Company: BBVXF
Filing Date: 2025-07-31
Form Type: F-3ASR
Source: 0001193125-25-170429
Chunk: 135

Company: BANCO BILBAO VIZCAYA ARGENTARIA, S.A.
Filing Date: 2025-07-31
Form: F-3ASR
Chunk 135
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 of such Securities or upon the exercise of such rights of subscription, purchase or acquisition attached thereto at the modified conversion,
exchange, subscription, purchase or acquisition price or rate but giving credit in such manner as an Independent Financial Adviser in good faith shall consider appropriate for any previous adjustment under this
sub-paragraph (h) or sub-paragraph (g) above;

provided that if at the Effective Date such number of Common Shares is to be determined by reference to the application of a formula or other
variable feature or the occurrence of any event at some subsequent time (which may be when such Securities are converted or exchanged or rights of subscription, purchase or acquisition are exercised or at such other time as may be provided) then for
the purposes of this

91

sub-paragraph(h), “C” shall be determined by the application of such formula or variable feature or as if the relevant event occurs or had occurred as at the Effective Date and as if such conversion, exchange, subscription, purchase or acquisition had taken place on the Effective Date. Such adjustment shall become effective on the Effective Date. “Effective Date” means, in respect of this sub-paragraph(h), the date of modification of the rights of conversion, exchange, subscription, purchase or acquisition attaching to such Securities. (i) If and whenever BBVA or any member of the BBVA Group or (at the direction or request of or pursuant to any arrangements with BBVA or any member of the BBVA Group) any other company, person or entity shall offer any Securities in connection with which the Shareholders as a class are entitled to participate in arrangements whereby such Securities may be acquired by them (except where the Floor Price falls to be adjusted under sub-paragraphs(b), (c), (d), (e) or (f) above or sub-paragraph(j) below (or would fall to be so adjusted if the relevant issue or grant was at less than 95% of the Current Market Price per Common Share on the relevant dealing day under sub-paragraph(e) above)) the Floor Price shall be adjusted by multiplying the Floor Price in force immediately before the Effective Date by the following fraction: A – B A where: A is the Current Market Price of one Common Share on the Effective Date; and B is the Fair Market Value on the Effective Date of the portion of the relevant offer attributable to one Common Share. Such adjustment shall become effective on the Effective Date. “Effective Date” means, in respect of this sub-paragraph(i), the first date on which the