Company: BBVXF
Filing Date: 2025-08-12
Form Type: DRS
Source: 0000950123-25-007520
Chunk: 704

Company: BANCO BILBAO VIZCAYA ARGENTARIA, S.A.
Filing Date: 2025-08-12
Form: DRS
Chunk 704
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 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 by the aforesaid bank in 1991 as an agency with a separate legal personality. All obligations with respect to serving and former employees are insured by entities outside the Group. A-484

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. Internal funds Internal funds are used to settle obligations with early retirees up to their legal retirement age and relate to employees previously working for Banco Sabadell. The origins of liabilities recognised in