TIM S.A. (TIMB) SEC Filings

TIM S.A. (TIMB) reports that its Board of Directors approved a new share repurchase program (Program 9) for common shares. Program 9 authorizes the acquisition of up to 55,187,638 common shares, equal to approximately 2.31% of total common shares, with a maximum aggregate amount of R$1 billion, to be held in treasury and subsequently cancelled, subject to legal and regulatory limits. The program runs until February 19, 2028. Management states that this reflects confidence in TIM’s fundamentals, cash generation and long-term value, and that current market prices do not fully reflect the Company’s intrinsic value. TIM also reports that the previous share repurchase program (Program 8), approved in February 2025, was terminated on August 12, 2026 after acquiring 46,884,500 common shares for approximately R$1 billion; 28,678,509 of those shares were cancelled on December 16, 2025, with the remaining shares held in treasury.

TIM S.A. provides a consolidated report on securities positions and related-party information for various governance bodies, prepared in line with Brazilian CVM Resolution 44/21. The report covers the board of directors, executive management, fiscal council, technical or advisory bodies, the controlling shareholder and people connected to management.

For certain board or management members, the report lists holdings of Common Registered shares, including quantities such as 296,359 and 58,453 shares, each tied to small ownership percentages such as 0.012389% and 0.002444%. It also discloses a large consolidated position of 1,611,969,909 Common Registered shares associated with the controlling shareholder group, corresponding to 67.386500% of the same class. Several sections show zero balances and “N/A” entries for deal price, volume in R$, and intermediary quantity, indicating that the focus is on closing balances and related-party ownership levels rather than detailed trade activity for the period.

TIM S.A. reported that its Board of Directors met on July 27th, 2026 and reviewed committee updates covering Environmental, Social & Governance, Control and Risks, and the Statutory Audit functions.

The Board acknowledged the Company’s Quarterly Financial Report for the 2nd quarter of 2026, dated June 30th, 2026, which had undergone a limited review by Ernst & Young. It also approved capitalizing subsidiaries with up to R$ 600,000,000.00 for I-Systems Soluções de Infraestrutura S.A. and up to R$ 70,000,000.00 for V8 Consulting S.A., in one or more installments at management’s discretion, based on funding needs. The Board noted progress on disclosures related to the Código Brasileiro de Governança Corporativa and scheduled an additional regular meeting for September 17th, 2026.

TIM S.A., a Brazilian telecom operator, reported consolidated net revenue of R$ 6,965,463 thousand in 2Q26 and R$ 13,771,614 thousand in the first half of 2026. Consolidated net profit reached R$ 969,571 thousand in 2Q26 and R$ 1,786,664 thousand in the half‑year, with basic and diluted earnings of R$ 0.41 and R$ 0.75 per share, respectively.

Operating cash generation was strong, with consolidated net cash from operating activities of R$ 5,781,258 thousand in the first half, versus net cash used in investing of R$ 2,631,422 thousand and in financing of R$ 4,082,776 thousand. At June 30, 2026, consolidated assets totaled R$ 57,190,135 thousand, liabilities R$ 32,174,757 thousand and shareholders’ equity R$ 25,015,378 thousand.

The company advanced its fiber and B2B strategy by acquiring the remaining 51% of I‑Systems for cash consideration of R$ 947,106, recognizing provisional goodwill of R$ 871,003, and by completing the V8.Tech acquisition with total consideration of R$ 138,841, including contingent earn‑outs linked to performance through 2030.

TIM S.A. delivered solid 2Q26 growth, with total net revenue of R$ 6,965 million (+5.5% YoY) driven by a 5.7% rise in service revenue. Mobile service rose 4.6% and fixed service 27.0%, supported by TIM Ultrafibra and expanding B2B, IoT and customer‑platform businesses. Mobile ARPU reached R$ 34.3 (+5.0% YoY), while FTTH ARPU was R$ 92.8.

