Company: BBVXF
Filing Date: 2025-08-12
Form Type: DRS
Source: 0000950123-25-007520
Chunk: 15

Company: BANCO BILBAO VIZCAYA ARGENTARIA, S.A.
Filing Date: 2025-08-12
Form: DRS
Chunk 15
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 cash for each 5.5483 Banco Sabadell shares tendered (adjusted, as the case may be, as described in this offer to exchange/prospectus). The treatment of fractional shares is 
 described in the following question.                                                                                                                                                                                                                 |

| Q. | Will I receive fractional BBVA shares or a fraction of the exchange offer cash consideration? |

| A. | No fractional BBVA shares will be issued in connection with the exchange offer. Instead of any such fractional                                                                                                                                           
 BBVA shares that a tendering holder of Banco Sabadell shares would otherwise be entitled to receive, BBVA will pay to the relevant tendering holder 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 to 0.21)) that a 
 tendering holder of Banco Sabadell shares would otherwise be entitled to receive in accordance with the exchange ratio of 5.5483 (adjusted, as the case may be, as described in this offer to exchange/prospectus). Such amount in cash will be rounded  
 to the nearest euro cent and, in the event of a half of a euro cent, to the immediately higher euro cent. Under no circumstances will interest be paid on the cash to be received in lieu of any fractional shares.                                      |

With respect to the exchange offer cash consideration, 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 the above cash payment in lieu of a fractional BBVA share, will receive an amount in cash equal to €0.70 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 to 0.21)) that they would otherwise be entitled to receive in accordance with the exchange ratio of 5.5483 (adjusted, as the case may be, as described in this offer to exchange/prospectus). Such amount in cash will be