Company: BBVXF
Filing Date: 2025-09-05
Form Type: F-4/A
Source: 0001193125-25-196513
Chunk: 98

Company: BANCO BILBAO VIZCAYA ARGENTARIA, S.A.
Filing Date: 2025-09-05
Form: F-4/A
Chunk 98
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 combinations broken down in the condensed consolidated interim financial statements of Banco Sabadell as of and for the six months ended June 30, 2025 does not represent an identifiable asset that would be acquired upon completion of the exchange offer according to IFRS 3 “Business Combinations”. Accordingly, this value must be removed from the acquiring entity’s balance sheet before calculating the goodwill resulting from completion of the exchange offer. The negative adjustments made in the event of completion of the exchange offer under both the Full Acquisition Scenario and the 50% Acceptance Scenario amount to €1,018 million. 64

Additionally, based on financial information as of June 30, 2025, and taking into account the pro forma adjustments described in this section, the difference between the consideration offered and total equity as of June 30, 2025 would provisionally result in goodwill of €477 million in the Full Acquisition Scenario and €239 million in the 50% Acceptance Scenario, reflected in the combined unaudited condensed consolidated pro forma income statement and as shown in the below table:

|                                                                                                                                                                 |     | Full        
 Acquisition 
 Scenario    |        |   |     | 50%        
 Acceptance 
 Scenario   |        |   |
|                                                                                                                                                                 |     | -€ million  |        |   |     |            |        |   |
| Estimated transaction cost                                                                                                                                      |     |             | 12,454 |   |     |            |  6,227 |   |
| Minority interest recognition                                                                                                                                   |     |             |      — |   |     |            |  5,989 |   |
| Estimated fair value of assets and liabilities acquired                                                                                                         |     |             | 11,977 |   |     |            | 11,977 |   |
| Net equity attributable to Banco Sabadell                                                                                                                       |     |             | 13,743 |   |     |            | 13,743 |   |
| Of which: Net equity of Banco Sabadell as of June 30, 2025                                                                                                      |     |             | 14,491 |   |     |            | 14,491 |   |
| Of which: Minority interests as of June 30, 2025                                                                                                                |     |             |    (36 | ) |     |            |    (36 | ) |
| Of which: Dividends paid to shareholders of Banco Sabadell after June 30, 2025                                                                                  
 (corresponding