Company: BBVXF
Filing Date: 2025-08-12
Form Type: DRS
Source: 0000950123-25-007520
Chunk: 243

Company: BANCO BILBAO VIZCAYA ARGENTARIA, S.A.
Filing Date: 2025-08-12
Form: DRS
Chunk 243
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 a result of the Administrative Appeal,
BBVA may be able to consummate a merger with Banco Sabadell sooner than would otherwise be permitted pursuant to the Council of Ministers’ Authorization. There is no guarantee that BBVA will prevail in the Administrative Appeal.

Plans Regarding Shareholder Remuneration Policy

During 2023 and 2024, remuneration for Banco Sabadell shareholders has consisted partly of cash and partly of share repurchases. On May 6,
2024, Banco Sabadell made public its commitment to distribute to its shareholders, on an ongoing basis, any excess capital above what is required to maintain a 13% CET1 ratio (pro forma Basel IV). On July 23, 2024, Banco Sabadell made public
its decision to set the 2024 payout ratio at 60% of its net attributable profit.

On March 20, 2025, Banco Sabadell’s general
shareholders’ meeting approved a new shareholder remuneration policy. This new policy contemplates a payout ratio of between 40% and 60% of net attributable profit, payable in dividends or other forms of shareholder remuneration (including
share buy-backs). The policy also introduces the possibility of making capital distributions against Banco Sabadell’s reserves and/or share premium, not necessarily directly related to the results obtained by Banco Sabadell (for example, in the
case of being above Banco Sabadell’s CET1 ratio target). Additionally, the new policy contemplates the possibility of making extraordinary distributions above the annual pay-out ratio of between 40% and 60% of the net profit attributable to
Banco Sabadell or distributions against freely available reserves. Lastly, the new policy contemplates that the board of directors of Banco Sabadell may declare more than one interim dividend per financial year payable on each of August 29 and
December 29 of the relevant financial year. This policy is expected to apply through completion of the exchange offer, though it may be subsequently revisited by Banco Sabadell’s board of directors without the need for approval by Banco
Sabadell’s general shareholders’ meeting. Additionally, on July 1, 2025, Banco Sabadell published the TSB Sale Inside Information Notice, announcing, among other things, its decision to call an extraordinary general shareholders’
meeting to approve the payment of the TSB Sale Dividend. The payment of the TSB Sale Dividend was approved by the extraordinary general shareholders’ meeting of Banco