Company: BBVXF
Filing Date: 2025-07-31
Form Type: F-3ASR
Source: 0001193125-25-170429
Chunk: 155

Company: BANCO BILBAO VIZCAYA ARGENTARIA, S.A.
Filing Date: 2025-07-31
Form: F-3ASR
Chunk 155
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 and authority to take any action and/or to execute and deliver any document in the name and/or on behalf of such holder or beneficial
owner, as the case may be, which is necessary or convenient to complete the substitution or modification of the terms of the contingent convertible preferred securities of such series, as applicable, pursuant to the provisions described in this
section “—Substitution and Modification”.

Each holder and beneficial owner of the contingent convertible preferred
securities of any series, by virtue of its acquisition of the contingent convertible preferred securities of any series or any beneficial interest therein, to the extent permitted by the Trust Indenture Act, waives any and all claims, in law and/or
in equity, against the trustee and/or BBVA for, agrees not to initiate a suit against the trustee or BBVA in respect of, and agrees that neither the trustee nor BBVA shall be liable for, any action that the trustee or BBVA takes, or abstains from
taking, in either case in connection with the substitution or modification of the terms of the contingent convertible preferred securities upon the occurrence of a Capital Event or a Tax Event.

“Qualifying Preferred Securities”, with respect to a series of contingent convertible preferred securities which is subject to any
substitution or modification pursuant to their terms, at any time, any securities issued by BBVA (including any contingent convertible preferred securities so modified as to remain Qualifying Preferred Securities) that:

(a) contain terms which comply with the then-current requirements to be included in, or count towards, the BBVA Group’s and BBVA’s
Tier 1 Capital;

(b) have the same or higher ranking as is applicable to such series of contingent convertible preferred securities on the
issue date of such series of contingent convertible preferred securities pursuant to the contingent convertible preferred securities indenture;

(c) have the same denomination and aggregate outstanding Liquidation Preference, the same terms for the determination of any applicable
Distributions, the same redemption rights and the same dates for payment of Distributions as such series of contingent convertible preferred securities immediately prior to any substitution or modification pursuant to the provisions described in
this section “—Substitution and Modification”;

(d) preserve any existing rights under such series of contingent
convertible preferred securities to any accrued Distribution which has not been paid in respect of the period from and including the Distribution Payment Date last preceding the date of any substitution or modification pursuant to the provisions
described in this section “—Substitution and Modification” (where not cancelled or deemed cancelled pursuant to, or otherwise