Company: BBVXF
Filing Date: 2025-02-27
Form Type: F-4/A
Source: 0001193125-25-037317
Chunk: 595

Company: BANCO BILBAO VIZCAYA ARGENTARIA, S.A.
Filing Date: 2025-02-27
Form: F-4/A
Chunk 595
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 on consolidated data may also be assessed individually. To assess significant borrowers’ transactions, a system of triggers is established. These triggers identify any significant increase in credit risk, as well as any signs of impairment. A team of expert risk analysts carries out the individual assessment of borrowers, reviewing each transaction and assigning it the corresponding accounting classification. The system of triggers and automatic criteria for significant borrowers is automated and takes into account the particular characteristics of segments that perform differently within the loan portfolio, with specific triggers in place for certain segments. In any event, the system of triggers does not automatically or individually classify borrowers. Instead, it brings forward the due date for assessment of the borrower by an analyst and prompts decision-making with regard to their classification. The main aspects identified by the system of triggers and automatic criteria are listed here below:

| – | A significant increase in credit risk or an impairment event, considering variables that are indicative of a                                                                                                      
 deteriorating or poor economic and financial situation as well as variables that could potentially give rise to impairment or which allow impairment to be anticipated. Examples of stage 2 and stage 3 triggers: |

Stage 2 triggers:

| • |     | Adverse changes in the financial situation, such as a significant increase in levels of leverage or a sharp drop in 
 turnover or equity.                                                                                                 |

| • |     | Adverse changes in the economy or market indicators, such as a significant fall in share prices or a reduction in the 
 price of debt issues.                                                                                                 |

| • |     | Significant fall in the internal credit rating of the borrower. |

| • |     | Significant increase in credit risk of other transactions of the same borrower, or in entities associated with the 
 borrower’s risk group.                                                                                             |

| • |     | For transactions secured with collateral, significant decline in the value of the collateral received. |

Stage 3 triggers:

| • |     | Negative EBITDA, significant decrease in EBITDA, in turnover, or in general, in the borrower’s recurrent cash 
 flows.                                                                                                        |

| • |     | Increase in the borrower’s leverage ratios. |

A-485

| • |     | Negative equity or equity reduction as a result of the borrower suffering equity losses of 50% or more in the past 
 year.                                                                                                              |

| • |     | Existence of an internal or external credit rating showing that the borrower is in arrears. |

| – | Existence of debt remissions or debt reductions to the same borrower or to companies