Company: BBVXF
Filing Date: 2025-01-08
Form Type: 424B5
Source: 0001193125-25-003393
Chunk: 374

Company: BANCO BILBAO VIZCAYA ARGENTARIA, S.A.
Filing Date: 2025-01-08
Form: 424B5
Chunk 374
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 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. The United States and Spain have not entered into a DTT in relation to Inheritance Tax. The effective tax rate, after applying all relevant factors, ranges between 0% and 81.6%. 102

According to the Second Additional Provision of the Inheritance and Gift Tax Law, non-Spanishtax resident individuals may be subject to Spanish Inheritance and Gift Tax in accordance with the rules set forth in the relevant Autonomous Regions in accordance with the law. As such, prospective investors should consult their tax advisers. In the event that the beneficiary is an entity other than a natural person, the income obtained shall be subject to NRIT and without prejudice, in the latter event, to the provisions of any DTT that may apply. Tax Reporting and Withholding Obligations of the Issuer In accordance with Section 44 of RD 1065/2007, income obtained from debt securities which are originally listed on an organized market in an OECD country, will be paid free of Spanish withholding tax provided that the relevant paying agent provides BBVA with a statement containing the following information:

| (i) | identification of the securities; |

| (ii) | payment date; |

| (iii) | total amount of income paid on the relevant date; and |

| (iv) | total amount of the income corresponding to each clearing house located outside Spain. |

In accordance with Section 44.5, the relevant paying agent should provide BBVA with the statement referred to above on the business day immediately prior to the relevant payment of income. If the paying agent fails to deliver such statement on a timely basis, the related payment will be subject to Spanish withholding tax (currently at the general rate of 19%). If, before the tenth day of the month following the month in which interest is paid, the obliged entity provides the statement, BBVA will reimburse the amounts withheld. In the event that the currently applicable procedures are modified, amended or supplemented by, among other things, any Spanish law, regulation, interpretation or ruling of the Spanish tax authorities, BBVA will notify the relevant holders of such information procedures and their implications, as BBVA may be required to apply withholding tax on interest payments in respect of the securities if the relevant holders do not comply with such information procedures. Ordinary Shares The material Spanish tax consequences of the acquisition, ownership and disposition of ordinary shares into which