Company: BBVXF
Filing Date: 2025-03-21
Form Type: 6-K
Source: 0000842180-25-000016
Chunk: 214

Company: BANCO BILBAO VIZCAYA ARGENTARIA, S.A.
Filing Date: 2025-03-21
Form: 6-K
Chunk 214
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 of geographic areas and coverage offered to different groups of employees. These groups have been

| PILLAR 3 2024 |     | 5. INFORMATION ON REMUNERATION |     | P.229 |

formed according to parameters that, among others, include, origin (meaning the Entity of the Group in which the employees initiated the employment relationship); date of entry; and the level or category of responsibility within the organization.

In general, BBVA's pension schemes to cover the retirement contingency are defined-contribution. Contributions to the Group's employee pension schemes are made within the framework of relevant labour law and individual or group agreements applicable to each Group Entity, sector or geographic area.

The scope of the system (cover for retirement, death and disability) for each group is defined in consideration of the three factors mentioned above.

The basis for the calculation of the benefits described (commitments for retirement, death and disability) are established using fixed annual amounts; there are no temporary fluctuations derived from variable components or Individual results.

However, in accordance with Bank of Spain Circular 2/2016, 15% of the annual contributions covering the retirement contingency of the members of Senior Management of BBVA shall be considered "discretionary pension benefits" and therefore shall depend on variable components and be subject to the conditions established for these instruments in the aforementioned Circular.

To comply with the above, the annual amount of the "discretionary pension benefits" will be determined by reference to the result of the Annual Variable Remuneration awarded in each financial year and the following rules will apply:

– They shall form part of the total amount of variable remuneration for the purposes of the maximum limit between fixed and variable remuneration;

– They shall be paid in full in BBVA shares;

– They shall be subject to a five-year withholding period from the date on which the beneficiary ceases to render services to the Bank for any reason; and

– During the aforementioned five-year withholding period, the Bank may apply, if the corresponding conditions are met, the malus and clawback arrangements applicable to Annual Variable Remuneration.

More detailed information on the implementation of the pension obligations for executive directors and other members of senior management in the 2024 financial year can be found in Note 54 of the Annual Report of the BBVA Group's Consolidated Financial Statements for the 2024 financial year, available on the Bank's corporate website (www.bbva.com).

The detailed description of the remuneration system applicable to BBVA directors in 202