Company: BBVXF
Filing Date: 2025-09-05
Form Type: F-4/A
Source: 0001193125-25-196513
Chunk: 93

Company: BANCO BILBAO VIZCAYA ARGENTARIA, S.A.
Filing Date: 2025-09-05
Form: F-4/A
Chunk 93
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1, 2025, according to information published by Banco Sabadell on such date. |

| • |     | BBVA’s capital increase is carried out in the proportion of one newly-issued BBVA share for each 5.5483                                                                                                                                                 
 Banco Sabadell shares, without any further adjustment for any dividends paid. Therefore, the number of BBVA shares to be issued in the event of completion of the exchange offer under the Full Acquisition Scenario and the 50% Acceptance Scenario is 
 approximately 905 million BBVA shares and approximately 453 million BBVA shares, respectively. The acquisition costs of the business combination will be determined on the basis of the trading price of the BBVA shares delivered to                   |

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| holders of Banco Sabadell shares in accordance with the exchange ratio applicable upon completion of the exchange offer. The estimated value of such capital increase in the event of completion of                                            
 the exchange offer under the Full Acquisition Scenario and the 50% Acceptance Scenario amounts to approximately €11,821 million and €5,910 million, respectively, using a trading price of €13.055 per BBVA share (which corresponds           
 to the price per BBVA share as of June 30, 2025, and which corresponds to a trading price of €2.353 per Banco Sabadell share upon application of the exchange ratio of one newly-issued BBVA share for each 5.5483 Banco Sabadell shares). See 
 “—Impact of Other Potential Scenarios on the Pro Forma Financial Information—Sensitivity of Goodwill/(Negative Goodwill) to the Trading Price of the BBVA Shares” below.                                                                       |

| • |     | Additionally, the exchange offer cash consideration (as adjusted for the dividends paid by BBVA on October 10,                                                                                                                                 
 2024 and April 10, 2025) is considered part of the pro forma adjustments, that is €634 million and €317 million in the event of completion of the exchange offer under the Full Acquisition Scenario and the 50% Acceptance Scenario,          
 respectively (€0.70 for each 5.5483 shares of Banco Sabadell). For purposes of preparing the pro forma financial information as of June 30, 2025, the estimated value of the capital increase in the event of completion of the exchange offer 
 under the Full Acquisition Scenario and the 50% Acceptance Scenario amounts to approximately €12,454 million and €6,227 million, respectively.                                                                                                 |

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