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Recommendation of the Board of Directors of Banco Sabadell regarding the takeover bid

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The Chairman and the CEO of Banco Sabadell present the recommendation of Banco Sabadell’s Board of Directors regarding the takeover bid

Audiovisual material

Remarks by Sergio Palavecino on the potential management savings if the two entities have to be managed separately

Josep Oliu: “This hostile tender offer is dead in the water”

César González-Bueno: “BBVA has inherent risks that Banco Sabadell does not have. Most of BBVA’s profits come from emerging markets”

César González-Bueno’s statements on the difficulties that a potential second takeover bid would entail

Josep Oliu: “Banco Sabadell’s shares have more capacity to create shareholder value if the Bank remains a standalone entity than if we participate in the share exchange”

Josep Oliu’s statements on the tax impact that the tender offer would entail for shareholders

Josep Oliu: BBVA’s offer involves risks and uncertainty for shareholders