Company: BBVXF
Filing Date: 2025-09-29
Form Type: 425
Source: 0001193125-25-223004
Chunk: 3

Company: BANCO BILBAO VIZCAYA ARGENTARIA, S.A.
Filing Date: 2025-09-29
Form: 425
Chunk 3
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 project that is already a European leader in profitability, already a leader in growth across Europe, a project that, through this integration, has the potential to generate even greater value together.

This is value that Banco Sabadell shareholders would benefit from through a 41 percent increase in earnings per share, which then determines
dividends per share. Ultimately, it means getting on board a project that will provide a much stronger source of future dividends than the alternative—which would be not to tender their shares and remain shareholders of a far smaller Banco
Sabadell, especially now, after the sale of TSB. It would be a less diversified bank, one with all its eggs in a single basket following the TSB sale. And that’s the comparison they need to make, in a context where Europe increasingly requires
banks with the necessary scale and efficiency to meet the challenges ahead.

I’d also say to those shareholders who are also Banco Sabadell
retail customers that the merger will give them access to a branch network more than twice the size of what they have today, an ATM network nearly three times as large, and, of course, the same relationship managers as always, offering the same
level of proximity and personal service.

p. 2

And to those who are SME clients, I would additionally point out—and remind them of—BBVA’s
commitment to maintaining existing credit for five years, a commitment no one else could give.

I would urge all Banco Sabadell shareholders, whether they are
customers or not, to accept our exceptionally appealing offer. The time is now, and until October 10. There’s no time to lose: don’t leave it to the last minute. Our doors are open to receive their acceptances—free of charge and
with every convenience—at any of our branches, over the phone, or through digital channels.

p. 3

IMPORTANT INFORMATION FOR INVESTORS

In connection with the proposed transaction, Banco Bilbao Vizcaya Argentaria, S.A. has filed with the U.S. Securities and Exchange Commission
(the “SEC”) a Registration Statement on Form F-4 that includes an offer to exchange/prospectus (the “Registration Statement”). INVESTORS AND SECURITY HOLDERS ARE URGED TO READ THE REGISTRATION
STATEMENT, OFFER TO EXCHANGE/PROSPECTUS AND ALL OTHER RELEVANT DOCUMENTS THAT HAVE BEEN OR WILL BE FILED WITH THE SEC REGARDING THE PROPOSED TRANSACTION WHEN THEY BECOME AVAILABLE BECA