Company: BBVXF
Filing Date: 2025-02-27
Form Type: F-4/A
Source: 0001193125-25-037317
Chunk: 194

Company: BANCO BILBAO VIZCAYA ARGENTARIA, S.A.
Filing Date: 2025-02-27
Form: F-4/A
Chunk 194
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 has the right to appoint a corresponding proportion of the directors (rounded down to the nearest whole number) to the board of directors. Shareholders who exercise the right to appoint directors in
accordance with the above may not vote on the appointment of other directors to BBVA’s board of directors. Under the Spanish Corporation Law, BBVA’s board of directors may also designate directors by interim appointment to fill vacancies (co-option). If a director has been co-opted, such director will have a term of office ending on the first general shareholders’ meeting held following such co-option. The general shareholders’ meeting may then ratify such director’s appointment for the term of office remaining of the director whose vacancy has been covered through co-option, or appoint such director for the term of office established under BBVA’s bylaws (currently, three years).

Under Spanish law, any new directors shall comply with the suitability criteria set forth in, among other applicable legislation, Law 10/2014,
Royal Decree 84/2015, of February 13 and Bank of Spain Circular 2/2016, of February 2.

Preemptive Rights

Pursuant to the Spanish Corporation Law, shareholders have preemptive rights to subscribe for (i) new BBVA shares issued in the context of
a capital increase involving cash contributions (except where the capital increase is due to the conversion of convertible securities into BBVA shares, the absorption of another company, or the absorption of all or part of the assets of another
company by means of a spin-off of such company); and (ii) securities which are convertible into BBVA shares.

These preemptive rights may be completely or partially excluded in certain circumstances in accordance with the Spanish Corporation Law,
following a resolution passed at the general shareholders’ meeting (which may, for example, authorize the board of directors to exclude preemptive rights). BBVA reserves the right to propose to the general shareholders’ meeting that such
preemptive rights be completely or partially excluded in any future issuance of new BBVA shares or securities which are convertible into BBVA shares.

Dividends and Distributions

Shareholders
have the right to participate in the distribution of corporate earnings. Pursuant to BBVA’s bylaws, dividends may be paid in cash or in kind.

Once the requirements under Spanish law and BBVA’s bylaws are satisfied, dividends may be distributed and charged to the year’s
profit or unrestricted reserves, provided that the value of BBVA’s total net assets is not, or as