Company: BBVXF
Filing Date: 2025-09-08
Form Type: 425
Source: 0001193125-25-198316
Chunk: 19

Company: BANCO BILBAO VIZCAYA ARGENTARIA, S.A.
Filing Date: 2025-09-08
Form: 425
Chunk 19
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 BBVA will review Banco Sabadell’s shareholder remuneration policy after the settlement of the Offer and will consider promoting the corresponding changes, taking into account multiple factors that must be analyzed at the time of such review and, where appropriate, decision (such as, the position in the capital of Banco Sabadell, its prospects for growth in activity, forecasts for profitability and profits, etc.). This is why BBVA has no plans or intentions regarding the future shareholder remuneration policy, which will be determined after the completion of this review. In this regard, the pay-outratio of Banco Sabadell’s shareholder remuneration policy after the settlement of the Offer may be lower, equal to or higher than that currently established and indicated in this section.

| (ii) | Sabadell’s Extraordinary Dividend |

As indicated above, the Extraordinary General Meeting of Shareholders of Banco Sabadell held on August 6, 2025, at 1:00 p.m. approved the distribution of Sabadell’s Extraordinary Dividend at a rate of €0.50 (gross) for each Banco Sabadell share entitled to receive it, charged to freely available voluntary reserves and subject to the execution of the TSB Sale Transaction. with the expectation that the payment will be made on the last business day of the month following the collection of the price of the TSB Sale Transaction (not exceeding a period of 12 months from the date of approval of the resolution by the Extraordinary General Meeting of Shareholders). In any event, even if it has been approved by the Extraordinary General Meeting of Shareholders of Banco Sabadell, there is no certainty that Sabadell’s Extraordinary Dividend will actually be distributed, since it is subject to the consummation of the TSB Sale Transaction and, as explained in section IV.4.1 of the Prospectus, there is no certainty that it will be completed. BBVA does not intend to take any action to oppose the resolution of the Extraordinary General Meeting of Shareholders of Banco Sabadell to approve the Extraordinary Dividend of Sabadell.

| 9.7.2. | BBVA’s shareholder remuneration policy |

The shareholder remuneration policy approved by BBVA’s Board of Directors consists of the annual distribution of between 40% and 50% of consolidated ordinary profit for each year. This policy is normally implemented through the distribution of an interim amount of the dividend for the year (which is expected to