Company: BBVXF
Filing Date: 2025-09-09
Form Type: 424B3
Source: 0001193125-25-198517
Chunk: 473

Company: BANCO BILBAO VIZCAYA ARGENTARIA, S.A.
Filing Date: 2025-09-09
Form: 424B3
Chunk 473
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. The Constitutional Court declared, in its ruling 11/2024 dated 18 January 2024, published in the Official State Gazette ( Boletín Oficial del Estado) on 20 February 2024, that certain measures related to corporation tax introduced by Royal Decree-Law3/2016 of 2 December were unconstitutional. Those measures were reintroduced in Law 7/2024 of 20 December, which is applicable to the financial year 2024. As at 31 December 2024, the Group had deferred tax assets not recognised in the balance sheet for unused tax losses in the amount of 420,324 thousand euros and deductions amounting to 10,887 thousand euros. Monetisable tax assets are guaranteed by the State. Therefore, their recoverability does not depend on the generation of future tax benefits. Years subject to tax inspection As at 31 December 2024, corporation tax for the consolidated tax group in Spain was open to review for 2020 and subsequent years. In relation to Value Added Tax (VAT) corresponding to entities forming part of the VAT group in Spain, 2020 and subsequent periods were open to review. The review of all taxes not verified and not required in accordance with the corresponding tax regulations is still pending for other Group entities that are not taxed within the consolidated tax group or the VAT group in Spain. Proceedings In January 2022, the State Agency for Tax Administration (Administración Estatal de Administración Tributaria, or AEAT) gave notice to Banco Sabadell, as the parent company of the consolidated tax group, of the commencement of verification and investigation proceedings in relation to the main taxes affecting the Group and three of its subsidiaries 5. Specifically, the items and periods listed below:

| – | Corporation Tax for the years 2015 to 2019. |

| – | Capital contribution associated with the conversion of deferred tax assets into credit eligible for the Spanish Tax 
 Authority (Capital Contribution) for the years 2016 to 2019.                                                        |

| – | Value Added Tax (VAT) for the years 2018 and 2019. |

| 5 | Sabadell Digital, S.A.U., Sabadell Real Estate Development, S.L.U., and Tenedora de Inversiones y Participaciones, S.L. |

A-284

| – | Withholdings and payments on account (employment income, income from movable capital) for the years 2018 and 2019