Company: BBVXF
Filing Date: 2025-09-09
Form Type: 424B3
Source: 0001193125-25-198517
Chunk: 223

Company: BANCO BILBAO VIZCAYA ARGENTARIA, S.A.
Filing Date: 2025-09-09
Form: 424B3
Chunk 223
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 As indicated in the TSB Sale Inside
Information Notice, if such closing conditions have not been satisfied by July 1, 2026, Banco Sabadell and Banco Santander, S.A. may, acting in good faith and by mutual agreement, extend the maximum period for closing the TSB Sale. In the absence of
such agreement, the sale and purchase agreement relating to the TSB Sale will be terminated and the TSB Sale will not be

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consummated. BBVA does not intend to take any action in opposition to the approval of the TSB Sale by the extraordinary general shareholders’ meeting of Banco Sabadell.

Plans Regarding Expected Variations in Banco Sabadell’s Net Financial Debt

BBVA intends to promote the renewal of Banco Sabadell’s wholesale funding instruments on terms it expects to be better than the existing
ones as a result of the differences in the spreads for new issuances and maturities of various wholesale debt instruments of BBVA and the financing conditions of Banco Sabadell’s issuances. Additionally, following completion of the exchange
offer, BBVA intends to review and analyze Banco Sabadell’s financing structure to promote the implementation of, to the extent applicable, additional optimization measures once Banco Sabadell becomes part of the BBVA Group aimed at the
maximization of value of Banco Sabadell. Apart from the foregoing, BBVA does not have any plans regarding Banco Sabadell’s net debt position.

BBVA does not expect the foregoing plans to be affected by the CNMC Commitments or the Council of Ministers’ Authorization.

Plans Regarding the Issuance of Securities of Any Kind by Banco Sabadell and the Banco Sabadell Group

Except for transactions related to ordinary regulatory capital and liquidity management of a banking entity and its regulated subsidiaries in
the ordinary course of business, BBVA does not plan to promote the issuance of new securities by Banco Sabadell and the Banco Sabadell Group.

Planned Corporate Restructuring Transactions of Any Kind

Following completion of the exchange offer, BBVA intends to carry out a detailed review of the corporate structure of Banco Sabadell and its
affiliates in order to analyze the merits of carrying out a restructuring to simplify and optimize it, subject to compliance with the Autonomy Condition.

Following the No-merger Period, subject to market conditions or other circumstances making it impractical, inadvisable or impossible to carry
out such merger process, BBVA intends to promote a merger by absorption of