Company: BBVXF
Filing Date: 2025-02-27
Form Type: F-4/A
Source: 0001193125-25-037317
Chunk: 178

Company: BANCO BILBAO VIZCAYA ARGENTARIA, S.A.
Filing Date: 2025-02-27
Form: F-4/A
Chunk 178
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 is to adopt the decision that generates the greatest value for the shareholders and clients of the combined entity and that best suits its strategic and commercial interests. 127

Strategic Plans and Intentions Regarding Job Retention and Any Major Changes in Working Conditions

Following completion of the exchange offer, BBVA intends to implement an integration process that, regarding personnel decisions,
will seek to promote and preserve the best talent and culture of both entities. BBVA recognizes that both its own personnel and that of Banco Sabadell constitute their respective greatest assets, with talent management being a fundamental priority
for maintaining the combined group’s competitive advantage.

In relation to the personnel synergies expected as a result of the
intended merger, if completed, BBVA expects to adjust the workforce of both entities, for which purpose it will carry out a strategic and objective evaluation of the business, activities, job positions and working conditions of Banco Sabadell after
completion of the exchange offer. As a result of that review, BBVA will analyze which changes will enable it to avoid unnecessary duplications of job functions, to improve operational efficiency and to optimize corporate resources. Presently, BBVA
intends to form an integration committee with representatives from both entities, with the objective of designing the best integration process seeking to maximize the talent of both entities.

BBVA will initiate a consultation process with the workers’ representatives in order to minimize the impact of the adjustment,
prioritizing, as much as possible, voluntary departures and relocations. Likewise, during the consultation period with the workers’ representatives, BBVA plans to initiate negotiations in order to align the human resources policies of both
entities, which could imply changes to the working conditions of employees and executives of Banco Sabadell.

Plans Regarding the Use or Disposal of Assets of Banco Sabadell and Expected Variations in its Net Financial Debt

As a result of the intended merger, BBVA may choose
to make some adjustment or optimization involving the sale or disposal of any one or more of Banco Sabadell’s assets. While BBVA does not currently have any such plan (except with respect to the estimated rationalization of the branch network
in Spain of less than 10% of the combined network, equivalent to 300 of the approximately 870 branch offices identified in the combined group within a proximity of less than 500 meters), these options are expected to be analyzed in any event after
completion of the exchange offer.

Apart from the foregoing, BBVA does not have any plans regarding Banco Sabadell’s net