Company: BBVXF
Filing Date: 2025-02-27
Form Type: F-4/A
Source: 0001193125-25-037317
Chunk: 145

Company: BANCO BILBAO VIZCAYA ARGENTARIA, S.A.
Filing Date: 2025-02-27
Form: F-4/A
Chunk 145
---
 the tendering holders of Banco Sabadell shares had their Banco Sabadell shares deposited. Until the newly-issued BBVA shares are registered under the ownership of the holders of Banco Sabadell shares who validly tendered, and did not withdraw,
their Banco Sabadell shares into the exchange offer, BBVA will provide each such holder, upon request in writing to BBVA, as agent bank, a certificate certifying the subscription by such holder of the corresponding number of newly-issued BBVA
shares.

The effective change of ownership on the registries of Iberclear of all Banco Sabadell shares validly tendered into, and not
withdrawn from, the exchange offer in favor of BBVA will occur simultaneously with the registration in the registries of Iberclear and its participating entities of the newly-issued BBVA shares in the name of the holders of Banco Sabadell shares who
validly tendered, and did not withdraw, their Banco Sabadell shares into the exchange offer.

The settlement of the exchange offer
will take place upon registration of the ownership of the newly-issued BBVA shares for the benefit of the holders of Banco Sabadell shares who validly tendered, and did not withdraw, their Banco Sabadell shares into the exchange offer, in the
accounting records of Iberclear and its participating entities. BBVA will notify the CNMV, by means of a communication of other relevant information, of the settlement of the exchange offer.

Delivery of Cash in Lieu of Fractional BBVA Shares

Holders of Banco Sabadell shares will receive the greatest whole number of BBVA shares which can be issued at the exchange ratio. BBVA has
established a mechanism by which tendering holders of Banco Sabadell shares that tender a number of Banco Sabadell shares that does not entitle them to receive, at least, one newly-issued BBVA share, or that
entitles them to receive a whole number of newly-issued BBVA shares but have an excess number of Banco Sabadell shares that would entitle them to receive a fraction of a BBVA share, will receive an amount in cash equal to the weighted average price
per BBVA share during the 15 trading sessions prior to the expiration date (including the expiration date) multiplied by the fraction of a BBVA share (rounded to the nearest hundredth with five one thousandths of a BBVA share being rounded upwards
(e.g., 0.205 would be rounded