Company: BBVXF
Filing Date: 2025-09-09
Form Type: 424B3
Source: 0001193125-25-198517
Chunk: 196

Company: BANCO BILBAO VIZCAYA ARGENTARIA, S.A.
Filing Date: 2025-09-09
Form: 424B3
Chunk 196
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 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 (as of the date of this offer to exchange/prospectus, Form 210) between January 1 and 20 of the year following accrual of the capital gain in question. In particular, where any of the exemptions mentioned above applies, the seller will be obliged to file with the Spanish tax authorities the relevant Spanish tax form together with the certificate of tax residence in the United States for the purposes of the United States-Spain Treaty, duly issued by the IRS evidencing its entitlement to the exemption. For Spanish tax purposes, such Tax Treaty Certificates are generally valid for one year from the date the certificate is issued. Spanish Standard Refund Procedure According to Spanish Regulations on NRIT, approved by Royal Decree 1776/2004, of July 20 and the Order dated December 17, 2010, a refund for the amount withheld in excess of the United States-Spain Treaty can be obtained from the relevant Spanish tax authorities. To pursue the refund claim, the Qualifying Shareholder is required to file:

| • |     | the applicable Spanish tax form (as of the date of this offer to exchange/prospectus, Form 210); |

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