Olayan Alwetaid and Ana María Sala join the Telefónica Board of Directors

The board of directors of Telefónica SA has approved today, after a favorable report of the Nomination, Compensation and Corporate Governance Committee, the appointments for co -optation of Olayan Alwetaid and Ana María Sala as new directors of the company.

Olayan Alwetaid joins the Board as the owner director, which represents the Shareholder Green Bridge Bridge company SCS / STC Group. His appointment as director of Telefónica fills the vacancy on the board after the death of the vice president, José Javier Echenique.

Olayan Alwetaid has extensive experience in executive management and has more than 20 years of experience in telecommunications, media and technology sectors. It has a title in electrical engineering of the King Fahad University of Petroleum and Minerals and has numerous certifications in the field of ICT, leadership, strategic planning and governance. It has been CEO of Saudi Telecom Group, the leading mobile operator in the Middle East, since March 2021. Before its current role, he was senior vice president of the STC consumption business unit. Olayan was a pioneer in the B2C concept, offering consumers a comprehensive value proposal on mobile and fixed connectivity, smartphones and devices, digital media, financial services and direct turnover of operators for many leading services. It has extensive experience in new technologies related to ICT, digitalization, cloud platforms, IoT and cybersecurity solutions, and is interested in innovation and connected societies and ecosystems. Olayan Champions Diversity and currently directs the STC Women forum.

The Board has also accepted the voluntary resignation presented by Francisco José Riberas of its position as director of Telefónica, to allow the company to continue with the ordering process of its board of directors, taking into account that the expiration of its current term as a The company’s director will take place on April 23, 2025. The Board of Directors will thank Francisco José Riberas for the dedication and invaluable contribution he has made to Telefónica during his eight years in office.

To fill the vacancy derived from her resignation, Ana María Sala joins as an independent director.

Ana María Sala has a law title of the Autonomous University of Barcelona; Master in Comparative Law of the Autonomous University of Barcelona; Ll.M. University of California in Berkeley (USA); PHD in Law of the Pompeu Fabra University of Barcelona. She is an assistant professor at the Pompeu Fabra University and director of Law Studies at the Virtual Virtual UC of Barcelona. He joined Cortés Abogados in 2005 and has been a partner of the firm since 2014. She is the author of books and publications on commercial law. It has extensive experience in corporate practice, mergers and acquisitions, in the contract area and in participating in national and international arbitrations. She develops her professional practice at national and international level. He has advised, in particular, about corporate governance and sustainability to companies that quote in Spanish and do not quote on the list, he has participated in the restructuring and refinancing of national and international corporate groups, he has advised family offices in the Development of its activities, has participated in OPI and the acquisition offers and has an extensive practice in international arbitration. Currently, she is not director of the Board of Directors of INDRA and a non -director’s secretary of the Board of Directors of Sacyr, SA

With these changes, the Board of Directors is again composed of 15 members, reaches 40% of women and has a large majority of independent directors.

New vice president and appointments of committees members

The Board agreed to appoint director Carlos Ocaña as the new vice president of the Board of Directors of Telefónica.

The Council also appointed María Luisa García Blanco as a member of the Executive Commission; Carlos Ocaña as a member of the Nomination, Compensation and Corporate Governance Committee; and Ana María Sala as a member of the Sustainability and Regulation Committee to replace María Luisa García Blanco.