Company: BBVXF
Filing Date: 2025-09-09
Form Type: 424B3
Source: 0001193125-25-198517
Chunk: 225

Company: BANCO BILBAO VIZCAYA ARGENTARIA, S.A.
Filing Date: 2025-09-09
Form: 424B3
Chunk 225
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 the Administrative
Appeal, BBVA may be able to consummate a merger with Banco Sabadell sooner than would otherwise be permitted pursuant to the Council of Ministers’ Authorization. There is no guarantee that BBVA will prevail in the Administrative Appeal. BBVA
expects the Administrative Appeal to be resolved in a period of between 18 months and two years.

Plans Regarding Shareholder Remuneration Policy

During 2023 and 2024, remuneration for Banco Sabadell shareholders has consisted partly of cash and partly of share repurchases.
On May 6, 2024, Banco Sabadell made public its commitment to distribute to its shareholders, on an ongoing basis, any excess capital above what is required to maintain a 13% CET1 ratio (considering Basel IV). On July 23, 2024, Banco
Sabadell made public its decision to set the 2024 payout ratio at 60% of its net attributable profit.

On March 20, 2025, Banco
Sabadell’s general shareholders’ meeting approved a new shareholder remuneration policy. This new policy contemplates a payout ratio of between 40% and 60% of net attributable profit, payable in dividends or other forms of shareholder
remuneration (including share buy-backs). The policy also introduces the possibility of making capital distributions against Banco Sabadell’s reserves and/or share premium, not necessarily directly related to the results obtained by Banco
Sabadell (for example, in the case of being above Banco Sabadell’s CET1 ratio target). Additionally, the new policy contemplates the possibility of making extraordinary distributions above the annual pay-out ratio of between 40% and 60% of the
net profit attributable to Banco Sabadell or distributions against freely available reserves. Lastly, the new policy contemplates that the board of directors of Banco Sabadell may declare more than one interim dividend per financial year payable on
each of August 29 and December 29 of the relevant financial year. This policy is expected to apply through completion of the exchange offer, though it may be subsequently revisited by Banco Sabadell’s board of directors without the need for
approval by Banco Sabadell’s general shareholders’ meeting. Additionally, on July 1, 2025, Banco Sabadell published the TSB Sale Inside Information Notice, announcing, among other things, its decision to call an extraordinary general
shareholders’ meeting to approve the payment of the TSB Sale Dividend