Financial Data and Key Metrics Changes - The company reported a net income of BRL 1.2 billion for the quarter, a 25% year-over-year increase [42] - Operating cash flow reached BRL 7.5 billion, with a margin of 23.5%, expanding by 3.4 percentage points year-over-year [13] - Free cash flow for the first nine months of 2020 grew 50% year-over-year to BRL 8.9 billion, surpassing the total for the entire year of 2019 [43] Business Line Data and Key Metrics Changes - Mobile service revenues decreased by 1% year-over-year but increased by 3.3% quarter-over-quarter [10][11] - Fiber revenues, including FTTH and IPTV, grew by 47.3% year-over-year and 14.5% quarter-over-quarter [11][23] - Postpaid customer base accounted for almost 60% of total mobile access, with 844,000 net additions in the quarter [9] Market Data and Key Metrics Changes - The overall mobile market share stood at 33.3%, the highest in 14 years, with a significant reduction in postpaid churn [20] - Prepaid revenues grew by 5.8%, driven by customer acquisition efforts [18] - FTTH net additions totaled 267,000, reaching 3.1 million homes connected, a 34% year-over-year increase [24] Company Strategy and Development Direction - The company is focused on digitalization and simplification initiatives to reduce costs and improve customer experience [12][35] - There is a strong emphasis on expanding the fiber footprint, with plans to reach 268 cities by the end of the year [31] - The company aims to maintain leadership in mobile and fixed services while exploring partnerships and potential M&A opportunities in the fiber market [100][102] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about the recovery of revenue and customer demand as COVID-19 restrictions ease [91] - The company is confident in its ability to capture growth opportunities in the digital space and maintain strong cash flow generation [45] - Future CapEx is expected to decrease as the company shifts focus to growth technologies and network sharing agreements [82] Other Important Information - The company was recognized as one of the top 10 companies in the new S&P/B3 ESG Index, highlighting its commitment to sustainability [48] - A national campaign for recycling electronic waste was launched, along with the inauguration of a biogas power plant [49] Q&A Session Summary Question: Migration of concessions to authorizations and prepaid pricing - Management is optimistic about the migration process but acknowledges it is still early in the regulatory phase [58][60] - There are plans to increase prepaid prices, but the timing is uncertain due to competitive pressures [61][62] Question: Prepaid performance and legacy business deterioration - The strong prepaid growth is attributed to quality service and effective customer management [67] - Legacy services are declining due to strategic decisions to focus on FTTH and IPTV, with expectations of continued revenue decline in these areas [73] Question: CapEx trends and fiber market strategies - CapEx is expected to decrease as the company prioritizes growth technologies and network sharing [82] - The company is confident in its competitive position in the fiber market despite the presence of smaller players [85] Question: Outlook for Q4 and cost reduction strategies - Management anticipates a positive trend in Q4 due to improved economic conditions and customer demand [91] - There is still room for cost reductions through digital initiatives and operational efficiencies [93]

Telefonica Brasil SA (NYSE:VIV) Q2 2020 Earnings Conference Call July 29, 2020 9:00 AM ET Company Participants Luis Plaster - IR Director Christian Gebara - CEO & Director David Melcon - Chief Financial & IR Officer Conference Call Participants Maria Tereza Azevedo - Santander Marcelo Santos - JPMorgan Chase & Co. Rodrigo Villanueva - Bank of America Merrill Lynch Frederico Mendes - Bradesco BBI Tito Ferraz - Itaú Walter Piecyk - LightShed Partners Operator Good morning, ladies and gentlemen. At this time, ...

