Company: BBVXF
Filing Date: 2025-09-09
Form Type: 424B3
Source: 0001193125-25-198517
Chunk: 107

Company: BANCO BILBAO VIZCAYA ARGENTARIA, S.A.
Filing Date: 2025-09-09
Form: 424B3
Chunk 107
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| Basic and diluted earnings (losses) per share from continuing operations (in euros)                 |     |                              |    1.68 |   |     |             |     |     |            |    1.69 |   |

Possibility of control of Banco Sabadell with less than 50% of Banco Sabadell’s voting rights BBVA is undertaking the exchange offer in order to acquire control of Banco Sabadell. If BBVA does not control Banco Sabadell immediately following completion of the exchange offer, it is possible that BBVA will subsequently obtain control of Banco Sabadell as a result of a Mandatory Tender Offer. In addition, following a Mandatory Tender Offer, BBVA will be permitted under Spanish law to acquire any untendered Banco Sabadell shares in the open market or otherwise in an unlimited amount and could obtain control of Banco Sabadell as a result of such acquisitions. The execution, timing and manner of any such additional acquisitions will depend on many factors, including business developments, macroeconomic developments and conditions, and prevailing market conditions. While there would be a presumption against control under applicable accounting standards if BBVA holds less than 50% of Banco Sabadell’s voting rights, BBVA believes it would be possible to, but can provide no assurance that it would be able to, control Banco Sabadell with less than 50% of Banco Sabadell’s voting rights (a “Non-Majority Control Scenario”). Whether control can ultimately be established for purposes of consolidation of Banco Sabadell’s financial position and results of operations following completion of the exchange offer will depend on the number of Banco Sabadell shares tendered and not withdrawn in the exchange offer and other facts and circumstances existing at such time, including, among other things, participation levels in Banco Sabadell’s general shareholders’ meetings and changes in Banco Sabadell’s shareholder base. See “The Exchange Offer—Conditions to Completion of the Exchange Offer—Potential Waiver by BBVA of the Minimum Acceptance Condition—Acquisition of control of Banco Sabadell”. 75

The consolidation of Banco Sabadell’s financial position and results of operations in
a Non-Majority Control Scenario would be similar to the consolidation in the Full Acquisition Scenario and 50% Acceptance Scenario presented above. With respect to the combined unaudited condensed consolidated pro forma balance sheet, the most
relevant differences between the Full Acquisition Scenario and the 50% Acceptance Scenario, on the one hand, and the Non