Company: BBVXF
Filing Date: 2025-09-09
Form Type: 424B3
Source: 0001193125-25-198517
Chunk: 2

Company: BANCO BILBAO VIZCAYA ARGENTARIA, S.A.
Filing Date: 2025-09-09
Form: 424B3
Chunk 2
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 (that is, €2.12 per Banco Sabadell share), reduced by the amount of any distribution of dividends, reserves or any other type of
distribution by Banco Sabadell to Banco Sabadell’s shareholders 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. Notwithstanding the foregoing, the consideration payable upon settlement of the exchange offer or settlement of a subsequent squeeze-out
transaction, or both, as applicable, will not be adjusted for a distribution of

dividends, reserves or any other type of distribution to shareholders with an ex-dividenddate that occurs after the date of publication of the results of the exchange offer in the
official daily quotation bulletins of the Spanish Stock Exchanges (“Official Quotation Bulletins”). On October 1, 2024, Banco Sabadell paid a dividend of €0.08 per Banco Sabadell share and, as a result, the applicable exchange ratio
was adjusted on the ex-dividenddate of such dividend payment from the original exchange ratio of one newly-issued BBVA share for each 4.83 Banco Sabadell shares to one newly-issued BBVA share for each 5.0196 Banco Sabadell shares (which is
the result of dividing €10.24 per BBVA share by €2.04 per ex-dividend Banco Sabadell share). On March 28, 2025, Banco Sabadell paid a dividend of €0.1244 per Banco Sabadell share and, as a result, the applicable exchange ratio
was adjusted on the ex-dividenddate of such dividend payment from the prior exchange ratio of one newly-issued BBVA share for each 5.0196 Banco Sabadell shares to one newly-issued BBVA share for each 5.3456 Banco Sabadell shares (which is
the result of dividing €10.24 per BBVA share by €1.9156 per ex-dividendBanco Sabadell share). On August 29, 2025, Banco Sabadell paid a dividend of €0.07 per Banco Sabadell share and, as a result, the applicable exchange ratio
was adjusted on the ex-dividenddate of such dividend payment from the prior exchange ratio of one newly-issued BBVA share for each 5.345