Company: BBVXF
Filing Date: 2025-09-09
Form Type: 424B3
Source: 0001193125-25-198517
Chunk: 644

Company: BANCO BILBAO VIZCAYA ARGENTARIA, S.A.
Filing Date: 2025-09-09
Form: 424B3
Chunk 644
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 A-483

Pensions and similar obligations Defined benefit plans cover all existing commitments arising from the application of the Collective Bargaining Agreement for Banks (Convenio Colectivo de Banca). These commitments are financed through the following vehicles: Pension plan Banco Sabadell’s employee pension plan covers the benefits detailed above payable under the collective bargaining agreement with employees belonging to regulated groups, with the following exceptions:

| – | Additional commitments due to early retirement, as set out in the Collective Bargaining Agreement for Banks. |

| – | Supervening incapacity in certain circumstances. |

| – | Widowhood and orphanhood benefits arising from the death of a retired member of staff who began their employment 
 after 8 March 1980.                                                                                              |

Banco Sabadell’s employee pension plan is regarded to all intents and purposes as a plan asset for the obligations insured by entities outside of the Group. Obligations of the pension plan insured by the Group’s associate entities are not considered plan assets. A Control Board has been created for the pension plan, formed of representatives of the sponsor and representatives of the participants and beneficiaries. This Control Board is the body responsible for supervising its operation and execution. Insurance contracts Insurance contracts generally cover certain commitments arising from the Collective Bargaining Agreement for Banks, including in particular:

| – | Commitments expressly excluded from Banco Sabadell’s employee pension plan (indicated in the previous section). |

| – | Serving employees covered by a collective bargaining agreement of Banco Atlántico. |

| – | Pension commitments undertaken with certain serving employees not provided for under the collective bargaining 
 agreement.                                                                                                     |

| – | Commitments towards employees on extended leave of absence not covered with benefits accrued in Banco 
 Sabadell’s employee pension plan.                                                                     |

| – | Commitments towards early retirees; these may be partly financed with benefits accrued in Banco Sabadell’s 
 employee pension plan.                                                                                     |

These insurance policies have been arranged with insurers outside the Group, whose insured commitments are mainly those towards former Banco Atlántico employees, and with BanSabadell Vida, S.A. de Seguros y Reaseguros. Voluntary social welfare agency (Entidad de Previsión Social Voluntaria, or E.P.S.V.) The acquisition and subsequent merger of Banco Guipuzcoano resulted in the takeover of Gertakizun, E.P.S.V., which covers defined benefit commitments in respect of serving and former employees, who are insured by policies. It was set up