Company: BBVXF
Filing Date: 2025-02-27
Form Type: F-4/A
Source: 0001193125-25-037317
Chunk: 120

Company: BANCO BILBAO VIZCAYA ARGENTARIA, S.A.
Filing Date: 2025-02-27
Form: F-4/A
Chunk 120
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 information. BBVA estimates that following completion of the intended merger, the combined group will have total assets above €1 trillion and more than 100 million customers worldwide.

| • |     | The creation of a franchise that not only combines the financial results of BBVA, with an attributable profit of                                                                                                                                     
 €10,054 million, a ROTE of 19.7%, an NPA ratio of 3.0% and a CET1 ratio of 12.88% (in each case, as of or for the year ended December 31, 2024, as applicable), and Banco Sabadell, which ended 2024 with an attributable profit of                  
 €1,827 million, a ROTE of 14.9%, an NPA ratio of 2.8% and a CET1 ratio of 13.0% as of or for such year, as applicable, to reach a pro forma 2024 ROTE of 19.4%. Additionally, the estimated CET1 ratio as of December 31, 2024, on a                 
 fully-loaded basis (if the exchange offer had been completed and assuming acceptance by holders of Banco Sabadell shares representing 100% of the share capital of Banco Sabadell and reflecting the impact of restructuring costs), would have been 
 12.37%.                                                                                                                                                                                                                                              |

| • |     | The combination of very complementary businesses, both in terms of geographical diversification, which would                                                                                                                                       
 increase BBVA’s Eurozone exposure by five percentage points, in terms of total assets, and by nine percentage points, in terms of attributable profit, and in terms of the positioning in different client segments in Spain, where Banco Sabadell 
 has more weight in SMEs (market share of 12.9%, compared to BBVA’s market share of 12.0%) and BBVA has more weight in the retail segment (market share of 14.8%, compared to Banco Sabadell’s market share of 6.5%, including                      
 mortgages and consumer loans) and in large enterprises, in each case, based on 2024 figures. This geographic and client segment positioning diversification is expected to make the combined group more resilient to macroeconomic impacts.        |

The combined group would also be more geographically diverse, and would have a more balanced loan portfolio, with 49% of the portfolio in loans to retail customers (compared to 50% and 46% for BBVA and Banco Sabadell, respectively),