Company: BBVXF
Filing Date: 2025-09-09
Form Type: 424B3
Source: 0001193125-25-198517
Chunk: 739

Company: BANCO BILBAO VIZCAYA ARGENTARIA, S.A.
Filing Date: 2025-09-09
Form: 424B3
Chunk 739
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 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 risk governance arrangements are designed to organise risk management and control activities by means of the model of three lines of defence, granting independence, hierarchical authority and sufficient resources to the Risk Control function. In the same way, the governance 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 organisations;                                                                              |

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 a key element, as they strengthen the ethical and responsible behaviour of all members of the organisation. The Group’s risk culture is based on compliance with the regulatory requirements applicable to it in all of its areas of activity, ensuring compliance with supervisory expectations and best practices in relation to risk management, monitoring and control. One of the priorities established by the Group is the maintenance of a solid 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-611

| – | A holistic view of risk that translates