Company: BBVXF
Filing Date: 2025-09-08
Form Type: 425
Source: 0001193125-25-198316
Chunk: 12

Company: BANCO BILBAO VIZCAYA ARGENTARIA, S.A.
Filing Date: 2025-09-08
Form: 425
Chunk 12
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 to submit a public offer provided for in Royal Decree 1066/2007.

| 8. | GUARANTEES AND FINANCING OF THE OFFER |

| 8.1 | Offer Guarantees |

Taking into consideration that BBVA’s Offer to Banco Sabadell shareholders consists of the exchange of one (1) newly issued ordinary share of BBVA and €0.70 in cash for every five point five four eight three (5.5483) ordinary shares of Banco Sabadell, BBVA has provided, in accordance with the 7

This is an unofficial English translation for information purposes only of the offer announcement’s official version in Spanish. The National Securities Market Commission (Comisión Nacional del Mercado de Valores) did not review this version. In the event of any discrepancies between this document and the corresponding Spanish version, the Spanish version shall prevail. provisions of Article 15.2 of Royal Decree 1006/2007:

| (i) | Documentation evidencing the constitution of an unavailable cash deposit for an amount of €2,300,000, in order to guarantee the payment in cash of the picos resulting from the Share Consideration as a result of the acceptance of the Offer that would correspond to the Share 
 Consideration. Without prejudice to the amount deposited for these purposes, BBVA has estimated that the maximum amount to be paid in cash under the picos regime amounts to the amount of                                                                                        
 €2,012,089, according to the assumptions described in section III.1.2.3 of the Prospectus; and                                                                                                                                                                                    |

| (ii) | Documentation evidencing the constitution of two unavailable cash deposits, dated November 4, 2024, and                                                                              
 April 9, 2025, for an aggregate amount of €701,462,226, in order to guarantee the payment of the amount of the Cash Consideration as a result of the acceptance of the Offer and the 
 settlement of the forced sale provided for in section III.2 of the Prospectus.                                                                                                       |

Cash deposits are considered to be financial guarantees for the purposes of Real Decreto-ley5/2005, de 11 de marzo, de reformas urgentes para el impulso a la productividad y para la mejora de la contratación pública.The amount of both unavailable deposits guarantees in full the cash payment of the Offer consideration for the picosand for the Cash Consideration. In addition, in accordance with the provisions of Article