Company: BBVXF
Filing Date: 2025-09-09
Form Type: 424B3
Source: 0001193125-25-198517
Chunk: 180

Company: BANCO BILBAO VIZCAYA ARGENTARIA, S.A.
Filing Date: 2025-09-09
Form: 424B3
Chunk 180
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 after the expected end of the acceptance period) and the payment of the TSB Sale Dividend is conditional upon closing of the TSB Sale, the exchange ratio is not expected to be adjusted as a result of the payment of the TSB Sale Dividend. 136

In this regard, following the corresponding analyses, BBVA considers that the potential consummation of the TSB Sale and the payment of the TSB Sale Dividend would not materially affect the strategic reasons of the exchange offer and that the acquisition of control of Banco Sabadell and its integration into the BBVA Group would continue to create value for the shareholders of both entities, without significantly altering the reasons for the exchange offer. The following table sets forth certain metrics of the BBVA Group, reflecting completion of the exchange offer, calculated as described in the notes to such table and adjusted to reflect the potential consummation of the TSB Sale and the payment of the TSB Sale Dividend, based on publicly-available information.

|                                                                                      |     |                                       | As of or for the 
 six months ended 
    June 30, 2025 |   |     |     | Adjusted for 
 TSB Sale and 
     TSB Sale 
     Dividend |   |     |     |   As of or for 
 the year ended 
  Dec. 31, 2024 |   |     |     |  Adjusted for TSB 
 Sale and TSB Sale 
          Dividend |   |
|:-------------------------------------------------------------------------------------|:----|:--------------------------------------|-----------------:|:--|:----|:----|-------------:|:--|:----|:----|---------------:|:--|:----|:----|------------------:|:--|
|                                                                                      |     | -€ million, except % and basis points |                  |   |     |     |              |   |     |     |                |   |     |     |                   |   |
| Consolidated total assets(1)                                                         |     |                                       |        1,027,153 |   |     |     |      981,019 |   |     |     |      1,006,170 |   |     |     |           957,814 |   |
| Attributable net profit(2)                                                           |     |                                       |            6,490 |   |     |     |        6,319 |   |     |     |         12,006 |   |