Company: BBVXF
Filing Date: 2025-04-29
Form Type: 6-K
Source: 0000842180-25-000023
Chunk: 61

Company: BANCO BILBAO VIZCAYA ARGENTARIA, S.A.
Filing Date: 2025-04-29
Form: 6-K
Chunk 61
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 acquisition of control of TSB Bank PLC, the Target Company’s banking subsidiary in the United Kingdom, as a result of the Exchange Offer.

On September 5, 2024, BBVA announced that it received the decision of non-opposition from the European Central Bank to BBVA’s taking control of the Target Company, as a result of the Exchange Offer.

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On November 12, 2024, the Spanish antitrust authorities announced their decision that further review of the economic concentration resulting from the Exchange Offer would be required, extending antitrust review into a second phase.

The detailed terms of the Exchange Offer will be set out in the Spanish prospectus (which was submitted together with the Exchange Offer request to the CNMV for their authorization on May 24, 2024 and will be published after obtaining CNMV Clearance) and the relevant U.S. offer to exchange/prospectus.

BBVA estimates a negative impact on the BBVA Group’s CET1 capital of 51 basis points as of December 31, 2024, including restructuring costs (or approximately 27 basis points excluding such costs, net of taxes and dividends and related prudential deductions) if the Exchange Offer were accepted by holders of the Target Company’s shares representing 100% of the share capital of the Target Company. These estimated impacts have been prepared by BBVA taking into consideration the dividend payments made by the Target Company and BBVA on October 1, 2024 and March 28, 2025 as well as October 10, 2024 and April 10, 2025, respectively.

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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 expected to significantly impact the asset management and retail investment services sectors during 2025. In particular: (i) the European Securities and Markets Authority (“

#### ESMA
”) published the Guidelines on Funds' Names Using ESG or Sustainability-Related Terms in August 2024, which became effective on November 21, 2024. Asset managers are required to adapt the names of investment funds under their management as of that date—or, alternatively, adjust the investment policies of those funds—by May 21, 2025; and