Company: BBVXF
Filing Date: 2025-02-27
Form Type: F-4/A
Source: 0001193125-25-037317
Chunk: 126

Company: BANCO BILBAO VIZCAYA ARGENTARIA, S.A.
Filing Date: 2025-02-27
Form: F-4/A
Chunk 126
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 Sabadell shareholders prior to the settlement date of the
exchange offer), unless the context otherwise requires. The term “exchange offer cash consideration” as used in this offer to exchange/prospectus means an amount in cash equal to €0.29 for each 5.0196 Banco Sabadell shares (adjusted,
as the case may be, as described below for any distribution of dividends, reserves or any other type of distribution to BBVA shareholders prior to the settlement date of the exchange offer).

As the consideration consists in part of newly-issued BBVA shares, BBVA’s board of directors, at the meeting at which it unanimously
approved undertaking the exchange offer and in accordance with the provisions of article 14.5 of the Spanish Takeover Regulation, also approved the calling of a general shareholders’ meeting to decide on the issue of the new BBVA shares in the
amount necessary to fully cover the share exchange. On July 5, 2024, BBVA’s extraordinary general shareholders’ meeting approved to authorize such capital increase, with shareholders representing 70.75% of the outstanding BBVA shares
present at such meeting and 96.01% of such shareholders voting in favor. Pursuant to the provisions of article 14.2.c) of the Spanish Takeover Regulation, BBVA shall request the admission to trading of the newly-issued BBVA shares on the same
markets on which its shares are currently listed, within the regulatory deadlines established.

With respect to the exchange offer cash
consideration, tendering holders of Banco Sabadell shares that tender a number of Banco Sabadell shares that does not entitle them to receive at least one newly-issued BBVA share, or that entitles them to receive a whole number of newly-issued BBVA
shares but have an excess number of Banco Sabadell shares that would entitle them to receive a cash payment in lieu of a fractional BBVA share, will receive an amount in cash equal to €0.29 multiplied by the fraction of a BBVA share (rounded to
the nearest hundredth with five one thousandths of a BBVA share being rounded upwards (e.g., 0.205 would be rounded to 0.21)) that they would otherwise be entitled to receive in accordance with the exchange ratio of 5.0196 (adjusted, as the case may
be, as described in this offer to exchange/prospectus). Such amount in cash will be rounded to the nearest euro cent and, in the event of