Company: BBVXF
Filing Date: 2025-02-27
Form Type: F-4/A
Source: 0001193125-25-037317
Chunk: 45

Company: BANCO BILBAO VIZCAYA ARGENTARIA, S.A.
Filing Date: 2025-02-27
Form: F-4/A
Chunk 45
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isting from the Spanish Stock Exchanges if BBVA obtains the percentage of voting rights required to exercise its squeeze-outright. If the requirements set forth in articles 116 of the Securities Market Law and 47 of the Spanish Takeover Regulation are met, which would require that (i) the exchange offer is accepted by holders of Banco Sabadell shares representing at least 90% of the Banco Sabadell shares subject to the exchange offer; and (ii) following completion of the exchange offer, BBVA holds a number of Banco Sabadell shares representing at least 90% of the voting rights in Banco Sabadell’s share capital (excluding, in each case, any treasury shares held by Banco Sabadell), BBVA will exercise its right to demand the squeeze-outof 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). To this effect, within the three Spanish stock exchange business days following the publication of the results of the exchange offer on the website of the CNMV, BBVA will communicate to the CNMV and publicly announce whether or not the requirements to execute a squeeze-outtransaction have been met. In that announcement, or within the two following Spanish stock exchange business days, BBVA will announce the date of the squeeze-outtransaction. In

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accordance with article 48.4 of the Spanish Takeover Regulation, such date will be fixed between the 15 and the 20 Spanish business day following the date of such announcement. Such decision will be irrevocable. Upon settlement of such squeeze-out transaction, the Banco
Sabadell shares will be automatically delisted from the Spanish Stock Exchanges.

Notwithstanding the above, if the exchange offer is
completed, regardless of the percentage of Banco Sabadell shares acquired by BBVA pursuant to the exchange offer, BBVA intends to promote, after the settlement of the exchange offer, and irrespective of whether the thresholds provided for in
articles 116 of the Spanish Securities Market Law and 47 of the Spanish Takeover Regulation for the exercise of the right of squeeze-out are met, subject to market conditions or other circumstances making it
inadvisable to carry out such merger process or carry out such merger process on such terms, a merger by absorption of Banco Sabadell by BBVA, with an exchange ratio equivalent, as far as possible,