Company: BBVXF
Filing Date: 2025-09-09
Form Type: 424B3
Source: 0001193125-25-198517
Chunk: 505

Company: BANCO BILBAO VIZCAYA ARGENTARIA, S.A.
Filing Date: 2025-09-09
Form: 424B3
Chunk 505
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 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 risk of the underlying pool of financial instruments.                                                      |

| – | Non-recourse financial assets: in the case of debt instruments that are                                                                                                                                                                             
 primarily repaid with cash flows from specified assets or projects and for which there is no personal liability for the holder, an assessment is made of the underlying assets or cash flows to determine whether the contractual cash flows of the 
 instrument are payments of principal and interest on the principal amount outstanding.                                                                                                                                                              |

For cases in which a financial asset characteristic is inconsistent with a basic lending arrangement (i.e. if one of the asset’s characteristics gives rise to contractual cash flows other than payments of principal and interest on the principal amount outstanding), the significance and probability of occurrence is assessed to determine whether that characteristic should be taken into account in the SPPI test:

| – | To determine the significance of a financial asset characteristic, the impact that it could have on contractual cash                                                                                    
 flows is estimated. The impact is not considered significant (de minimis effect) if it is estimated that the change in expected cash flows will be below the tolerance thresholds indicated previously. |

| – | If an instrument’s characteristic could have a significant effect on the contractual cash flows but would only                                                                                                                                      
 affect the instrument’s contractual cash flows upon occurrence of an event that is very unlikely to occur, that characteristic will not be taken into account to determine whether the contractual cash flows of the instrument are solely payments 
 of principal and interest on the principal amount outstanding.                                                                                                                                                                                      |

A-342

Portfolios of financial instruments classified for the purpose of their measurement Financial assets and financial liabilities are classified, for the purpose of their measurement, into the following portfolios, based on the aspects described above: Financial assets at amortised cost This category includes financial assets that meet the following two conditions:

| – | They are managed with a business model whose objective is to hold financial assets in order to collect contractual 
 cash flows; and                                                                                                    |

| – | Their contractual terms give rise on specified dates to cash flows that are solely payments of principal and interest 
 on the principal amount outstanding.                                                                                  |

This category comprises investments associated with typical lending activities, such as amounts loaned to customers withdrawn in cash and not yet repaid, deposits placed with other institutions, regardless of the legal arrangements under