Company: BBVXF
Filing Date: 2025-09-09
Form Type: 424B3
Source: 0001193125-25-198517
Chunk: 218

Company: BANCO BILBAO VIZCAYA ARGENTARIA, S.A.
Filing Date: 2025-09-09
Form: 424B3
Chunk 218
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abilities that may be incurred in connection with the exchange offer is necessarily limited. Additionally, any errors or omissions in the information publicly available to BBVA relating to Banco Sabadell may have affected BBVA’s analysis,
estimations and determinations with respect to the exchange offer”.

BBVA estimates that such merger would be consummated in a
period of between six to eight months from the adoption of the necessary corporate resolutions by both entities. Such merger would occur only following the No-merger Period, although a merger may be possible sooner if the Autonomy Condition is
declared void as a result of the Administrative Appeal. See “The Exchange Offer—Antitrust Authorizations—Spanish Antitrust Authorization”. Any such merger would need BBVA’s and Banco Sabadell’s respective boards
of directors to

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formulate a joint merger plan, which would need to be approved by BBVA’s and Banco Sabadell’s respective shareholders. Pursuant to the provisions of the Regulation, Supervision and Solvency of Credit Institutions Law, such merger will require the prior authorization of the Spanish Minister of Economy, Trade and Business. Such authorization with respect to the merger from the Spanish Minister of Economy, Trade and Business is separate and distinct from the Council of Ministers’ Authorization. If BBVA waives the Minimum Acceptance Condition and, as a result, does not obtain control of Banco Sabadell following completion of the exchange offer, it may not be able to carry out the strategic plans described in this section “—Plans for Banco Sabadell after the Exchange Offer” or, where applicable, realize the corresponding synergies expected to be realized upon taking control of Banco Sabadell. 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” and “Risk Factors—Risks Relating to the Exchange Offer—If BBVA waives the Minimum Acceptance Condition and the exchange offer is completed, BBVA may not have control of Banco Sabadell immediately following completion of the exchange offer”. Strategic Plans and Intentions Regarding Future Activities and Location of the Banco Sabadell Group Following completion of the exchange offer, Banco Sabadell will continue to operate in the same manner as before completion of the exchange offer, at least during the No-merger Period (the length of which could be shortened if the Autonomy Condition is declared void as a result of the Administrative Appeal, see “The Exchange Offer—