MINUTES OF THE 406TH BOARD OF DIRECTORS' MEETING OF TELEFÔNICA BRASIL S.A. HELD ON SEPTEMBER 16TH, 2021

1.DATE, TIME AND VENUE: On September 16th (sixteenth), 2021, at 11:00 a.m., exceptionally, due to the COVID-19 pandemic, held remotely, as provided in the Article 19, paragraph 1 of the Internal Rules of the Board of Directors and the Technical and Advisory Committees ('Rules') of Telefônica Brasil S.A. ('Company').

2.CALL NOTICE AND ATTENDANCE: The call was waived given the presence of all members of the Board of Directors, who subscribe these minutes, pursuant to the article 15, paragraph 2 of the Company's rules, and therefore constituting a quorum in accordance with the Bylaws. The General-Secretary and Legal Officer, Mr. Breno Rodrigo Pacheco de Oliveira, also attended the meeting as Secretary.

3.PRESIDING: Eduardo Navarro de Carvalho - Meeting President; Breno Rodrigo Pacheco de Oliveira - Meeting Secretary.

4. AGENDA AND RESOLUTION: After examining and deliberating on the matter in the Agenda, the members of the Board of Directors unanimously decided as follows:

4.1. Statement of Interest on Capital: The proposal to declare interest on capital ('IoC') based on the balance sheet as of August 31st, 2021, in the gross amount of R$600,000,000.00, corresponding to R$510,000,000.00 net of withholding income tax, was approved. The interest per share is equivalent to R$0.35728835197 per common share (R$0.30369509918 net of income tax).

The IoC shall be credited individually to the shareholders, in accordance with the shareholding position in the Company's records at the end of September 30th, 2021. After this date the shares will be considered 'ex-interests'.

The IoC will be included in the minimum required dividend for the fiscal year of 2021 'ad referendum' of the General Shareholders' Meeting to be held in 2022, and the payment will be made until July 31st, 2022, in a date to be determined by the Company's Board.

TELEFÔNICA BRASIL S.A.

Publicly Held Company

Corporate Taxpayer's ID (CNPJ/MF): 02.558.157/0001-62

Company Registry (NIRE): 35.3.0015881-4

MINUTES OF THE 406TH BOARD OF DIRECTORS' MEETING OF TELEFÔNICA BRASIL S.A. HELD ON SEPTEMBER 16TH, 2021

5. CLOSURE: There being no further matters to discuss, the Chairman stated that the meeting was adjourned, and these minutes were drawn up. São Paulo, September 16th, 2021. (aa) Eduardo Navarro de Carvalho - Chairman of the Board of Directors. Board Members: Ana Theresa Masetti Borsari; Antonio Carlos Valente da Silva; Christian Mauad Gebara; Claudia Maria Costin; Francisco Javier de Paz Mancho; José María Del Rey Osorio; Juan Carlos Ros Brugueras; Julio Esteban Linares Lopez; Luiz Fernando Furlan; Narcís Serra Serra and Sonia Julia Sulzbeck Villalobos. Secretary: Breno Rodrigo Pacheco de Oliveira.

This is a free English translation of the Minutes of the 406th Board of Directors' Meeting of Telefônica Brasil S.A., held on September 16th, 2021, drawn up in the Company's book.

Breno Rodrigo Pacheco de Oliveira

Secretary

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Telefônica Brasil SA published this content on 16 September 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 16 September 2021 21:31:04 UTC.