Munich, 29 March 2021

Independent expert also intends to reject price review 2 as unsubstantiated - no retroactive price reduction for 1&1 Drillisch's existing customer base as of July 2018

Today, the independent expert has announced his intention to consider also the second price review initiated by 1&1 Drillisch and limited to existing customers as of 1 July 2018 as fully unsubstantiated. On this basis, the prices set in the MBA MVNO contract for the capacity-based access of 1&1 Drillisch to Telefónica Deutschland's mobile network would remain valid for these existing 1&1 Drillisch customers.

On 5 February 2021, the competent court of arbitration had already confirmed that the expert opinion of the same independent expert regarding price review 1 as of 5 September 2017 remains valid. As a result, the court dismissed the arbitration claim brought by 1&1 Drillisch against this expert opinion.

Should the independent expert confirm today's draft decision regarding price review 2, all price reviews completed to date would not have resulted in any price adjustment as 1&1 Drillisch had already withdrawn price reviews 3 and 4.

Telefónica Deutschland also continues to consider price review 5 and 6 initiated by 1&1 Drillisch to be unjustified in terms of content.

Telefónica Deutschland confirms its full-year 2021 financial outlook as well as mid-term guidance.

More Information:
Telefónica Deutschland
Investor Relations
Georg-Brauchle-Ring 50
D-80992 München
t +49 (0)89 2442-1010
f +49 (0)89 2442-2000
e [email protected]