Company: BBVXF
Filing Date: 2025-08-12
Form Type: DRS
Source: 0000950123-25-007520
Chunk: 809

Company: BANCO BILBAO VIZCAYA ARGENTARIA, S.A.
Filing Date: 2025-08-12
Form: DRS
Chunk 809
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 the following elements:

| – | The Group’s Global Risk Framework Policy. |

| – | The Risk Appetite Framework (RAF) of the Group and subsidiaries. |

| – | The Risk Appetite Statement (RAS) of the Group and subsidiaries. |

| – | Specific policies for the various material risks to which the Group and subsidiaries are exposed. |

A-610

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. 4.3.1 Global Risk Framework Policy As an integral part of the Global Risk Framework, the Global Risk Framework Policy establishes the common basic principles for Banco Sabadell Group’s risk management and control activities, including, among other things, all actions associated with the identification, decision-making, measurement, assessment, monitoring and control of the different risks to which the Group is exposed. These activities comprise the duties carried out by the various areas and business units of the Group as a whole. Consequently, the Global Risk Framework Policy sets out a general framework for the establishment of other policies related to risk management and control, determining core/common aspects that are applicable to the various risk management and control policies. The Global Risk Framework is applied in all of the Group’s business lines and entities, taking into account proportionality criteria in relation to their size, the complexity of their activities and the materiality of the risks taken. Global Risk Framework principles For risk management and control to be effective, the Group’s Global Risk Framework must comply with the following principles:

| – | Risk governance and involvement of the Board of Directors through the model of three lines of defence, among 
 others;                                                                                                      |

The risk governance arrangements established in the various policies that form part of the Global Risk Framework promote a sound organisation of risk management and control activities, categorising risk, defining limits and establishing clear responsibilities at all levels of the organisation through policies, procedures and manuals specific to each risk. Among other duties, the Board of Directors of Banco de Sabadell, S.A. is responsible for identifying the Group’s main risks, implementing and monitoring appropriate internal control and reporting systems, which include challenging and monitoring the Group’s strategic planning and supervising the management of material risks and their alignment with the risk profile defined by the Group. Similarly, the equivalent bodies of the Group’s various subsidiaries have the same level of involvement in risk management and control activities at the local level. The Group’s