Company: BBVXF
Filing Date: 2025-08-12
Form Type: DRS
Source: 0000950123-25-007520
Chunk: 168

Company: BANCO BILBAO VIZCAYA ARGENTARIA, S.A.
Filing Date: 2025-08-12
Form: DRS
Chunk 168
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 as a Result of the Acquisition of Control of Banco Sabadell”), which would be recorded in the income statement in the first year
once the restructuring plan has been approved by the corporate bodies of the resulting entity, once the merger is consummated. Additionally, BBVA estimates extraordinary expenses of €48 million per year before taxes for amortizations for a
period of five years following the consummation of the merger with Banco Sabadell, mainly from investments necessary to carry out the integration.

Additionally, with the information available to BBVA as of the date of this offer to exchange/prospectus, BBVA estimates that the consummation
of a merger with Banco Sabadell would result in additional lending capacity for society as a whole. BBVA estimates that the resulting entity would have an additional lending capacity of approximately €5,800 million per year to households and
businesses in Spain from the first year after the merger is consummated (in addition to the estimated additional lending capacity of more than €1,500 million per year mentioned under “—Estimated Synergies as a Result of the
Acquisition of Control of Banco Sabadell” above).

The additional lending capacity of the resulting entity has been calculated on the
basis of the synergies described above, the realization of which is estimated would allow for the generation of approximately €700 million in additional net attributable profit annually. Of this additional net attributable profit, after
assuming a distribution to shareholders of approximately 50% of such net attributable profit annually, in line with BBVA’s current shareholder remuneration policy, approximately €350 million would be reinvested in capital. If a 12% CET1
ratio is maintained, this additional capital would permit the group to increase its risk-weighted assets by up to €2,900 million. Assuming new loans would have an estimated risk weight of 50% (in line with the average risk weight for
BBVA’s loans for homes and businesses in Spain), the €2,900 million increase in risk-weighted assets would correspond to additional lending capacity of approximately double that amount, or approximately €5,800 million.

120

As confidentially submitted to the Securities and Exchange Commission on August 11, 2025.

This Amendment No. 4 has not been publicly filed with the Securities and Exchange Commission and all

information herein remains strictly confidential.

As of the date of this offer to exchange/prospectus, it is not possible to predict the
percentage of this new lending capacity that will result in