Company: BBVXF
Filing Date: 2025-08-12
Form Type: DRS
Source: 0000950123-25-007520
Chunk: 842

Company: BANCO BILBAO VIZCAYA ARGENTARIA, S.A.
Filing Date: 2025-08-12
Form: DRS
Chunk 842
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 as well as a clear-cutstructure of responsibilities. Liquidity management Banco Sabadell’s liquidity management seeks to ensure funding for its business activity at an appropriate cost and term while minimising liquidity risk. The Institution’s funding policy focuses on maintaining a balanced funding structure, based mainly on customer deposits, and it is supplemented with access to wholesale markets that allows the Group to maintain a comfortable liquidity position at all times. The Group follows a structure based on Liquidity Management Units (LMUs) to manage its liquidity. Each LMU is responsible for managing its own liquidity and for setting its own metrics to control liquidity risk, working together with the Group’s corporate functions. At present, these LMUs are Banco Sabadell (includes Banco de Sabadell, S.A., which incorporates activity in foreign branches, as well as the business in Mexico of Banco de Sabadell, S.A., I.B.M. (IBM) and Sabcapital S.A. de C.V., SOFOM, E.R. (SOFOM)) and TSB. A-635

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. In order to achieve these objectives, the Group’s current liquidity risk management strategy is based on the following principles and pillars, in line with the LMUs’ retail business model and the defined strategic objectives:

| – | Risk governance and involvement of the Board of Directors and Senior Management in managing and controlling liquidity                                                                                                             
 risk. The Board of Directors has the highest level of responsibility for the oversight of liquidity risk, while the management bodies of the LMUs are in charge of transposing these strategies to their local areas of activity. |

| – | Integration of the risk culture, based on prudent liquidity risk management and clear and consistent definitions of 
 their terminology, and on its alignment with the Group’s business strategy through the established risk appetite.   |

| – | Clear segregation of responsibilities and duties between the different areas and bodies within the organisation, with                                         
 a clear-cut distinction between each of the three lines of defence, providing independence in the evaluation of positions and in risk assessment and control. |

| – | Implementation of best practices in liquidity risk management and control, ensuring not only compliance with                                      
 regulatory requirements but also, under a criterion of prudence, the availability of sufficient liquid assets to overcome possible stress events. |

| – | Decentralised liquidity management