Company: BBVXF
Filing Date: 2025-01-08
Form Type: 424B5
Source: 0001193125-25-003393
Chunk: 97

Company: BANCO BILBAO VIZCAYA ARGENTARIA, S.A.
Filing Date: 2025-01-08
Form: 424B5
Chunk 97
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2024 the authorization from the Prudential Regulation Authority (PRA) for BBVA’s indirect acquisition of control of TSB Bank PLC, the Target Company’s banking
subsidiary in the United Kingdom, as a result of the Exchange Offer.

S-60

On September 5, 2024, BBVA announced that it received on that day the decision of non-oppositionfrom the European Central Bank to BBVA’s taking control of the Target Company, as a result of the Exchange Offer. On November 12, 2024, the Spanish antitrust authorities announced their decision that further review of the economic concentration resulting from the Exchange Offer would be required, extending antitrust review into a second phase. The detailed terms of the Exchange Offer will be set out in the Spanish prospectus (which was submitted together with the Exchange Offer request to the CNMV for their authorization on May 24, 2024, and will be published after obtaining CNMV Clearance) and the relevant U.S. offer to exchange/prospectus. Based on the information available when announcing the Exchange Offer, BBVA estimated a negative impact on BBVA’s Group CET1 capital of 38 basis points 1if the Exchange Offer were accepted by holders of shares representing 100% of the share capital of the Target Company. See “ Risk Factors—Risks Relating to the Exchange Offer”. Unaudited Pro Forma Condensed Financial Information The following pro forma financial information gives effect to completion of the Exchange Offer. The pro forma financial information included herein is based on the historical financial statements and related notes of BBVA and the Target Company for the applicable periods, and it should be read in conjunction with the historical financial statements and related notes of BBVA for the applicable periods. The pro forma financial information presented herein has not been audited and is presented exclusively for illustrative purposes. Due to its nature, this information presents a hypothetical scenario and may not represent the actual financial position or results of the BBVA Group and/or the Target Company and its subsidiaries (collectively, the “ Target Company Group”), and is not necessarily indicative of what the financial situation or results of BBVA would have been under a combined scenario with the Target Company Group as of June 30, 2024 for purposes of the consolidated pro forma balance sheet, or for the year ended December 31, 2023 and the six months ended June 30, 2024 for purposes of the pro forma income statements, as applicable, nor is it intended to project the future financial