Company: BBVXF
Filing Date: 2025-09-05
Form Type: 425
Source: 0001193125-25-197292
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Company: BANCO BILBAO VIZCAYA ARGENTARIA, S.A.
Filing Date: 2025-09-05
Form: 425
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Filed by Banco Bilbao Vizcaya Argentaria, S.A. Pursuant to Rule 425 under the Securities Act of 1933 Subject Company: Banco de Sabadell, S.A. Commission File No.: 333-281111 2025-09-05 Tender Offer Banco Sabadell Transcript of Meeting with Analysts Company Participants

| ● |     | Carlos Torres Vila, Group Executive Chairman |

| ● |     | Maria Luisa Gomez Bravo, Global Head of Finance & Chief Financial Officer |

| ● |     | Onur Genc, Chief Executive Officer & Executive Director |

| ● |     | Patricia Bueno Olalla, Global Head of Shareholder & Investor Relations |

Other Participants

| ● |     | Antonio Reale, Bank of America |

| ● |     | Benjamin Toms, RBC Capital Markets |

| ● |     | Britta Schmidt, Autonomous Research LLP |

| ● |     | Carlos Joaquim Peixoto, CaixaBank BPI |

| ● |     | Cecilia Romero, Barclays |

| ● |     | Francisco Riquel, Alantra Equities Sociedad de Valores SA |

| ● |     | Hugo Cruz, KBW |

| ● |     | Ignacio Ulargui, Exane BNP Paribas |

| ● |     | Maksym Mishyn, JB Capital Markets |

| ● |     | Pablo de la Torre, RBC |

Presentation

| Patricia Bueno Olalla |

Good morning, and thank you for joining this audio webcast on BBVA’s offer to Sabadell shareholders. And apologies for the short notice. I am pleased to be joined today by our Chair, Carlos Torres Vila; our CEO, Onur Genc; the Group’s CFO, Luisa Gomez-Bravo; and our Head of Strategy and M&A, Victoria del Castillo. First, Carlos and Onur will provide an update on the transaction following the recent approval of the prospectus by the CNMV. After their remarks, we will move on to the Q&A session to take your questions. And with that, let me now hand it over to Carlos. Carlos, please.

| Carlos Torres Vila |

Thank you. Thank you, Patricia, and thank you, everyone. Good morning to all, and welcome. Thanks for joining, and our apologies for the short notice. But as you’ve seen, the CNMV, as just also Patricia mentioned, has approved our voluntary Tender Offer to Sabadell