Company: BBVXF
Filing Date: 2025-02-27
Form Type: F-4/A
Source: 0001193125-25-037317
Chunk: 455

Company: BANCO BILBAO VIZCAYA ARGENTARIA, S.A.
Filing Date: 2025-02-27
Form: F-4/A
Chunk 455
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 or fund employee benefits and are not available to creditors of the Group, even in the event of insolvency, (iii) they cannot be returned to the Group unless the assets remaining in the plan are sufficient to settle all obligations, either of the plan or of the Institution, relating to employee benefits, or unless assets are to be returned to the Bank to reimburse it for employee benefits previously paid, and (iv) they are not non-transferablefinancial instruments issued by the Group. The assets that back pension commitments shown in the standalone balance sheet of the insurance company BanSabadell Vida, S.A. de Seguros y Reaseguros are not plan assets, as the company is a related party of the Group. Pension commitments are recognised in the following way:

| – | In the consolidated income statement, net interest on the defined benefit liability (asset) net of pension                                                                                                                                     
 commitments as well as the cost of the services, which includes (i) the cost of services in the current period, (ii) the cost of past services arising from changes made to existing commitments or from the introduction of new benefits, and 
 (iii) any gain or loss arising from a settlement of the plan.                                                                                                                                                                                  |

| – | Under the heading “Accumulated other comprehensive income – Items that will not be reclassified to profit                                                                                                                                     
 or loss - Actuarial gains or (-) losses on defined benefit pension plans” in the consolidated statement of equity, the remeasurement of the net defined benefit liability (asset) for pension commitments, which includes (i) actuarial gains 
 and losses generated in the year arising from differences between the previous actuarial assumptions and the real situation and from changes in the actuarial assumptions made, (ii) the return on plan assets, and (iii) any change in the   
 effect of the asset ceiling, excluding, for the last two items, the amounts included in net interest on the defined benefit liability (asset).                                                                                                |

| – | The heading “Provisions – Other long term employee benefits” on the liabilities side of the                                                                                                                            
 consolidated balance sheet mainly includes the value of commitments undertaken with early retirees. Changes occurring during the year in the value of liabilities are recognised in the consolidated income statement. |

Actuarial assumptions The most relevant financial/actuarial assumptions used in the measurement of pension commitments as at 31 December 2023 and 2022 are as follows:

|                                      |     |                  2023 |     |                  2022 |
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