Company: BBVXF
Filing Date: 2025-09-09
Form Type: 424B3
Source: 0001193125-25-198517
Chunk: 233

Company: BANCO BILBAO VIZCAYA ARGENTARIA, S.A.
Filing Date: 2025-09-09
Form: 424B3
Chunk 233
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 from the day
this offer to exchange/prospectus is first disseminated to security holders until the end of the acceptance period for the exchange offer (the “Regulation M Restricted Period”). Subject to certain exceptions, Rules 101 and 102 of
Regulation M would prohibit BBVA and its affiliates from bidding for or purchasing, or attempting to induce any person to bid for or purchase, BBVA shares or BBVA ADSs during the Regulation M Restricted Period.

The SEC granted BBVA relief pursuant to BBVA’s request on September 4, 2025. Such relief permits, subject to certain enumerated
conditions set forth in the relief letter, BBVA and certain of its affiliates to continue to engage in the following specified activities involving BBVA shares and BBVA ADSs during the Regulation M Restricted Period: (1) engaging in trades in BBVA
shares for their own account and the accounts of their customers for the purpose of hedging positions (or adjusting or liquidating existing hedge positions) belonging to them and their customers; (2) providing to customers investment advice and
financial planning guidance which may include information about BBVA shares; (3) engaging in unsolicited brokerage transactions in BBVA shares, BBVA ADSs and derivatives thereon with their customers; (4) trading in BBVA shares and derivatives
thereon as part of their asset management and wealth management activities for the accounts of their customers; (5) engaging in stock borrowing/lending transactions involving BBVA shares; and (6) acquiring BBVA shares and derivatives in connection
with BBVA’s obligations under BBVA’s employee share ownership and incentive share programs and dividend reinvestment plans.

BBVA and certain of its affiliates will continue to engage, including since the announcement of the exchange offer and during the exchange
offer, in various dealing, brokerage and investment advice activities involving BBVA shares and BBVA ADSs when and to the extent permitted by applicable law. Among other things, BBVA and certain of its affiliates, as the case may be, intend to
engage in some or all of the activities specified above. These market activities have occurred and are expected to continue to occur primarily outside the United States and, to a lesser extent, inside the United States, in each case solely in the
ordinary course of business and not in contemplation of, or with a view to facilitating, the exchange offer.

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Other Jurisdictions

This offer to exchange/prospectus is being addressed to U.S. holders of Banco Sabadell shares. Separate