Company: BBVXF
Filing Date: 2025-02-14
Form Type: 6-K
Source: 0001193125-25-027348
Chunk: 103

Company: BANCO BILBAO VIZCAYA ARGENTARIA, S.A.
Filing Date: 2025-02-14
Form: 6-K
Chunk 103
---
 the benefits that are foreseen from the dispensation. The waiver will be granted via an express and separate resolution to be passed by the General Shareholders’ Meeting. In other cases, the authorization may also be resolved by the Board of Directors, provided that the independence of the members conferring it is guaranteed with respect to the director receiving the dispensation. Moreover, it will be necessary to ensure that the authorized transaction will not do harm to the corporate net worth or, where applicable, that it is carried out under market conditions and that the process is transparent. Approval by the Board of Directors of the transactions of the Bank or companies within its Group with directors will be granted, where appropriate, after receiving a report from the Audit Committee. Since BBVA is a credit institution, it is also subject to the provisions of Act 10/2014, of 26 June, on the regulation, supervision and solvency of credit institutions (“LOSS”), whereby the directors and general managers or similar may not obtain credits, bonds or guarantees from the Bank on whose board or management they work, above the limit and under the terms established in article 35 of Royal Decree 84/2015, implementing the LOSS, unless expressly authorized by the Bank of Spain. Furthermore, all members of the Board of Directors and BBVA Senior Management are subject to the provisions of the BBVA Code of Conduct, the Group’s General Policy on Conflicts of Interest and the Internal Standards of Conduct in the Securities Markets, which establish principles and guidelines to identify, prevent and manage potential conflicts of interest. In 2024, the implementation of the new corporate tool for logging and managing conflicts of interest affecting employees and Senior Management was completed in most of the geographic areas in which BBVA is present. Various initiatives to raise awareness of conflicts of interest were also carried out in 2024. This English version is a translation of the original in Spanish for information purposes only. In case of discrepancy the original in Spanish shall prevail.

Annual Corporate Governance Report of BBVA .107.. 13. Risk management and control systems 13.1. Risk governance at BBVA (E.2) A. Corporate bodies One of the main elements of the BBVA Group’s risk governance model is the participation of its corporate bodies, both in setting the risk strategy and in the continuous monitoring and oversight of its implementation. To help ensure the proper performance of the risk management, supervision and control functions by the Board of Directors, the Corporate Governance System envisions the existence of various Committees to assist it in