Recommendation of the Board of TIM S.A. on division of the Company’s profits for 2018

Date

2019-04-02

Current report no.

9/2019

– amount of PLN 1,109,960 (say: one million, one hundred nine thousand, nine hundred sixty) shall be allotted to paying out the dividend, except that the above-mentioned amount is paid on 20 December 2018 for the advance payment for the predicted dividend for 2018,

– amount of PLN 9,104,100.87 (say nine million, one hundred four thousand, one hundred, 87/100) shall be allotted to the dividend fund.

The Board of TIM S.A. informs that on 20 December 2018 the advance payment for the predicted dividend in the amount of PLN 22,199,200 (say: 22 million, one hundred ninety nine thousand, two hundred) gross was paid out which constitutes PLN 1.00 (say: one) gross per one share from which the amount of PLN 1,109,960 (say: one million, one hundred nine thousand, nine hundred sixty) came from the profit earned by the Company in the period 01.01.2018 – 30.06.2018 and the amount of PLN 22,089,240 (say: twenty two million, eighty nine thousand, two hundred forty) came from the funds gathered on the dividend fund. The Board of TIM S.A. published the information on paying out the advance payment for the predicted dividend in the Current Report no. 46/2018 of 5 November 2018.

The Company also informs that in conformity with Article 382, section 3 of the Code of Commercial Companies the motion was submitted to the Supervisory Board of the Company which on 1 April 2019 approved the above-mentioned motion submitted by the Board of TIM S.A.

The final decision regarding the division of profits for the financial year 2018 shall be made by the Ordinary General Meeting of Shareholders of the Company.