Company: BBVXF
Filing Date: 2025-01-08
Form Type: 424B5
Source: 0001193125-25-003393
Chunk: 73

Company: BANCO BILBAO VIZCAYA ARGENTARIA, S.A.
Filing Date: 2025-01-08
Form: 424B5
Chunk 73
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 affiliate of the Conversion Shares Depository in connection with the holding by the Conversion Shares Depository of any Common Shares
and any amount received in respect thereof shall be deducted by the Conversion Shares Depository from such amount prior to the delivery of such Common Shares and payment of such amount to the relevant holder.

Further, upon conversion of your Preferred Securities into Common Shares, you may have to comply with certain approval and/or disclosure
requirements pursuant to Spanish laws and regulations or the laws and regulations of any other jurisdiction in which the Common Shares are then listed. See “Description of BBVA Ordinary Shares—Reporting Requirements” and
“—Restrictions on Acquisitions of Ordinary Shares” in the accompanying prospectus. Non-compliance with such approval and/or disclosure requirements may lead to the incurrence by holders
of substantial fines and/or suspension of voting rights associated with the Common Shares.

Moreover, a holder receiving Common Shares may
have to make a takeover bid addressed to the shareholders of BBVA pursuant to the LMV and Royal Decree 1066/2007 of July 27, on the rules governing takeover bids for securities (Real Decreto 1066/2007, de 27 de julio, sobre el régimen de las ofertas públicas de adquisición de valores) if (i) its aggregate holding in BBVA is equal to or exceeds 30% of the available voting rights or (ii) its aggregate holding in BBVA is less than 30% of such
voting rights but, within 24 months of the date on which it acquired that lower percentage, it nominates a number of directors that, when taken together with any directors it has previously nominated, represent more than half of the members of
BBVA’s management body, in each case as a result of the conversion of the Preferred Securities into Common Shares.

Holders will bear the risk of fluctuations in the price of the Common Shares.

The market price of the Preferred Securities is expected to
be affected by fluctuations in the market price of the Common Shares, and it is impossible to predict whether the price of the Common Shares will rise or fall. Market prices of the Common Shares will be influenced by, among other things, the
financial position of the BBVA Group, its results of operations and political, economic, financial and other factors. Any decline in the market price of the Common Shares may have an adverse effect on the market price of the Preferred Securities.
The level of the CET1 ratio specified in the definition of Trigger Event may also significantly affect