Company: BBVXF
Filing Date: 2025-09-05
Form Type: F-4/A
Source: 0001193125-25-196513
Chunk: 20

Company: BANCO BILBAO VIZCAYA ARGENTARIA, S.A.
Filing Date: 2025-09-05
Form: F-4/A
Chunk 20
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 withdrawal subject to a condition will be null and void.                                                                                                                                                                               |

| Q. | When is the exchange offer expected to be completed? |

| A. | Completion of the exchange offer will take place on the settlement date, provided that each of the conditions                                                                                                        
 set forth in “The Exchange Offer—Conditions to Completion of the Exchange Offer” has been satisfied or waived as of the end of the acceptance period. See “The Exchange Offer—Extension, Termination and Amendment”. |

| Q. | Has the exchange offer been subject to the ECB non-opposition? |

| A. | Pursuant to the provisions of Law 10/2014, of June 26, on the regulation, supervision and solvency of                                                                                                                                              
 credit institutions (Ley 10/2014, de 26 de junio, de ordenación, supervisión y solvencia de entidades de crédito, the “Regulation, Supervision and Solvency of Credit Institutions Law”), and Royal Decree                                         
 84/2015, of February 13, implementing the Regulation, Supervision and Solvency of Credit Institutions Law, the acquisition by BBVA of control of Banco Sabadell resulting from the exchange offer was subject to the duty of prior notification to 
 the Bank of Spain and to the obtainment of the non-opposition by the ECB. The ECB’s non-opposition was obtained on September 5, 2024.                                                                                                              |

| Q. | What are the conditions to the exchange offer? |

| A. | In accordance with the provisions of articles 13 and 26 of the Spanish Takeover Regulation, completion of the 
 exchange offer is subject to the fulfillment of the following conditions:                                     |

| i. | In accordance with the provisions of article 13.2.b) of the Spanish Takeover Regulation, the acceptance of the                                                                                                                                          
 exchange offer by a number of shares of Banco Sabadell that permits BBVA to acquire at least more than half of the voting rights of the Banco Sabadell shares at the end of the acceptance period (excluding any treasury shares held by Banco Sabadell 
 as of that time) (such condition, the “Minimum Acceptance Condition”).                                                                                                                                                                                  |

| iii. | In accordance with the provisions of article 26.1 of the Spanish Takeover Regulation, the express or tacit 
 authorization of the economic concentration resulting from completion of the exchange                      |

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For the exchange offer to be completed, each of these conditions must be