TIMB · TIM S.A.

TIM S.A. reported solid first-quarter results for 2026, with net revenue of R$6,806 million, up 6.5% year-over-year, driven by strong mobile postpaid performance and accelerating Ultrafibra growth. Mobile service revenue grew 5.6% YoY, supported by postpaid revenue growth of 7.5% and a 7.6% expansion in postpaid customer base. Prepaid revenue continued its stabilization trajectory, declining only 6.5% YoY. Fixed service revenue surged 22.8% YoY, led by Ultrafibra's 11.4% revenue growth and the consolidation of V8.Tech. Normalized EBITDA reached R$3,287 million, up 6.6% YoY, with margin expanding 0.1 p.p. to 48.3%. EBITDA-AL margin improved 0.5 p.p. to 37.1%, reflecting operational leverage. Net income grew 1.3% to R$821 million, with normalized EPS of R$0.34. Operating cash flow (OpCF) increased 16.8% to R$1,169 million, with margin up 1.5 p.p. to 17.2%. Capex was R$1,354 million, up 1.1% YoY, focused on network expansion including 5G coverage reaching 1,094 cities. The company also announced the acquisition of the remaining 51% of I-Systems from IHS Brasil, pending approvals, and a new partnership with PicPay to expand digital financial services. Shareholder remuneration of R$390 million in Interest on Capital was approved in March 2026.