Company: BBVXF
Filing Date: 2025-09-09
Form Type: 424B3
Source: 0001193125-25-198517
Chunk: 454

Company: BANCO BILBAO VIZCAYA ARGENTARIA, S.A.
Filing Date: 2025-09-09
Form: 424B3
Chunk 454
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 on the type of asset, the methods used for the valuation of the Group’s portfolio are the following:

| – | Completed buildings: valued using the comparison method, the rental update method or the statistical model 
 (Level 2).                                                                                                 |

| – | Buildings under construction: valued using the cost method as a sum of the land value and the value of the 
 work carried out (Level 3).                                                                                |

| – | Land: valued using the residual method (Level 3). |

Determination of the fair value of real estate assets The following tables show the main real estate assets broken down by the valuation method used to estimate their fair value as at 31 December 2024 and 2023:

| Thousand euro                               |     |         |   |     |         |           |     |         |        |     |       |           |
|                                             |     |    2024 |   |     |         |           |     |         |        |     |       |           |
|                                             |     | Level 1 |   |     | Level 2 |           |     | Level 3 |        |     | Total |           |
| Housing                                     |     |         | — |     |         |   490,675 |     |         |      — |     |       |   490,675 |
| Branches and offices, retail establishments 
 and other real estate                       |     |         | — |     |         |   778,903 |     |         |      — |     |       |   778,903 |
| Land and building plots                     |     |         | — |     |         |         — |     |         | 22,754 |     |       |    22,754 |
| Work in progress                            |     |         | — |     |         |         — |     |         |    347 |     |       |       347 |
| Total assets                                |     |         | — |     |         | 1,269,578 |     |         | 23,101 |     |       | 1,292,679 |
| Thousand euro                               |     |         |   |     |         |           |     |         |        |     |       |           |
|                                             |     |    2023 |   |     |         |           |     |         |        |     |       |           |
|                                             |     | Level 1 |   |     | Level