Company: BBVXF
Filing Date: 2025-09-08
Form Type: 425
Source: 0001193125-25-198316
Chunk: 7

Company: BANCO BILBAO VIZCAYA ARGENTARIA, S.A.
Filing Date: 2025-09-08
Form: 425
Chunk 7
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 the delivery of newly issued BBVA shares and the corresponding payment in cash, in accordance with the Exchange Ratio. In view of the nature of the exchange offered in newly issued BBVA shares, those shareholders of Banco Sabadell who participate in the Offer with a number of Banco Sabadell shares that do not entitle them to receive at least one full share of BBVA or are entitled to receive a full number of BBVA shares but have a number of Banco Sabadell shares that is not sufficient to have a total number of BBVA shares The right to receive an additional share of BBVA will be entitled to receive an equivalent cash consideration in relation to the fraction of BBVA’s shares corresponding to the aforementioned surplus shares of Banco Sabadell (“ picos”). Sections III.1.2.3 and III.1.2.6 of the Prospectus explain the regime and functioning of the picos. The consideration shall be paid in accordance with the provisions of Chapter III of the Prospectus. The shares that BBVA will deliver in exchange to Banco Sabadell shareholders who accept the Offer will be ordinary shares issued by BBVA, with a nominal value of €0.49 per unit, of the same class and series, and with the same rights, as those currently outstanding, and will be denominated and traded in euros. BBVA will apply for admission to trading on the Spanish Stock Exchanges, through SIBE, as well as on the other stock exchanges on which BBVA shares are listed. For more information on the shares offered in consideration for the shares representing the share capital of Banco Sabadell, see section II.2.4 of the Prospectus. BBVA will not issue any prospectus, for the purposes of Regulation (EU) 2017/1129 of the European Parliament and of the Council, in relation to the ordinary shares that it must issue to meet the consideration offered or for admission to trading on the Spanish Stock Exchanges, through the SIBE, given that BBVA has chosen to avail itself of the exemptions for exchange offers established in sections 4.f) and 5.e) of the Regulation 2017/1129 of the European Parliament and of the Council, of 14 June 2017. To this end, BBVA will publish separately on its website ( www.bbva.com ) an exemption document, in accordance with the requirements of Delegated Regulation 2021/2018, of December 16, 2020. For more information on additional information equivalent to