Company: BBVXF
Filing Date: 2025-08-12
Form Type: DRS
Source: 0000950123-25-007520
Chunk: 813

Company: BANCO BILBAO VIZCAYA ARGENTARIA, S.A.
Filing Date: 2025-08-12
Form: DRS
Chunk 813
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 regard, and for ensuring consistency with the Group’s short- and long-term strategic objectives, as well as with the
business plan, capital and liquidity planning, risk-taking capacity and remuneration schemes and policies.

The Board of Directors of Banco de
Sabadell, S.A. is also responsible for approving the Group’s Global Risk Framework.

In addition, within the Board of Directors of Banco de
Sabadell, S.A., there are five committees involved in the Group’s Global Risk Framework and, therefore, in risk management and control (the Board Risk Committee, the Board Strategy and Sustainability Committee, the Delegated Credit Committee,
the Board Audit and Control Committee and the Board Remuneration Committee). There are also other Committees and Divisions with a significant level of involvement in the risk function.

A-613

As confidentially submitted to the Securities and Exchange Commission on August 11, 2025. This Amendment No. 4 has not been publicly filed with the Securities and Exchange Commission and all information herein remains strictly confidential. The governance structure that has been defined aims to ensure a suitable development and implementation of the Global Risk Framework and, consequently, of the risk management and control activity within the Group, while at the same time it aims to facilitate:

| – | The participation and involvement of the Group’s governing bodies and Senior Management in decisions regarding 
 risks, and also in their supervision and control.                                                              |

| – | The alignment of targets and objectives at all levels, monitoring their achievement and implementing corrective 
 measures where necessary.                                                                                       |

| – | The existence of an adequate management and control environment for all risks. |

Organisation The Group establishes an organisational model for assigning and coordinating risk control responsibilities based on the three lines of defence. This model is described, for each of the risks, in the various policies that make up the Group’s body of regulations, in which responsibilities specific to each of the three lines of defence are established. For each line of defence, the risk policies describe and assign responsibilities, as appropriate, to the following functions (or any other additional ones that ought to be considered):

| – | First line of defence: responsible for maintaining adequate and effective internal control and implementing                                                            
 corrective actions to rectify deficiencies in its processes and controls. The responsibilities attributed to this line under the Global Risk Framework are as follows: |

| • |     | Maintain effective internal controls and perform   
 day-to-day risk assessment and control procedures; |

| • |     | Identify, quantify, control and mitigate risks