Company: BBVXF
Filing Date: 2025-01-08
Form Type: 424B5
Source: 0001193125-25-003393
Chunk: 100

Company: BANCO BILBAO VIZCAYA ARGENTARIA, S.A.
Filing Date: 2025-01-08
Form: 424B5
Chunk 100
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 and adjust the impacts of the business combination in accordance with paragraphs 45 and B67 of such standard, the standard establishes the possibility of extending the valuation measurement period to one year from the date the transaction takes place. S-62

Assumptions and Estimates Used The pro forma financial information reflects the acquisition by BBVA of the Target Company assuming acceptance of the Exchange Offer by holders of Target Company shares representing 100% (irrespective of whether or not the Merger is consummated) and 50.01% (without the Merger being consummated), respectively, of the Target Company’s share capital in exchange for one newly-issued BBVA share and €0.29 in cash for each 5.0196 Target Company shares (irrespective of whether or not the intended Merger is consummated). The adjustments included in the pro forma financial information solely include those that are factually supportable on the basis of the information that is publicly available to BBVA. See “ —Sources of Information” above. The main assumptions and estimates used in the preparation of the pro forma financial information are the following:

| · |     | The outstanding shares of the Target Company subject to the Exchange Offer are those outstanding as of June 30, 2024 (5,440 million Target Company 
 shares).                                                                                                                                           |

| · |     | BBVA’s capital increase is carried out in the proportion of one newly-issued BBVA share for each 5.0196 Target Company shares, without any further                                                                                                       
 adjustment for any dividends paid. Therefore, the number of BBVA shares to be issued in the event of an acquisition of 100% and 50.01% of the Target Company shares is approximately 1,084 million BBVA shares and approximately 542 million             
 BBVA shares, respectively. The acquisition costs of the business combination will be determined on the basis of the trading price of the BBVA shares delivered to holders of Target Company shares in accordance with the exchange ratio applicable upon 
 completion of the Exchange Offer. The estimated value of such capital increase in the event of an acquisition of 100% and 50.01% of the Target Company shares amounts to approximately €10,136 million and €5,069 million,                               
 respectively, using a trading price of €9.35 per BBVA share (which corresponds to the price per BBVA share as of June 28, 2024, and which corresponds to a trading price of €1.863 per Target Company share upon