Company: BBVXF
Filing Date: 2025-02-27
Form Type: F-4/A
Source: 0001193125-25-037317
Chunk: 13

Company: BANCO BILBAO VIZCAYA ARGENTARIA, S.A.
Filing Date: 2025-02-27
Form: F-4/A
Chunk 13
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 to one newly-issued BBVA share and €0.29 in cash for each 5.0196 Banco Sabadell shares tendered and not withdrawn. On January 30, 2025, BBVA announced a dividend of €0.41 per BBVA share payable on April 10, 2025, which is subject to approval by BBVA’s general shareholders’ meeting. Such dividend, when paid, will result in a corresponding change in the exchange offer cash consideration. The purpose of the exchange offer cash consideration is to provide tendering holders of Banco Sabadell shares with an amount equivalent to the aggregate amount of all distributions of dividends, reserves or any other type of distributions made to shareholders of BBVA after the date of the publication of BBVA’s announcement of its intention to make the exchange offer but prior to the settlement of the exchange offer or, if applicable, after the settlement of the exchange offer but before the settlement of a subsequent squeeze-out transaction. As a result, tendering holders of Banco Sabadell shares will receive this equivalent amount once they become shareholders of BBVA.

| Q. | If I tender my Banco Sabadell shares into the exchange offer, what upcoming dividends of Banco Sabadell and 
 BBVA will I receive?                                                                                        |

| A. | If you tender, and do not withdraw, your Banco Sabadell shares into the exchange offer and the exchange offer                                                                                                                                             
 is completed, you will receive BBVA shares in exchange for your Banco Sabadell shares. As a holder of BBVA shares you will be entitled to receive any dividends paid to BBVA shareholders following the settlement of the exchange offer. BBVA’s          
 current dividend policy involves distributing between 40% and 50% of its consolidated net attributable profit annually, combining cash dividends and share buy-backs. BBVA is committed to distributing capital in excess of what is required to maintain 
 a 12% CET1 ratio (subject to any restrictions imposed by, and the approval of, relevant supervisory bodies and BBVA’s corporate bodies, as applicable).                                                                                                   |

If you do not participate in the exchange offer, you will continue to hold your Banco Sabadell shares and therefore you will continue to be entitled to receive any dividends paid on your Banco Sabadell shares by Banco Sabadell. BBVA intends to review Banco Sabadell’s shareholder remuneration policy following completion of the exchange offer. 5

| Q. | How do I tender my Banco Sabadell shares in the exchange offer