Company: BBVXF
Filing Date: 2025-09-09
Form Type: 424B3
Source: 0001193125-25-198517
Chunk: 463

Company: BANCO BILBAO VIZCAYA ARGENTARIA, S.A.
Filing Date: 2025-09-09
Form: 424B3
Chunk 463
---
 Supreme Court referred the matter to the Court of Justice of the European Union (CJEU) for a preliminary ruling, which was issued on 4 July 2024. An appeal in cassation before the Supreme Court remains pending. The remaining provisions mainly relate to customer claims in connection with the repayment of mortgage arrangement fees, developer deposit funds and the application of unfair interest rates to deferred credit card payments, with the provision set aside amounting to 81 million euros as at 31 December 2024 (69 million euros as at 31 December 2023).

| – | Provisions to cover the anticipated costs relating 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