DGAP-News: Telefónica Deutschland Holding AG: Telefónica Deutschland names Laura Abasolo as new chairperson of the supervisory board

Munich, 3 May 2018

Telefónica Deutschland names Laura Abasolo as new chairperson of the supervisory board

The supervisory board of Telefónica Deutschland Holding AG today elected Laura Abasolo García de Baquedano as its new chairperson. The 45-year-old Spaniard succeeds Eva Castillo Sanz, who resigned from the position on 25 April in order to pursue new professional challenges.

Laura Abasolo has been a member of the supervisory board of Telefónica Deutschland since 2015. She began her career in the Telefónica Group in 1999. Within Telefónica Group, she has held various leadership positions in Budgeting and Control while also championing diversity within the company. She has been a member of Telefónica, S.A.'s Executive Committee since 2014 and, in July 2017, she became the company's Chief Finance and Control Officer.

"I am looking forward to working with my supervisory board colleagues to support the management board of Telefónica Deutschland in implementing their strategy," said Abasolo. "And I would like to take the opportunity to give my special thanks to Mrs Castillo Sanz, who, in almost six years as chairperson of the supervisory board has helped to shape the company and significantly supported its development."

With the new chairperson of the supervisory board, Telefónica Deutschland will continue to pursue its strategy as announced at the capital market day in February. The Digital4Growth programme will help the company to become simpler, faster and better and to transform into a thoroughly digitalized network operator. At the same time, the company will continue to focus on profitable growth, aiming to become Germany's Mobile Customer and Digital Champion.

Telefónica Deutschland reiterates its commitment to dividend growth over three consecutive years (2016 - 2018) and will propose a cash dividend of EUR 0.26 per share to the Annual General Meeting on 17 May 2018. The company remains confident in its ability to generate Free Cash Flow and confirms its commitment to a high pay-out ratio in relation to Free Cash Flow.