Company: BBVXF
Filing Date: 2025-07-31
Form Type: F-3ASR
Source: 0001193125-25-170429
Chunk: 45

Company: BANCO BILBAO VIZCAYA ARGENTARIA, S.A.
Filing Date: 2025-07-31
Form: F-3ASR
Chunk 45
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 or determined by us is the most favorable rate and neither it nor we will be liable for any direct or indirect losses associated with the rate. Limitations on Obligations and Liability to BBVA ADS Holders The deposit agreement expressly limits BBVA’s obligations and the obligations of the depositary, and it limits BBVA’s liability and the liability of the depositary. BBVA and the depositary:

| • |     | are only obligated to take the actions specifically set forth in the deposit agreement without negligence or bad 
 faith;                                                                                                           |

| • |     | are not liable for any action or inaction if either relies upon the advice of, or information from, legal                                                    
 counsel, accountants, any person presenting shares for deposit, any holder, or any other person believed to be competent to give such advice or information; |

| • |     | are not liable if either is prevented or delayed by law or circumstances beyond their control from performing 
 their obligations under the deposit agreement;                                                                |

| • |     | are not liable if either exercises discretion permitted under the deposit agreement; |

| • |     | have no obligation to become involved in a lawsuit or other proceeding related to the BBVA ADSs or the deposit 
 agreement on behalf of holders of BBVA ADSs or on behalf of any other party; and                               |

| • |     | may rely upon any documents they believe to be genuine and to have been signed or presented by the proper party. |

The depositary will not be liable for its failure to carry out any instructions to vote BBVA’s securities or for the effects of any such vote. Other General Limitations on Liability to BBVA ADS Holders None of the depositary, its agents, nor BBVA will incur any liability if prevented or delayed in performing its obligations under the deposit agreement by reason of:

| • |     | any present or future law; |

| • |     | any act of God; |

| • |     | a war; |

| • |     | the threat of any civil or criminal penalty; or |

| • |     | any other circumstances beyond their respective control. |

33

The obligations and liabilities of BBVA and its agents and the depositary and its agents under the deposit agreement are expressly limited to performing their respective obligations specifically set forth and undertaken by them to perform in the deposit agreement without negligence or bad faith. In the deposit agreement, BBVA and the depositary agree to indemnify each other under certain circumstances. General The depositary will act