Telef�nica, S.A. has filed with the Spanish National Securities Market Commission (Comisi�n Nacional del Mercado de Valores- CNMV) 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.

The aforesaid Annual Accounts will be submitted for approval at the next Annual General Shareholders' Meeting of the Company, the dates of which will be announced due course.

To view the full document, please paste the following URL into the address bar of your browser:

http://www.rns-pdf.londonstockexchange.com/rns/6302F_1-2018-2-22.pdf

http://www.rns-pdf.londonstockexchange.com/rns/6302F_2-2018-2-22.pdf

Madrid, February 22, 2018

�

�

�

�

�

�

