Company: BBVXF
Filing Date: 2025-09-09
Form Type: 424B3
Source: 0001193125-25-198517
Chunk: 7

Company: BANCO BILBAO VIZCAYA ARGENTARIA, S.A.
Filing Date: 2025-09-09
Form: 424B3
Chunk 7
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 2025 by the SEC from Rule 14e-1(b) under the Exchange Act, and subject to
certain enumerated conditions set forth in the relief letter, BBVA may adjust the share consideration offered in the exchange offer if Banco Sabadell makes any distributions of dividends, reserves or any other type of distribution to its
shareholders (regardless of whether it is an ordinary, extraordinary, interim or complementary distribution) prior to the settlement of the exchange offer, provided that the publication of the results of the exchange offer in the Official
Quotation Bulletins is made on the same day or after the ex-dividenddate of such distribution of dividends, reserves or any other type of distribution, as described under “The Exchange Offer—Consideration”, without
extending the acceptance period by 10 U.S. business days as required by Rule 14e-1(b). If the share exchange offered as consideration in the exchange offer is adjusted as described under “The Exchange Offer—Consideration”, BBVA
will disseminate an announcement of such adjustment through a press release and will file such announcement with the SEC via the EDGAR filing system on the date that the announcement is made. BBVA will also make an “other relevant
information” filing with the CNMV (as defined herein) in Spain.

For additional information, see “The Exchange
Offer—Relief Requested from the SEC—Tender Offer Rules Exemptive and No-Action Relief”.

Rule 14d-4(d)(2) relief

Pursuant to no-action relief granted on September 2, 2025 by the SEC with respect to Rule 14d-4(d)(2) under the Exchange Act, BBVA
may, following the expiration date of the exchange offer, waive the Minimum Acceptance Condition (as defined herein) in accordance with Spanish law and practice (i.e., through the first Spanish stock exchange business day following the date on which
BBVA receives the CNMV Notification (as defined herein)) in the event that the Minimum Acceptance Condition has not been satisfied as of the end of the acceptance period, without extending the acceptance period or providing withdrawal rights in
connection with any such waiver. Such relief is conditioned upon BBVA’s undertaking not to waive the Minimum Acceptance Condition if the number of Banco Sabadell shares tendered and not withdrawn in the exchange offer would not permit BBVA to
acquire at least 30% of the voting rights of the Banco Sabadell shares (excluding any