Financial Data and Key Metrics Changes - The reported net income for Q1 2020 was BRL 1.1 billion, a reduction of 14% year-over-year due to increased depreciation and income tax costs, partially offset by continuous cost discipline and EBITDA expansion [46] - Free cash flow grew 81% year-over-year, reaching BRL 2.1 billion, driven by recurring EBITDA expansion and lower financial costs [48] - Recurring EBITDA margin expanded to 40.9%, an increase of 1.2 percentage points year-over-year, with recurring costs reduced by 3.3% [39][40] Business Line Data and Key Metrics Changes - Fiber revenues, including FTTH and IPTV, expanded by 38.9% year-over-year, now representing 24% of all fixed revenues [18] - The mobile postpaid subscriber base grew by 6.6% year-over-year, reaching 43.7 million customers, which constitutes 58% of total mobile access [17] - Prepaid revenue showed a decline of only 0.5%, marking the best yearly performance since 2015, driven by improved value propositions [23] Market Data and Key Metrics Changes - Vivo expanded its mobile market share to 33%, the highest since October 2006, despite the COVID-19 crisis [24] - FTTH access increased by 13% year-over-year, reaching 2.7 million accesses, which now represents 39% of the broadband customer base [30] - The company entered 22 new cities with FTTH in Q1, totaling 186 cities, while improving home connector penetration to 22.7% [32][34] Company Strategy and Development Direction - The company is committed to expanding its FTTH network and digitalizing customer care, aiming to enhance connectivity solutions for both businesses and households [15][29] - The strategy includes leveraging partnerships for fiber deployment and focusing on digital channels to improve customer experience and operational efficiency [35][94] - The company plans to continue its investments in advanced technologies, with 68% of CapEx allocated for growth initiatives [44] Management's Comments on Operating Environment and Future Outlook - Management emphasized the importance of maintaining network quality and customer connectivity during the COVID-19 crisis, implementing various support measures for customers [10][12] - The company remains optimistic about its fiber results driving sustainable growth despite the ongoing challenges posed by the pandemic [18] - Management acknowledged the uncertainty surrounding the economic environment but expressed confidence in the company's strategy and ability to adapt [99] Other Important Information - The company has implemented measures to ensure employee health and job security during the pandemic, including remote work and health assistance [13] - The company is utilizing big data capabilities to assist government efforts in combating COVID-19 through mobility heat maps [14] Q&A Session Summary Question: Regarding the agreements between Telefónica and TIM - Management confirmed that the agreement has received approval from ANATEL and CADE, with implementation expected in the second semester of the year [53][55] Question: Update on the due diligence of Oi Móvel assets - Management stated that due diligence is progressing, but specific timelines cannot be provided due to the complexity of the process [58] Question: Changes in retail strategy for handsets and accessories post-COVID - Management noted that physical store closures impacted handset sales, but e-commerce is expected to gain relevance moving forward [62] Question: Trends in results for April amid COVID impact - Management indicated that results in April showed improvement compared to March, with a gradual recovery in customer engagement [64][68] Question: Sales and marketing expenses in relation to COVID - Management attributed cost reductions primarily to digitalization and simplification initiatives rather than COVID-related factors [74] Question: Risks of downgrading in postpaid plans - Management does not foresee significant downgrading in postpaid plans, citing the value-added services and ongoing demand for mobile connectivity [78] Question: Drop in ARPU and competitive impacts - Management acknowledged that the drop in ARPU was influenced by tough comparisons from the previous year and store closures impacting postpaid sales [84] Question: FTTH growth and market share dynamics - Management highlighted strong FTTH net ads and ongoing expansion efforts, while acknowledging competitive pressures in the market [88] Question: CapEx flexibility and potential cuts - Management confirmed ongoing FTTH expansion plans while also exploring partnerships to mitigate CapEx impacts from economic conditions [94] Question: Update on 5G auction rules and regulatory environment - Management indicated ongoing discussions with regulatory bodies and uncertainty regarding the timeline for 5G auctions [103] Question: Update on franchising and partnership with American Tower - Management reported that the partnership with American Tower is on schedule, while the impact of COVID on franchising initiatives remains uncertain [115][116]

| --- | --- | --- | --- | --- | --- | |---------------------|-------|-------|-------|-------|-------| | | | | | | | | | | | | | | | Results | | | | | | | January - March | | | | | | | 2020 | | | | | | Disclaimer This document and any related conference call or webcast (including any related Q&A session) may contain forward-looking statements and information (hereinafter, the "Statements") relating to the Telefónica Group (hereinafter, the "Company" or "Telefónica") or otherwise. These Statements may include ...

As filed with the Securities and Exchange Commission on February 20, 2020 UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 20-F (Mark One) ☐ REGISTRATION STATEMENT PURSUANT TO SECTION 12(b) OR (g) OF THE SECURITIES EXCHANGE ACT OF 1934 OR ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2019 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Commission file numb ...

As filed with the Securities and Exchange Commission on February 21, 2019 UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 20-F (Mark One) ☐ REGISTRATION STATEMENT PURSUANT TO SECTION 12(b) OR (g) OF THE SECURITIES EXCHANGE ACT OF 1934 OR ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2018 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 OR ☐ SHELL COMPANY R ...