Telefnica Brasil SA: Presentation regarding the acquisition of Oi’s mobile assets

WARNING

This presentation may contain forward-looking statements concerning the prospects and objectives for capturing synergies, growth in the subscriber base, the distribution of the various services to be offered and their respective results

Our actual results may differ materially from those contained in such forward-looking information. statements to researchdue to various factors, including political and economic factors, the development of competitive technologies, access to the capital necessary to achieve these results and the emergence of strong competition in the markets in which we operate

The sole purpose of these statements is to indicate how we intend to expand our business and therefore should not be considered as guarantees of the future

performance

Value creation through the acquisition of key assets, reinforcing leadership in mobile customers, spectrum and overall experience

Assets acquired

Billion reais

Spectrum

43MHz

Acquisition cost (excluding net cash) + Earnout

5.4

Acquisition cost

5.3

in 1800MHz, 2100MHz and 900MHz frequencies, with national coverage

Closing (90%)²

4.9

Withheld (10%) to be paid in 120 days

0.5

Mobile customer base

Access 12.5 min

Cash²

(0.1)

37% postpaid and 63% prepaid

Earnout³ – 12 months

0.1

Sites

Additional contracts

0.3

2,700 websites¹

Transition Service Agreement4 0.1

Strengthen the capacity and capillarity of our network

Data transmission contract5 (VAN) 0.2

1 Total rental liability of R$1.4 billion NPV (unaudited figure). Half of the sites to be offered for sale in order to comply with wwith the antitrust appeal (CADE). 2 – Cash of R$0.1 billion held by SPE Garliava at the closing date. 3 Additional value to be paid, subject to the achievement of certain operational parameters. 4 Network, IT and client services will be provided by Oi for a period of 12 months. 5 Data Transmission Contract with Oi for a period of 10 years.

Mobile consolidation reaffirms Vivo as Latin America the largest clientele, strengthen our position throughout Brazil

Vivo Mobile Market Position by State

market leader

+5 states

Leadership in 17 States, that represent 66% of Brazil’s GDP and 67% of the population²

  • 1 – Considering Vivo’s mobile access base of 84.6 million according to February 2022 figures from ANATEL and customer base sourced from Oi12.5 million.

  • 2 GDP and population Source: IBGE 2019.

New customers will benefit from Vivo’s second-to-none network, offers and customer service

Customers originating from Oi Mobile will benefit from the following advantages

1 – Vivo stores + resellers. 2 – ANATEL 2021 Satisfaction and Perceived Quality Survey.

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