| I.1 | Approve Consolidated Financial Statements | For |
| I.2 | Discharge the Management Board | For |
| II | Approve the Proposed Allocation of the Profits/Losses of Telefonica | For |
| III.1 | Re-elect Mr. José María Álvarez-Pallete López | Oppose |
| III.2 | Re-elect Mr. Ignacio Moreno Martinez | Oppose |
| III.3 | Elect Mr. Francisco José Riberas Mera | For |
| III.4 | Elect Ms. Carmen García De Andrés | For |
| IV | Set the Number of Board Directors | For |
| V | Approve the Dividend | For |
| VI | Issue Bonds | Oppose |
| VII | Powers to Carry out Legal Formalities | For |
| VIII | Approve the Remuneration Report | Abstain |
