Company: BBVXF
Filing Date: 2025-07-31
Form Type: F-3ASR
Source: 0001193125-25-170429
Chunk: 192

Company: BANCO BILBAO VIZCAYA ARGENTARIA, S.A.
Filing Date: 2025-07-31
Form: F-3ASR
Chunk 192
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Income obtained by holders who are IIT taxpayers, both as interest and income obtained in connection with the transfer, redemption or repayment
of the contingent convertible preferred securities, shall be considered income on investments obtained from the assignment of an individual’s capital to third parties, as defined in Section 25.2 of IIT Law, and therefore will be taxed as
savings income at the applicable rate (currently varying from 19% to 30%).

The above mentioned income will be subject to the
corresponding IIT withholding at the applicable tax rate (currently 19%).Under RD 1065/2007, income obtained in respect of the contingent convertible preferred securities will not be subject to withholding tax in Spain, provided certain
requirements are met, including that the relevant paying agent provides BBVA, in a timely manner, with certain information (see “—Tax Reporting and Withholding Obligations of the Issuer”).

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

Net Wealth Tax (Impuesto sobre el Patrimonio) and Tax on Large Fortunes (Impuesto Temporal de Solidaridad de las Grandes Fortunas)

Individuals with tax residency in Spain are currently subject to Wealth Tax to the extent that their net worth exceeds €700,000, without
prejudice to any exemption which may apply and the laws and regulations in force in each Autonomous Region, at the applicable rates, ranging between 0.2% and 3.5%, on the value of the relevant securities which they hold as at the end of the relevant
fiscal year.

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Notwithstanding the above, the Tax on Large Fortunes was approved in December 2022 and set
up on a temporary basis, exclusively for the tax periods 2022 and 2023. Nevertheless, based on Royal Decree-Law 8/2023, of December 27, the temporary application of the Tax on Large Fortunes has been
extended until the revision of wealth tax in Spanish autonomous regions, which would take place in the context of the reform of Spain’s regional financial system. The amount payable for this tax could be reduced by the amount paid for Wealth
Tax.

The rates of the Tax on Large Fortunes are (i) 1.7% on a net worth between €3,