Company: BBVXF
Filing Date: 2025-09-05
Form Type: 425
Source: 0001193125-25-196725
Chunk: 12

Company: BANCO BILBAO VIZCAYA ARGENTARIA, S.A.
Filing Date: 2025-09-05
Form: 425
Chunk 12
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 for Banco Sabadell as disclosed by Banco Sabadell in their Capital Markets Day 2025 presentation and 12 €Bn for BBVA as the average net income for the period 2025-2028 as discussed during the 2Q’25 earnings webcast call. The total shares outstanding for the combined entity assumes that (a) the 1 €Bn share buyback announced by BBVA in Apr’25 is executed post closing of the voluntary tender offer and (b) that the capital generated from the TSB sale and extraordinary dividend is reinvested in shares of the combined entity. p. 21 p. 21 Numbers consider a 100% take-up and a price for BBVA of 15.81€/Sh. (Sep 4, 2025).

POSITIVE FINANCIAL IMPACTS 5 Highly Attractive Returns for BBVA Shareholders with Limited Capital Impact Estimated Transaction Limited Capital Impact at Closing and Positive 1 1 Impact on CET1% After TSB Sale and Extraordinary Dividend +259 bps -226 bps 100% VTO -34 bps +26 bps Take-up Closing AT CLOSING AFTER TSB SALE & EXTRAORDINARY DIVIDEND 50% -49 bps -12 bps Take-up -52 bps +60 bps 2 Incremental ROIC for BBVA Shareholders -15 bps After TSB Sale and Extraordinary Dividend Banco Intangible Regulatory TSB Sale + Capital increase + assets Deductions Badwill/Goodwill Sabadell Extraordinary % Dividend Impact RWAs >20 (1) As of 1H’25. No potential impact from Asset Management and Custody Services agreements included. Penalties due to change of ownership and fair value adjustments for existing stakes in Insurance joint ventures are included. The capital consumption assumes 100% take-up. (2) ROIC: 'Return on Invested Capital' calculated based on marginal net income including synergies fully phased-in post-tax for BBVA shareholders in the numerator and capital consumption plus restructuring costs (post-tax) and capital expenditures (post-tax) in the denominator. This calculation also assumes the execution of a share buyback after the sale of TSB and p. 22 p. 22 the extraordinary dividend. Unless indicated otherwise, the metrics assume 100% take-up and a price for BBVA of 15.81€/Sh. (Sep 4, 2025).

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