Company: BBVXF
Filing Date: 2025-09-09
Form Type: 424B3
Source: 0001193125-25-198517
Chunk: 103

Company: BANCO BILBAO VIZCAYA ARGENTARIA, S.A.
Filing Date: 2025-09-09
Form: 424B3
Chunk 103
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 valuation of assets and liabilities recorded at amortized cost, the accrual of interest is impacted, resulting in higher net interest income of €88 million associated with fixed income instruments and €106 million associated with securities issuances.

| (b) | Tax impacts: |

The adjustments described above would result in corresponding tax impacts, calculated on the basis of the general corporate income tax rate currently in effect in Spain with respect to credit institutions (30%). Impact of Other Potential Scenarios on the Pro Forma Financial Information The descriptions below contemplate the potential impact that other scenarios would have on the pro forma financial information. Sensitivity of Goodwill/(Negative Goodwill) to the Trading Price of the BBVA Shares The sensitivity of goodwill/(negative goodwill), estimated in accordance with the assumptions and information described above, to a positive or negative variation of €0.50 in the BBVA share price is approximately +/- €450 million.

| • |     | Assuming a trading price of €10.24 per BBVA share (the weighted average price per BBVA share during the                                                                                                                                     
 three-month period prior to the publication of BBVA’s announcement of its intention to make the exchange offer) and taking into account the exchange offer cash consideration (resulting in an equivalent price per Banco Sabadell share of 
 €1.972 upon application of the exchange ratio of 5.5483), the difference between the consideration offered and total equity would generate negative goodwill (badwill) recognized in the income statement of approximately €(2,072)         
 million and €(1,036) million, in the event of completion of the exchange offer under the Full Acquisition Scenario and the 50% Acceptance Scenario, respectively.                                                                           |

70

| • |     | Assuming a trading price of €15.60 per BBVA share (corresponding to the closing price per BBVA                                                                                                                                                 
 share on September 1, 2025) and taking into account the exchange offer cash consideration (resulting in an equivalent price per Banco Sabadell share of €2.9378 upon application of the exchange ratio of 5.5483), the goodwill resulting from 
 completion of the exchange offer would be approximately €2,782 million and €1,391 million, in the event of completion of the exchange offer under the Full Acquisition Scenario and the 50% Acceptance Scenario, respectively.                 |

BBVA’s Ability to Consolidate Banco Sabadell’s Financial Position and Results of Operations Within the BBVA Group’s Consolidated Financial Statements BBVA’s ability to