Company: BBVXF
Filing Date: 2025-10-30
Form Type: 6-K
Source: 0001628280-25-047437
Chunk: 65

Company: BANCO BILBAO VIZCAYA ARGENTARIA, S.A.
Filing Date: 2025-10-30
Form: 6-K
Chunk 65
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 May 9, 2024, BBVA announced, through the publication of an inside information notice ( información privilegiada ), the decision to launch an exchange offer (the “Exchange Offer”) for the entire share capital of Banco de Sabadell, S.A. The Exchange Offer ceased to be in effect on October 16, 2025, following the publication of its outcome by the CNMV, as the minimum acceptance condition established by BBVA was not met.

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#### Regulatory Update for Spain
The below summary includes certain updates to the information included in “Item 4. Information on the Company—Business Overview—Supervision and Regulation—Principal Markets—Spain ” in our 2024 Form 20-F.

#### Investment Services
Several sustainability initiatives within the European Union are shaping the asset management and retail investment services sectors during 2025. In particular:

• the European Securities and Markets Authority (“

#### ESMA
”) Guidelines on the use of ESG- or sustainability-related terms in fund names: Pursuant to the guidelines, asset managers were required to adapt the names of investment funds under their management—or, alternatively, adjust the investment policies of those funds—by May 21, 2025. BBVA completed the required review of the relevant funds in the EU ahead of the May 21, 2025 deadline. Where necessary, funds either (i) adapted their investment policies or (ii) simplified their names; in most cases the latter involved removing generic “ESG” wording. The exercise was concluded without material impact on product strategy, client positioning or commercial flows.

• Proposed EU simplification of the Corporate Sustainability Reporting Directive (“

#### CSRD
”): in February 2025 the Commission’s “Simplification Omnibus” package proposed limiting CSRD’s scope to large undertakings that employ more than 1,000 people. The Council endorsed this approach on June 23, 2025, and trilogue negotiations are scheduled for after the summer recess. Because the Spanish transposition bill has been put on hold while the final EU thresholds are agreed, BBVA asset managers are not yet required to apply CSRD reporting to financial year 2025; whether they will fall within the scope of CSRD in the future (which would trigger certain reporting requirements) will depend on the thresholds ultimately adopted. Should the CSRD’s scope be reduced, the amount of corporate-sustainability data available in the market is expected to shrink, which could in turn hamper