Company: BBVXF
Filing Date: 2025-01-08
Form Type: 424B5
Source: 0001193125-25-003393
Chunk: 110

Company: BANCO BILBAO VIZCAYA ARGENTARIA, S.A.
Filing Date: 2025-01-08
Form: 424B5
Chunk 110
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 for the 
 year.                                                                                                            |

| (c) | Negative goodwill (badwill) resulting from the Exchange Offer: |

| The amount of goodwill at the time of completion of the Exchange Offer may differ, both in amount and in sign                                                                                                                                     
 (i.e., positive or negative goodwill), depending on the trading price of the BBVA shares at such time, which will determine the value of the consideration paid in the context of the Exchange Offer, the evolution of the Target Company Group’s 
 results of operations and assets, as well as changes in the value of the Target Company’s assets and liabilities resulting from, among others, changes in market conditions.                                                                      |

| (d) | Tax impacts: |

| The adjustments described above (other than negative goodwill (badwill)) would result in corresponding tax    
 impacts, calculated on the basis of the general corporate income tax rate currently in effect in Spain (30%). |

| (e) | Basic and diluted earnings (losses) per share from continuing operations: |

| For the calculation of the combined basic and diluted earnings (losses) per share from continuing operations,                                                                                                                                       
 the negative goodwill (badwill) recognized in results has been taken into account. If excluded, the combined earnings (losses) per share from continuing operations would amount to €1.30 both in the event of an acquisition of 100% and 50.01% of 
 the Target Company shares.                                                                                                                                                                                                                          |

Impact of Other Potential Scenarios in the Pro Forma Financial Information The description below contemplates the potential impact that other scenarios would have on the pro forma financial information. Sensitivity of Goodwill/(Negative Goodwill) to the Trading Price of the BBVA Shares The sensitivity of goodwill/(negative goodwill), estimated in accordance with the assumptions and information described above, to a positive or negative variation of €0.50 in the BBVA share price is approximately +/- €540 million.

S-71

| make the Exchange Offer) and €2.04 per Target Company share (the equivalent price per Target Company share resulting from the application of the exchange ratio of 5.0196) and the exchange                                  
 offer cash consideration, the goodwill resulting from completion of the Exchange Offer would be approximately €290 million and €145 million, in the event of an acquisition of 100% and 50.01% of the Target Company shares, 
 respectively.                                                                                                                                                                                                                |

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