Balance Sheet at 31 December 2010 of BBVA

Further to section D.2, detailed information on the BBVA Group’s exposure to risk is included in the BBVA
Management Report, including the most relevant figures.
Further to section E.9: the holders of a smaller number of shares than the number established in the
Company Bylaws to entitle the holder to attend, if they do wish to attend, they should apply to Shareholder
Office the web site or any BBVA branch office for an invitation, which will be provided within the
considerations of the limited space available in the premises in which the Meetings can be held and the
large number of Company shareholders.
Concerning Recommendation number 42 of Section F: The BBVA Board Regulations, article 2, establish
that the Board of Directors will present their proposals for appointments or the re-election of directors to
the Company General Meeting, making every effort to ensure that the external directors represent an
ample majority over the executive directors on the Board and that the number of independent directors
represent at least one third of the total number of directors. The Regulations also establish, in article 26,
that the Board may appoint an Executive Committee, making every effort to ensure that the external
directors have a majority over the executive directors and that the number of independent directors
represents at least one third of the total number of its members. The composition of the BBVA Board of
Directors and the Executive Committee reflect the stipulations of the Regulations as they are made up of
an ample majority of independent directors, with only two executive directors forming part of both corporate
bodies.
With regard to Recommendation number 45 of Section F: Pursuant to article 30 of the Board Regulations,
it is the responsibility of the Audit Committee to supervise the In-House Code of Conduct on the Stock
Exchange. On the other hand, article 27 of the Board Regulations attributes the responsibility for
evaluating the Bank’s System of Corporate Governance to the Executive Committee. This will be analysed
in accordance with the performance of the Company, the results gained in the implementation of any
regulations that may be established and any recommendations that are made concerning market best
practices adapted to the corporate context.
In general, for the purposes of this report, it should be pointed out that certain modifications are set to be
made to the BBVA in-house regulations after the close of 2010, as a consequence of the recent legislative
modifications made in company law, which, once approved by the corresponding corporate bodies, will be
published on the Company web site.
In this section, you may include any other information, clarification or comment relating to the prior
sections of this report.
Specifically, indicate whether the company is subject to laws other than Spanish laws regarding corporate
governance and, if applicable, include such information as the company is required to provide that is
different from the information required in this report.
Binding definition of independent director:
Indicate whether any of the independent directors has or has had any relationship with the Company, its
significant shareholders or its managers which, had it been sufficiently significant or important, would have
resulted in the director not qualifying for consideration as independent pursuant to the definition set forth in
sub-section 5 of the Unified Good Governance Code:
NO
Date and signature: 01/02/2011
This annual corporate governance report was approved by the Board of Directors of the Company at its
meeting of
Indicate whether any Directors voted against or abstained in connection with the approval of this Report.
NO
WARNING: The English version is only a translation of the original in Spanish for information purposes. In case of a discrepancy,
the Spanish original prevails.