Significant Shareholdings

Access information registered by Telefónica S.A

According to information provided or known to the Company there is no individual or corporation that directly or indirectly, alone or jointly, exercises, or may exercise control over Telefónica, on the terms established in article 4 of the Securities Markets Act.

There are, however, certain shareholders who hold stakes that may be considered significant, in the sense of Royal Decree 1362/2007, of October 19, who are as follows:

Name of Beneficial Owner% of shares carrying voting rights% of voting rights through financial instruments% of total voting rights
Banco Bilbao Vizcaya Argentaria BBVA (*)4.850.
CaixaBank, S.A. (**)3.500.
Blackrock, Inc (***)0.004.320.000.164.48

(*) Based on the information provided by Banco Bilbao Vizcaya Argentaria, S.A. for the Annual Corporate Governance Report of Telefónica, S.A. for the 2022 financial year. Furthermore, according to the aforementioned information provided by BBVA, the percentage of economic rights attributed to the shares of Telefónica, S.A. owned by BBVA at December 31, 2022 amounts to 4.97% of the company’s share capital.

(**) Based on information provided by CaixaBank, S.A. for the Annual Corporate Governance Report of Telefónica, S.A. for 2022.

(***) Based on the information notified by BlackRock, Inc. to the CNMV on March 31, 2020, as updated per the share capital of Telefónica, S.A. as of December 31, 2022. Based on the Schedule 13G/A filed with the SEC, on October 7, 2022, BlackRock, Inc. beneficially owned 4.96% of Telefónica, S.A. shares (4.49% of voting rights).

Additionally, the information regarding the shares of Telefónica, S.A. and the financial instruments owned by the Significant Shareholders of the Company which give them rights to acquire or transfer such shares is available in the public records of the la Comisión Nacional del Mercado de Valores (CNMV), which are publicly available.

Number of Shareholders

According to the information obtained from “Sociedad de Gestión de los Sistemas de Registro, Compensación y Liquidación de Valores” (Securities, Recording, Clearing and Settlement Systems Management Company) (Iberclear), dated on December 31, 2022, the number of shareholders of Telefónica, according to separate records in favour of individuals and corporations, amounted to approximately 1.1 million shareholders.