Company: BBVXF
Filing Date: 2025-09-29
Form Type: 425
Source: 0001193125-25-223004
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Company: BANCO BILBAO VIZCAYA ARGENTARIA, S.A.
Filing Date: 2025-09-29
Form: 425
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Filed by Banco Bilbao Vizcaya Argentaria, S.A.

Pursuant to Rule 425 under the Securities Act of 1933

Subject Company: Banco de Sabadell, S.A.

Commission File
No.: 333-281111

Transcript of the interview of Carlos

Torres Vila and Agencia EFE

[Intranet filing, September 2025]

It’s an
exceptional offer. It was from the start, with a very significant premium – much higher, much greater than those of other successful transactions in Europe. And with the improved offer, even more so.

There’s also the increase in the value of our shares since it’s a share-based offer. If we look at the offer today, the value is more than
60 percent higher than the value when we first announced it. And it’s not just about the value of the offer. It values Sabadell at an all-time high, at a peak: €17 billion in value and a share price of €3.39.

When we began this process, in the initial discussions, Sabadell was trading at €1.45. €1.45 compared to €3.39, the value of the offer, as of last Monday. And beyond the offer itself, it is also attractive for Sabadell shareholders,
who are being invited to join us. We are inviting them to become part of a project with the highest profitability and growth in Europe, and therefore, a project that creates value.

We are inviting Sabadell shareholders to take part in the value that we create together. And all of this translates into an earnings per share outlook
that is 41 percent higher for Sabadell shareholders after the merger compared to a standalone Sabadell. We will definitely exceed 50 percent. We are confident of that because of how exceptional this offer is.

Could you tell us what the current acceptance percentage is?

Institutional shareholders have shown widespread support, but their formal acceptance is only reported by the custodians and their international
custodians at the end of the process.

Retail shareholders are already directly accepting the offer. We are not releasing figures yet because they
are very preliminary, given that many of the acceptances are also being processed at other banks and that information has yet to arrive. But I can confirm that we are seeing Banco Sabadell shareholders and customers coming in to tender their shares
and accept the offer at BBVA at our branches.

You’ve said you will