Company: BBVXF
Filing Date: 2025-09-05
Form Type: F-4/A
Source: 0001193125-25-196513
Chunk: 471

Company: BANCO BILBAO VIZCAYA ARGENTARIA, S.A.
Filing Date: 2025-09-05
Form: F-4/A
Chunk 471
---
 to restructuring plans in Spain announced in previous years and 
 pending final implementation amounting to 56 million euros as at 31 December 2024 and 2023.                        |

| – | Provisions for legal contingencies deriving from claims filed by certain TSB customers. The estimated potential cost                                                                          
 of compensation payable, which includes compensatory interest and associated operational costs, amounted to 9 million euros as at 31 December 2024 (19 million euros as at 31 December 2023). |

| – | Provisions to cover the anticipated costs relating to restructuring in TSB and pending final implementation amounting                                                                           
 to 13 million euros as at 31 December 2024 (35 million euros as at 31 December 2023), of which 10 million euros were allocated in 2024 (26 million euros as at 31 December 2023) (see Note 33). |

The final disbursement amount and the payment schedule are uncertain due to the difficulties inherent in estimating the factors used to determine the amount of the provisions set aside. A-255

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 (hereinafter, BSEPP) covers the benefits 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.                                                                                              |

The BSEPP 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. Those obligations are considered as reimbursement rights. A Control Board has been created for the BSEPP, 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 the BSEPP (indicated in the previous section). |