Company: BBVXF
Filing Date: 2025-02-27
Form Type: F-4/A
Source: 0001193125-25-037317
Chunk: 184

Company: BANCO BILBAO VIZCAYA ARGENTARIA, S.A.
Filing Date: 2025-02-27
Form: F-4/A
Chunk 184
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 the intended merger.

Plans Regarding the Structure, Composition, and Functioning of the Management Bodies of Banco Sabadell and the Banco Sabadell Group; Plans Regarding the Appointment of Members to These Bodies by BBVA

BBVA intends to reflect the controlling interest it may achieve after completion of the exchange offer in the composition of the management,
administration and control bodies of Banco Sabadell by appointing a number of directors corresponding to that controlling interest (which could result in BBVA appointing more than half of Banco Sabadell’s directors). BBVA also intends to
reflect the controlling interest in the composition of the committees of the board of directors of Banco Sabadell to the extent legally possible.

In this regard, as long as Banco Sabadell remains a listed company controlled by BBVA, BBVA intends to reduce the size of Banco
Sabadell’s board of directors to an appropriate number of members taking into account the circumstances after completion of the exchange offer, which in no event will be less than five members (amending, if necessary, Banco Sabadell’s
bylaws to reduce the minimum number of members of the board of directors, which is currently set at 11 members).

As long as Banco
Sabadell remains a listed company controlled by BBVA, BBVA shall ensure that Banco Sabadell maintains the number of independent directors necessary to comply with applicable law and the recommendations on good corporate governance of listed
companies, in particular, with regard to the appointment of independent directors.

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If Banco Sabadell’s shares are delisted from the Spanish Stock Exchanges as a
result of the exercise of the squeeze-out right provided for in article 47 of the Spanish Takeover Regulation, BBVA will carry out the changes deemed appropriate to adapt the board of directors of Banco
Sabadell to that of an unlisted company, subject to compliance with the regulations to which Banco Sabadell is subject as a credit institution, including with respect to the minimum number of independent directors required by applicable law.

Plans Regarding Amendments to Banco Sabadell’s Bylaws

BBVA does not plan to amend Banco Sabadell’s bylaws, except to reduce the number of members of Banco Sabadell’s board of directors
and to amend Banco Sabadell’s bylaws in order to align them with BBVA’s corporate policies.

Regulation

The ECB (together with the Bank of Spain through the Single Supervisory Mechanism) is BBVA’s and Banco Sabadell’s primary prudential