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    VIVT3   BRVIVTACNOR0

TELEFÔNICA BRASIL S.A.

(VIVT3)
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Telefônica Brasil S A : Minutes of the 390th Meeting of the Board of Directors

02/12/2021 | 06:21pm EDT

Public-held Company CNPJ/MF n.º 02.558.157/0001-62

NIRE 35.3.0015881-4

MINUTES OF THE 390th MEETING OF THE BOARD OF DIRECTORS OF

TELEFÔNICA BRASIL S.A. HELD ON FEBRUARY 12th, 2021.

1. DATE, TIME AND PLACE: February 12, 2021, at 1:00 p.m., exceptionally held remotely, due to the COVID-19 pandemic, pursuant to the article 19, paragraph 1 of the Internal Regulations of the Board of Directors and of the Technical and Advisory Committees ("Internal Regulation") of Telefônica Brasil S.A. ("Company").

2. CALL NOTICE AND ATTENDANCE: The call was waived, in view of the presence of all members of the Board of Directors, who subscribe these minutes, as provided for in Article 15, paragraph 2 of the Internal Regulation, therefore, having quorum under the terms of the Bylaws. The General Secretary and Legal Officer, Mr. Breno Rodrigo Pacheco de Oliveira, was present as Secretary of the Meeting.

3. PRESIDING BOARD: Eduardo Navarro de Carvalho - Chairman of the Meeting; Breno Rodrigo Pacheco de Oliveira - Secretary of the Meeting.

4. AGENDA AND DELIBERATION: After examining and debating on the matter on the Agenda, the members of the Board of Directors deliberated unanimously, as described below:

4.1. Distribution of Interest on own capital: The proposal of distribution of Interest on

Own Capital ("IOC") was approved, based on the balance sheet of January 31, 2021, in the gross amount of R$ 150,000,000.00, which is equivalent to R$ 127,500,000.00 net of income tax. The interest per share equals to R$ 0.08889560697 per common share (R$ 0.07556126592 net of income tax).

The Interest on Own Capital shall be credited individually to shareholders, in accordance to the shareholder registry book position by the end of February 26, 2021. After this date, the shares will be considered "ex-Interest on Own Capital".

The Interest on Own Capital will be imputed to the minimum mandatory dividend of the fiscal year 2021 ad referendum of the General Shareholders Meeting to be held in 2022,

Public-held Company CNPJ/MF n.º 02.558.157/0001-62

NIRE 35.3.0015881-4

and the payment will be carried out before July 31, 2022, in a date to be defined by the Company's Board.

5. CLOSING: Since there was no other business to be transacted, the meeting was closed by the Chairman of the Board of Directors and this minute was transcribed in the proper book. São Paulo, February 12, 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 of the Meeting: Breno Rodrigo Pacheco de Oliveira.

I hereby certify that this is a faithful copy of the minutes of the 390th meeting of the Board of Directors of Telefônica Brasil S.A., held on February 12th, 2021, which was drawn-up in the proper book.

Breno Rodrigo Pacheco de Oliveira Secretary of the Board of Directors

Disclaimer

Telefônica Brasil SA published this content on 12 February 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 12 February 2021 23:20:03 UTC.


© Publicnow 2021
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Sales 2021 43 766 M 8 284 M 8 284 M
Net income 2021 5 194 M 983 M 983 M
Net Debt 2021 5 756 M 1 089 M 1 089 M
P/E ratio 2021 13,5x
Yield 2021 7,59%
Capitalization 70 953 M 13 366 M 13 429 M
EV / Sales 2021 1,75x
EV / Sales 2022 1,60x
Nbr of Employees 32 759
Free-Float 55,1%
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Technical analysis trends TELEFÔNICA BRASIL S.A.
Short TermMid-TermLong Term
TrendsNeutralNeutralBearish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus BUY
Number of Analysts 13
Last Close Price 42,11 BRL
Average target price 58,76 BRL
Spread / Average Target 39,5%
EPS Revisions
Managers and Directors
Christian Mauad Gebara Chief Executive Officer & Director
David Melcon Sanchez-Friera Chief Financial & Investor Relations Officer
Eduardo Navarro de Carvalho Chairman
Francisco Javier de Paz Mancho Director
Luiz Fernando Furlán Director
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