# CALL INVITE # Client Call with Telefonica Brasil CFO David Melcon

What? We will be hosting a virtual meeting for NSR clients with TEF Brasil CFO, David Melcon and the IR team on Tuesday 26th August. Format will be a small group, with the focus on Q&A.

When? 26th August, 8am EST / 9am BRT / 1pm BST

Why? Mobile consolidation in Brazil is leading to improved returns and better growth. Telefonica Brasil is well exposed to this. With solid growth, margins rising and stable capex, cash flow is growing strongly we think. This call will be a great opportunity to dive into the upside scenario, and the extent to which this improved cash generation might be returned to shareholders. We will also discuss macro pressures, competition, as well as M&A opportunities in the fixed segment, B2B, FWA and Digital services.