Company: BBVXF
Filing Date: 2025-02-27
Form Type: F-4/A
Source: 0001193125-25-037317
Chunk: 456

Company: BANCO BILBAO VIZCAYA ARGENTARIA, S.A.
Filing Date: 2025-02-27
Form: F-4/A
Chunk 456
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 Tables                               |     | PER2020_Col_1er.orden |     | PER2020_Col_1er.orden |
| Discount rate, pension plan          |     |       3.75% per annum |     |       3.25% per annum |
| Discount rate, internal fund         |     |       3.75% per annum |     |       3.25% per annum |
| Discount rate, related insurance     |     |       3.75% per annum |     |       3.25% per annum |
| Discount rate, non-related insurance |     |       3.75% per annum |     |       3.25% per annum |
| Inflation                            |     |       2.00% 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 |

A-282

In 2023 and 2022, the discount rate on all commitments was determined by reference to the return on AA-ratedcorporate bonds (iBoxx €Corporates AA 10+), with an average duration of 11.96 and 13 years, respectively. 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 insurance policies linked to pensions was determined by applying the same discount rate used in actuarial assumptions (3.75% and 3.25% in 2023 and 2022, 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