Company: BBVXF
Filing Date: 2025-02-27
Form Type: F-4/A
Source: 0001193125-25-037317
Chunk: 47

Company: BANCO BILBAO VIZCAYA ARGENTARIA, S.A.
Filing Date: 2025-02-27
Form: F-4/A
Chunk 47
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’s voting rights. BBVA is not aware of any Spanish precedent transaction where the authorization of a merger
following the acquisition of control of a credit institution, as contemplated by this offer to exchange/prospectus, has not been granted by the Spanish Minister of Economy, Trade and Business. Such authorization was granted, for example, in the case
of the merger of CaixaBank and Bankia and the merger of Unicaja Banco and Liberbank. See “The Exchange Offer—Certain Consequences of the Exchange Offer—Squeeze-out and Merger”. For further information regarding BBVA’s plans
with respect to Banco Sabadell if the intended merger is not consummated for any reason, please see “The Exchange Offer—Plans for Banco Sabadell after the Exchange Offer—Planned Corporate Restructuring Transactions of Any Kind”.

Source and Amount of Funds (page 126)

The exchange offer is not conditioned upon any financing arrangements, and no funds have been borrowed for purposes of the exchange offer. BBVA
will use general corporate funds to pay the exchange offer cash consideration and any additional cash requirements of the exchange offer.

31

Dividend Payments (page 110)

If Banco Sabadell makes any distribution of dividends, reserves or any other type of distribution to its shareholders (regardless of whether it
is an ordinary, extraordinary, interim or complementary distribution) prior to the settlement of the exchange offer or, if applicable, after the settlement of the exchange offer but before the settlement of a subsequent squeeze-out transaction, the share exchange offered as consideration in the exchange offer or in such subsequent squeeze-out transaction, or both, as applicable, will be
adjusted accordingly by an amount equal to the gross amount of the distribution per Banco Sabadell share. The adjustment will be made taking into account the weighted average price per BBVA share during the three-month period prior to the
publication of BBVA’s announcement of its intention to make the exchange offer (that is, €10.24 per BBVA share) and the equivalent price per Banco Sabadell share resulting from the application of the original exchange ratio of 4.83 (that
is, €2.12 per Banco Sabadell share), reduced by the amount of any distribution of dividends, reserves or any other type of distribution by Banco Sabadell to Banco Sabadell’s shareholders after the date of the publication of BBVA’s
announcement of its intention to make the exchange offer but prior to the settlement of the exchange offer or, if applicable, after