Company: BBVXF
Filing Date: 2025-08-12
Form Type: DRS
Source: 0000950123-25-007520
Chunk: 289

Company: BANCO BILBAO VIZCAYA ARGENTARIA, S.A.
Filing Date: 2025-08-12
Form: DRS
Chunk 289
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0.29 euros in cash for every 5.3456 ordinary shares of Banco Sabadell that accept the offer. In addition, it announced a further adjustment of the exchange ratio as a result of BBVA’s final dividend charged to
earnings for 2024, establishing, as from 8 April 2025 (ex-dividend date), an exchange ratio of one newly issued ordinary share of BBVA and 0.70 euros in cash for every 5.3456 ordinary shares of Banco
Sabadell that accept the offer.

On 5 July 2024, during BBVA’s Extraordinary General Meeting, shareholders approved an increase of its
share capital through the issuance of ordinary shares, up to a maximum par value of 551,906,524.05 euros, with non-cash contributions in order to cover the consideration in kind of the voluntary tender offer
put forward by BBVA 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.

On 30 April 2025, the CNMC’s Board approved the economic concentration between BBVA and Banco Sabadell in phase two, subject to certain
commitments undertaken by BBVA. Subsequently, on 24 June 2025, the Spanish Council of Ministers authorised the aforementioned concentration in phase three, with a condition additional to the BBVA commitments previously accepted by the CNMC.
This condition was based on various criteria of public interest.

As at the sign-off date of these
condensed consolidated interim financial statements, the tender offer remains pending receipt of regulatory authorisation from the CNMV. It also remains pending acceptance of the offer, if it reaches this stage, by a number of shares that allows
BBVA to acquire at least more than half of the effective voting rights of Banco 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