Company: BBVXF
Filing Date: 2025-07-31
Form Type: F-3ASR
Source: 0001193125-25-170429
Chunk: 10

Company: BANCO BILBAO VIZCAYA ARGENTARIA, S.A.
Filing Date: 2025-07-31
Form: F-3ASR
Chunk 10
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 Group may have indemnification obligations, as well as legal and regulatory actions and 
 proceedings against other financial institutions, especially if such actions or proceedings result in rulings that affect the industry generally or lead to changes in the Group’s practices;                                                  |

| • |     | actions that are incompatible with our ethics and compliance standards, and our failure to timely detect or 
 remedy any such actions;                                                                                    |

| • |     | our success in managing the risks involved in the foregoing, which depends, among other things, on the adequacy                                                                                                                                          
 of our internal risk models and our ability to anticipate events that are not captured or fully accounted for in the models we use or which otherwise requires us to successfully adjust our risk parameters, risk appetite framework and estimations to 
 account for the foregoing and any changes in market conditions; and                                                                                                                                                                                      |

| • |     | force majeure and other events beyond our control. |

Readers are cautioned not to place undue reliance on forward-looking statements. In addition, the forward-looking statements made in this prospectus speak only as of the date of this prospectus. We undertake no obligation to publicly update or revise these forward-looking statements to reflect events or circumstances after the date thereof, including, without limitation, changes in our business, strategy, targets or expectations, including as a result of the occurrence of unanticipated events. You should, however, consult any further disclosures of a forward-looking nature we may make in our other documents filed with, or furnished to, the SEC that are incorporated by reference into this prospectus. 7

RISK FACTORS

Prospective investors should consider carefully the risk factors contained in the applicable prospectus supplement and the documents
incorporated by reference into this prospectus, including, but not limited to, those risk factors in “Item3. Key Information—Risk Factors” in our 2024 Form 20-F, when
deciding whether to invest in the securities being offered pursuant to this prospectus. Investing in the securities involves risks. Any of the risks described herein, in the applicable prospectus supplement or in any other documents incorporated by
reference into this prospectus, including the 2024 Form 20-F and 1H25 Form 6-K, if they actually occur, could materially and adversely affect our business, results of
operations, prospects and financial condition and the value of your investments.

There may be additional risks that BBVA currently
considers not to be material or of which it is not currently aware, and any of these risks could