Company: BBVXF
Filing Date: 2025-09-09
Form Type: 424B3
Source: 0001193125-25-198517
Chunk: 181

Company: BANCO BILBAO VIZCAYA ARGENTARIA, S.A.
Filing Date: 2025-09-09
Form: 424B3
Chunk 181
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100% of the share capital of                          
 Banco Sabadell. Percentages for the six months ended June 30, 2025 are calculated on the basis of annualized attributable net profit. |

| (4) | Calculated based on the assumptions and estimates described under “—Impact of the Acquisition of                                                                  
 Control of Banco Sabadell on the BBVA Group’s CET1 Ratio” and assuming completion of the exchange offer under the Full Acquisition Scenario (as defined therein). |

| (5) | Calculated based on the assumptions and estimates described under “—Impact of the Acquisition of                                                                
 Control of Banco Sabadell on the BBVA Group’s CET1 Ratio” and assuming completion of the exchange offer under the 50% Acceptance Scenario (as defined therein). |

| (6) | Calculated based on the assumptions and estimates described under “—Conditions to Completion of the                                                                                                                      
 Exchange Offer—Potential Waiver by BBVA of the Minimum Acceptance Condition—Impact on the BBVA Group’s CET1 ratio” and assuming completion of the exchange offer under the 30% Acceptance Scenario (as defined therein). |

For additional information on the potential consequences the TSB Sale, see “Risk Factors—Risks Relating to the Exchange Offer—If the exchange offer is completed and the TSB Sale is consummated, TSB will, following consummation of the TSB Sale, no longer be part of the BBVA Group. Additionally, the exchange ratio for the exchange offer would be adjusted as a result of the payment of the TSB Sale Dividend only if the ex-dividenddate occurs prior to the date of publication of the results of the exchange offer in the Official Quotation Bulletins. Given that, according to the TSB Sale Inside Information Notice, the closing of the TSB Sale is 137

expected to occur in the first quarter of 2026, the exchange ratio is not expected to be adjusted as a result of the payment of the TSB Sale Dividend”.

Procedure for Tendering

Upon settlement of the exchange offer, holders of Banco Sabadell shares who tender, and do not withdraw, their Banco Sabadell shares into the
exchange offer will receive one newly-issued BBVA share and €0.70 in cash for each 5.5483 Banco Sabadell shares. The participation of an Iberclear participant will be necessary for the delivery of the exchange offer consideration.

As BBVA is a credit institution legally authorized to perform the functions of