Company: BBVXF
Filing Date: 2025-09-08
Form Type: 425
Source: 0001193125-25-198316
Chunk: 16

Company: BANCO BILBAO VIZCAYA ARGENTARIA, S.A.
Filing Date: 2025-09-08
Form: 425
Chunk 16
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 integration into the BBVA Group, nor does it prevent both entities from sharing best practices and operational efficiencies that maximize their value, all within the framework established by said condition. In this regard, BBVA has estimated those synergies that could materialize during the first three years as a result of the takeover of Banco Sabadell and those that could materialize once the Condition of the Council of Ministers ceases to be in force and the merger between the two entities can be carried out (after the third year since its approval or, eventually, the fifth or, as the case may be, if it is annulled by the Supreme Court, whichever occurs first). For more information on the estimated synergies arising from the transaction, see section IV.1.4 of the Prospectus.

| 9.1.5. | Potential uncertainties associated with the above manifestations |

What has been stated in the previous points of this section 9.1 is subject to the potential uncertainties described in section IV.1.5 of the Prospectus.

| 9.1.6. | Shareholder position as a result of the Offer |

As a result of the Offer, assuming 100% acceptance with the current Exchange Ratio, Banco Sabadell shareholders would reach approximately 13.6% ownership interest in BBVA’s share capital and voting rights and current BBVA shareholders will own approximately 86.4% of the shares.

| 9.2 | Strategic plans and intentions with regards to the future activities and location of the centers of activity of 
 Banco Sabadell and its group                                                                                    |

After the takeover of Banco Sabadell, the continuity of its activities will be maintained as long as the Condition of the Council of Ministers remains in force. BBVA’s strategic plans in this regard are described in section IV.2 of the Prospectus.

| 9.3 | Strategic plans and intentions towards maintaining jobs at Banco Sabadell and its group |

As long as the Condition of the Council of Ministers remains in force, each entity must maintain autonomous management and decision-making. This is why BBVA has no specific plans or intentions in relation to maintaining jobs of Banco Sabadell’s staff and executives, or with respect to their working conditions, for the next 12 months. Once the Condition of the Council of Ministers ceases to be in force, BBVA intends to implement an integration process that, in terms of personnel decisions, will seek to preserve the best talent and culture of both entities. BBVA considers both its staff and Banco Sabad