Company: BBVXF
Filing Date: 2025-02-27
Form Type: F-4/A
Source: 0001193125-25-037317
Chunk: 277

Company: BANCO BILBAO VIZCAYA ARGENTARIA, S.A.
Filing Date: 2025-02-27
Form: F-4/A
Chunk 277
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 the effect of mandatory convertible |     |      |          0.32 |   |     |      |          0.23 |   |
| bonds (euros)                                                                       |     |      |               |   |     |      |               |   |
| Diluted earnings (or loss) per share                                                
 (euros)                                                                             |     |      |          0.32 |   |     |      |          0.23 |   |

(*) Average number of shares outstanding, excluding the average number of own shares held in treasury stock during the year. As at 31 December 2024 and 2023, there were no other financial instruments or share-based commitments with employees with a significant impact on the calculation of diluted earnings (or loss) per share for the periods presented. For this reason, basic earnings (or loss) per share coincide with diluted earnings (or loss) per share. The distributions of profits of subsidiaries are subject to approval by shareholders at their respective Annual General Meetings. Note 4 – Risk management Throughout 2024, Banco Sabadell Group has continued to strengthen its risk management and control framework by incorporating improvements in accordance with supervisory expectations and market trends. Bearing in mind that Banco Sabadell Group takes risks during the course of its activity, good management of these risks is a central part of the business. The Group has established a set of principles, set out in A-55

policies and rolled out through procedures, strategies and processes, which aim to increase the probability of achieving the strategic objectives of the Group’s various activities, facilitating management in an uncertain environment. This set of principles is called the Global Risk Framework. 4.1. Macroeconomic, political and regulatory environment Macroeconomic environment When managing risks, the Group considers the macroeconomic environment. The most salient aspects of 2024 are set out below:

| – | The year 2024 was marked by the US economy maintaining its momentum, showing greater-than-expected resilience, and 
 the Eurozone being particularly weighed down by Germany’s weakness.                                                |

| – | Spain continued to outperform other Eurozone countries. Growth was underpinned by factors such as flows of                                                                                       
 immigration, the recovery of real incomes, the good financial situation of households and businesses, interest rate cuts and the ongoing rollout of Next Generation European Union (NGEU) funds. |

| – | The emerging economies, in general, continued to show resilience, despite the high interest rate environment at a                                   
 global level