Company: BBVXF
Filing Date: 2025-09-08
Form Type: 425
Source: 0001193125-25-198316
Chunk: 36

Company: BANCO BILBAO VIZCAYA ARGENTARIA, S.A.
Filing Date: 2025-09-08
Form: 425
Chunk 36
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 requirements set out in section III.2.1 of the Prospectus are met, BBVA will exercise the right of forced sale against the remaining shareholders of Banco Sabadell as soon as possible after the settlement of the Offer, in accordance with the procedure set out in section III.2.2 of the Prospectus and in accordance with the formalities set out in section III.2.3 of the Prospectus. 21

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.

| 11. | AUTHORIZATIONS |

| 11.1 | Antitrust authorizations |

The economic concentration resulting from the Offer has been authorized by the Spanish antitrust authorities in accordance with the provisions of Ley 15/2007, de 3 de julio , de Defensa de la Competencia(the “ LDC”). The CNMC Board of Directors authorized, in the second phase, the economic concentration derived from the Offer on April 30, 2025, subject to compliance with the commitments agreed with the CNMC, which are summarized in section V.1 of the Prospectus. The resolution adopted by the CNMC was communicated to the head of the Ministry of Economy, Trade and Business at the same time as it was notified to the interested parties, who decided to submit the decision to the Council of Ministers on May 27, 2025, in accordance with the provisions of the LDC. On June 24, 2025, the Council of Ministers agreed to authorize the economic concentration resulting from the Offer with an additional condition (which is reproduced verbatim in section IV.1.1 of the Prospectus) and to confirm the commitments agreed with the CNMC. The aforementioned agreement of the Council of Ministers put an end to the procedure for the control of economic concentrations in Spain, with BBVA having the power to withdraw from the Offer by virtue of the provisions of Article 26.1.c) of Royal Decree 1066/2007 as a result of the fact that the authorization is subject to a condition. BBVA communicated by means of an inside information notice dated June 30, 2025 (with registration number 2801) its decision not to withdraw from the Offer for this reason. BBVA considers that the Condition of the Council