Company: BBVXF
Filing Date: 2025-02-27
Form Type: F-4/A
Source: 0001193125-25-037317
Chunk: 168

Company: BANCO BILBAO VIZCAYA ARGENTARIA, S.A.
Filing Date: 2025-02-27
Form: F-4/A
Chunk 168
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 on the Spanish Stock Exchanges of the newly-issued BBVA shares, as promptly as possible, which is expected to take place within a maximum period of 15 Spanish stock exchange business days following the publication of the result
of the exchange offer. Any delay, including the reasons for such delay, will be communicated by BBVA through a relevant information notice.

NYSE

BBVA ADSs are listed on the
NYSE under the symbol “BBVA”. Each BBVA ADS represents the right to receive one BBVA share. Please also see “—BBVA ADSs” in this offer to exchange/prospectus.

Appraisal Rights

The holders of Banco Sabadell shares are not entitled under Spanish law or otherwise to appraisal rights with respect to the exchange offer.

Certain Legal and Regulatory Matters

Except as otherwise disclosed herein, BBVA is not aware of any other material regulatory approvals or other regulatory actions required for
completion of the exchange offer. Should any such approval or other action be required, BBVA currently contemplates that such approval or other action will be sought.

Certain Consequences of the Exchange Offer

Trading in Banco Sabadell Shares During and After the Exchange Offer

Following completion of the exchange offer, Banco Sabadell shares not tendered into the exchange offer will continue to trade on the Spanish
Stock Exchanges. However, if the requirements set forth in articles 116 of the Securities Market Law and 47 of the Spanish Takeover Regulation are met, then BBVA will exercise its right to demand the
squeeze-out of the remaining Banco Sabadell shares at the same consideration (including the share consideration and the exchange offer cash consideration) as offered pursuant to the exchange offer (adjusted,
as the case may be, as described in this offer to exchange/prospectus). See “—Squeeze-out and Merger” below.

Reduced Liquidity

The
acquisition of Banco Sabadell shares by BBVA pursuant to the exchange offer will reduce the number of holders of Banco Sabadell shares and the number of Banco Sabadell shares that might otherwise trade publicly and, depending on the number of Banco
Sabadell shares acquired by BBVA pursuant to the exchange offer, could adversely affect the liquidity of any remaining Banco Sabadell shares held by the public or result in their automatic delisting from the Spanish Stock Exchanges if BBVA obtains
the percentage of voting rights required to exercise its squeeze-out right.

122

If the requirements set forth in articles 116 of the Securities Market Law and 47 of