DGAP-News:Telefónica Deutschland Holding AG: Independent expert amends draft decision: Contribution of 1&1 Drillisch to costs for the spectrum auction 2015 only rejected for the period 2016-2020

DGAP-News: Telefónica Deutschland Holding AG / Key word(s): Legal Matter Telefónica Deutschland Holding AG: Independent expert amends draft decision: Contribution of 1&1 Drillisch to costs for the spectrum auction 2015 only rejected for the period 2016-2020 08.10.2020 / 21:26 The issuer is solely responsible for the content of this announcement.

Munich, 8 October 2020 Independent expert amends draft decision: Contribution of 1&1 Drillisch to costs for the spectrum auction 2015 only rejected for the period 2016-2020 In the arbitration proceeding between Telefónica Deutschland and 1&1 Drillisch regarding 1&1 Drillisch's contribution to costs for the frequency usage rights from the 2015 spectrum auction, the independent expert amended in today's preliminary decision his draft submitted on 27 May 2020. A contribution of 1&1 Drillisch to Telefónica Deutschland's costs for the spectrum auction 2015 was only rejected for the period 2016-2020. The expert opinion did not decide on any of the subsequent years. The independent expert stated Telefónica Deutschland is entitled from 2021 onwards to request respective reviews of a cost contribution on the basis of the expert opinion. Telefonica Deutschland will analyse and comment the draft decision in detail. Furthermore, Telefónica Deutschland is of the view that Price Reviews 2, 5 and 6 initiated by 1&1 Drillisch as well as the filing for arbitration with regards to the decision of Price Review 1 are unjustified. More information: Telefónica Deutschland Investor Relations Georg-Brauchle-Ring 50 D-80992 Munich t +49 (0)89 2442-1010 f +49 (0)89 2442-2000 e ir-deutschland@telefonica.com

08.10.2020 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG. The issuer is solely responsible for the content of this announcement. The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Archive at www.dgap.de

Language: English Company: Telefónica Deutschland Holding AG Georg-Brauchle-Ring 50 80992 München Germany Phone: +49 (0)89 24 42 0 Internet: www.telefonica.de ISIN: DE000A1J5RX9 WKN: A1J5RX Listed: Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Munich, Stuttgart, Tradegate Exchange EQS News ID: 1139874 MDAX TecDAX End of News DGAP News Service

1139874 08.10.2020