Company: BBVXF
Filing Date: 2025-08-12
Form Type: DRS
Source: 0000950123-25-007520
Chunk: 313

Company: BANCO BILBAO VIZCAYA ARGENTARIA, S.A.
Filing Date: 2025-08-12
Form: DRS
Chunk 313
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 the Subordinated Bonds 1/2016 series, because it was issued before 27 June 2019, is noteworthy; these bonds had contributed 86 million euros to Tier 2. Risk-Weighted Assets (RWAs) declined by 1,272 million euros in the period, mainly as a result of a reduction of credit RWAs. This reduction is essentially due to the entry into force of CRR III, the impact of the currency effect, the improved portfolio density and the synthetic securitisation of a 1,350 million euro portfolio of business loans in May 2025. These effects are partially offset by the growth in lending during the period. Lastly, the increase in operational RWAs is notable, due to the new calculation approach introduced by CRR III. CRR Ill incorporates a set of transitional provisions intended to facilitate the gradual adaptation of financial institutions to the new capital requirements, thereby minimising the possibility of sudden unforeseen impacts on their solvency levels. These measures affect both the calculation of RWAs and the implementation of the output floor. In particular, the new approach considers, among other things, a gradual application of the regulatory changes related to the calculation of RWAs for exposures in equity instruments and for A-35

As confidentially submitted to the Securities and Exchange Commission on August 11, 2025. This Amendment No. 4 has not been publicly filed with the Securities and Exchange Commission and all information herein remains strictly confidential. Unconditionally Cancellable Commitments (UCCs). It also establishes a phased transition for the introduction of the output floor, allowing a phased implementation of the multiplier applicable to the Standardised Total Risk Exposure Amount (STREA) to determine the output floor and, additionally, establishing transitional arrangements for the calculation of the STREA applicable to exposures with businesses that have a Probability of Default (PD) of less than 0.5% and to securitisation positions. As at 30 June 2025, the fully-loaded CET1 ratio, without applying the transitional arrangements introduced by CRR III, stands at 13.56%. Furthermore, the fully-loaded total capital ratio stands at 19.29%. As indicated previously (see Note 1.7), the Bank’s Board of Directors has committed to distribute any excess capital above the 13% CET1 ratio 6to shareholders on a recurrent basis. After deducting this amount, the CET1 capital ratio stands at 13.06% in phase-interms and at 13.00%