Telefônica Brasil Subsidiary TIS Merges with Cyberco Brasil

Key Highlights

• Telefônica Infraestrutura e Segurança Ltda. (TIS) merged with Telefônica Cibersegurança e Tecnologia do Brasil Ltda. (Cyberco Brasil).
• Cyberco Brasil was a wholly-owned subsidiary of TIS, indirectly controlled by Telefônica Brasil S.A.
• The merger is a corporate and operational reorganization to simplify operating structures.
• Aims to generate administrative and economic benefits, reduce costs, and capture internal synergies.
• The merger was based on Cyberco Brasil's book value.
• No change to TIS's share capital or Telefônica Brasil's indirect equity interest.
• TIS succeeds to all assets, liabilities, rights, and obligations of Cyberco Brasil.