Telefônica Brasil S A : NOTICE TO SHAREHOLDERS DECLARATION OF INTEREST ON CAPITAL (Form 6-K)

NOTICE TO SHAREHOLDERS

DECLARATION OF INTEREST ON CAPITAL

Telefônica Brasil S.A. ('Company') communicates to the Shareholders that, at the meeting held on June 17, 2021, the Company's Board of Directors resolved on the payment of Interest on Capital ('IoC') for the fiscal year 2021, pursuant to Article 26 of the Company's Bylaws, Article 9 of Law 9,249/95 and CVM Resolution 683/2012, in the gross amount of R$630,000,000.00 (six hundred and thirty million reais), withholding income tax at the rate of 15%, resulting in a net amount of R$535,500,000.00 (five hundred and thirty-five million and five hundred thousand reais), based on the balance sheet of May 31, 2021. The amount per share is described in the table below:

Type of Payment	Declaration Date	Shareholding Position	Gross Amount per Share (R$)	Withholding Income Tax (15%)	Net Amount per Share (R$)
Interest on Capital	06/17/2021	06/30/2021	0.37390025008	0.05608503751	0.31781521257

As established in article 26 of the Company's Bylaws, said interest will be considered as part of the mandatory minimum dividends for the fiscal year 2021, subject to approval by the General Shareholders' Meeting to be held in 2022.

The amount of IoC per share described in the table above may be adjusted in the future, until June 30, 2021, due to possible acquisitions of shares under the Company's Share Buyback Program.

The IoC will be paid individually to each shareholder, based on the shareholding position in the Company's records at the end of June 30, 2021. After this date, the shares will be traded 'ex-interest.' The interest on capital will be paid by July 31, 2022, and the Company's Executive Board is responsible for fixing the exact date.

TELEFÔNICA BRASIL S.A.

Publicly Held Company

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

Company Registry (NIRE) 35.3.001.5881-4

Shareholders who are immune to or exempt from income tax, in accordance with the current legislation, must prove such conditions by July 5, 2021 to the Shares and Custody Department of Banco Bradesco S.A., the depositary institution of the Company's book-entry shares, located at Cidade de Deus, s/n, Prédio Amarelo Velho, subsolo - Vila Yara - Zip Code: 06029-900, in the city of Osasco, São Paulo state.

São Paulo, June 17, 2021.

David Melcon Sanchez-Friera CFO and Investor Relations Officer Telefônica Brasil - Investor Relations Phone: [phone] Email: [e-mail] www.telefonica.com.br/ri