Telefônica Brasil launches second performance-unit long-term incentive plan with cash settlement

• Telefônica Brasil adopted 2nd long-term incentive plan based on performance units tied to VIVT3 share value, with cash settlement as default.
• Plan runs 5 years, split into three 3-year cycles: 2024-2026, 2025-2027, 2026-2028.
• Payout formula set as Units × 30-session average share price before cycle end × final multiplier linked to performance goals.
• First and second cycles weight goals at 50% total shareholder return, 40% free cash flow, 10% split between emissions neutralization and gender equality; third cycle uses 50% total shareholder return, 50% free cash flow.
• Company can seek shareholder approval to settle awards in shares instead of cash; early settlement applies in defined termination events or change of control using pro-rata time served.

Disclaimer: This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. Telefônica Brasil SA published the original content used to generate this news brief via EDGAR, the Electronic Data Gathering, Analysis, and Retrieval system operated by the U.S. Securities and Exchange Commission (Ref. ID: 0001292814-26-002929), on May 11, 2026, and is solely responsible for the information contained therein.