Company: BBVXF
Filing Date: 2025-09-09
Form Type: 424B3
Source: 0001193125-25-198517
Chunk: 105

Company: BANCO BILBAO VIZCAYA ARGENTARIA, S.A.
Filing Date: 2025-09-09
Form: 424B3
Chunk 105
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 equity of Banco Sabadell, and in one line item of the consolidated income statement (“Results of entities valued by the equity method& dividend income”). BBVA may waive the Minimum Acceptance Condition and proceed with completion of the exchange offer if the exchange offer is accepted by holders of Banco Sabadell shares representing at least 30% of the share capital of Banco Sabadell. The impacts on the pro forma financial information in a scenario in which the exchange offer is accepted by holders of Banco Sabadell shares representing only 30% of the share capital of Banco Sabadell (for purposes of this section, the “30% Acceptance Scenario”), compared to the Full Acquisition Scenario and the 50% Acceptance Scenario, are shown below. The information presented below has been calculated on the basis of the assumptions explained under “—Assumptions and Estimates Used” above and assumes that, with only 30% of Banco Sabadell’s voting rights, BBVA would not control Banco Sabadell upon completion of the exchange offer. 71

Impacts of a 30% Acceptance Scenario on the unaudited condensed consolidated pro forma balance sheet of the BBVA Group as of June 30, 2025 The table below presents the combined unaudited condensed consolidated pro forma balance sheet of the BBVA Group as of June 30, 2025, as if the exchange offer had been completed as of such date, assuming completion of the exchange offer under the 30% Acceptance Scenario. In this scenario, using the equity method of accounting, BBVA’s interest in Banco Sabadell is shown as an asset in the consolidated balance sheet under “Joint ventures and associates”.

|                                                                        |     | A          
 BBVA       
 June 30,   
 2025       |         |   |     | B           
 Pro forma   
 adjustments 
 assuming    
 30%         
 Acceptance  
 Scenario    |       |   |     | C (A+B)    
 Combined   
 pro forma  
 balance    
 sheet      
 assuming   
 30%        
 Acceptance 
 Scenario   |         |   |
|:-----------------------------------------------------------------------|:----|:-----------|--------:|:--|:----|:------------|------:|:--|:----|:-----------|--------:|:--|
|                                                                        |     | -€ million |         |   |     |             |       |   |     |            |         |   |
| Cash, cash balances in central banks and other demand deposits (*)     |     |