Company: BBVXF
Filing Date: 2025-08-12
Form Type: DRS
Source: 0000950123-25-007520
Chunk: 226

Company: BANCO BILBAO VIZCAYA ARGENTARIA, S.A.
Filing Date: 2025-08-12
Form: DRS
Chunk 226
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 the
symbol “BVA” and the Mexican Stock Exchange under the symbol “BBVA”.

It is expected that the newly-issued BBVA shares
will be admitted to trading on the Spanish Stock Exchanges within a maximum period of two Spanish stock exchange business days from the registration of such shares as book entries in Iberclear and its participating entities.

BBVA undertakes to make its best efforts to execute the share capital increase, the settlement of the exchange offer and the subsequent
admission to trading on the Spanish Stock Exchanges of the newly-issued BBVA shares, as promptly as possible, which is expected to take place within a maximum period of 14 Spanish stock exchange business days following the publication of the results
of the exchange offer. Any delay, including the reasons for such delay, will be communicated by BBVA through a relevant information notice.

NYSE

BBVA ADSs are listed on the NYSE under the symbol “BBVA”. Each BBVA ADS represents the right to receive one BBVA share.
Please also see “—BBVA ADSs” in this offer to exchange/prospectus.

Appraisal Rights

The holders of Banco Sabadell shares are not entitled under Spanish law or otherwise to appraisal rights with respect to the exchange offer.

Certain Legal and Regulatory Matters

Except as otherwise disclosed herein, BBVA is not aware of any other material regulatory approvals or other regulatory actions required for
completion of the exchange offer. Should any such approval or other action be required, BBVA currently contemplates that such approval or other action will be sought.

153

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.

Certain Consequences of the Exchange Offer

Trading in Banco Sabadell Shares During and After the Exchange Offer

Following completion of the exchange offer, Banco Sabadell shares not tendered into the exchange offer will continue to trade on the Spanish
Stock Exchanges. However, if the requirements set forth in articles 116 of the Securities Market Law and 47 of the Spanish Takeover Regulation are met, then BBVA will exercise its right to demand the
squeeze-out of the remaining Banco Sabadell shares at the same consideration (including the share consideration and the exchange offer cash consideration) as offered pursuant to the exchange offer (adjusted,
as the case may be, as described in this offer to exchange/prospectus). See “—S