Press Release

TELEFÓNICA: FILING OF 2016 ANNUAL REPORT ON FORM 20-F Madrid, February 23, 2017.- 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, 2016. 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 Las Tablas -Madrid- 28050 Las Tablas -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: ir@telefonica.com Email: accion.telefonica@telefonica.com

Telefónica SA published this content on 23 February 2017 and is solely responsible for the information contained herein.
Distributed by Public, unedited and unaltered, on 16 March 2017 16:28:09 UTC.

Original documenthttps://www.telefonica.com/documents/162467/0/hr_20170223.pdf/1b560b1d-c24f-4668-b2e9-3aece997b5c6

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