Company: BBVXF
Filing Date: 2025-09-08
Form Type: 425
Source: 0001193125-25-198316
Chunk: 22

Company: BANCO BILBAO VIZCAYA ARGENTARIA, S.A.
Filing Date: 2025-09-08
Form: 425
Chunk 22
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 result of the Offer, BBVA’s current shareholders will reduce their stake to a maximum of approximately 86.4% of BBVA, while Banco Sabadell shareholders would receive approximately the remaining 13.6%, assuming 100% acceptance 2. For its part, the payment in cash corresponding to the Cash Consideration and the picosregime will be 2For the calculation of the maximum number of shares to be issued by BBVA to meet the consideration for the Offer, the 264,551,530 shares of Banco Sabadell acquired within the framework of its share buyback program authorized by the General Meeting of Shareholders of Banco Sabadell held on March 20, 2025 and pending effective redemption have been excluded. The impact of the share buyback program for an amount of €993m announced by BBVA and pending execution is not taken into account, as BBVA will not execute said program until after the completion of the Offer. 13

This is an unofficial English translation for information purposes only of the offer announcement’s official version in Spanish. The National Securities Market Commission (Comisión Nacional del Mercado de Valores) did not review this version. In the event of any discrepancies between this document and the corresponding Spanish version, the Spanish version shall prevail. met with BBVA’s available cash, without BBVA having resorted to external financing. The impact of the Offer and the capital increase on BBVA’s financial statements, at a consolidated level, is detailed in section IV.14 of the Prospectus. In accordance with the provisions of section IV.1.4 (ii) and section IV.3 of the Prospectus, once the Condition of the Council of Ministers ceases to be in force, the combination could have an impact on BBVA’s jobs derived from the staff synergies as a result of the merger of both entities. In addition, at that time, the closure of branches and the expected efficiencies in central services mentioned in point (ii) of section IV.1.4 and in section IV.4 of the Prospectus for the time when the Condition of the Council of Ministers ceases to be in force, could also affect BBVA. Apart from the foregoing, BBVA does not expect that the takeover of Banco Sabadell resulting from the Offer and the necessary capital increase, as well as the planned merger with Banco Sabadell once the Condition of the Council of Ministers ceases to be in force, will significantly affect BBVA and its group in relation to: (