Company: BBVXF
Filing Date: 2025-09-05
Form Type: F-4/A
Source: 0001193125-25-196513
Chunk: 199

Company: BANCO BILBAO VIZCAYA ARGENTARIA, S.A.
Filing Date: 2025-09-05
Form: F-4/A
Chunk 199
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lex, facsimile transmission and
delivery charged incurred at the request of persons depositing BBVA shares; and transfer, brokerage or registration fees for the registration of transfers of deposited BBVA shares on any applicable register, in each case payable in connection with
the deposit of BBVA shares. Timing for the delivery for BBVA ADSs will depend upon the satisfaction of conditions for deposit of BBVA shares under the Deposit Agreement, including delivery of any required instructions and evidence of ownership and
payment of the aforementioned fees, as well as the procedures used by any broker assisting the relevant holder with the exchange of BBVA shares for BBVA ADSs.

Spanish Tax Consequences for U.S. Shareholders

General

The description below
summarizes certain material Spanish taxation considerations, is intended as a general guide and applies only to (i) holders exchanging their Banco Sabadell shares for BBVA shares and the exchange offer cash consideration pursuant to the
exchange offer; and (ii) the ownership and disposition of BBVA shares received pursuant to the exchange offer. The description below is based on Spanish law currently in force, which is subject to change, even with retroactive effect.

The following description will apply to holders of Banco Sabadell shares (i) who are tax residents of the United States for the purposes
of the Double Taxation and the Prevention of Fiscal Evasion treaty with respect to taxes on income, signed in Madrid on February 22, 1990, together with a related protocol signed on January 14, 2013 (the “United States-Spain
Treaty”), and are fully entitled to its benefits, without any limitation; and (ii) do not carry on business activities through a permanent establishment (as defined in the United States-Spain Treaty) in Spain to which their BBVA shares or
Banco Sabadell shares, as the case may be, are effectively connected, nor act through a non-cooperative jurisdiction for Spanish tax purposes (as defined in the Order HFP/115/2023, of February 9) (a
“Qualifying Shareholder”).

This summary is not a complete analysis or description of all the possible tax consequences for
holders of Banco Sabadell shares and the acquisition, ownership and disposition of BBVA shares and does not address all tax consequences that may be relevant to all categories of potential investors (such as pension funds, undertakings for
collective investment, etc.), some of whom may be subject to special rules. In particular, this tax