Company: BBVXF
Filing Date: 2025-07-31
Form Type: F-3ASR
Source: 0001193125-25-170429
Chunk: 156

Company: BANCO BILBAO VIZCAYA ARGENTARIA, S.A.
Filing Date: 2025-07-31
Form: F-3ASR
Chunk 156
---
 subject to the limitations on payment set out under, the provisions described under
“—Payments—Distributions”); and

104

(e) are listed or admitted to trading on any stock exchange as selected by BBVA, provided that such series of contingent convertible preferred securities was listed or admitted to trading on a stock exchange immediately prior to the relevant substitution or modification pursuant to the provisions described in this section “ —Substitution and Modification”. Modifications and Waivers Modification of the Indentures without Consent of Holders BBVA and the trustee may make certain modifications and amendments to the contingent convertible preferred securities indenture and any applicable supplemental indenture with respect to any series of contingent convertible preferred securities without the consent of the holders of such contingent convertible preferred securities for any of the following purposes:

| • |     | to evidence the assumption by a successor person of the covenants of BBVA in the contingent convertible preferred 
 securities indenture and in the contingent convertible preferred securities of any series;                        |

| • |     | to add to the covenants of BBVA for the benefit of the holders of all or any series of contingent convertible                                                                                                                                        
 preferred securities (and, if such covenants are to be for the benefit of less than all series of contingent convertible preferred securities, stating that such covenants are expressly being included solely for the benefit of such series) or to 
 surrender any right or power conferred upon BBVA by the contingent convertible preferred securities indenture;                                                                                                                                       |

| • |     | to add any additional Enforcement Events; |

| • |     | to make changes to procedures relating to Conversion, delivery of the Common Shares, or ADSs, as applicable;                                                                                                                                              
 provided, however, that, unless such changes are made as a result of any change in, or amendment to, any relevant laws or regulations, no such change shall adversely affect the interests of the holders of outstanding contingent convertible preferred 
 securities of any series in any material respect;                                                                                                                                                                                                         |

| • |     | to add to, change or eliminate any of the provisions of the contingent convertible preferred securities                                                                                                                                             
 indenture, or any supplemental indenture; provided, however, that any such addition, change or elimination shall become effective only when there is no outstanding contingent convertible preferred security of any series created prior to the    
 execution of such supplemental indenture effecting such addition, change or elimination which would be adversely affected in any material respect by such addition, change or elimination and in respect of which such supplemental indenture would 
 apply;                                                                                                                                                                                                                                              |