Telefônica Brasil S A : Notice to Shareholders - Deliberation of Interest on Own Capital

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

NOTICE TO SHAREHOLDERS

DECLARATION OF INTEREST ON CAPITAL

Telefônica Brasil S.A. ("Company") communicates to the Shareholders that, at the meeting held on April 15, 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 two hundred and eighty million reais (R$280,000,000.00), withholding income tax at the rate of 15%, resulting in a net amount of two hundred and thirty-eight million reais (R$238,000,000.00), based on the balance sheet of March 31, 2021. The amount per share is described in the table below:

Type of	Declaration	Shareholding	Gross Amount per	Withholding	Net Amount
Income Tax
Payment	Date	Position	Share (R$)	per Share (R$)
(15%)
Interest on	4/15/2021	4/30/2021	0.16611398457	0.02491709768	0.14119688689
Capital

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 interest on capital per share described in the table above may be adjusted in the future, until April 30, 2021, due to possible acquisitions of shares under the Company's Share Buyback Program.

The interest on capital will be paid individually to each shareholder, based on the shareholding position in the Company's records at the end of April 30, 2021. After this date, the shares will be traded "ex-interest on capital." 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 May 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, sub-solo - Vila Yara - Zip Code: 06029-900, in the city of Osasco, São Paulo state.

São Paulo, April 15, 2021.

David Melcon Sanchez-Friera

CFO and Investor Relations Officer

Telefônica Brasil - Investor Relations

Phone: [phone]

Email: [e-mail]

www.telefonica.com.br/ri