Company: BBVXF
Filing Date: 2025-02-27
Form Type: F-4/A
Source: 0001193125-25-037317
Chunk: 270

Company: BANCO BILBAO VIZCAYA ARGENTARIA, S.A.
Filing Date: 2025-02-27
Form: F-4/A
Chunk 270
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 for the acquisition of up to 100% of Banco Sabadell’s shares.

Later, in September 2024, BBVA obtained authorisation from the UK’s Prudential Regulation Authority (PRA) for the acquisition of indirect control
over TSB and the ECB’s decision not to oppose the takeover of Banco Sabadell.

As at the sign-off date
of these annual financial statements, the tender offer remains pending receipt of regulatory authorisation from the CNMC (which on 12 November 2024 announced that its concentration analysis was moving to phase 2) and from the CNMV. It also
remains pending acceptance of the offer by a number of shares that allows BBVA to acquire at least more than half of the effective voting rights of Banco

Basel IV marks the final phase of the Basel III standards.

Subsequently, in July 2024, the estimation of Banco
Sabadell’s shareholder remuneration to be charged to the earnings of 2024 and 2025 was updated, announcing to the market that the expected amount would change from the 2.4 billion euros announced on 6 May 2024 (to be increased by the
250 million euros pending execution under Banco Sabadell’s share buyback programme suspended on 13 May 2024 following publication of the prior announcement of the tender offer, which represented a total of 2.65 billion euros) to
2.9 billion euros (already including the aforesaid 250 million euros pending execution under the Bank’s share buyback programme), representing a net increase of 250 million euros. Similarly, at its meeting of 6 February
2025, the Board of Directors updated its estimated total shareholder remuneration amount against earnings of 2024 and 2025 to 3.3 billion euros.

A-51

Sabadell at the end of the offer acceptance period (therefore excluding any treasury shares held by
Banco Sabadell at that time), in accordance with the amended offer released by BBVA on 9 January 2025 through an Inside Information disclosure entered in the CNMV’s register under number 2,544.

For as long as the tender offer remains pending, it will generate uncertainty for the Group, which is inherent in the very nature of the offer put
forward. At the present time, there can be no certainty as to how long it will take for the tender offer to be authorised, nor of the ultimate outcome of the tender offer, if approved.