Company: BBVXF
Filing Date: 2025-08-12
Form Type: DRS
Source: 0000950123-25-007520
Chunk: 11

Company: BANCO BILBAO VIZCAYA ARGENTARIA, S.A.
Filing Date: 2025-08-12
Form: DRS
Chunk 11
---
 consider all such information carefully before deciding whether or not to tender your Banco Sabadell shares into the exchange offer.

| Q. | Who is offering to acquire my Banco Sabadell shares? |

| A. | The exchange offer is being undertaken by BBVA, the parent company of the BBVA Group. The BBVA Group is a                                                                                                                                             
 customer-centric global financial services group founded in 1857. Internationally diversified and with strengths in retail banking, asset management and wholesale banking, the BBVA Group is committed to offering a compelling digital proposition  
 focused on customer experience. BBVA has a leadership position in the Spanish market, it is the largest financial institution in Mexico in terms of assets, it has leading franchises in South America, and it is the majority shareholder in Garanti 
 BBVA, Turkey’s largest bank in terms of market capitalization. The BBVA Group had consolidated assets of €776,974 million and €772,402 million as of June 30, 2025 and December 31, 2024, respectively, and net attributable                          
 profit/(loss) of €5,447 million and €10,054 million for the six months ended June 30, 2025 and for the year ended December 31, 2024, respectively.                                                                                                    |

Additional information about the BBVA Group is included in the 2024 Form 20-Fand the BBVA First Half 2025 Results Form 6-K (each as defined herein), which are incorporated by reference in this offer to exchange/prospectus.

| Q. | What is BBVA proposing to do? |

| A. | BBVA is undertaking an exchange offer to acquire all of the issued and outstanding Banco Sabadell shares.                                                                                                                                          
 Pursuant to the exchange offer, BBVA is offering one newly-issued BBVA share and €0.70 in cash for each 5.5483 Banco Sabadell shares (adjusted, as the case may be, as described in this offer to exchange/prospectus) tendered and not withdrawn. |

| Q. | Why is BBVA making this exchange offer? |

| A. | As explained in “BBVA’s Reasons for the Proposed Exchange Offer”, BBVA is undertaking the                                                                                                                                                        
 exchange offer in order to acquire control of Banco Sabadell, which would result in Banco Sabadell becoming part of the BBVA Group. As soon as possible thereafter, and subject to compliance with the Council of Ministers’ Authorization (as   
 defined herein), BBVA intends