Company: BBVXF
Filing Date: 2025-02-27
Form Type: F-4/A
Source: 0001193125-25-037317
Chunk: 541

Company: BANCO BILBAO VIZCAYA ARGENTARIA, S.A.
Filing Date: 2025-02-27
Form: F-4/A
Chunk 541
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       |     |         | — |     |         | — |     |         | — |     |         |   — |     |         |     — |     |         |   — |
| through profit or loss                         |     |       |     |         |   |     |         |   |     |         |   |     |         |     |     |         |       |     |         |     |
| Derivatives – Hedge accounting                 |     |       |     |         | — |     |         | — |     |         | — |     |         |   — |     |         |     — |     |         |   — |
| Total                                          |     |       |     |         | — |     |         | — |     |         | — |     |         | 429 |     |         | 4,465 |     |         | 920 |

Transfers from Level 1 to Level 2 in 2023 correspond mainly to bonds issued by US government agencies for which, given their characteristics, it has been determined that their fair value should be obtained primarily using directly or indirectly observable market data. Transfers from Level 1 to Level 3 during the year are due to the fact that the markets in which these instruments (fixed-income bonds) are traded are no longer considered to be active markets; therefore, their value is instead calculated using valuation techniques in which one of the main significant inputs is based on unobservable market data. Transfers from Level 3 to Level 1 in 2023 correspond to equity instruments that began to be traded on an active market. Transfers from Level 3 to Level 1 in 2022 were due to the fact that the markets in which those instruments (senior bonds) were traded began to be considered active markets; therefore, their valuation was instead obtained from quoted prices. As at 31 December 2023 and 2022, the effect of replacing the main assumptions used in the valuation of Level 3 financial instruments with other reasonably possible assumptions, taking the highest value (most favourable assumption) or lowest value (least favourable assumption) of the range that is considered likely, is not significant. As at year-end in both years, there were no derivatives using equity instruments as underlying assets or material interests in discretionary gains in any companies. Financial instruments at amortised cost The following tables show the fair value of the main financial instruments recognised at amortised cost in the accompanying consolidated balance sheets:

| Thousand euro