Company: BBVXF
Filing Date: 2025-02-27
Form Type: F-4/A
Source: 0001193125-25-037317
Chunk: 286

Company: BANCO BILBAO VIZCAYA ARGENTARIA, S.A.
Filing Date: 2025-02-27
Form: F-4/A
Chunk 286
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 model seeks to ensure that risk management and control processes offer an end-to-endvision of the phases involved.

| – | Alignment with the Group’s business strategy, particularly through the implementation of the risk appetite 
 throughout the entire organisation;                                                                        |

Through the set of policies, procedures, manuals and other documents that comprise it, the Group’s Global Risk Framework is aligned with the Group’s business strategy, adding value as it is designed to contribute to the achievement of objectives and improve medium-term performance. It is therefore embedded in key processes such as strategic and financial planning, budgeting, capital and liquidity planning and, in general, business management.

| – | Integration of the risk culture, focusing on aligning remuneration with the risk profile; |

Corporate culture and corporate values are key elements, as they reinforce ethical and responsible behaviour by all members of the organisation. The Group’s risk culture is based on compliance with the regulatory requirements applicable to all of its areas of activity, ensuring compliance with supervisory expectations and best practices in risk management, monitoring and control. One of the priorities established by the Group is the maintenance of a sound risk culture in the aforesaid terms, on the understanding that this lays the groundwork for appropriate risk-taking, makes it easier to identify and manage emerging risks, and encourages employees to carry out their activities and engage in the business in a legal and ethical manner.

| – | A holistic view of risk that translates into the definition of a taxonomy of first- and second-tier risks based on 
 their nature; and                                                                                                  |

The Global Risk Framework, through the set of documents that comprise it, considers 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. A-61

Similarly, risks are managed and controlled with a view to safeguarding the interests
of the Group and its shareholders at all times.

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 action. The Group has a Risk Appetite Framework (RAF)
Policy that sets out the governance framework governing its risk appetite.

Consequently, the RAF establishes the