Reasons to invest in Telefónica

Telefónica España is the leading company in the domestic market in new generation network infrastructures (FTTH and 5G) with an excellent positioning in all market segments. Leader in service quality, with growing revenues, profitability, and benchmark cash generation margin in Europe.

Telefónica Brasil is the absolute leader among Brazilian telcos, with clear dominance in the most valuable segments, including mobile contracts and FTTH broadband. The company maintains a resilient revenue base and continues to optimize costs through digitalization and efficiency initiatives that drive strong cash generation. We are focusing on new revenue streams and accelerating the expansion of FTTH and 5G.

Telefónica Deutschland is a key player in the German market, providing high-quality mobile connectivity with a strong 5G footprint. The company continues to enhance its competitive position through network excellence, commercial momentum, and operational efficiencies, driving sustainable operating cash generation.

VMO2 is a leading operator in the UK, providing a strong combination of mobile and fixed broadband services. The company continues to expand its fibre network and invest in next-generation connectivity while leveraging efficiencies to drive profitability and cash flow.

1. Increasing customer satisfaction, growing NPS to 33 over total 390m customer base.
2. Leaders in fibre and copper shutdown in Europe. 84.6m FTTH PPs, 74% 5G coverage in core markets.
3. Digital ecosystem, pioneers in scaling network autonomy, internal operations optimization.
4. Green, accessible & trustworthy connectivity, responsible digitalization embedded in our business

Telefónica Tech is a leading next generation IT solutions provider (Cybersecurity & Cloud, IoT & Big Data) with differential delivery capabilities leveraged on its best-in class portfolio, global presence, >7k highly skilled professionals, a Digital Operations Centre and a Global Network of Security Operations Centres. Telefónica Tech is the crucial B2B growth engine.

Telefónica Infra support our operators to improve their competitive position by creating JVs together with financial partners to address the growing demand for quality, secure and reliable connectivity, within a framework of efficient capital allocation and value creation.

Figures as of December 2024

• Solid €20.9bn liquidity, leverage reduced to 2.58x, €0.3/share dividend well covered.
• All 2024 guidance metrics achieved, FCF of €2.6bn, industry leading CapEx/Sales of 12.9%.
• Conduct a strategic review, to conclude in H2 25. Provided 2025 Guidance.

Figures as of December 2024