Company: BBVXF
Filing Date: 2025-09-05
Form Type: 6-K
Source: 0001193125-25-196713
Chunk: 10

Company: BANCO BILBAO VIZCAYA ARGENTARIA, S.A.
Filing Date: 2025-09-05
Form: 6-K
Chunk 10
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urbed Price as deﬁned in slides 10 and 14.

HIGHLY ATTRACTIVE OFFER 4 Premium Materially above Recent Tender Oﬀers in Banking Premium Offered at Announcement Premium Offered at Announcement 1 (over Undisturbed Price , %) (over VWAP 1 month, %) %3 42.0 % 30.0 % 2 % 2 19.6 17.8 % 2 14.8 % 2 % 13.3 % 2 % 2 % 11.4 11.4 11.1 % 9.3 6.3 % 0.5 4 BBVA offer was announced at a signiﬁcant premium compared to other unsolicited takeovers in Europe (c. 30 p.p. above average premium over VWAP 1 month) (1) For BBVA, at Undisturbed Price as deﬁned in slides 10 and 14. (2) Including price increases during the acceptance period. (3) VWAP calculated as of Apr 29, 2024 (day before disclosure of merger discussions). p. 16 p. 16 (4) Includes public tender offers in the ﬁnancial sector over the last two years in Southern Europe: UCG-BAMI, IF-ILTY, BMPS-MB, BPE-BPSO and MB-BGN. Excluding BBVA’s offer for Banco Sabadell.

HIGHLY ATTRACTIVE OFFER 4 Sabadell Share Price Trading at Maximum Levels of More than a Decade Banco Sabadell Market Price Evolution (€ per share) 3 2 1 0 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 Sep’25 p. 17 p. 17 Source: Bloomberg, observed prices from Jan 2, 2015 to Sep 4, 2025.

HIGHLY ATTRACTIVE OFFER 4 High Correlation of Share Prices since the Deal Was Announced Correlation of BBVA and Banco Sabadell Share Prices Day before disclosure of the 1 merger discussions 0.89±0.07 21- session Average + Std. Dev. 0.61±0.14 0.5 21- session 0 May’23 29/04/24 Sep’25 p. 18