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Guidance

TIM Brasil Financial Guidance

GOALS SHORT-TERM TARGETS (2024) MID-TERM TARGETS (UNTIL 2026)
Revenue Service Revenues Growth (Y/Y):
5% – 7%		 Service Revenues Growth (CAGR 23-26):
5% – 6%
EBITDA EBITDA Growth (A/A):
7% – 9%		 EBITDA Growth (CAGR 23-26):
6% – 8%
Investments (Capex) Nominal Capex:
R$ 4.4 Bln – 4.6 Bln		 Nominal Capex:
R$ 4.4 Bln – 4.6 Bln (per year)
Operating Cash Flow (EBITDA-AL minus Capex) EBITDA-AL growth minus Capex (Y/Y):
Double-digit		 EBITDA-AL growth minus Capex (CAGR 23-26):
Double-digit
Shareholders Remuneration ∑ 24-26: R$ 11.8 – 12.2 Bln.

*EBITDA after leasing payment.