Company: BBVXF
Filing Date: 2025-02-27
Form Type: F-4/A
Source: 0001193125-25-037317
Chunk: 5

Company: BANCO BILBAO VIZCAYA ARGENTARIA, S.A.
Filing Date: 2025-02-27
Form: F-4/A
Chunk 5
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, as described in this offer to exchange/prospectus). On October 10, 2024, BBVA paid a
dividend of €0.29 per BBVA share and, as a result, BBVA increased the exchange offer consideration to one newly-issued BBVA share and €0.29 in cash for each 5.0196 Banco Sabadell shares tendered and not withdrawn. On January 30, 2025, BBVA
announced a dividend of €0.41 per BBVA share payable on April 10, 2025, which is subject to approval by BBVA’s general shareholders’ meeting. Such dividend, when paid, will result in a corresponding change in the exchange offer cash
consideration. The purpose of the exchange offer cash consideration is to provide tendering holders of Banco Sabadell shares with an amount equivalent to the aggregate amount of all distributions of dividends, reserves or any other type of
distributions made to shareholders of BBVA after the date of the publication of BBVA’s announcement of its intention to make the exchange offer but prior to the settlement of the exchange offer or, if applicable, after the settlement of the
exchange offer but before the settlement of a subsequent squeeze-out transaction. As a result, tendering holders of Banco Sabadell shares will receive this equivalent amount once they become shareholders of BBVA.

As mentioned above, if each of the dividends announced by BBVA and Banco Sabadell on January 30, 2025 and February 7, 2025, respectively, are
approved and paid prior to the settlement of the exchange offer or, if applicable, after the settlement of the exchange offer but before the settlement of a subsequent squeeze-out transaction, the exchange ratio and the exchange offer cash
consideration will be adjusted. As a result, pursuant to the exchange offer, BBVA will offer one newly-issued BBVA share and €0.70 in cash for each 5.3456 Banco Sabadell shares tendered and not withdrawn.

This offer to exchange/prospectus is being addressed to all holders of Banco Sabadell shares that are residents of, or located in, the United
States (each, a “U.S. holder”). Separate offering documents are being (or will be) published in Spain and made available (or will be made available) to all holders of Banco Sabadell shares.

The exchange offer is being made on the terms and subject to the conditions set forth in this offer to exchange/prospect