Company: BBVXF
Filing Date: 2025-08-12
Form Type: DRS
Source: 0000950123-25-007520
Chunk: 246

Company: BANCO BILBAO VIZCAYA ARGENTARIA, S.A.
Filing Date: 2025-08-12
Form: DRS
Chunk 246
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 the board of directors of Banco Sabadell to that of an unlisted company, subject to compliance with the regulations to which Banco Sabadell is subject as a credit institution, including with respect to the minimum
number of independent directors required by applicable law.

Plans Regarding Amendments to Banco Sabadell’s Bylaws

BBVA does not have any plans or intentions regarding amendments to Banco Sabadell’s by-laws in the 12 months following completion of the
exchange offer.

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As confidentially submitted to the Securities and Exchange Commission on August 11, 2025.

This Amendment No. 4 has not been publicly filed with the Securities and Exchange Commission and all

information herein remains strictly confidential.

Regulation

The ECB (together with the Bank of Spain through the Single Supervisory Mechanism) is BBVA’s and Banco Sabadell’s primary prudential
regulator, and it will continue to be the primary prudential regulator of each of BBVA and Banco Sabadell in Spain after completion of the exchange offer.

Relief Requested from the SEC

Tender Offer Rules Exemptive and No-Action Relief

BBVA has requested that the SEC provide exemptive relief from the provisions of Rule 14e-5 under the Exchange Act to permit BBVA to conduct certain trading activities in the Banco Sabadell shares prior to and during the conduct of, but outside of, the exchange offer. Subject to certain exceptions,
Rule 14e-5 under the Exchange Act prohibits a person making a tender offer for an equity security, as well as such offeror’s dealer-manager, the advisers or affiliates of such offeror or dealer-manager and any person acting, directly or
indirectly, in concert with such persons, from, directly or indirectly, purchasing or arranging to purchase any securities subject to a tender offer, or any securities immediately convertible into, exchangeable for or exercisable for such
securities, except as part of such tender offer. This prohibition applies from the time of public announcement of the tender offer until the tender offer expires.

The SEC granted BBVA relief pursuant to BBVA’s request on May 29, 2024. Such relief permits, subject to certain enumerated conditions set
forth in the relief letter, BBVA, BBVA’s subsidiaries and their respective affiliates and separately identifiable departments (collectively, the “BBVA Prospective Purchasers”) to purchase or arrange to purchase Banco Sabadell shares,
and various derivatives related to such securities (collectively,