Company: BBVXF
Filing Date: 2025-01-08
Form Type: 424B5
Source: 0001193125-25-003393
Chunk: 144

Company: BANCO BILBAO VIZCAYA ARGENTARIA, S.A.
Filing Date: 2025-01-08
Form: 424B5
Chunk 144
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 received by the Paying and Conversion Agent as provided in
the Indenture and the Conversion Notice (as defined in the accompanying prospectus) on or before the Notice Cut-off Date, then within ten Business Days following the Conversion Settlement Date, all Common
Shares held by the Conversion Shares Depository in respect of which the applicable Preferred Securities and a duly completed Delivery Notice have not been received on or before the Notice Cut-off Date as
aforesaid will be sold by or on behalf of a person (which may be BBVA or another member of the BBVA Group or a third party) appointed by BBVA in its sole and absolute discretion (the “Selling Agent”) as soon as reasonably
practicable.

Subject to the deduction by or on behalf of the Selling Agent of any amount payable in respect of its liability to taxation
and the payment of any capital, stamp, issue, registration and/or transfer taxes and duties (if any) and any fees or costs incurred by or on behalf of the Selling Agent in connection with the issue, allotment and sale of any Common Shares pursuant
to the preceding paragraph, and the conversion of any proceeds of such sale into U.S. dollars, the net proceeds of such sale, converted into U.S. dollars at the Prevailing Rate on the Notice Cut-off Date, if
necessary, shall as soon as reasonably practicable be distributed pro rata to the relevant holders in

S-90

such manner and at such time as BBVA shall determine and notify to the relevant holders. Such payment shall for all purposes discharge the obligations of BBVA, the Conversion Shares Depository,
the Paying and Conversion Agent and the Selling Agent to such holders in respect of the relevant Conversion. The Selling Agent will be deemed to be acting on behalf of holders whose Preferred Securities and a duly completed Delivery Notice were not
received on or before the Notice Cut-off Date for the purposes set out above and to that effect holders and beneficial owners of the Preferred Securities by virtue of their acquisition of the Preferred
Securities will be deemed to be accepting and giving express instructions to the Selling Agent to do so in accordance with these conditions.BBVA, the Conversion Shares Depository, the Paying and Conversion Agent and the Selling Agent
shall have no liability in respect of the exercise or non-exercise of any discretion or power pursuant to this section “—Failure to Deliver a Delivery Notice” or in respect of any sale of
any Common Shares, whether for the timing of any such sale or the price at