Company: BBVXF
Filing Date: 2025-02-27
Form Type: F-4/A
Source: 0001193125-25-037317
Chunk: 528

Company: BANCO BILBAO VIZCAYA ARGENTARIA, S.A.
Filing Date: 2025-02-27
Form: F-4/A
Chunk 528
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A-339

| – | Technological transformation: risk associated with inappropriate adoption or inefficient use of technology within the 
 organisation for the development of new value propositions.                                                           |

| – | IT skills: risk arising from the insufficiency of adequate IT profiles (internal and/or external partners) to ensure 
 effective and efficient coverage of technological activities, processes and services.                                |

4.4.4.2 Tax risk With regard to tax risk, Banco Sabadell Group’s tax risk policies aim to establish the general guidelines for managing and controlling tax risk, specifying the applicable principles and critical parameters and covering all significant elements to systematically identify, assess and manage any risks that may affect the Group’s tax strategy and fiscal objectives, meeting the requirements of the Spanish Capital Companies Act and of Banco Sabadell Group stakeholders. In terms of tax risk, Banco Sabadell Group aims to fulfil its tax obligations at all times, adhering to the existing legal framework in this regard. Banco Sabadell Group’s tax strategy, approved by the Board of Directors, reflects its commitment to fostering responsible taxation, promoting preventive measures and developing key transparency schemes in order to gain the confidence and trust of its various stakeholders. The tax strategy is governed by the principles of efficiency, prudence, 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. 4.4.4.3 Compliance risk As regards compliance risk, one of