Company: BBVXF
Filing Date: 2025-02-27
Form Type: F-4/A
Source: 0001193125-25-037317
Chunk: 629

Company: BANCO BILBAO VIZCAYA ARGENTARIA, S.A.
Filing Date: 2025-02-27
Form: F-4/A
Chunk 629
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 are recognised in the consolidated income statement. A-508

Actuarial assumptions The most relevant financial/actuarial assumptions used in the measurement of pension commitments at 31 December 2022 and 2021 are as follows:

|                                      |     |                  2022 |     |                  2021 |
| Tables                               |     | PER2020_Col_1er.orden |     | PER2020_Col_1er.orden |
| Discount rate, pension plan          |     |       3.25% per annum |     |       1.00% per annum |
| Discount rate, internal fund         |     |       3.25% per annum |     |       1.00% per annum |
| Discount rate, related insurance     |     |       3.25% per annum |     |       1.00% per annum |
| Discount rate, non-related insurance |     |       3.25% per annum |     |       1.00% per annum |
| Inflation                            |     |       2.00% per annum |     |       2.00% per annum |
| Rate of increase in salaries         |     |       3.00% per annum |     |       3.00% per annum |
| Employee disability                  |     |         SS90-Absolute |     |         SS90-Absolute |
| Employee turnover                    |     |        Not considered |     |        Not considered |
| Early retirement                     |     |            Considered |     |            Considered |
| Normal retirement age                |     |        65 or 67 years |     |        65 or 67 years |

In 2022 and 2021, the discount rate on all commitments has been determined by reference to the return on AA-ratedcorporate bonds (iBoxx €Corporates AA 10+), with an average duration of 13 and 13.7 years, respectively. The early retirement age considered is the earliest retirement date after which pension entitlements cannot be revoked by the employer for 100% of the employees. The return on long-term assets corresponding to plan assets and insurance policies linked to pensions has been determined by applying the same discount rate used in actuarial assumptions (3.25% and 1.00% in 2022 and 2021, respectively). 1.3.18 Foreign currency transactions and exchange differences The Group’s functional and reporting currency is