Company: BBVXF
Filing Date: 2025-08-12
Form Type: DRS
Source: 0000950123-25-007520
Chunk: 212

Company: BANCO BILBAO VIZCAYA ARGENTARIA, S.A.
Filing Date: 2025-08-12
Form: DRS
Chunk 212
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Taxation of Share Premium Distribution Any amount received as a consequence of a share premium distribution by companies listed on a regulated market under the Directive 2004/39/EC of April 21, such as BBVA, should reduce the acquisition cost of the BBVA shares in respect of such share premium received. Any share premium in excess of the basis is treated as a dividend for NRIT purposes, being taxed as described above. 145

As confidentially submitted to the Securities and Exchange Commission on August 11, 2025. This Amendment No. 4 has not been publicly filed with the Securities and Exchange Commission and all information herein remains strictly confidential. Taxation of Pre-EmptiveRights Distributions to a Qualifying Shareholder of pre-emptiverights to subscribe for new BBVA shares are not treated as income under NRIT. The exercise of such pre-emptiverights is not considered a taxable event under NRIT. The proceeds derived from a transfer of pre-emptiverights by a Qualifying Shareholder will be regarded as a capital gain and subject to Spanish NRIT in the manner described under “—Taxation of Capital Gains or Losses” below. Taxation of Capital Gains or Losses As a general rule, any capital gains derived from securities issued by Spanish tax resident companies (including the BBVA shares) are deemed to be a Spanish source of income and, therefore, taxable in Spain. For NRIT purposes, income obtained from the disposal of BBVA shares will be treated as capital gains. Capital gains obtained upon the transfer of BBVA shares by non-Spanishresidents for tax purposes will be subject to NRIT at a general 19% rate. Capital gains or losses will be calculated separately for each transaction, and it is not possible to offset losses against capital gains. However, under the United States-Spain Treaty, capital gains realized upon the disposition of BBVA shares will not be taxed in Spain if the Qualifying Shareholder is tax resident of the United States within the meaning of the United States-Spain Treaty. Furthermore, capital gains derived from the disposition of BBVA shares on an official Spanish secondary stock market (such as the Madrid, Barcelona, Bilbao or Valencia Stock Exchanges) will be exempt from taxation in Spain if the corresponding Qualifying Shareholder is tax resident for the purposes of the corresponding treaty, as the case may be, provided the relevant treaty contains an “exchange of information” clause. Qualifying Shareholders must submit a Spanish tax form (