SIGNIFICANT SHAREHOLDINGS

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(Direct Access to official filings 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
Direct Indirect Direct Indirect
Banco Bilbao Vizcaya Argentaria BBVA (*) 4.94 0.02 0.00 0.00 4.96
CaixaBank, S.A. (**) 4.70 0.00 0.00 0.00 4.70
Blackrock, Inc (***) 0.00 4.52 0.00 0.16 4.68

(*) Based on the information provided by Banco Bilbao Vizcaya Argentaria, S.A. as at December 31, 2020 for our 2020 Annual Report on Corporate Governance and taking into account the latest capital increase of the Company (deed was executed on December 30, 2020 and registered on January 5, 2021). The indirect shareholding is held by BBVA Seguros, S.A. de Seguros y Reaseguros. Also, and according to the aforementioned information provided by BBVA, the percentage of economic rights attributed to Telefónica, S.A. shares owned by BBVA amounts to 5.27% of the Company's share capital.

(**) Based on the information provided by CaixaBank, S.A. as at December 31, 2020 for our 2020 Annual Report on Corporate Governance and taking into account the latest capital increase of the Company (deed was executed on December 30, 2020 and registered on January 5, 2021).

(***) Based on the information notified by BlackRock, Inc. to the CNMV on March 31, 2020 (a shareholding in Telefónicas's share capital of 4.983%) and taking into account the latest capital increase of the Company (deed was executed on December 30, 2020 and registered on January 5, 2021). On October 10, 2020 Blackrock, Inc. filed an Schedule 13G/A with the SEC notifying that its shareholding in Telefónica's share capital was 4.9%.

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, 2020, the number of shareholders of Telefónica, according to separate records in favour of individuals and corporations, amounted to approximately 1.2 million shareholders.