Slide 1: Results 4Q22
| RESULTS 4Q22 :° Telefonica vivo eo
Slide 2: Disclaimer
DISCLAIMER °3° Telefonica This presentation may contain forward-looking statements concerning prospects and objectives regarding the capture of synergies, growth of the subscriber base, a breakdown of the various services to be offered and their respective results Our actual results may differ mater
Slide 3: Vivo reinforces its leadership with double-digit growth in Customer Base and Revenues
Vivo reinforces its leadership with a double-digit growth in Customer Base and Revenues, leading to strong Shareholder Remuneration in 2022 / a /— / { { { { 9 9 58.7mn = 5.5mn +*10.1% +13.6% Mobile Postpaid Fiber Total Revenue Mobile Serv. Revenue Accesses Homes Connected Growth 4Q22 Growth 4Q22 112
Slide 4: Core Revenues robust YoY growth, now 93% of Total Revenues
With Core Revenues showing a robust YoY growth, they now account for 93% of Total Revenues Total Revenues Total Revenues YoY growth R$ million, % of Total Revs % 12,659 Gal ’ 111% 106% 191% Handsets 11,501 Total Revenues continue to Prepaid 4.6% grow above inflation, P 2.8% : driven by strong operat
Slide 5: Resilient Core Business performance leads to escalated Mobile Revs. increase
Resilient Core Business performance leads to an escalated Mobile Revs. increase and Vivo’s highest fixed revenue growth since 2015 Mobile Revenues Fixed Core Revenues R$ million R$ million 8,899 EakRAZ 7, +11.9% 847 2,568 Handsets +15.0% Prepaid Mobile Serv. Rev. Data, Jenne +19.7% +13.6% Digital Se
Slide 6: Convergent offer and faster fiber deployment continue to show results
Convergent offer and faster deployment of fiber continue to show results as consumers are eager for superior quality services Mobile Customer Base million +14.6% ©, Prepaid ); repai +18.2% 4Q21 4Q22 Postpaid Churn? During 4Q22, Vivo disconnected 339k inactive accesses from Oi, taking the total FY202
Slide 7: Consistent growth in B2B services and B2C digital financial services
Consistent growth in B2B services translate into a higher share of total revenues, while B2C expands its portfolio of digital financial services Digital B2B Revenues . B2C initiatives R$ billion 5.6% of Total Revenues (+0.9 p.p. YoY) = Vivo continues to enhance its presence as a digital +29% finance
Slide 8: Vivo continues to advance in its ESG practices
Vivo continues to consolidate and advance in its ESG practices, being recognized as one of the leading telcos in the world in regard to sustainability — | ~81k tCO2e GHG emissions FUNDACAO . Reduction of 50% in direct TELEFONICA Around 2.2 million people benefitted and emissions YoY vivo R$58 millio
Slide 9: Cost expansion driven by digital services and personnel
Cost expansion mostly driven by the improved performance of digital services and increase in personnel Costs! ¢ ) R$ million ° 7,425 +13.0% = Cost of Services up +10.2% YoY supporting +10.6% LTM the expansion of digital services both in 35% B2B and B2C +11.0% Giesas "Cost of Goods Sold expanded +11.
Slide 10: Operating Cash Flow margin reached 20.3% in the year
Operating Cash Flow margin reached 20.3% in the year even with higher investment on top-notch technologies, such as fiber and 5G &S Capex? R$ million +9.7% 8,685 “~ > _230 < 9,000 FY2021 FY2022 FY2023 Capex in 2023 will be below R$9bn, mainly dedicated to the expansion of 5G coverage, strengthening
Slide 11: Strong Free Cash Flow generation totaling R$7.3 billion in 2022
Strong Free Cash Flow generation, totaling R$7.3 billion in 2022, allowing for controlled levels of indebtedness 1 GSA NEEL Free Cash Flow Yield? (LTM) 2022 : ( R$7.3billion_) 11.3% Free Cash Flow/ Sales (LTM) 15.2% < ) E ) R$ million qough comps in 2022 Despite investing heavily in Gross Debt, R$ m
Slide 12: Robust shareholder remuneration in 2022, with additional levers going forward
Robust shareholder remuneration in 2022, with additional levers going forward that will give us the flexibility to maintain top-notch returns 2022 Shareholder Remuneration C ) R$ billion R$ billion Dividends declared in 20222 3.0 Additional dividend based on 2022 R$2.0 billion paid out on October 18
Slide 13: For further information
For further information: ~~ Investor Relations ri.telefonica.com.br ir.br@telefonica.com a . '- VINT " ei ti B3 LISTLD %, :° Telefonica vivo