The Board of Directors of Telefónica, S.A. and its Committees, following a favorable report from the Nominating, Compensation and Corporate Governance Committee, at its meeting held, have unanimously adopted the following resolutions in relation to its Board of Directors and its Committees: To take note and accept the respective voluntary resignations presented to their positions as Proprietary Directors of Telefónica, S.A. by Mr. Ignacio Moreno Martínez and Mr. Jordi Gual Solé, in order to allow the Company to continue evolving in the implementation of best practices and recommendations in Corporate Governance with regard to the number and composition of its Board of Directors. The Board of Directors appreciated the services rendered to the Telefónica Group during their respective tenures. Consequently, Mr. Ignacio Moreno Martínez and Mr. Jordi Gual Solé will cease to be members of the Committees of the Board of Directors of which they were part. In particular, Mr. Moreno was Chairman of the Regulation and Institutional Affairs Committee, and Member of the Audit and Control Committee, and of the Sustainability and Quality Committee. On the other hand, Mr. Gual was Member of the Regulation and Institutional Affairs Committee, and of the Strategy and Innovation Committee. It has been resolved to propose, at the appropriate time, the appointment of both as Members of the Advisory Board of Telefónica España and as Members of the Board of Directors of Telefônica Brasil, S.A. Changes relating to the Board of Directors’ Committees: To appoint the Independent Director, Ms. María Luisa García Blanco, as Member of the Sustainability and Quality Committee. To appoint the Independent Director, Ms. María Luisa García Blanco, as Chairwoman of the Sustainability and Quality Committee, in replacement of the Other External Director, Mr. Francisco Javier de Paz Mancho, who continues as Member of such Committee. To appoint the Independent Directors, Mr. Juan Ignacio Cirac Sasturain and Ms. Carmen García de Andrés, as Members of the Regulation and Institutional Affairs Committee. To appoint the Other External Director, Mr. Francisco Javier de Paz Mancho, as Chairman of the Regulation and Institutional Affairs Committee. To appoint the Independent Director, Ms. María Rotondo Urcola, as Member of the Audit and Control Committee.