Company: BBVXF
Filing Date: 2025-01-08
Form Type: 424B5
Source: 0001193125-25-003393
Chunk: 162

Company: BANCO BILBAO VIZCAYA ARGENTARIA, S.A.
Filing Date: 2025-01-08
Form: 424B5
Chunk 162
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 for individuals and entities who are not resident for tax purposes in Spain which are subject to
Non-Resident Income Tax (“NRIT”) (Impuesto sobre la Renta de los no Residentes), Royal Legislative Decree 5/2004 of March 5 approving the consolidated text of the Non-Resident Income Tax Law, as amended (the “Non-ResidentIncome Tax Law”), Royal Decree 1776/2004 of July 30 approving the Non-Resident Income Tax Regulations as amended, Law 19/1991 of June 6 approving the Wealth Tax Law, Law 29/1987 of December 18 approving the Inheritance and Gift Tax Law and Law 38/2022, for the
establishment of temporary levies on energy and on financial credit institutions and introducing a temporary solidarity tax on large fortunes, as amended.

Consideration has also been given to Spanish legislation on the issuance of the Preferred Securities and debt securities (Law 10/2014) and RD
1065/2007.

Preferred Securities

Individuals with Tax Residency in Spain

Personal Income Tax

Income obtained by Holders who are PIT taxpayers, both as interest and income obtained in connection with the transfer, redemption or repayment
of the Preferred Securities, shall be considered income on investments

S-100

obtained from the assignment of an individual’s capital to third parties, as defined in Section 25.2 of the PIT Law, and therefore will be taxed as savings income at the applicable rate
(currently varying from 19% to 28%).

Pursuant to Article 44.5 of RD 1065/2007, if the Preferred Securities are registered with a clearing
system outside of Spain, any income derived from the Preferred Securities will be paid by the Issuer free of Spanish withholding tax provided that the relevant information about the Preferred Securities is submitted in the manner detailed in
“—Tax Reporting Obligations of the Issuer”. In addition, income obtained upon transfer, redemption or repayment of the Preferred Securities may also be paid free of Spanish withholding tax in certain circumstances.

Notwithstanding the above, withholding tax at the applicable rate of 19% may have to be deducted by other entities (such as depositaries,
institutions, or financial entities), provided that such entities are resident for tax purposes in Spain or have a permanent establishment in Spanish territory.

In any event, individual Holders may credit the withholding against their Personal Income Tax liability for the relevant fiscal year and may