Company: BBVXF
Filing Date: 2025-08-12
Form Type: DRS
Source: 0000950123-25-007520
Chunk: 550

Company: BANCO BILBAO VIZCAYA ARGENTARIA, S.A.
Filing Date: 2025-08-12
Form: DRS
Chunk 550
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 on the balance sheet (see Notes 1.3.9, 1.3.10, 1.3.13 and 6). |

| – | The recoverability of non-monetisable deferred tax assets and tax credits 
 (see Notes 1.3.20 and 39).                                                |

The estimates are based on the best knowledge available of current and foreseeable circumstances, taking into account the uncertainties stemming from the existing economic environment, consequently, the final results could differ from these estimates. A-337

As confidentially submitted 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. 1.3 Accounting principles and policies and measurement criteria The accounting principles and policies, as well as the most significant measurement criteria applied in preparing these consolidated annual financial statements, are described below. There are no cases in which accounting principles or measurement criteria have not been applied because of a significant effect on the Group’s consolidated annual financial statements for 2023. 1.3.1 Consolidation principles In the consolidation process, a distinction is drawn between subsidiaries, joint ventures, associates and structured entities. Subsidiaries Subsidiaries are entities over which the Group has control. This occurs when the Group is exposed, or has rights, to variable returns as a result of its involvement with the investee and when it has the ability to influence those returns through its power over the investee. For control to exist, the following criteria must be met:

| – | Power: an investor has power over an investee when that investor has existing rights which give them with the ability 
 to direct the significant activities, i.e. those that significantly affect the investee’s returns.                    |

| – | Returns: an investor is exposed, or has rights, to variable returns due to their involvement with the investee when                                                                                                  
 the returns obtained from such involvement have the potential to vary as a result of the investee’s economic performance. The investor’s returns can be only positive, only negative, or both positive and negative. |

| – | Relationship between power and returns: an investor controls an investee if the investor not only has power over the                                                                                                             
 investee and is exposed, or has rights, to variable returns due to their involvement with the investee, but also has the ability to use that power to influence the returns obtained due to their involvement with the investee.