Company: BBVXF
Filing Date: 2025-02-27
Form Type: F-4/A
Source: 0001193125-25-037317
Chunk: 260

Company: BANCO BILBAO VIZCAYA ARGENTARIA, S.A.
Filing Date: 2025-02-27
Form: F-4/A
Chunk 260
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 owned by the Group but by a legally separate third party not qualifying as a related party, (ii) they are only available to pay or fund employee benefits and are not available to creditors of the Group, even in the event of insolvency, (iii) they cannot be returned to the Group unless the assets remaining in the plan are sufficient to settle all obligations, either of the plan or of the Institution, relating to employee benefits, or unless assets are to be returned to the Bank to reimburse it for employee benefits previously paid, and (iv) they are not non-transferablefinancial instruments issued by the Group. The assets that back pension commitments shown in the standalone balance sheet of the insurance company BanSabadell Vida, S.A. de Seguros y Reaseguros, also called reimbursement rights or pension-linked insurance contracts, are not plan assets, as the company is a related party of the Group (see Note 17). Pension commitments are recognised in the following way:

| – | In the consolidated income statement, net interest on the defined benefit liability (asset) net of pension                                                                                                                               
 commitments as well as the service cost, which includes (i) the service cost in the current period, (ii) the past service cost arising from changes made to existing commitments or from the introduction of new benefits, and (iii) any 
 gain or loss arising from a settlement of the plan.                                                                                                                                                                                      |

A-45

| – | Under the heading “Accumulated other comprehensive income – Items that will not be reclassified to profit                                                                                                                                          
 or loss - Actuarial gains or (-) losses on defined benefit pension plans” in the consolidated statement of equity, the remeasurement of the net defined benefit liability (asset) for pension commitments, which includes (i) actuarial gains      
 and losses generated in the year arising from differences between the previous actuarial assumptions and the reality, and from changes in the actuarial assumptions made, and (ii) the return on plan assets. The amounts included in net interest 
 on the defined benefit liability (asset) are not included in either case.                                                                                                                                                                          |

| – | The heading “Provisions – Other long term employee benefits” on the liabilities side of the                                                                                                                            
 consolidated balance sheet mainly includes the value of commitments undertaken with early retirees. Changes occurring during the year in the value of liabilities are recognised in the consolidated income statement. |

Actuarial assumptions The most relevant financial/actuarial assumptions used in the measurement of pension commitments as at