Company: BBVXF
Filing Date: 2025-08-12
Form Type: DRS
Source: 0000950123-25-007520
Chunk: 555

Company: BANCO BILBAO VIZCAYA ARGENTARIA, S.A.
Filing Date: 2025-08-12
Form: DRS
Chunk 555
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 to the Securities and Exchange Commission on August 11, 2025. This Amendment No. 4 has not been publicly filed with the Securities and Exchange Commission and all information herein remains strictly confidential. The business models used by the Group are indicated here below:

| – | Business model whose objective is to hold financial assets in order to collect contractual cash flows: under this                                                                                                                                      
 model, financial assets are managed in order to collect their particular contractual cash flows, rather than to obtain an overall return by both holding and selling assets. The above notwithstanding, assets can be disposed of prior to maturity in 
 certain circumstances. Sales that may be consistent with a business model whose objective is to hold assets in order to collect contractual cash flows include sales that are infrequent or insignificant in value, sales of assets close to maturity, 
 sales triggered by an increase in credit risk and sales carried out to manage credit concentration risk.                                                                                                                                               |

| – | Business model whose objective is to sell financial assets. |

| – | Business model that combines the two objectives above (hold financial assets in order to collect contractual cash                                                                          
 flows and sell financial assets): this business model typically involves greater frequency and value of sales because such sales are integral to achieving the business model’s objective. |

Contractual cash flow characteristics of financial assets Financial assets should initially be classified in one of the following two categories:

| – | Those whose contractual terms give rise, on specified dates, to cash flows that are solely payments of principal and 
 interest on the principal amount outstanding.                                                                        |

| – | All other financial assets. |

For the purposes of this classification, the principal of a financial asset is its fair value at initial recognition, which could change over the life of the financial asset; for example, if there are repayments of principal. Interest is understood as the sum of consideration for the time value of money, for lending and structural costs, and for the credit risk associated with the principal amount outstanding during a particular period of time, plus a profit margin. If a financial asset contains contractual terms that could change the timing or amount of cash flows, the Group will estimate the cash flows that could arise before and after the change and determine whether these are solely payments of principal and interest (SPPI) on the principal amount outstanding. The most significant judgements used in this evaluation are indicated here below:

| – | Modified time value of money: in order to determine whether the interest rate of a transaction incorporates any                                                                                                                                        
 consideration other than that linked to the passage of time, transactions that present a