Company: BBVXF
Filing Date: 2025-09-05
Form Type: F-4/A
Source: 0001193125-25-196513
Chunk: 94

Company: BANCO BILBAO VIZCAYA ARGENTARIA, S.A.
Filing Date: 2025-09-05
Form: F-4/A
Chunk 94
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 • |     | On the other hand, the costs associated with the exchange offer or the cash payment corresponding to the 
 settlement of any fractional shares have not been considered, since they are not considered material.    |

| • |     | The pro forma financial information does not reflect any cost savings, financing synergies or restructuring costs                                                                                                                                        
 arising or resulting from the exchange offer that are expected to be realized in the future. Similarly, it does not reflect the possible impact of other adverse effects that could result from the exchange offer, including extraordinary taxes (for   
 example, levies against the banking sector), the termination of contracts or the loss of customers due to redundancies or weakening of brand loyalty. Costs expected to be incurred in connection with the acquisition of control of Banco Sabadell will 
 be accounted for when incurred.                                                                                                                                                                                                                          |

| • |     | No transactions or balances have been identified between BBVA and Banco Sabadell that could have a significant      
 impact on the pro forma financial information, therefore no elimination or adjustment of such nature has been made. |

| • |     | The exchange offer has been treated as an acquisition, with BBVA as the accounting acquirer and Banco Sabadell as                                                                                                                              
 the accounting acquiree. Therefore, the adjustments include the elimination of Banco Sabadell’s equity and the impact of the estimated value of the consideration that would be paid if the exchange offer were completed (i.e., the estimated 
 value of the capital increase).                                                                                                                                                                                                                |

| • |     | The exchange offer will generate certain legal, accounting and valuation costs and other professional fees, as 
 well as other costs for the registration and issuance of shares, which will be recorded in                     |

61

| accordance with IFRS 3 “Business Combinations”, IFRS 9 “Financial Instruments” and IAS 32 “Financial Instruments: Presentation”. As of the date of the                                                                                                  
 preparation of the pro forma financial information, the majority of these costs had not been incurred, and, given that these costs are not estimated to be significant, such costs have not been taken into account in the preparation of the pro forma 
 financial information.                                                                                                                                                                                                                                  |

| • |     | The pro forma financial information does not reflect any adjustments that could arise as a result of the 
 consummation of the TSB Sale or the payment of the TSB Sale Dividend. See “The Exchange Offer—TSB Sale”. |

The unaudited pro forma adjustments included in the pro forma financial information