Company: BBVXF
Filing Date: 2025-09-08
Form Type: 425
Source: 0001193125-25-198316
Chunk: 31

Company: BANCO BILBAO VIZCAYA ARGENTARIA, S.A.
Filing Date: 2025-09-08
Form: 425
Chunk 31
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The processing and settlement of the acquisition of the shares of Banco Sabadell in favor of BBVA included in the declarations of acceptance made in the Offer will be carried out by BBVA. 18

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.

| (ii) | Exchange of shares |

No later than the trading day following the publication of the result of the Offer in the Quotation Bulletins, BBVA will calculate the number of BBVA shares to be issued, taking into account the number of Banco Sabadell shares with which each Banco Sabadell shareholder has accepted the Offer and the Picos generated. Within two trading days following the publication of the result of the Offer in the Quotation Bulletins, BBVA will promote before Iberclear the performance of the necessary actions for the availability to BBVA of the Banco Sabadell shares that have accepted the Offer until their effective exchange for the newly issued BBVA shares that must be delivered as consideration. To this end, Iberclear will issue within three trading days from the date of publication of the result of the Offer a certificate attesting to the balance of the Banco Sabadell shares made available to BBVA for the settlement of the Offer and which, for BBVA, will be considered as delivery of the Banco Sabadell shares accepting the Offer for the purposes of the capital increase that will be held by BBVA, so that this capital increase will be understood to have been subscribed and paid up, through the contribution of the aforementioned Banco Sabadell shares.

| (iii) | Execution and registration in the Commercial Registry of BBVA’s capital increase |

Once the Banco Sabadell shares subject to acceptance of the Offer in favor of BBVA have been blocked and made available to BBVA and the corresponding certificate has been issued by Iberclear, foreseeably on the same day as the certificate is made available and no later than the following two trading days, the Board of Directors of BBVA or, where appropriate, the person or persons authorized for this purpose will proceed to execute the capital increase, agreeing to award the new newly issued shares of BBVA to the acceptors of the Offer, in accordance with the expected Exchange Ratio and the number of shares with which the acceptors have participated in the