Meeting With InvestorsTIM Participações S.A.

May2013

Shareholders Structure TIM: A Huge Brazilian Company

Presence in Brazil since 1998.

13th largest Private Company in Brazil (source: Exame

Magazine).

R$20 billion of Market Capitalization.

TIM Brasil Serv. e Part. S.A. Minorities

TIM Participações S.A.

ON: 33% (805,662,701)ON: 67% (1,611,969,946)

Brazilian Law

“Lei das S.A”

“Nível” 1 “Nível” 2

Legal

Requirements

Demand for

transparency and

disclosures

Highest level of

Corporate

Governance

Requirement of

protection for

minority

shareholders

3

Corporate Governance

Knowing TIM Better

Unique Telco company listed on the Novo Mercado:

. 100% Tag Along and equal dividend rights

. One single class of shares

. Independent Board members

. Strict disclosure policy

• >70 million costumers.

• +400,000 points of sales.

• +130 own stores.

• 11 Customer Care Centers (14k attendants)

Sales

• >12,000 BTS.

• 3,390 cities covered.

• 94% of urban pop. covered.

• 41k optical fiber network.

Network

• +11,500 employees.

• +21,000 indirect jobs.

• R$8.1 billion in taxes payments (2012).

• R$3.8 billion invested (2012).

Social

&

Economic

Source: BaCen and IBGE 4

Brazilian families consumption is growing every year

(Families consumption on Brazilian GDP demand side - %YoY growth)

Unemployment rate is reaching a low record constantly

(Unemployment Rate %)

12,411,5

9,9 10,09,3

7,9 8,1

6,76,0

5,54,8

4,2

3,0

4,0

5,0

6,0

7,0

8,0

9,0

10,0

11,0

12,0

13,0

Families Income is increasing continually

(Average Real Salary R$)

1.000 1.100 1.200 1.300 1.400 1.500 1.600 1.700 1.800 1.900 2.000

Family Indebtness will probably drop

(% debt service/families income)

19,117,8

19,2 20,3 19,5 2022,4 21,9

20,2

-

5

10

15

20

25

30

5,2

6,15,7

4,4

6,9

4,1

3,1

4,34,8

-

1

2

3

4

5

6

7

8

2006a 2007a 2008a 2009a 2010a 2011a 2012a 2013e 2014e

Macro-Economic Fundamentals

Strategy

121,0

150,6 174,0

202,9

242,2 261,8

39,4 41,2 41,5 42,0 43,0 44,0

2007 2008 2009 2010 2011 2012

Mobile

Penetration

Mobile

Fixed

64% 79% 90% 105% 124% 133%

Customers Growth - Telecom

(Mln customers)

Market Transformation

Total Revenues- R$ Bln

+116%

+12%

Customers Growth – Broadband

(Mln customers)

Mobile

Fixed

6

1,4 4,1

14,6

33,2

52,5

10,0 11,4

13,8

16,3 19,1

2008 2009 2010 2011 2012

+38x

+90%

40(38%)

35(31%)

32(26%)

30(23%)

17(16%)

21(18%)

23(19%)

25(19%)

41(40%)

46(40%)

47(38%)

46(36%)

6 (6%)14 (12%)

22(18%)

28(22%)

2009 2012 2014 2015

• Fixed

Voice

104

Market split between:

Mobile

Fixed

47

(45%)

57

(55%)

CAGR ’12-’15

4%

Mobile: +7%

Fixed: -1%

69

(56%)

55

(44%)

129

116

75

(58%)

55

(42%)

124

60

(52%)

56

(48%)

• Fixed

Data*

• Mobile

Voice

• Mobile

VAS

28%

0%

7%

-5%

*including Corporate/Wholesale

Mobile Segment to Support Universalization

Mobile Segment as the Growth Driver and

Sector Universalization

41,9

25,7

(38%)

(62%)

68 Mln Households

Data Going Mobile: Internet has a great potential…

(Mln Households)

Fixed BB by speed% of connections

66%< 2 Mbps

73%

68%

62%

50%

41%

26%

20%

13%

6%

3%

2%

1%

R$ 10

R$ 20

R$ 30

R$ 40

R$ 50

R$ 70

R$ 80

R$ 100

R$ 150

R$ 200

R$ 250

> R$ 250 Ultra Broadband

Mobile

Leveraging on Pure Mobile Competitive Advantage

Voice FMS: Mobile is more convenient than Fixed…

(R$/minute, voice)

