Company: BBVXF
Filing Date: 2025-02-27
Form Type: F-4/A
Source: 0001193125-25-037317
Chunk: 171

Company: BANCO BILBAO VIZCAYA ARGENTARIA, S.A.
Filing Date: 2025-02-27
Form: F-4/A
Chunk 171
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 importance attributed to these methods and any relevant special valuation difficulties) and state whether or not the established exchange ratio is justified. This report must be made available to the shareholders of BBVA and Banco Sabadell at least one month before the respective general shareholders’ meeting at which the merger will be submitted for approval. In order to consummate such merger, the following approvals or authorizations would need to be obtained:

| • |     | The formulation by BBVA and Banco Sabadell’s respective boards of directors of the joint plan of merger. The                                                                                                                                            
 joint plan of merger will be negotiated between the directors of BBVA and Banco Sabadell and will seek the best interest of the two entities. As a result, and taking into account that following completion of the exchange offer BBVA will be able to 
 appoint the majority of the members of the board of directors of Banco Sabadell, BBVA expects that the joint plan of merger will be approved by BBVA’s and Banco Sabadell’s respective boards of directors.                                             |

| • |     | The approval by Banco Sabadell shareholders of the joint plan of merger. Taking into account that following                                                                                                                          
 completion of the exchange offer, BBVA will be able to exercise more than half of the voting rights of the Banco Sabadell shares outstanding, BBVA expects that Banco Sabadell’s shareholders will approve the joint plan of merger. |

| • |     | The approval by BBVA’s shareholders of the joint plan of merger. Taking into account that, on July 5, 2024,                                                                                                                                            
 BBVA’s extraordinary general shareholders’ meeting already approved to authorize the increase of BBVA’s share capital in an amount of up to €551,906,524.05 through the issuance of up to 1,126,339,845 newly-issued BBVA shares to                    
 be offered to the holders of Banco Sabadell shares pursuant to the exchange offer, with shareholders representing 70.75% of the outstanding BBVA shares present at such meeting and 96.01% of such shareholders voting in favor, BBVA expects that its 
 shareholders will approve the joint plan of merger.                                                                                                                                                                                                    |

| • |     | The prior authorization of the Spanish Minister of Economy, Trade and Business in accordance with the provisions                                                                                                                                       
 of the twelfth additional provision of Law 10/2014, of June 26, on the regulation, supervision and solvency of credit institutions and related regulations, which would be a condition to the approval of