Company: BBVXF
Filing Date: 2025-01-08
Form Type: 424B5
Source: 0001193125-25-003393
Chunk: 323

Company: BANCO BILBAO VIZCAYA ARGENTARIA, S.A.
Filing Date: 2025-01-08
Form: 424B5
Chunk 323
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 Securities in connection with which the Shareholders as a class are entitled to participate in arrangements whereby such Securities may be acquired by them (except where the Floor Price falls to be adjusted under sub-paragraphs(b), (c), (d), (e) or (f) above or sub-paragraph(j) below (or would fall to be so adjusted if the relevant issue or grant was at less than 95% of the Current Market Price per Common Share on the relevant dealing day under sub-paragraph(e) above)) the Floor Price shall be adjusted by multiplying the Floor Price in force immediately before the Effective Date by the following fraction:

| A – B |
| A     |

where: A is the Current Market Price of one Common Share on the Effective Date; and B is the Fair Market Value on the Effective Date of the portion of the relevant offer attributable to one Common Share. Such adjustment shall become effective on the Effective Date. “Effective Date” means, in respect of this sub-paragraph(i), the first date on which the Common Shares are traded ex-rightson the Relevant Stock Exchange. (j) If BBVA determines that a reduction to the Floor Price should be made for whatever reason, the Floor Price will be reduced (either generally or for a specified period as notified to holders of the contingent convertible preferred securities of such relevant series) in such manner and with effect from such date as BBVA shall determine and notify to the holders of the relevant series of contingent convertible preferred securities. Notwithstanding the foregoing provisions in this section “ Anti-Dilution Adjustment of the Floor Price”:

| · |     | where the events or circumstances giving rise to any adjustment of the Floor Price have already resulted or will result in an adjustment to the Floor Price or                                                                                          
 where the events or circumstances giving rise to any adjustment arise by virtue of any other events or circumstances which have already given or will give rise to an adjustment to the Floor Price or where more than one event which gives rise to an 
 adjustment to the Floor Price occurs within such a short period of time that, in the opinion of BBVA, a modification to the operation of the adjustment provisions is required to give the intended result, such modification shall be made to the      
 operation of the adjustment provisions as may be determined in good faith by an Independent Financial Adviser to be in its opinion appropriate to give the intended result; and                                                                         |

| · |     | such modification shall be made to the operation of the anti-dilution adjustment terms described in this section “Anti-Dilution Adjustment