Company: BBVXF
Filing Date: 2025-08-12
Form Type: DRS
Source: 0000950123-25-007520
Chunk: 181

Company: BANCO BILBAO VIZCAYA ARGENTARIA, S.A.
Filing Date: 2025-08-12
Form: DRS
Chunk 181
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—Impact of the Acquisition of Control of
Banco Sabadell on the BBVA Group’s CET1 Ratio—50% Acceptance Scenario”, BBVA estimates that, if the exchange offer were accepted by holders of Banco Sabadell shares representing 30% of the share capital of Banco Sabadell (for purposes
of this section, the “30% Acceptance Scenario”) and the exchange offer were completed as a result of a waiver of the Minimum Acceptance Condition, and BBVA had control of Banco Sabadell upon completion of the exchange offer, the estimated
impact on the CET1 ratio of the BBVA Group as of June 30, 2025, on a fully-loaded basis, would be a negative impact of 56 basis points.

Such estimate reflects the net result of a combination of certain positive and negative impacts on the BBVA Group’s solvency.
Specifically, negative impacts include impacts of approximately 226 basis points from the consolidation of Banco Sabadell’s risk-weighted assets, 34 basis points from intangible assets, and 21 basis points from other prudential deductions.
Positive impacts include a positive impact of 78 basis points resulting from goodwill or badwill and the capital increase (resulting from the exchange offer) and 148 basis points from minority interests. The estimated potential cost—based on
publicly-available information—of terminating Banco Sabadell’s alliances and other commercial agreements discussed under “—Plans for Banco Sabadell after the Exchange Offer—Strategic Plans and Intentions Regarding Future
Activities and Location of the Banco Sabadell Group” is included within the goodwill or badwill impacts mentioned above.

As a result
of the foregoing, the estimated CET1 ratio of the BBVA Group as of June 30, 2025, in the 30% Acceptance Scenario (excluding 290,871,859 Banco Sabadell shares held in treasury as of August 1, 2025, based on information published by Banco
Sabadell on August 4, 2025), would have been 12.78%.

BBVA estimates that the consummation of the TSB Sale and payment of the TSB
Sale Dividend following completion of the exchange offer would have a positive impact on the BBVA Group’s CET1 ratio of 26 basis points in the 30% Acceptance Scenario under the assumptions described above. As a result, the cumulative impact of
the exchange offer on the BBVA Group’s CET1 ratio would be