Company: BBVXF
Filing Date: 2025-01-08
Form Type: 424B5
Source: 0001193125-25-003393
Chunk: 107

Company: BANCO BILBAO VIZCAYA ARGENTARIA, S.A.
Filing Date: 2025-01-08
Form: 424B5
Chunk 107
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391 million), other intangible assets (€413 million) and legal contingencies (€9 million), and with respect to liabilities (included under “other liabilities”), own issuances of financial instruments (€(47) million).

| (d) | Own issuances of financial instruments (included under “Financial liabilities at amortized cost”): |

Own issuances of financial instruments include financial instruments that mostly correspond to level 1 in the fair value hierarchy, to the extent their fair value is directly observable in the market. Therefore, the adjustment made in the table above is based on the fair value broken down in the condensed consolidated interim financial statements of the Target Company as of and for the six months ended June 30, 2024. The adjustment corresponding to debt issuances in the event of an acquisition of 100% and 50.01% of Target Company shares amounts to €(156) million. The fair value of these liabilities could fluctuate depending on the evolution of interest rates, the credit risk premium and any changes to the maturity of the instruments. Accordingly, the related adjustment ultimately made upon completion of the Exchange Offer could vary significantly.

| (e) | Contingencies (included under “Other liabilities”) |

The maximum amount of contingencies related to mortgage floor clauses, not covered by provisions, has been estimated at €30 million, as detailed in the consolidated financial statements of the Target Company as of and for the year ended December 31, 2023, as updated information as of June 30, 2024 is not included in the condensed consolidated interim financial statements of the Target Company as of and for the six months ended June 30, 2024. S-68

Combined Unaudited Condensed Consolidated Pro Forma Income Statement for the six months ended June 30, 2024 The table below presents the combined unaudited condensed consolidated pro forma income statement of the BBVA Group for the six months ended June 30, 2024, as if the Exchange Offer had been completed as of January 1, 2023 and assuming the acquisition by BBVA of 100% and 50.01%, respectively, of Target Company shares.

|                                                                                                  |     |            |     BBVA 
      Six 
   months 
    ended 
 June 30, 
     2024 |   |     |     |   Target 
  Company 
      Six 
   months 
    ended 
 June 30, 
 2024 (*) |   |     |     |