7

2006 2007 2008 2009 2010 2011 2012

50% mobile

discount

Willingness to pay (% of Households)

Voice FMS: …TIM, with no legacies, can only gain on the trend

(R$ billion, Net Revenue per Group (2012))

Data Going Mobile …Mobile has greater price efficiency

(Willingness to pay, % of households)

Source: Company estimates; CETIC dec’11;

Mobile 21.4

12.2 9.117.9

Fixed + Data + Pay TV

12.5

18.519.0

0.9

4.3

Total 33.9 30.7 28.1 18.8 4.3

Vivo Claro Oi TIM GVT

FMS

Focus

A pure mobile approach is the most suitable strategy to capture both opportunities

Possess

Internet

connection

Does NOT

Possess

Internet

connection

Reasons for not possessing:

1. Too Expensive.

2. Lack of Coverage.

Live TIM

Market

Strategic Priorities

8

Network Quality

& Infrastructure1

Strategy &

Offer Evolution2

Institutional

Relationships3

People &

Organization4

Solid Capex investment program.

Significant coverage and capacity improvement through

extensive own fiber infrastructure.

Network Quality War Room approach.

Efficient 4G Investment with RAN sharing.

Continuous evolution of our offer platforms

(transparency, simplicity, convenience, micro-

segmentation).

Promoting data usage with handset strategy, new VAS

offers (e.g. TIMmusic) and 4G launch.

Expanding postpaid and business user base.

Developing option value of Live TIM ultra-broadband

services.

External Positioning: Innovation, Quality, Transparency.

“Portas Abertas” customer portal for increased

transparency and network quality evolution.

Focus on regulatory and institutional dialogue.

People Focus – highly skilled, highly motivated, right

organization.

Best Place to Work initiatives.

Renewing Sense of Pride and Belonging – One of

Brazil‟s Top 15 Companies.

1Q13 Results in Few

Improving voice & data capacity.

Mobile data as the center of network strategy.

Q1 in Few: Main Highlights

10

3.3%4.1%

Solid VAS revenue growth.

Improving LD performance.

Overcoming operation start-up challenges.

Growing coverage.

Community strength intact.

Great response to new concepts (Liberty Controle).

181

209

Customer

Confidence

Constant Network

EvolutionReaccelerating

growth

Accelerating Live

TIM Services

1.0

1.2

4Q12 1Q13

Net Mobile Serv. Rev.

Growth (%YoY)

1Q131Q12

Gross VAS Rev.

(R$ Mln)

+25% +16%

Voice Capacity

(TRX Units 000)

1Q131H12

250

414

+66%

Data Capacity

(Channel Elements units 000)

1Q131H12

- 29%

Time to install (days)

Jan/13 Mar/13

112

609

5.4X

Addressable Market (HH 000)

2Q12 1Q13

67

71

+6%

Customer Base (lines mln)

1Q12 1Q13

Managing competition effects.

Good cost control

269

306

1Q131Q12

+14%

Net Income

(R$ Mln)

Speeding up FTTS deployment.

Strong costumer response.

126

145

+15%

MOU (minutes)

1Q12 1Q13

Offer attractiveness.

Engine is Running at Strong Pace and Efficiently

Market Share Evolution

(% of total lines; Source: Anatel)

132

79

65

Mass

Channel

(SIM and

recharge

sales)

Own

Stores

Focus on Efficiency

(R$; months)

3632

29

1.8

1.6

1Q121Q11 1Q13

1.7SAC/

ARPU

SAC

-12% -11%

1Q13

1Q12

1Q11

1Q12

1Q13

19.54% 19.45%

24.75% 25.02%

27.20% 26.71%

28.27% 28.53%

4Q12

+26 Bps

-48 Bps

+28 Bps

-9 Bps

#1 Prepaid: 60.3 mln users #2 Voice Postpaid: 9.0 mln users

Bad Debt Resilience

(as % of Gross Revenues)

1Q13

1.1%

2Q12

0.9%

1Q12

0.9%

+103%

11

1Q13

16.72% 17.03%

21.04% 20.73%

38.38% 38.36%

23.22% 23.25%

4Q12

+3 Bps

-1 Bps

-31 Bps

+31 Bps

1Q13

Showing strength in both:

Pre and Post-paid

Sales channel as a key

factor:

