TELEFONICA BRASIL S.A.

Telefônica Brasil S.A. announced that its Fiscal Council has reviewed and unanimously recommended a proposal for the declaration of Interest on Capital (IoC) to the Company's Board of Directors. The proposed IoC amounts to R$500,000,000.00 gross, or R$412,500,000.00 net of withholding income tax. This IoC is based on the balance sheet of August 31, 2026, and will be credited to shareholders based on their position on September 25, 2026. The net amount will be allocated to the mandatory minimum dividend for the fiscal year ending December 31, 2026, with payment expected by April 30, 2027.

Telefônica Brasil S.A. shareholders approved the merger of its wholly-owned subsidiary, Fibrasil Infraestrutura e Fibra Ótica S.A., into the company. The merger, effective August 1, 2026, will not result in a share capital increase or new share issuance for Telefônica Brasil, as Fibrasil's net equity of R$812.6 million is already reflected in the company's assets. Additionally, shareholders ratified the election of Ms. María Cristina Rotondo Urcola as an independent member of the Board of Directors.

Telefônica Brasil S.A. announced that the merger of its wholly-owned subsidiary, Fibrasil Infraestrutura e Fibra Ótica S.A., was approved at an Extraordinary Shareholders’ Meeting. The merger will be effective on August 1, 2026, leading to Fibrasil's dissolution and Telefônica Brasil assuming all its rights and obligations. The company clarified that the merger will not increase its share capital, result in new share issuance, or alter its shareholding structure.

Telefônica Brasil S.A. has updated its internal regulations for the Board of Directors and its technical and consulting committees. The revised regulations detail the operation, responsibilities, and duties of these bodies, including composition, term limits for independent directors, meeting procedures, and the role of the General Secretary. The update also outlines the specific functions and meeting frequencies for the Audit, Quality and Sustainability, and Nominations, Compensation and Corporate Governance Committees.

Telefonica Brasil's Board of Directors, during its 531st meeting on July 23, 2026, approved several significant policies and plans. These include the 2026 Climate Action Plan, an updated Human Rights Policy, and a new Artificial Intelligence Governance Model Policy. The Board also approved amendments to its internal regulations and restated the numbering for previous meeting minutes.

Telefônica Brasil S.A. reported strong second-quarter 2026 results, with net revenue increasing 7.6% year-over-year to R$15,757.4 million and EBITDA growing 10.9% to R$6,580.8 million. Net income saw a significant rise of 17.0% to R$1,572.5 million. The company demonstrated solid customer growth, with mobile accesses reaching 105.1 million and FTTH homes connected expanding to 8.2 million. Telefônica Brasil also emphasized its commitment to shareholder returns, distributing R$6,990.0 million in 7M26 and approving a new R$1.0 billion share buyback program.

Telefonica Brasil's Fiscal Council unanimously approved a proposal for the declaration of Interest on Capital (IoC). The proposed gross amount is R$500,000,000.00, with a net amount of R$412,500,000.00 after tax. Shareholders on record as of July 27, 2026, will be eligible, and the payment is scheduled by April 30, 2027. This IoC will be allocated towards the mandatory minimum dividend for the fiscal year ending December 31, 2026.

Telefônica Brasil S.A. announced that its Board of Directors approved the declaration of Interest on Capital (IoC) totaling R$500,000,000.00 gross. After a 17.5% withholding income tax, the net amount is R$412,500,000.00. Shareholders on record as of July 27, 2026, will be eligible, with payment to be made by April 30, 2027. The IoC will be considered part of the mandatory dividends for the fiscal year ending December 31, 2026.

Telefônica Brasil S.A. announced that its indirectly controlled subsidiary, Telefônica Infraestrutura e Segurança Ltda. (TIS), merged with its wholly-owned subsidiary, Telefônica Cibersegurança e Tecnologia do Brasil Ltda. (Cyberco Brasil). This corporate reorganization aims to simplify operating structures, reduce costs, and capture internal synergies. The merger was concluded based on Cyberco Brasil's book value and did not alter TIS's share capital or Telefônica Brasil's indirect equity interest. As a result, TIS assumes all assets, liabilities, rights, and obligations of Cyberco Brasil.

Telefônica Brasil S.A. has called an Extraordinary Shareholders' Meeting for July 31, 2026, to vote on the merger of Fibrasil Infraestrutura e Fibra Ótica S.A. into the company. The agenda includes ratifying PriceWaterhouseCoopers as the appraiser for Fibrasil's equity, examining the appraisal report and merger protocol, and resolving on the merger, which is proposed to be effective August 1, 2026. Additionally, shareholders will ratify the election of an independent board member.