Telefónica Board of Directors and Committees Changes

Telefónica, S.A. announced changes in the composition of its Board of Directors and its Committees. Ms. Verónica Pascual Boé and Ms. María Rotondo Urcola resigned as Independent Directors for professional and personal reasons, respectively. The Board expressed gratitude for their services and noted that Ms. Pascual Boé will continue on the Advisory Board of Telefónica Tech, while Ms. Rotondo Urcola will join the Advisory Board of Telefónica España. To fill the vacancies, Ms. Anna Martínez Balañá and Ms. Mónica Rey Amado were appointed as Independent Directors. Additionally, Ms. Rey Amado was appointed to the Sustainability and Regulation Committee, replacing Ms. Rotondo Urcola, and Ms. Ana María Sala Andrés was appointed to the Nominating, Compensation and Corporate Governance Committee, replacing Ms. Pascual Boé.