Company: BBVXF
Filing Date: 2025-09-08
Form Type: 425
Source: 0001193125-25-198316
Chunk: 10

Company: BANCO BILBAO VIZCAYA ARGENTARIA, S.A.
Filing Date: 2025-09-08
Form: 425
Chunk 10
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 registration number 2801) its decision not to withdraw from the Offer for this reason. However, BBVA considers that the condition imposed by the Council of Ministers is not in accordance with the law and, by virtue of this, has proceeded to file the corresponding contentious-administrative before the Spanish Supreme Court under the provisions of Articles 25 and 45 of Ley 29/1998, de 13 de julio, reguladora de la Jurisdicción Contencioso-administrativa.

| 7.2 | Restrictions on waiver of conditions in the event that they are not fulfilled |

6

This is an unofficial English translation for information purposes only of the offer announcement’s official version in Spanish. The National Securities Market Commission (Comisión Nacional del Mercado de Valores) did not review this version. In the event of any discrepancies between this document and the corresponding Spanish version, the Spanish version shall prevail. In accordance with the provisions of Article 33.3 of Royal Decree 1066/2007, BBVA may waive the Minimum Acceptance Condition until no later than the trading day following the day on which the CNMV anticipates the number of declarations of acceptance of the Offer submitted and not revoked. In this regard, BBVA has a waiver granted by the SEC on September 2, 2025, as detailed in chapter V.6 of the Prospectus, to be able to waive the Minimum Acceptance Condition in accordance with the provisions of Article 33.3 of Royal Decree 1066/2007 (since American regulations provide for different deadlines for such waiver), for which BBVA has committed that it could only waive the Minimum Acceptance Condition if it acquires, in the Offer, at least 30% of the voting rights of the shares of Banco Sabadell at the end of the acceptance period of the Offer (excluding any treasury stock held by Banco Sabadell as of that time, if applicable). Apart from the above, BBVA is not subject to any additional limitation or restriction, its own or imposed by third parties, in order to waive the Minimum Acceptance Condition.

| 7.3 | BBVA’s forecasts regarding the possible waiver of the condition and impact of such waiver on the Offer |

BBVA does not intend to waive the Minimum Acceptance Condition in accordance with Article 33.3 of Royal Decree 1066/2007, although it may decide to do so in view of the circumstances prevailing at that time. BBVA, in accordance with the