Company: BBVXF
Filing Date: 2025-09-09
Form Type: 424B3
Source: 0001193125-25-198517
Chunk: 566

Company: BANCO BILBAO VIZCAYA ARGENTARIA, S.A.
Filing Date: 2025-09-09
Form: 424B3
Chunk 566
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 a holistic view of risk: it includes all risks, paying particular attention to the correlation between them (inter-risk) and within the risk itself (intra-risk), as well as the effects of concentration.

| – | Alignment with the interests of stakeholders |

The Group regularly makes material disclosures to the public, so that market participants can maintain an informed opinion as to the suitability of the management and control framework for these risks, thus ensuring transparency in risk management. Similarly, risks are managed and controlled with a view to safeguarding the interests of the Group and its shareholders at all times. A-385

4.3.2 Risk Appetite Framework (RAF)

The risk appetite is a key element in setting the risk strategy, as it determines the scope of activity. The Group has a Risk Appetite Framework (RAF)
that sets out the governance framework governing its risk appetite.

Consequently, the RAF establishes the structure and mechanisms associated with
the governance, definition, disclosure, management, measurement, monitoring and control of the Group’s risk appetite established by the Board of Directors of Banco de Sabadell, S.A.

Effective implementation of the RAF requires an adequate combination of policies, processes, controls, systems and procedures that enable a set of
defined targets and objectives to not only be achieved, but to be done so in an effective and continuous way.

The RAF covers all of the
Group’s business lines and units, in accordance with the proportionality principle, and it is designed to enable suitably informed decisions to be made, taking into account the material risks to which it is exposed, including both financial
and non-financial risks.

The RAF is aligned with the Group’s strategy and with the strategic
planning and budgeting processes, the internal capital and liquidity adequacy assessments, the Recovery Plan and the remuneration framework, among other things, and it takes into account the material risks to which the Group is exposed, as well as
their impact on stakeholders such as shareholders, customers, investors, employees and the general public.

4.3.3 Risk Appetite Statement (RAS)

The RAS is a key element in determining the Institution’s risk strategies. It establishes qualitative expressions and quantitative limits for the
different risks that the Institution is willing to accept, or seeks to avoid, in order to achieve its business objectives. Depending on the nature of each risk, the RAS includes both qualitative aspects and quantitative metrics, which are expressed
in terms of capital, asset quality, liquidity, profitability or any other measure deemed