Company: BBVXF
Filing Date: 2025-09-09
Form Type: 424B3
Source: 0001193125-25-198517
Chunk: 569

Company: BANCO BILBAO VIZCAYA ARGENTARIA, S.A.
Filing Date: 2025-09-09
Form: 424B3
Chunk 569
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 |     | Identify, quantify, control and mitigate risks, complying with the established internal policies and procedures and 
 ensuring that activities are consistent with the established goals and objectives;                                  |

| • |     | Implement suitable processes to manage and mitigate material risks. |

| • |     | Participate in decision-making processes, identifying, assessing, controlling and mitigating the risks inherent in the 
 implementation of significant changes and one-off transactions.                                                        |

| • |     | Define the strategy for each risk. |

| – | Second line of defence: broadly speaking, the second line of defence ensures that the first line of defence is well                                                    
 designed and performs its assigned duties. It also puts forward suggestions for its continuous improvement. The core duties attributed to this line are the following: |

| • |     | Propose the Global Risk Framework, for risk management and control. |

| • |     | Participate in the decision-making process where it concerns the implementation of significant changes and one-off transactions. |

| • |     | Monitor the risk strategy approved by the Board of Directors through its approval of the RAS. |

| • |     | Keep the risk inventory up to date, justifying those not considered to be material, and review the inventory of 
 material risks.                                                                                                 |

| • |     | Establish and maintain an equivalence between subsidiaries’ local taxonomies and the Group taxonomy. |

| • |     | Conduct a risk assessment of the Group’s risk profile on an annual basis. |

| • |     | Supervise the risk management and control activities carried out by the first line of defence to ensure they conform to                                     
 the established policies and procedures, bearing in mind the tasks specifically assigned to it, and identify potential improvements within risk management. |

| • |     | The Validation Division gives opinions regarding the suitability of new proposals, changes or adjustments to models,                                                                    
 tools and processes with material methodological components. It also designs and rolls out the model risk management and control framework and monitors the Group’s model risk profile. |

| • |     | The Compliance Division identifies and periodically assesses compliance risks in the different areas of activity. |

| – | Third line of defence: helps the Group to achieve its objectives, carrying out verification activities and providing                                         
 independent and objective advice. Provides regular oversight of governance processes and of the established risk management and internal control activities. |

A-388

4.4 Management and monitoring of the main material risks The most salient aspects concerning the management of the first-tier risks