Company: BBVXF
Filing Date: 2025-01-08
Form Type: 424B5
Source: 0001193125-25-003393
Chunk: 75

Company: BANCO BILBAO VIZCAYA ARGENTARIA, S.A.
Filing Date: 2025-01-08
Form: 424B5
Chunk 75
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 comply with increasing regulatory capital requirements imposed by applicable regulations, BBVA may need to raise
additional capital. Further capital raisings by BBVA could result in the dilution of the interests of the holders, subject only to the limited anti-dilution protections referred to above.

If a Delivery Notice and the relevant Preferred Securities are not duly delivered by a holder, any Common Shares underlying the relevant Preferred Securities will be sold and the proceeds therefrom distributed to that holder, and that holder will bear the risk of fluctuations in the price of the Common Shares until such Common Shares are sold.

In order to obtain delivery of the relevant Common Shares on Conversion, a holder must deliver a duly completed Delivery Notice together with
the Preferred Securities held by it in accordance with the provisions set out in the Indenture on or before the Notice Cut-off Date. If a duly completed Delivery Notice and the relevant Preferred Securities
are not received by the Paying and Conversion Agent as provided in the Indenture on or before the Notice Cut-off Date, then within ten Business Days following the Conversion Settlement Date, all Common Shares
held by the Conversion Shares Depository in respect of which the applicable Preferred Securities and a duly completed Delivery Notice have not been received on or before the Notice Cut-off Date as aforesaid
will be sold by or on behalf of the Selling Agent as soon as reasonably practicable and (subject to the deduction by or on behalf of the Selling Agent of any amount payable in respect of its liability to taxation and the payment of any capital,
stamp, issue, registration and/or transfer taxes and duties (if any) and any fees or costs incurred by or on behalf of the Selling Agent in connection with the sale and allotment thereof) the net proceeds of such sale shall as soon as reasonably
practicable be distributed pro rata to the relevant holders in accordance with the Indenture or in such other manner and at such time as we shall determine and notify to the relevant holders. Accordingly, if a Delivery Notice and the relevant
Preferred Securities are not so duly delivered, then a holder will bear the risk of fluctuations in the price of the Common Shares until such Common Shares are sold and the proceeds therefrom are distributed.

If the applicable Common Shares are not sold by the Selling Agent, the Conversion Shares Depositary will continue to hold the applicable
Preferred Securities until a Delivery Notice and the applicable Preferred Securities are duly delivered in accordance with the provisions set out in the Indenture. However, any holder delivering a Delivery Notice after the Notice Cut-off