TEF-Filing of Form 20F 2015

TELEFÓNICA: FILING OF 2015 ANNUAL REPORT ON FORM 20-F

Madrid, February 26, 2016.- 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, 2015. 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 the period ended December 31, 2015. 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: [email protected]

Email: [email protected]