Company: BBVXF
Filing Date: 2025-02-27
Form Type: F-4/A
Source: 0001193125-25-037317
Chunk: 8

Company: BANCO BILBAO VIZCAYA ARGENTARIA, S.A.
Filing Date: 2025-02-27
Form: F-4/A
Chunk 8
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 THE PROPOSED EXCHANGE OFFER The summary term sheet in question-and-answerformat set forth below highlights selected information about the exchange offer that is included elsewhere in this offer to exchange/prospectus. It does not, however, contain all of the information included in, or incorporated by reference into, this offer to exchange/prospectus and you should read and consider all such information carefully before deciding whether or not to tender your Banco Sabadell shares into the exchange offer.

| Q. | Who is offering to acquire my Banco Sabadell shares? |

| A. | The exchange offer is being undertaken by BBVA, the parent company of the BBVA Group. The BBVA Group is a                                                                                                                                             
 customer-centric global financial services group founded in 1857. Internationally diversified and with strengths in retail banking, asset management and wholesale banking, the BBVA Group is committed to offering a compelling digital proposition  
 focused on customer experience. BBVA has a leadership position in the Spanish market, it is the largest financial institution in Mexico in terms of assets, it has leading franchises in South America, and it is the majority shareholder in Garanti 
 BBVA, Turkey’s largest bank in terms of market capitalization. The BBVA Group had consolidated assets of €772,402 million as of December 31, 2024 and net attributable profit/(loss) of €10,054 million for the year ended                            
 December 31, 2024.                                                                                                                                                                                                                                    |

Additional information about the BBVA Group is included in the 2024 Form 20-F(as defined herein), which is incorporated by reference in this offer to exchange/prospectus.

| Q. | What is BBVA proposing to do? |

| A. | BBVA is undertaking an exchange offer to acquire all of the issued and outstanding Banco Sabadell shares.                                                        
 Pursuant to the exchange offer, BBVA is offering one newly-issued BBVA share and €0.29 in cash for each 5.0196 Banco Sabadell shares tendered and not withdrawn. |

| Q. | Why is BBVA making this exchange offer? |

| A. | As explained in “BBVA’s Reasons for the Proposed Exchange Offer”, BBVA is undertaking the                                                                                                                           
 exchange offer to acquire control of Banco Sabadell in order to be in a position to, subject to relevant approvals, integrate both businesses and create a stronger combined group, which is expected to result in: |

| i. | the achievement of a larger scale in a highly