Company: BBVXF
Filing Date: 2025-07-31
Form Type: F-3ASR
Source: 0001193125-25-170429
Chunk: 63

Company: BANCO BILBAO VIZCAYA ARGENTARIA, S.A.
Filing Date: 2025-07-31
Form: F-3ASR
Chunk 63
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 unconditional, unsubordinated and unsecured obligations of BBVA and, upon the insolvency (concurso de acreedores) of BBVA, in accordance with and only to the extent permitted by the Insolvency Law and any other applicable laws relating to or affecting the enforcement of creditors’ rights in Spain (including, without limitation, Additional
Provision 14 of Law 11/2015), but subject to any other ranking that may apply as a result of any mandatory provision of law (or otherwise), the payment obligations of BBVA under the senior non-preferred notes
with respect to claims for principal (which claims will constitute ordinary claims) will rank: (i) junior to any (a) privileged claims (créditos privilegiados) (which shall include, among other claims, any claims in respect
of deposits for the purposes of Additional Provision 14.1 of Law 11/2015), (b) claims against the insolvency estate (créditos contra la masa), and (c) Senior Preferred Obligations; (ii)pari passu without any
preference or priority among themselves and with all other Senior Non-Preferred Obligations; and (iii) senior to all subordinated obligations of, or claims against, BBVA (créditos subordinados), present and future, such that any relevant claim on account of principal in respect of such senior non-preferred notes will be satisfied, as appropriate, only to the extent that all claims
ranking senior to it have first been satisfied in full, and then pro rata with any claims rankingpari passuwith it, in each case as provided herein.

“ordinary claims” means the class of claims with respect to unsecured, non-privileged and
unsubordinated obligations (créditosordinarios) of BBVA which, upon the insolvency (concursodeacreedores) of BBVA and pursuant to the Insolvency Law and other applicable laws relating
to or affecting the enforcement of creditors’ rights in Spain, rank (i) junior to privileged claims (créditosprivilegiados) (which shall include, among other claims, any claims in respect of
deposits for the purposes of Additional Provision 14.1 of Law 11/2015 and any secured claims), and claims against the insolvency estate (créditoscontra la masa) and (ii) senior to subordinated claims
(créditossubordinados).

“Senior Non-Preferred
Obligations”