Company: BBVXF
Filing Date: 2025-02-27
Form Type: F-4/A
Source: 0001193125-25-037317
Chunk: 127

Company: BANCO BILBAO VIZCAYA ARGENTARIA, S.A.
Filing Date: 2025-02-27
Form: F-4/A
Chunk 127
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 a half of a euro cent, to the immediately higher euro cent. Under no circumstances will interest be paid on the
exchange offer cash consideration.

97

If Banco Sabadell makes any distribution of dividends, reserves or any other type of
distribution to its shareholders (regardless of whether it is an ordinary, extraordinary, interim or complementary distribution) prior to the settlement of the exchange offer or, if applicable, after the settlement of the exchange offer but before
the settlement of a subsequent squeeze-out transaction, the share exchange offered as consideration in the exchange offer or in such subsequent squeeze-out transaction,
or both, as applicable, will be adjusted accordingly by an amount equal to the gross amount of the distribution per Banco Sabadell share. The adjustment will be made taking into account the weighted average price per BBVA share during the
three-month period prior to the publication of BBVA’s announcement of its intention to make the exchange offer (that is, €10.24 per BBVA share) and the equivalent price per Banco Sabadell share resulting from the application of the
original exchange ratio of 4.83 (that is, €2.12 per Banco Sabadell share), reduced by the amount of any distribution of dividends, reserves or any other type of distribution by Banco Sabadell to Banco Sabadell’s shareholders after the date
of the publication of BBVA’s announcement of its intention to make the exchange offer but prior to the settlement of the exchange offer or, if applicable, after the settlement of the exchange offer but before the settlement of a subsequent
squeeze-out transaction. On October 1, 2024, Banco Sabadell paid a dividend of €0.08 per Banco Sabadell share and, as a result, the applicable exchange ratio was adjusted from the original exchange ratio of one newly-issued BBVA share for each
4.83 Banco Sabadell shares to one newly-issued BBVA share for each 5.0196 Banco Sabadell shares (which is the result of dividing €10.24 per BBVA share by €2.04 per ex-dividend Banco Sabadell share). On February 7, 2025, Banco
Sabadell announced a dividend of €0.1244 per Banco Sabadell share payable on March 28, 2025, which is subject to approval by Banco Sabadell’s general shareholders’ meeting. Such dividend, when paid, will result in an adjustment to the
exchange ratio from the prior exchange ratio of