Publication of the Annual Financial Report of Telef�nica covering the twelve month period ended 31 December 2017

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As reported under RNS Number 6302F, � Telef�nica, S.A. has filed the Individual Annual Accounts of "Telef�nica, S.A." and the Consolidated Annual Accounts of "Telef�nica S.A." and its "Group of Subsidiaries" for 2017 Financial Year.

A copy of the documents will be submitted to the National Storage Mechanism and will shortly be available for inspection at: " www.Hemscott.com/nsm.do "

Likewise, all the documents are available to the shareholders and investors on the Company's website (http://www.telefonica.com)

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