Company: BBVXF
Filing Date: 2025-09-09
Form Type: 424B3
Source: 0001193125-25-198517
Chunk: 9

Company: BANCO BILBAO VIZCAYA ARGENTARIA, S.A.
Filing Date: 2025-09-09
Form: 424B3
Chunk 9
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or adjusting or liquidating existing hedge positions) belonging to them and their customers; (ii) to provide to customers investment advice and
financial planning guidance which may include information about BBVA shares; (iii) to engage in unsolicited brokerage transactions in BBVA shares, BBVA ADSs and derivatives thereon with their customers; (iv) to trade in BBVA shares and derivatives
thereon as part of their asset management and wealth management activities for the accounts of their customers; (v) to engage in stock borrowing/lending transactions involving BBVA shares; and (vi) to acquire BBVA shares and derivatives in
connection with BBVA’s obligations under BBVA’s employee share ownership and incentive share programs and dividend reinvestment plans. 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.

For additional information, see “The Exchange Offer—Relief Requested from the SEC—Regulation M Exemptive Relief”.

2

QUESTIONS AND ANSWERS ABOUT THE PROPOSED EXCHANGE OFFER The summary term sheet in question-and-answerformat set forth below highlights selected information about the exchange offer that is included elsewhere in this offer to exchange/prospectus. It does not, however, contain all of the information included in, or incorporated by reference into, this offer to exchange/prospectus and you should read and consider all such information carefully before deciding whether or not to tender your Banco Sabadell shares into the exchange offer.

| Q. | Who is offering to acquire my Banco Sabadell shares? |

| A. | The exchange offer is being undertaken by BBVA, the parent company of the BBVA Group. The BBVA Group is a                                                                                                                                             
 customer-centric global financial services group founded in 1857. Internationally diversified and with strengths in retail banking, asset management and wholesale banking, the BBVA Group is committed to offering a compelling digital proposition  
 focused on customer experience. BBVA has a leadership position in the Spanish market, it is the largest financial institution in Mexico in terms of assets, it has leading franchises in South America, and it is the majority shareholder in Garanti 
 BBVA, Turkey’s largest bank in terms of market capitalization. The BBVA Group had consolidated assets of €776,974 million and €772,402 million as of June 30,