Company: BBVXF
Filing Date: 2025-09-09
Form Type: 424B3
Source: 0001193125-25-198517
Chunk: 528

Company: BANCO BILBAO VIZCAYA ARGENTARIA, S.A.
Filing Date: 2025-09-09
Form: 424B3
Chunk 528
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 determined based on whether or not there has been a significant increase in
credit risk since origination, or on whether or not any default events have occurred:

Guarantees

Effective guarantees are collateral and personal guarantees proven by the Group to be a valid means of mitigating credit risk.

Under no circumstances will guarantees whose effectiveness substantially depends on the credit quality of the debtor or, where applicable, of the
economic group of which the debtor forms part, be accepted as effective guarantees.

A-359

Based on the foregoing, the following types of guarantees can be considered to be effective guarantees:

| – | Real estate guarantees applied as first mortgage liens: |

| • |     | Completed buildings and completed component parts: |

| ○ | Housing units. |

| ○ | Offices, commercial premises and multi-purpose industrial buildings. |

| ○ | Other buildings, such as non-multi-purpose industrial buildings and hotels. |

| • |     | Urban land and regulated building land. |

| • |     | Other real estate. |

| – | Collateral in the form of pledged financial instruments: |

| • |     | Cash deposits. |

| • |     | Equity instruments in listed entities and debt securities issued by creditworthy issuers. |

| – | Other collateral: |

| • |     | Personal property received as collateral. |

| • |     | Subsequent mortgages on properties. |

| – | Personal guarantees such that direct liability to the customer falls to the new guarantors, who are persons or               
 entities whose solvency is sufficiently verified to ensure the full redemption of the transaction under the terms set forth. |

The Group has collateral valuation criteria for assets located in Spain that are in line with prevailing legislation. In particular, the Group applies criteria for the selection and hiring of appraisers that are geared towards assuring their independence and the quality of the appraisals. All of the appraisers used are appraisal companies that have been entered in the Bank of Spain Special Register of Appraisal Firms, and the appraisals are carried out in accordance with the criteria established in Order ECO/805/2003 on rules for the appraisal of real estate and particular rights for specific financial purposes. Real estate guarantees for loan transactions are valued on the date they are granted, while real estate assets are valued on the date on which they are recognised, whether as a result of a purchase, foreclosure or a payment in kind, and also whenever there is a significant reduction in value. In addition, the criteria