Company: BBVXF
Filing Date: 2025-09-09
Form Type: 424B3
Source: 0001193125-25-198517
Chunk: 40

Company: BANCO BILBAO VIZCAYA ARGENTARIA, S.A.
Filing Date: 2025-09-09
Form: 424B3
Chunk 40
---
 Form 6-K listed above) to be a complete set of all potential risks or uncertainties. Important factors that could cause actual results to differ materially from those expressed or implied by forward-lookingstatements include, among others:

| • |     | the deterioration of economic conditions or the alteration of the institutional environment of the countries in                                                                                                                                          
 which BBVA operates, especially Spain, Mexico and Turkey, including any adverse developments, or the perception that such developments may occur, regarding credit quality, public debt sustainability, economic or fiscal policy and sovereign ratings, 
 particularly Spain’s, Mexico’s and Turkey’s, among other factors. Financial and macroeconomic volatility may increase as a result of, among other factors, U.S. administration policies, including tariffs and fiscal and regulatory                     
 changes. The effects of, and uncertainty arising from, these policies and large fiscal deficits have raised the U.S. risk premium, pushing up long-term sovereign yields and weakening the U.S. dollar, and they may spark further market instability;   |

| • |     | the effects of geopolitical tensions and economic challenges in recent years including, among other factors, the                                                                                  
 ongoing conflicts in Ukraine and in the Middle East, long-standing United States–China rivalry, including recent trade tariffs, the escalation of trade tariffs globally, and changes in policies 
 generally. Furthermore, there is the risk of a sharp global growth slowdown;                                                                                                                      |

24

| • |     | changes or volatility in interest rates, foreign exchange rates, asset prices, equity markets, commodity prices                                                                                                                                          
 (including energy prices), inflation or deflation and, in particular, as of the date of this offer to exchange/prospectus, the depreciation of the currencies of the non-euro geographical areas in which BBVA                                           
 operates, high inflation, stagflation due to more intense or prolonged supply crises, high interest rates in most of the geographical areas where BBVA operates (which may impact default rates) and low real interest rates in Turkey (which may affect 
 BBVA’s margins);                                                                                                                                                                                                                                         |

| • |     | adverse developments in emerging economies, in particular Latin America and Turkey, including unfavorable                                                                                                                                                
 political and economic developments, social instability and changes in governmental policies, including expropriation, nationalization, exchange controls or other limitations on the distribution or repatriation of dividends, international ownership 
 legislation, tax policies, interest rate caps, fee caps and other policies affecting the banking sector, including the “liraization” strategy in Turkey (which seeks to increase the weight of Turkish lira-den