Company: BBVXF
Filing Date: 2025-08-12
Form Type: DRS
Source: 0000950123-25-007520
Chunk: 104

Company: BANCO BILBAO VIZCAYA ARGENTARIA, S.A.
Filing Date: 2025-08-12
Form: DRS
Chunk 104
---
 Acceptance Scenario, respectively) |     |             |   (630 | ) |     |            |   (315 | ) |
| Dividends paid to shareholders of Banco Sabadell after June 30, 2025 (corresponding to €0.07                                                                                             
 per Banco Sabadell share and a total number of Banco Sabadell shares of 4,997 million)                                                                                                   |     |             |   (350 | ) |     |            |   (350 | ) |
| Execution of Banco Sabadell Share Buy-Back Programs (after June 30, 2025 and through                                                                                                     
 August 1, 2025 based on information published by Banco Sabadell on August 4, 2025)                                                                                                       |     |             |   (362 | ) |     |            |   (362 | ) |
| Combined pro forma cash, cash balances in central banks and other demand deposits                                                                                                        |     |             | 65,033 |   |     |            | 65,349 |   |

63

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.

| (***) | Goodwill: |

The value of goodwill from previous business combinations broken down in the condensed consolidated interim financial statements of Banco Sabadell as of and for the six months ended June 30, 2025 does not represent an identifiable asset that would be acquired upon completion of the exchange offer according to IFRS 3 “Business Combinations”. Accordingly, this value must be removed from the acquiring entity’s balance sheet before calculating the goodwill resulting from completion of the exchange offer. The negative adjustments made in the event of completion of the exchange offer under both the Full Acquisition Scenario and the 50% Acceptance Scenario amount to €1,018 million. Additionally, based on financial information as of June 30, 2025, and taking into account the pro forma adjustments described in this section, the difference between the consideration offered and total equity as of June 30, 2025 would provisionally result in goodwill of €412 million in the Full Acquisition Scenario and €206 million in the 50% Acceptance Scenario, reflected in the combined unaudited condensed consolidated pro forma income statement and as shown in the below table:

|                                                                                                                |     | Full        
 Acquisition 
 Scenario    |        |   |