Company: BBVXF
Filing Date: 2025-09-05
Form Type: F-4/A
Source: 0001193125-25-196513
Chunk: 228

Company: BANCO BILBAO VIZCAYA ARGENTARIA, S.A.
Filing Date: 2025-09-05
Form: F-4/A
Chunk 228
---
SB Sale Dividend. According to the
TSB Sale Inside Information Notice, the TSB Sale is subject to the satisfaction of certain conditions precedent, including the authorization of the TSB Sale by Banco Sabadell’s extraordinary general shareholders’ meeting. On August 6,
2025, extraordinary general shareholders’ meetings of Banco Sabadell (i) authorized the TSB Sale and (ii) approved the payment of the TSB Sale Dividend, respectively. Closing of the TSB Sale is expected to occur in the first quarter of
2026. For additional information on the TSB Sale and the potential consequences of the TSB Sale, see “The Exchange Offer—TSB Sale” and “Risk Factors—Risks Relating to the Exchange Offer—If the exchange offer is
completed and the TSB Sale is consummated, TSB will, following consummation of the TSB Sale, no longer be part of the BBVA Group. Additionally, the exchange ratio for the exchange offer would be adjusted as a result of the payment of the TSB Sale
Dividend only if the ex-dividend date occurs prior to the date of publication of the results of the exchange offer in the Official Quotation Bulletins. Given that, according to the TSB Sale Inside Information Notice, the closing of the TSB
Sale is expected to occur in the first quarter of 2026, the exchange ratio is not expected to be adjusted as a result of the payment of the TSB Sale Dividend”, respectively.

BBVA provides no assurance that the TSB Sale will be consummated despite the approval of the extraordinary general shareholders’ meeting
of Banco Sabadell. In addition to unforeseen developments that could prevent the TSB Sale from closing, the TSB Sale is subject to certain closing conditions, all of which must be satisfied by July 1, 2026. As indicated in the TSB Sale Inside
Information Notice, if such closing conditions have not been satisfied by July 1, 2026, Banco Sabadell and Banco Santander, S.A. may, acting in good faith and by mutual agreement, extend the maximum period for closing the TSB Sale. In the absence of
such agreement, the sale and purchase agreement relating to the TSB Sale will be terminated and the TSB Sale will not be

162

consummated. BBVA does not intend to take any action in opposition to the approval of the TSB Sale by the extraordinary general shareholders’ meeting of Banco Sab