Company: BBVXF
Filing Date: 2025-01-08
Form Type: 424B5
Source: 0001193125-25-003393
Chunk: 163

Company: BANCO BILBAO VIZCAYA ARGENTARIA, S.A.
Filing Date: 2025-01-08
Form: 424B5
Chunk 163
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be refundable pursuant to Section 103 of the Personal Income Tax Law.

Wealth Tax

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 (Comunidad Autónoma), at the applicable rates, ranging between 0.2% and 3.5%, on the value of the Preferred Securities which
they hold as at the end of the relevant fiscal year.

As a complement to Wealth Tax the Spanish government has introduced a solidarity Tax
on Major fortunes that applies to Wealth of individuals in excess of €3,000,000 with rates from 1.7 to 3.5%. The amount of this tax can be reduced by the effective amount of Wealth Tax paid. Although the tax was initially created only to apply
in fiscal years 2023 and 2024, the application of the tax has been extended indefinitely, by virtue of Royal Decree-law 8/2023 of December 27.

Inheritance and Gift Tax

Individuals resident in Spain for tax purposes who acquire ownership or other rights over the Preferred Securities by inheritance, gift or
legacy will be subject to Spanish Inheritance and Gift Tax in accordance with the applicable Spanish regional and state rules. The effective State tax rates currently range between 0% and 81.6%, depending on relevant factors.

Legal Entities with Tax Residency in Spain

Corporate Income Tax

Both
interest periodically received and income derived from the transfer, redemption or repayment of the Preferred Securities are subject to CIT (at the current general tax rate of 25%) in accordance with the rules for this tax.

Pursuant to Article 44.5 of RD 1065/2007, any income derived from the Preferred Securities will be paid by the Issuer to Spanish CIT taxpayers
(which for the sake of clarity, include Spanish tax resident investment funds and Spanish tax resident pension funds) free of Spanish withholding tax provided that the relevant information about the Preferred Securities is submitted in the manner
detailed under “—Tax Reporting Obligations of the Issuer”.

In the case of Preferred Securities held by Spanish
resident entities and deposited with a Spanish resident entity acting as a depositary or custodian, income deriving from the transfer, redemption or repayment may be subject to withholding tax, currently at a rate of 19% withholding that will be
made the depositary or custodian,