 June 2025, Banco Sabadell was compliant with the MREL requirements established by the Single Resolution Board (SRB), in force since 17 December 2024. The table shown below sets out details of the Group’s MREL as a percentage of the TREA, as at 30 June 2025 and 31 December 2024:

|                                               |     | 30/06/2025 |        |     | 31/12/2024 |        |
| CET1, phase-in                                |     |            | 13.62% |     |            | 13.03% |
| AT1, phase-in                                 |     |            | 3.47%  |     |            | 2.17%  |
| Tier 2, phase-in and subordinated liabilities |     |            | 2.29%  |     |            | 2.87%  |
| Senior non-preferred debt                     |     |            | 5.40%  |     |            | 5.63%  |
| Senior preferred debt                         |     |            | 4.20%  |     |            | 4.18%  |
| Total                                         
 MREL                                          |     |            | 28.99% |     |            | 27.88% |

Taking into account the commitment to distribute any excess capital above the 13% CET1 ratio 7, the Group’s MREL to TREA ratio would stand at 28.43% as at 30 June 2025. Note 6 – Fair value of assets and liabilities Financial assets and financial liabilities The methodology and classification of the fair value by hierarchy is explained in Note 6 to the 2024 consolidated annual financial statements. Determin