Company: BBVXF
Filing Date: 2025-09-08
Form Type: 425
Source: 0001193125-25-198316
Chunk: 23

Company: BANCO BILBAO VIZCAYA ARGENTARIA, S.A.
Filing Date: 2025-09-08
Form: 425
Chunk 23
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i) the future activities and location of the business centers, which will not be significantly modified (beyond the consequent increase in scale and rationalization of the combined entity’s branch network when the merger of the two entities referred to in section IV.1.4 (ii) and section IV.4 of the Prospectus can be carried out); (ii) the use or disposal of assets of BBVA and its group; (iii) BBVA’s level of indebtedness; (iv) the shareholder remuneration policy (as indicated in section IV.7 of the Prospectus); and (v) the structure, composition and functioning of its administrative, management and control bodies. The foregoing statements and intentions may not be applicable in the event that BBVA waives the Minimum Acceptance Condition in accordance with Article 33.3 of Royal Decree 1066/2007 and acquires a stake of between 30% and 50% of Banco Sabadell’s voting rights as a result of the Offer, to the extent that the planned merger may not take place.

| 9.14 | Impact of the Offering and its financing on BBVA’s main financial figures |

The impact of the Offer on BBVA’s financial statements is described in the proforma financial information included in section IV.14 of the Prospectus with the scope limitations described therein, together with the special review report on the proforma financial information of BBVA and Banco Sabadell, issued by BBVA’s auditor, which is attached as an annex to the Prospectus. Chapter IV of the Prospectus includes additional information on BBVA’s strategic plans and intentions with respect to the Sabadell Group.

| 10. | PROCEDURE FOR ACCEPTANCE AND SETTLEMENT OF THE OFFER |

| 10.1 | Acceptance period of the Offer |

The acceptance period of the Offer will be 30 calendar days from the trading day following the date of publication of the first of the announcements referred to in Article 22 of Royal Decree 1066/2007. If the last day of the period is not a business day for stock market purposes, the acceptance period will be extended for such purposes until the following first trading day. The acceptance period will end in any case at 23:59:59 hours on the last day of the aforementioned period. BBVA may extend the acceptance period of the Offer one or more times in accordance with the provisions of Article 23 of Royal Decree 1066/2007, provided that the