Company: BBVXF
Filing Date: 2025-08-12
Form Type: DRS
Source: 0000950123-25-007520
Chunk: 216

Company: BANCO BILBAO VIZCAYA ARGENTARIA, S.A.
Filing Date: 2025-08-12
Form: DRS
Chunk 216
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 financial institutions; |

| • |     | insurance companies; |

| • |     | dealers or electing traders in securities that use a mark-to-market method of tax accounting; |

| • |     | persons that hold Banco Sabadell shares, or that will hold BBVA shares or BBVA ADSs, as part of a 
 “straddle”, conversion transaction or integrated transaction;                                     |

| • |     | persons whose “functional currency” is not the U.S. dollar; |

| • |     | tax exempt entities, “individual retirement accounts” or “Roth IRAs”; |

| • |     | partnerships or other entities classified as partnerships for U.S. federal income tax purposes or partners 
 therein;                                                                                                   |

| • |     | persons that own or are deemed to own, by vote or value, 5% or more of the shares of Banco Sabadell or BBVA; |

| • |     | persons that acquired Banco Sabadell shares pursuant to the exercise of an employee stock option or otherwise as                                                        
 compensation; or persons that hold Banco Sabadell shares, or that will hold BBVA shares or BBVA ADSs, in connection with a trade or business outside the United States. |

If an entity that is classified as a partnership for U.S. federal income tax purposes owns Banco Sabadell shares or BBVA shares or BBVA ADSs, the U.S. federal income tax treatment of a partner in the partnership will generally depend on the status of the partner and the activities of the partnership. Entities classified as partnerships for U.S. federal income tax purposes and partners in such partnerships should consult their tax advisers as to the particular U.S. federal income tax consequences of exchanging Banco Sabadell shares pursuant to the exchange offer and the ownership and disposition of BBVA shares or BBVA ADSs in their specific circumstances. The following discussion is based on the Internal Revenue Code of 1986, as amended (the “Code”), administrative pronouncements, judicial decisions, final, temporary and proposed Treasury Regulations, and the income tax treaty between the United States and Spain (the “Treaty”), all as of the date of this offer to exchange/prospectus, changes to any of which may affect the tax consequences described herein, possibly with retroactive effect. This summary does not address alternative minimum or Medicare contribution tax considerations, the special tax accounting rules under Section 451(b) of the Code, or U.S. federal taxes other than those pertaining to 148

As confidential