Company: BBVXF
Filing Date: 2025-08-12
Form Type: DRS
Source: 0000950123-25-007520
Chunk: 866

Company: BANCO BILBAO VIZCAYA ARGENTARIA, S.A.
Filing Date: 2025-08-12
Form: DRS
Chunk 866
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, transparency and mitigation of tax risk, and it is aligned with the business strategy of Banco Sabadell Group. The Board of Directors of Banco Sabadell, under the mandate set out in the Spanish Capital Companies Act for the improvement of corporate governance, is responsible, and cannot delegate such responsibility, for the following:

| – | Setting the Institution’s tax strategy. |

| – | Approving investments and operations of all types which are considered to be strategic or to carry considerable tax                       
 risk due to their high monetary value or particular characteristics, except when such approval corresponds to the Annual General Meeting. |

| – | Approving the creation and acquisition of shareholdings in special purpose entities or entities registered in 
 countries or territories classified as tax havens.                                                            |

| – | Approving any transaction which, due to its complexity, might undermine the transparency of the Institution and its 
 Group.                                                                                                              |

Consequently, the duties of the Board of Directors of Banco Sabadell include the obligation to approve the corporate tax policy and ensure compliance therewith by implementing an appropriate control and oversight system, which is enshrined in the general risk management and control framework of the Group. A-656

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. 4.4.4.3 Compliance risk As regards compliance risk, one of the core aspects of the Group’s policy, and the foundation of its organisational culture, is strict compliance with all legal provisions, meaning that the achievement of business objectives must be compatible, at all times, with adherence to the law and the established legal system. To this end, the Group has a Compliance Division whose mission is to seek the highest levels of compliance with existing legislation and ensure that professional ethics are present in all areas of the Group’s activity. This Division assesses and manages compliance risk, understood as the risk of incurring legal or administrative penalties, significant financial losses or reputational damage as a result of an infringement of laws, regulations, internal rules or codes of conduct applicable to banking activity, minimising the possibility of any breaches of the foregoing, and ensuring that any breaches that do occur are identified, reported and diligently resolved. It does this by performing the following tasks:

| – | Monitoring and overseeing the adaptation to new regulations through proactive management to ensure regular and 
 systematic monitoring of legal updates.                                                                        |

| – | Identifying