Company: BBVXF
Filing Date: 2025-08-12
Form Type: DRS
Source: 0000950123-25-007520
Chunk: 236

Company: BANCO BILBAO VIZCAYA ARGENTARIA, S.A.
Filing Date: 2025-08-12
Form: DRS
Chunk 236
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 and all information herein remains strictly confidential. boards of directors to formulate a joint merger plan, which would need to be approved by BBVA’s and Banco Sabadell’s respective shareholders. Pursuant to the provisions of the Regulation, Supervision and Solvency of Credit Institutions Law, such merger will require the prior authorization of the Spanish Minister of Economy, Trade and Business. Such authorization with respect to the merger from the Spanish Minister of Economy, Trade and Business is separate and distinct from the Council of Ministers’ Authorization. If BBVA waives the Minimum Acceptance Condition and, as a result, does not obtain control of Banco Sabadell following completion of the exchange offer, it may not be able to carry out the strategic plans described in this section “—Plans for Banco Sabadell after the Exchange Offer” or, where applicable, realize the corresponding synergies expected to be realized upon taking control of Banco Sabadell. See “The Exchange Offer—Conditions to Completion of the Exchange Offer—Potential Waiver by BBVA of the Minimum Acceptance Condition—Acquisition of control of Banco Sabadell” and “Risk Factors—Risks Relating to the Exchange Offer—If BBVA waives the Minimum Acceptance Condition and the exchange offer is completed, BBVA may not have control of Banco Sabadell immediately following completion of the exchange offer”. Strategic Plans and Intentions Regarding Future Activities and Location of the Banco Sabadell Group Following completion of the exchange offer, Banco Sabadell will continue to operate in the same manner as before completion of the exchange offer, at least during the No-merger Period (the length of which could be shortened if the Autonomy Condition is declared void as a result of the Administrative Appeal). This will result in, among other measures:

| • |     | Maintaining Banco Sabadell’s corporate address in the municipality of Sabadell. |

| • |     | Maintaining Banco Sabadell’s operating centers. |

| • |     | Using the Banco Sabadell brand. |

| • |     | Developing Banco Sabadell’s business lines. |

| • |     | Continuing to support newly-created companies with a large innovative component, commonly known as “start-ups”. BBVA and Banco Sabadell have business units specialized in helping such companies scale their businesses through financial services and debt (BBVA Spark and BStartup, respectively), providing 
 comprehensive financial support in all phases of their growth. BBVA intends to reinforce Barcelona’s role as a European “hub” for