Company: BBVXF
Filing Date: 2025-02-27
Form Type: F-4/A
Source: 0001193125-25-037317
Chunk: 154

Company: BANCO BILBAO VIZCAYA ARGENTARIA, S.A.
Filing Date: 2025-02-27
Form: F-4/A
Chunk 154
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/1991, of June 6, 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 is located and for which the tax is required, because these assets are located in Spain or the rights may be exercised in Spain.

In addition to wealth tax there is a temporary 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 deducted out of the quote of the wealth tax.

BBVA’s
shareholders are advised to seek their own professional advice in relation to the wealth tax (including for any filing and disclosure obligations).

Qualifying Shareholders who are non-Spanish resident corporations are not subject to Spanish wealth
tax.

Inheritance and Gift Tax

Unless an applicable convention for the avoidance of double taxation on inheritance or gift taxes provides otherwise (and the United
States-Spain Treaty does not so provide), the transfer of BBVA shares 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 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.

If no tax
treaty is applicable, non-Spanish tax resident individuals who acquire ownership or other rights over BBVA shares by inheritance, gift or legacy will be subject to inheritance and gift tax in accordance with
Spanish legislation. Non-Spanish tax resident individuals are subject to Spanish inheritance and gift tax according to the rules set forth in the relevant autonomous regions according to the law. As such,
prospective shareholders should consult their tax advisers.

The effective tax rate, after application of all relevant factors, ranges
between 0% and 81.6%.

Gifts granted to corporation Qualifying Shareholders are subject to NRIT at a 19% tax rate on the fair market value
of the BBVA shares as a capital gain. However, the exemptions available under the United States-Spain Treaty, described in “—Taxation of Capital Gains or Losses” above, will be applicable
to Qualifying Shareholders.

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Transfer Tax and VAT Subscription, acquisition and transfers of BBVA shares are exempt from Transfer Tax and Value Added Tax. Additionally, no stamp duty