Company: BBVXF
Filing Date: 2025-09-09
Form Type: 424B3
Source: 0001193125-25-198517
Chunk: 222

Company: BANCO BILBAO VIZCAYA ARGENTARIA, S.A.
Filing Date: 2025-09-09
Form: 424B3
Chunk 222
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 the group’s branch
network in Spain, with such rationalization being limited to less than 10% of the combined network. Such rationalization would result in the closure of approximately 300 of the 683 branch offices within a proximity of less than 300 meters identified
in the combined group network.

Additionally, on July 1, 2025, Banco Sabadell published the TSB Sale Inside Information Notice, informing
that it had received a binding offer for the consummation of the TSB Sale, and announcing its decision to call an extraordinary general shareholders’ meeting to approve the TSB Sale and the payment of the TSB Sale Dividend. According to the
TSB Sale Inside Information Notice, the TSB Sale is subject to the satisfaction of certain conditions precedent, including the authorization of the TSB Sale by Banco Sabadell’s extraordinary general shareholders’ meeting. On August 6,
2025, extraordinary general shareholders’ meetings of Banco Sabadell (i) authorized the TSB Sale and (ii) approved the payment of the TSB Sale Dividend, respectively. Closing of the TSB Sale is expected to occur in the first quarter of
2026. For additional information on the TSB Sale and the potential consequences of the TSB Sale, see “The Exchange Offer—TSB Sale” and “Risk Factors—Risks Relating to the Exchange Offer—If the exchange offer is
completed and the TSB Sale is consummated, TSB will, following consummation of the TSB Sale, no longer be part of the BBVA Group. Additionally, the exchange ratio for the exchange offer would be adjusted as a result of the payment of the TSB Sale
Dividend only if the ex-dividend date occurs prior to the date of publication of the results of the exchange offer in the Official Quotation Bulletins. Given that, according to the TSB Sale Inside Information Notice, the closing of the TSB
Sale is expected to occur in the first quarter of 2026, the exchange ratio is not expected to be adjusted as a result of the payment of the TSB Sale Dividend”, respectively.

BBVA provides no assurance that the TSB Sale will be consummated despite the approval of the extraordinary general shareholders’ meeting
of Banco Sabadell. In addition to unforeseen developments that could prevent the TSB Sale from closing, the TSB Sale is subject to certain closing conditions, all of which must be satisfied by July 1, 2026.