Company: BBVXF
Filing Date: 2025-08-12
Form Type: DRS
Source: 0000950123-25-007520
Chunk: 645

Company: BANCO BILBAO VIZCAYA ARGENTARIA, S.A.
Filing Date: 2025-08-12
Form: DRS
Chunk 645
---
%  |     | 2.4% |     | 31.0% |     | 14.5% |     | 11.8% |     | 9.0% |     | 4.6% |     | 2.5% |     | 1.9% |     | 2.2% |     | 1.5% |     | 0.7% |     | 0.1% |     | 0.4%  |     | 100%  |

A-405

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.

| %                        |     |      |      |   |     |      |       |
|                          |     | 2023 |      |   |     | 2022 |       |
| Eurozone                 |     |      | 77.3 | % |     |      | 70.7% |
| Rest of Europe           |     |      | 16.9 | % |     |      | 24.5% |
| United States and Canada |     |      |  3.0 | % |     |      | 3.0%  |
| Rest of the world        |     |      |  2.8 | % |     |      | 1.8%  |
| Total                    |     |      |  100 | % |     |      | 100%  |

As can be seen in the table, the risk is concentrated in counterparties with a high credit quality, with 82% of the risk relating to counterparties rated A, whereas as at 31 December 2022 this concentration was 86%. In 2016, under the European Market Infrastructure Regulation (EMIR) (Regulation 648/2012), the obligation to settle and clear certain over-the-counter(OTC) derivatives through central counterparty clearing houses (CCPs) began to apply to the Group. For this reason, the derivatives arranged by the Group and subject to the foregoing are channelled via these agents. At the same time, the Group has improved the standardisation of OTC derivatives with a view to fostering the use of clearing houses. The exposure to risk with CCPs largely depends on the value of the deposited guarantees. With regard to