Telecom Italia Rsp

Capital/Financing Update • Jul 13, 2023

Press Release

TIM: SHAREHOLDERS' MEETING OF TIM BRASIL SERVIÇOS E PARTICIPAÇÕES APPROVES BOND ISSUE

Rome, 13 July 2023

TIM announces that the Shareholders' Meeting of TIM Brasil Serviços e Participações S.A., the holding company fully owned by the Group which in turns holds 66,58% of TIM S.A., has approved the issue of a bond, non-convertible and intended for institutional investors, in the amount of 4.25 billion reais, equivalent to approximately 800 million euros at current exchange rates.

The bond issue, aimed at distributing dividends from TIM Brasil Serviços e Participações S.A. to its parent companies, is part of the Group's refinancing activities.

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