TELEFÓNICA: FILING OF 2018 ANNUAL REPORT ON FORM 20-F

Madrid, February 21, 2019.- Telefónica, S.A. has filed with the U.S. Securities and Exchange Commission its annual report on form 20-F for the year ended December 31, 2018. A copy of this report is available on the Company's website at the shareholders and investors' section:

https://www.telefonica.com/en/web/shareholders-investors/financial_reports/20-f-sec-filing

Moreover, Telefónica's shareholders -and holders of Telefónica´s American Depositary Shares-may obtain, free of charge, a printed copy of the Company's complete audited financial statements.

For a copy, requests should be addressed to:

Shareholders Office                                                                      Investors Relations Department

Ronda de la Comunicación, s/n                                                      Ronda de la Comunicación, s/n

28050 -Madrid-                                                                               28050 -Madrid-

SPAIN                                                                                             SPAIN

Toll free number (calls within Spain):                                           Tel. +34 91 482 8700

900 111 004                                                                                    Fax. +34 91 482 8600

Fax: + 34 91 482 7987                                                                   Email: [email protected]

Email: [email protected]