Company: BBVXF
Filing Date: 2025-09-09
Form Type: 424B3
Source: 0001193125-25-198517
Chunk: 303

Company: BANCO BILBAO VIZCAYA ARGENTARIA, S.A.
Filing Date: 2025-09-09
Form: 424B3
Chunk 303
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 subject to subsequent revision. The nominal amount of these securities as at the date of the agreement with Banco Santander stood at 1,450 million pounds sterling (approximately 1,695 million euros 8). The closing of the transaction (expected to take place during the first quarter of 2026) is subject to approval by Banco Sabadell shareholders during an Extraordinary General Meeting and to obtaining the regulatory authorisations from the competent authorities. In accordance with accounting standards applicable to the Group, transactions carried out by TSB and its subsidiaries, which comprised almost entirely the Banking Business UK segment (see Note 31), are now considered discontinued operations as from 1 July 2025. Consequently, these Group condensed consolidated interim financial statements do not reflect any impact arising from this transaction.

| 8 | At the sterling to euro conversion rate published by the European Central Bank on 30 June 2025 of GBP 0.8555 per 
 euro.                                                                                                            |

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The amount of lending items as at 30 June 2025 and the profit after tax of the TSB consolidated
subgroup for the six-month period then ended came to approximately 36,392 million pounds and 139 million pounds, respectively. Its Common Equity Tier 1 ratio stood at 16.3%. It is estimated that the
transaction would have a positive effect on the Common Equity Tier 1 ratio of the Group of approximately 409 basis points.

As a result mainly of
the profit derived from the transaction and the release of regulatory capital following the derecognition from the consolidated balance sheet of assets belonging to TSB and its subsidiaries, Banco Sabadell will generate a capital surplus
significantly above the threshold set by its Board of Directors for the distribution of excess capital (set at a fully-loaded CET1 ratio of 13%, applying the regulatory implementation calendar of the output floor on a consolidated basis), allowing
the distribution of a substantial portion of this capital surplus to its shareholders while at the same time maintaining an estimated CET1 level above said threshold following its payment. As a result, at the same meeting where the Board resolved to
submit the sale of TSB to shareholders for approval at an Extraordinary General Meeting, the Board of Directors of Banco Sabadell also agreed to propose the distribution of an extraordinary cash dividend, as described in Note 3.

A-67

Schedule I - Changes in the scope of consolidation During the first half of 2025, there have been no additions to the scope of consolidation. Companies no