Effectiveness

Efficiency

Resilience

Quality driven

Sales Force

(Points of sale EoP; Points of Sales)

TIMP1 P3 P4

0.7%

1.0%

3Q12 4Q12

+22%

Improving Caring Services to Recover Customer Satisfaction

IDA – Index of Caring Performance (last reported)

(Points - the higher the better; Source Anatel)

99.9

96.2 95.298.2

98.0

88.0 89.4

93.3

92.8

73.3

84.0

91.1

84.9

72.7 73.1

84.4

Jun-12 Aug-12 Oct-12 Dec-12

Claims at Consumer’s Protection Agency (Procon)

(# Claims - the lower the better; Source: SINDEC database)

7,6938,882 8,913

10,047

6,533 7,6488,745 8,979

18,558

21,61819,838 19,728

10,510

12,567

14,73715,820

Anatel Ranking of Complains (last reported)

(Index of Complains under 1,000 access - the lower the better;

Source: Anatel)

0.20

0.28 0.300.24

0.24

0.440.41

0.34

0.34

0.50 0.47

0.38

0.50

0.64 0.63

0.51

Jun-12 Aug-12 Oct-12 Dec-12

4Q123Q122Q12 1Q13

6,00

6,50

7,00

7,50

8,00

TIM PRE POS CORP

12

Customer Care Satisfaction Survey

(Points; Source: Company)

Changing caring approach to meet different

segments needs

Taking transparency and convenience to the

next level

P3

P4

P1

TIM

P3

P4

P1

TIM

P3

P4

P1

TIM

ARPU Performance

(%YoY; R$)

Postpaid Growth Helping ARPU and MOU Improvements

Voice Postpaid Customer Base

(000 lines; Source: Company and Anatel)

MOU Performance

(minutes)

1Q12 2Q12 4Q123Q12

13

7,168

7,638

8,184

8,703 8,956

+25%

1Q12 2Q12 4Q123Q12 1Q13

1Q13

126 127

150

139

145

Outgoing

Incoming

1Q12 2Q12 4Q123Q12 1Q13

19.1 18.3 19.918.9 18.5

VAS

Voice

-8.0%

-15.3%

-11.0%-9.5%

-3.6%Liberty Controle taking up: managing

the large pool of Infinity customer

base.

Express Option (pay by credit card)

might boost adoption of Liberty and

Liberty Controle plans.

+69%

Apr/12 Mar/13

+15%

Controle Plans

Customer

Base

31% 35% 39% 43% 46%

Mobile Broadband and SMS Remain at High Speed Growth

SMS growth

(Days / Million Monthly unique users)

Data users

(Million monthly unique users)

66% 72%3G coverage

(% of urban

pop.)

VAS

(% of Gross Mobile Services Revenues; R$ Million)

640

1,000

1,245

1Q131Q11 1Q12

Web/smartphones sales already

represents 70% of total sales

Handset Sales Market Share Jan-Fev/13

(% of handset revenues; Source: Company)

21%

44%

25%

10%

TIMP1 P3 P4

59%

41%

Open Market

Operators

Smart/Web phone Penetration

(% over total base of lines)

1Q12 2Q12 3Q12 4Q12

1.5x

13.8%18.1%

21.4%

~18~22

1Q12 2Q12 3Q12 4Q12 1Q13

14

Enabling customers to use it… … and they are responding.

+25%

1Q13

Feb/12 Feb/13

+19%

+13%

Days of

Use

SMS

Users

Gross

Revs

VAS/Revs

+94%+24%

…But Mobile Internet Wave is Still in the Early Stages

15

Brazilian Device Market

(Million Units. Source: IDC)

7.5 6.65.5

8.4 8.9 8.8

1.1

3.1

5.8

Desktop Notebook Tablet

Tablet Offers

New Offer

2013e2011 2012

56% of Brazilians listen music at least

once a week in their mobile phone

Legal access

All musics

Unlimited download

Pay when you use

Work in offline mode

Smart Pipe:

Entering in the

OTT world as a

main actor.

4G Launch

16

Fixed to Mobile Substitution will accelerate further with 4G

Release on April, 30th.

FTTS project as the foundation for LTE.

Efficient cost approach with RAN Sharing.

Still a limited handset portfolio.

Developing a next stage of mobile internet

experience.

