Corporate Social Responsibility Policy

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Corporate SocialResponsibilityPolicy2018

01 BackgroundThis document contains an update of the Corporate Social Responsibility Policy that wasapproved by the Board of Directors of Banco Bilbao Vizcaya Argentaria, S.A. (hereinafter,"BBVA" or the "Bank") in February 2008 and subsequently updated in December 2015, inorder to align it with best practices and recommendations on the matter (the "CorporateSocial Responsibility Policy" or the "CSR Policy").This Policy, which replaces the previous ones, has been approved by the Board of Directors,and it is published on the corporate website.02 Definition, objectives and scope of applicationBBVA understands corporate social responsibility (hereinafter, “CSR”) as the Bank’sresponsibility arising from the impact of its activity on people’s lives and society. To complywith this responsibility, BBVA integrates social, environmental and ethical concerns, as well asthose on human rights and stakeholders, into its daily business and relations with them.Through its CSR Policy, the BBVA Group should contribute to the following objectives:To carry out its main activity in a responsible manner, placing people at the core ofits purpose.To maximise the creation of sustainable and shared value for its shareholders and for theother stakeholders, and the whole of society in which it operates.To prevent and mitigate the possible negative impacts derived from its activity.To manage BBVA’s reputation.This CSR Policy intends to create a framework that helps defining and promoting behavioursallowing for value creation for all stakeholders (clients, employees, shareholders, suppliersand society) within the framework of a culture of social responsibility that turns out in thedevelopment of a “Responsible Banking” in all BBVA Group.Corporate Social Responsibility PolicyThis English version is a translation of the original in Spanish for information purposes only. In case of discrepancy, the Spanish original will prevail.2

03 PrinciplesBBVA has the purpose of bringing the age of opportunity to everyone. To do so, one of theGroup’s objectives is to develop a different way of banking through a business model called“Responsible Banking”, based on the search for profitability adjusted to ethical principles, incompliance with the laws, the best business practices and the long-term value creation for allstakeholders. This represents an overview of the Group’s actions.This CSR Policy is aligned with BBVA’s Code of Conduct, which establishes behaviouralguidelines in accordance with BBVA’s values.The principles that rule the CSR Policy are:Integrity, as a manifestation of ethics in BBVA s actions and relations with allstakeholders.Prudent risk management.Transparency as an aim to offer access to clear and true information.04 Responsible commitments andpractisesIn order to comply with these principles, BBVA has implemented the following specificcommitments:a) ClientsTo place clients at the core of its activity, in order to establish long-lasting relationshipsbased on mutual trust and value contribution.To promote transparent, clear and responsible communication and financial education tofacilitate well informed financial decisions and enhance people’s financial health.To encourage the development of products and services with a high social orenvironmental impact, adapted to the context in which its clients live.To foster financial inclusion and the universalisation of responsible access to financialservices.Corporate Social Responsibility PolicyThis English version is a translation of the original in Spanish for information purposes only. In case of discrepancy, the Spanish original will prevail.3

b) EmployeesTo respect diversity and promote the equality of opportunities, in addition to the nondiscrimination due to gender, age, disability or any other circumstance.To promote work-life balanced practices.To implement practises to guarantee the staff’s safety and ensure all employees’health.To encourage a culture of social commitment and shared values between theemployees, facilitating the conditions so that volunteering activities can be carriedout.c) Shareholders and investorsTo promote transparency, truthfulness, immediacy and homogeneity in disclosinginformation.To facilitate awareness of those issues that may be necessary to enable an appropriateexercise of shareholders’ rights.To publish the information continuously, periodically, punctually and made available ontime.To Guarantee equality of treatment of all shareholders and investors that are in the sameposition.To use of a variety of communication instruments and channels that enableshareholders to access the Bank in the easiest and most convenient wayd) Society and environmentTo support the development of the societies where the Bank is present through financialactivity, as well as to social programmes focused on education, financial literacy,entrepreneurship and knowledge.To define and implement a strategy of climate change and sustainable development forachieving the United Nations Sustainable Development Goals, and aligned with the ParisClimate Agreement.To participate in initiatives and collaborate with regulators and otherorganisations to promote and disseminate responsible practices.To define and apply a Commitment to the Environment in accordance with theprogressive implementation of the recommendations from the Task Force on Climaterelated Financial Disclosures (TCFD), which includes, among others, risk management inthis area, the progressive integration of environmental variables in developing products,collaboration with other actors and promoting eco-efficiency along with managing directimpacts.e) SuppliersTo define and apply a Responsible Procurement Policy that includes, among others,providing complete and transparent information in the supply processes, respectinghuman and labour rights in the supply chain, and stimulating demand in sociallyresponsible products and services.Corporate Social Responsibility PolicyThis English version is a translation of the original in Spanish for information purposes only. In case of discrepancy, the Spanish original will prevail.4

