THIS GUARANTEE is made on 11 July, 2024 by BANCO BILBAO VIZCAYA ARGENTARIA, S.A. (theGuarantee • July 10th, 2024 • MadridBBVA Global Markets B.V. (the "Issuer") and the Guarantor have entered into an amended and restated programme agreement dated 11 July, 2024 with, inter alias, the Dealers named therein (the "Programme Agreement", which expression includes the same as it may be amended, supplemented or restated from time to time) under which the Issuer proposes from time to time to issue Notes;