LTE Opportunity

80%

20%

2G 3G2G 3G 4G LTE

Average

Speed

(Mbps)

CB

Penetration

5x

10x

EBITDA & Net Income Analysis

1,174

EBITDA

1Q12

EBITDA

1Q13

-57

Δ Marketing

and SalesΔ Pers./G&A

and others

+69

Δ Handset

Margin

-86

Δ Network

and ITX

+49

Δ Services

Revenues

26.3% 25.9%EBITDA Margin

Service EBITDA Margin31.2% 30.6%

+71

-6.8% +19.1%-60.8% +4.4%+1.8%ΔYoY

1,220

17

EBITDA Evolution

(R$ Million)

350502 541

1Q11 1Q12

EBIT

(R$ Million, % CAGR)

1Q13

EBIT Net Financial

Result

Net Income

1Q13

Taxes and

Others

Depreciation/

Amortization

EBITDA

1Q13

+1.1% +7.8% +60.2% -12.4% +13.9%

From EBITDA to Net Income

(R$ Million)

1,220 -679

541 -68-167

306

213 269 306

1Q11 1Q12

Net Income

(R$ Million, % CAGR, R$/stock)

1Q13

+8%+24%

+14%

+20%

+4%

EPS 0.130.110.09

18

Cash Generation

Dividend Approved: R$743 Mln (R$0.31/share)

two payments: June 12th and Sept 12th

OFCFCAPEX Δ WCEBITDA

1,220 -470

-2,127

-1,377

YoY + 4% -13% -17%

Abs

YoY+46 -72 -302 -183

-15%

R$1.2 Bln EBITDA in 1Q13

Capex at R$470 Mln in 1Q13

Operational Free Cash Flow

(R$ Mln)

Net Debt

(R$ Mln, % CAGR)

1,671 1,899

1,555

-18%

-4%

1Q12 1Q131Q11

Net Debt/

EBITDA

L12M0.39x 0.40x 0.31x

1Q12 1,174 -543 -1,825 -1,194

Network and Infrastructure

Development of Infrastructure

20

Optical Fiber Network Evolution

(km of fiber)

28,89138,951 40,649

47,000

2011 2012 Mar/13 Dec/13*

*According to Anatel Network Plan

FTTS Project Status - 14 Brazilian Main Cities (Stage1)

Manaus

Florianópolis

São Paulo

Macapá

Salvador

Curitiba

MaceioRecife

Fortaleza

Brasília

Rio de Janeiro

Porto Alegre

Belém

Aracaju

São Luis

Palmas

Vitoria

Teresina

Belo Horizonte

Campo Grande

Imperatriz

GoiâniaCuiaba

Natal

M

M

M

M

M

M

M

M

M

M

M

M

M

M

M

M

M

M

M

M

M

MJ.Pessoa

M

M

M

M

M

MM

M

M

M

M M

M

M

M

MM

MM

1st phase: Connecting sites with own fiber. Almost 85% of sites in

the 14 main Brazilian cities are connected with own fiber.

3rd phase: Expanding

and fine tuning. Recife

is the first city to reach

this stage.

2nd phase: Light up the fiber and shift data traffic to own lines.

2nd phase is

expected to

be completed

by 4Q13

M Cities of Stage 1

M Cities (additional 30) of Stage 2

Own Network to Support Traffic Growth

(% of total transport network)

52%

80%

48%

20%

2009 2012

Owned

Third Parties

Main Benefits:

• Increasing customer experience (throughput 50x faster than

previous leased links on copper, 2/8Mbps)

• Reduce network congestion

• 4G (LTE) ready

Metro Ring

Own Fiber

(300 Mbps)

Copper

(2-8Mbps)

After FTTSBefore FTTS

• Reducing leased lines costs

11.607

12.029

Jun/12 Mar/13

Network Commitments

21

Network Elements Expansion…

(units. Source: Company)

…Driving Quality Improvements

(% of success; % of call/data connection drop; Source: Company preview and Anatel)

181

209

Jun/12 Mar/13

250

414

Jun/12 Mar/13

BTS TRX

(Voice Capacity; 000)

Channel Elements

(Data Capacity; 000)

94.8%

97.5%

95%

Jul/12 Mar/13

2.0%

1.7%

2%

Jul/12 Mar/13

92.5%

98.5% 98%

Jul/12 Mar/13

SMP5 - Traffic channel

allocation rate (voice)

SMP7 - Call Drop Rate SMP8 - Data Connection

Rate

8.3%

3.5%

5%

Jul/12 Mar/13

SMP9 - Data Connection

Drop Rate

+4%+16%

+66%

Target agreed w/ Anatel

Capex Analysis

22

1.3

3,3

39

53

406

741

205

271

Network Targets

(km of fiber;units)

TRX (000)

Data Channel

Elements (000)

2014e

22.9k 20.3k

18.4 k14.9 k

9,58,3

7,25,5

0.4

TIM Claro Vivo Oi

Anatel Benchmark for 2012-2014

(R$ Bln)

Owned Network Deployment….

