Company: BBVXF
Filing Date: 2025-09-05
Form Type: F-4/A
Source: 0001193125-25-196513
Chunk: 237

Company: BANCO BILBAO VIZCAYA ARGENTARIA, S.A.
Filing Date: 2025-09-05
Form: F-4/A
Chunk 237
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 system on the date that the announcement is made. BBVA will also make an “other relevant information” filing with the CNMV in Spain.

Furthermore, BBVA has requested that the SEC provide no-action relief with respect to
Rule 14d-4(d)(2) under the Exchange Act. Rule 14d-4(d)(2)(i) under the Exchange Act requires that, in the event of a material change other than price or share levels, an exchange offer must remain open
for at least five U.S. business days from the date that the related material changes to the exchange offer materials are disseminated to security holders. The SEC has held that a waiver of a minimum acceptance condition is a material change in
the terms of an offer.

The SEC granted BBVA relief pursuant to BBVA’s request on September 2, 2025. Such relief permits BBVA
to, following the expiration date of the exchange offer, waive the Minimum Acceptance Condition in accordance with Spanish law and practice (i.e., through the first Spanish stock exchange business day following the date on which BBVA receives the
CNMV Notification) in the event that the Minimum Acceptance Condition has not been satisfied as of the end of the acceptance period, without extending the acceptance period or providing withdrawal rights in connection with any such waiver. Such
relief is conditioned upon BBVA’s undertaking not to waive the Minimum Acceptance Condition if the number of Banco Sabadell shares tendered and not withdrawn in the exchange offer would not permit BBVA to acquire at least 30% of the voting
rights of the Banco Sabadell shares (excluding any treasury shares held by Banco Sabadell as of that time).

Additionally, BBVA has
requested that the SEC provide no-action relief with respect to Rule 14d-7 under the Exchange Act and Section 14(d)(5) of the Exchange Act, so that BBVA may rely, if necessary, on Rule 162 under the Securities Act. Rule 162 under the Securities
Act permits an offeror to

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commence an exchange offer (often referred to as “early commencement”) before the registration statement relating to the offeror’s securities is declared effective if the offer
is subject to Rule 13e-4 or Rules 14d-1 through 14d-11 under the Exchange Act or if, among other things, the offeror provides withdrawal rights to the same extent as would be required if the exchange offer were subject to the requirements of
Rules