Company: BBVXF
Filing Date: 2025-02-27
Form Type: F-4/A
Source: 0001193125-25-037317
Chunk: 700

Company: BANCO BILBAO VIZCAYA ARGENTARIA, S.A.
Filing Date: 2025-02-27
Form: F-4/A
Chunk 700
---
                                                                                      |

| – | IT change: risk arising from errors in the change and development processes of information systems. |

| – | Data integrity: risk of data stored and processed by IT systems being incomplete, inaccurate or inconsistent. |

| – | IT outsourcing: risk that engaging a third party or another Group entity (intra-group outsourcing) to provide IT                                                                                      
 systems, their management or related services produces a negative effect on the Institution’s performance (including impacts on customers, as well as reputational, regulatory or financial impacts). |

| – | IT governance: risk arising from inadequate or insufficient management and use of technology, as well as a poor 
 alignment of these technologies and their intended uses with the business strategy.                             |

| – | Technological transformation: risk associated with inappropriate adoption or inefficient use of technology within the 
 organisation for the development of new value propositions.                                                           |

| – | IT skills: risk arising from the insufficiency of adequate IT profiles (internal and/or external partners) to ensure 
 effective and efficient coverage of technological activities, processes and services.                                |

4.4.4.2 Tax risk With regard to tax risk, the tax risk policies of Banco Sabadell Group aim to establish the general guidelines for managing and controlling tax risk, specifying the applicable principles and critical parameters and covering all significant elements to systematically identify, assess and manage any risks that may affect the Group’s tax strategy and fiscal objectives, meeting the requirements of the Spanish Capital Companies Act and of Banco Sabadell Group stakeholders. In terms of tax risk, Banco Sabadell Group aims to fulfil its tax obligations at all times, adhering to the existing legal framework in this regard. Banco Sabadell Group’s tax strategy, approved by the Board of Directors, reflects its commitment to fostering responsible taxation, promoting preventive measures and developing key transparency schemes in order to gain the confidence and trust of its various stakeholders. The tax strategy is governed by the principles of efficiency, prudence, transparency and mitigation of tax risk, and it is aligned with the business strategy of Banco Sabadell Group. The Board of Directors of Banco Sabadell, under the mandate set out in the Spanish Capital Companies Act for the improvement of corporate governance, is responsible, and cannot delegate such responsibility, for the following:

| – | Setting the Institution’s tax strategy. |

| – | Approving investments and operations of all types which are considered to be strategic or to carry considerable tax                       
 risk due to their high monetary value or particular characteristics, except when such approval corresponds