(Thousand of leased lines; % of total transport network)

9.9

2012 Extra Capex

over Anatel Plan +20% +39%

2012-2014 Capex

52%63%

78%80%

2009 2010 2011 2012

% Owned

Network

Leased

Lines

2012a

2014e2012a

FTTS

(000 km)

FTTS

# sites (000)

2014e2012a

2014e2012a

+160%

+36%+32%

+83%

… Driving Leased Lines Opex Savings

(% YoY)

+81%

23,6%

6,0%-5,5%

Total Traffic Customer Base Leased Lines Costs

Q1 2013

23

2013 2014 2015

Old Plan New Plan

LTE Roll Out

+62%

3G Capacity (incremental node-B)

+37%

0.5 0.3 0.2

2.3 2.7 3.1

2010 2011 2012 2013e 2014e 2015e

19,6% 18,0% 18,0%

210

488

712

2010 2011 2012 2013e 2014e 2015e

54%66%

72%80%

# cities

% Urban Pop

Covered

3G Coverage

(# Cities, % Urban Population Covered)

Organic Capex (ex- 4G license)

(Capex/Sales, Mix of Investments; R$ bln)

Infra

Invest.

As % of Net Revs.

Other

Invest.

2.83.0

3.410.7

Focus on main urban areas;

Quality vs. Quantity.

Launch of LTE service in April 2013 in six

cities hosting the Confederations Cup,

In the course of the year, all the 12 cities of

the FIFA World Cup 2014.

Sticking to Anatel‟s minimum coverage

requirements.

3.6

Strengthening Network to Support Data Growth

Live TIM

77.7%

22.3%

1Q12 2Q12 3Q12 4Q12 1Q13

A Full Operating Business Deployed in Less Than a Year

25

First CustomerAward Frost

Launch RJ

AES Atimus

Acquisition

Nov11 May12 Jul12 Sep12 Oct12 Nov12 Dec12 Mar13

Alpha Test

Development OSS/BSS

Launch SP

10,000

Sales

16K

Customers

41% Net

Share

Network Construction

(MSAN and HH Addressable)

Market share (MSAN occupation)

(after 5 months; Source: company estimates)

MSANs

(Cabinet)

Households

Addressable

609k

770

11%

13%

1H12 2H12

8.2%

91.8%

All Speeds Above

34 Mb

Net Share RJ/SP (Jan-Feb’13)

(Source: Anatel and company estimates)

240k

Website

Registration

Live TIM

Live TIMOthers

Others

Solving Operational Start-up Difficulties to Gain Customer Satisfaction

Time to Install

(# days)

jan/13 feb/13 mar/13

Driving the Market to a New Speed Level

(Average Download Speed in Mbps)

1.3 1.7 1.8 2.3

35.5

2009 2010 2011 3Q12 Live TIM(delivered)

43% 42%26%

51% 52%

38%

6% 6%

36%

Telecom Fixed Broadband

Live TIM

Delighted Satisfied Unsatisfied

Customer Satisfaction Index

(Source: Study of Bridge of Research Aug/12 and TIM)

Live TIM has 6x

more delighted

customers than

market average.

Capturing Clients Through High Speed Packages

(Source: Informa Telecom & media)

26

15x

Market Average

- 29%

02468

101214

15 20 25 35 50

R$/M

bps

Download Speed (Mbps)

Live TIM

P1

P2

P3

Efficient approach

MSAN port occupancy (%), Capex (R$)

Coverage (addressable)

Thousands of Households

~500

~2,000

2015201420132012

0

20

40

60

80

2012 2013 2014 2015

~R$2k

Coverage Capex

per Home Passed

~R$80

~R$800

Installation Capex

per Sub

~R$300

TIM

FiberInt. Bench.

TIM

FiberInt. Bench.

~R$5k

Total Capex

per Sub

~R$700

TIM

FiberInt. Bench.