f)Fiscal responsibilityTo carry out its activity by adequately complying with its tax obligations and avoid anypractise that involves illicit tax evasion or losses for the public treasury. To do so, thegroup has a Fiscal Strategy in accordance with the principles of integrity, transparencyand prudence.g) Prevention of illegal behavioursTo encourage compliance with the legal obligations and avoid behaviours that are contraryto the internal standards and policies, or that may damage BBVA’s patrimony, image orreputation.h) Respect for Human RightsTo define and apply BBVA s Commitment to Human Rights, which includes respect forhuman rights in accordance with the International Bill of Human Rights, United NationsGlobal Compact, and the principles of action and recommendations for carrying outbusiness activity published by the United Nations, the Organisation for Economic Cooperation and Development and the International Labour Organisation.To participate in the sector initiatives to apply the United Nations Guiding Principles tofinancial activity, like the informal group of banks, referred to as the “Thun Group”.i)Other subscribed international commitmentsBBVA is committed with the standard international principles regarding CSR, such asthe United Nations Global Compact, the Equator Principles, the Principles forResponsible Investment, the Financial Initiative of the United Nations ProgrammeEnvironmental Programme for Financial Institutions, in addition to other relatedinitiatives that the Responsible Business department takes into consideration.05 Channels of communication,participation and dialogueBBVA has multiple channels and tools of communication, participation and dialogue with allstakeholders. These tools guarantee that the stakeholders have the adequate channels to beattended.These channels are detailed and updated in the annual responsible banking informationpublished on BBVA’s website. In addition, the Bank has instruments and channels forcommunication and contact with shareholders and investors that are available to the public onthe corporate website and that are managed by a specific Investor Relations department.BBVA encourages transparency when disseminating information to stakeholders,adopting at all times responsible communication practices.Corporate Social Responsibility PolicyThis English version is a translation of the original in Spanish for information purposes only. In case of discrepancy, the Spanish original will prevail.5

06 Governance modelThe approval of the Corporate Social Responsibility Policy of BBVA corresponds to the Boardof Directors of the Bank, in accordance with its Regulations.The specific actions and initiatives for the development and implementation of the CorporateSocial Responsibility Policy will be established at the executive level, which will be reported bythe Global Responsible Business area to the Board of Directors and the Board ExecutiveCommittee.Once the responsible business plans to be undertaken are specified at a corporate level, theGlobal Responsible Business area will be responsible for coordinating the execution of saidplans with the areas involved, both at the global level and in the different geographies in whichthe BBVA Group operates, in a consistent manner with the established guidelines. These planswill also be coordinated with the units responsible for the operational risk management, inorder to ensure that they do not contravene and are aligned with the action plans that theseunits are adopting to carry out their function.The Global Responsible Business area will also collaborate within the scope of itscompetences, with the areas of the Bank responsible for the management of non-financialrisks, accordingly to the distribution of functions in the Group.The actions developed within the framework of the Corporate Social Responsibility Policy areconsidered voluntary for the Bank and do not arise from any regulatory obligation or normativeduty.Corporate Social Responsibility PolicyThis English version is a translation of the original in Spanish for information purposes only. In case of discrepancy, the Spanish original will prevail.6

Corporate Social Responsibility Policy" or the "CSR Policy "). This Policy, which replaces the previous ones, has been approved by the Board of Directors, and it is published on the corporate website. 02 Definition, objectives and scope of application. BBVA understands corporate social responsibility (hereinafter, “ CSR ”) as the Bank’s

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