Company: BBVXF
Filing Date: 2025-08-12
Form Type: DRS
Source: 0000950123-25-007520
Chunk: 707

Company: BANCO BILBAO VIZCAYA ARGENTARIA, S.A.
Filing Date: 2025-08-12
Form: DRS
Chunk 707
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 complementary incentive scheme Pursuant to the Remuneration Policy, the latest version of which was approved by the Board of Directors at its meeting of 21 December 2023, at the proposal of the Board Remuneration Committee, members of the Group’s Identified Staff, with the exception of Non-ExecutiveDirectors, were allocated long-term remuneration through the schemes in effect during 2023, as described below: Share-based complementary incentive scheme TSB’s Share Incentive Plan (SIP) provides its employees with the opportunity to own shares in Banco Sabadell and grants shares, where applicable, to certain senior employees as part of their hiring arrangements. Long-term remuneration scheme Every year, the Board of Directors, at the proposal of the Board Remuneration Committee, approves Long-Term Remuneration aimed at members of the Group’s Identified Staff with allocated variable remuneration, with the exception of management staff assigned to TSB Banking Group Plc or its subsidiaries, which consists of allocating a certain amount to each beneficiary, determined based on a monetary amount corresponding to a percentage of each beneficiary’s fixed remuneration. 55% of the incentive is paid in the Bank’s shares (using the weighted average price of the last 20 trading sessions of the month of December of the first year of the accrual period to calculate the number of shares), with the remaining 45% paid in cash. The incentive accrual period consists of three financial years, beginning on 1 January of the financial year immediately following the date of its approval and ending two years later, on 31 December of the third financial year. The aforesaid accrual period in turn comprises two sub-periods:

| – | Individual annual targets measurement period: this period lasts one financial year, from 1 January to                                                                                                                                           
 31 December of the year following the date on which the incentive is approved. During that period, each beneficiary’s annual targets are measured (formed of Group targets, management targets and individual targets) established to determine 
 the “Adjusted Target”.                                                                                                                                                                                                                          |

A-500

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.

| – | Group multi-year targets measurement period: this period lasts three financial years, beginning on 1 January of                                                                                                                                    
 the financial year immediately following the date on which the incentive is approved and ending two years