Port Occupancy (%)

27

4x

• 2012: priority coverage in areas with high „A/B classes‟

concentration

• 2013: chess board strategy and entering in class C

• 2014: additional coverage in Rio de Janeiro and São

Paulo metropolitan regions, focusing class C

concentration areas

Geographic Expansion

Geographic expansion for low-middle class and targeting high

income neighborhood

TIM Fiber Plan Update 2013/2015

Business Outlook

116129

150

>200

0

50

100

150

200

250

2010 2011 2012 2013e 2014e 2015e

14.5 17.1

18.8

2010 2011 2012 2013e 2014e 2015e

High Single

Digit growth

4 Ways of Growth Revenue Growth

(Total Revenues,R$ billion)

CAGR 12-15

Mobile Customer Base

Million of lines

Double digit

growth

FMS – Voice (MOU)

Minutes of usage per line

Internet for All (Mobile Data)

Data as % of Gross Mobile Serv. Revs.

29

51.0 64.1

70.3

> 90

2010 2011 2012 2013e 2014e 2015e

13%15%

19%

>26%

0%

5%

10%

15%

20%

25%

2010 2011 2012 2013e 2014e 2015e

Double digit

growth

VAS

RevenuesMoUCustomer

Base

Community

Expansion

FMS

(Voice)

Internet for

everybody

~2Mln

HH ready

to sell

Tim Fiber

Ultra BB

>90 Mln >200 min >26%

Business Drivers of Growth

30

Total Net

RevenuesHigh Single Digit

Growth

Organic EBITDA4.6 5.1

Organic CapEx 3.0 3.4 10.7

17.1 18.8

High Single Digit

Growth

R$ billion 2011 20122013 -2015

CAGR Guidance

2013-2015 Guidance

Appendix

Historical Data: Financials (R$ Thousand)

32

Historical Data: Financials (US$ Thousand)

33

Historical Data: Operational

34

3%

Tax Relief - 1º Step: M2M Fistel to drop and Smartphones tax exemption (Law 12,715/2012)

Total

~34%

Fust/

FUNTEL

PIS/

PASEP

1.5%

0.65%

ICMSCofins

~28%

Tax reduction Reduction in the

price to

consumer

Increase of

Penetration

Social

Impacts

Economic

Impact

Possibility of

higher

investment in

network

Better

Quality

Tax Composition

35

In 2012, TIM paid R$9.1

bln in taxes, fees and

contributions (~48% of

total net revenues).

• R$1 bln in Fistel.

• R$8.1 bln in taxes,

contributions and

others fees.

% of Gross

Revenues

Taxation Over Telecom in Brazil

Shareholders Structure and Stock performance

Stock Performance (base 100)*

0

20

40

60

80

100

120

TIMP3 Ibovespa TSU

36*Last price as of 05/03/2012

TIM Celular S.A. Intelig

100%

TIM Brasil Serv. e Part. S.A. Minorities

Telecom Italia International N.V.

Telecom Italia

100%

TIM Participações S.A.

ON: 33% (805,662,701)ON: 67% (1,611,969,946)

100%100%

Investor Relations Team

Avenida das Américas, 3434 - Bloco 01

6 andar – Barra da Tijuca

22640-102 Rio de Janeiro, RJ

E-mail: ri@timbrasil.com.br

Rogério Tostes

E-mail: rtostes@timbrasil.com.br

Phone: +55 21 4109-3742

Vicente Ferreira

E-mail: vdferreira@timbrasil.com.br

Phone: +55 21 4109-3360

Leonardo Wanderley

E-mail: lwanderley@timbrasil.com.br

Phone: +55 21 4109-4017

Gustavo Valente

E-mail: gvalente@timbrasil.com.br

Phone: +55 21 4109-3446

Luiza Chaves

E-mail: luchaves@timbrasil.com.br

Phone: +55 21 4109-3751

Visit our Website

www.tim.com.br/ir

Safe Harbor and IR Contacts

Safe Harbor Statements

Statements in this presentation, as well as oral

statements made by the management of TIM

Participações S.A. (the “Company”, or “TIM”), that

are not historical fact constitute “forward looking

statements” that involve factors that could cause

the actual results of the Company to differ

materially from historical results or from any

results expressed or implied by such forward

looking statements. The Company cautions users

of this presentation not to place undue reliance on

forward looking statements, which may be based

on assumptions and anticipated events that do

not materialize.

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