Company: BBVXF
Filing Date: 2025-01-08
Form Type: 424B5
Source: 0001193125-25-003393
Chunk: 103

Company: BANCO BILBAO VIZCAYA ARGENTARIA, S.A.
Filing Date: 2025-01-08
Form: 424B5
Chunk 103
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 pro forma financial information is expressed in millions of euros.  |

| (**) | Goodwill of the Target Company: |

| The value of goodwill from previous business combinations broken down in the consolidated financial statements                                                                                                                                  
 of the Target Company as of and for the six months ended June 30, 2024 does not represent an identifiable asset that would be acquired upon completion of the Exchange Offer according to IFRS 3 “Business Combinations”. Accordingly,          
 this value must be removed from the acquiring entity’s balance sheet before calculating the goodwill resulting from completion of the Exchange Offer. The negative adjustments made in the event of an acquisition of 100% and 50.01% of Target 
 Company shares amount to €1,018 million.                                                                                                                                                                                                        |

| (***) | Variation in total equity: |

Acquisition of 100% of Target Company shares Considering the number of Target Company shares outstanding (5,440,221,447 shares, with a par value of €0.125 each), the maximum number of BBVA shares to be issued in exchange for Target Company shares, at the aforementioned exchange ratio, would be 1,083,795,810 BBVA shares, with a par value of €0.49 each. Based on this maximum number of BBVA shares to be issued in the capital increase, the trading price of BBVA shares as of June 30, 2024 and the exchange offer cash consideration, the cost of completing the Exchange Offer would amount to €10,450 million. The actual cost will vary depending on the trading price of BBVA shares upon the settlement of the Exchange Offer. The pro forma adjustments included in the combined unaudited condensed consolidated pro forma balance sheet reflect a capital increase of €531 million, which amount corresponds to the par value of the new BBVA shares to be issued, and an increase in share premium in the amount of €9,919 million, which represents the difference between such trading price and the par value of the BBVA shares to be issued. These adjustments have been recorded under shareholders’ funds (share capital and share premium) in the combined unaudited condensed consolidated pro forma balance sheet. The pro forma adjustments also include the elimination of the Target Company’s net equity attributable to the Target Company as of June 30, 2024 in an amount of €13,928 million (after deducting the dividend paid on October 1, 2024 by the Target Company for an amount of €435 million corresponding to €0.08 euros multiplied by 5