Company: BBVXF
Filing Date: 2025-08-12
Form Type: DRS
Source: 0000950123-25-007520
Chunk: 211

Company: BANCO BILBAO VIZCAYA ARGENTARIA, S.A.
Filing Date: 2025-08-12
Form: DRS
Chunk 211
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 are in any doubt as to their taxation position or obligations should consult their own professional advisors immediately. This summary of certain material Spanish taxation considerations is for general information only and is not tax advice. Qualifying Shareholders are urged to consult their tax advisors with respect to the application of the Spanish tax law to their particular situations, as well as any tax consequences arising under the laws of any foreign or other taxing jurisdiction or under any applicable tax treaty. Consequences of the Exchange Offer As a general rule, the exchange offer may be treated as realizing a capital gain in Spain and should not trigger any Spanish taxation (including Spanish Transfer Tax or Value Added Tax) for Qualifying Shareholders with the resultant reporting obligations described below. Please also see “—Consequences of the Acquisition, Ownership and Disposition of BBVA Shares—Taxation of Capital Gains or Losses”. Consequences of the Acquisition, Ownership and Disposition of BBVA Shares Taxation of Dividends As a general rule, dividends paid on BBVA shares to a Qualifying Shareholder will be subject to Spanish NRIT on the gross amount of the dividend, currently at a rate of 19%. Notwithstanding the above, the following exemptions or reduced rates may be applicable under Spanish tax law:

| • |     | U.S. Qualifying Shareholders may benefit from a 15% reduced rate of NRIT on the gross amount of the dividend,                                                                                                                                  
 subject to providing BBVA’s paying agent before the tenth day following the end of the month in which the dividends are distributable, with evidence of the tax residence of the Qualifying Shareholder by means of a valid certificate of tax 
 residence issued by the IRS stating that to their knowledge the Qualifying Shareholder is a tax resident subject to the United States-Spain Treaty (“Tax Treaty Certificates”). For Spanish tax purposes, such Tax Treaty Certificates are     
 generally valid for one year from the date the corresponding certificate is issued.                                                                                                                                                            |

| • |     | Qualifying Shareholders who do not provide the required documentation within the applicable time limits may                                                                                                                               
 alternatively be able to obtain a refund of the 4% difference between the domestic and the United States-Spain Treaty withholding tax rate by following the Standard Refund Procedure (as described below under “—Spanish Standard Refund 
 Procedure”).                                                                                                                                                                                                                              |

| • |     | Qualifying Shareholders will not be required to file a Spanish tax return in respect of dividends received on the 
 BBVA shares from which NRIT is withheld as described in the preceding paragraphs