Company: BBVXF
Filing Date: 2025-02-27
Form Type: F-4/A
Source: 0001193125-25-037317
Chunk: 160

Company: BANCO BILBAO VIZCAYA ARGENTARIA, S.A.
Filing Date: 2025-02-27
Form: F-4/A
Chunk 160
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Cash Payments in Respect of BBVA Dividends” above. If a U.S. Holder acquired different blocks of Banco Sabadell
shares at different times or at different prices, the BBVA shares received will be allocated pro ratato each block of Banco Sabadell shares, and the tax basis and holding period of each block of BBVA shares received will be determined on a
block-by-block basis depending on the tax basis and holding period of the block of Banco Sabadell shares exchanged for such block of BBVA

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shares. A U.S. Holder may be required to report certain information to the IRS on the U.S. Holder’s U.S. federal income tax return for the tax year in which the exchange occurs and to
maintain certain records related to the exchange.

Cash in Lieu of Fractional BBVA Shares

If a U.S. Holder receives cash in lieu of a fractional BBVA share, the U.S. Holder generally will be treated as having received such fractional
BBVA share pursuant to the Reorganization and then as having sold such fractional BBVA share for cash pursuant to a deemed redemption. As a result, provided that the redemption is not treated as “essentially equivalent to a dividend”, the
U.S. Holder generally will recognize gain or loss equal to the difference between the amount of cash received and the tax basis allocated to the fractional BBVA share, each as determined in U.S. dollars. Such gain or loss generally will be capital
gain or loss and will be long-term capital gain or loss if, as of the completion date, the U.S. Holder’s holding period for such fractional BBVA share (including the holding period of Banco Sabadell shares exchanged therefor) exceeds one year.
Long-term capital gains of non-corporate U.S. Holders generally are eligible for favorable rates of taxation. The deductibility of capital losses is subject to limitations.

Although in most cases the deemed redemption of fractional BBVA shares should not be treated as essentially equivalent to a dividend, each
U.S. Holder should consult its tax adviser regarding the treatment of the deemed redemption taking into account the U.S. Holder’s particular circumstances, including whether the U.S. Holder owns (or is deemed to own) BBVA shares or BBVA ADSs
before the exchange.

Consequences if the Exchange Offer is a Taxable Transaction

If the exchange offer does not qualify as part of a Reorganization, the receipt of BBVA shares, cash in lieu of fractional BBVA shares,