DGAP-News:Telefónica Deutschland Holding AG: Independent expert confirms: Contribution of 1&1 Drillisch to costs for spectrum auction 2015 in the future possible

DGAP-News: Telefónica Deutschland Holding AG / Key word(s): Legal Matter Telefónica Deutschland Holding AG: Independent expert confirms: Contribution of 1&1 Drillisch to costs for spectrum auction 2015 in the future possible 17.12.2020 / 19:44 The issuer is solely responsible for the content of this announcement.

Munich, 17 December 2020 Independent expert confirms: Contribution of 1&1 Drillisch to costs for spectrum auction 2015 in the future possible 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 confirmed in principle today his preliminary decision submitted on 8 October 2020. While the expert opinion rejected a cost contribution for the period 2016-2020, it explicitly grants Telefónica Deutschland the right to request an annual review with regards to a contribution of 1&1 Drillisch to the 2015 spectrum auction costs on the basis of the expert opinion. This right applies to 2021 and subsequent years and allows to claim the full amount if valid. In addition and in favour of Telefónica Deutschland, the expert removed the previously declared reservation with regards to Price Review 1. Telefónica Deutschland will carefully analyse the decision and reserves all its rights. Furthermore, Telefónica Deutschland still considers 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 to be unjustified in terms of content. These proceedings are independent of today's announcement. 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

17.12.2020 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: 1156159 MDAX TecDAX End of News DGAP News Service

1156159 17.12.2020