Company: BBVXF
Filing Date: 2025-09-05
Form Type: F-4/A
Source: 0001193125-25-196513
Chunk: 277

Company: BANCO BILBAO VIZCAYA ARGENTARIA, S.A.
Filing Date: 2025-09-05
Form: F-4/A
Chunk 277
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MV’s register under number 33,736
announcing an adjustment of the consideration under the tender offer as a result of Banco Sabadell’s final dividend charged to earnings for 2024, establishing, as from 26 March 2025 (ex-dividend date), an exchange ratio of one newly
issued ordinary share of BBVA and 0.29 euros in cash for every 5.3456 ordinary shares of Banco Sabadell that accept the offer. In addition, it announced a further adjustment of the exchange ratio as a result of BBVA’s final dividend charged to
earnings for 2024, establishing, as from 8 April 2025 (ex-dividend date), an exchange ratio of one newly issued ordinary share of BBVA and 0.70 euros in cash for every 5.3456 ordinary shares of Banco
Sabadell that accept the offer.

On 5 July 2024, during BBVA’s Extraordinary General Meeting, shareholders approved an increase of
its share capital through the issuance of ordinary shares, up to a maximum par value of 551,906,524.05 euros, with non-cash contributions in order to cover the consideration in kind of the voluntary tender
offer put forward by BBVA for the acquisition of up to 100% of Banco Sabadell’s shares.

Later, in September 2024, BBVA obtained
authorisation from the UK’s Prudential Regulation Authority (PRA) for the acquisition of indirect control over TSB and the ECB’s decision not to oppose the takeover of Banco Sabadell.

On 30 April 2025, the CNMC’s Board approved the economic concentration between BBVA and Banco Sabadell in phase two, subject to certain
commitments undertaken by BBVA. Subsequently, on 24 June 2025, the Spanish Council of Ministers authorised the aforementioned concentration in phase three, with a condition additional to the BBVA commitments previously accepted by the CNMC.
This condition was based on various criteria of public interest.

As at the sign-off date of these
condensed consolidated interim financial statements, the tender offer remains pending receipt of regulatory authorisation from the CNMV. It also remains pending acceptance of the offer, if it reaches this stage, by a number of shares that allows
BBVA to acquire at least more than half of the effective voting rights of Banco Sabadell at the end of the offer acceptance period (therefore excluding any treasury shares held by Banco Sabadell at