| I | Receive the Annual Report | For |
| II | Approval of the proposed allocation of the profits of Telefonica S.A | For |
| III | Discharge the Board | For |
| IV | Appoint the auditors | Abstain |
| V | Reduce Share Capital and amend article 6 of the Bylaws regarding Share Capital | For |
| VI | Authorise the scrip dividend | For |
| VII.A | Amend Articles: Re: General Meetings | For |
| VII.B | Amend Articles: Article 35 Re: Director Remuneration | For |
| VII.C | Amend Articles: Articles Re: Board of Directors | For |
| VIII | Amend Articles: Articles of General Meeting Regulations | For |
| IX | Approve authority to increase authorised share capital and issue shares without pre-emptive rights | Oppose |
| X | Authorize Board to Ratify and Execute Approved Resolutions | For |
| XI | Advisory vote on Remuneration Report for 2014 | Oppose |
