Telefônica Brasil S.A. (BOVESPA:VIVT3) announces a share repurchase program. Under the program, the company will repurchase up to 40,827,672 common shares for BRL 1,000 million. The company will repurchase its share for future cancellation, sale or holding in treasury, with no capital reduction, for the purpose of increasing shareholder value through the efficient application of available cash, optimizing the company?s capital allocation.

The repurchased will be funded from the resources available in statutory profit reserve and may also use the result obtained in the current fiscal year. The program is valid until March 4, 2025.