Company: BBVXF
Filing Date: 2025-02-27
Form Type: F-4/A
Source: 0001193125-25-037317
Chunk: 585

Company: BANCO BILBAO VIZCAYA ARGENTARIA, S.A.
Filing Date: 2025-02-27
Form: F-4/A
Chunk 585
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 modified. At present, tolerance thresholds of 10% and 5%, respectively, are used for the differences in each tenor and for the analysis of cumulative cash flows over the life of the financial asset.                                                 |

| – | Contractual terms that change the timing or amount of cash flows: an analysis is carried out to determine whether any 
 contractual terms exist that could change the timing or amount of contractual cash flows from the financial asset:    |

| • |     | Clauses for conversion to equity shares: clauses that include a conversion-to-equity option and the loss of the right to claim contractual cash flows in the event the principal amount is reduced due to insufficient funds. Contracts that include this option will 
 automatically fail the SPPI test.                                                                                                                                                                                                                                     |

| • |     | Existence of the option to prepay or extend the financial instrument, or extend the contractual term, and possible                                                                                                                                      
 residual compensation: a financial asset will fulfil the SPPI test requirements if it includes a contractual option that permits the issuer (or debtor) to prepay a debt instrument or to put back a debt instrument before maturity and the prepayment 
 amount substantially represents unpaid amounts of principal and interest outstanding, which may include reasonable additional compensation for the early termination of the contract.                                                                   |

A-478

| • |     | Other clauses that could change the timing or amount of cash flows: clauses that could alter contractual cash flows as 
 a result of changes in credit risk are considered to pass the SPPI test.                                               |

| – | Leverage: financial assets with leverage (i.e. those in which the contractual cash flow variability increases, such                          
 that they do not have the same economic characteristics as the interest rate on the principal amount of the transaction) fail the SPPI test. |

| – | Contractually linked financial instruments: the cash flows arising from these types of financial instruments are      
 considered to consist solely of payments of principal and interest on the principal amount outstanding provided that: |

| • |     | the contractual terms of the tranche being assessed for classification (without looking through to the underlying pool                    
 of financial instruments) give rise to cash flows that are solely payments of principal and interest on the principal amount outstanding; |

| • |     | the underlying pool of financial instruments comprises instruments whose contractual cash flows are solely payments of 
 principal and interest on the principal amount outstanding; and                                                        |

| • |     | the exposure to credit risk corresponding to the tranche being assessed is equal to or lower than the exposure to 
 credit