Telefonica SA (Telefonica) is a telecommunications company that provides fixed and mobile telephony services, data and business services, and wholesale services. Its mobile services include voice services, value-added services, data and internet services, wholesale services, roaming, corporate services, fixed wireless, trunking, and paging services. The company offers fixed telephony service in Europe and Latin America. Its telephony services include traditional fixed telecommunication service, internet and broadband multimedia service, data and business-solution service, and wholesale service. Apart from mobile and fixed, the company also offers digital services, such as video/TV service, IoT (smart connectivity, smart service, and customer IoT), financial and other payment service, security service (electronic security, information security), cloud service, advertising, and digital telco experience.

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Telefonica maintains its commitment to research and development (R&D) as a driver of sustainable growth and digital transformation. This investment includes both the cost of projects carried out with internal resources and industrial development projects commissioned to third parties, where the company retains ownership of the resulting industrial property. Projects focus on key technologies such as next-generation telecommunications networks and services, AI, cybersecurity, quantum technologies, and digital solutions for customers, as well as on improving operational efficiency. Telefónica collaborates with a broad ecosystem of stakeholders, including universities, public research centers, public administrations, technology companies, and industrial partners, contributing to scientific and technological progress, promoting the development of specialized talent, and facilitating the transfer of results to the market. The company's R&D activities result in the generation of new knowledge, formalized through patents and other industrial property assets. In FY2025, the company applied for 25 new patents, protecting R&D outcomes in strategic areas such as intelligent and autonomous networks, cybersecurity and enhanced privacy, artificial intelligence, energy efficiency, quantum communications, post-quantum security, and multimedia content distribution. As of December 2025, Telefonica managed a portfolio of 478 active patents, grouped into families, which form part of a broader set of industrial and intellectual property assets and constitute one of the most representative indicators of the company's innovative capacity. Their active management helps protect and enhance research, foster technology transfer, and cooperate with the innovation ecosystem, contributing to the development of sustainable digital solutions and greater socio-economic growth. In FY2025, the company incurred an expense of EUR1,004 million on its R&D activities, which grew by 55.2%YoY and stood at 2.9% of the company’s total revenue.