Company: BBVXF
Filing Date: 2025-09-05
Form Type: F-4/A
Source: 0001193125-25-196513
Chunk: 15

Company: BANCO BILBAO VIZCAYA ARGENTARIA, S.A.
Filing Date: 2025-09-05
Form: F-4/A
Chunk 15
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 U.S. business days from the                                            
 date the exchange offer is first published, sent or given, will need to disclose its position (or inability to take a position) with respect to the exchange offer. Banco Sabadell’s respective Chairman and Chief Executive Officer have publicly       
 manifested their opposition to the exchange offer.                                                                                                                                                                                                       |

| Q. | What will I receive if I tender my Banco Sabadell shares and the exchange offer is completed? |

| A. | If you tender, and do not withdraw, your Banco Sabadell shares into the exchange offer and the exchange offer                                                                                                                                        
 is completed, you will receive one newly-issued BBVA share and €0.70 in cash for each 5.5483 Banco Sabadell shares tendered (adjusted, as the case may be, as described in this offer to exchange/prospectus). The treatment of fractional shares is 
 described in the following question.                                                                                                                                                                                                                 |

| Q. | Will I receive fractional BBVA shares or a fraction of the exchange offer cash consideration? |

| A. | No fractional BBVA shares will be issued in connection with the exchange offer. Instead of any such fractional                                                                                                                                          
 BBVA shares that a tendering holder of Banco Sabadell shares would otherwise be entitled to receive, BBVA will pay to the relevant tendering holder an amount in cash equal to the weighted average price per BBVA share during the 15 trading sessions 
 prior to the expiration date (including the expiration date) multiplied by the fraction of a BBVA share that a tendering holder of Banco Sabadell shares would otherwise be entitled to receive in accordance with the exchange ratio of 5.5483         
 (adjusted, as the case may be, as described in this offer to exchange/prospectus). Such amount in cash will be rounded to the nearest euro cent and, in the event of a half of a euro cent, to the immediately higher euro cent. Under no circumstances 
 will interest be paid on the cash to be received in lieu of any fractional shares.                                                                                                                                                                      |

With respect to the exchange offer cash consideration, tendering holders of Banco Sabadell shares that tender a number of Banco Sabadell shares that does not entitle them to receive at least one newly-issued BBVA share, or that entitles them to receive a whole number of newly-issued BBVA shares but have an excess number of Banco Sabadell shares that would entitle them to receive the above cash payment in lieu of a fractional BBVA share, will receive