Company: BBVXF
Filing Date: 2025-02-14
Form Type: 6-K
Source: 0001193125-25-027343
Chunk: 77

Company: BANCO BILBAO VIZCAYA ARGENTARIA, S.A.
Filing Date: 2025-02-14
Form: 6-K
Chunk 77
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, with the provisions of Act 10/2014, of June 26, on the regulation, supervision and solvency of credit institutions and its implementing regulations. These rules aim to further align BBVA’s remuneration practices with applicable regulations, good governance recommendations and best market practices. The result is an incentive scheme that is geared towards aligning the remuneration of the members of the Identified Staff with the creation of value and the Group’s business strategy and long-term objectives, values and interests, as well as and with prudent risk management, including elements which are aimed at reducing exposure to excessive risks. In the total remuneration of the members of the Identified Staff, the fixed and variable components shall be appropriately balanced, ensuring a fully flexible policy with regard to payment of the variable components such that they may be reduced, even to zero. For these purposes, the Bank has defined “target” ratios between the main components of total remuneration (fixed/variable), taking into account both the duties carried out by each member of the Identified Staff and their impact on the risk profile. To strengthen the independence and objectivity of the control functions and to better reflect the nature of their duties, the fixed components of their remuneration have a greater weight than the variable components, with the latter being, mostly, related to the specific targets of the function and the individual targets of each beneficiary. 11 All members of the Board of Directors of BBVA are members of the Identifi ed Staff by virtue of applicable regulations. However, their remuneration is governed by a specifi c remuneration policy, as described in section 2 of this Report, and they are therefore expressly excluded from the scope of application of the Group General Remuneration Policy. 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 Report on the Remuneration of BBVA Directors 63 The variable component of remuneration for a given financial year shall be limited to a maximum amount of 100% of the fixed component of total remuneration, unless the General Shareholders’ Meeting resolves to increase this percentage, up to a maximum of 200%. The Annual Variable Remuneration of the members of the Identified Staff includes, as well as that of the executive directors, a Short-Term Incentive and a Long-Term Incentive, for the award of which the profit and capital ratio thresholds approved by the Board of Directors, which constitute a minimum level