Company: BBVXF
Filing Date: 2025-08-12
Form Type: DRS
Source: 0000950123-25-007520
Chunk: 697

Company: BANCO BILBAO VIZCAYA ARGENTARIA, S.A.
Filing Date: 2025-08-12
Form: DRS
Chunk 697
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 on inflation-linked bonds, recognised under the heading “Financial assets at                                   
 amortised cost”. The Group has arranged financial swaps to hedge future changes in cash flows that will be settled by inflation-linked bonds. |

| G. | Hedges against foreign exchange risk on permanent investments currently cover 393 million pounds sterling and                                                                                                                    
 8,553 million Mexican pesos corresponding to interests held in Group entities (333 million pounds sterling and 9,253 million Mexican pesos as at 31 December 2022) and 480 million US dollars corresponding to interests held in 
 foreign branches (425 million US dollars as at 31 December 2022). All of these hedges are arranged through currency forwards.                                                                                                    |

| H. | Macro-hedges of the Institution’s funding operations in capital markets and transactions involving term deposits  
 and demand deposits arranged by customers recognised under the heading “Financial liabilities at amortised cost”. |

| I. | Macro-hedges of debt securities classified under the headings “Financial assets at fair value through other                                                                              
 comprehensive income” and “Financial assets at amortised cost”, and of fixed-rate mortgage loans granted to customers recognised under the heading “Financial assets at amortised cost”. |

| J. | Macro-hedges of floating-rate mortgage loans granted to customers recognised under the heading “Financial assets                                 
 at amortised cost”. The average rate of interest rate swaps used for this hedge was 3.87% as at 31 December 2023 (3.59% as at 31 December 2022). |

The maturity profiles of the hedging instruments used by the Group as at 31 December 2023 and 2022 are shown below:

| Thousand euro         |     |         |           |     |               |           |     |         |            |     |               |            |     |             |            |     |       |            |
|                       |     |    2023 |           |     |               |           |     |         |            |     |               |            |     |             |            |     |       |            |
|                       |     | Nominal |           |     |               |           |     |         |            |     |               |            |     |             |            |     |       |            |
|                       |     | Up to 1 
   month |           |     | 1 to 3 months |           |     | 3 to 12 
 months  |            |     | 1 and 5 years |