Company: BBVXF
Filing Date: 2025-09-05
Form Type: F-4/A
Source: 0001193125-25-196513
Chunk: 627

Company: BANCO BILBAO VIZCAYA ARGENTARIA, S.A.
Filing Date: 2025-09-05
Form: F-4/A
Chunk 627
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 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 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 that end, the Group has a Compliance Division, whose mission is to promote and strive to attain the highest levels of Group compliance and ethics, mitigating compliance risk, understood as the risk of legal or administrative sanctions, significant financial losses or loss of reputation due to a breach of laws, regulations, internal regulations and codes of conduct applicable to the Group’s activity; minimising the possible occurrence of any regulatory breach and ensuring that any breaches that may occur are diligently identified, reported and resolved. This division assesses and manages compliance risk through the following duties:

| – | Monitoring and overseeing the adaptation to new regulations through proactive management to ensure regular and                                                                                                                            
 systematic monitoring of legal updates, and ensuring the distribution of those which are deemed to have an impact on any area of the Institution’s business, according to the scope established in the corresponding internal procedures. |

A-429

| – | Identifying and periodically assessing compliance risks in the different areas of activity and contributing to their                                                        
 management in an efficient manner. To this end, establishing, applying and maintaining appropriate procedures to prevent, detect, correct and minimise any compliance risk. |

| – | Establishing,