Company: BBVXF
Filing Date: 2025-09-08
Form Type: 425
Source: 0001193125-25-198316
Chunk: 33

Company: BANCO BILBAO VIZCAYA ARGENTARIA, S.A.
Filing Date: 2025-09-08
Form: 425
Chunk 33
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 of the Offer will take place simultaneously with the registration in the registries of Iberclear and its participating entities of the newly issued shares of BBVA in the name of the acceptors of the Offer. The settlement date of the Offer shall be deemed to be the date on which the ownership of the newly issued shares of BBVA is registered in favour of the shareholders of Banco Sabadell who have accepted the Offer in the accounting records of Iberclear and its participating entities. This date will be considered as the date of exchange of Banco Sabadell shares for newly issued BBVA shares. BBVA will notify the CNMV, by means of a communication of other relevant information, of the settlement of the Offer.

| (v) | Admission to trading |

It is expected that the newly issued shares will be admitted to trading on the Spanish Stock Exchanges within a maximum period of two trading days from the registration of the new securities as book entries in Iberclear, except for unforeseen events. BBVA undertakes to make its best efforts to ensure that the procedure for the execution of the capital increase, the settlement of the Offer and the subsequent admission to trading on the Spanish Stock Exchanges of the new shares issued, takes place as soon as possible and foreseeably within a maximum period of 14 trading days from the date of publication of the result of the Offer. In the event that the aforementioned deadline is not met, BBVA will communicate the reasons for such delay by means of a notification of relevant information. BBVA will also make its best efforts, in collaboration with the corresponding regulatory authorities, to ensure that BBVA’s newly issued shares are admitted to trading as soon as possible from the date of publication of the result of the Offering on the Mexican and London Stock Exchanges.

| 10.2.6 | Settlement of the Offer in relation to the Cash Consideration and Picos |

The settlement of the Cash Consideration and the Picos will be intermediated and carried out by BBVA, in its capacity as a member of the market and as a participating entity in Iberclear. The settlement and payment of the Cash Consideration and the Picos will take place following the procedure established for this purpose by Iberclear, simultaneously with the settlement of the Share Consideration, i.e. on the date of registration in Iberclear’s registries of the newly issued BBVA shares.

| 10.3 | Offer acceptance and settlement fees |

All expenses arising from BBVA’s capital increase will be borne by BBVA.