Company: BBVXF
Filing Date: 2025-01-08
Form Type: 424B5
Source: 0001193125-25-003393
Chunk: 165

Company: BANCO BILBAO VIZCAYA ARGENTARIA, S.A.
Filing Date: 2025-01-08
Form: 424B5
Chunk 165
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 or reduced withholding tax rate pursuant to the NRIT Law or an applicable Double Tax Treaty
(“DTT”) signed by Spain, subject to certain requirements.

Wealth Tax

Individuals resident in a country with which Spain has entered into a DTT in relation to Wealth Tax would generally not be subject to such tax.
Otherwise, non-Spanish resident individuals whose properties and rights are located in Spain, or that can be exercised within the Spanish territory, exceed €700,000 would be subject to Wealth Tax at the
applicable rates, ranging between 0.2 % and 3.5%, without prejudice to any exemption or reductions which may apply. Therefore, such individuals should take into account the value of the Preferred Securities which they hold as of
December 31 in each year.

In accordance with Additional Provision 4 of the Wealth Tax Law as amended by Law 11/2021 of July 9, non-resident taxpayers will be entitled to the application of specific regulations approved by the Autonomous Community where the greater value of the assets and rights they own and for which the tax is required is
located, can be exercised or must be fulfilled in Spanish territory.

As a complement to Wealth Tax the Spanish government has introduced
a solidarity Tax on Major fortunes that applies to Wealth of individuals in excess of €3,000,000 with rates from 1.7% to 3.5%. The amount of this tax can be reduced by the effective amount of Wealth Tax paid. Although the tax was initially
created only to apply in fiscal years 2023 and 2024, the application of the tax has been extended indefinitely, by virtue of Royal Decree-law 8/2023 of December 27.

S-102

Legal entities are not subject to Wealth Tax. Inheritance and Gift Tax The transfer of the Preferred Securities to individuals by inheritance, legacy or donation shall be subject to the general rules of Inheritance and Gift Tax in accordance with the applicable Spanish and State rules even if title passes outside Spain and neither the heir nor the beneficiary, as the case may be, is resident in Spain for tax purposes, without prejudice to the provisions of any DTT signed by Spain. If no DTT is applicable, individuals who do not have tax residency in Spain who acquire ownership or other rights over the Preferred Securities by inheritance, gift or legacy will be subject to Inheritance and Gift Tax in accordance with Spanish legislation, to the extent that rights deriving from the Preferred Securities can be exercised within Spanish territory. According to the