Company: BBVXF
Filing Date: 2025-02-14
Form Type: 6-K
Source: 0001193125-25-027343
Chunk: 28

Company: BANCO BILBAO VIZCAYA ARGENTARIA, S.A.
Filing Date: 2025-02-14
Form: 6-K
Chunk 28
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, business, activity and regions and markets in which they operate: Thus, the institutions that make up the peer group for remuneration purposes are global banking groups that either have a good domestic positioning or are banking groups with geographical diversification, which often include a significant presence in emerging countries, Latin America and/or the United States. These institutions also have a balance sheet size and/or a business model similar to BBVA’s, with a significant weight of retail business in general terms and/or are committed to digitalization as a strategic priority. Executive director Annual Fixed Remuneration Target Annual Variable Remuneration Chair 45% 55% CEO 45% 55% Peer group of comparable institutions for remuneration purposes Banco Santander (Spain) Deutsche Bank (Germany) CaixaBank (Spain) Commerzbank (Germany) BNP Paribas (France) Unicredito Italiano (Italy) Société Générale (France) Intesa San Paolo (Italy) Barclays (United Kingdom) ING Group (Netherlands) HSBC (United Kingdom) Scotiabank (Canada) Lloyds Banking Group (United Kingdom) Banorte (Mexico) 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 24 As regards the variable remuneration model, the executive directors are granted an Annual Variable Remuneration which is awarded each financial year and which, as from 2023, comprises a Short-Term Incentive and a Long-Term Incentive. The Annual Variable Remuneration of executive directors is subject to the same accrual, award, vesting and payment rules applicable to the Annual Variable Remuneration of the Identified Staff, albeit with certain specificities due to their status as directors. Thus, in order to align remuneration with effective risk management, the Policy sets out the following rules: ? Accrual and award of Annual Variable Remuneration In order to ensure alignment and linkage with the results and long-term sustainability of the Institution, the annual variable remuneration of executive directors will not accrue, or will be reduced upon accrual, in the event that a certain level of profi ts and capital ratio approved by the Board of Directors is not reached, which are equally applicable to the rest of the Group’s workforce. Likewise, the annual variable remuneration will be reduced at the time the executive directors’ performance is assessed