Date: 13-14 April

Location: LONDON (UK)

• Venue: ‘The O2’- IndigO2

• Address: Peninsula Square - London, SE10 0DX United Kingdom

Telefónica is pleased to invite you to the Company's Eighth Investor Conference, to be held in London on 13 and 14 April at “The O2”, a remarkable venue designed by Richard Rogers. This two day event will give us the opportunity to share with you our view of the industry and our strategy, covering as well the Company’s financial and operational goals for the medium term.

As in previous years, the Chairman and other members of Telefónica's Executive Committee will take you through this event, which we hope will be of great interest to you. In addition, we will be inviting an external speaker to join our Investor Conference.

The Agenda of the Conference begins at the “IndigO2” on the afternoon of Wednesday, 13 April, and presentations will run through until the following day on Thursday, 14 April.

We also cordially invite you to join us at 19:00 h (London time) on Wednesday for the official welcome dinner at the Natural History Museum (Cromwell Road, London SW7 5BD; Exhibition Road entrance) which will provide an excellent opportunity for some face to face networking. Please, do not forget your Investor Conference ID to attend the dinner.