Company: BBVXF
Filing Date: 2025-09-09
Form Type: 424B3
Source: 0001193125-25-198517
Chunk: 716

Company: BANCO BILBAO VIZCAYA ARGENTARIA, S.A.
Filing Date: 2025-09-09
Form: 424B3
Chunk 716
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 existence will be confirmed only by the occurrence or non-occurrenceof events not wholly within the control of the Group. These contingent assets are not recognised on the consolidated balance sheet or in the consolidated income statement, but they are disclosed in the corresponding report where an inflow of economic benefits is probable. 1.3.17 Provisions for pensions The Group’s pension commitments to its employees are as follows: Defined contribution plans These are plans under which fixed contributions are made to a separate entity in accordance with the agreements entered into with each particular group of employees, without any legal or constructive obligation to make further contributions if the separate entity is unable to pay all employee benefits relating to employee service in the current and prior periods. These contributions are recognised each year in the consolidated income statement (see Note 33). Defined benefit plans 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: the pension plan, insurance contracts, the voluntary social welfare agency (E.P.S.V.) and internal funds. Pension plan Banco Sabadell’s employee pension plan covers benefits payable under the aforesaid 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. |

| – | Disability or incapacity arising 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 Banco Sabadell employee pension plan 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. A Control Board has been created for the pension plan, 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:

| – | Commitments that are expressly excluded from the Banco Sabadell employee pension plan (listed in the previous 
 section).                                                                                                     |

| – | Serving employees covered by a collective bargaining agreement of Banco Atlántico. |

| – | Pension commitments in respect of some serving employees not provided for under the collective bargaining agreement. |

| – | Commit