Normalized operating expenses increased 4.0% YoY, below inflation, despite consolidating V8.Tech and I‑Systems. Normalized EBITDA was R$ 3,586 million (+7.0% YoY) with a 51.5% margin, and EBITDA‑AL reached R$ 2,802 million (40.2% margin). Bad debt rose 38.1% to R$ 264 million, and the net financial result weakened to a R$ 569 million loss. Even so, normalized net income climbed to R$ 1,036 million (+6.2% YoY), a record second quarter, with EPS of R$ 0.43. The board approved R$ 400 million in Interest on Capital and capital contributions of up to R$ 600 million to I‑Systems and R$ 70 million to V8.Tech, funded from cash to prepay subsidiary obligations.

Capex was R$ 935 million (13.4% of revenue), focused on network and IT. Operating cash flow reached R$ 1,868 million and operating free cash flow R$ 1,242 million (+10.1% YoY). Cash and marketable securities stood at R$ 4,530 million, while total net debt was R$ 12,518 million, with Net Debt/Normalized EBITDA at 0.89x. New B2B project signings hit a record R$ 192 million, and B2B service revenue ex‑wholesale reached R$ 1.7 billion. ESG actions included an “A” CDP Supplier Engagement rating, a Gender and Racial Equality Seal, 135 distributed‑generation plants supplying about 67% of energy use, and 100% of electricity purchased from renewable sources.

TIM S.A. reported 1H26 service revenue growth of 6.1% year on year, with mobile up 5.1% and fixed up 24.9%. Normalized EBITDA rose 6.8% in 6M26 with a 49.9% margin, while EBITDA-AL increased 7.8% with a 38.7% margin, both showing margin expansion.

Operating cash flow reached R$ 3,037 million in 6M26, up 11.7%, with a 22.1% margin, supported by lease and opex discipline. Net income grew 4.0% in 6M26, and 2Q26 earnings per share were R$ 0.43 versus R$ 0.40 a year earlier. Cash totaled R$ 4.5 billion, with R$ 17.0 billion of debt and a net-debt-to-EBITDA ratio of 0.89x. Growth engines include fast-expanding TIM Ultrafibra broadband, where the client base grew 12.5% year on year, and B2B activities with last-twelve-month revenues up 16.6%. The company also highlighted ESG milestones such as 100% renewable electricity and high waste recycling, and initial gains from AI-driven customer collections.

TIM S.A. approved capital contributions to its wholly owned subsidiaries I-Systems Soluções de Infraestrutura S.A. and V8 Consulting S.A. (“V8 Tech”) of up to R$600 million and R$70 million, respectively, through capital injections funded with its own cash resources.

The funds are primarily intended to enable the early repayment of financial obligations at these subsidiaries, helping optimize the TIM Group’s capital structure and financing costs in Brazil. The action will not result in issuing TIM shares or changing the Company’s share capital or ownership interests in the subsidiaries.

TIM S.A. reports that its Fiscal Council met on July 27, 2026, jointly with the Statutory Audit Committee, to review the company’s tax, regulatory, civil and labour contingencies and the Quarterly Information Report for the second quarter of 2026, prepared as of June 30, 2026.

Representatives of management and Ernst & Young Auditores Independentes S/S presented the quarterly information and the related limited review work. EY noted that in the course of its analysis no irregularities were identified or any reservations recorded. The Fiscal Council considers the information appropriate for presentation to the Board of Directors in accordance with Brazilian Corporate Law.

TIM S.A. filed a report detailing director, executive and related-party holdings in its common registered shares, along with activity during the month under CVM Resolution 44/21. The controlling shareholder group is shown with a combined position of 67,386500% of the same share class. Individual managers and directors hold very small fractions of the equity, with representative positions such as 0,012389% of the total shares outstanding. The report also lists specific share quantities for certain roles, including common registered share balances for members of the board and executive management, and notes where there was no activity in the month.