Company: BBVXF
Filing Date: 2025-08-12
Form Type: DRS
Source: 0000950123-25-007520
Chunk: 9

Company: BANCO BILBAO VIZCAYA ARGENTARIA, S.A.
Filing Date: 2025-08-12
Form: DRS
Chunk 9
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 purpose of creating actual, or apparent, active trading in,
or maintaining, or affecting the prices of the Banco Sabadell Securities.

For a description of the trading activities included within the
scope of the SEC’s relief, see “The Exchange Offer—Relief Requested from the SEC—Tender Offer Rules Exemptive and No-Action Relief”.

The BBVA Prospective Purchasers intend to effect such purchases in the ordinary course of their businesses in reliance on the relief granted
by the SEC, subject to the conditions imposed by the SEC and otherwise in accordance with applicable law.

Rule 14e-1 relief

Pursuant to exemptive relief granted on , 2025 by the SEC from Rule 14e-1(b) under the Exchange Act, and subject to
certain enumerated conditions set forth in the relief letter, BBVA may adjust the share consideration offered in the exchange offer if Banco Sabadell makes any distributions of dividends, reserves or any other type of distribution to its
shareholders (regardless of whether it is an ordinary, extraordinary, interim or complementary distribution) prior to the settlement of the exchange offer, provided that the publication of the results of the exchange offer in the Official
Quotation Bulletins is made on the same day or after the ex-dividenddate of such distribution of dividends, reserves or any other type of distribution, as described under “The Exchange Offer—Consideration”, without extending
the acceptance period by 10 U.S. business days as required by Rule 14e-1(b). If the share exchange offered as consideration in the exchange offer is adjusted as described under “The Exchange Offer—Consideration”, BBVA will disseminate
an announcement of such adjustment through a press release and will file such announcement with the SEC via the EDGAR filing system on the date that the announcement is made. BBVA will also make an “other relevant information” filing with
the CNMV (as defined herein) in Spain.

For additional information, see “The Exchange Offer—Relief Requested from the
SEC—Tender Offer Rules Exemptive and No-Action Relief”.

Rule 14d-4(d)(2) relief

Pursuant to exemptive relief granted on , 2025 by the SEC from Rule 14d-4(d)(2) under the Exchange Act, BBVA may,
following the expiration date of the exchange offer, waive the Minimum Acceptance Condition (as defined herein) in accordance with Spanish law and practice (i.e