Company: BBVXF
Filing Date: 2025-07-31
Form Type: F-3ASR
Source: 0001193125-25-170429
Chunk: 47

Company: BANCO BILBAO VIZCAYA ARGENTARIA, S.A.
Filing Date: 2025-07-31
Form: F-3ASR
Chunk 47
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 or when such action is deemed necessary or advisable by the depositary or BBVA at any time or from time to time. Holders have the right to cancel their BBVA ADSs and withdraw the underlying shares at any time except:

| • |     | when temporary delays arise because the depositary or BBVA has closed its transfer books or the deposit of shares 
 in connection with voting at a shareholders’ meeting or the payment of dividends;                                 |

| • |     | when BBVA ADS holders owe money to pay fees, taxes and similar charges; or |

| • |     | when it is necessary to prohibit withdrawals in order to comply with any laws or governmental regulations that 
 apply to BBVA ADSs or to the withdrawal of shares or other deposited securities.                               |

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This right of withdrawal may not be limited by any other provision of the deposit agreement.

The depositary, upon BBVA’s request or with BBVA’s approval, may appoint one or more
co-transfer agents for the purpose of effecting registrations of transfers, combinations and split-ups of BBVA ADSs at designated transfer offices on behalf of the
depositary. In carrying out its functions, a co-transfer agent may require evidence of authority and compliance with applicable laws and other requirements by holders of BBVA ADSs and will be entitled to
protection and indemnity to the same extent as the depositary.

Direct Registration System

In the deposit agreement, all parties to the deposit agreement acknowledge that the DRS and Profile Modification System (“Profile”)
will apply to uncertificated BBVA ADSs upon acceptance thereof to DRS by DTC. DRS is the system administered by DTC pursuant to which the depositary may register the ownership of uncertificated ADSs, which ownership will be evidenced by periodic
statements sent by the depositary to the registered holders of uncertificated ADSs. Profile is a required feature of DRS which allows a DTC participant, claiming to act on behalf of a registered holder of uncertificated ADSs, to direct the
depositary to register a transfer of those ADSs to DTC or its nominee and to deliver those ADSs to the DTC account of that DTC participant without receipt by the depositary of prior authorization from the ADS registered holder to register that
transfer.

In connection with the arrangements and procedures relating to DRS and Profile, the parties to the deposit agreement understand
that the depositary will not verify, determine or otherwise ascertain that the DTC participant that is claiming to be