Company: BBVXF
Filing Date: 2025-08-12
Form Type: DRS
Source: 0000950123-25-007520
Chunk: 239

Company: BANCO BILBAO VIZCAYA ARGENTARIA, S.A.
Filing Date: 2025-08-12
Form: DRS
Chunk 239
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 with representatives from both entities, with the

161

As confidentially submitted to the Securities and Exchange Commission on August 11, 2025.

This Amendment No. 4 has not been publicly filed with the Securities and Exchange Commission and all

information herein remains strictly confidential.

objective of designing the best integration process seeking to maximize the talent of both entities. In the integration process, BBVA will respect the principles of merit and professional
capacity, implementing measures agreed between the two entities, which are not expected to primarily adversely affect the employees of one of the entities.

BBVA will initiate a consultation process with the workers’ representatives in order to minimize the impact of the adjustment,
prioritizing, as much as possible, voluntary departures and relocations. Likewise, during the consultation period with the workers’ representatives, BBVA plans to initiate negotiations in order to align the human resources policies of both
entities, which could imply changes to the working conditions of employees and executives of Banco Sabadell.

Plans Regarding the Use or Disposal of Assets of Banco Sabadell and Expected Variations in its Net Financial Debt

Plans Regarding the Use or Disposal of Assets of Banco Sabadell

BBVA does not have any plans with respect to the use or disposal of Banco Sabadell’s assets. Any such decision
will be analyzed following completion of the exchange offer, in compliance with applicable law and the Council of Ministers’ Authorization. While the Autonomy Condition of the Council of Ministers’ Authorization remains in effect, any
decision with respect to the potential rationalization or optimization of Banco Sabadell’s branch network would be adopted by the board of directors of Banco Sabadell autonomously and independently, seeking to maximize the value of Banco
Sabadell as an independent entity.

Following the No-merger Period (the length of which could be shortened if the Autonomy Condition is
declared void as a result of the Administrative Appeal), BBVA estimates that it would be possible to rationalize the group’s branch network in Spain, with such rationalization being limited to less than 10% of the combined network. Such
rationalization would result in the closure of approximately 300 of the 683 branch offices within a proximity of less than 300 meters identified in the combined group network.

Additionally, on July 1, 2025, Banco Sabadell published the TSB Sale Inside Information Notice, informing that it had received a binding offer
for the consummation of the TSB Sale, and announcing its decision