Company: BBVXF
Filing Date: 2025-09-05
Form Type: F-4/A
Source: 0001193125-25-196513
Chunk: 512

Company: BANCO BILBAO VIZCAYA ARGENTARIA, S.A.
Filing Date: 2025-09-05
Form: F-4/A
Chunk 512
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 linked to environmental, social or governance targets (ESG-linked features): these financial assets provide general funding at a contractual interest rate that is adjusted depending on the borrower achieving pre-determined ESG 
 targets that are specific to the borrower, the purpose of the adjustment being to incentivise the achievement of those targets. The key consideration here is whether the resulting cash flows reflect a return for risk that is unrelated to a basic                   
 lending arrangement. Thus, if the adjustment linked to ESG targets does not introduce compensation for risks that is inconsistent with a basic lending arrangement, then it is considered that the financial asset has contractual cash flows that are                  
 compatible with a basic lending arrangement. In addition, for this type of financial asset, the nature of the ESG-linked feature is taken into account, such as a contingent event, which is considered to be an                                                        
 indicator in assessing whether the contractual cash flows consist solely of payments of principal and interest.                                                                                                                                                         |

| • |     | Other clauses that could change the timing or amount of cash flows: clauses that could alter contractual cash flows as 
 a result of changes in credit risk are considered to pass the SPPI test.                                               |

| – | Leverage: financial assets with leverage (i.e. those in which the contractual cash flow variability increases, such                          
 that they do not have the same economic characteristics as the interest rate on the principal amount of the transaction) fail the SPPI test. |

| – | Contractually linked financial instruments: the cash flows arising from these types of financial instruments are      
 considered to consist solely of payments of principal and interest on the principal amount outstanding provided that: |

| • |     | the contractual terms of the tranche being assessed for classification (without looking through to the underlying pool                    
 of financial instruments) give rise to cash flows that are solely payments of principal and interest on the principal amount outstanding; |

| • |     | the underlying pool of financial instruments comprises instruments whose contractual cash flows are solely payments of 
 principal and interest on the principal amount outstanding; and                                                        |

| • |     | the exposure to credit risk corresponding to the tranche being assessed is equal to or lower than the exposure to 
 credit risk of the underlying pool of financial instruments.                                                      |

| – | Non-recourse financial assets: in the case of debt instruments that are                                                                                                                                                                             
 primarily repaid with cash flows from specified assets or projects and for which there is no personal liability for the holder, an assessment is made of the underlying assets or cash flows to determine whether the contractual cash