Company: BBVXF
Filing Date: 2025-01-08
Form Type: 424B5
Source: 0001193125-25-003393
Chunk: 94

Company: BANCO BILBAO VIZCAYA ARGENTARIA, S.A.
Filing Date: 2025-01-08
Form: 424B5
Chunk 94
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”, it is possible to extend the valuation measurement period to one year from the date the transaction takes place.

Furthermore, the Target Company’s consolidated financial statements as of and for the year ended December 31, 2023 and the Target
Company’s condensed consolidated interim financial statements as of and for the six months ended June 30, 2024 have been prepared in accordance with IFRS-EU. Given the absence of information in such
financial statements regarding the extent of macro hedging accounting that could potentially fail to comply with IFRS-IASB, BBVA is not able to calculate the harmonization adjustments that would need to be applied to the consolidated financial
information of the Target Company as of any date or for any period in order to make such information compliant with IFRS-IASB. Accordingly, BBVA has not made any harmonization adjustments to the consolidated financial information of the Target
Company as of any date or for any period to make such information compliant with IFRS-IASB.

Prospective investors in the Preferred
Securities should consider that, as of the date of this prospectus supplement, there is necessarily uncertainty as to the actual effect that the completion of the Exchange Offer

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would have on the BBVA Group’s consolidated financial position and results of operations, and there is a risk that the financial condition and results of operations of the combined group
(i.e., the BBVA Group together with the Target Company Group), if the Exchange Offer is completed, may be materially different from that which may be implied by a simple arithmetic combination of the separate historical audited financial statements
of BBVA and the Target Company, respectively, or the pro forma financial information included in “Recent Developments—Exchange Offer to exchange 100% of the shares of Banco de Sabadell, S.A. for shares of Banco Bilbao Vizcaya Argentaria, S.A.—Unaudited Pro Forma Condensed Financial Information”.

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RECENT DEVELOPMENTS

Exchange Offer to exchange 100% of the shares of Banco de Sabadell, S.A. for shares of Banco Bilbao Vizcaya Argentaria, S.A.

On April 17, 2024, the Chair of BBVA and the Chairman of Banco de Sabadell, S.A. (the “Target Company”) had a meeting in
which the Chair of BBVA informed the Chairman of the Target Company about BBVA’s strategic and financial interest in resuming the merger discussions