Company: BBVXF
Filing Date: 2025-09-09
Form Type: 424B3
Source: 0001193125-25-198517
Chunk: 82

Company: BANCO BILBAO VIZCAYA ARGENTARIA, S.A.
Filing Date: 2025-09-09
Form: 424B3
Chunk 82
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business days following the publication of the results of the exchange offer on the website of the CNMV, BBVA will communicate to the CNMV and publicly announce whether or not the requirements to execute a
squeeze-out transaction have been met. In that announcement, or within the two following Spanish stock exchange business days, BBVA will announce the date of the
squeeze-out transaction. In accordance with article 48.4 of the Spanish Takeover Regulation, such date will be fixed between the 15 and the 20 Spanish business day following the date of such announcement. Such decision will be irrevocable. Upon settlement of such squeeze-out transaction, the Banco
Sabadell shares will be automatically delisted from the Spanish Stock Exchanges.

Even if a squeeze-out transaction is effected, pursuant
to the Council of Ministers’ Authorization, BBVA will need to comply with the Autonomy Condition during the No-merger Period.

BBVA’s interests may differ from the interests of other shareholders of Banco Sabadell.

Following completion of the exchange offer, BBVA
will be Banco Sabadell’s majority shareholder or, if the Minimum Acceptance Condition is waived, at least a significant shareholder of Banco Sabadell, and Banco Sabadell shareholders who have not tendered their Banco Sabadell shares in the
exchange offer will remain as Banco Sabadell shareholders. BBVA may have interests which may differ from those of other shareholders of Banco Sabadell. There can be no assurance that the interests of BBVA will coincide with the interests of other
Banco Sabadell shareholders. Additionally, following completion of the exchange offer, current shareholders of Banco Sabadell will have less ability to influence the direction of Banco Sabadell. BBVA intends to reflect its controlling or otherwise
significant interest in the composition of Banco Sabadell’s board of directors by appointing a number of directors corresponding to at least such interest.

Uncertainties associated with the exchange offer may cause a loss of employees and may otherwise affect the future business and operations of BBVA and Banco Sabadell.

Uncertainty about the effect of the exchange offer on employees and customers may have an adverse effect on BBVA
and Banco Sabadell. These uncertainties may impair the ability to retain and motivate key personnel until and after the exchange offer is completed and could cause customers, suppliers, licensees, partners and others that deal with Banco Sabadell or
BBVA to defer entering into contracts with Banco Sabadell or BBVA or making other decisions concerning