Company: BBVXF
Filing Date: 2025-09-09
Form Type: 424B3
Source: 0001193125-25-198517
Chunk: 211

Company: BANCO BILBAO VIZCAYA ARGENTARIA, S.A.
Filing Date: 2025-09-09
Form: 424B3
Chunk 211
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 days, BBVA will announce the date of the squeeze-out transaction. In accordance with article 48.4 of the Spanish Takeover Regulation, such date will be
fixed between the 15 and the 20 Spanish business day following the date of such announcement. Such decision will be irrevocable. Upon
settlement of such squeeze-out transaction, the Banco Sabadell shares will be automatically delisted from the Spanish Stock Exchanges.

The execution of the squeeze-out transaction resulting from the exercise of the aforementioned right
shall give rise, in accordance with article 48 of the Spanish Takeover Regulation and related provisions, to the delisting of the shares of Banco Sabadell from the Spanish Stock Exchanges. Such delisting shall be effective as from the settlement of
the squeeze-out transaction.

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Even if a squeeze-out transaction is effected, pursuant to the Council of Ministers’
Authorization, BBVA will need to comply with the Autonomy Condition during the No-merger Period, except to the extent the Autonomy Condition is declared void as a result of the Administrative Appeal.

Impact of the Acquisition of Control of Banco Sabadell on the BBVA Group’s CET1 Ratio

The below presents BBVA’s estimated impact of the acquisition of control of Banco Sabadell on the BBVA Group’s CET1 ratio (i) if
the exchange offer were accepted by holders of Banco Sabadell shares representing 100% of the share capital of Banco Sabadell (for purposes of this section, the “Full Acquisition Scenario”) and (ii) if the exchange offer were accepted by
holders of Banco Sabadell shares representing 50% of the share capital of Banco Sabadell (for purposes of this section, the “50% Acceptance Scenario”).

The estimated impacts on the CET1 ratio of the consolidated group discussed below have been prepared by BBVA taking into account the dividend
of €0.08 per Banco Sabadell share paid by Banco Sabadell on October 1, 2024, the dividend of €0.1244 per Banco Sabadell share paid by Banco Sabadell on March 28, 2025, the dividend of €0.07 per Banco Sabadell share paid by Banco
Sabadell on August 29, 2025, the dividend of €0.29 per BBVA share paid by BBVA on October 10, 2024 and the dividend of €0.41 per BBVA share paid by BBVA on April