Company: BBVXF
Filing Date: 2025-02-27
Form Type: F-4/A
Source: 0001193125-25-037317
Chunk: 132

Company: BANCO BILBAO VIZCAYA ARGENTARIA, S.A.
Filing Date: 2025-02-27
Form: F-4/A
Chunk 132
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/prospectus, conditions (i) and (iii) above remain outstanding. BBVA does not intend to waive condition (i) above. Consequently, if a number of Banco Sabadell shares that permits BBVA to acquire at least more than half of the voting rights of the Banco Sabadell shares outstanding at the end of the acceptance period (thus, excluding any treasury shares held by Banco Sabadell as of that time) does not accept the exchange offer before the end of the acceptance period, the exchange offer will not be completed. According to the Spanish Takeover Regulation, if the CNMC declares the proposed exchange offer inappropriate before the end of the acceptance period, BBVA will be required to withdraw the exchange offer. In addition, pursuant to the Spanish Takeover Regulation, BBVA may, at its discretion, waive the condition referred to in (iii) above or withdraw the exchange offer if before the end of the acceptance period the CNMC approves the economic concentration resulting from completion of the exchange offer subject to conditions, including any remedies or commitments proposed by BBVA to address any competition concerns identified by the CNMC or different conditions imposed by the CNMC itself (in which case, BBVA will promptly evaluate the expected consequences of any such conditions to determine whether to continue with completion of or withdraw the exchange offer, and publicly announce its decision). For additional information on condition (iii) above, see “—Antitrust Authorizations—Spanish Antitrust Authorization”. 100

Antitrust Authorizations The economic concentration resulting from completion of the exchange offer is subject to the authorization of the following antitrust authorities:

| i. | The CNMC, in accordance with the Spanish Competition Law. |

In accordance with the provisions of article 26.1 of the Spanish Takeover Regulation, the economic concentration resulting from completion of the exchange offer is subject to the express or tacit authorization from the CNMC with the following effects:

| • |     | If before the end of the acceptance period the CNMC does not object to completion of the exchange offer, this 
 condition will be fulfilled.                                                                                  |

| • |     | If before the end of the acceptance period the CNMC declares the proposed exchange offer inappropriate, BBVA must 
 withdraw the exchange offer.                                                                                      |

| • |     | If before the end of the acceptance period the CNMC subjects its authorization to the fulfillment of any 
 condition, BBVA may, but is not required to, withdraw the exchange offer.                                |

| • |     | If before the end of the